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About
Indiamart Intermesh Ltd (INDIAMART)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 542726 NSE: INDIAMART e-Commerce | Small Cap | Indiamart Intermesh Share Price
₹1,596.65 -30.45 (-1.87%)
As on 19-Oct'26 16:59
Indiamart Intermesh Ltd (INDIAMART)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 542726 NSE: INDIAMART e-Commerce | Small Cap | Indiamart Intermesh Share Price
₹1,596.65 -30.45 (-1.87%)
As on 19-Oct'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹9,603 Cr.
Current Price
₹1,596.7
52-Week Low / High
₹1,575 / 2,525
TTM EPS
₹82
TTM Sales
₹1,611 Cr.
Book Value per Share
₹422.1
P/E Ratio
19.46
Lower than its 5-year historical median
Industry PE
104.2
Price to Book (P/B)
3.78
Lower than its 5-year historical median
Price to Sales (P/S)
5.96
Lower than its 5-year historical median
EV/EBITDA
12.49
Lower than its 5-year historical median
Dividend Yield
3.76%
Profitability Efficiency
Return on Equity (ROE)
21.10%
Outperforms industry median
Return on Capital Employed (ROCE)
28.39%
Outperforms industry median
Return on Assets (ROA)
10.47%
Operating Profit Margin
33.8%
Net Profit Margin
30.25%
Gross Profit Margin
46.6%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
9.3%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
1.39%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-13.8%
Asset Quality
Promoter Holding
49.07%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹2,478 Cr.
Equity
₹60.1 Cr.
Face Value
₹10
All Time Low / High
₹476.00 / 4975.98
Check Before You Invest
Quality
Very GoodValuation
UndervaluedCheck Valuation charts
Price Trend
Weak
Is Indiamart Intermesh Ltd a good quality company?
Indiamart Intermesh Ltd is a good quality company, based on a consistently good multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Indiamart Intermesh Ltd performance compare with that of its Peers?
Revenue growth of Indiamart Intermesh Ltd vs industry peers?
Indiamart Intermesh Ltd revenue CAGR is 18.57%, compared to the industry median CAGR of 0.00%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Indiamart Intermesh Ltd?
Promoters hold 49.07% of the Indiamart Intermesh Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Indiamart Intermesh Ltd over the last decade?
Over the last 5 year(s), the stock has delivered a CAGR of -17.87% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Indiamart Intermesh Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 0% | 0% | 0% | 98% | 42.6% | 23.3% | 17.7% | 25% | 38.4% | 28.9% | - |
| Value Creation Index ⓘ | NA | NA | NA | 6.3 | 2.8 | 0.7 | 0.3 | 0.9 | 1.8 | 1.1 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 309 | 404 | 497 | 624 | 665 | 751 | 939 | 1,139 | 1,320 | 1,443 | 1,472 |
| Sales YoY Gr. | - | 30.8% | 23.2% | 25.4% | 6.7% | 12.9% | 25.1% | 21.3% | 15.9% | 9.3% | - |
| Adj EPS ⓘ | 0.1 | -16 | 3.6 | 26.1 | 47.6 | 51.2 | 45.3 | 61.4 | 102.7 | 89.3 | 89 |
| YoY Gr. | - | -16080% | NA | 617.9% | 82.3% | 7.5% | -11.6% | 35.7% | 67.3% | -13.1% | - |
| BVPS (₹) ⓘ | -70.3 | -79.6 | 26.9 | 45.9 | 265 | 307.5 | 333.4 | 289.1 | 373.2 | 414.9 | 443.8 |
| Adj Net Profit ⓘ | 0.4 | -63.8 | 20.8 | 151 | 289 | 313 | 277 | 368 | 617 | 536 | 535 |
| Cash Flow from Ops. ⓘ | 58.8 | 183 | 259 | 264 | 326 | 407 | 464 | 545 | 614 | 668 | - |
| Debt/CF from Ops. ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 18.7% | 16.8% | 15.4% | 9.3% | ||||
| Adj EPS ⓘ | 112.7% | 13.4% | 25.4% | -13.1% | ||||
| BVPSⓘ | NA | 9.4% | 7.6% | 11.2% | ||||
| Share Price | - | -17.8% | -16.3% | -31.6% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | -0.2 | 22.6 | -27.5 | 69.4 | 30.5 | 17.8 | 14 | 19.2 | 30.5 | 22.3 | 20.7 |
| Op. Profit Mgn % ⓘ | -1 | -47.4 | 4.3 | 27.7 | 50.1 | 41.6 | 27.9 | 29.3 | 40.7 | 37.2 | 36.3 |
| Net Profit Mgn % ⓘ | 0.1 | -15.8 | 4.2 | 24.2 | 43.4 | 41.7 | 29.5 | 32.3 | 46.7 | 37.2 | 36.4 |
| Debt to Equity ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - |
| Working Cap Days ⓘ | 37 | 42 | 35 | 35 | 71 | 104 | 104 | 65 | 44 | 65 | 343 |
| Cash Conv. Cycle ⓘ | -38 | -46 | -30 | -14 | -21 | -16 | -13 | -14 | -14 | -11 | 196 |
Valuation of Indiamart Intermesh - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 318 | 411 | 507 | 639 | 670 | 753 | 985 | 1,197 | 1,388 | 1,569 |
| Operating Expenses ⓘ + | 391 | 487 | 490 | 470 | 341 | 446 | 718 | 865 | 866 | 1,039 |
| Operating Profit ⓘ | -74 | -76 | 17 | 169 | 328 | 308 | 268 | 331 | 523 | 530 |
| Operating Profit Margin (%) | -23.2% | -18.6% | 3.4% | 26.4% | 49.0% | 40.9% | 27.2% | 27.7% | 37.7% | 33.8% |
| Other Income ⓘ + | 14 | 19 | 41 | 69 | 87 | 112 | 181 | 211 | 272 | 204 |
| Interest ⓘ | 0 | 0 | 0 | 3 | 7 | 5 | 8 | 9 | 7 | 3 |
| Depreciation ⓘ | 5 | 3 | 4 | 21 | 16 | 12 | 31 | 36 | 33 | 28 |
| Profit Before Tax ⓘ | -64 | -60 | 54 | 211 | 389 | 390 | 371 | 454 | 706 | 648 |
| Tax ⓘ | 0 | -115 | 34 | 64 | 110 | 93 | 87 | 120 | 155 | 173 |
| Profit After Tax | -64 | 55 | 20 | 147 | 280 | 298 | 284 | 334 | 551 | 475 |
| PAT Margin (%) | -20.3% | 13.3% | 4.0% | 23.1% | 41.8% | 39.5% | 28.8% | 27.9% | 39.7% | 30.3% |
| Adjusted EPS (₹) | -17.6 | 13.7 | 3.5 | 25.5 | 46.1 | 48.7 | 46.4 | 55.7 | 91.8 | 79.0 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 19.60% | 16.30% | 2.10% | 21.60% | 35.90% | 54.50% | 76% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | -395 | -327 | 151 | 263 | 1,601 | 1,861 | 2,033 | 1,699 | 2,148 | 2,352 | |
| Debt + | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 30 | 42 | 13 | 18 | 15 | 18 | 27 | 34 | 27 | 32 | |
| Others Liabilities ⓘ | 586 | 713 | 571 | 817 | 958 | 1,231 | 1,632 | 1,809 | 2,110 | 2,394 | |
| Total Liabilities ⓘ | 221 | 428 | 735 | 1,098 | 2,575 | 3,110 | 3,692 | 3,542 | 4,286 | 4,778 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 9 | 8 | 9 | 86 | 65 | 56 | 553 | 536 | 515 | 494 | |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | |
| Investments ⓘ | 136 | 311 | 607 | 901 | 2,254 | 2,722 | 2,784 | 2,746 | 3,453 | 3,792 | |
| Inventories | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Receivables | 1 | 1 | 1 | 2 | 1 | 1 | 7 | 5 | 4 | 5 | |
| Cash Equivalents | 41 | 47 | 78 | 24 | 78 | 77 | 58 | 101 | 84 | 91 | |
| Others Assets ⓘ | 35 | 61 | 40 | 86 | 176 | 254 | 290 | 154 | 229 | 395 | |
| Total Assets ⓘ | 221 | 428 | 735 | 1,098 | 2,575 | 3,110 | 3,692 | 3,542 | 4,286 | 4,778 | |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | -1 | 179 | 255 | 261 | 323 | 402 | 476 | 559 | 623 | 694 |
| Cash Flow From Investing Activity ⓘ + | -8 | -165 | -276 | -233 | -1,338 | -335 | -324 | 162 | -486 | -347 |
| Cash Flow From Financing Activity ⓘ + | 7 | 15 | 14 | -51 | 1,038 | -58 | -143 | -695 | -148 | -340 |
| Net Cash Flow ⓘ | -1 | 29 | -7 | -23 | 23 | 9 | 9 | 27 | -11 | 7 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | N/A | N/A | 0 | 71.12 | 30.01 | 17.19 | 14.58 | 17.9 | 28.63 | 21.1 |
| ROCE (%) | N/A | N/A | 0 | 98.73 | 42 | 22.72 | 19.3 | 24.42 | 36.38 | 28.39 |
| Asset Turnover Ratio | 1.53 | 1.27 | 0.87 | 0.7 | 0.36 | 0.27 | 0.29 | 0.33 | 0.35 | 0.35 |
| PAT to CFO Conversion(x) | N/A | 3.25 | 12.75 | 1.78 | 1.15 | 1.35 | 1.68 | 1.67 | 1.13 | 1.46 |
| Working Capital Days | ||||||||||
| Receivable Days | 0.40 | 0.50 | 0.50 | 0.60 | 0.80 | 0.60 | 1.60 | 1.80 | 1.20 | 1.10 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
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Indiamart Intermesh Ltd FAQs
The current trading price of Indiamart Intermesh on 19-Oct-2026 16:59 is ₹1,596.7.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 18-Oct-2026 the market cap of Indiamart Intermesh stood at ₹9,602.8 Cr
The latest P/E ratio of Indiamart Intermesh as of 18-Oct-2026 is 17.94.
The latest P/B ratio of Indiamart Intermesh as of 18-Oct-2026 is 3.60.
The 52-week high of Indiamart Intermesh is ₹2,525 and the 52-week low is ₹1,574.9.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Indiamart Intermesh is ₹1,472 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Indiamart Intermesh Ltd is a good quality company.
The key valuation ratios of Indiamart Intermesh Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Indiamart Intermesh Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Indiamart Intermesh Ltd
Indiamart Intermesh is India’s largest online B2B marketplace, enabling businesses across India to discover opportunities, build trusted connections, and grow in an increasingly digital economy. For over three decades, the company has helped buyers and suppliers come together on a robust digital platform that expands market access, improves visibility, and drives business growth.
As India’s enterprises increasingly adopt digital tools, IndiaMART continues to evolve beyond marketplace discovery into a wider business enabler. Through solutions spanning search, matchmaking, lead management, storefronts, communication, and business services, it supports businesses, especially MSMEs, in scaling efficiently and participating more meaningfully in India’s economic growth.
Business area of the company
The company provides an online B2B marketplace for business products and services. It provides a platform to discover products and services and connect with the suppliers of such products and services. Its platform hosts an extensive range of product categories spanning multiple industries, enabling businesses to source everything from pins to planes on one platform. From industrial machinery and construction materials to consumer goods, healthcare supplies and agricultural products, IndiaMART enables improved product discovery and supports enterprises in expanding their business opportunities.
Awards and Accreditations
- 2008: Received the ‘Red Herring 100 Asia 2008’ award in the ‘software’ category.
- 2010: Recognized as one of ‘India’s 25 Most Promising Internet Companies’ by The SmartTechie.
- 2013: Received the ‘Manthan’ award, South Asia and Asia Pacific in the e-business and financial inclusion category.
- 2016: Received the ‘Drivers of Digital Summit & Awards 2016’ for ‘best online classified website’ category.
- 2016: Received the ‘Super SME Awards, 2016’ for ‘Special Contribution Award’ at World Association of Small and Medium Enterprises (WASME).
- 2017: Received the ‘Drivers of Digital Summit & Awards, 2017’ for ‘best online classified website’ category.
- 2017: Received the ‘Global Mobile App Summit Awards, 2017’ for ‘best application in business’ category.
- 2018: Received the ‘Drivers of Digital Summit & Awards, 2018’ for ‘best online classified website’ category.
- 2018: Received the ‘Drivers of Digital Summit & Awards, 2018’ for ‘best online classified application’ category.
- 2019: Received the ‘India Law Awards, 2019’ for ‘Technology, Media and Telecommunication In-House Legal Team’ category.
- 2019: Received the ‘Video Media Awards and Summit, 2019’ for ‘video content in a business website- special mention’ category.
- 2020: ‘Bada Aasaan Hai’ received the ‘Best Video Content in a B2B Marketing Campaign Award’ at the Video Media Awards & Summit, 2020.
- 2021: IndiaMART App won the Best App Award in the Mobile & Tablets category at the Indian Digital Marketing Awards 2021.
- 2022: IndiaMART awarded as Leading Mid-Corporate in Services (Non-IT) category at D&B Business Excellence 2022.
- 2022: Annual Report 2022 won gold at LACP 2022 and ranked 25th worldwide and 5th in India at the Spotlight List.
- 2022: IndiaMART App won the Best Innovative Mobile App award at the 12th India Digital Awards.
- 2023: Won MSME Enabler Award – Tech & Innovation at ET MSME Awards 2023.
- 2023: Integrated Annual Report 2023 won Gold Award by LACP & was featured among top 100 Annual Reports list across the globe.
- 2023: IndiaMART’s Legal Team won the Legal Team of the Year in E-commerce category at ET Legal Awards 2023.
- 2024: Integrated Annual Report 2024 won Gold Award by LACP with a remarkable score of 98/100 & ranked 46th among Top 100 Annual reports globally.
- 2024: Received recognition for India’s Most Trusted Online B2B Marketplace 2024 by Brand Empower.
- 2025: Received Gold Award by LACP with a score of 98/100 & 32nd rank among Top 100 Annual reports globally for Integrated Annual Report 2025.
- 2025: Received recognition as Best DevOps Team at India DevOps Show 2025, hosted by Quantic India.
- 2025: Won ‘Best B2B Customer Experience’ award at India CX Summit 2025.
- 2026: Received Mahatma Award 2026 for Excellence in Corporate Social Responsibility.
- 2026: Won Silver under Data Science Technology of The Year at IAMAI’s India Digital Awards 2026 for Real Time Price Exchange.
Major Events and milestones
- 1999: Incorporation of Company.
- 2003: Launched TrustSeal for documentary verification of customers.
- 2007: Received investment from Bennett, Coleman and Company Limited and Times Internet Limited.
- 2008: Received investment from Intel.
- 2015: Achieved 100,000 premium customers milestone.
- 2016: Received investment from Amadeus, Westbridge, AFIM and Intel.
- 2017: Received further investment from Amadeus, Westbridge and AFIM.
- 2017: Launched payment protection programmed PayX for the purpose of safe and secure payment gateway.
- 2020: Indiamart Intermesh has entered into an agreement to invest in Mobisy Technologies.
- 2021: Expansion of the portfolio with investments in EasyEcom, Aerchain, M1Xchange, Truckhall, Shipway, and Legistify.
- 2022: Acquired Livekeeping Accounting Software and Busy Infotech.
- 2022: Investments in ZIMYO, IB Monotaro, Fleetx, and Realbooks.
- 2023: Introduction of enterprise services IM Star and IM Leader.
- 2024: Launch of IM Insta, ensuring WhatsApp connect with buyers.
- 2025: Launch of IM Star pro and IM Industry Leader Pro.
- 2026: Launch of TrustSEAL pro and Maximiser pro.
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