{"id":331359,"date":"2026-10-29T10:12:37","date_gmt":"2026-10-29T04:42:37","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=331359"},"modified":"2026-10-29T10:12:37","modified_gmt":"2026-10-29T04:42:37","slug":"indiamart-share-price-q2-profit-rises-while-buyers-and-enquiries-fall-what-management-expects-next","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/indiamart-share-price-q2-profit-rises-while-buyers-and-enquiries-fall-what-management-expects-next\/","title":{"rendered":"IndiaMART Share Price: Q2 Profit Rises While Buyers and Enquiries Fall, and What Management Expects Next"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>The IndiaMART share price was Rs 1,571.10 on the NSE, down 0.1%, around 9:46 AM IST on Thursday, 29 Oct 2026, after a Q2 in which EBITDA rose 23% to Rs 159 crore at a 37% margin while active buyers fell 7% to 40 million and unique enquiries fell 14% to 27 million.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">The IndiaMART share price was Rs 1,571.10, down 0.1%, around 9:46 AM IST on 29 Oct 2026, with a price to earnings of 18.89 and a dividend yield of 3.81%. In Q2, revenue rose 10% to Rs 429 crore, EBITDA rose 23% to Rs 159 crore (a 37% margin) and net profit was Rs 91 crore, but paying suppliers fell 2% to 217,000, active buyers fell 7% to 40 million and unique enquiries fell 14% to 27 million. Management expects profitable growth despite macro headwinds but has given no formal near-term guidance. This is educational and not a recommendation.<\/p>\n<\/p><\/div>\n<p>Profit that grows faster than revenue is good news, but falling buyers and enquiries are the numbers that drive future revenue for a marketplace. This article looks at the IndiaMART share price against the Q2 results, the user metrics that matter, management&#8217;s comments, the valuation and dividend, and the chart, using prices at 9:46 AM IST.<\/p>\n<p>Two flags. Revenue appears as Rs 429 crore in the results coverage and Rs 421 crore in the data provider, and net profit differs between the consolidated figure (Rs 91 crore) and the standalone figure (Rs 106 crore). I state which I use. It is educational and not advice.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=indiamart-share-price-q2-profit-rises-while-buyers-and-enquiries-fall-what-management-expects-next\">Click Here &#8211; Get Free Investment Predictions<\/a><\/strong><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/indiamart-share-price-q2-profit-rises-while-buyers-and-enquiries-fall-what-management-expects-next\/#IndiaMART_Share_Price_Today_Snapshot\" title=\"IndiaMART Share Price Today: Snapshot\">IndiaMART Share Price Today: Snapshot<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/indiamart-share-price-q2-profit-rises-while-buyers-and-enquiries-fall-what-management-expects-next\/#Q2_Results_Behind_the_IndiaMART_Share_Price\" title=\"Q2 Results Behind the IndiaMART Share Price\">Q2 Results Behind the IndiaMART Share Price<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/indiamart-share-price-q2-profit-rises-while-buyers-and-enquiries-fall-what-management-expects-next\/#The_User_Metrics_That_Matter_for_the_IndiaMART_Share_Price\" title=\"The User Metrics That Matter for the IndiaMART Share Price\">The User Metrics That Matter for the IndiaMART Share Price<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/indiamart-share-price-q2-profit-rises-while-buyers-and-enquiries-fall-what-management-expects-next\/#What_Management_Expects_Outlook_for_the_IndiaMART_Share_Price\" title=\"What Management Expects: Outlook for the IndiaMART Share Price\">What Management Expects: Outlook for the IndiaMART Share Price<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/indiamart-share-price-q2-profit-rises-while-buyers-and-enquiries-fall-what-management-expects-next\/#Valuation_and_Dividend_Reading_the_IndiaMART_Share_Price\" title=\"Valuation and Dividend: Reading the IndiaMART Share Price\">Valuation and Dividend: Reading the IndiaMART Share Price<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/indiamart-share-price-q2-profit-rises-while-buyers-and-enquiries-fall-what-management-expects-next\/#What_a_Margin_Reset_Would_Mean_for_the_IndiaMART_Share_Price\" title=\"What a Margin Reset Would Mean for the IndiaMART Share Price\">What a Margin Reset Would Mean for the IndiaMART Share Price<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/indiamart-share-price-q2-profit-rises-while-buyers-and-enquiries-fall-what-management-expects-next\/#Risks_Around_the_IndiaMART_Share_Price\" title=\"Risks Around the IndiaMART Share Price\">Risks Around the IndiaMART Share Price<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/indiamart-share-price-q2-profit-rises-while-buyers-and-enquiries-fall-what-management-expects-next\/#Conclusion_Strong_Profit_Weaker_Funnel\" title=\"Conclusion: Strong Profit, Weaker Funnel\">Conclusion: Strong Profit, Weaker Funnel<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/indiamart-share-price-q2-profit-rises-while-buyers-and-enquiries-fall-what-management-expects-next\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/indiamart-share-price-q2-profit-rises-while-buyers-and-enquiries-fall-what-management-expects-next\/#What_is_the_IndiaMART_share_price_today\" title=\"What is the IndiaMART share price today?\">What is the IndiaMART share price today?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/indiamart-share-price-q2-profit-rises-while-buyers-and-enquiries-fall-what-management-expects-next\/#How_did_IndiaMART_perform_in_Q2\" title=\"How did IndiaMART perform in Q2?\">How did IndiaMART perform in Q2?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/indiamart-share-price-q2-profit-rises-while-buyers-and-enquiries-fall-what-management-expects-next\/#Why_are_buyers_and_enquiries_falling_at_IndiaMART\" title=\"Why are buyers and enquiries falling at IndiaMART?\">Why are buyers and enquiries falling at IndiaMART?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/indiamart-share-price-q2-profit-rises-while-buyers-and-enquiries-fall-what-management-expects-next\/#What_does_IndiaMART_management_expect\" title=\"What does IndiaMART management expect?\">What does IndiaMART management expect?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/indiamart-share-price-q2-profit-rises-while-buyers-and-enquiries-fall-what-management-expects-next\/#Is_IndiaMART_a_dividend_stock\" title=\"Is IndiaMART a dividend stock?\">Is IndiaMART a dividend stock?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/indiamart-share-price-q2-profit-rises-while-buyers-and-enquiries-fall-what-management-expects-next\/#What_does_the_chart_show_for_the_IndiaMART_share_price_now\" title=\"What does the chart show for the IndiaMART share price now?\">What does the chart show for the IndiaMART share price now?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/indiamart-share-price-q2-profit-rises-while-buyers-and-enquiries-fall-what-management-expects-next\/#What_are_the_main_risks_for_the_IndiaMART_share_price\" title=\"What are the main risks for the IndiaMART share price?\">What are the main risks for the IndiaMART share price?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/indiamart-share-price-q2-profit-rises-while-buyers-and-enquiries-fall-what-management-expects-next\/#Is_this_article_investment_advice\" title=\"Is this article investment advice?\">Is this article investment advice?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"IndiaMART_Share_Price_Today_Snapshot\"><\/span><strong>IndiaMART Share Price Today: Snapshot<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">IndiaMART share price: item<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Value (NSE, 9:46 AM IST)<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Last price<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,571.10, down 0.1%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Price to earnings<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">18.89<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Dividend yield<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">3.81% (about Rs 60 per share, my calculation)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">RSI<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">43.49, neutral to weak<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">20-day EMA<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,596.50; price is about 1.6% below it (my calculation)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Supertrend<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,497.98, bullish; price is about 4.9% above it (my calculation)<\/td>\n<\/tr>\n<\/table>\n<p>The IndiaMART share price is slightly below its 20-day average, with a weak RSI of 43.49, but above the Supertrend line near Rs 1,498. The trend is therefore neutral to weak in the short term. The dividend yield of 3.81% is unusually high for a technology marketplace and supports the stock when growth slows.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/screeners\">Screen internet and platform stocks on Univest<\/a><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Q2_Results_Behind_the_IndiaMART_Share_Price\"><\/span><strong>Q2 Results Behind the IndiaMART Share Price<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">IndiaMART share price: Q2 measure<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Figure<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Comment<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Revenue<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 429 crore, up 10%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">The data provider shows Rs 421 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Collections<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 443 crore, up 9%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Cash billed in the quarter<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">EBITDA<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 159 crore, up 23%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Margin 37%, my calculation 37.1%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Net profit (consolidated)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 91 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Net margin about 21% (my calculation); standalone Rs 106 crore, up 27%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Deferred revenue<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 2,029 crore, up 16%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Revenue already billed but not yet recognised<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Cash and treasury<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 3,234 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 361 crore returned to shareholders<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Busy subsidiary revenue<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 37 crore, up 27%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Accounting software business<\/td>\n<\/tr>\n<\/table>\n<p>EBITDA grew 23% on revenue growth of 10%, so the margin rose to 37%, which is above the company&#8217;s long-term target of 33%. Management itself describes 37% as elevated, so investors should not assume it will hold. Deferred revenue growing 16% faster than revenue at 10% is a good sign, as it suggests future revenue is being built, but only if customers renew.<\/p>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to get alerts on the IndiaMART share price.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_User_Metrics_That_Matter_for_the_IndiaMART_Share_Price\"><\/span><strong>The User Metrics That Matter for the IndiaMART Share Price<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">IndiaMART share price: marketplace metric<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Latest<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Change<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Paying suppliers<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">217,000<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Down 2%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Active buyers<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">40 million<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Down 7%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Unique enquiries<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">27 million<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Down 14%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Organic traffic<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Down 10% to 15% from its peak<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Weaker<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Silver-tier retention<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 10% below historical levels<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Weaker<\/td>\n<\/tr>\n<\/table>\n<p>These are the numbers behind the profit. A marketplace earns by connecting buyers with paying suppliers, and fewer buyers and enquiries make the subscription less valuable. A 14% fall in unique enquiries while revenue grows 10% means each remaining customer is paying more, which is a strategy that works for a time but has limits. The IndiaMART share price will depend on whether these metrics stabilise.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_Management_Expects_Outlook_for_the_IndiaMART_Share_Price\"><\/span><strong>What Management Expects: Outlook for the IndiaMART Share Price<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Topic<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Management comment<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Near-term guidance<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">No formal guidance<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Earlier FY27 view<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Growth of 10% to 12% with margins around 33% (as reported by Angel One)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Long-term EBITDA margin<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Target 33%; 37% is elevated<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Technology<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">More than 20 AI initiatives are live<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Overall tone<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Profitable growth expected despite macro headwinds<\/td>\n<\/tr>\n<\/table>\n<p>The absence of formal guidance means the IndiaMART share price cannot lean on a number from management. The earlier view of 10% to 12% growth and margins near 33% is a useful anchor, since the latest quarter is at the top of the growth range and above the margin. If margins fall back to 33%, profit growth would slow even if revenue holds.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Valuation_and_Dividend_Reading_the_IndiaMART_Share_Price\"><\/span><strong>Valuation and Dividend: Reading the IndiaMART Share Price<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">IndiaMART share price: valuation item<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Figure<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Price to earnings<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">18.89<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Dividend yield<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">3.81%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Cash and treasury<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 3,234 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Return of cash to shareholders in the quarter<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 361 crore<\/td>\n<\/tr>\n<\/table>\n<p>A price to earnings of 18.89 is modest for a business with a 37% EBITDA margin, and the market is clearly pricing in the fall in buyers and enquiries. The large cash pile and the high dividend yield give support. The question for the IndiaMART share price is whether the user metrics recover, in which case the multiple could be too low, or keep falling, in which case it could be justified.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_a_Margin_Reset_Would_Mean_for_the_IndiaMART_Share_Price\"><\/span><strong>What a Margin Reset Would Mean for the IndiaMART Share Price<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">IndiaMART share price: margin scenario<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">EBITDA on Q2 revenue of Rs 429 crore (my calculation)<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Versus Rs 159 crore<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">37% margin (reported)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About Rs 159 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Base<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">35% margin<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About Rs 150 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 5.6% lower<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">33% margin (long-term target)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About Rs 142 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 11% lower<\/td>\n<\/tr>\n<\/table>\n<p>The table holds revenue constant to show the effect of margin alone. If the margin returned to the 33% target, EBITDA would be about 11% lower at the same revenue, which would offset a good part of the quarter&#8217;s 23% growth. This is why the IndiaMART share price is sensitive to what management says about margins and not only to revenue.<\/p>\n<p>A subscription marketplace earns money from suppliers who pay for listings and tools. Deferred revenue of Rs 2,029 crore is cash already received for services that will be delivered over the coming months, and it grew 16%. That gives the business some visibility, but it only continues if suppliers renew, which is why the fall in paying suppliers deserves attention.<\/p>\n<p>The company also holds cash and treasury of Rs 3,234 crore and returned Rs 361 crore to shareholders in the quarter. That supports the dividend, though the amount of cash returned depends on the board&#8217;s decisions and not on any commitment I could find. For the IndiaMART share price, the combination of cash, yield and a modest multiple is the cushion, and the falling funnel is the risk.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Risks_Around_the_IndiaMART_Share_Price\"><\/span><strong>Risks Around the IndiaMART Share Price<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li><strong>Falling buyers and enquiries.<\/strong> A 7% fall in active buyers and 14% in enquiries can reduce supplier renewals and slow the growth story.<\/li>\n<li><strong>Margin normalisation.<\/strong> Management calls 37% elevated, and a fall to 33% would cut profit growth.<\/li>\n<li><strong>Supplier retention.<\/strong> Paying suppliers fell 2% and silver-tier retention is about 10% below historical levels.<\/li>\n<li><strong>Organic traffic.<\/strong> A fall of 10% to 15% from the peak raises customer acquisition costs.<\/li>\n<li><strong>No guidance.<\/strong> Without formal guidance, investors rely on commentary.<\/li>\n<li><strong>Macro headwinds.<\/strong> Weak small business demand can affect renewals.<\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion_Strong_Profit_Weaker_Funnel\"><\/span><strong>Conclusion: Strong Profit, Weaker Funnel<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The IndiaMART share price reflects a company that earns well, pays a high dividend and holds large cash, but is losing buyers and enquiries. Watch the user metrics in the next quarter, track Rs 1,498 and Rs 1,597 on the chart, and decide according to your own risk profile.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_IndiaMART_share_price_today\"><\/span><strong>What is the IndiaMART share price today?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The IndiaMART share price was Rs 1,571.10 on the NSE, down 0.1%, around 9:46 AM IST on 29 Oct 2026. The price to earnings is 18.89 and the dividend yield is 3.81%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_did_IndiaMART_perform_in_Q2\"><\/span><strong>How did IndiaMART perform in Q2?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue rose 10% to Rs 429 crore, EBITDA rose 23% to Rs 159 crore (a 37% margin) and consolidated net profit was Rs 91 crore. Collections rose 9% to Rs 443 crore.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_are_buyers_and_enquiries_falling_at_IndiaMART\"><\/span><strong>Why are buyers and enquiries falling at IndiaMART?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Active buyers fell 7% to 40 million, unique enquiries fell 14% to 27 million and organic traffic is down 10% to 15% from its peak. I did not find a single stated cause, so check the company commentary.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_does_IndiaMART_management_expect\"><\/span><strong>What does IndiaMART management expect?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Management expects profitable growth despite macro headwinds but has given no formal near-term guidance. Its long-term EBITDA margin target is 33%, and it calls 37% elevated.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_IndiaMART_a_dividend_stock\"><\/span><strong>Is IndiaMART a dividend stock?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The dividend yield is 3.81%, about Rs 60 per share on the current price (my calculation). The company also holds Rs 3,234 crore of cash and treasury and returned Rs 361 crore to shareholders in the quarter.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_does_the_chart_show_for_the_IndiaMART_share_price_now\"><\/span><strong>What does the chart show for the IndiaMART share price now?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The RSI is 43.49, the 20-day average is Rs 1,596.50 and the Supertrend is Rs 1,497.98, bullish. The price is below the average and above the Supertrend.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_main_risks_for_the_IndiaMART_share_price\"><\/span><strong>What are the main risks for the IndiaMART share price?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The main risks are falling buyers and enquiries, a fall in margin from 37% to the 33% target, weaker supplier retention and the lack of formal guidance.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_this_article_investment_advice\"><\/span><strong>Is this article investment advice?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> No. It is educational and not a recommendation to buy or sell. Please check the figures against company filings and your own risk profile before you act on anything you read here.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What is the IndiaMART share price today?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The IndiaMART share price was Rs 1,571.10 on the NSE, down 0.1%, around 9:46 AM IST on 29 Oct 2026. The price to earnings is 18.89 and the dividend yield is 3.81%.\"}},{\"@type\":\"Question\",\"name\":\"How did IndiaMART perform in Q2?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Revenue rose 10% to Rs 429 crore, EBITDA rose 23% to Rs 159 crore (a 37% margin) and consolidated net profit was Rs 91 crore. 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Please check the figures against company filings and your own risk profile before you act on anything you read here.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>IndiaMART share price is Rs 1,571. Q2 EBITDA rose 23% at a 37% margin, but active buyers fell 7% and enquiries 14%. See management&#8217;s outlook, valuation, 3.8% yield and risks.<\/p>\n","protected":false},"author":34,"featured_media":331358,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[842],"tags":[17588,17589,17587,17590,17591,17586,17585,17594,17593,17592],"class_list":["post-331359","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-indiamart-buyers-enquiries","tag-indiamart-dividend-yield","tag-indiamart-ebitda-margin","tag-indiamart-management-outlook","tag-indiamart-paying-suppliers","tag-indiamart-q2-results","tag-indiamart-share-price","tag-indiamart-stock-analysis","tag-indiamart-supertrend","tag-indiamart-valuation"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["331358"],"rank_math_title":["IndiaMART Share Price: Q2 Profit Up, Buyers and Enquiries Down"],"rank_math_description":["IndiaMART share price is Rs 1,571. Q2 EBITDA rose 23% at a 37% margin, but active buyers fell 7% and enquiries 14%. See the outlook, valuation, 3.8% yield and risks."],"rank_math_focus_keyword":["IndiaMART share price"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/10\/indiamart-share-price-q2-profit-rises-while-buyers-and-enquiries-fall-and-what.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/331359","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=331359"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/331359\/revisions"}],"predecessor-version":[{"id":331360,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/331359\/revisions\/331360"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/331358"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=331359"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=331359"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=331359"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}