IndiaMART InterMESH Limited stands as India's largest online business-to-business marketplace, commanding nearly 60% market share of the online B2B classifieds space. The company operates an online business-to-business marketplace for business products and services in India and internationally, with its e-marketplace acting as an interactive hub for domestic and international buyers and suppliers.
Incorporated in New Delhi as 'IndiaMART InterMESH Limited' on September 13, 1999, the company has established itself as India's largest online B2B marketplace for business products and services. Its platform serves small and medium enterprises, large enterprises, and individuals, with the company being based in Noida, India.
IndiaMART InterMESH has a market capitalization of ₹15,353 Crore as of July 2, 2025. The company has demonstrated strong financial performance, particularly in its most recent reporting period. The company's net profit jumped 81.33% to ₹180.60 Crore in Q4 FY2024-2025 compared to ₹99.60 Crore in the previous year's corresponding quarter. Sales rose 12.84% to ₹355.10 Crore in Q4 FY25 compared to ₹314.70 Crore in Q4 FY24.
For the full year FY25, net profit rose 64.88% to ₹550.70 Crore compared to ₹334.00 Crore in FY24, while sales increased 16.01% to ₹1,388.40 Crore compared to ₹1,196.80 Crore in FY24. The company's profitability metrics remain strong, with profit before tax in Q4 FY25 standing at ₹218.10 Crore, up by 56.8% from ₹139.10 Crore in Q4 FY24.
The company has consistently shown revenue growth across quarters:
* Q4 FY25: Revenue from operations of ₹355 Crore, up 13% YoY from ₹315 Crore.
* Q3 FY25: Revenue from operations of ₹354 Crore, up 16% YoY from ₹305 Crore.
* Q2 FY25: Revenue from operations of ₹348 Crore, up 18% YoY from ₹295 Crore.
EBITDA stood at ₹131 Crore in Q4 FY25, up 48% YoY, with EBITDA margin for the quarter at 37%. Deferred revenue as of March 31, 2025, increased to ₹1,678 Crore, representing a YoY growth of 17%.
The company has a portfolio of approximately 7.9 million supplier storefronts, 214,000 paying subscription suppliers, 108 million live product listings, 24 million unique business enquiries, and a total traffic of 252 million repeated users. IndiaMART operates through two segments: Web and related Services and Accounting Software Services, with the web segment providing business-to-business e-marketplace services.
In Q4 FY25, IndiaMART registered 27 million unique business enquiries, representing a 10% YoY growth, while supplier storefronts grew to 8.4 million (6% YoY increase) and paying suppliers reached 217K with a net addition of 2.1K.
IndiaMART announced a total dividend of ₹50 per share for FY 2024-25, comprising a final dividend of ₹30 and a special dividend of ₹20. The company's 26th AGM held on June 16, 2025, approved FY25 financials and the dividend distribution.
During Q1 FY25, IndiaMART entered into an agreement to acquire a 10% stake in Baldor Technologies Private Limited (IDfy), an integrated identity platform offering products and solutions for KYC, background verifications, risk mitigation, digital onboarding, and digital privacy.
The P/B ratio of IndiaMART InterMESH is 7.15 times as of July 2, 2025, representing a 4% premium to its peers' median of 6.87 times, while the P/E ratio is 27.88 times, a 32% discount to its peers' median of 40.96 times. The stock showed positive momentum, gaining 8.95% year-to-date.
IndiaMART InterMESH continues to strengthen its position as India's leading B2B marketplace, demonstrating consistent growth in revenue, profitability, and operational metrics while maintaining a strong balance sheet with significant cash reserves for future growth initiatives.
