IndiaMART InterMESH Reports Mixed Q2 Results with Revenue Growth and Profit Decline

IndiaMART InterMESH Limited , a leading B2B marketplace, has released its financial results for the second quarter ended September 30, 2025, showcasing a mixed performance with revenue growth but a decline in profitability.

Revenue Growth

The company reported a consolidated revenue from operations of Rs 3,910.00 million for Q2, marking a 12.5% increase from Rs 3,477.00 million in the same quarter last year. This growth was primarily driven by the company's main segment, Web and related services, which contributed Rs 3,603.00 million to the quarterly revenue.

Profit Decline

Despite the revenue growth, IndiaMART experienced a significant decrease in its consolidated net profit:

Metric	Q2 FY2026	Q2 FY2025	YoY Change
Net Profit	827.00	1,351.00	-38.8%
Basic EPS	13.77	22.54	-38.9%

The decline in profitability can be attributed to increased expenses and a challenging market environment.

Segment Performance

IndiaMART operates in two main segments:

Web and related services: Generated revenue of Rs 3,603.00 million
Accounting Software services: Contributed Rs 307.00 million to the quarterly revenue

The Accounting Software services segment showed promising growth, nearly doubling its revenue compared to the same quarter last year.

Half-Year Performance

For the first half of FY2026:

Revenue from operations reached Rs 7,631.00 million
Net profit stood at Rs 2,362.00 million

Balance Sheet Highlights

As of September 30, 2025:

Total assets: Rs 41,277.00 million
Total equity: Rs 21,377.00 million
Cash and cash equivalents: Rs 279.00 million

Employee Stock Options

During the first half of FY2026, the company granted 406,730 Stock Appreciation Rights (SAR) to eligible employees at a weighted average share price of Rs 2,245.00 per share, with an exercise price of Rs 10.00 each, vesting over a period of 5 years.

Management Commentary

While the company did not provide specific management comments in the released data, the financial results suggest that IndiaMART is focusing on revenue growth and diversification of its service offerings, particularly in the Accounting Software segment.

The decline in profitability amid revenue growth indicates potential challenges in cost management or increased investments for future growth. Investors and analysts will likely be keen to understand the company's strategies for improving bottom-line performance in the coming quarters.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+2.25%	-3.54%	-3.89%	+1.17%	+2.17%	-0.86%

IndiaMART InterMESH Limited , a leading B2B e-commerce platform, has initiated a postal ballot to seek shareholder approval for two significant resolutions. The company aims to strengthen its leadership team and enhance its technological capabilities through these proposed changes.

Appointment of New Independent Director

The first resolution proposes the appointment of Ms. Vasuta Agarwal as an Independent Director for a three-year term, from July 18, 2025, to July 17, 2028. Ms. Agarwal brings over 18 years of experience in the digital industry and strategy consulting domain to the board.

Ms. Agarwal's credentials include:

A Bachelor's degree in Engineering from BITS Pilani
An MBA from the Indian Institute of Management, Bangalore
Previous role as Chief Business Officer at InMobi
Recognition in various industry lists, including Economic Times' 40 Under Forty and Campaign Asia's Women to Watch

Her appointment is expected to provide valuable insights into digital and tech-driven business scaling, supporting IndiaMART's strategic decision-making and expansion initiatives.

Related Party Transaction for Key Technology Role

The second resolution seeks approval for a related party transaction involving the appointment of Mr. Amit Agarwal as Vice President for Product & Technology. Mr. Agarwal, son of Managing Director and CEO Dinesh Chandra Agarwal, is set to receive an annual remuneration of up to Rs. 84.00 lakhs.

Mr. Amit Agarwal's qualifications include:

A Bachelor of Science in Mechanical Engineering with a minor in Computer Science from Georgia Institute of Technology
A Master of Science in Robotic Systems Development from Carnegie Mellon University
Specialization in AI and Robotics
Over 8 years of experience with HRL Laboratories and Cashify

His appointment aims to accelerate IndiaMART's AI-driven initiatives and contribute to the company's next phase of growth.

Voting Process and Timeline

The company has engaged the National Securities Depository Limited (NSDL) to facilitate the remote e-voting process. Key dates for shareholders to note:

Event	Date
Cut-off date for eligible shareholders	July 25, 2025
E-voting period	July 31, 2025 (9:00 AM IST) to August 29, 2025 (5:00 PM IST)

IndiaMART has appointed Mr. Devesh Kumar Vasisht of M/s DPV & Associates LLP as the scrutinizer to ensure a fair and transparent voting process.

These proposed appointments reflect IndiaMART's commitment to enhancing its leadership team with diverse expertise in technology and digital business strategies, potentially positioning the company for further growth and innovation in the B2B e-commerce sector.