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IndiaMART InterMESH Ltd. (IN:INDIAMART)
:INDIAMART
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IndiaMART InterMESH Ltd. (INDIAMART) AI Stock Analysis

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IN:INDIAMART

IndiaMART InterMESH Ltd.

(INDIAMART)

Rating:80Outperform
Price Target:
₹2,988.00
▲(16.86% Upside)
IndiaMART InterMESH Ltd. achieves a strong overall score driven by excellent financial performance, characterized by robust revenue growth, high profitability, and a strong balance sheet. Technical indicators suggest the stock has room for upward movement, although valuation metrics indicate it may be somewhat overvalued. The lack of earnings call data and corporate events does not impact the assessment significantly.

IndiaMART InterMESH Ltd. (INDIAMART) vs. iShares MSCI India ETF (INDA)

IndiaMART InterMESH Ltd. Business Overview & Revenue Model

Company DescriptionIndiaMART InterMESH Ltd. (INDIAMART) is a leading online B2B marketplace in India, facilitating business transactions between buyers and suppliers across various industries. Founded in 1999, the company connects millions of buyers with suppliers through its platform, offering a diverse range of products and services, including industrial machinery, apparel, electronics, and more. IndiaMART's core offering is its digital marketplace, which provides small and medium enterprises (SMEs), large enterprises, and individuals with the ability to trade and collaborate efficiently.
How the Company Makes MoneyIndiaMART generates revenue primarily through a subscription-based model, where suppliers pay to be listed on the platform and gain access to potential buyers. The company offers different subscription packages with varying features and levels of visibility, enabling suppliers to choose based on their business needs. Additionally, IndiaMART earns from advertising services, allowing suppliers to enhance their visibility through sponsored listings and advertisements on the platform. The company also benefits from transaction-based fees and value-added services, which include lead management systems and payment facilitation services. Significant partnerships with financial institutions and advancements in digital payment solutions further bolster IndiaMART's revenue streams, contributing to its overall earnings.

IndiaMART InterMESH Ltd. Financial Statement Overview

Summary
IndiaMART InterMESH Ltd. demonstrates strong financial health with consistent revenue and profit growth, effective cost management, and a robust cash flow position. The company's low leverage and high profitability ratios highlight a solid financial foundation, though attention to cost efficiency is advisable.
Income Statement
85
Very Positive
IndiaMART InterMESH Ltd. shows robust revenue growth with a TTM (Trailing-Twelve-Months) increase of 45% from 2022 to 2025. Gross profit margin remains strong at approximately 67.3%, and net profit margin is impressive at 41.3%. EBIT and EBITDA margins are also healthy at 39.4% and 48.9%, respectively. The company demonstrates effective cost management and scalability, but the slight decline in gross profit margin from the previous year suggests potential pressure on cost efficiency.
Balance Sheet
88
Very Positive
The company maintains a solid balance sheet with a low debt-to-equity ratio of 0.015, indicating minimal leverage risk. Return on Equity (ROE) stands strong at 28.9%, reflecting high profitability relative to shareholders' equity. The equity ratio is strong at 50.8%, showcasing a stable financial position with effective management of assets and liabilities. Minimal debt enhances financial flexibility, although the slight decrease in cash reserves suggests close monitoring is needed.
Cash Flow
90
Very Positive
IndiaMART InterMESH Ltd. exhibits a strong cash flow position with significant free cash flow growth of 35.6% TTM. The operating cash flow to net income ratio is 1.20, indicating efficient conversion of income into cash. Free cash flow to net income ratio is also strong at 1.18, reflecting robust cash generation capabilities. Despite high investing cash outflows, the company maintains healthy cash flow from operations, underscoring strong operational performance.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue14.29B13.88B11.97B9.85B7.53B6.70B
Gross Profit9.61B7.77B9.64B7.65B6.19B5.70B
EBITDA6.98B5.14B5.00B4.11B4.08B4.12B
Net Income5.90B5.51B3.34B2.84B2.98B2.80B
Balance Sheet
Total Assets40.23B41.34B34.49B34.45B29.49B25.11B
Cash, Cash Equivalents and Short-Term Investments26.40B28.72B23.23B23.45B23.77B22.95B
Total Debt304.19M330.37M406.67M459.00M562.80M634.24M
Total Liabilities19.79B19.48B17.12B13.86B10.75B9.01B
Stockholders Equity20.44B21.85B17.36B20.59B18.74B16.11B
Cash Flow
Free Cash Flow7.00B6.15B5.44B4.59B3.98B3.22B
Operating Cash Flow7.09B6.23B5.59B4.76B4.02B3.23B
Investing Cash Flow-3.77B-4.86B1.62B-3.24B-3.35B-13.38B
Financing Cash Flow-3.41B-1.48B-6.95B-1.43B-575.21M10.38B

IndiaMART InterMESH Ltd. Technical Analysis

Technical Analysis Sentiment
Positive
Last Price2556.90
Price Trends
50DMA
2587.90
Negative
100DMA
2454.76
Positive
200DMA
2293.18
Positive
Market Momentum
MACD
-1.52
Positive
RSI
47.25
Neutral
STOCH
19.27
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:INDIAMART, the sentiment is Positive. The current price of 2556.9 is below the 20-day moving average (MA) of 2581.80, below the 50-day MA of 2587.90, and above the 200-day MA of 2293.18, indicating a neutral trend. The MACD of -1.52 indicates Positive momentum. The RSI at 47.25 is Neutral, neither overbought nor oversold. The STOCH value of 19.27 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:INDIAMART.

IndiaMART InterMESH Ltd. Peers Comparison

Overall Rating
UnderperformOutperform
Sector (56)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
80
Outperform
₹153.50B25.98
1.17%14.70%62.33%
80
Outperform
₹69.92B11.59
7.68%43.22%
71
Outperform
₹56.36B23.16
0.28%42.31%6.38%
59
Neutral
₹61.20B23.39
0.36%12.99%1.85%
59
Neutral
₹80.28B11.95
0.19%-30.96%-48.49%
56
Neutral
$13.56B12.8310.03%0.92%7.13%-12.93%
41
Neutral
₹95.05B96.79
-53.29%
* Services Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
IN:INDIAMART
IndiaMART InterMESH Ltd.
2,556.90
-420.74
-14.13%
IN:INFIBEAM
Infibeam Avenues Ltd.
16.19
-8.90
-35.47%
IN:IONEXCHANG
Ion Exchange (India) Ltd.
417.25
-252.02
-37.66%
IN:JUSTDIAL
Just Dial Ltd.
821.30
-392.30
-32.33%
IN:MMTC
MMTC Limited
64.49
-29.71
-31.54%
IN:PNCINFRA
PNC Infratech Ltd
312.95
-135.33
-30.19%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Aug 02, 2025