Fundamental Analysis of Indiamart Intermesh Ltd

About the Company -Indiamart Intermesh Ltd

IndiaMART InterMESH Ltd. is a Public Limited Listed company incorporated on 13/09/1999 and has its registered office in the State of Delhi, India. Company’s Corporate Identification Number(CIN) is L74899DL1999PLC101534 and registration number is 101534. Currently Company is involved in the business activities of Data processing, hosting and related activities. Company’s Total Operating Revenue is Rs. 750.77 Cr. and Equity Capital is Rs. 30.55 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Internet & Catalogue Retail	1st Floor, 29-Daryagang, New Delhi Delhi 110002	cs@indiamart.com http://www.indiamart.com

Management
Name	Position Held
Mr. Dinesh Chandra Agarwal	Managing Director & CEO
Mr. Brijesh Kumar Agrawal	Whole Time Director
Mr. Dhruv Prakash	Non Executive Director
Mr. Vivek Narayan Gour	Independent Director
Mr. Rajesh Sawhney	Independent Director
Mr. Aakash Chaudhry	Independent Director
Ms. Pallavi Dinodia Gupta	Lead Independent Director

Basic Stock Data of Indiamart Intermesh Ltd

Last Updated: July 6, 2024, 12:01 pm

Market Cap	16,187 Cr.
Current Price	2,699
High / Low	3,336/2,229
Stock P/E	44.8
Book Value	295
Dividend Yield	0.74 %
ROCE	24.4 %
ROE	18.9 %
Face Value	10.0
PEG Ratio	2.66

Indiamart Intermesh Ltd Quarterly Results

Month	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023
Sales	162	173	179	181	182	187	201	213	229	240	256	268	281
Expenses	79	84	93	91	97	108	142	154	164	170	189	192	200
Operating Profit	83	89	86	90	84	80	58	60	65	70	67	76	81
OPM %	51%	51%	48%	50%	46%	43%	29%	28%	28%	29%	26%	28%	29%
Other Income	21	24	6	30	31	22	25	-3	37	47	26	54	32
Interest	2	2	2	1	1	1	1	1	1	1	1	1	1
Depreciation	4	4	4	3	3	3	3	4	5	6	6	4	5
Profit before tax	98	108	88	115	112	97	79	52	96	110	86	124	107
Tax %	24%	24%	38%	21%	24%	24%	24%	7%	23%	26%	22%	23%	22%
Net Profit	74	82	54	91	85	74	60	49	74	82	68	95	83
EPS in Rs	12.80	14.00	8.93	14.92	13.93	12.16	9.77	7.99	12.12	13.33	11.03	15.56	13.54

Indiamart Intermesh Ltd Quarterly Chart

Indiamart Intermesh Ltd Profit & Loss

Month	Mar 2011	Mar 2012	Mar 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Sales	69	116	126	173	246	309	404	497	624	665	751	939	1,096
Expenses	137	172	133	212	293	331	595	483	451	332	439	677	786
Operating Profit	-68	-55	-7	-39	-47	-23	-191	14	173	333	312	262	310
OPM %	-98%	-48%	-5%	-22%	-19%	-7%	-47%	3%	28%	50%	42%	28%	28%
Other Income	5	7	1	23	8	14	7	36	62	85	108	108	151
Interest	0	0	0	0	1	0	0	0	3	7	5	5	4
Depreciation	3	4	3	3	3	4	3	4	21	16	12	19	20
Profit before tax	-66	-53	-9	-19	-43	-13	-187	46	210	396	403	345	436
Tax %	-12%	0%	-0%	0%	-1%	0%	61%	73%	30%	28%	23%	21%
Net Profit	-74	-53	-9	-19	-43	-13	-72	13	146	287	310	272	337
EPS in Rs	-40.58	-28.71	-4.81	-10.37	-23.58	-7.16	-36.22	2.20	25.30	47.23	50.71	44.48	55.09
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	20%	16%	2%	22%

Indiamart Intermesh Ltd Profit & Loss Yearly Chart

Indiamart Intermesh Ltd Growth

Compounded Sales Growth
10 Years:	%
5 Years:	18%
3 Years:	20%
TTM:	21%

Compounded Profit Growth
10 Years:	%
5 Years:	96%
3 Years:	8%
TTM:	31%

Stock Price CAGR
10 Years:	%
5 Years:	%
3 Years:	-9%
1 Year:	-9%

Return on Equity
10 Years:	%
5 Years:	20%
3 Years:	17%
Last Year:	19%

Last Updated: June 20, 2024, 7:08 am

Indiamart Intermesh Ltd Balance Sheet

Month	Mar 2011	Mar 2012	Mar 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	9	9	9	9	9	9	10	29	29	30	31	31	60
Reserves	-53	-104	-113	-139	-67	-262	-322	132	246	1,586	1,862	2,034	1,516
Preference Capital	49	49	49	49	66	0	0	0	0	0	0	0
Borrowings	2	0	0	0	0	0	0	0	77	63	56	46	48
Other Liabilities	141	150	158	237	318	609	862	658	768	835	1,017	1,250	1,307
Total Liabilities	99	55	55	107	260	356	550	819	1,119	2,516	2,965	3,361	2,931
Fixed Assets	14	13	10	6	9	126	8	9	85	65	56	53	54
CWIP	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments	64	27	29	68	211	156	322	614	906	2,267	2,745	3,224	2,816
Other Assets	21	15	15	33	40	74	219	196	127	184	163	83	60
Total Assets	99	55	55	107	260	356	550	819	1,119	2,516	2,965	3,361	2,931

Indiamart Intermesh Ltd Reserves and Borrowings Chart

Indiamart Intermesh Ltd Cash Flow

Month	Mar 2011	Mar 2012	Mar 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Cash from Operating Activity	-13	-38	2	14	15	59	183	259	264	326	407	464
Cash from Investing Activity	15	40	-2	-11	-146	-60	-170	-282	-236	-1,343	-339	-316
Cash from Financing Activity	-0	-3	0	-0	133	7	15	14	-51	1,038	-58	-143
Net Cash Flow	1	0	0	3	2	6	28	-9	-23	22	10	5

Indiamart Intermesh Ltd Financial Efficiency Indicators

Month	Mar 2012	Mar 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	3	2	1	1	1	0	0	1	1	1	1	0
Inventory Days
Days Payable
Cash Conversion Cycle	3	2	1	1	1	0	0	1	1	1	1	0
Working Capital Days	-247	-226	-263	-237	-250	-265	-283	-264	-242	-285	-308	360
ROCE %								86%	40%	22%	17%

Indiamart Intermesh Ltd Financial Efficiency Indicators Chart

Indiamart Intermesh Ltd Share Holding Pattern

Month	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoters	49.82%	49.52%	49.52%	49.52%	49.22%	49.22%	49.22%	49.22%	49.22%	49.21%	49.21%	49.21%
FIIs	26.68%	27.91%	26.53%	23.93%	23.59%	25.00%	25.38%	26.60%	26.76%	27.33%	24.16%	23.08%
DIIs	4.71%	4.68%	5.34%	5.46%	4.96%	5.24%	5.81%	5.62%	5.62%	5.46%	8.23%	10.60%
Public	18.64%	17.16%	18.57%	21.05%	21.50%	20.33%	19.46%	18.45%	18.27%	17.87%	18.30%	17.08%
Others	0.16%	0.72%	0.04%	0.04%	0.72%	0.21%	0.15%	0.12%	0.12%	0.11%	0.08%	0.05%
No. of Shareholders	1,52,874	1,34,182	1,59,617	2,10,173	2,41,409	2,14,640	1,95,249	1,77,654	1,65,627	1,71,470	1,71,361	1,61,823

Indiamart Intermesh Ltd Shareholding Pattern Chart

No. of Indiamart Intermesh Ltd Shareholders

Indiamart Intermesh Ltd Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
UTI Flexi Cap Fund	1,110,735	1.21	294.3	183,469	2024-07-05	505.41%
SBI Technology Opportunities Fund	284,033	2.36	75.26	183,469	2024-07-05	54.81%
ICICI Prudential Technology Fund	183,469	0.45	48.61	183,469	2024-07-05	0%
Franklin India Technology Fund	120,667	3.32	31.97	183,469	2024-07-05	-34.23%
PGIM India Small Cap Fund	99,367	1.59	26.33	183,469	2024-07-05	-45.84%
UTI Unit Linked Insurance Plan (ULIP) - Ten Year Plan	97,565	0.5	25.85	183,469	2024-07-05	-46.82%
Invesco India Smallcap Fund	95,429	0.88	25.28	183,469	2024-07-05	-47.99%
Aditya Birla Sun Life Digital India Fund	92,555	0.62	24.52	183,469	2024-07-05	-49.55%
Franklin India Opportunities Fund	77,188	1.37	20.45	183,469	2024-07-05	-57.93%
Invesco India ELSS Tax Saver Fund	67,285	0.83	17.83	183,469	2024-07-05	-63.33%

Indiamart Intermesh Ltd ROCE Trend

Indiamart Intermesh Ltd EPS Trend

Indiamart Intermesh Ltd Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	55.18	92.96	97.82	96.15	51.14
Diluted EPS (Rs.)	55.04	92.63	96.84	94.58	50.24
Cash EPS (Rs.)	68.60	115.38	105.33	98.46	58.93
Book Value[Excl.RevalReserv]/Share (Rs.)	289.83	673.17	613.38	531.36	95.25
Book Value[Incl.RevalReserv]/Share (Rs.)	289.83	673.17	613.38	531.36	95.25
Revenue From Operations / Share (Rs.)	199.80	322.25	246.62	220.86	221.23
PBDIT / Share (Rs.)	90.48	146.64	137.48	136.81	82.24
PBIT / Share (Rs.)	84.39	136.48	133.57	131.51	74.92
PBT / Share (Rs.)	82.60	133.81	131.80	129.31	73.78
Net Profit / Share (Rs.)	62.50	105.21	101.42	93.16	51.61
NP After MI And SOA / Share (Rs.)	55.76	92.82	97.41	92.28	51.04
PBDIT Margin (%)	45.28	45.50	55.74	61.94	37.17
PBIT Margin (%)	42.23	42.35	54.16	59.54	33.86
PBT Margin (%)	41.34	41.52	53.44	58.54	33.35
Net Profit Margin (%)	31.28	32.64	41.12	42.18	23.32
NP After MI And SOA Margin (%)	27.90	28.80	39.49	41.78	23.06
Return on Networth / Equity (%)	19.23	13.78	15.88	17.36	53.58
Return on Capital Employeed (%)	21.22	16.12	17.81	20.23	34.20
Return On Assets (%)	9.68	8.23	10.09	11.13	13.12
Asset Turnover Ratio (%)	0.34	0.29	0.27	0.36	0.64
Current Ratio (X)	2.22	2.76	3.71	4.41	1.88
Quick Ratio (X)	2.22	2.76	3.71	4.41	1.88
Dividend Payout Ratio (NP) (%)	0.00	2.15	15.29	0.00	19.59
Dividend Payout Ratio (CP) (%)	0.00	1.93	14.70	0.00	17.13
Earning Retention Ratio (%)	0.00	97.85	84.71	0.00	80.41
Cash Earning Retention Ratio (%)	0.00	98.07	85.30	0.00	82.87
Interest Coverage Ratio (X)	60.90	55.01	77.76	62.25	72.34
Interest Coverage Ratio (Post Tax) (X)	43.27	40.47	58.36	43.39	46.39
Enterprise Value (Cr.)	15746.84	15317.30	13131.85	23364.27	5566.43
EV / Net Operating Revenue (X)	13.16	15.54	17.43	34.89	8.71
EV / EBITDA (X)	29.05	34.16	31.26	56.33	23.44
MarketCap / Net Operating Revenue (X)	13.24	15.60	17.53	35.01	8.75
Retention Ratios (%)	0.00	97.84	84.70	0.00	80.40
Price / BV (X)	9.13	7.47	7.05	14.55	20.32
Price / Net Operating Revenue (X)	13.24	15.60	17.53	35.01	8.75
EarningsYield	0.02	0.01	0.02	0.01	0.02

Indiamart Intermesh Ltd Profitability Ratios (%)

Indiamart Intermesh Ltd Liquidity Ratios

Indiamart Intermesh Ltd Liquidity Ratios (%)

Indiamart Intermesh Ltd Interest Coverage Ratios (%)

Indiamart Intermesh Ltd Valuation Ratios

Fair Value

Fair Value: 2,516.31

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Overvalued: 6.77% compared to the current price 2699

Intrinsic Value: 2,940.05

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 8.93% compared to the current price ₹2699

Last 5 Year EPS CAGR: 16.84%

*Investments are subject to market risks

Strength and Weakness of Indiamart Intermesh Ltd Stock

Strength	Weakness
The stock has a low average Working Capital Days of -209.17, which is a positive sign. The company has higher reserves (485.85 cr) compared to borrowings (20.15 cr), indicating strong financial stability. The company has shown consistent growth in sales (378.46 cr) and profit (111.23 cr) over the years.	The stock has a low average ROCE of 13.75%, which may not be favorable. The stock has a high average Cash Conversion Cycle of 1.00, which may not be favorable.

FAQ

What is the latest fair value of Indiamart Intermesh Ltd?

The latest fair value of Indiamart Intermesh Ltd is ₹2516.31.

What is the Market Cap of Indiamart Intermesh Ltd?

The Market Cap of Indiamart Intermesh Ltd is 16,187 Cr..

What is the current Stock Price of Indiamart Intermesh Ltd as on 06 July 2024?

The current stock price of Indiamart Intermesh Ltd as on 06 July 2024 is 2,699.

What is the High / Low of Indiamart Intermesh Ltd stocks in FY 2024?

In FY 2024, the High / Low of Indiamart Intermesh Ltd stocks is 3,336/2,229.

What is the Stock P/E of Indiamart Intermesh Ltd?

The Stock P/E of Indiamart Intermesh Ltd is 44.8.

What is the Book Value of Indiamart Intermesh Ltd?

The Book Value of Indiamart Intermesh Ltd is 295.

What is the Dividend Yield of Indiamart Intermesh Ltd?

The Dividend Yield of Indiamart Intermesh Ltd is 0.74 %.

What is the ROCE of Indiamart Intermesh Ltd?

The ROCE of Indiamart Intermesh Ltd is 24.4 %.

What is the ROE of Indiamart Intermesh Ltd?

The ROE of Indiamart Intermesh Ltd is 18.9 %.

What is the Face Value of Indiamart Intermesh Ltd?

The Face Value of Indiamart Intermesh Ltd is 10.0.