Indiamart Intermesh Limited (INDIAMART) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Indiamart Intermesh Limited ₹443, price ₹1,620, upside -72.6%, quality 77 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Watch Indiamart Intermesh Limited for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.
How to read this chart
60‑month range ₹1,615 – ₹4,482 · fair‑value band ₹255.98 – ₹577.28 · the ₹1,620 price screens above the ₹443.42 fair value. Dashed = 300-day average. As of Oct 3, 2026.
Follow Indiamart Intermesh in your weekly email
Every Wednesday you see whether Indiamart Intermesh is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
IndiaMART InterMESH Limited operates an online business-to-business marketplace for business products and services in India and internationally. The company's e-marketplace acts as an interactive hub for domestic and international buyers and suppliers. Its platform serves small and medium enterprises, large enterprises, and individuals.
Show more
IndiaMART InterMESH Limited operates an online business-to-business marketplace for business products and services in India and internationally. The company's e-marketplace acts as an interactive hub for domestic and international buyers and suppliers. Its platform serves small and medium enterprises, large enterprises, and individuals. The company also provides the Live Keeping Tally mobile app, which allows users to access their Tally data in real-time from anywhere. IndiaMART InterMESH Limited was incorporated in 1999 and is based in Noida, India.
Stock analysis
Indiamart Intermesh Limited (INDIAMART) currently trades at ₹1,620, while our model-based Fair Value estimate is ₹443.42, 72.6% below the price, so the stock looks overvalued today.
Show more
Valuation
Bull case: the DCF Models group reads highest at a median of ₹243.03 per share, and 0 of the 26 models we run sit above the ₹1,620 price.
Bear case: the Economic Profit group reads lowest at ₹62.55, and 26 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: ₹255.98 (bear) to ₹577.28 (bull), the price of ₹1,620 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 77/100 (high quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Indiamart Intermesh Limited reported revenue of ₹15.7B in FY2026 versus ₹7.5B in FY2022, a compound +20.1%/yr. Reported net income was ₹4.7B in FY2026, compounding +12.4%/yr from FY2022.
Key figures
Market cap ₹976B (≈ $10.1B) · P/E ratio 19.8 · P/S ratio 5.99 · EPS (TTM) ₹81.83 · Dividend yield 3.7% · Net margin 30.3% · Return on equity 23.2% · Return on assets (EBIT) 9.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 34% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 10% fair-value upside, at −73%, INDIAMART screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (₹26.74 to ₹374.30). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear ₹255.98Fair Value ₹443.42Bull ₹577.28
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹11.12 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+13.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+16.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+18.6%
Start year 2021 (pandemic). Over 10 years: +20.0% a year
Revenue growth 12 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+22.6%
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
’26
What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+14.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+10.7%
Dividend (yield on the price)3.7%
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.47% → 32%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−3.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+10.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about −7.8% a year for the price and +5.9% for the forecasts.
Compare Indiamart Intermesh Limited with another stock
Price, fair value, quality and upside side by side.
Free, no sign-up
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Internet Content & Information · 133 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score77 · Top 25%
Fair Value upside+20.4% · Above median
Profitability
Return on equity (TTM)20.7% · Top 25%
Return on assets7.2% · Top 25%
Net margin (TTM)30.3% · Top 25%
Operating margin (TTM)31.1% · Top 25%
Growth and dividend
Revenue growth13.9% · Above median
Dividend yield (TTM)3.7% · Above median
Valuation Multiplesvs Internet Content & Information median · lower = cheaper
P/E (TTM)19.8× · Pricier than median
P/B4.77× · Priciest 25%
P/S (TTM)7.30× · Priciest 25%
P/FCF15.2× · Pricier than median
EV/EBITDA21.8× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 47
FUTURE (revenue growth)57· sector 63
PAST (return on equity)93· sector 20
HEALTH (low debt)100· sector 92
DIVIDEND (yield)74· sector 42
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Indiamart Intermesh Limited (INDIAMART) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of ₹443.42 versus a price of ₹1,620, about −73% upside (overvalued).
What is the fair value of INDIAMART?
Our model-based fair value for Indiamart Intermesh Limited is ₹443.42 (as of Oct 3, 2026), built from audited fundamentals. The current price: ₹1,620.
What is the quality score of INDIAMART?
Indiamart Intermesh Limited has a Quality Score of 77/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Indiamart Intermesh Limited (INDIAMART)?
Our model-based price target is the fair value of ₹443.42 (as of Oct 3, 2026) from 26 valuation models. Cautious scenario ₹255.98, optimistic scenario ₹577.28. It is a calculation from audited fundamentals, not an analyst target.
What is the Indiamart Intermesh Limited stock forecast for 2026?
Our models put fair value at ₹443.42, about −73% upside versus a price of ₹1,620 (overvalued). Cautious scenario ₹255.98, optimistic scenario ₹577.28. The calculation is refreshed regularly with new filings.
What is the revenue of Indiamart Intermesh Limited (INDIAMART)?
Indiamart Intermesh Limited reported trailing-twelve-month revenue of about ₹16.1B (latest available figure, as of Oct 3, 2026).
Does Indiamart Intermesh Limited pay a dividend?
Indiamart Intermesh Limited currently shows a dividend yield of about 3.70% relative to its recent price (as of Oct 3, 2026).
What growth is priced into Indiamart Intermesh Limited (INDIAMART)?
For today's price to be fair in a discounted-cash-flow model, Indiamart Intermesh Limited would have to grow free cash flow by -3.9 % per year for five years (discount rate 10.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +18.6 % per year. As of Oct 3, 2026.
What discount rate (WACC) does the fair value of INDIAMART use?
Our models discount Indiamart Intermesh Limited at 10.4 %: a base by market capitalisation (large), damped by beta 0.25, country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Indiamart Intermesh Limited that is -3.9 % per year a year over ten years, using the same discount rate (10.4 %) and the same formula as our fair value.
How much growth has Indiamart Intermesh Limited (INDIAMART) delivered so far?
Over the past 5 years revenue at Indiamart Intermesh Limited grew +18.6 % a year. The price currently implies -3.9 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Indiamart Intermesh Limited (INDIAMART) growing?
The median revenue growth in the sector is +3.0 % a year. That is the yardstick for the growth priced into Indiamart Intermesh Limited (-3.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Indiamart Intermesh Limited (INDIAMART)?
The free-cash-flow yield on the price is 7.72 %: that much free cash flow Indiamart Intermesh Limited produces per unit of market value. When it exceeds the discount rate of our models (10.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Indiamart Intermesh Limited (INDIAMART)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Indiamart Intermesh Limited it is ₹443.42 per share (as of Oct 3, 2026), against a price of ₹1,620. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Indiamart Intermesh Limited stock overvalued or undervalued in 2026?
As of Oct 3, 2026, INDIAMART trades above its calculated fair value: price ₹1,620, fair value ₹443.42, a gap of about −73% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of INDIAMART?
No. The price is what the market pays today (₹1,620); the fair value is what the company's own numbers justify (₹443.42). For Indiamart Intermesh Limited the two are ₹1,177 per share apart. That gap is exactly why we show both numbers side by side.
How much is Indiamart Intermesh Limited worth?
The market values Indiamart Intermesh Limited at about ₹976B (market capitalisation, as of Oct 3, 2026). Per share that is ₹1,620; our models calculate a fair value of ₹443.42 per share.
What do the bullish and bearish scenarios say about INDIAMART?
Our models span a range for Indiamart Intermesh Limited: cautious scenario ₹255.98, base ₹443.42, optimistic ₹577.28 per share (as of Oct 3, 2026, price ₹1,620). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of INDIAMART?
Indiamart Intermesh Limited trades at a price-to-earnings ratio of 19.8 (as of Oct 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹443.42 is built from several models across several years. Other multiples: P/B 4.8, P/S 7.3, EV/EBITDA 21.8.
How solid is the balance sheet of Indiamart Intermesh Limited (INDIAMART)?
Balance-sheet figures for Indiamart Intermesh Limited (as of Oct 3, 2026): return on equity 20.7%. They feed the Quality Score of 77/100, which measures business quality independently of the share price.
How far is INDIAMART from its 52-week high?
Indiamart Intermesh Limited trades at ₹1,620, about 34% below its 52-week high of ₹2,439 and at the low of ₹1,615 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹443.42 is for.
Which stocks are comparable to Indiamart Intermesh Limited?
From the same area (Consumer Cyclical) we also value Amazon.com, Inc, Alibaba Group, MercadoLibre, Inc, DoorDash, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Indiamart Intermesh Limited stock attractive at the current price?
The data as of Oct 3, 2026: price ₹1,620, calculated fair value ₹443.42 (−73%), Quality Score 77/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of INDIAMART calculated?
We run Indiamart Intermesh Limited through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹443.42, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Indiamart Intermesh Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Indiamart Intermesh Limited (INDIAMART)?
The closing price on Oct 1, 2026 was ₹1,620. Our model-based fair value is ₹443.42, about −73% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Indiamart Intermesh Limited right now?
A high-quality business (quality 77/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. The price sits above even our optimistic bull case (₹577.28). The favourable scenario is already priced in. A fairly wide model range (₹255.98 to ₹577.28) leaves room in how you read the outcome.
Key figures of Indiamart Intermesh Limited
How large is the market capitalisation of Indiamart Intermesh Limited (INDIAMART)?
The market capitalisation of Indiamart Intermesh Limited is ₹976B (≈ $10.1B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Indiamart Intermesh Limited (INDIAMART)?
The price-to-sales ratio of Indiamart Intermesh Limited is 5.99 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Indiamart Intermesh Limited (INDIAMART)?
Earnings per share at Indiamart Intermesh Limited are ₹81.83 (price ÷ EPS = P/E 19.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Indiamart Intermesh Limited (INDIAMART)?
The dividend yield of Indiamart Intermesh Limited is 3.7% (payout 73.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Indiamart Intermesh Limited (INDIAMART)?
The net margin of Indiamart Intermesh Limited is 30.3% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Indiamart Intermesh Limited (INDIAMART)?
The return on equity (ROE) of Indiamart Intermesh Limited is 23.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Indiamart Intermesh Limited (INDIAMART)?
On an EBIT basis the return on assets of Indiamart Intermesh Limited is 9.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Indiamart Intermesh Limited (INDIAMART)?
The operating margin of Indiamart Intermesh Limited is 33.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Indiamart Intermesh Limited (INDIAMART)?
Revenue at Indiamart Intermesh Limited is growing +11.4% versus a year earlier (3y avg +16.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Indiamart Intermesh Limited (INDIAMART)?
Earnings per share at Indiamart Intermesh Limited are growing +11.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Indiamart Intermesh Limited (INDIAMART) hold?
Indiamart Intermesh Limited holds more cash than debt, ₹681M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
Free · no account needed
Watch Indiamart Intermesh Limited in the live analysis
One click puts Indiamart Intermesh Limited on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
