NSE: INDIAMART · BSE: 542726 · ISIN INE933S01016
Indiamart Intermesh Limited stock analysis
Indiamart Intermesh Limited ranks #177 in the TickerSutra evidence-ranked universe with a score of 70/100 and 95% data confidence. The latest captured fundamentals show ROCE of 28.0%, quarterly sales growth of 11.4% and quarterly profit growth of 12.2%.Watchlist candidate
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- ROCE is 28%
- Low debt/equity of 0.01×
- Strong CFO/EBITDA of 1.46×
- 16.8% three-year sales CAGR
- No promoter shares are reported as pledged
Risks and constraints
- Operating margin has compressed materially
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹753cr | ₹296cr | ₹298cr | 39.0% |
| 2023 | ₹985cr | ₹230cr | ₹284cr | 23.0% |
| 2024 | ₹1,197cr | ₹291cr | ₹334cr | 24.0% |
| 2025 | ₹1,388cr | ₹474cr | ₹551cr | 34.0% |
| 2026 | ₹1,569cr | ₹475cr | ₹475cr | 30.0% |
| TTM | ₹1,611cr | ₹488cr | ₹493cr | 30.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
Please find enclosed outcome of Analyst/Institutional investor meet/call.
RoutineIndiaMART InterMESH Ltd - 542726 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeBSE · 25 Sept 2026Please find enclosed outcome of Analyst/Institutional investor meet/call.
RoutineIndiaMART InterMESH Ltd - 542726 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeBSE · 23 Sept 2026Please find enclosed outcome of Analyst/Institutional investor meet/call.
RoutineIndiaMART InterMESH Ltd - 542726 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeBSE · 15 Sept 2026Please find enclosed outcome of Analyst/Institutional investor meet/call.
RoutineIndiaMART InterMESH Ltd - 542726 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeBSE · 10 Sept 2026Please find enclosed outcome of Analyst/Institutional investor meet/call.
MANAGEMENT COMMENTARY
Signals from filed documents
146 crores for the quarter, representing margin of 35%. Margins continued to be elevated on account of savings arising from lower customer acquisition and operating leverage. In Q1, consolidated Other income for the quarter stood at Rs.
Regularly IndiaMART enables buyers to seamlessly discover a diverse range of products across categories through its user-friendly digital platform. The Company facilitates competitive pricing and convenient payment options, thereby enhancing the overall purchasing experience. In addition, buyers gain access to a broad network of verified and reliable suppliers, while structured customer feedback mechanisms support in
That should also allow us to have a better ARPU coming in from these customers. So again, as I said, it's a combination of price increases as well as the overall, let's say, value -added services that these customers start to subscribe for. So these two things put together will give us the ammunition to continue to have better ARPU reali sations from these customers.
Vivekanand: That's very interesting. Are there any regulatory guardrails in India that will prevent this from happening, where let's say, we then are at the mercy of these walled gardens, as you call it, the LLMs? Are there any guardrails which will perhaps come in play later on, or are there any discussions with the government where something like this could be introduced?
Whether your entity’s policy/policies cover each principle and its core elements of the NGRBCs. Has the policy been approved by the Board? Web Link of the Policies, if available.
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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