IndiaMART InterMESH Ltd. (IN:INDIAMART)
:INDIAMART
Want to see IN:INDIAMART full AI Analyst Report?
Top Page
IndiaMART InterMESH Ltd.
(INDIAMART)
Select Model
Select Model
Rating:73Outperform
Price Target:
₹2,352.00
▲(8.60% Upside)
Action:Reiterated
Date:05/02/26
The score is primarily supported by strong financial performance (low leverage, solid profitability, and reliable free-cash-flow generation), but is held back by the recent slowdown in growth and margin compression. Technicals are neutral-to-weak relative to longer-term moving averages, while valuation appears reasonable with a modest dividend yield.
Positive Factors
Recurring subscription revenue
A subscription-based marketplace generates predictable, recurring cash flows as suppliers renew packages. This reduces revenue volatility, supports long-term planning, and makes growth efforts (seller acquisition/retention) highly scalable, sustaining durable revenue visibility over months.
Negative Factors
Recent revenue deceleration
A marked slowdown from double-digit growth to single-digit growth signals weaker demand or marketplace saturation among SMEs. Persisting slower top-line expansion can constrain ability to leverage fixed costs, reduce reinvestment capacity, and slow long-term ARR expansion over 2–6 months.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring subscription revenue
A subscription-based marketplace generates predictable, recurring cash flows as suppliers renew packages. This reduces revenue volatility, supports long-term planning, and makes growth efforts (seller acquisition/retention) highly scalable, sustaining durable revenue visibility over months.
Read all positive factors
IndiaMART InterMESH Ltd. (INDIAMART) vs. iShares MSCI India ETF (INDA)
Market Cap
₹120.14B
Dividend Yield1.33%
Average Volume (3M)4.35K
Price to Earnings (P/E)25.1
Beta (1Y)0.98
Revenue Growth13.01%
EPS Growth-13.87%
CountryIN
Employees5,384
SectorServices
Sector StrengthN/A
IndustryInternet Content & Information
Share Statistics
EPS (TTM)79.09
Shares Outstanding60,143,147
10 Day Avg. Volume3,668
30 Day Avg. Volume4,347
Financial Highlights & Ratios
PEG Ratio-1.81
Price to Book (P/B)4.97
Price to Sales (P/S)7.60
P/FCF Ratio15.82
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)91.72
Revenue Forecast (FY)₹17.20B
IndiaMART InterMESH Ltd. Business Overview & Revenue Model
Company Description
IndiaMART InterMESH Limited operates an online business-to-business marketplace for business products and services in India and internationally. The company's e-marketplace acts as an interactive hub for domestic and international buyers and suppl...
How the Company Makes Money
IndiaMART primarily makes money by selling subscription-based services to suppliers that want visibility and sales enquiries (leads) from business buyers on its marketplace. These paid supplier packages typically monetize (a) enhanced listing/visi...
IndiaMART InterMESH Ltd. Financial Statement Overview
Summary
Income Statement
70
Positive
Balance Sheet
92
Very Positive
Cash Flow
88
Very Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 15.69B | 13.88B | 11.97B | 9.85B | 7.53B |
| Gross Profit | 5.02B | 12.99B | 11.02B | 8.96B | 6.93B |
| EBITDA | 5.30B | 7.46B | 5.00B | 4.11B | 4.08B |
| Net Income | 4.75B | 5.51B | 3.34B | 2.84B | 2.98B |
Balance Sheet | |||||
| Total Assets | 46.25B | 41.34B | 34.49B | 34.45B | 29.49B |
| Cash, Cash Equivalents and Short-Term Investments | 31.21B | 28.72B | 23.23B | 23.45B | 23.77B |
| Total Debt | 231.00M | 330.37M | 406.67M | 459.00M | 562.80M |
| Total Liabilities | 22.24B | 19.48B | 17.12B | 13.86B | 10.75B |
| Stockholders Equity | 24.00B | 21.85B | 17.36B | 20.59B | 18.74B |
Cash Flow | |||||
| Free Cash Flow | 7.54B | 6.15B | 5.44B | 4.59B | 3.98B |
| Operating Cash Flow | 7.61B | 6.23B | 5.59B | 4.76B | 4.02B |
| Investing Cash Flow | -4.14B | -4.86B | 1.62B | -3.24B | -3.35B |
| Financing Cash Flow | -3.40B | -1.48B | -6.95B | -1.43B | -575.21M |
IndiaMART InterMESH Ltd. Technical Analysis
Negative
2165.70
Price Trends
2073.28
Negative
2136.69
Negative
2293.22
Negative
Market Momentum
-35.76
Positive
40.63
Neutral
31.38
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:INDIAMART, the sentiment is Negative. The current price of 2165.7 is above the 20-day moving average (MA) of 2060.31, above the 50-day MA of 2073.28, and below the 200-day MA of 2293.22, indicating a bearish trend. The MACD of -35.76 indicates Positive momentum. The RSI at 40.63 is Neutral, neither overbought nor oversold. The STOCH value of 31.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:INDIAMART.
IndiaMART InterMESH Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹43.65B | 10.43 | ― | ― | 6.30% | -14.93% | |
73 Outperform | ₹120.14B | 25.12 | ― | 1.33% | 13.01% | -13.87% | |
62 Neutral | ₹610.75B | 79.47 | ― | 0.44% | 14.80% | 140.64% | |
61 Neutral | ₹2.35T | 310.94 | ― | ― | 168.56% | -33.26% | |
57 Neutral | ₹8.70B | 26.76 | ― | 1.88% | 0.91% | -22.35% | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% | |
48 Neutral | ₹49.05B | -37.96 | ― | ― | -69.21% | ― |
* Services Sector Average
IN:INDIAMART
IndiaMART InterMESH Ltd.
2,032.30
-309.37
-13.21%
IN:JUSTDIAL
Just Dial Ltd.
520.80
-397.30
-43.27%
IN:MATRIMONY
Matrimony.com Ltd.
416.00
-79.19
-15.99%
IN:NAUKRI
Info Edge India Ltd.
926.00
-525.54
-36.21%
IN:NETWORK18
Network18 Media & Investments Limited
32.06
-16.46
-33.92%
IN:ETERNAL
Zomato Ltd.
242.10
12.90
5.63%
IndiaMART InterMESH Ltd. Corporate Events
IndiaMART Board Clears FY26 Results, Proposes Rs. 60 Total Dividend and Sets AGM Date
Apr 30, 2026
IndiaMART InterMESH Ltd.’s board has approved the audited standalone and consolidated financial results for the quarter and full year ended 31 March 2026, with the auditors issuing an unmodified opinion, and the results being made available ...
IndiaMART Reports Investor Meet With Dharohar Capital, Affirms No Sensitive Data Shared
Mar 9, 2026
IndiaMART InterMESH Limited has disclosed that it held a one-on-one video conference meeting on March 9, 2026, with institutional investor Dharohar Capital Partners as part of its regular analyst and investor engagement. The company clarified that...
IndiaMART Reports Regulated One-to-One Investor Call With Sofina SA
Feb 27, 2026
IndiaMART InterMESH Limited disclosed that it held a one‑to‑one video conference call with institutional investor Sofina SA on February 27, 2026, as part of its ongoing analyst and investor engagement. The company clarified that no unp...
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.