INDIAMART Indiamart Intermesh Q2 FY27 results (Jul–Sep 2026) and concall
IndiaMART grew revenue 10% YoY to Rs. 429 crores in Q2 FY27 with a 37% EBITDA margin. Management says the margin is high because it is deliberately holding back sales investment until Silver churn improves. Collections (+9%) and deferred revenue (+16%) were solid, but the paying supplier base shrank by 615 and buyer enquiries remain 10-15% below peak because AI-driven search is diverting traffic and the company chose to keep proprietary data from LLMs. BUSY remains the faster-growing part, with revenue up 27% YoY, and management expects billing growth to return to 20-30% from Q3. Management ke
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What they filed
Q2 FY27: revenue up 9.7%, net profit up 9.6% against the same quarter last year.
| Line item | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 354 | 355 | 372 | 391 | 402 +14% | 404 +14% | 414 +11% | 429 +10% |
| EBITDA | 124 | 119 | 119 | 116 | 120 −3% | 120 +1% | 132 +11% | 144 +24% |
| Net profit | 121 | 181 | 154 | 83 | 188 +55% | 50 −72% | 172 +12% | 91 +10% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Inve summary of a publicly available earnings call transcript; see how call summaries are prepared. Not investment advice.
