JUSTDIAL

Just Dial share price & financials

Price
₹539.9
Market cap
₹5.7k Cr
Sector
Consumer Services
Calls analysed
2
Latest concall · Q4 FY25 · call held 21 Apr 2025

Just Dial Q4 FY25

Operating Revenue ₹289.2 cr +7%EBITDA ₹86.1 cr +22%EBITDA Margin 29.8% PAT ₹157.6 cr +36%

What went well

  • Operating revenue for Q4 FY25 grew 7% YoY to INR289.2 crores.
  • EBITDA margin for Q4 FY25 stood at 29.8%, with absolute EBITDA growing 21.9% YoY to INR86.1 crores.
  • Operating PBT for Q4 FY25 grew 26.5% YoY to INR70.9 crores.

What to watch

  • Effective tax rate for FY25 was lower at 12% due to deferred tax reversal, expected to normalize to 20-21% in FY26.
  • Delay in finalizing capital allocation policy, including dividend, which is now expected 'most likely next quarter'.
Read the full call →

What Just Dial does

Just Dial runs a local search and business-discovery platform that connects users searching for products and services with local businesses and SMEs, accessed via mobile app, the justdial.com website, and a pan-India voice/telephone helpline. It earns primarily by charging paid advertisers (SMEs) a fixed fee to run search-led advertising campaigns, with premium and non-premium listing packages that determine placement in search results; pricing varies by business category, geography targeted and package type, and advertisers pay upfront or via monthly plans. Add-on products such as own-website creation, digital payments (JD Pay), ratings tools and banners supplement the core listings business. It also operates JD Mart, a separate B2B marketplace platform for wholesale buyers and sellers.

Active listings database
54.7 million listings (period end Mar 2026)
Active paid advertiser campaigns
631,530 (period end Mar 2026)
Quarterly unique visitors
182.4 million (Q4 FY26)
Sales workforce
10,472 employees across tele-sales and feet-on-street sales (period end Mar 2026)
Geographic footprint
Branches in 11 cities with on-the-ground presence across 250+ cities and 11,000+ pin codes pan-India
Ratings & reviews collected
157.1 million (period end Mar 2026)
Headquarters Mumbai, Maharashtra, IndiaEmployees 13,070 (March 31, 2026) Company website

Guidance record · Q4 FY25

what the last two calls moved 6 tracked 0 delivered 0 missed 6 open
  • Top Line Growth open said Q4 FY25 Promised: mid-teens Q4 FY25: Our aspiration is to accelerate our revenue growth from current levels to mid-teens kind of number for FY26.

All 6 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 9.7%, net profit up 3.8% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue285 287 289 298 303 +6%306 +7%307 +6%327 +10%
EBITDA82 87 86 86 87 +6%95 +9%89 +3%87 +1%
Net profit154 131 158 160 119 −23%118 −10%100 −37%166 +4%
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.

Performance −22.1% 1Y

₹500₹600₹700₹800Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26

1Y: ₹854.9 on 10 Sept 2025 → ₹665.55. High ₹860.95 (13 Oct 2025), low ₹490.7 (30 Mar 2026).

Financials, as filed

Revenue grew 17.0% a year over 4 years, FY22 to FY26. Operating margin widened to 29.4%.

Year endingFY22FY23FY24FY25FY26
Revenue₹647 Cr₹845 Cr₹1.0k Cr₹1.1k Cr₹1.2k Cr
Operating profit₹-2 Cr₹85 Cr₹217 Cr₹336 Cr₹357 Cr
Operating margin-0.3%10.1%20.8%29.4%29.4%
Interest₹7 Cr₹8 Cr₹9 Cr₹10 Cr₹9 Cr
Depreciation₹30 Cr₹32 Cr₹46 Cr₹48 Cr₹45 Cr
Net profit₹70 Cr₹163 Cr₹363 Cr₹584 Cr₹497 Cr
Net margin10.8%19.3%34.8%51.1%40.9%
Cash from operations₹39 Cr₹179 Cr₹259 Cr₹311 Cr₹269 Cr
Free cash flow₹25 Cr₹129 Cr₹282 Cr₹305 Cr₹265 Cr
ROCE0.0%2.0%5.0%7.0%7.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹62 Cr₹84 Cr₹84 Cr₹85 Cr₹85 Cr₹85 Cr
Reserves₹1.2k Cr₹3.4k Cr₹3.6k Cr₹3.9k Cr₹4.8k Cr₹5.0k Cr
Borrowings₹63 Cr₹55 Cr₹68 Cr₹85 Cr₹95 Cr₹85 Cr
Other liabilities₹459 Cr₹491 Cr₹601 Cr₹752 Cr₹809 Cr₹853 Cr
Total liabilities₹1.8k Cr₹4.0k Cr₹4.3k Cr₹4.9k Cr₹5.8k Cr₹6.0k Cr
Fixed assets₹138 Cr₹134 Cr₹152 Cr₹147 Cr₹128 Cr₹109 Cr
Capital work in progress₹0 Cr₹0 Cr₹30 Cr₹0 Cr₹0 Cr₹0 Cr
Investments₹1.5k Cr₹3.8k Cr₹4.1k Cr₹4.6k Cr₹5.4k Cr₹5.6k Cr
Other assets₹137 Cr₹101 Cr₹103 Cr₹107 Cr₹242 Cr₹292 Cr
Total assets₹1.8k Cr₹4.0k Cr₹4.3k Cr₹4.9k Cr₹5.8k Cr₹6.0k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, FIIs trimmed −3.28 pp while the public added +2.19 pp. The shareholder count grew 1% to 82,236.

Promoters
74.1%
FIIs
3.2%
DIIs
9.9%
Public
12.8%

Since Jun 2025

  • FIIs −3.28 pp
  • Public +2.19 pp
  • DIIs +1.07 pp

How it drifted, 12 quarters

Over this window FIIs fell from 4.9% to 3.2% — −1.7 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 74.3%, FIIs 4.9%, DIIs 9.4%, Public 11.4%.Dec '23: Promoters 74.3%, FIIs 4.9%, DIIs 8.9%, Public 11.9%.Mar '24: Promoters 74.3%, FIIs 5.3%, DIIs 8.2%, Public 12.2%.Jun '24: Promoters 74.2%, FIIs 7.0%, DIIs 8.9%, Public 10.0%.Sep '24: Promoters 74.2%, FIIs 7.8%, DIIs 8.4%, Public 9.7%.Dec '24: Promoters 74.2%, FIIs 7.3%, DIIs 8.3%, Public 10.2%.Mar '25: Promoters 74.2%, FIIs 6.6%, DIIs 8.9%, Public 10.4%.Jun '25: Promoters 74.2%, FIIs 6.5%, DIIs 8.8%, Public 10.6%.Sep '25: Promoters 74.2%, FIIs 5.9%, DIIs 9.1%, Public 10.9%.Dec '25: Promoters 74.2%, FIIs 6.0%, DIIs 9.0%, Public 10.9%.Mar '26: Promoters 74.2%, FIIs 4.8%, DIIs 9.3%, Public 11.7%.Jun '26: Promoters 74.1%, FIIs 3.2%, DIIs 9.9%, Public 12.8%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Just Dial above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Reliance Retail Ventures Limited 63.83%unchanged
Venkatachalam Sthanu Subramani 7.61%unchanged
Quant Mutual Fund - Quant Small Cap Fund - 2 Mutual fund4.43%unchanged
Anita Mani 2.26%unchanged
Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund Mutual fund1.98%unchanged
DSP Small Cap Fund Mutual fund1.82%unchanged
Eshwary Krishnan 0.28%unchanged
Manasi Iyer 0.16%unchanged
Ramani Iyer 0.00%unchanged
V Krishnan 0.00%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in JUSTDIAL

Filings to Aug 2026

0 new, 0 added, 0 trimmed, 0 sold out — net +0.00 L shares (+0.0%).

Held by funds
₹120 Cr
1 schemes
Biggest holder
Nippon India Small Cap Fund
₹120 Cr · 0.1% of that fund
SchemeHoldingLast month
Nippon India Small Cap Fund Nippon India Mutual Fund₹120 Crheld

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

0 added, 0 trimmed — net 0 shares (+0.0%)

Funds are sitting on
-32%
vs est. average cost
Held by funds
₹120 Cr
1 schemes · ≈ 1.6% of the company

Shares held by these funds +3%

Aug '23 16.90 L shares Jul '26

What the price assumes

Attractive

To justify its price of ₹666, this stock must grow earnings at 8% every year for 7 years. Our analysis caps realistic growth at ~63%. At that growth it is worth ₹8856 — upside of 1231%.

Growth the price implies
8.3% a year
for 7 years, fading to 4%
It has actually compounded at
63.2% a year
net profit, FY22–FY26 · EPS 62.7%
The gap
-0.5 pp
1231% downside if it only repeats history
Price today ₹665.55 Value at the reference growth ₹8,855.89

Change the assumptions yourself →

Learn to analyse Just Dial

Guides on how to read this kind of business and the numbers that matter.