Online listings for jobs, cars, B2B suppliers and local businesses, and marketplaces for home services (Naukri, CarWale, IndiaMART, Just Dial, Urban Company).
Info Edge (India)Operator · HighListed
IndiaMART InterMESHOperator · HighListed
Just DialOperator · HighListed
CarTrade TechOperator · HighListed
Urban CompanyOperator · HighListed
IndiaMART InterMESH (INDIAMART)
India's largest B2B marketplace - small businesses pay subscriptions to list products and get buyer leads
Price
₹1,547
snapshot 6 Nov 2026
Strengths
Dominant B2B listing platform with high operating margins and upfront subscriptions
Net-cash, with investments in SaaS (Busy accounting software)
Risks
Paying-supplier growth has been slow; churn among smaller subscribers
Competition from WhatsApp-led discovery and ONDC
Key stats — company snapshot as of 6 Nov 2026
Mkt Cap
₹9,304 Cr
Stock P/E
18.6x
Div Yield
1.94%
ROCE
28.0%
ROE
20.7%
P/B
4.0x
Revenue growth
+13.0%FY26
Profit growth
−13.8%FY26
Net margin
30.3%FY26
1Y vs Nifty
−35 ptsNifty −1.9%
Revenue, ₹ Cr (5-yr) — company table
753FY22
985FY23
1,197FY24
1,388FY25
1,569FY26
Stock price return · as of 6 Nov 2026
1Y price return
−37%
3Y CAGR
−16%
5Y CAGR
−16%
Trend9th percentile
52-week range as of 6 Nov 2026 vs snapshot price · 39% below its high
Market cap, ratios, CAGR and revenue: company table snapshot as of 6 Nov 2026 (the same figures on every page). Price: snapshot as of 6 Nov 2026. Not investment advice.
Where it fits
Connects buyers with sellers - recruiters with job seekers, car buyers with dealers, businesses with suppliers, households with service professionals - and charges the paying side subscriptions, listing fees or a commission. Urban Company goes further: it trains, equips and manages the professionals.
Why it matters
Classifieds are the most profitable corner of Indian internet: network effects make the No. 1 portal in each vertical very hard to displace, cash comes in upfront as subscriptions, and there is little inventory or delivery cost.
Where the value pool sits
Mature leaders (Naukri, IndiaMART) earn 35-50%+ operating margins on subscriptions. Car classifieds earn from dealer subscriptions and auctions (CarTrade's Shriram Automall). Services marketplaces earn a 15-25% commission but carry training and quality costs, and are near breakeven.
Key drivers
Formal hiring and new sectors (GCCs) for recruitment portals
SME digitisation for B2B listings
Used-car financing and auctions
New home-service categories (Insta Help, water purifiers, smart locks)
Potential bottlenecks
Hiring cycles in IT services set Naukri's billings
Paying-customer growth among small businesses is slow (IndiaMART)
Quality control and worker retention for services (Urban Company)