Indiamart Intermesh Ltd.

NSE: INDIAMART · Internet & Catalogue Retail

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52W Range₹1,465 – ₹2,526

Snapshot

Unlock Indiamart Intermesh Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

IndiaMART InterMESH Limited operates a leading business-to-business (B2B) online marketplace that connects buyers and suppliers across various industries. The platform facilitates trade for small and medium enterprises, large corporations, and individual users through an interactive digital hub.

Business Model

The company primarily generates revenue through subscription-based packages sold to suppliers, which provide them with enhanced visibility and lead generation tools on the platform. It also monetises through advertising services and payment facilitation solutions.

Growth Outlook

Growth is driven by the increasing digitisation of Indian SMEs and the expansion of the company's service offerings to include accounting and payment solutions. Continued penetration into tier-2 and tier-3 cities remains a key strategic focus.

Key Risks

  • Platform Competition. Intense competition from emerging B2B e-commerce platforms and vertical-specific marketplaces could pressure market share and pricing power.
  • Network Effects. The business relies heavily on maintaining a critical mass of active suppliers and buyers to ensure the platform's value proposition remains effective.
  • Regulatory Environment. Changes in Indian e-commerce regulations or data privacy laws could necessitate costly operational adjustments or limit business model flexibility.
  • SME Economic Sensitivity. As the primary customer base consists of small and medium enterprises, the company is vulnerable to broader economic downturns that impact SME spending capacity.

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Key Metrics

REVENUE

₹1,649 Cr

TTM · consolidated

+12.0%YoY

NET PROFIT

₹502 Cr

TTM · consolidated

-6.7%YoY

EPS

₹83.48

TTM · consolidated

-6.9%YoY

RETURN ON EQUITY

22.5%

TTM · consolidated

-2.7 ppYoY

RETURN ON CAPITAL EMPLOYED

24.3%

TTM · consolidated

-1.7 ppYoY

P/E

18.0×

Q2 FY27 · consolidated

18.0 vs 18.1x5Y avg

EV/EBITDA

11.5x

Q2 FY27 · consolidated

11.5 vs 16.5x5Y avg

EBITDA MARGIN

46.9%

TTM · consolidated

-6.6 ppYoY

NET PROFIT MARGIN

21.2%

Q2 FY27 · consolidated

+0.0 ppYoY

DEBT TO EQUITY

0.0x

Q2 FY27 · consolidated

+0.00xYoY

Peers · Internet & Catalogue Retail

CompanyMkt CapP/E (TTM)EV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Indiamart Intermesh Ltd.INDIAMART
₹8,944 Cr18.0×11.5212.0%46.9%22.5%24.3%-38.9%
Info Edge (India) Ltd.NAUKRI
₹77,136 Cr48.3×33.5813.9%67.7%5.2%5.4%-13.5%
Just Dial LimitedJUSTDIAL
₹5,481 Cr11.1×8.049.0%53.1%9.6%11.5%-13.7%
Crizac Ltd.CRIZAC
₹2,425 Cr11.5×7.89—29.5%32.7%41.0%-55.1%
Matrimony.comMATRIMONY
₹1,116 Cr26.0×12.505.5%18.8%20.0%23.9%+8.6%
TCC ConceptTCC
₹958 Cr2.8×6.20205.3%54.1%5.8%6.4%-92.8%

As of Q2 FY27

Financials