IndiaMART Guides for 10–12% Growth, Margins Seen Around 33% in FY27

IndiaMART InterMESH has outlined its financial outlook for FY27, indicating a focus on steady revenue growth and margin stability despite ongoing challenges in its core business, as per the CNBCTV18 news report.

The company continues to face variability in subscriber additions and softer demand from small and medium enterprises. 

At the same time, it is aiming to maintain profitability and strengthen growth drivers across segments.

FY27 Growth and Margin Guidance

The company is targeting revenue growth in the range of 10–12% for FY27, with operating margins expected to remain around 33%, with a possible variation of 1–2%. This guidance reflects a balanced approach between growth and profitability.

Management has reiterated its focus on sustaining double-digit revenue expansion while maintaining operational efficiency, the report added.

Subscriber Trends and SME Demand

IndiaMART has experienced fluctuations in its paid subscriber base over the past two years. Quarterly additions have varied in the range of 1,000–2,000 users, indicating inconsistency in growth momentum.

The company attributes this trend largely to subdued demand from the small and medium enterprise (SME) segment, along with broader macroeconomic and geopolitical uncertainties. While earlier targets indicated 2,000–3,000 quarterly additions, management has refrained from providing a firm full-year outlook.

Collections and Business Stability

On the collections front, the company reported stable performance despite seasonal variations. Collections declined sequentially but registered growth on a year-on-year basis—around 8–9% on a standalone basis and approximately 13% on a consolidated basis.

This suggests underlying resilience in the business despite near-term fluctuations.

Busy Platform Performance

IndiaMART’s accounting software platform, Busy, continues to show steady progress. The platform added approximately 44,000 subscribers during the year and is approaching break-even levels.

Management indicated that Busy is generating positive operating cash flows, with quarterly inflows of ₹5–10 crore and around ₹45 crore annually. The platform is expected to maintain growth of about 25% with improving margins, contributing to overall performance.

Impact of Market Volatility

The company highlighted that mark-to-market adjustments linked to interest rate movements may introduce volatility in quarterly earnings. However, these fluctuations are not expected to materially affect the broader annual performance.

Q4 FY26 Performance Overview

IndiaMART reported a decline in profitability in the fourth quarter. Net profit fell 72.2% year-on-year to ₹50.2 crore. Revenue from operations increased 13.9% to ₹404.3 crore, while EBITDA rose marginally by 1.7% to ₹132.6 crore.

EBITDA margin declined to 32.8% from 36.7% in the previous year, reflecting cost pressures and operational challenges.

Indiamart Intermesh Stock Price Movement

Shares of IndiaMART InterMESH closed at ₹2,098, down ₹5.60 or 0.27% during the session. 

Read More: Avenue Supermarts Q4 FY26 Results: Net Profit Rises 19% YoY to ₹657 Crore; Revenue Jumps 18.9% to ₹17,684 Crore.

Conclusion

IndiaMART’s outlook for FY27 reflects a focus on steady growth and margin stability amid ongoing challenges in its core business environment. 

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