Just Dial Limited (JUSTDIAL) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Just Dial Limited ₹739, price ₹653, upside +13.2%, quality 64 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range ₹490.70 – ₹1,355 · fair‑value band ₹482.66 – ₹993.82 · the ₹653.15 price screens below the ₹739.42 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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Just Dial Limited engages in the search engine business in India. The company offers local search, search related, and software services through various platforms, including internet, mobile internet, over the telephone, and text.
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Just Dial Limited engages in the search engine business in India. The company offers local search, search related, and software services through various platforms, including internet, mobile internet, over the telephone, and text. The company provides JD app, a one-stop solution offering business discovery services, including user-ratings, location-based search, 360-degree images, movies, news, sports, stocks, and augmented reality-based listing finder; JD ratings tool; JD business app to manage business listings; and JD mart, a B2B marketplace for micro, small, and medium enterprises for their business requirements. It also provides JD analytics dashboard, which acts as a solution for insights into customer interactions, leads from various platforms, missed call alerts, review responses, competition and category trends, quick reminders, note addition, and customer feedback; online self-sign-up; JD omni, a cloud-based solution; JD pay for digital payments; JD Social, a social sharing platform; and JD Xperts, a one stop solution for user's on demand service needs, such as salon, repairs and services, plumbing, electrical needs, cleaning services, pest control service, fitness and yoga, etc. Just Dial Limited was incorporated in 1993 and is based in Mumbai, India. As of October 6, 2021, Just Dial Limited operates as a subsidiary of Reliance Retail Ventures Limited.
Stock analysis
Just Dial Limited (JUSTDIAL) currently trades at ₹653.15, while our model-based Fair Value estimate is ₹739.42, implying the stock looks roughly 11.7% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹1,092 per share, and 7 of the 24 models we run sit above the ₹653.15 price.
Bear case: the Economic Profit group reads lowest at ₹231.16, and 17 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: ₹482.66 (bear) to ₹993.82 (bull), the price of ₹653.15 sits inside 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 64/100 (solid quality), in the Communication Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Just Dial Limited reported revenue of ₹12.1B in FY2026 versus ₹6.5B in FY2022, a compound +17.0%/yr. Reported net income was ₹5.0B in FY2026, compounding +62.8%/yr from FY2022. FY2022 was a trough year, so the rate overstates the trend.
Key figures
Market cap ₹55.5B (≈ $577M) · P/E ratio 11.2 · P/S ratio 4.58 · EPS (TTM) ₹58.43 · Net margin 40.9% · Return on equity 10.2% · Return on assets (EBIT) 2.9% · Operating margin 25.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (medium confidence).
What moves the price
The share trades about 24% below its 52-week high and 33% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 10% fair-value upside, at 13%, JUSTDIAL screens cheaper than that median.
Fair Value models
Bear ₹482.66Fair Value ₹739.42Bull ₹993.82
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 (₹29.62 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.92/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+6.3%
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.
+12.8%
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.
+12.4%
Start year 2021 (pandemic). Over 10 years: +6.0% a year
Revenue growth 18 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.
+17.2%
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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.
+12.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+12.1%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.12.1% vs 11.5%, steady
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.18% → 26%
Start year 2021 (pandemic)
Growth Forecast
Little optimism in the price
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).
less than -40 %
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.
+6.5%
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 +2.3% a year for the forecasts.
Price, fair value, quality and upside side by side.
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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 · 125 stocks
Beats the industry median on 9/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score64 · Above median
Fair Value upside+13.2% · Above median
Profitability
Return on equity (TTM)10.2% · Above median
Return on assets3.4% · Above median
Net margin (TTM)41.0% · Top 25%
Operating margin (TTM)25.4% · Top 25%
Growth and dividend
Revenue growth6.2% · Above median
Valuation Multiplesvs Internet Content & Information median · lower = cheaper
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 Just Dial Limited (JUSTDIAL) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of ₹739.42 versus a price of ₹653.15, about +13% upside (undervalued).
What is the fair value of JUSTDIAL?
Our model-based fair value for Just Dial Limited is ₹739.42 (as of Sep 27, 2026), built from audited fundamentals. The current price: ₹653.15.
What is the quality score of JUSTDIAL?
Just Dial Limited has a Quality Score of 64/100. 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 Just Dial Limited (JUSTDIAL)?
Our model-based price target is the fair value of ₹739.42 (as of Sep 27, 2026) from 24 valuation models. Cautious scenario ₹482.66, optimistic scenario ₹993.82. It is a calculation from audited fundamentals, not an analyst target.
What is the Just Dial Limited stock forecast for 2026?
Our models put fair value at ₹739.42, about +13% upside versus a price of ₹653.15 (undervalued). Cautious scenario ₹482.66, optimistic scenario ₹993.82. The calculation is refreshed regularly with new filings.
What is the revenue of Just Dial Limited (JUSTDIAL)?
Just Dial Limited reported trailing-twelve-month revenue of about ₹12.1B (latest available figure, as of Sep 27, 2026).
What growth is priced into Just Dial Limited (JUSTDIAL)?
For today's price to be fair in a discounted-cash-flow model, Just Dial Limited would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 12.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +12.5 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of JUSTDIAL use?
Our models discount Just Dial Limited at 12.4 %: a base by market capitalisation (small), damped by beta 0.17, 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 Just Dial Limited that is less than minus 40 % per year a year over ten years, using the same discount rate (12.4 %) and the same formula as our fair value.
How much growth has Just Dial Limited (JUSTDIAL) delivered so far?
Over the past 5 years revenue at Just Dial Limited grew +12.5 % a year. The price currently implies less than minus 40 % 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 Just Dial Limited (JUSTDIAL) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into Just Dial Limited (less than minus 40 % 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 Just Dial Limited (JUSTDIAL)?
The free-cash-flow yield on the price is 5.58 %: that much free cash flow Just Dial Limited produces per unit of market value. When it exceeds the discount rate of our models (12.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Just Dial Limited (JUSTDIAL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Just Dial Limited it is ₹739.42 per share (as of Sep 27, 2026), against a price of ₹653.15. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Just Dial Limited stock overvalued or undervalued in 2026?
As of Sep 27, 2026, JUSTDIAL trades below its calculated fair value: price ₹653.15, fair value ₹739.42, a gap of about +13% (undervalued). 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 JUSTDIAL?
No. The price is what the market pays today (₹653.15); the fair value is what the company's own numbers justify (₹739.42). For Just Dial Limited the two are ₹86.27 per share apart. That gap is exactly why we show both numbers side by side.
How much is Just Dial Limited worth?
The market values Just Dial Limited at about ₹55.5B (market capitalisation, as of Sep 27, 2026). Per share that is ₹653.15; our models calculate a fair value of ₹739.42 per share.
What do the bullish and bearish scenarios say about JUSTDIAL?
Our models span a range for Just Dial Limited: cautious scenario ₹482.66, base ₹739.42, optimistic ₹993.82 per share (as of Sep 27, 2026, price ₹653.15). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of JUSTDIAL?
Just Dial Limited trades at a price-to-earnings ratio of 11.2 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹739.42 is built from several models across several years. Other multiples: P/B 1.1, P/S 4.6, EV/EBITDA 15.0.
How solid is the balance sheet of Just Dial Limited (JUSTDIAL)?
Balance-sheet figures for Just Dial Limited (as of Sep 27, 2026): return on equity 10.2%. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
How far is JUSTDIAL from its 52-week high?
Just Dial Limited trades at ₹653.15, about 24% below its 52-week high of ₹860.95 and 33% above the low of ₹490.70 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹739.42 is for.
Which stocks are comparable to Just Dial Limited?
From the same area (Communication Services) we also value Alphabet Inc, Meta Platforms, Inc, Tencent Holdings, Spotify Technology S.A, 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 Just Dial Limited stock attractive at the current price?
The data as of Sep 27, 2026: price ₹653.15, calculated fair value ₹739.42 (+13%), Quality Score 64/100, from 24 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 JUSTDIAL calculated?
We run Just Dial Limited through 24 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 ₹739.42, 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. Just Dial Limited currently trades 12 % below its own fair value, and the market average says nothing about that. 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 Just Dial Limited (JUSTDIAL)?
The closing price on Oct 1, 2026 was ₹653.15. Our model-based fair value is ₹739.42, about +13% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Just Dial Limited right now?
A fairly wide model range (₹482.66 to ₹993.82) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Just Dial Limited (JUSTDIAL) come from?
Earnings per share at Just Dial Limited grew +12.9 % a year from 2015 to 2026. Broken into its drivers: revenue per share +4.0 %, EBIT margin +2.7 %, tax rate +1.3 %, residual (interest, one-offs) +4.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Just Dial Limited
How large is the market capitalisation of Just Dial Limited (JUSTDIAL)?
The market capitalisation of Just Dial Limited is ₹55.5B (≈ $577M). 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 Just Dial Limited (JUSTDIAL)?
The price-to-sales ratio of Just Dial Limited is 4.58 (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 Just Dial Limited (JUSTDIAL)?
Earnings per share at Just Dial Limited are ₹58.43 (price ÷ EPS = P/E 11.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Just Dial Limited (JUSTDIAL)?
The net margin of Just Dial Limited is 40.9% (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 Just Dial Limited (JUSTDIAL)?
The return on equity (ROE) of Just Dial Limited is 10.2% (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 Just Dial Limited (JUSTDIAL)?
On an EBIT basis the return on assets of Just Dial Limited is 2.9% (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 Just Dial Limited (JUSTDIAL)?
The operating margin of Just Dial Limited is 25.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Just Dial Limited (JUSTDIAL)?
Revenue at Just Dial Limited is growing +6.2% versus a year earlier (3y avg +12.8%). 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 Just Dial Limited (JUSTDIAL)?
Earnings per share at Just Dial Limited are growing −36.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Just Dial Limited (JUSTDIAL) hold?
Just Dial Limited holds more cash than debt, ₹1.2B net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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