# IndiaMART InterMESH (INDIAMART) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/indiamart

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹1,545
- Change: -1.99%
- As of: 2026-11-06
- 1D return: -1.99%
- 5D return: +3.89%
- 1M return: -3.60%
- Latest complete quarter: fy27_q2

## Faxioms Analysis

_As of 2026-11-06_

### Technical Outlook

INDIAMART (₹1,545.00) exhibits a clear bearish technical structure on daily and weekly timeframes as of 2026-11-06, while the monthly trend remains bullish but weak. On the daily chart, price is below all key moving averages (EMA/SMA 20/50/200) and the Supertrend, with an ADX of 21.01 indicating developing downward momentum. The weekly setup reinforces this with a strong bearish trend (ADX 30.23) and price below all indicators. Conversely, the monthly timeframe shows price above the Supertrend but below moving averages, with a very weak ADX of 14.12, suggesting a potential long-term base or consolidation phase.

Participation has been negative recently, highlighted by an extreme volume-driven drop on 2026-10-30 (-3.7% return, 4.9x volume ratio) and a moderate monthly anomaly on 2026-11-06. Price is positioned near the lower end of its 252-day range (+7.5%) and in the middle of its 20-day range (+42.7%). Immediate support lies at ₹1,540.00 (0.32% below), with resistance at ₹1,556.53 (0.75% above). The stock carries significant risk, evidenced by a current drawdown of -43.6% against a maximum historical drawdown of -45.8%, and annualized volatility of +26.6%. An active monthly Inside Bar pattern suggests potential for a breakout, but direction is currently biased downward by shorter-term trends.

- Trend Divergence: Daily and weekly trends are strongly bearish (price below all MAs/Supertrend; Weekly ADX 30.23), while the monthly trend is bullish but weak (ADX 14.12, price above Supertrend but below MAs).
- Key Levels: Immediate support at ₹1,540.00 (-0.32%); immediate resistance at ₹1,556.53 (+0.75%). A break below ₹1,540 could test ₹1,536.77 (-0.53%), while a rise above ₹1,556.53 may face resistance at ₹1,587.77 (+2.77%).
- Risk & Volatility: Current drawdown is -43.6% (near max drawdown of -45.8%). Annualized volatility is high at +26.6%, with recent extreme selling pressure observed on 2026-10-30.
- Pattern Context: An active monthly 'Inside Bar' formation suggests consolidation; confirmation of direction depends on whether price breaks above ₹1,556.53 (bullish) or below ₹1,540.00 (bearish).

- Inside Bar
- Outside Bar
- Shooting Star
- Bearish Engulfing Reversal

### News Context

Indiamart Intermesh reported Q2 FY2027 results (ended September 30, 2026) with consolidated revenue of ₹429 crores (10% YoY growth) and net profit of ₹91 crores. The paying supplier base contracted by 615 to 217,000, driven by elevated churn in the Silver subscription tier, while Platinum and Gold customers contributed approximately 75% of revenue. Management noted that unique business enquiries declined 10-15% from peak levels due to strategic data protection against LLM scraping and shifts in Google search behavior. Subsidiary BUSY Infotech posted billing of ₹46 crores (20% YoY growth) and sold 11,000 new licenses. On the market front, the stock closed at ₹1,545 on November 6, 2026, reflecting a -2.0% daily decline and a significant -37.5% one-year return. Technical indicators show a bearish daily trend with the price trading below key moving averages.

- Q2 FY2027 financials: Revenue of ₹429 crores (+10% YoY) and net profit of ₹91 crores; subsidiary BUSY Infotech grew billing by 20% YoY to ₹46 crores.
- Subscription dynamics: Paying suppliers fell by 615 to 217,000 due to Silver-tier churn; top-tier (Platinum/Gold) customers now account for ~75% of revenue.
- Operational headwinds: Unique business enquiries dropped 10-15% from peaks as the company implements data protection measures against LLM scraping.
- Market performance: Stock closed at ₹1,545 on Nov 6, 2026 (-2.0% daily), with a -37.5% one-year return and bearish short-term technical trends.

- Please find enclosed the Transcript of Earnings Conference Call for Analysts and Investors held on Tuesday, October 27, 2026, with respect to the financial results and developments of the Company for quarter and half year ended September 30, 2026. |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates
- INDIAMART INTERMESH LIMITED has informed the Exchange about Transcripts - earnings or quarterly calls |SUBJECT: Analyst/Investor Meet Para A-XBRL
- Please find enclosed herewith a copy of newspaper publication with respect to Audited Consolidated & Standalone Financial Results for the quarter and half year ended September 30, 2026. |SUBJECT: Copy of Newspaper Publication
- Please find enclosed outcome of Analyst/Institutional investor meet/call. |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates
- INDIAMART INTERMESH LIMITED has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL

### Official Filings

IndiaMART InterMESH Limited reported audited financial results for the half-year ended September 30, 2026, on October 27, 2026. The company achieved consolidated revenue from operations of ₹429 crores in Q2 FY2027, reflecting 10% year-on-year growth, with a net profit of ₹91 crores. On a six-month basis, total income reached ₹9,420.95 million and net profit was ₹1,293.87 million (Basic EPS: ₹15.09). Management highlighted that while Platinum and Gold customers contributed approximately 75% of revenue, the paying supplier base declined by 615 to 217,000 due to elevated churn in the Silver subscription tier. Unique business enquiries fell 10-15% from peak levels, attributed to strategic data protection measures against LLM scraping and shifts in Google search behavior. Subsidiary BUSY Infotech grew billing by 20% YoY to ₹46 crores. The statutory auditor, B S R & Co. LLP, issued an unmodified opinion on the results.

- H1 FY2027 Consolidated Net Profit: ₹1,293.87 million (Basic EPS: ₹15.09); H1 Standalone Net Profit: ₹5,252 million (Basic EPS: ₹87.49).
- Q2 FY2027 Revenue Growth: Consolidated revenue from operations rose 10% YoY to ₹429 crores; Net profit for the quarter was ₹91 crores.
- Customer Mix Shift: Paying supplier base contracted by 615 to 217,000 due to Silver-tier churn, while Platinum and Gold segments accounted for ~75% of revenue.
- Enquiry Volume Decline: Unique business enquiries dropped 10-15% from peaks, linked to anti-scraping measures and search engine behavior changes.

- [Please find enclosed the Transcript of Earnings Conference Call for Analysts and Investors held on Tuesday, October 27, 2026, with respect to the financial results and developments of the Company for quarter and half year ended September 30, 2026. |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/INDIAMART_31102026125746_Earning_call_transcript.pdf)
- [INDIAMART INTERMESH LIMITED has informed the Exchange about Transcripts - earnings or quarterly calls |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17528_WebXMLFile_20261101_001257063.xml)
- [Please find enclosed herewith a copy of newspaper publication with respect to Audited Consolidated & Standalone Financial Results for the quarter and half year ended September 30, 2026. |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/INDIAMART_28102026152429_IntimationletterNewspaperpublicationResults.pdf)
- [Please find enclosed outcome of Analyst/Institutional investor meet/call. |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/INDIAMART_28102026185841_InvestorMeetDisclosure_28102026.pdf)
- [INDIAMART INTERMESH LIMITED has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17528_WebXMLFile_20261028_190402427.xml)
- [Indiamart Intermesh Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/INDIAMART_27102026151151_OutcomeofBoardMeetingOct_272026.pdf)
- [Please find enclosed herewith the copy of Audited Consolidated and Standalone Financial Statements of the Company along with the Auditor's Report thereon for the quarter ended September 30, 2026.The Financial Statements along with the Auditor's Report are also being disseminated on the Company's website at https://investor.indiamart.com/FinancialResultsStatements.aspx |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/INDIAMART_27102026152536_FinancialStatementsOct2026.pdf)
- [INDIAMART INTERMESH LIMITED has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17528_WebXMLFile_20261027_171802501.xml)
- [INDIAMART INTERMESH LIMITED has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17528_WebXMLFile_20261027_200540772.xml)
- [Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that the audio and video recording of Earnings Conference Call for Analysts and Investors held on October 27, 2026, with respect to the financial results and developments of the Company for quarter ended September 30, 2026 is available on the Company s website at https://investor.indiamart.com/FinancialResultsStatements.aspx |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/INDIAMART_27102026202036_AudioVideoEarningCall.pdf)

### Fundamentals

Indiamart Intermesh demonstrates a robust top-line trajectory with sales rising to ₹1,569 crore in FY2026 (up from ₹1,388 crore in FY2025) and continuing to grow sequentially to ₹429 crore in Q2 FY2026-27. However, earnings quality has deteriorated significantly; net profit fell 14% to ₹475 crore in FY2026 from ₹551 crore in FY2025, despite operating profit remaining stable at ₹475 crore. This divergence is driven by a sharp decline in other income, which dropped from ₹272 crore to ₹204 crore, and a negative impact of ₹8 crore in Q2 FY2026-27. Cash generation remains strong, with cash flow from operations increasing to ₹694 crore in FY2026, supported by an efficient cash conversion cycle of just one day. The balance sheet is conservative, with borrowings reduced to ₹20 crore as of Sep 2026 and zero capital work-in-progress. Shareholding shows a gradual exit by FIIs (down to 20.32%) and DIIs (down to 9.61%), while promoters maintain a ~49% stake.

- Top-line growth persists with TTM sales at ₹1,649 crore, but net profit contracted to ₹475 crore in FY2026 due to collapsing other income rather than core operational weakness.
- Operating profit held steady at ₹475 crore in FY2026, indicating that the margin compression is non-operational, likely linked to investment or interest income volatility.
- Balance sheet remains pristine with negligible debt (₹20 crore as of Sep 2026), zero CWIP, and a highly efficient working capital cycle of 1 day.
- Institutional ownership is contracting, with FII and DII stakes falling to 20.32% and 9.61% respectively in Sep 2026, contrasting with stable promoter holding.

### Bear Case

Indiamart Intermesh exhibits significant near-term technical weakness and substantial historical drawdowns as of 6 November 2026. The stock closed at ₹1,545.0, down from a previous close of ₹1,576.3, with daily technical indicators signaling a bearish trend. The Supertrend direction is bearish on both daily and weekly timeframes, supported by negative slopes in the 20-day and 50-day simple moving averages (-12.85% and -19.33% respectively over five days). Downward pressure is evident as the minus DI (22.89) exceeds the plus DI (21.76) on the daily chart, and significantly dominates on the weekly chart (minus DI 27.35 vs. plus DI 8.58). Performance metrics reflect prolonged underperformance, with returns of -37.5% over one year, -29.6% year-to-date, and -24.9% over six months. The stock is currently trading 43.6% below its peak, approaching its maximum drawdown of -45.8%. While monthly trends remain bullish, the immediate operational reality for investors involves navigating a confirmed downtrend with high volatility (annualized volatility +26.6%) and limited upside momentum in the short term.

- Daily and weekly Supertrend directions are bearish, with the weekly minus DI (27.35) heavily outweighing the plus DI (8.58), indicating strong downward selling pressure.
- The stock has suffered a current drawdown of -43.6%, nearing its historical maximum drawdown of -45.8%, with one-year returns at -37.5% and YTD returns at -29.6%.
- Technical structure shows deteriorating momentum, evidenced by negative slopes in the 20-day SMA (-12.85%) and 50-day SMA (-19.33%), alongside an annualized volatility of +26.6%.
- Immediate resistance lies close at ₹1,556.53 (0.75% above), while support is tested at ₹1,540.0 (0.32% below), suggesting tight consolidation within a broader downtrend.

- [Please find enclosed the Transcript of Earnings Conference Call for Analysts and Investors held on Tuesday, October 27, 2026, with respect to the financial results and developments of the Company for quarter and half year ended September 30, 2026. |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/INDIAMART_31102026125746_Earning_call_transcript.pdf)
- [INDIAMART INTERMESH LIMITED has informed the Exchange about Transcripts - earnings or quarterly calls |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17528_WebXMLFile_20261101_001257063.xml)
- [Please find enclosed herewith a copy of newspaper publication with respect to Audited Consolidated & Standalone Financial Results for the quarter and half year ended September 30, 2026. |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/INDIAMART_28102026152429_IntimationletterNewspaperpublicationResults.pdf)
- [Please find enclosed outcome of Analyst/Institutional investor meet/call. |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/INDIAMART_28102026185841_InvestorMeetDisclosure_28102026.pdf)
- [INDIAMART INTERMESH LIMITED has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17528_WebXMLFile_20261028_190402427.xml)
- [Indiamart Intermesh Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/INDIAMART_27102026151151_OutcomeofBoardMeetingOct_272026.pdf)
- [Please find enclosed herewith the copy of Audited Consolidated and Standalone Financial Statements of the Company along with the Auditor's Report thereon for the quarter ended September 30, 2026.The Financial Statements along with the Auditor's Report are also being disseminated on the Company's website at https://investor.indiamart.com/FinancialResultsStatements.aspx |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/INDIAMART_27102026152536_FinancialStatementsOct2026.pdf)
- [INDIAMART INTERMESH LIMITED has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17528_WebXMLFile_20261027_171802501.xml)
- [INDIAMART INTERMESH LIMITED has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17528_WebXMLFile_20261027_200540772.xml)
- [Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that the audio and video recording of Earnings Conference Call for Analysts and Investors held on October 27, 2026, with respect to the financial results and developments of the Company for quarter ended September 30, 2026 is available on the Company s website at https://investor.indiamart.com/FinancialResultsStatements.aspx |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/INDIAMART_27102026202036_AudioVideoEarningCall.pdf)

### FAQs

**What were the key financial results for the quarter ended September 30, 2026?**

For Q2 FY2027 (quarter ended September 30, 2026), Indiamart Intermesh reported consolidated revenue from operations of ₹429 crores, reflecting 10% year-on-year growth. The company posted a net profit of ₹91 crores during this period.

**How has the paying supplier base changed recently, and what is driving this shift?**

The paying supplier base declined by 615 to 217,000 due to elevated churn in the Silver subscription tier. Despite this decline, Platinum and Gold customers continue to contribute approximately 75% of the company's revenue.

**Why have unique business enquiries declined, and how is the company responding?**

Management noted that unique business enquiries have declined 10-15% from peak levels. This is attributed to strategic data protection measures against Large Language Model (LLM) scraping and shifts in Google search behavior. The company is integrating AI across platforms, including voice AI serving 80,000-100,000 buyers daily.

**What are the current technical price levels and trend indicators for INDIAMART?**

As of November 6, 2026, the stock closed at ₹1,545.0 with a market capitalization of approximately ₹9,480 crores. Daily technical trends are bearish, with resistance near ₹1,556.53 and support at ₹1,540.0. The stock has experienced a significant drawdown of -43.6% from its peak.

- [Please find enclosed the Transcript of Earnings Conference Call for Analysts and Investors held on Tuesday, October 27, 2026, with respect to the financial results and developments of the Company for quarter and half year ended September 30, 2026. |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/INDIAMART_31102026125746_Earning_call_transcript.pdf)
- [INDIAMART INTERMESH LIMITED has informed the Exchange about Transcripts - earnings or quarterly calls |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17528_WebXMLFile_20261101_001257063.xml)
- [Please find enclosed herewith a copy of newspaper publication with respect to Audited Consolidated & Standalone Financial Results for the quarter and half year ended September 30, 2026. |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/INDIAMART_28102026152429_IntimationletterNewspaperpublicationResults.pdf)
- [Please find enclosed outcome of Analyst/Institutional investor meet/call. |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/INDIAMART_28102026185841_InvestorMeetDisclosure_28102026.pdf)
- [INDIAMART INTERMESH LIMITED has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17528_WebXMLFile_20261028_190402427.xml)
- [Indiamart Intermesh Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/INDIAMART_27102026151151_OutcomeofBoardMeetingOct_272026.pdf)
- [Please find enclosed herewith the copy of Audited Consolidated and Standalone Financial Statements of the Company along with the Auditor's Report thereon for the quarter ended September 30, 2026.The Financial Statements along with the Auditor's Report are also being disseminated on the Company's website at https://investor.indiamart.com/FinancialResultsStatements.aspx |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/INDIAMART_27102026152536_FinancialStatementsOct2026.pdf)
- [INDIAMART INTERMESH LIMITED has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17528_WebXMLFile_20261027_171802501.xml)
- [INDIAMART INTERMESH LIMITED has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17528_WebXMLFile_20261027_200540772.xml)
- [Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that the audio and video recording of Earnings Conference Call for Analysts and Investors held on October 27, 2026, with respect to the financial results and developments of the Company for quarter ended September 30, 2026 is available on the Company s website at https://investor.indiamart.com/FinancialResultsStatements.aspx |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/INDIAMART_27102026202036_AudioVideoEarningCall.pdf)
## Technical analytics

- As of: 2026-11-06
- Daily trend: Strong Downtrend
- Weekly trend: Moderate Downtrend
- Pivot point: ₹1,587.77
- Risk regime: Higher Price Risk

### Support levels
- 1540
- 1465.4
- 1536.7666666666667

### Resistance levels
- 1652.75
- 1771.9
- 1820

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | -1.99% |
| return_10 | -1.77% |
| return_1m | -3.01% |
| return_1y | -37.53% |
| return_20 | -3.60% |
| return_3m | -12.39% |
| return_5 | +3.89% |
| return_6m | -24.89% |
| return_since_start | -32.38% |
| return_ytd | -29.58% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | high_risk |
| label | Higher price risk |
| summary | Recent drawdown or price variability is materially high and may lead to larger short-term outcomes. |
| maximum_drawdown | -45.75% |
| annualized_volatility | +26.59% |

## Quarterly financials

- Latest complete quarter: fy27_q2

# Indiamart Intermesh Limited Q2 FY2026-27: Revenue up 9.6%, profit down 47% QoQ

Revenue from operations rose 3.4% quarter on quarter and 9.6% year on year to ₹428.6 crore in Q2 FY2026-27. Profit for the period was ₹90.8 crore, down 47.3% from Q1 FY2026-27 but up 9.8% from Q2 FY2025-26, as income fell sequentially while expenses were broadly stable.

## Revenue grew as income declined sequentially

Revenue from operations increased from ₹414.4 crore in Q1 FY2026-27 to ₹428.6 crore in Q2, extending a four-quarter rise from ₹391 crore in Q2 FY2025-26. Income, however, fell 19.2% quarter on quarter to ₹421 crore from ₹521.1 crore in Q1. Other income was negative ₹7.6 crore in Q2. Inter-segment revenue was ₹30 lakh, compared with nil in Q1.

## Stable expenses could not prevent a sequential profit decline

Expenses were ₹276.3 crore, up 0.5% from ₹274.8 crore in Q1 FY2026-27 and 2.6% from ₹269.2 crore in Q2 FY2025-26. Employee benefit expense was ₹171 crore, depreciation and amortisation ₹6.4 crore, finance costs ₹50 lakh, and other expenses ₹98.4 crore. Other expenses rose 4.8% quarter on quarter and 9.6% year on year.

Profit before tax was ₹144.7 crore, down 41.3% from Q1 FY2026-27’s ₹246.3 crore and up 9.6% from Q2 FY2025-26’s ₹132 crore. Tax expense was ₹38.6 crore, compared with ₹59.5 crore in Q1. Current tax rose to ₹49.1 crore from ₹43 crore, while deferred tax was a credit of ₹10.5 crore, against a charge of ₹16.5 crore in Q1.

Profit from continuing operations was ₹106.1 crore. A ₹15.3 crore loss from associates and joint ventures brought profit for the period to ₹90.8 crore, versus ₹172.2 crore in Q1 FY2026-27 and ₹82.7 crore in Q2 FY2025-26.

## Earnings per share followed the profit trend

Basic earnings per share were ₹15.09, down from ₹28.66 in Q1 FY2026-27 and up from ₹13.77 in Q2 FY2025-26. Diluted earnings per share were ₹15.05, compared with ₹28.56 and ₹13.71, respectively. Paid-up equity share capital was ₹60.1 crore, unchanged from Q1.

## Balance sheet remained investment-heavy

At 30 September 2026, total assets were ₹4,608.8 crore, slightly below ₹4,624.6 crore at 31 March 2026. Current assets were ₹3,120.6 crore, including current investments of ₹3,008.7 crore and cash and cash equivalents of ₹38.1 crore; cash and cash equivalents stood at ₹80.4 crore at 31 March. Other bank balances were ₹21.6 crore.

Noncurrent investments were ₹461.5 crore, up from ₹407.9 crore at 31 March, while investments accounted for using the equity method were ₹346.6 crore, down from ₹355 crore. Equity attributable to owners of the parent was ₹2,316.3 crore, compared with ₹2,400.4 crore at 31 March. Trade receivables were ₹4.2 crore, versus ₹5.5 crore, and goodwill was unchanged at ₹454.3 crore.

Comprehensive income was ₹91.9 crore for the quarter, including other comprehensive income of ₹1.1 crore.

## Key Takeaway

Revenue continued to advance year on year, but the sharp sequential fall in income alongside largely stable expenses coincided with lower pre-tax and net profit than in Q1 FY2026-27. Year-on-year profit remained higher, while current investments continued to account for most of current assets at the September-end.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q1
- As of: 2026-06-30
- Promoter holding: +49.07%
- FII holding: +19.92%
- DII holding: +12.11%
- Mutual fund holding: +10.44%
- Retail holding: +10.71%
- Promoter pledged: +0.00%

### Major reported shareholders

- Dinesh Chandra Agarwal — +27.98%
- Brijesh Kumar Agrawal — +18.96%
- Nalanda India Equity Fund Limited — +7.54%
- ICICI Prudential Mutual Fund — +6.05%
- UTI Mutual Fund — +2.77%
- Madhup  Agrawal — +1.28%
- Chetna Agarwal — +0.50%
- Pankaj Agarwal — +0.49%
- Anand Kumar Agrawal — +0.23%
- Meena Agrawal — +0.23%

## Official filings

- 2026-10-31 — Generic Announcement: Indiamart Intermesh Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/INDIAMART_31102026125746_Earning_call_transcript.pdf)
- 2026-10-31 — Generic Announcement: Indiamart Intermesh Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17528_WebXMLFile_20261101_001257063.xml)
- 2026-10-28 — Generic Announcement: Indiamart Intermesh Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/INDIAMART_28102026152429_IntimationletterNewspaperpublicationResults.pdf)
- 2026-10-28 — Generic Announcement: Indiamart Intermesh Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/INDIAMART_28102026185841_InvestorMeetDisclosure_28102026.pdf)
- 2026-10-28 — Generic Announcement: Indiamart Intermesh Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17528_WebXMLFile_20261028_190402427.xml)
- 2026-10-27 — Generic Announcement: Indiamart Intermesh Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/INDIAMART_27102026151151_OutcomeofBoardMeetingOct_272026.pdf)
- 2026-10-27 — Generic Announcement: Indiamart Intermesh Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/INDIAMART_27102026152536_FinancialStatementsOct2026.pdf)
- 2026-10-27 — Generic Announcement: Indiamart Intermesh Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17528_WebXMLFile_20261027_171802501.xml)
- 2026-10-27 — Generic Announcement: Indiamart Intermesh Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17528_WebXMLFile_20261027_200540772.xml)
- 2026-10-27 — Generic Announcement: Indiamart Intermesh Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/INDIAMART_27102026202036_AudioVideoEarningCall.pdf)
- 2026-10-27 — Financial Results Filing: Indiamart Intermesh Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1747309_27102026112939_WEB.xml)
- 2026-10-27 — Financial Results Filing: Indiamart Intermesh Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1747311_27102026113303_WEB.xml)
- 2026-10-20 — Generic Announcement: Indiamart Intermesh Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_17528_WebXMLFile_20261020_165107598.xml)
- 2026-10-20 — Board Meeting Notice: Indiamart Intermesh Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/INDIAMART_20102026170246_Intimationofboardmeeting.pdf)
- 2026-10-20 — Board Meeting Notice: Indiamart Intermesh Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_17528_WebXMLFile_20261020_171208392.xml)
- 2026-10-20 — Generic Announcement: Indiamart Intermesh Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_17528_WebXMLFile_20261020_171208392.xml)
- 2026-10-20 — Generic Announcement: Indiamart Intermesh Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/INDIAMART_20102026172324_SE_Intimation_of_Investor_Call_2026.pdf)
- 2026-10-20 — Generic Announcement: Indiamart Intermesh Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17528_WebXMLFile_20261020_173258065.xml)
- 2026-10-19 — Shareholding Disclosure: Indiamart Intermesh Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1741416_19102026031659_WEB.xml)
- 2026-09-28 — Generic Announcement: Indiamart Intermesh Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/INDIAMART_28092026221802_InvestorMeetDisclosure_28092026.pdf)
- 2026-09-28 — Generic Announcement: Indiamart Intermesh Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17528_WebXMLFile_20260928_222157855.xml)
- 2026-09-25 — Generic Announcement: Indiamart Intermesh Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/INDIAMART_25092026170149_InvestorMeetDisclosure_25092026.pdf)
- 2026-09-25 — Generic Announcement: Indiamart Intermesh Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17528_WebXMLFile_20260925_170653410.xml)
- 2026-09-24 — Generic Announcement: Indiamart Intermesh Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/INDIAMART_24092026194145_InvestorMeetDisclosure_24092026.pdf)
- 2026-09-24 — Generic Announcement: Indiamart Intermesh Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/INDIAMART_24092026194154_InvestorMeetDisclosure_24092026.pdf)

## News and market events

- 2026-10-28 — MONEYCONTROL: **Buy IndiaMart InterMesh: target of Rs 1900: ICICI Securities** — Buy IndiaMart InterMesh: target of Rs 1900: ICICI Securities Follow Us On: Stocks: A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Others Trending Topics more Sensex Today Jio Platforms Share Price Jio IPO Listing Price Cyclone Arnab Live Gold Price Akash Ambani Karnataka MLC Polls Israel exit polls HUL Q2 Results Prashant Kishor News more Business Markets Stocks India News City News Economy Mutual Funds Personal Finance IPO News Startups Markets more Home Currencies Commodities Pre-Market IPO Global Market US Markets Bonds Silver MCX Price Gold MCX Price Personal Finance more Home Loans u — [Source](https://www.moneycontrol.com/news/business/earnings/buy-indiamart-intermesh-target-of-rs-1900-icici-securities-14062183.html)
- 2026-10-28 — The Hindu: **Indiamart Q2 net profit up 9.8% at ₹90.7 cr, revenue rises to ₹428.64 cr** — Indiamart Q2 net profit up 9.8% to ₹90.7 cr, revenue rises 9.6% to ₹428.64 cr; upbeat quarterly results and stock gain. — [Source](https://www.thehindubusinessline.com/companies/indiamart-q2-net-profit-up-98-at-907-cr-revenue-rises-to-42864-cr/article71634207.ece)
- 2026-10-27 — Economic Times: **IndiaMART bets on AI to sharpen its edge, but warns of uncertain returns** — IndiaMART InterMESH Ltd reported a 9.8% increase in net profit for the second quarter of 2026. The company has integrated artificial intelligence into over 20 operational functions, enhancing various processes. AI models such as ChatGPT and Claude are utilized to optimize operations and improve efficiency. Revenue for the quarter increased by 9.7%, reaching ₹429 crore, reflecting growth in the standalone business. — [Source](https://economictimes.indiatimes.com/industry/services/retail/indiamart-bets-on-ai-to-sharpen-its-edge-but-warns-of-uncertain-returns/articleshow/135236716.cms)
- 2026-10-27 — CNBC-TV18: **IndiaMART Intermesh Q2 Results: Net profit up 10%, EBITDA margin improves 400 bps** — IndiaMART reported a 9.8% YoY rise in net profit to ₹90.8 crore and a 9.7% increase in revenue to ₹429 crore in the second quarter. EBITDA grew 23.4% to ₹160 crore, while EBITDA margin expanded by 400 basis points to 37.2%. — [Source](https://www.cnbctv18.com/market/stocks/indiamart-intermesh-share-price-q2-results-net-profit-up-10-ebitda-margin-improves-400-bps-20020398.htm)
- 2026-10-27 — The Hindu: **Flat opening seen amidst positive Asian markets** — Gift Nifty is ruling at 22,760 with respect to Nifty futures closing of 22,774 on the NSE. Key results will anchor today’s movement — [Source](https://www.thehindubusinessline.com/markets/flat-opening-seen-amidst-positive-asian-markets/article71629598.ece)
- 2026-09-29 — Mint: **Quick-commerce crunch forces D2C food brands to widen offline trade | Mint** — As dark stores limit space for new launches ahead of the festive season, D2C food brands are turning to B2B marketplaces to build a presence in neighbourhood stores and supermarkets. — [Source](https://www.livemint.com/industry/retail/quick-commerce-d2c-food-brands-11790578839016.html)
- 2026-07-27 — The Hindu: **Stock Market Today Live, July 27: Gift Nifty hints at positive open; F&O expiry, Q1 earnings in focus** — Sensex Today, Nifty 50 | Stock Market Live Updates - Find here all the live updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for 27th July 2026. — [Source](https://www.thehindubusinessline.com/markets/sensex-nifty50-today-stock-market-live-updates-27-july-2026/article71269037.ece)
- 2026-07-26 — Economic Times: **Ahead of Market: 10 things that will decide stock market action on Monday** — Indian equities extended losses for a fifth straight session, pressured by elevated oil prices and persistent FII outflows. Despite intraday recovery, sentiment remains weak amid rising US yields and global uncertainty. Analysts flag key technical levels for Nifty, while stock-specific action and broader market resilience remain in focus. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/ahead-of-market-10-things-that-will-decide-stock-market-action-on-monday/articleshow/132640467.cms)
- 2026-07-22 — The Hindu: **HDFC Bank shares tumble over 8% in three days on net interest margin concerns** — The three-day sell-off knocked HDFC Bank to the third spot in India’s market-cap rankings, behind Reliance Industries and Bharti Airtel — [Source](https://www.thehindubusinessline.com/markets/stock-markets/hdfc-bank-shares-tumble-over-8-in-three-days-on-net-interest-margin-concerns/article71253282.ece)
- 2026-07-22 — CNBC-TV18: **Sensex Today | Stock Market LIVE Updates: Nifty Midcap falls over 700 points; IndiaMart at 52-wk low** — Sensex Today | Stock Market LIVE Updates: We are in the second half of the day's trade and the markets remain under immense pressure, with the Nifty index falling over 150 points, slumping towards 24,000. The Nifty Bank is down over 500 points, slumping towards 57,300. IndiGo, Cipla and and SBI are the top laggards. — [Source](https://www.cnbctv18.com/market/stock-market-live-updates-sensex-nifty-50-today-crude-bandhan-drl-adani-nestle-hpcl-eternal-bpcl-share-price-liveblog-19950949.htm)
- 2026-07-22 — CNBC-TV18: **Q1 Results LIVE Updates: Dr. Reddy's, Eternal, HPCL report today; Cyient DLM, JSW Infra react** — Q1 Results LIVE Updates: Three Nifty 50 companies, Eternal, Dr. Reddy's Laboratories and Nestle India, are reporting their earnings today. dani Green Energy, BPCL, Adani Power, CIE Automotive, CSB Bank, Waterways Leisure Tourism, HEG, HPCL, HFCL, IIFL Finance, JSW Energy, IndusInd Bank, United Spirits are among the other results scheduled for today. Also watch for result reactions from stocks like Bandhan Bank, JSW Infra, Indian Hotels and many others. Watch this space for all the LIVE updates. — [Source](https://www.cnbctv18.com/market/q1-results-live-updates-eternal-dr-reddys-hpcl-bpcl-indusind-bank-csb-adani-heg-iifl-fin-jsw-indian-hotels-indiamart-cyient-dlm-share-price-liveblog-19950958.htm)
- 2026-07-21 — CNBC-TV18: **Q1 Results Highlights: Indian Hotels net profit rises 21%; Sunteck Realty EBITDA jumps 39%** — Q1 Results Highlights: Nifty 50 company Bajaj Auto reported its earnings today. TVS Motor, M&M Financial, Aavas Financiers, Indian Hotels, AB Sun Life AMC, Adani Energy, Arvind Fashions, Bandhan Bank, Adani Total Gas, Canara Robeco AMC, Cyient DLM, Crisil, Gabriel India, Hatsun Agro, Granules India, IndiaMART, Mastek, JSW Infrastructure, NIIT, MedPlus Health, Sagility, Sunteck Realty, Welspun Specialty and Trident were among the other companies that reported their June quarter results during the day. Paytm, Canara HSBC Life and others also remained in focus following their earnings. This live blog tracked all the key Q1 updates throughout the session — [Source](https://www.cnbctv18.com/market/q1-results-live-updates-bajaj-auto-paytm-tvs-mm-fin-bandhan-indian-hotels-adani-rallis-indiamart-cyient-dlm-share-price-liveblog-19950068.htm)
- 2026-07-21 — The Hindu: **Q1 Results 21st July Highlights: ATGL Q1 PAT down 14%, Adani Energy PAT zooms, TVS Motor, Bajaj Auto & Granules India profit rise,** — Q1 Results Today, 21st July 2026 Highlights: Find all the latest Q1 results 2026 Highlights of Bajaj Auto, Adani Energy Solutions, TVS Motor Company, Indian Hotels Company, JSW Infrastructure, Adani Total Gas, Mahindra and Mahindra Financial Services, Anthem Biosciences, Bandhan Bank, Aditya Birla Sun Life AMC, CRISIL, TVS Holdings, Gabriel India, Granules India, Hatsun Agro Products, Sagility, Bharat Coking Coal, Atlanta Electricals, Trident, AAVAS Financiers, IndiaMART InterMESH, Kirloskar Pne... — [Source](https://www.thehindubusinessline.com/markets/q1-results-today-highlights-bajaj-auto-adani-energy-tvs-motor-atgl-tvs-holdings-crisil-mastek-indiamart-abslamc-ultratech-paytm-iob-kvb-sobha-sagility-cyient-dlm-results-21-july-2026/article71244506.ece)

## Business profile

**Strategic vision:** Online B2B marketplace connecting buyers and suppliers in India.

### Business segments
- **B2B Marketplace Platform:** The platform facilitates buyer-supplier discovery through product searches, buying requirement postings, and direct contact, while suppliers list businesses for leads and advertising.
- **Digital Services & Solutions:** The platform integrates payment enablement, transaction management dashboards, and communication tools to streamline business negotiations and procurement.

### Competitive strengths
- Acts as an information matchmaker and digital service provider.

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## Freshness and sources

- Data as of: 2026-11-06
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/indiamart
Markdown representation: https://faxioms.com/stocks/indiamart?render=md