Indiamart Intermesh Ltd
Indiamart Intermesh Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
IndiaMART expects continued growth in new license activations, with Q2 showing 12,000 licenses added compared to 8,000 previously, driven by investments paying off. - Revenue from operations grew 12% YoY to Rs. IndiaMART expects to continue delivering steady growth based on historical ARPU trends, which have risen at a 7-8% CAGR; they foresee sustainable ARPU growth in the 6-8% range going forward.
From Indiamart Intermesh Ltd's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.
Revenue & Sales Performance
- IndiaMART expects continued growth in new license activations, with Q2 showing 12,000 licenses added compared to 8,000 previously, driven by investments paying off.
- Revenue from operations grew 12% YoY to Rs. 391 crores in Q2 FY26; collections grew 14% YoY.
- Deferred revenue increased 18% YoY to Rs. 1,750 crores, indicating strong recurring revenue.
- Marketing spend planned around Rs. 8-10 crores per quarter, with focus on optimizing performance marketing to sustain lead generation.
- The platinum and gold customer segments (top ~50% customers) contribute ~75% of revenue and show good upsell and retention potential, underpinning future revenue growth.
- ARPU (Average Revenue Per User), especially in top 1% customers, has increased mainly due to price hikes and enhanced product offerings.
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Profitability & Margins
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Capital Expenditure Plans
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Fundraising & Capital Structure
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Order Book & Pipeline
- Earlier, IndiaMART had an "order book" or "orders in progress" of about 1,200 customers due to a wait period for GST verification and payment clearance before activating suppliers.
- With process improvements, including immediate activation upon GST verification, this backlog ("rollover order book") is now cleared.
- The immediate activation removed the previous 3-5-7 days wait time, converting this order book into immediate customer additions (~4,000 customers added).
- However, some of these customers may churn early due to payment failures or GST verification issues.
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Indiamart Intermesh Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹404 Cr, net profit ₹50 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Indiamart Inter.'s management said in earlier quarters
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Frequently Asked Questions
What were Indiamart Intermesh Ltd Q2 FY26 results?
IndiaMART expects continued growth in new license activations, with Q2 showing 12,000 licenses added compared to 8,000 previously, driven by investments paying off. - Revenue from operations grew 12% YoY to Rs. IndiaMART expects to continue delivering steady growth based on historical ARPU trends, which have risen at a 7-8% CAGR; they foresee sustainable ARPU growth in the 6-8% range going forward.
What is Indiamart Intermesh Ltd share price analysis?
Indiamart Intermesh Ltd currently shows a neutral. The stock trades at a P/E of 19.8 with a market cap of ₹9,786 Cr. Investors should review the full earnings analysis for detailed insights.
Is Indiamart Intermesh Ltd planning capital expenditure?
The provided transcript from IndiaMART InterMESH Limited's Q2 FY26 earnings call does not explicitly mention any current or future capex, capital investment, or strategic investment plans.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.