Reported Earnings • Jul 22
First quarter 2027 earnings: EPS exceeds analyst expectations First quarter 2027 results: EPS: ₹28.66 (up from ₹25.59 in 1Q 2026). Revenue: ₹5.21b (up 40% from 1Q 2026). Net income: ₹1.72b (up 12% from 1Q 2026). Profit margin: 33% (down from 41% in 1Q 2026). Revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Trade Distributors industry in Asia. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Announcement • Jul 14
IndiaMART InterMESH Limited to Report Q1, 2027 Results on Jul 21, 2026 IndiaMART InterMESH Limited announced that they will report Q1, 2027 results on Jul 21, 2026 Upcoming Dividend • Jun 12
Upcoming dividend of ₹60.00 per share Eligible shareholders must have bought the stock before 19 June 2026. Payment date: 29 July 2026. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 3.0%. Within top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (0.2%). Price Target Changed • May 11
Price target decreased by 7.0% to ₹2,334 Down from ₹2,510, the current price target is an average from 18 analysts. New target price is 13% above last closing price of ₹2,065. Stock is down 9.9% over the past year. The company is forecast to post earnings per share of ₹91.30 for next year compared to ₹79.07 last year. Reported Earnings • May 05
Full year 2026 earnings: EPS misses analyst expectations Full year 2026 results: EPS: ₹79.07 (down from ₹91.84 in FY 2025). Revenue: ₹17.7b (up 28% from FY 2025). Net income: ₹4.75b (down 14% from FY 2025). Profit margin: 27% (down from 40% in FY 2025). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 10%. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Trade Distributors industry in Asia. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Declared Dividend • May 02
Dividend of ₹60.00 announced Shareholders will receive a dividend of ₹60.00. Ex-date: 19th June 2026 Payment date: 29th July 2026 Dividend yield will be 2.8%, which is higher than the industry average of 0.1%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (27% cash payout ratio). The dividend has increased by an average of 35% per year over the past 6 years. However, payments have been volatile during that time. EPS is expected to grow by 34% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 01
IndiaMART InterMESH Limited announces Annual dividend, payable on July 29, 2026 IndiaMART InterMESH Limited announced Annual dividend of INR 30.0000 per share payable on July 29, 2026, ex-date on June 19, 2026 and record date on June 19, 2026. Announcement • Apr 30
IndiaMART InterMESH Limited, Annual General Meeting, Jun 29, 2026 IndiaMART InterMESH Limited, Annual General Meeting, Jun 29, 2026, at 10:00 Indian Standard Time. Announcement • Apr 24
IndiaMART InterMESH Limited to Report Q4, 2026 Results on Apr 30, 2026 IndiaMART InterMESH Limited announced that they will report Q4, 2026 results on Apr 30, 2026 Reported Earnings • Jan 21
Third quarter 2026 earnings: EPS and revenues exceed analyst expectations Third quarter 2026 results: EPS: ₹31.37 (up from ₹20.18 in 3Q 2025). Revenue: ₹4.02b (up 13% from 3Q 2025). Net income: ₹1.88b (up 56% from 3Q 2025). Profit margin: 47% (up from 34% in 3Q 2025). Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 56%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Trade Distributors industry in Asia. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Jan 13
IndiaMART InterMESH Limited to Report Q3, 2026 Results on Jan 20, 2026 IndiaMART InterMESH Limited announced that they will report Q3, 2026 results on Jan 20, 2026 Reported Earnings • Oct 19
Second quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2026 results: EPS: ₹13.77 (down from ₹22.54 in 2Q 2025). Revenue: ₹3.91b (up 13% from 2Q 2025). Net income: ₹827.0m (down 39% from 2Q 2025). Profit margin: 21% (down from 39% in 2Q 2025). Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) missed analyst estimates by 35%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Trade Distributors industry in Asia. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Oct 10
IndiaMART InterMESH Limited to Report Q2, 2026 Results on Oct 17, 2025 IndiaMART InterMESH Limited announced that they will report Q2, 2026 results on Oct 17, 2025 Announcement • Sep 22
IndiaMART InterMESH Limited Announces Cassation of Rajesh Sawhney as an Independent Director, Effective September 22, 2025 IndiaMART InterMESH Limited announced that Mr. Rajesh Sawhney has completed his second term as an Independent Director and consequently ceased to be an Independent Director of the Company with effect from the close of business hours on September 22, 2025. Board Change • Sep 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Vasuta Agarwal was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 21
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: EPS: ₹25.59 (up from ₹19.00 in 1Q 2025). Revenue: ₹4.65b (up 40% from 1Q 2025). Net income: ₹1.54b (up 35% from 1Q 2025). Profit margin: 33% (down from 34% in 1Q 2025). Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) also surpassed analyst estimates by 25%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Trade Distributors industry in Asia. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Jul 11
IndiaMART InterMESH Limited to Report Q1, 2026 Results on Jul 18, 2025 IndiaMART InterMESH Limited announced that they will report Q1, 2026 results on Jul 18, 2025 Upcoming Dividend • May 30
Upcoming dividend of ₹50.00 per share Eligible shareholders must have bought the stock before 06 June 2025. Payment date: 16 July 2025. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 1.3%. Within top quartile of Indian dividend payers (1.3%). Higher than average of industry peers (0.2%). Announcement • May 20
IndiaMART InterMESH Limited Proposes Special Dividend for the Fy 2024-25 IndiaMART InterMESH Limited proposed a special dividend of INR 20/- per equity share for Fiscal Year 2024-25. Declared Dividend • May 01
Dividend increased to ₹50.00 Dividend of ₹50.00 is 150% higher than last year. Ex-date: 6th June 2025 Payment date: 16th July 2025 Dividend yield will be 2.2%, which is higher than the industry average of 0.1%. Sustainability & Growth Dividend is well covered by both earnings (33% earnings payout ratio) and cash flows (29% cash payout ratio). The dividend has increased by an average of 43% per year over the past 5 years. However, payments have been volatile during that time. EPS is expected to grow by 14% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 30
IndiaMART InterMESH Limited announces Annual dividend, payable on July 16, 2025 IndiaMART InterMESH Limited announced Annual dividend of INR 30.0000 per share payable on July 16, 2025, ex-date on June 06, 2025 and record date on June 06, 2025. Reported Earnings • Apr 30
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: ₹91.84 (up from ₹55.18 in FY 2024). Revenue: ₹16.6b (up 39% from FY 2024). Net income: ₹5.51b (up 65% from FY 2024). Profit margin: 33% (up from 28% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 13%. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Trade Distributors industry in Asia. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Apr 29
IndiaMART InterMESH Limited, Annual General Meeting, Jun 16, 2025 IndiaMART InterMESH Limited, Annual General Meeting, Jun 16, 2025, at 10:00 Indian Standard Time. Announcement • Apr 22
IndiaMART InterMESH Limited to Report Q4, 2025 Results on Apr 29, 2025 IndiaMART InterMESH Limited announced that they will report Q4, 2025 results on Apr 29, 2025 Announcement • Mar 07
IndiaMART InterMESH Limited Approves the Appointment of Directors IndiaMART InterMESH Limited approved the appointment of Mr. Manish Vij (DIN: 00505422) as an Independent Director and Mr. Manoj Bhargava (DIN: 08267536) as a Whole-time Director of the Company, through postal ballot. Price Target Changed • Jan 22
Price target decreased by 12% to ₹2,529 Down from ₹2,862, the current price target is an average from 20 analysts. New target price is 18% above last closing price of ₹2,146. Stock is down 12% over the past year. The company is forecast to post earnings per share of ₹81.34 for next year compared to ₹55.18 last year. Announcement • Jan 21
IndiaMART InterMESH Limited Announces Resignation of Aakash Chaudhry as Independent Director IndiaMART InterMESH Limited announced Resignation of Mr. Aakash Chaudhry as an Independent Director of the Company. Mr. Aakash Chaudhry, vide letter dated January 21, 2025, has tendered his resignation as an Independent Director of the Company with effect from January 21, 2025. The Company has received confirmation from Mr. Aakash Chaudhry, that there are no other material reasons for his resignation other than stated in the resignation letter. Announcement • Jan 13
IndiaMART InterMESH Limited to Report Q3, 2025 Results on Jan 21, 2025 IndiaMART InterMESH Limited announced that they will report Q3, 2025 results on Jan 21, 2025 Valuation Update With 7 Day Price Move • Oct 26
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₹2,438, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 9x in the Trade Distributors industry in Asia. Total loss to shareholders of 31% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹1,271 per share. Reported Earnings • Oct 20
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: ₹22.54 (up from ₹11.36 in 2Q 2024). Revenue: ₹4.13b (up 40% from 2Q 2024). Net income: ₹1.35b (up 95% from 2Q 2024). Profit margin: 33% (up from 24% in 2Q 2024). Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 28%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Trade Distributors industry in Asia. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Oct 11
IndiaMART InterMESH Limited to Report Q2, 2025 Results on Oct 19, 2024 IndiaMART InterMESH Limited announced that they will report Q2, 2025 results at 12:08 PM, Indian Standard Time on Oct 19, 2024 Price Target Changed • Aug 01
Price target increased by 8.9% to ₹3,199 Up from ₹2,938, the current price target is an average from 20 analysts. New target price is 12% above last closing price of ₹2,848. Stock is down 5.7% over the past year. The company is forecast to post earnings per share of ₹71.60 for next year compared to ₹55.18 last year. Reported Earnings • Jul 31
First quarter 2025 earnings: EPS exceeds analyst expectations First quarter 2025 results: EPS: ₹19.00 (up from ₹13.60 in 1Q 2024). Revenue: ₹3.85b (up 36% from 1Q 2024). Net income: ₹1.14b (up 37% from 1Q 2024). Profit margin: 30% (in line with 1Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 26%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Trade Distributors industry in Asia. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Jul 22
IndiaMART InterMESH Limited to Report Q1, 2025 Results on Jul 30, 2024 IndiaMART InterMESH Limited announced that they will report Q1, 2025 results on Jul 30, 2024 Upcoming Dividend • May 31
Upcoming dividend of ₹20.00 per share Eligible shareholders must have bought the stock before 07 June 2024. Payment date: 20 July 2024. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of Indian dividend payers (1.2%). Higher than average of industry peers (0.1%). Announcement • May 30
IndiaMART InterMESH Limited (NSEI:INDIAMART) agreed to acquire 10% stake in Baldor Technologies Private Limited for INR 896.9 million. IndiaMART InterMESH Limited (NSEI:INDIAMART) agreed to acquire 10% stake in Baldor Technologies Private Limited for INR 896.9 million on May 29, 2024. Baldor Technologies Private Limited reported revenue of INR 1.17 billion for FY 2023. The acquisition is expected to be completed within 30 days. Announcement • May 16
IndiaMART InterMESH Limited (NSEI:INDIAMART) acquired additional 14.88% in Finlite Technologies Private Limited for approximately INR 130 million. IndiaMART InterMESH Limited (NSEI:INDIAMART) acquired additional 14.88% in Finlite Technologies Private Limited for approximately INR 130 million on May 14, 2024. The aggregate shareholding of IndiaMART InterMESH Limited (NSEI:INDIAMART), post this investment, in Livekeeping is 65.97% on a fully diluted basis. Finlite Technologies Private Limited reported the total revenue of INR 4.47 million for the financial year ended March 31, 2024.
IndiaMART InterMESH Limited (NSEI:INDIAMART) completed the acquisition of additional 14.88% in Finlite Technologies Private Limited on May 14, 2024. Announcement • May 02
IndiaMART InterMESH Limited Announces Resignation of Vivek Agrawal as Senior Vice President, Effective May 03, 2024 IndiaMART InterMESH Limited announced that Mr. Vivek Agrawal, Senior Vice President categorized as a Senior Management Personnel (SMP) of the Company has tendered his resignation from the services of the Company with effect from the close of business hours of May 03, 2024, since he intends to take up career opportunities outside the organization. Announcement • May 01
IndiaMART InterMESH Limited, Annual General Meeting, Jun 20, 2024 IndiaMART InterMESH Limited, Annual General Meeting, Jun 20, 2024, at 10:00 Indian Standard Time. Reported Earnings • May 01
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: ₹55.18 (up from ₹46.48 in FY 2023). Revenue: ₹14.1b (up 43% from FY 2023). Net income: ₹3.34b (up 18% from FY 2023). Profit margin: 24% (down from 29% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 13%. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Trade Distributors industry in Asia. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Apr 30
IndiaMART InterMESH Limited Recommends Final Dividend for the Financial Year 2023-24 IndiaMART InterMESH Limited at its Board of Directors held on April 30, 2024, inter alia, to transact the following businesses: Recommended a final dividend of INR 20/- per equity share of face value of INR 10/- each for the Financial Year 2023-24 (i.e., 200% of the face value), subject to the approval of the shareholders in the upcoming Annual General Meeting (`AGM'). The dividend will be paid within 30 days from the date of declaration and approval of final dividend by the shareholders of the Company. Board fixed June 07, 2024 as the Record Date. Announcement • Apr 26
IndiaMART InterMESH Limited to Report Q4, 2024 Results on Apr 30, 2024 IndiaMART InterMESH Limited announced that they will report Q4, 2024 results on Apr 30, 2024 Reported Earnings • Jan 19
Third quarter 2024 earnings: EPS exceeds analyst expectations Third quarter 2024 results: EPS: ₹13.66 (down from ₹18.46 in 3Q 2023). Revenue: ₹3.05b (up 21% from 3Q 2023). Net income: ₹819.0m (down 27% from 3Q 2023). Profit margin: 27% (down from 45% in 3Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.5%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Trade Distributors industry in Asia. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • Jan 12
IndiaMART InterMESH Limited to Report Q3, 2024 Results on Jan 18, 2024 IndiaMART InterMESH Limited announced that they will report Q3, 2024 results on Jan 18, 2024 Reported Earnings • Oct 30
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: ₹11.36 (up from ₹11.23 in 2Q 2023). Revenue: ₹3.29b (up 37% from 2Q 2023). Net income: ₹694.0m (up 1.5% from 2Q 2023). Profit margin: 21% (down from 28% in 2Q 2023). Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 19%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Trade Distributors industry in Asia. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 5% per year. Announcement • Oct 21
IndiaMART InterMESH Limited to Report Q2, 2024 Results on Oct 27, 2023 IndiaMART InterMESH Limited announced that they will report Q2, 2024 results on Oct 27, 2023 Price Target Changed • Jul 25
Price target increased by 8.2% to ₹3,183 Up from ₹2,942, the current price target is an average from 15 analysts. New target price is 8.4% above last closing price of ₹2,937. Stock is up 46% over the past year. The company is forecast to post earnings per share of ₹56.16 for next year compared to ₹46.48 last year. Announcement • Jul 23
IndiaMART InterMESH Limited (NSEI:INDIAMART) announces an Equity Buyback for 1,250,000 shares, representing 2.04% for INR 5,000 million. IndiaMART InterMESH Limited (NSEI:INDIAMART) announces a share repurchase program. Under the program, the company will repurchase up to 1,250,000 shares, representing 2.04% for INR 5,000 million. The maximum price paid by the shareholders would not exceed INR 4,000 per share. The program is subject to shareholder approval through postal ballot. As of July 14, 2023, the company had 61,229,148 issued and outstanding shares. Reported Earnings • Jul 21
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: ₹13.60 (up from ₹7.65 in 1Q 2023). Revenue: ₹3.39b (up 51% from 1Q 2023). Net income: ₹831.0m (up 78% from 1Q 2023). Profit margin: 25% (up from 21% in 1Q 2023). Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 5.0%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, while revenues in the Trade Distributors industry in Asia are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 14
IndiaMART InterMESH Limited to Report Q1, 2024 Results on Jul 20, 2023 IndiaMART InterMESH Limited announced that they will report Q1, 2024 results on Jul 20, 2023 Announcement • Jun 14
IndiaMART InterMESH Limited Approves Dividend for the Financial Year Ended March 31, 2023 IndiaMART InterMESH Limited approved dividend of INR 20 per equity share for the financial year ended March 31, 2023 at the Annual General Meeting held on June 13, 2023. Announcement • May 19
IndiaMART InterMESH Limited, Annual General Meeting, Jun 13, 2023 IndiaMART InterMESH Limited, Annual General Meeting, Jun 13, 2023, at 11:00 Indian Standard Time. Agenda: To receive, consider and adopt the Audited Standalone & Consolidated Financial Statements of the Company for the financial year ended March 31, 2023, together with the Reports of the Board of Directors and Auditors thereon; to declare dividend of INR 20/- per equity share for the financial year ended March 31, 2023; to appoint a Director in place of Mr. Dhruv Prakash, who retires by rotation and being eligible, offers himself for re-appointment; and to consider any other matters of the business. Reported Earnings • May 18
Full year 2023 earnings: Revenues and EPS in line with analyst expectations Full year 2023 results: EPS: ₹92.96 (down from ₹97.82 in FY 2022). Revenue: ₹11.7b (up 55% from FY 2022). Net income: ₹2.84b (down 4.6% from FY 2022). Profit margin: 24% (down from 40% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 12% p.a. on average during the next 3 years, while revenues in the Trade Distributors industry in Asia are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • May 04
Upcoming dividend of ₹20.00 per share at 0.3% yield Eligible shareholders must have bought the stock before 11 May 2023. Payment date: 13 July 2023. Payout ratio is a comfortable 2.0% and this is well supported by cash flows. Trailing yield: 0.3%. Lower than top quartile of Indian dividend payers (1.6%). In line with average of industry peers (0.2%). Price Target Changed • May 03
Price target increased by 11% to ₹6,047 Up from ₹5,457, the current price target is an average from 13 analysts. New target price is 5.5% above last closing price of ₹5,733. Stock is up 19% over the past year. The company is forecast to post earnings per share of ₹93.34 for next year compared to ₹97.82 last year. Reported Earnings • Jan 20
Third quarter 2023 earnings: EPS exceeds analyst expectations Third quarter 2023 results: EPS: ₹36.92 (up from ₹23.03 in 3Q 2022). Revenue: ₹3.54b (up 88% from 3Q 2022). Net income: ₹1.13b (up 61% from 3Q 2022). Profit margin: 32% (down from 37% in 3Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 57%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, while revenues in the Trade Distributors industry in Asia are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 13
IndiaMART InterMESH Limited to Report Q3, 2023 Results on Jan 19, 2023 IndiaMART InterMESH Limited announced that they will report Q3, 2023 results on Jan 19, 2023 Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Non-Executive Independent Director Vivek Gour was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Nov 05
IndiaMART InterMESH Limited (NSEI:INDIAMART) entered into an agreement to acquire 7.96% stake in Mobisy Technologies Private Limited for Approximately INR 150 million. IndiaMART InterMESH Limited (NSEI:INDIAMART) entered into an agreement to acquire 7.96% stake in Mobisy Technologies Private Limited for Approximately INR 150 million on November 3, 2022. IndiaMART InterMESH Limited will do so by by purchasing 17,963 Equity Shares and 1,05,607 Compulsorily Convertible Cumulative Preference Shares from existing shareholders of Mobisy Technologies Private Limited at a price of INR. 1,223.36/- per share. The shareholding of IndiaMART InterMESH Limited, post this acquisition, shall stand at approximately 25.08%. Mobisy Technologies Private Limited reported a turnover of INR 447.8 million on March 31, 2022. Reported Earnings • Oct 21
Second quarter 2023 earnings: EPS exceeds analyst expectations Second quarter 2023 results: EPS: ₹22.45 (down from ₹27.06 in 2Q 2022). Revenue: ₹2.87b (up 57% from 2Q 2022). Net income: ₹684.0m (down 17% from 2Q 2022). Profit margin: 24% (down from 45% in 2Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.2%. Revenue is forecast to grow 22% p.a. on average during the next 3 years, while revenues in the Trade Distributors industry in Asia are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 14
IndiaMART InterMESH Limited to Report Q2, 2023 Results on Oct 20, 2022 IndiaMART InterMESH Limited announced that they will report Q2, 2023 results on Oct 20, 2022 Announcement • Oct 09
IndiaMART InterMESH Limited Announces Resignation of Elizabeth Lucy Chapman as Independent Director IndiaMART InterMESH Limited announced that Ms. Elizabeth Lucy Chapman has tendered her resignation as an Independent Director of the Company with effect from October 07, 2022. Chairperson/Memberships of Board Committees: Audit Committee: Member; Nomination & Remuneration Committee: Chairperson; Corporate Social Responsibility Committee: Member; and Risk Management Committee: Member. Announcement • Sep 21
IndiaMART InterMESH Limited Declares Dividend for the Financial Year Ended March 31, 2022 IndiaMART InterMESH Limited at its 23rd annual general meeting held on September 20, 2022, declared dividend of INR 2 per equity share for the financial year ended March 31, 2022. Announcement • Aug 26
IndiaMART InterMESH Limited Proposes Dividend for the Financial Year 2021-22 IndiaMART InterMESH Limited at its AGM to be held on September 20, 2022 proposed final dividend of INR 2 per equity share of face value of INR 10/- each for the Financial Year 2021-22. The company Fixed September 02, 2022, as the Record Date for the purpose of determining the names of Members eligible for final dividend. Upcoming Dividend • Aug 25
Upcoming dividend of ₹2.00 per share Eligible shareholders must have bought the stock before 01 September 2022. Payment date: 20 October 2022. Payout ratio is a comfortable 2.4% and this is well supported by cash flows. The company last paid an ordinary dividend in January 2020. The average dividend yield among industry peers is 0.1%. Price Target Changed • Jul 28
Price target decreased to ₹4,941 Down from ₹5,323, the current price target is an average from 11 analysts. New target price is 19% above last closing price of ₹4,157. Stock is down 42% over the past year. The company is forecast to post earnings per share of ₹84.62 for next year compared to ₹97.82 last year. Reported Earnings • Jul 22
First quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2023 results: EPS: ₹15.29 (down from ₹28.99 in 1Q 2022). Revenue: ₹2.25b (up 24% from 1Q 2022). Net income: ₹467.0m (down 47% from 1Q 2022). Profit margin: 21% (down from 48% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) missed analyst estimates by 20%. Over the next year, revenue is forecast to grow 29%, compared to a 4.7% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 15
IndiaMART InterMESH Limited to Report Q1, 2023 Results on Jul 21, 2022 IndiaMART InterMESH Limited announced that they will report Q1, 2023 results on Jul 21, 2022 Price Target Changed • Jul 06
Price target decreased to ₹5,522 Down from ₹5,953, the current price target is an average from 10 analysts. New target price is 47% above last closing price of ₹3,749. Stock is down 48% over the past year. The company is forecast to post earnings per share of ₹101 for next year compared to ₹97.82 last year. Reported Earnings • May 02
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: ₹97.82 (up from ₹96.15 in FY 2021). Revenue: ₹7.54b (up 13% from FY 2021). Net income: ₹2.98b (up 6.4% from FY 2021). Profit margin: 40% (down from 42% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.8%. Over the next year, revenue is forecast to grow 22%, compared to a 7.4% growth forecast for the industry in India. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. Non-Executive Independent Director Vivek Gour was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 23
IndiaMART InterMESH Limited to Report Q4, 2022 Results on Apr 28, 2022 IndiaMART InterMESH Limited announced that they will report Q4, 2022 results on Apr 28, 2022 Announcement • Apr 08
IndiaMART InterMESH Limited (NSEI:INDIAMART) completed the acquisition of Busy Infotech Pvt. Ltd. IndiaMART InterMESH Limited (NSEI:INDIAMART) entered into an agreement to acquire Busy Infotech Pvt. Ltd for INR 5 billion on January 24, 2022. Under the terms, IndiaMART InterMESH Limited will acquire 45,000 shares of Busy Infotech Pvt. Ltd at a premium of INR 0.111101 million. Post this acquisition Busy Infotech will become the wholly owned subsidiary of the Indiamart.The total turnover of BUSY for the financial year ended March 31, 2021 was INR 424 million. The acquisition is expected to be closed on March 31, 2022. As of March 29, 2022 the transaction is expected to close on April 30, 2022.
IndiaMART InterMESH Limited (NSEI:INDIAMART) completed the acquisition of Busy Infotech Pvt. Ltd. on April 6, 2022. Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment improved over the past week After last week's 18% share price gain to ₹5,074, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 9x in the Trade Distributors industry in Asia. Total loss to shareholders of 36% over the past year. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₹4,032, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 21x in the Interactive Media and Services industry in Asia. Total loss to shareholders of 50% over the past year. Announcement • Feb 25
IndiaMART InterMESH Limited (NSEI:INDIAMART) entered into an agreement to acquire a 26% stake in IB Monotaro Private Limited from MonotaRO Co., Ltd. (TSE:3064) and Emtex Engineering PVT. Ltd. for INR 1 billion. IndiaMART InterMESH Limited (NSEI:INDIAMART) entered into an agreement to acquire a 26% stake in IB Monotaro Private Limited from MonotaRO Co., Ltd. (TSE:3064) and Emtex Engineering PVT. Ltd. for INR 1 billion on February 23, 2022. The Nature of consideration is cash. IndiaMart will acquire 0.81125 million Equity Shares at a price of INR 1284.15 per share. As a result of the transaction, Monotaro will hold a 51.6% while Emtex Engineering will hold a 22.4% stake in IB Monotaro. The total turnover of IMPL for the financial year ended March 31, 2021 was INR 72 million. The Indicative time period is 30 days for completion of the acquisition. Price Target Changed • Feb 22
Price target decreased to ₹6,123 Down from ₹6,624, the current price target is an average from 9 analysts. New target price is 28% above last closing price of ₹4,766. Stock is down 48% over the past year. The company is forecast to post earnings per share of ₹104 for next year compared to ₹96.15 last year. Price Target Changed • Jan 27
Price target decreased to ₹6,981 Down from ₹7,592, the current price target is an average from 9 analysts. New target price is 53% above last closing price of ₹4,560. Stock is down 43% over the past year. The company is forecast to post earnings per share of ₹103 for next year compared to ₹96.15 last year. Announcement • Jan 26
IndiaMART InterMESH Limited (NSEI:INDIAMART) entered into an agreement to acquire Busy Infotech Pvt. Ltd for INR 5 billion. IndiaMART InterMESH Limited (NSEI:INDIAMART) entered into an agreement to acquire Busy Infotech Pvt. Ltd for INR 5 billion on January 24, 2022. Under the terms, IndiaMART InterMESH Limited will acquire 45,000 shares of Busy Infotech Pvt. Ltd at a premium of INR 0.111101 million. Post this acquisition Busy Infotech will become the wholly owned subsidiary of the Indiamart.The total turnover of BUSY for the financial year ended March 31, 2021 was INR 424 million. The acquisition is expected to be closed on March 31, 2022. Reported Earnings • Jan 25
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: EPS: ₹23.03 (down from ₹27.61 in 3Q 2021). Revenue: ₹2.10b (up 21% from 3Q 2021). Net income: ₹702.0m (down 13% from 3Q 2021). Profit margin: 33% (down from 46% in 3Q 2021). Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) also missed analyst estimates by 15%. Over the next year, revenue is forecast to grow 20%, compared to a 9.0% growth forecast for the industry in India. Announcement • Dec 22
IndiaMart InterMESH Says Unit to Buy 26.01% Stake in Easyecom IndiaMART InterMESH Limited (NSEI:INDIAMART) unit intended to invest up to INR 133.5 million to buy 26.01% stake in Easyecom. Announcement • Nov 30
IndiaMART InterMESH Limited (NSEI:INDIAMART) completed the acquisition of 7.7% stake in Mynd Solutions Pvt. Ltd. from India Opportunity Fund, a fund managed by SIDBI Venture Capital Limited. IndiaMART InterMESH Limited (NSEI:INDIAMART) agreed to acquire a 7.7% stake in Mynd Solutions Pvt. Ltd. from India Opportunity Fund, a fund managed by SIDBI Venture Capital Limited, for approximately INR 320 million on October 29, 2021. The company shall invest a total of INR 324,340,096/- in cash to purchase 3,336,489 Equity Shares at a price of INR 97.21 per equity share. The total turnover for the entity for the year ended March 31, 2021 was INR 86.2 million. The indicative time period for completion of the acquisition is 10 days. As of November 15, 2021, due to certain unforeseen delay in processing the transaction on account of involvement of multiple parties, the aforesaid acquisition is expected to be completed by December 15, 2021.
IndiaMART InterMESH Limited (NSEI:INDIAMART) completed the acquisition of 7.7% stake in Mynd Solutions Pvt. Ltd. from India Opportunity Fund, a fund managed by SIDBI Venture Capital Limited on November 29, 2021 Valuation Update With 7 Day Price Move • Oct 28
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₹7,132, the stock trades at a forward P/E ratio of 60x. Average forward P/E is 10x in the Trade Distributors industry in Asia. Total returns to shareholders of 44% over the past year. Simply Wall St's valuation model estimates the intrinsic value at ₹3,696 per share. Reported Earnings • Oct 22
Second quarter 2022 earnings released: EPS ₹27.06 (vs ₹24.18 in 2Q 2021) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2022 results: Revenue: ₹2.14b (up 31% from 2Q 2021). Net income: ₹822.0m (up 18% from 2Q 2021). Profit margin: 38% (down from 43% in 2Q 2021). Valuation Update With 7 Day Price Move • Sep 02
Investor sentiment improved over the past week After last week's 15% share price gain to ₹8,149, the stock trades at a forward P/E ratio of 64x. Average forward P/E is 10x in the Trade Distributors industry in Asia. Total returns to shareholders of 92% over the past year. Simply Wall St's valuation model estimates the intrinsic value at ₹3,647 per share. Recent Insider Transactions • Aug 28
Insider recently sold ₹71m worth of stock On the 27th of August, Vikas Aggarwal sold around 10k shares on-market at roughly ₹7,077 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹873m more than they bought in the last 12 months. Upcoming Dividend • Aug 16
Upcoming dividend of ₹15.00 per share Eligible shareholders must have bought the stock before 23 August 2021. Payment date: 30 September 2021. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.5%). In line with average of industry peers (0.1%). Recent Insider Transactions • Jul 30
Senior Vice President recently sold ₹7.3m worth of stock On the 27th of July, Amit Jain sold around 1k shares on-market at roughly ₹7,251 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹23m. Insiders have been net sellers, collectively disposing of ₹1.1b more than they bought in the last 12 months. Reported Earnings • Jul 24
First quarter 2022 earnings released: EPS ₹28.99 (vs ₹25.63 in 1Q 2021) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were flat. First quarter 2022 results: Revenue: ₹1.82b (up 19% from 1Q 2021). Net income: ₹879.0m (up 19% from 1Q 2021). Profit margin: 48% (in line with 1Q 2021). Recent Insider Transactions • Jun 19
Chief Operating Officer recently sold ₹22m worth of stock On the 15th of June, Dinesh Gulati sold around 3k shares on-market at roughly ₹7,349 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹23m. Dinesh has been a seller over the last 12 months, reducing personal holdings by ₹268m. Recent Insider Transactions • Jun 09
Insider recently sold ₹14m worth of stock On the 4th of June, Vikas Aggarwal sold around 2k shares on-market at roughly ₹7,000 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹23m. Insiders have been net sellers, collectively disposing of ₹1.2b more than they bought in the last 12 months. Price Target Changed • May 23
Price target increased to ₹7,641 Up from ₹6,946, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of ₹7,672. Stock is up 202% over the past year. 
