IndiaMART Share Price Target 2026, 2027, 2028, 2029, 2030
- Market Cap
- ₹10,680 Cr
- Book Value
- ₹400
- Stock P/E
- 21.6
- Dividend Yield
- 1.69%
- ROE
- 20.7%
- ROCE
- 28.0%
- PEG Ratio
- 1.93
- EV/EBITDA
- 15.0
Fundamentals from Screener.in, as of 5 Aug 2026. Live price via Yahoo Finance.
Technical snapshot
EOD ·IndiaMART InterMESH Ltd closed at ₹1,734.30 on 19 August 2026, down 1.1% on the day, 7.9% below its 50-day average, 35.4% below its 52-week high, with volume at 0.62× its 20-session average.
- RSI 14
- 34.1
- vs 50-day SMA
- -7.9%
- vs 200-day SMA
- -17.4%
- From 52-week high
- -35.4%
- Relative volume
- 0.62×
- 20-day return
- -4.7%
End-of-day prices from exchange-published files (NSE/BSE bhavcopy), updated after market close. Descriptive statistics, not investment advice.
IndiaMART share price today
IndiaMART InterMESH (NSE: INDIAMART) is where Indian business buys from Indian business: the dominant B2B listings marketplace, decades of accumulated supplier profiles and buyer enquiries deep. The network effect is textbook — buyers search where suppliers list, suppliers pay where buyers search — and the model is subscription software in disguise: suppliers pay upfront (deferred-revenue float), 30.3% operating margins, 28% ROCE, net cash, and now a 1.7% dividend.
The wrinkle: paying-supplier growth has stalled, and the stock de-rated from internet-darling multiples to 21.6×. Growth slowed, but the moat did not disappear. Supplier churn is the evidence to watch.
Monopoly at a crossroads
Nobody displaced IndiaMART — B2B discovery in India still starts there, and competitors (Udaan’s pivots, JustDial’s B2C skew) never cracked the listings network. The stall is internal: churn in the small-supplier tier as price hikes met SME stress. The bull path is boring and plausible — churn stabilises, collections (which lead revenue) re-accelerate, and the float keeps compounding at 28% ROCE. Meanwhile the balance sheet holds net cash plus stakes (Busy accounting software and others) the multiple ignores.
Watch-items: paying-supplier net additions (the single metric that decides the story), collections growth, ARPU-versus-churn balance in the bottom tier, and capital allocation of the cash pile.
The numbers
Financial snapshot — 5 August 2026
| Metric | Value |
|---|---|
| Market cap | ₹10,680 Cr |
| P/E (TTM) | 21.6 |
| EV/EBITDA | 15.0 |
| Operating margin | 30.3% |
| ROE / ROCE | 20.7% / 28.0% |
| Debt to equity | 0.00 (net cash) |
| Sales CAGR (5y) | 18.6% |
| Profit CAGR (5y) | 11.2% |
| Promoter holding | 49.1% |
| EPS (TTM) | ₹82.02 |
IndiaMART share price target 2026 to 2030
EPS base ₹82.02 (TTM). Bear: churn persists, growth stays single-digit — 6% growth, multiple at 15×. Base: supplier additions revive modestly — 12% growth at 20×. Bull: re-acceleration re-rates the network — 17% growth at 26×.
From ₹1,775, the base case is ≈ +63% over four and a half years plus the 1.7% yield; the bear is −7%. A monopoly priced for stagnation needs only ordinary execution to improve the outcome, but paid-supplier churn must stabilise for that logic to hold.
Reasons to own IndiaMART (at the right price)
- The B2B discovery monopoly — network effects nobody has cracked in 25 years.
- Subscription economics: upfront collections, deferred-revenue float, 30% margins.
- Net cash plus strategic stakes the market values at zero.
- 22× for a monopoly is stagnation pricing — the moat costs nothing extra.
- A 1.7% yield while the churn cycle mends.
The risks: the supplier stall could be structural SME economics rather than cyclical, AI-native B2B discovery is a long-term wildcard, and capital allocation of the cash needs discipline.
What to weigh at the current price
The franchise still has network effects and a cash-rich balance sheet, but the immediate test is paid-supplier churn. Collections and customer additions need to reaccelerate before operating leverage can carry the valuation case.
FAQ
What is the IndiaMART share price target for 2030? The table above presents bear, base and bull paths through 2030. Each depends on the stated EPS-growth and valuation assumptions; none is a guaranteed outcome.
Why did IndiaMART’s growth stall? Churn in the smallest supplier tier — SMEs squeezed by price increases and their own margins. Enterprise tiers held; the bottom tier’s net additions turned sluggish.
What is the deferred-revenue float? Suppliers pay subscriptions upfront; IndiaMART recognises revenue over the term while investing the cash meanwhile — a Buffett-style float attached to a network effect.
When are IndiaMART’s next results? Check the results calendar and confirm the announced date in the exchange filing.
This article is research and education, not personalised investment advice. We are not SEBI-registered advisers. Price targets are scenario arithmetic, not promises. Do your own research and consult a registered adviser before acting.