Just Dial Ltd: Intrinsic Value & Share Price Analysis

Q: What is the intrinsic value of Just Dial Ltd and is it undervalued?

Just Dial Ltd: the stored intrinsic value estimate is ₹683.85, compared with a stored share price of ₹672.00. The model value is 1.8% above that quote. The model classifies this as fairly valued; it is an estimate dependent on the inputs and assumptions, not a price target or a buy/sell recommendation. The estimate uses the available valuation models and weights shown in the Intrinsic Value panel, including earnings, cash-flow and asset-based approaches where data permits. It is not a P/E-only calculation.

Fair Value

₹182.03Overvalued by 72.91%vs CMP ₹672.00

P/E (11.0) × ROE (3.4%) × BV (₹600.00) × DY (2.00%)

₹682.11Fairly Valued by 1.50%vs CMP ₹672.00

MoS: +1.5% (Thin)Confidence: 48/100 (Moderate)Models: 3 Under, 1 Fair, 5 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹273.67	23%	Over (-59.3%)
Graham Number	Earnings	₹938.26	17%	Under (+39.6%)
Earnings Power	Earnings	₹348.83	11%	Over (-48.1%)
DCF	Cash Flow	₹1,589.72	11%	Under (+136.6%)
Net Asset Value	Assets	₹599.87	7%	Over (-10.7%)
EV/EBITDA	Enterprise	₹349.04	9%	Over (-48.1%)
Earnings Yield	Earnings	₹652.10	7%	Fair (-3%)
ROCE Capital	Returns	₹1,304.57	9%	Under (+94.1%)
Revenue Multiple	Revenue	₹134.17	6%	Over (-80%)
Consensus (9 models)		₹682.11	100%	Fairly Valued

Key Drivers: EPS CAGR 50.3% lifts DCF — verify sustainability. | ROE 3.4% is below cost of equity.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 50.3%

*Investments are subject to market risks

Analysis summary

Data coverage: Price-data record updated 24 September 2026, 9:34 pm +05:30. Annual results through Mar 2025; quarterly results through Dec 2025; cash flow through Mar 2026. Each section can have a different reporting period. The share price is not live.

Valuation in context

Operating performance

Revenue for Mar 2025 was ₹1,142.00 Cr, versus ₹1,043.00 Cr in Mar 2024 (9.5% year on year). Net profit for Mar 2025 was ₹584.00 Cr, versus ₹363.00 Cr in Mar 2024 (60.9% year on year). These are the latest annual periods stored on this page; check the quarterly table separately for more recent developments.

Cash generation

For the same Mar 2025 period, operating cash flow was ₹311.00 Cr against net profit of ₹584.00 Cr. Cash flow covered 0.53 times reported profit. The gap warrants checking receivables, working capital and one-off items in the cash-flow statement.

Balance-sheet check

Reported borrowings were ₹85.00 Cr in Mar 2026. Read this alongside cash, interest costs and repayment obligations; reserves are an accounting balance and are not the same as available cash.

How to use the valuation and peer comparisons

The Intrinsic Value panel combines the available model estimates using the displayed weights. Earnings, cash-flow, dividend and asset-based methods can give very different answers. The displayed 12% cost of equity and 4% terminal growth assumptions apply where relevant; historical EPS growth is not a promise of future growth. Use the individual values and their spread to judge sensitivity.

The peer group follows the stored industry classification and may include different business models. Compare reporting periods, leverage and recurring earnings before interpreting a valuation gap. For banks and other financial businesses, capital adequacy and asset quality can be more informative than industrial-company cash-flow ratios.

Sources: Company data source. Check the company filings linked by the source for the reporting basis and exceptional items.

Automatically generated interpretation of the stored financial data, not a separately researched analyst opinion. Missing data is not evidence of poor performance. New filings become available here after the existing data refresh process captures them.

Investment Snapshot

Just Dial Ltd scores 63/100 (Average)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health60/100 · Moderate

ROCE 7.0% WeakROE 3.4% WeakDebt/equity Not availableInterest Coverage 56.3x StrongProfitable 5/5 available years Reported history

Smart Money45/100 · Moderate

FII holding down -2.72% (6mo) SellingDII holding up 0.82% MF buyingPromoter holding at 74.1% Stable

Earnings Quality75/100 · Strong

CFO/NP ratio: 0.67x Partially cash-backedOPM expanding (5% → 25%) Improving

Quarterly Momentum68/100 · Strong

Revenue (4Q): +7% YoY GrowingProfit (4Q): +2% YoY Positive

Industry Rank55/100 · Moderate

P/E 11.0 vs industry 18.1 Lower P/EROCE 7.0% vs industry 17.7% Below peersROE 3.4% vs industry 13.5% Below peers3Y sales CAGR: 21% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores use stored reporting periods and are screening indicators, not investment recommendations. Missing health ratios are excluded. Broad industry groups and financial-sector accounting can limit comparability.

Share Price and Basic Stock Data

Last Updated: September 24, 2026, 9:34 pm

Market Cap	5,720 Cr.
Current Price	672
Intrinsic Value	₹683.85
High / Low	879/480
Stock P/E	11.0
Book Value	600
Dividend Yield	0.00 %
ROCE	7.01 %
ROE	3.38 %
Face Value	10.0
PEG Ratio	0.22

Understand these figures: how to read the P/E ratio, ROE versus earnings per share, and calculate intrinsic value.

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Just Dial Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Just Dial Ltd	5,720 Cr.	672	879/480	11.0	600	0.00 %	7.01 %	3.38 %	10.0
Indiamart Intermesh Ltd	9,844 Cr.	1,636	2,526/1,618	18.4	423	1.83 %	28.6 %	21.8 %	10.0
Matrimony.com Ltd	1,114 Cr.	539	574/363	24.8	99.9	0.93 %	17.4 %	15.2 %	5.00
Industry Average	5,559.33 Cr	949.00		18.07	374.30	0.92%	17.67%	13.46%	8.33

All Competitor Stocks of Just Dial Ltd

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	221	233	247	261	265	270	281	285	287	289	298	303	306
Expenses	194	199	210	212	205	200	200	203	201	203	211	216	210
Operating Profit	27	33	37	49	60	71	81	82	87	86	86	87	95
OPM %	12%	14%	15%	19%	23%	26%	29%	29%	30%	30%	29%	29%	31%
Other Income	71	74	81	58	75	91	87	114	77	109	127	73	64
Interest	2	3	2	2	2	3	2	2	3	3	3	2	2
Depreciation	8	9	10	12	12	12	12	12	12	12	12	11	11
Profit before tax	88	96	106	92	121	147	154	182	149	180	199	147	146
Tax %	14%	13%	21%	22%	24%	22%	8%	15%	12%	12%	20%	19%	19%
Net Profit	75	84	83	72	92	116	141	154	131	158	160	119	118
EPS in Rs	8.93	9.94	9.81	8.44	10.82	13.60	16.61	18.12	15.44	18.53	18.77	14.04	13.87

Last Updated: February 5, 2026, 8:46 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 5:10 pm

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	461	590	668	719	782	892	953	675	647	845	1,043	1,142	1,196
Expenses	319	424	523	609	617	663	680	520	649	759	826	807	841
Operating Profit	142	166	144	110	164	229	273	155	-2	86	217	335	355
OPM %	31%	28%	22%	15%	21%	26%	29%	23%	-0%	10%	21%	29%	30%
Other Income	40	49	80	87	66	93	140	150	122	142	305	387	373
Interest	0	0	0	0	0	0	9	7	7	8	9	11	11
Depreciation	17	24	31	40	36	34	52	42	30	32	46	47	46
Profit before tax	165	191	193	156	194	288	352	255	83	188	466	664	671
Tax %	27%	27%	26%	22%	26%	28%	23%	16%	15%	13%	22%	12%
Net Profit	121	139	143	121	143	207	272	214	71	163	363	584	555
EPS in Rs	17.19	19.70	20.55	17.45	21.25	31.93	41.96	34.62	8.49	19.32	42.67	68.70	65.21
Dividend Payout %	12%	10%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	14.88%	2.88%	-15.38%	18.18%	44.76%	31.40%	-21.32%	-66.82%	129.58%	122.70%	60.88%
Change in YoY Net Profit Growth (%)	0.00%	-12.00%	-18.26%	33.57%	26.57%	-13.35%	-52.72%	-45.50%	196.40%	-6.88%	-61.82%

Just Dial Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	7%
5 Years:	4%
3 Years:	21%
TTM:	8%

Compounded Profit Growth
10 Years:	9%
5 Years:	0%
3 Years:	150%
TTM:	219%

Stock Price CAGR
10 Years:	0%
5 Years:	16%
3 Years:	10%
1 Year:	-35%

Return on Equity
10 Years:	7%
5 Years:	4%
3 Years:	4%
Last Year:	6%

Last Updated: September 5, 2025, 8:35 am

Balance Sheet

Last Updated: April 29, 2026, 3:44 pm

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	70	69	70	67	65	65	62	84	84	85	85	85
Reserves	603	670	836	912	934	1,223	1,202	3,402	3,583	3,938	4,521	5,021
Borrowings	0	0	0	0	4	76	63	55	68	85	100	85
Other Liabilities	291	309	360	431	546	468	459	491	601	752	814	853
Total Liabilities	965	1,048	1,266	1,410	1,549	1,832	1,786	4,033	4,337	4,861	5,521	6,044
Fixed Assets	92	139	156	149	126	172	138	134	152	147	143	109
CWIP	0	9	9	0	6	0	0	0	30	0	0	0
Investments	773	796	965	1,143	1,291	1,553	1,512	3,798	4,051	4,608	4,968	5,644
Other Assets	100	105	136	118	126	107	137	101	103	107	410	292
Total Assets	965	1,048	1,266	1,410	1,549	1,832	1,786	4,033	4,337	4,861	5,521	6,044

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity +	185	148	136	226	276	153	139	39	179	259	311	269
Cash from Investing Activity +	-158	25	-118	-137	-77	-127	174	-2,187	-163	-230	-290	-242
Cash from Financing Activity +	-14	-181	1	-84	-217	-27	-291	2,109	-23	-27	-29	-31
Net Cash Flow	12	-8	19	5	-17	-1	22	-38	-7	2	-7	-4
Free Cash Flow	117	55	104	205	260	150	135	25	129	282	305	265
CFO/OP	145%	142%	145%	165%	143%	81%	121%	-2,092%	229%	134%	114%	96%

Free Cash Flow

Free cash flow reported in the stored cash-flow statement (₹ Cr)
Period	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Free Cash Flow	117.00	55.00	104.00	205.00	260.00	150.00	135.00	25.00	129.00	282.00	305.00	265.00

This table and the chart use the Free Cash Flow row from the same stored cash-flow statement. Free cash flow generally measures operating cash flow after capital expenditure; check the source definition and reporting basis. It is not operating profit minus borrowings.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	0	0	0	0	0	0	0	0	0	0	0	0
Inventory Days
Days Payable
Cash Conversion Cycle	0	0	0	0	0	0	0	0	0	0	0	0
Working Capital Days	-166	-166	-154	-161	-181	-178	-145	-190	-211	-206	-192	-185
ROCE %	27%	26%	13%	19%	21%	29%	30%	12%	-0%	2%	5%	7%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	74.31%	74.31%	74.29%	74.18%	74.15%	74.15%	74.15%	74.15%	74.15%	74.15%	74.15%	74.14%
FIIs	4.88%	4.87%	5.31%	6.95%	7.82%	7.32%	6.57%	6.49%	5.93%	5.96%	4.82%	3.21%
DIIs	9.36%	8.89%	8.18%	8.86%	8.37%	8.32%	8.92%	8.80%	9.05%	8.96%	9.31%	9.87%
Public	11.45%	11.93%	12.21%	10.01%	9.65%	10.18%	10.36%	10.57%	10.87%	10.93%	11.71%	12.76%
No. of Shareholders	84,585	79,372	76,660	73,054	76,713	81,848	79,939	81,344	84,460	83,604	82,557	82,236

Shareholding Pattern Chart

No. of Shareholders

Just Dial Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Quant Small Cap Fund	3,767,715	0.92	251.89	2,156,327	2025-12-08 04:52:56	74.73%
Nippon India Small Cap Fund	1,688,026	0.17	112.85	1,627,157	2026-02-23 01:40:13	3.74%
DSP Small Cap Fund	1,543,718	0.64	103.21	1,491,562	2025-12-08 04:52:56	3.5%
Franklin India Dividend Yield Fund	225,000	0.62	15.04	N/A	N/A	N/A

ROCE Trend

EPS Trend

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.)	42.72	19.32	9.49	33.92	42.00
Diluted EPS (Rs.)	42.67	19.14	9.31	33.00	41.81
Cash EPS (Rs.)	48.11	23.11	12.04	41.45	49.97
Book Value[Excl.RevalReserv]/Share (Rs.)	473.13	434.90	416.96	204.31	198.39
Book Value[Incl.RevalReserv]/Share (Rs.)	473.13	434.90	416.96	204.31	198.39
Revenue From Operations / Share (Rs.)	122.64	100.19	77.38	109.11	150.40
PBDIT / Share (Rs.)	61.38	27.00	14.35	49.19	63.57
PBIT / Share (Rs.)	55.96	23.18	10.78	42.35	55.55
PBT / Share (Rs.)	54.86	22.27	9.96	41.15	54.17
Net Profit / Share (Rs.)	42.68	19.30	8.47	34.61	41.95
NP After MI And SOA / Share (Rs.)	42.68	19.30	8.47	34.61	41.95
PBDIT Margin (%)	50.05	26.94	18.54	45.07	42.26
PBIT Margin (%)	45.62	23.14	13.93	38.81	36.93
PBT Margin (%)	44.73	22.23	12.87	37.71	36.02
Net Profit Margin (%)	34.79	19.26	10.94	31.71	27.89
NP After MI And SOA Margin (%)	34.79	19.26	10.94	31.71	27.89
Return on Networth / Equity (%)	9.02	4.43	2.03	16.93	21.14
Return on Capital Employeed (%)	11.19	5.13	2.49	18.98	25.67
Return On Assets (%)	7.46	3.75	1.75	11.98	14.86
Asset Turnover Ratio (%)	0.22	0.20	0.22	0.38	0.57
Current Ratio (X)	7.68	7.75	8.36	0.28	0.24
Quick Ratio (X)	7.68	7.75	8.36	0.28	0.24
Interest Coverage Ratio (X)	56.25	29.68	17.54	41.13	46.31
Interest Coverage Ratio (Post Tax) (X)	40.11	22.22	11.36	29.94	31.56
Enterprise Value (Cr.)	6801.67	4996.42	5924.30	5275.31	1863.83
EV / Net Operating Revenue (X)	6.52	5.91	9.16	7.81	1.91
EV / EBITDA (X)	13.03	21.95	49.37	17.33	4.52
MarketCap / Net Operating Revenue (X)	6.54	5.93	9.19	7.90	1.95
Price / BV (X)	1.69	1.37	1.71	4.22	1.48
Price / Net Operating Revenue (X)	6.54	5.93	9.19	7.90	1.95
EarningsYield	0.05	0.03	0.01	0.04	0.14

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Frequently asked questions

What is the intrinsic value of Just Dial Ltd and is it undervalued?

Just Dial Ltd: the stored intrinsic value estimate is ₹682.11, compared with a stored share price of ₹672.00. The model value is 1.5% above that quote. The model classifies this as fairly valued; it is an estimate dependent on the inputs and assumptions, not a price target or a buy/sell recommendation. The estimate uses the available valuation models and weights shown in the Intrinsic Value panel, including earnings, cash-flow and asset-based approaches where data permits. It is not a P/E-only calculation.

What share price and 52-week range are shown for Just Dial Ltd?

The stored share price is ₹672.00. Price-data record updated: 24 September 2026, 9:34 pm +05:30. This is not a live quote. The stored 52-week high / low is 879/480; this is a rolling range, not a financial-year range.

How have Just Dial Ltd's revenue and profit changed?

Does Just Dial Ltd's profit convert into cash?

What should I check in Just Dial Ltd's balance sheet?

Reported borrowings were ₹85.00 Cr in Mar 2026. Read this alongside cash, interest costs and repayment obligations; reserves are an accounting balance and are not the same as available cash.

How should I compare Just Dial Ltd's P/E with other stocks?

The stored P/E is 11.00. Compare companies with similar business models, growth, leverage and accounting periods. The industry group on this page is broad, and its average can be affected by outliers. A lower P/E alone does not establish undervaluation.

What could change Just Dial Ltd's intrinsic value estimate?

Changes in sustainable earnings, cash generation, capital needs, debt and share count can change the estimate. The displayed model uses a 12% cost of equity and 4% terminal growth assumption where applicable. Higher discount rates or weaker growth generally reduce discounted values. Compare the individual model values and weights, and verify fresh filings before relying on the result.