Just Dial Ltd. (IN:JUSTDIAL)
:JUSTDIAL
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Just Dial Ltd.
(JUSTDIAL)
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Rating:74Outperform
Price Target:
₹617.00
▼(-16.10% Downside)
Action:ReiteratedDate:02/28/26
The score is primarily supported by strong financial performance (high profitability, low leverage, and growing free cash flow) and an attractive valuation (low P/E). These positives are partially offset by very weak technical conditions, with the stock trading below all major moving averages and bearish momentum signals.
Positive Factors
Revenue Growth
Sustained revenue growth of ~9.5% year-over-year indicates expanding user reach and merchant monetization. For a local search/ads model, steady top-line growth supports recurring subscription and lead revenue streams, enabling durable scale economies and continued reinvestment over 2–6 months.
Negative Factors
Declining EBITDA Margin
A falling EBITDA margin signals rising operating costs or weaker operating leverage. If the trend persists, it can erode the company's core earnings power, reduce sustainable free cash flow and constrain reinvestment capacity, making profitability more sensitive to competitive or cost pressures.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained revenue growth of ~9.5% year-over-year indicates expanding user reach and merchant monetization. For a local search/ads model, steady top-line growth supports recurring subscription and lead revenue streams, enabling durable scale economies and continued reinvestment over 2–6 months.
Read all positive factors
Just Dial Ltd. (JUSTDIAL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹42.52B
Dividend YieldN/A
Average Volume (3M)10.76K
Price to Earnings (P/E)11.1
Beta (1Y)0.93
Revenue Growth6.97%
EPS Growth12.91%
CountryIN
Employees12,834
SectorCommunication Services
Sector Strength97
IndustryInternet Content & Information
Share Statistics
EPS (TTM)16.35
Shares Outstanding85,044,655
10 Day Avg. Volume18,785
30 Day Avg. Volume10,759
Financial Highlights & Ratios
PEG Ratio0.19
Price to Book (P/B)1.50
Price to Sales (P/S)6.04
P/FCF Ratio22.51
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹968.00Price Target Upside31.63% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)65.22
Revenue Forecast (FY)₹12.16B
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 intern...
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 enh...
Just Dial Ltd. Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
90
Very Positive
Cash Flow
80
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 11.77B | 11.42B | 10.43B | 8.45B | 6.47B | 6.75B |
| Gross Profit | 3.39B | 3.87B | 2.41B | 1.29B | 752.30M | 1.60B |
| EBITDA | 6.24B | 3.35B | 5.22B | 2.28B | 1.20B | 3.04B |
| Net Income | 5.68B | 5.84B | 3.63B | 1.63B | 708.30M | 2.14B |
Balance Sheet | ||||||
| Total Assets | 57.88B | 55.21B | 48.61B | 43.37B | 40.33B | 17.86B |
| Cash, Cash Equivalents and Short-Term Investments | 55.70B | 52.79B | 46.25B | 40.78B | 34.88B | 615.20M |
| Total Debt | 950.20M | 998.40M | 853.10M | 683.80M | 553.30M | 629.70M |
| Total Liabilities | 9.04B | 9.14B | 8.37B | 6.70B | 5.47B | 5.22B |
| Stockholders Equity | 48.83B | 46.06B | 40.23B | 36.67B | 34.86B | 12.64B |
Cash Flow | ||||||
| Free Cash Flow | 1.14B | 3.06B | 2.48B | 12.88B | 243.80M | 1.35B |
| Operating Cash Flow | 1.15B | 3.11B | 2.59B | 1.79B | 389.60M | 1.39B |
| Investing Cash Flow | -1.07B | -2.90B | -2.30B | -1.63B | -21.87B | 1.74B |
| Financing Cash Flow | -157.70M | -288.40M | -272.10M | -230.80M | 21.09B | -2.91B |
Just Dial Ltd. Technical Analysis
Negative
735.40
Price Trends
608.10
Negative
671.80
Negative
762.13
Negative
Market Momentum
-29.49
Negative
29.98
Positive
22.25
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 735.4 is above the 20-day moving average (MA) of 526.62, above the 50-day MA of 608.10, and below the 200-day MA of 762.13, indicating a bearish trend. The MACD of -29.49 indicates Negative momentum. The RSI at 29.98 is Positive, neither overbought nor oversold. The STOCH value of 22.25 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
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹42.52B | 11.09 | ― | ― | 6.97% | 12.91% | |
72 Outperform | ₹49.74B | 37.64 | ― | 0.97% | 8.06% | 24.52% | |
71 Outperform | ₹111.03B | 34.32 | ― | 0.28% | 3.57% | 4.74% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
60 Neutral | ₹48.82B | 55.57 | ― | 0.40% | 11.56% | -2.78% | |
56 Neutral | ₹48.11B | 702.73 | ― | ― | 4.25% | 17.51% |
* Communication Services Sector Average
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Just Dial Ltd. Corporate Events
Just Dial Q3 FY26 Revenue Rises 6.4% as Margins Strengthen Despite One-Off Costs
Jan 13, 2026
Just Dial Limited reported a 6.4% year-on-year rise in operating revenue to ₹305.7 crore for the quarter ended December 31, 2025, with EBITDA up 10% to ₹95.2 crore and margins improving to 31.2%. Operating profit before tax climbed 14....
Just Dial Shares Investor Presentation on Q3 and Nine-Month FY2025 Results
Jan 13, 2026
Just Dial Limited has informed stock exchanges that it has prepared and shared an investor presentation covering its unaudited financial results for the third quarter and nine months ended December 31, 2025. The disclosure, made under securities l...
Just Dial to Appeal Rs 21.83 Crore GST Demand and Penalty Order
Dec 27, 2025
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 ...
Just Dial to Appeal Rs 21.83 Crore GST Demand and Penalty Order
Dec 27, 2025
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 avai...
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.