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Indiamart Intermesh Ltd.

INDIAMARTConsumer Discretionary filings

We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.

Earnings calls

8 transcript(s)/analyst meet(s) served; 0 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 8 documents here); elsewhere sentences render unattributed.

KindDatePeriodServedAttribution rate
TRANSCRIPT202205062022-03-31yes
TRANSCRIPT202207272022-06-30yes
TRANSCRIPT202305032023-03-31yes
TRANSCRIPT202408052024-06-30yes
TRANSCRIPT202410242024-09-30yes
TRANSCRIPT202501242024-12-31yes
TRANSCRIPT202505022025-03-31yes
TRANSCRIPT202607252026-06-30yes

INDIAMART

files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.

Identity

Statement divisiongeneral
Scope servedconsolidated
Panels on this page4

Market

The closes are adjusted for every split and bonus on record inside the period this series covers, and each adjustment is checked against the price move on its ex-date.

Last close1,635.90
52-week range1631.4 – 2504.5
Return 1M-6.54%
Return 3M-16.34%
Return 1Y-31.17%
Return 3Y-44.51%
Return 5Y-61.53%
Market capitalisationnot shown — we could not confirm it
Shares outstandingnot shown — we could not confirm it
P/Enot shown — we could not confirm it
P/Bnot shown — we could not confirm it
EV/EBITDAnot shown — we could not confirm it

Latest quarter filed — period ending 2026-06-30

In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.

Revenue from operations414.00
Other income107.00
Total income521.00
Cost of materials consumed0.00
Purchases of stock-in-trade0.00
Changes in inventories0.00
Employee benefit expense174.00
Finance costs0.00

Ownership — 2026-06-30, and the change from 2026-03-31

HolderPer centChange
promoter and promoter group0.49-0.00
institutions foreign0.200.01
institutions domestic0.12-0.01
mutual funds0.10-0.01
public0.510.00

Documents on file

ClassMost recentOn file
TRANSCRIPT2026-06-308

Financial statements

Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.

Quarterly results, as filed

Line2022-06-302022-09-302022-12-312023-03-312023-06-302023-09-302023-12-312024-03-312024-06-302024-09-302024-12-312025-06-302025-09-302025-12-312026-03-312026-06-30
Revenue from operations225.00241.00251.00269.00282.00295.00305.00315.00331.00348.00354.00372.00391.00402.00404.00414.00
Other income1.0047.00102.0031.0057.0035.0042.0077.0053.0066.0045.0092.0010.00135.00-34.00107.00
Total income226.00287.00354.00300.00339.00329.00347.00392.00384.00413.00399.00464.00401.00537.00370.00521.00
Cost of materials consumed0.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.00
Purchases of stock-in-trade0.000.000.00-0.000.000.000.000.000.000.000.000.000.000.000.000.00
Changes in inventories-0.000.000.00-0.000.000.000.000.000.000.000.000.000.000.000.000.00
Employee benefit expense92.00100.00108.00124.00124.00132.00138.00149.00143.00147.00153.00161.00172.00182.00178.00174.00
Finance costs1.003.002.002.002.002.002.002.002.002.002.001.001.001.001.000.00
Depreciation and amortisation6.008.009.009.007.008.008.0013.008.008.008.007.007.007.007.006.00
Other expenses68.0073.0073.0080.0080.0082.0081.0077.0069.0066.0063.0078.0090.0085.0094.0094.00
Total expenses168.00184.00192.00213.00214.00225.00230.00241.00222.00223.00226.00246.00269.00275.00279.00275.00
Profit before exceptional items and tax58.00104.00162.0086.00125.00104.00117.00151.00163.00190.00173.00218.00132.00262.0091.00246.00
Exceptional items0.000.000.000.00-2.000.000.000.000.000.000.000.000.000.000.000.00
Profit before tax58.00104.00162.0086.00123.00104.00117.00151.00163.00190.00173.00218.00132.00262.0091.00246.00
Current tax22.0021.0026.0027.0018.0025.0023.0029.0029.0046.0040.0039.0040.0043.0040.0043.00
Deferred tax-18.004.0014.00-8.0011.00-1.004.0010.008.00-4.00-2.0012.00-4.0015.00-12.0016.00
Tax expense4.0024.0039.0020.0029.0024.0028.0040.0037.0042.0038.0050.0036.0059.0028.0060.00
Profit for the period47.0068.00113.0056.0083.0069.0082.00100.00114.00135.00121.00154.0083.00188.0050.00172.00
Profit attributable to owners47.0068.00113.0056.0083.0069.0082.00100.00114.00135.00121.00154.000.000.0050.000.00
Profit attributable to non-controlling interests0.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.00
Other comprehensive income0.004.001.00-1.00-0.001.00-1.00-0.002.00-1.00-1.00-2.001.003.002.001.00
Total comprehensive income47.0072.00114.0055.0083.0070.0081.0099.00116.00134.00120.00151.0084.00191.0053.00173.00
Earnings per share, basic15.2922.4536.9218.3013.6011.3613.6616.6219.0022.5420.1825.5913.7731.378.3628.66
Earnings per share, diluted15.2022.3636.9018.2813.5711.3413.6316.5818.9622.4820.1325.5213.7131.248.3328.56

Annual results, as filed

Line2020-03-312021-03-312022-03-312023-03-312024-03-312026-03-31
Revenue from operations639.00670.00754.00985.001,197.001,569.00
Other income69.0087.00112.00180.00211.00204.00
Total income708.00756.00866.001,166.001,407.001,773.00
Cost of materials consumed0.000.000.000.000.000.00
Purchases of stock-in-trade0.000.000.000.000.000.00
Changes in inventories0.000.000.000.000.000.00
Employee benefit expense267.00205.00268.00425.00544.00693.00
Finance costs3.007.005.008.009.003.00
Depreciation and amortisation21.0016.0012.0031.0036.0028.00
Other expenses203.00136.00178.00293.00321.00346.00
Total expenses494.00364.00463.00757.00911.001,070.00
Profit before exceptional items and tax213.00392.00403.00409.00497.00703.00
Exceptional items0.000.000.000.00-2.000.00
Profit before tax213.00392.00403.00409.00495.00703.00
Current tax0.0064.0098.0095.0095.00163.00
Deferred tax64.0046.00-5.00-8.0025.0011.00
Tax expense64.00110.0093.0088.00120.00173.00
Profit for the period147.00280.00298.00284.00334.00475.00
Profit attributable to owners147.00278.00298.00284.00334.00475.00
Profit attributable to non-controlling interests0.000.000.000.000.000.00
Other comprehensive income-6.00-2.000.004.00-1.004.00
Total comprehensive income142.00278.00298.00288.00333.00478.00
Earnings per share, basic51.1496.1597.8292.9655.1879.07
Earnings per share, diluted50.2494.5896.8492.6355.0478.77

Balance sheet, as filed

Line2022-09-302023-03-312023-09-302024-03-312024-09-302025-09-302026-03-31
Total assets3,046.003,445.003,000.003,449.003,613.004,128.004,625.00
Non-current assets1,050.001,081.001,096.001,078.001,141.001,332.001,431.00
Current assets1,995.002,363.001,904.002,370.002,472.002,795.003,194.00
Property, plant and equipment61.0054.0055.0048.0043.0028.0021.00
Capital work-in-progress0.000.000.000.000.000.000.00
Goodwill456.00454.00454.00454.00454.00454.00454.00
Other intangible assets50.0045.0039.0034.0029.0023.0018.00
Inventories0.000.000.000.000.000.000.00
Trade receivables6.007.005.005.003.004.006.00
Cash and cash equivalents21.0058.0031.0085.0029.0028.0080.00
Total equity and liabilities3,046.003,445.003,000.003,449.003,613.004,128.004,625.00
Equity1,878.002,058.001,545.001,736.001,877.002,138.002,400.00
Equity share capital31.0031.0060.0060.0060.0060.0060.00
Other equity1,848.002,028.001,485.001,676.001,817.002,078.002,340.00
Total liabilities1,167.001,386.001,455.001,712.001,736.001,990.002,224.00
Non-current liabilities469.00530.00576.00645.00654.00773.00859.00
Current liabilities698.00856.00879.001,068.001,082.001,217.001,365.00
Borrowings, non-current0.000.000.000.000.000.000.00
Borrowings, current0.000.000.000.000.000.000.00
Trade payables26.0027.0026.0034.0033.0036.0032.00

Cash flow, as filed

Line2022-03-312022-09-302023-03-312023-09-302024-03-312024-09-302025-09-302026-03-31
Net cash from operating activities402.00152.00476.00192.00559.00239.00275.00694.00
Net cash from investing activities-335.00-44.00-324.00468.00162.00-154.0013.00-347.00
Net cash from financing activities-58.00-137.00-143.00-687.00-695.00-141.00-334.00-340.00
Purchase of property, plant and equipment2.0015.0017.004.0015.003.005.007.00
Net increase in cash9.00-28.009.00-27.0027.00-56.00-46.007.00
con:CFO.BEFORE_TAX499.00201.00551.00238.00651.00304.00342.00851.00
con:INTEREST_RECEIVED.OPERATING0.000.000.000.000.000.000.000.00
con:INTEREST_PAID.OPERATING0.000.000.000.000.000.000.000.00
con:DIVIDENDS_RECEIVED.OPERATING0.000.000.000.000.000.000.000.00
con:TAX_PAID.OPERATING97.0048.0075.0046.0092.0064.0066.00157.00
con:CF_OTHER.OPERATING0.000.000.000.000.000.000.000.00
con:INVESTMENTS_PURCHASED0.0025.0072.0017.0026.00102.0047.0075.00
con:INVESTMENTS_SOLD0.000.0028.000.000.000.000.000.00
con:PPE_DISPOSALS0.001.001.000.000.000.000.000.00
con:CF_INVESTING.SUBSIDIARIES_SOLD0.000.000.000.000.000.000.000.00
con:CF_INVESTING.SUBSIDIARIES_ACQUIRED395.00508.00507.000.000.000.000.000.00
con:CF_INVESTING.JV_SOLD0.000.000.000.000.000.000.000.00
con:CF_INVESTING.JV_ACQUIRED0.000.000.000.000.000.000.000.00

Who owns it

The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.

Holder2023-06-302023-09-252023-09-302023-12-312024-03-312024-06-302024-09-302024-12-312025-03-312025-06-302025-09-302025-12-312026-03-312026-06-30
Promoter and promoter group49.2249.2149.2149.2149.2149.2149.2149.1749.1749.170.490.490.490.49
Domestic institutions5.645.585.478.2510.6211.8212.1113.8615.5015.300.130.160.140.12
Mutual funds—————————13.640.120.150.120.10
Insurance companies0.680.530.440.480.660.850.780.740.550.420.000.000.000.01
Foreign institutions26.7627.2327.3424.1623.0723.3723.8621.0618.9519.220.220.180.190.20
Government—————————0.000.000.000.000.00
Public50.6750.6850.6850.7150.7450.7450.7550.7450.7950.800.510.510.510.51
Non-institutional18.2617.8717.8718.3017.0515.5514.7915.8216.3416.290.160.160.180.19
Shares outstanding6122914859979148599791485997914859979148599791485997914860032148600321486003214860032148600871486008714860143148

Related parties

Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.

CounterpartyRelationshipTypeAmount in the periodTransactions
Dinesh Chandra AgarwalKey Managament PersonnelRemuneration38,360,000.001
Mobisy Technologies Private LimitedAssociateInterest received, Loan30,150,000.002
Brijesh Kumar AgrawalKey Managament PersonnelRemuneration27,660,000.001
Prateek ChandraKey Managament PersonnelRemuneration13,090,000.001
Manoj BhargavaKey Managament PersonnelRemuneration12,990,000.001
Busy Infotech Private LimitedWholly owned SubsidiaryAny other transaction9,260,000.005
Jitin DiwanKey Managament PersonnelRemuneration5,930,000.001
Livekeeping Technologies Private LimitedSubsidiaryAny other transaction, Sale of fixed assets5,370,000.005
Simply Vyapar Apps Private LimitedAssociateAny other transaction3,540,000.001
Mansa Enterprises Private LimitedGroup CompanyAny other transaction3,140,000.001
Dhruv PrakashNon-executive directorAny other transaction2,500,000.002
Bharat AgarwalRelative of KMPRemuneration2,130,000.001
Pay with Indiamart Private LimitedWholly owned Subsidiary companyAny other transaction1,610,000.004
Vivek Narayan GourIndependent DirectorAny other transaction1,300,000.001
Rajesh SawhneyIndependent DirectorAny other transaction1,000,000.001

What management said

Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.

DateQuarterWho spoke
2026-07-25Q1FY27Read the call
2025-05-02Q4FY25Read the call
2025-01-24Q3FY25Read the call
2024-10-24Q2FY25Read the call
2024-08-05Q1FY25Read the call
2023-05-03Q4FY23Read the call
2022-07-27Q1FY23Read the call
2022-05-06Q4FY22Read the call

What they said about it, quarter by quarter

TopicQ1FY23Q1FY25Q1FY27Q2FY25Q3FY25Q4FY22Q4FY23Q4FY25
Capital allocationCurrently, I think new subscriber acquisition is slowly approaching towards half in half.So, customer service cost is the manpower of the existing customer servicing, and sales and marketing is the manpower of the new client acquisition si…On the overall decline of the buyer, because currently we are experimenting more with Google, and since our primarily source of new buyer acquisition …We are seeing Justdial being very aggressive IndiaMART InterMESH Limited October 19, 2024 in customer acquisition.I think let's wait for a quarter or two when I can give you a really good news about the churn and we have all the money and resources to go back and …On the acquisition side, I think one we have done aggressive salary revision which you can see in the in the cost side as well as we have also issued …In addition to this, the acquisition of the Accounting Software Services segment in the first quarter of the last financial year has further contribut…Also, Board of Directors have recommended a final dividend of Rs.
CostsAverage order value because IndiaMART is a horizontal platform is very difficult to say average because there is clothing, there are machinery and the…Second, then we, got doing few cost optimisation initiatives in the last few quarters, which have been now realised and therefore, there is a saving w…———If I look at the annual trend, the employee cost per employee went down in FY22. If I divide the employee expenditure by the total number of employees…——
Debt and cash——Will it be invoice discounting or will it be just working capital finance?It cannot be different, so collection to cash flow has been trending between 35% to 40%.The cash flows from operations stood at Rs.So, I think, in this particular year, you may see that revenue per employee will remain a little bit lower as the cost will remain, but it will all ca…Busy also generated positive cash flows from operations of about Rs.—
DemandOn the traffic and unique business enquiries they have stabilized, I don’t think 1-2% decline will matter and on the vendor side what had happened is …——Just like in Google, if you look at the ad words, every category, you can do a bidding and do a demand-supply based matchmaking, whereas in the beginn…—Now, so that answers the new cost run rate, as well as the Q4 versus Q1. On the unique inquiry side, last couple of quarters has had this unique deman…Continued growth momentum in the paying subscription suppliers is largely driven by recovery across industries and demand for digital transformation d…However, this has resulted into lower number of unique business enquiries, but good quality enquiries which are in demand.
GuidanceOn the overall basis, we expect our margins to remain stable at 20% to 30% for the next two or three quarters, similar to every time we continue to be…So some of these costs will come back, so we expect the margin to taper off a little bit from here, maybe at around 33-34%, and that should be the ste…——As and when customer growth increases in future, we anticipate the margins will align with the gradual operating leverage.Should we expect, you know, this higher subscriber addition to have any implications on the ARPU, you know, that it shouldn't dilute because, you know…On the renewal side, as I've been guiding, we are probably about 90% of pre-COVID levels.And once we push the pedal on gross adds, it will come down to a sustainable margin of about 33% to 35%, which we have been guiding in the last few qu…
MarginI would say that similar increase you should assume in the manpower cost and outsourced cost, so that we will maintain about similar 30% EBITDA margin…EBITDA of IndiaMART standalone business stood at Rs.—And on back of operational leverage, cost control, clearly, we're seeing quarter-after-quarter EBITDA margins moving up.EBITDA of IndiaMART standalone business stood at about Rs.In the past also, I'm telling even during the IPO and before the IPO, we had Rs 182 crores of cash from operation, but only Rs 60 crores of, you know …0.7 crores at about 6% margin and for the entire year this was Rs.EBITDA of IndiaMART standalone business stood at Rs.
PeopleFirstly, we added some 226 employees in product and tech this quarter, will it be entirely related to busy Infotech IndiaMART InterMESH Limited July 2…So most of the joinings that you have seen in the headcount are, June, later half joining as well as some of the joinings have happened in July.—And in COVID, a lot of costs were also cut down, because rent was reduced by half, no transportation, no hiring, so they were like that.Just to get that point a bit more, have you started hiring a specific vertical focused employees and who can better extract value for you within certa…Secondly, could you also help us understand you know, how are you trying to control attrition in your sales team, servicing team, you know, because in…During the last year, we have added almost 900 new employees, taking the total employee headcount to 4,583.—
PricingAnd also, in terms of the addition that if I see the incremental ARPU that is obviously on the lower side, so obviously, are we providing some kind of…So, my question is, do you try to ascertain if the pricing is acceptable to your clients in the sense that the cost that they're incurring on IndiaMAR…So there are a lot of areas where category-based pricing is required, and we touched a little bit on your three tier pricing system for the category.Currently, we have been operating largely as a horizontal marketplace with flattish pricing across the category, across the location, across the quant…The first one is, we have been seeing these churn-related issues since the time we increased our pricing on the silver category, right, the last year,…But over the time, it will catch up, we are confident that as we are going to be building a little bit of a differential pricing here and there.So is this a result of price hikes or higher usage?But going forward if there are better conversions for the suppliers, when the competition is less for them, will you be able to pass on significant pr…
Revenue growthSo how should we see the growth of business going forward?366 crores in Q1 representing year- on-year growth of 14%.The first is, over the last three years, we have seen a very good revenue growth, approximately 28% compounded and now that is ex of accounting change…I think till last quarter, till 1Q, collections growth was in the range of around 15% to 20%.354 crores in Q3, representing a year-on-year growth of 16%.If you can give the ARPU growth of premium customer what has been the trend for last few years?985 crores in the full-year representing an year-on-year growth of 33% and 31% respectively.1,388 crores for the full-year, representing a year-on-year growth of 13% and 16%, respectively.