Just Dial Ltd. (JUSTDIAL) AI Stock Analysis

• Market Cap: ₹60.76B
• Dividend Yield: N/A
• Average Volume (3M): 10.76K
• Price to Earnings (P/E): 10.7
• Beta (1Y): 0.89
• Revenue Growth: 6.97%
• EPS Growth: 12.91%
• Country: IN
• Employees: 12,834
• Sector: Communication Services
• Sector Strength: 97
• Industry: Internet Content & Information
• EPS (TTM): 14.04
• Shares Outstanding: 85,044,655
• 10 Day Avg. Volume: 18,785
• 30 Day Avg. Volume: 10,759
• PEG Ratio: 0.19
• Price to Book (P/B): 1.50
• Price to Sales (P/S): 6.04
• P/FCF Ratio: 22.51
• 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: ₹1,060.00
• Price Target Upside: 48.38% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 73 Outperform
• Price Target: ₹917.00 ▲(28.36% Upside)

Just Dial Ltd. shows strong financial performance with high profitability and a robust balance sheet, which are the most significant factors driving the score. The technical analysis indicates a bearish trend, and the valuation suggests the stock is reasonably priced. The absence of earnings call data and corporate events does not impact the score.

Positive Factors

Financial Stability

Just Dial's strong balance sheet with low debt levels and high equity ratio indicates financial stability, providing resilience against economic fluctuations and enabling strategic investments.

Revenue Growth

Consistent revenue growth reflects the company's ability to expand its market reach and enhance service offerings, supporting long-term business sustainability and competitive positioning.

Cash Generation

Strong cash flow growth indicates effective cash management, providing the company with the flexibility to reinvest in growth opportunities and maintain operational stability.

Negative Factors

Operational Efficiency

A declining EBITDA margin suggests potential challenges in maintaining operational efficiency, which could impact profitability if not addressed through cost optimization or revenue enhancement strategies.

Free Cash Flow Efficiency

Lower free cash flow efficiency may indicate challenges in converting net income into cash, potentially affecting the company's ability to fund operations and growth initiatives without external financing.

EBITDA Margin Pressure

Pressure on EBITDA margins could reflect increased operational costs or competitive pricing pressures, which may necessitate strategic adjustments to sustain profitability.

Just Dial Ltd. Business Overview & Revenue Model

Company Description

Just Dial Limited engages in the search engine business under the Justdial brand name in India and internationally. The company offers local search, search related, and software services through various platforms, including internet, mobile internet, over the telephone, and text. It also provides review and rating certification services under the JD Ratings name; and online payment services under the JD Pay name. In addition, the company engages in the advertising and events business; and the operation of JD Social, a social sharing platform, as well as Search Plus, JD Maps, JD Omni, and other platforms. Further, it offers website development and maintenance services. As of June 30, 2021, the company had a database of approximately 30.6 million listings. Just Dial Limited was incorporated in 1993 and is based in Mumbai, India.

How the Company Makes Money

Just Dial generates revenue primarily through a subscription-based model, where businesses pay for listings on the platform to enhance their visibility. The company offers various paid services, including featured listings, advertisements, and enhanced profiles that allow businesses to showcase their offerings more effectively. Additionally, Just Dial earns revenue from lead generation services, where businesses receive inquiries and leads from potential customers. Partnerships with local businesses and service providers also contribute to its earnings, as these collaborations often involve revenue-sharing agreements. Furthermore, Just Dial has expanded its revenue streams by venturing into e-commerce and providing digital marketing solutions, thus diversifying its income sources.

Just Dial Ltd. Financial Statement Overview

Summary

Just Dial Ltd. demonstrates strong revenue growth and profitability with a net profit margin of 51.15% and a robust balance sheet with low leverage. However, there are concerns about operational efficiency affecting cash flow margins.

Income Statement

Just Dial Ltd. demonstrates strong revenue growth with a 9.5% increase from 2024 to 2025. The company has a remarkable net profit margin of 51.15%, and a gross profit margin of 39.11% for 2025, indicating efficient cost management and profitability. However, the EBITDA margin shows a decrease from previous years, suggesting potential pressure on operational efficiencies.

Balance Sheet

The balance sheet is robust with a low debt-to-equity ratio of 0.02 and a high equity ratio of 83.42%, indicating strong financial stability. The return on equity is impressive at 12.69%, reflecting effective use of shareholders' funds to generate profit. Just Dial Ltd. maintains a significant cash position, enhancing its liquidity and financial flexibility.

Cash Flow

Just Dial Ltd. has shown healthy free cash flow growth of 25.38% from 2024 to 2025, indicating effective cash generation. The operating cash flow to net income ratio is 0.53, suggesting a solid conversion of net income into cash. However, the free cash flow to net income ratio is slightly lower at 0.52, which may point to the need for improving operational cash flow efficiency.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	11.59B	11.42B	10.43B	8.45B	6.47B	6.75B
Gross Profit	3.73B	3.87B	2.41B	1.29B	752.30M	1.60B
EBITDA	6.60B	3.35B	5.22B	2.28B	1.20B	3.04B
Net Income	6.03B	5.84B	3.63B	1.63B	708.30M	2.14B
Balance Sheet
Total Assets	0.00	55.21B	48.61B	43.37B	40.33B	17.86B
Cash, Cash Equivalents and Short-Term Investments	52.79B	52.79B	46.25B	40.78B	34.88B	615.20M
Total Debt	0.00	998.40M	853.10M	683.80M	553.30M	629.70M
Total Liabilities	-46.06B	9.14B	8.37B	6.70B	5.47B	5.22B
Stockholders Equity	46.06B	46.06B	40.23B	36.67B	34.86B	12.64B
Cash Flow
Free Cash Flow	0.00	3.06B	2.48B	12.88B	243.80M	1.35B
Operating Cash Flow	0.00	3.11B	2.59B	1.79B	389.60M	1.39B
Investing Cash Flow	0.00	-2.90B	-2.30B	-1.63B	-21.87B	1.74B
Financing Cash Flow	0.00	-288.40M	-272.10M	-230.80M	21.09B	-2.91B

Just Dial Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 714.40
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:JUSTDIAL, the sentiment is Negative. The current price of 714.4 is below the 20-day moving average (MA) of 724.45, below the 50-day MA of 736.68, and below the 200-day MA of 835.11, indicating a bearish trend. The MACD of -2.23 indicates Negative momentum. The RSI at 42.26 is Neutral, neither overbought nor oversold. The STOCH value of 38.69 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:JUSTDIAL.

Just Dial Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JUSTDIAL	73 Outperform	₹60.76B	10.70	―	―	6.97%	12.91%
INFIBEAM	73 Outperform	₹54.07B	20.33	―	0.27%	60.67%	15.90%
ICRA	72 Outperform	₹58.57B	31.05	―	0.97%	8.06%	24.52%
HAPPYFORGE	69 Neutral	₹105.02B	38.68	―	0.28%	3.57%	4.74%
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
IONEXCHANG	60 Neutral	₹51.97B	19.99	―	0.40%	11.56%	-2.78%
MHRIL	57 Neutral	₹61.58B	45.99	―	―	4.25%	17.51%

Just Dial Ltd. Corporate Events

Just Dial to Appeal Rs 21.83 Crore GST Demand and Penalty Order

Just Dial Limited has disclosed that it received an order dated 26 December 2025 from the Assistant Commissioner of State Tax, Mazgaon, Mumbai, imposing a penalty of Rs 6.62 crore under Section 74 of the Central and Maharashtra Goods and Services Tax Acts for alleged excess availment of input tax credit on common services during FY 2018-19. The order also raises a demand for additional tax and interest aggregating Rs 15.21 crore, and while the company plans to appeal the decision, it has stated that the financial impact is limited to the amounts specified in the order and that there is no impact on its operations or other activities.

Just Dial to Appeal Rs 21.83 Crore GST Demand and Penalty Order

Just Dial Limited has disclosed that it has received an order from the Assistant Commissioner of State Tax, Mazgaon, Mumbai, imposing a penalty of Rs. 6.62 crore under the Central and Maharashtra Goods and Services Tax Acts for alleged excess availment of input tax credit on common services in FY 2018-19, along with a demand for additional tax and interest aggregating Rs. 15.21 crore. The company has stated it will appeal the order and clarified that while the financial impact is limited to the amounts specified, there is no effect on its operations or other business activities, signaling that day-to-day functioning and service delivery remain unaffected despite the tax dispute.

Just Dial Reports Q2 FY26 Financial Results with Revenue Growth

Just Dial Limited announced its unaudited financial results for the second quarter of fiscal year 2026, reporting a 6.4% increase in revenue to ₹303.1 Crores and an EBITDA of ₹87.1 Crores with a margin of 28.7%. Despite a slight decrease in quarterly unique visitors and a decline in net profit by 22.5% year-over-year, the company saw a significant increase in cash and investments by 12.7% to ₹5,569.7 Crores, indicating strong financial positioning.

Just Dial Releases Q2 2025 Financial Results

Just Dial Limited has released an investor presentation detailing its unaudited financial results for the second quarter and half-year ending September 30, 2025. This disclosure is part of the company’s compliance with regulatory requirements and aims to inform stakeholders about its financial performance, potentially impacting investor perceptions and market positioning.