IndiaMART InterMESH Ltd. (INDIAMART) AI Stock Analysis

• Market Cap: ₹127.04B
• Dividend Yield: 1.33%
• Average Volume (3M): 4.35K
• Price to Earnings (P/E): 23.6
• Beta (1Y): 1.04
• Revenue Growth: 13.36%
• EPS Growth: 24.85%
• Country: IN
• Employees: 5,384
• Sector: Services
• Sector Strength: N/A
• Industry: Internet Content & Information
• EPS (TTM): 13.80
• Shares Outstanding: 60,087,147
• 10 Day Avg. Volume: 3,668
• 30 Day Avg. Volume: 4,347
• PEG Ratio: 0.34
• Price to Book (P/B): 5.66
• Price to Sales (P/S): 8.91
• P/FCF Ratio: 20.11
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 76 Outperform
• Price Target: ₹2,769.00 ▲(27.86% Upside)

IndiaMART InterMESH Ltd. demonstrates strong financial performance with high profitability and effective cash flow management, contributing significantly to the overall score. Technical analysis indicates neutral momentum with potential overbought conditions, while valuation metrics suggest the stock is fairly valued. The absence of earnings call data and corporate events does not impact the score.

Positive Factors

Cash Generation

Strong cash generation capabilities provide IndiaMART with the flexibility to invest in growth opportunities and enhance shareholder value.

Profitability

Robust profitability margins indicate effective cost management and a strong competitive position in the B2B marketplace.

Balance Sheet Health

A strong balance sheet with minimal leverage risk enhances financial stability and reduces vulnerability to economic fluctuations.

Negative Factors

Net Income Decline

A decrease in net income may signal challenges in maintaining profitability, necessitating careful monitoring of cost and revenue strategies.

Stockholders' Equity Decrease

A reduction in stockholders' equity could impact financial flexibility and investor confidence, requiring strategic management attention.

Revenue Growth

Moderate revenue growth may indicate challenges in market expansion or competitive pressures, affecting long-term growth prospects.

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 suppliers. Its platform serves small and medium enterprises, large enterprises, and individuals. The company was incorporated in 1999 and is based in Noida, India.

How the Company Makes Money

IndiaMART generates revenue primarily through subscription fees charged to suppliers for listing their products and services on the platform. These subscription plans provide various features including enhanced visibility, lead generation, and access to premium services. Additionally, the company earns income from advertising services where suppliers can promote their listings through paid advertisements. Other revenue streams include transaction fees for facilitating sales between buyers and suppliers, as well as value-added services such as logistics support and payment solutions. Strategic partnerships with financial institutions and technology providers also contribute to IndiaMART's earnings by expanding its service offerings and enhancing platform capabilities.

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

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

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

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.

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: Negative
• Last Price: 2165.70
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• 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 Negative. The current price of 2165.7 is below the 20-day moving average (MA) of 2202.59, below the 50-day MA of 2301.23, and below the 200-day MA of 2386.55, indicating a bearish trend. The MACD of -39.68 indicates Positive momentum. The RSI at 36.60 is Neutral, neither overbought nor oversold. The STOCH value of 27.02 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INDIAMART	76 Outperform	₹127.04B	23.59	―	1.33%	13.36%	24.85%
INFIBEAM	73 Outperform	₹53.76B	20.22	―	0.27%	60.67%	15.90%
JUSTDIAL	73 Outperform	₹61.26B	11.04	―	―	6.97%	12.91%
IONEXCHANG	60 Neutral	₹51.55B	19.83	―	0.40%	11.56%	-2.78%
PNCINFRA	57 Neutral	₹61.76B	7.68	―	0.23%	-30.54%	-35.13%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
MMTC	50 Neutral	₹107.64B	48.71	―	―	-17.88%	7.14%

IndiaMART InterMESH Ltd. Corporate Events

IndiaMART Discloses Outcome of Investor Meeting

IndiaMART InterMESH Ltd. disclosed the outcome of a meeting with Marval Capital Ltd, conducted via video conference, as per regulatory requirements. The meeting did not involve any sharing of unpublished price-sensitive information, and the latest investor presentation is accessible on the company’s website.

IndiaMART Releases Earnings Call Transcript for Q2 FY2026

IndiaMART InterMESH Ltd. has released the transcript of its earnings conference call for the quarter and half-year ending September 30, 2025. The call, held on October 17, 2025, discussed the company’s financial performance and developments, providing insights into its operations and strategic positioning in the market. This release is significant for stakeholders as it offers a detailed view of the company’s financial health and strategic direction.

IndiaMART Schedules Investor Meeting with DT Partners

IndiaMART InterMESH Ltd. has announced a scheduled meeting with DT Partners, a single investor or institution, on October 19, 2025. The meeting will be conducted over a call, and no unpublished price-sensitive information will be disclosed. This engagement reflects IndiaMART’s ongoing efforts to maintain transparency and communication with its investors, which is crucial for its market positioning and stakeholder relations.

IndiaMART Releases Audited Financial Statements for September 2025

IndiaMART InterMESH Ltd. has released its audited financial statements for the quarter and half-year ending September 2025, showcasing its financial performance and compliance with Indian Accounting Standards. The release of these statements underscores the company’s commitment to transparency and provides stakeholders with insights into its financial health, potentially impacting investor confidence and market positioning.