IndiaMART InterMESH Ltd. (INDIAMART) AI Stock Analysis

• Market Cap: ₹152.28B
• Dividend Yield: 1.17%
• Average Volume (3M): 11.92K
• Price to Earnings (P/E): 25.8
• Beta (1Y): 1.02
• Revenue Growth: 14.70%
• EPS Growth: 62.33%
• Country: IN
• Employees: 5,384
• Sector: Services
• Sector Strength: N/A
• Industry: Internet Content & Information
• EPS (TTM): 25.50
• Shares Outstanding: 60,032,146
• 10 Day Avg. Volume: 5,005
• 30 Day Avg. Volume: 11,922
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹2,703.60
• Price Target Upside: 7.22% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 5

• Rating: 80 Outperform
• Price Target: ₹2,988.00 ▲(18.50% 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. Business Overview & Revenue Model

Company Description

IndiaMART 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 Money

IndiaMART 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 exhibits strong financial performance with significant revenue growth, robust profitability, and efficient cash generation. The balance sheet is healthy with low leverage, though the high cash position suggests potential inefficiencies.

Income Statement

IndiaMART InterMESH Ltd. exhibits strong income statement performance with significant revenue growth and robust profitability. The revenue growth rate from 2024 to 2025 is approximately 16%, indicating a healthy upward trajectory. Gross and net profit margins are strong, highlighting effective cost management. The EBIT and EBITDA margins also indicate operational efficiency, contributing to a high score.

Balance Sheet

The balance sheet reflects a robust financial position with a low debt-to-equity ratio, suggesting prudent leverage management. The equity ratio is healthy, indicating a significant portion of the company's assets are funded by equity. Return on equity is strong, reflecting effective use of equity capital. However, the high cash position could indicate inefficiencies in asset utilization.

Cash Flow

Cash flow metrics are solid, with a strong free cash flow and consistent operating cash flow growth. The free cash flow to net income ratio is high, reflecting efficient cash conversion from profits. Operating cash flow to net income ratio suggests good cash generation relative to accounting profits, contributing to a favorable cash flow score.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	14.29B	13.88B	11.97B	9.85B	7.53B	6.70B
Gross Profit	9.61B	7.77B	9.64B	7.65B	6.19B	5.70B
EBITDA	6.98B	5.14B	5.00B	4.11B	4.08B	4.12B
Net Income	5.90B	5.51B	3.34B	2.84B	2.98B	2.80B
Balance Sheet
Total Assets	40.23B	41.34B	34.49B	34.45B	29.49B	25.11B
Cash, Cash Equivalents and Short-Term Investments	26.40B	28.72B	23.23B	23.45B	23.77B	22.95B
Total Debt	304.19M	330.37M	406.67M	459.00M	562.80M	634.24M
Total Liabilities	19.79B	19.48B	17.12B	13.86B	10.75B	9.01B
Stockholders Equity	20.44B	21.85B	17.36B	20.59B	18.74B	16.11B
Cash Flow
Free Cash Flow	7.00B	6.15B	5.44B	4.59B	3.98B	3.22B
Operating Cash Flow	7.09B	6.23B	5.59B	4.76B	4.02B	3.23B
Investing Cash Flow	-3.77B	-4.86B	1.62B	-3.24B	-3.35B	-13.38B
Financing Cash Flow	-3.41B	-1.48B	-6.95B	-1.43B	-575.21M	10.38B

IndiaMART InterMESH Ltd. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 2521.50
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:INDIAMART, the sentiment is Neutral. The current price of 2521.5 is below the 20-day moving average (MA) of 2573.46, below the 50-day MA of 2550.81, and above the 200-day MA of 2277.60, indicating a neutral trend. The MACD of -6.88 indicates Positive momentum. The RSI at 45.41 is Neutral, neither overbought nor oversold. The STOCH value of 49.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:INDIAMART.

IndiaMART InterMESH Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INDIAMART	80 Outperform	₹152.28B	25.78		1.17%	14.70%	62.33%
JUSTDIAL	80 Outperform	₹70.81B	11.75		―	7.68%	43.22%
Sector *	66 Neutral	€3.99B	17.04	-2.44%	3.90%	1.88%	-16.39%
INFIBEAM	64 Neutral	₹52.35B	20.89		0.30%	42.31%	9.54%
IONEXCHANG	59 Neutral	₹64.61B	24.69		0.34%	12.99%	1.85%
PNCINFRA	59 Neutral	₹78.37B	9.61		0.20%	-21.75%	-10.33%
MMTC	45 Neutral	₹92.96B	95.37		―	―	-53.64%