Slides
Page 1
Q U A RT E R E N D E D D E C E M B E R 3 1 , 2 0 2 5 Make Doing Business Easy IndiaMART InterMESH Ltd. India’s largest online B2B marketplace connecting buyers with suppliers Earnings Presentation : Map not to scale
Page 2
IndiaMART InterMESH Ltd Table of Contents H I G H L I G H T S – Q 4 & F Y 2 4- 25 4Q U A R T E R H I G H L I G H T S – Q 3 F Y 2 6 I N D I A M A R T B U S I N E S S O V E R V I E W F I N A N C I A L P E R F O R M A N C E B U S Y I N F O T E C H & L I V E K E E P I N G T E C H N O L O G I E S E S G 9 34 46 52 S TA N D A L O N E O P E R AT I O N A L P E R F O R M A N C E 31 A P P E N D I X 60
Page 3
IndiaMART InterMESH Ltd Safe Harbour Bamboo Woods This presentation and the accompanying slides (the “presentation”) contain selected information about the activities of IndiaMART InterMESH Limited Limited (the “Company”) and its subsidiaries and affiliates (together, the “Group”) as at the date of the presentation. It does not purport to present a comprehensive overview of the Group or contain all the information necessary to evaluate an investment in the Company. This presentation is for information purposes only and is not a prospectus, disclosure document or other offering document under any law, nor does it form part of, and should not be construed as, any present or future invitation, recommendation or offer to purchase or sell securities of the Group or an inducement to enter into investment activity in any jurisdiction, including the United States. No part of this presentation nor the fact of its distribution should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. If there is any subsequent offering of any security of the Company, it will be made pursuant to a separate and distinct offering documentation. Any decision to purchase securities in the context of an offering of securities (if any) should be made solely on the basis of information contained in the offering documentation published in relation to such offering. This presentation is being communicated to selected persons who have professional experience in matters relating to investments for information purposes only and does not constitute a recommendation regarding any securities of the Group. Other persons should not rely or act upon this presentation or any of its contents. The distribution of this presentation in certain jurisdictions may be restricted by law and recipients should inform themselves about and observe any such restrictions. This presentation is not a prospectus, a statement in lieu of a prospectus, an offering circular, an advertisement or an offer document under the Companies Act, 2013, and the rules made thereunder, as amended, the Securities and Exchange Board of India ( Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, or any other applicable law in India. This presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company does not make any representation or warranty, express or implied, as to and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information contained herein, or any statement made in this presentation. The presentation has not been independently verified. The Company, each member of the Group and their resp ective affiliates, directors, employees, advisers and representatives do not accept any liability for any facts made in or omitted from this presentation. To the maximum extent permitted by law, the Company, each member of the Group and their respective affiliates, directors, employees, advisers and representatives disclaim all liability and responsibility (including without limitation any liability arising from negligence or otherwise) for any direct or indirect loss or damage, howsoever arising, which may be suffered by any recipient through use of or reliance on anything contained in or omitted from or otherwise arising in connection with this presentation. The information contained in, and the statements made in, this presentation should be considered in the context of the circum stances prevailing at the time. There is no obligation to update, modify or amend such information or statements or to otherwise notify any recipient if any information or statement set forth herein, changes or subsequently becomes inaccurate or outdated. The information contained in this document is provided as at the date of this document and is subject to change wit hout notice. No one has been authorized to give any information or to make any representations other than those contained in this presentation, and if given or made, such information or representations must not be relied upon as having been authorized by the Company or their respective affiliates. The information in this presentation does not constitute financial advice (nor investment, tax, accounting or legal advice) and does not take into account an investor’s individual investment objectives, including the merits and risks involved in an investment in the Company or its securities, or an investor’s financial situation, tax position or particular needs. Past performance information in this presentation should not be relied upon as an indication of (and is not an indicator of) future performance. This presentation contains “forward-looking statements”. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company's control that could cause the actual results, performance or achievements of any member of the Group to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Similarly, statements about market and industry trends are based on interpretations of current market conditions which are also subject to change. Attendees are cautioned not to place undue reliance on forward looking statements. No representation, warranty or assurance (express or implied) is given that the occurrence of the events expressed or implied in any forward-looking statements in this presentation will actually occur. This presentation contains data sourced from and the views of independent third parties. In replicating such data in this document, the Company does not make any representation, whether express or implied, as to the accuracy of such data. The replication of any third-party views in this document should not necessarily be treated as an indication that the Company agrees with or concurs with such views. The securities of the Company have not been and will not be registered under the U.S. Securities Act of 1933 (as amended, the “U .S. Securities Act”) or any state securities laws in the United States and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transact ion not subject to, the registration requirements of the U.S. Securities Act and in accordance with any applicable United States state securities laws. The Company does not intend to conduct a public offering of securities in the United States. You confirm that you are either (i) both a “qualified institutional buyer” as defined in Rule 144A under the U.S. Securities Act and a “qualified purchaser” as defined under the U.S. Investment Company Act of 1940 in reliance upon section 3(c)(7) of the U.S. Investment Company Act of 1940 , or (ii) a non-U.S. Person outside the United States. By receiving this presentation, you are agreeing to be bound by the foregoing and below restrictions. Any failure to comply with these restrictions may constitute a violation of applicable securities laws. Unless otherwise stated, all the amounts in the presentation have been rounded off to INR crore. Welding Machine IndiaMART InterMESH Ltd
Page 4
IndiaMART InterMESH Ltd Solar Water Heater Highlights Q3FY26
Page 5
IndiaMART InterMESH Ltd 5 Q3 FY26 Results Overview (Consolidated) Revenue from Operations 402 Cr Deferred Revenue 1,775 Cr Cash Flow from Operations 129 Cr EBITDA 134 Cr Collections 426 Cr Net Profit 188 Cr 33% Margin 3% YoY 35% Margin 56% YoY 30% of Collections 13% YoY 11% YoY1 15% YoY1 17% YoY1 1) YoY growth excludes reclassification impact due to change in the channel partner payout structure of Busy Infotech from Nov’ 24
Page 6
IndiaMART InterMESH Ltd 6 Q3 FY26 Results Overview (Standalone) Revenue from Operations 368 Cr Deferred Revenue 1,654 Cr Cash Flow from Operations 128 Cr EBITDA 136 Cr Collections 390 Cr Net Profit 206 Cr 37% Margin 6% YoY 41% Margin 65% YoY 33% of Collections 15% YoY 9% YoY 14% YoY 16% YoY
Page 7
IndiaMART InterMESH Ltd 7 Active Buyers1 42 Mn Live Product Listings 128 Mn Indian Supplier Storefronts 8.7 Mn Annualised Revenue Per Paying Supplier ₹ 67 K Unique Business Enquiries 28 Mn Paying Suppliers 221 K 3% YoY 6% YoY 2% YoY 6% YoY 11% YoY 4% YoY Q3 FY26 Operational Performance (Standalone) 1) Last 12 Months 1,000 paying suppliers declined this quarter
Page 8
IndiaMART InterMESH Ltd Cash Flow from Operations 6 Cr EBITDA 5 Cr Net Profit 6 Cr Q3 FY26 Results Overview (Busy) Revenue from Operations 32 Cr Deferred Revenue & Advances 112 Cr Billing 33 Cr 50% YoY1 28% YoY1 56% YoY1 8 1) Billing reflects invoices issued net of trade discounts and GST. From Nov’24, discounts are reclassified as expenses due to a change in the channel partner payout structure. YoY growth excludes reclassification impact
Page 9
IndiaMART Business Overview IndiaMART InterMESH Ltd Laser Cutting Machine
Page 10
IndiaMART InterMESH Ltd 10 Traditional Marketplace to Online Marketplace Offline Discovery Online Discovery, Anytime, Anywhere Post RFQ Additional services for business enablement Conversational commerce CRM – Lead Manager Accounting Tax & Invoicing Business enablement - SaaS
Page 11
IndiaMART InterMESH Ltd 11 India’s Largest Online B2B Marketplace B2B marketplace is a growing market 2-way discovery marketplace Subscription based revenue model with negative working capital Behavioral data driven algorithmic matchmaking Strong network effects Diversified across categories & geographies
Page 12
IndiaMART InterMESH Ltd Services that Empower Businesses 12 Buyers Diverse set of products & suppliers Price discovery Product Specifications RFQ – BuyLead Web storefront Conversational commerce Multimodal Search CRM – Lead Manager Accounting solutions Business enablement - SaaS Logistics SaaS Suppliers AI driven matchmaking Cloud Telephony – PNS Reviews & Ratings
Page 13
IndiaMART InterMESH Ltd Pharmaceutical Drugs, Medicines, Vitamins & Other Products Cosmetics, Toiletries & Personal Care Products Scientific, Measuring, Laboratory Instruments & Supplies Automobiles, Spare Parts & Accessories 13 Well Diversified Across ~98000 Categories Industrial Plants, Machinery & Equipment Construction & Building Raw Material Consumer Electronics & Household Appliances Apparel, Clothing & Garments Packaging Material, Supplies & Machines Industrial & Engineering Products, Spares & Supplies Construction Machinery, Building Supplies & Services Mechanical Components & Parts Vegetables, Fruits, Grains, Dairy & Other FMCG & Groceries Housewares, Home Appliances, Household Decorations & Consumables Furniture, Furniture Supplies & Furniture Hardware Chemicals, Dyes & Allied Products Operation Theater, Medical Imaging & Pathology & Hospital Supplies Kitchen Containers, Utensils, Cookware, & Other Products Fertilizers, Seeds, Agro Machines, Poultry & Animal Husbandry Sports Goods, Games, Toys & Accessories Electronics Components & Supplies Gifts, Crafts , Antique & Handmade Decorative Tools, Machine Tools, Power Tools & Hand Tools 9% 7% 6% 5% 5% 5% 4% 4% 3% 3% 3% 2% 2%2% 2% 2% 2% 2% 2% 2% 2% 1% 1% Electrical Equipment & Supplies 5% 57 Industries 128 Mn Products1) % above are for total paying supplier, as on December 31, 2025
Page 14
IndiaMART InterMESH Ltd End-To-End Value Chain Discovery – Water Treatment Plant 14 Components Final ProductRaw Material Machinery RO Controller s Membrane Pump Extrusion Machine Lathe Machine Die Casting Machine Housing Silica Sand Activated Carbon Stainless Steel High-Density Polyethylene Pressure Gauge RO Antiscalant Welding Machine
Page 15
IndiaMART InterMESH Ltd 15 Well Diversified Across Geographies Buyers1 % Metro Cities (8) Delhi NCR, Mumbai, Bengaluru, Hyderabad, Kolkata, Ahmedabad, Pune & Chennai Tier II Cities (69) Population > 500,000, excluding the cities covered under metros Rest of India (~4,000) Population <500,000 Paying Suppliers % 1) Basis aggregate buyers who have submitted enquiries during the last 5 years 2) Figures as on March 31, 2025 3) Population as per 2011 census Metro Cities 29% Tier II Cities 24% Rest of India 47% Metro Cities 53% Tier II Cities 27% Rest of India 19% 15 ~ 5,000 Sales & Servicing team ~120 Channel Sales Partner Locations
Page 16
IndiaMART InterMESH Ltd Buylead Consumption 16 2-way Discovery Marketplace Supplier Submit RFQ Buyer Verification & Enrichment CRM – Lead Manager Cloud Telephony Call Chat CRM – Lead Manager Premium Number Service
Page 17
IndiaMART InterMESH Ltd CRM – Lead Manager & Conversational Commerce 17 ~142mn Replies1 & Callbacks2 during Q3 FY26 1) Total Replies via desktop, Mobile site, Email & App 2) Total Callbacks via Mobile site & App Add Notes, Set Reminders Ratings AI-based Smart Reply Reviews & Ratings Call Option & Alerts AI-based Smart Reply AI-based Smart Reply Direct Buyer Callback AI-based Smart Reply AI-based Smart Reply One Tap Product Sharing 4.0
Page 18
IndiaMART InterMESH Ltd 18 How RFQ / BuyLead Works Buyer Supplier Interaction through CRM – Lead Manager Buyer Submits Industry Specific RFQ AI-driven Enrichment & Matchmaking RFQ Selection by Supplier
Page 19
IndiaMART InterMESH Ltd 19 Behavioral Data Driven Algorithmic Matchmaking Supplier Preferences Buyer Requirement LocationProduct Price Quantity AI/ML Algorithm
Page 20
IndiaMART InterMESH Ltd 20 Leveraging AI: Enhancing User Experience Product Category Intelligence Data Insights & Analytics Content Moderation Systemic User Verification Contextual User Experience Multimodal & Multilingual Search PROPRIETARY BEHAVIORAL DATA Content Quality Experience Trusted Platform
Page 21
IndiaMART InterMESH Ltd Key Competitive Strengths – Brand & Network Effect 21 • 42 Mn Active Buyers2 • 59% Repeat Buyers3 • 39% Suppliers are Buyers • 4.8 Play Store Rating • 128 Mn Listed Products • ~98K Categories • Product specifications • Pricing, photos & videos • 8.7 Mn Suppliers • 221K Paying Supplier • Multi-channel sales & service • Review & Ratings • 28 Mn Unique Business Enquiries1 • 142 Mn Replies & Callbacks1 • Call Responsiveness • RFQ selection Figures as of December 31, 2025 1) Figures for Q3 FY26 2) Last 12 months 3) Calculated for 90 days PROPRIETARY BEHAVIORAL DATA Product Discovery SupplierBuyers Enquiries & Conversations
Page 22
IndiaMART InterMESH Ltd 22 ROI-driven, Subscription Based Revenue Model & RFQ Quota Platinum 1) ARPU represents Revenue from operations for the current quarter divided by Paying supplier at period end & the same has been multiplied by 4 to represent annualised run-rate 2) RFQ Quota:- Silver Monthly: Daily - 1 Weekly - 7; Silver Annual/MYR: Daily - 1 Weekly - 10; Gold: Daily - 2 Weekly - 20 to 30; Platinum: Daily - 1 to 4 Weekly - 30 to 100 Free Suppliers Gold Silver Monthly Silver Annual / Multi Year Platinum Freemium model Priority Listing RFQ Selection Credits - BuyLead CRM – Lead Manager Web Storefront Key Offerings Buyer Profile Cloud Telephony – PNS Paying suppliers ARPU1 (Rs.) % of Revenue Top 1% ~2K 1,103K 17% Top 10% ~22K 333K 50% 221K 67K 100%
Page 23
IndiaMART InterMESH Ltd Enterprise Solutions – Partnering Across a Wide Spectrum 2323 1) All trademarks, logos & brand names are the property of their respective owners. Use of any third-party names, trademarks & brands are for reference purposes only
Page 24
IndiaMART InterMESH Ltd Constant Innovation & Technology Focus 24 2022 Accounting Software 2010 Cloud Telephony – PNS 2015 Behavioral Matchmaking 2018 CRM – Lead Manager 2009 Request for Quotation – BuyLead 2013 Price Discovery 2023 AI Chatbot 2019 Voice & Multi- Language Search Photo Search 2024 2025 AI Voice Agents
Page 25
IndiaMART InterMESH Ltd Strategic Outlook 25 Core SME Business • Keep expanding buyer & supplier network Brands Strategy • Focus on large & medium enterprises Improve Engagement • Commerce enablement • Fintech & accounting • Business enablement SaaS ₹
Page 26
IndiaMART InterMESH Ltd Journey Towards Commerce & Business Enablement Products Specifications & Prices Photos / Videos Enablement of Commerce Discovery Reviews & Ratings Buyer & Supplier Negotiations Customer History & Reminder Quotations & Invoicing Conversation Business Enablement Accounting / Invoicing Tax Compliance Inventory Management Payroll Order Management Distributor Management Commerce Credit Facilitation Logistics / Tracking Business Enablement Receivables Management Procurement Management 26
Page 27
IndiaMART InterMESH Ltd 27 Accounting - Strategic Fit for IndiaMART • Business Necessity • High Customer Stickiness • Large & Growing Market • Subscription based Revenue Model Accounting Software Access to SKU Level Data Accurate Pricing Accurate Inventory Access to New Companies Invoice Discounting / Transaction Financing Supplier Recommendations Represents opportunities available for IndiaMART 2727 ~ Rs. 725 crores invested in Accounting space
Page 28
IndiaMART InterMESH Ltd Investments in Accounting ~ 1 Mn businesses Small Medium Large Mobile First Cloud Traditional On-Premise 28.7%* 26%* 100%* Service Delivery Model 1) Source Media reports 2) All trademarks, logos & brand names are the property of their respective owners. Use of any third-party names, trademarks & brands are for reference purposes only. Client Enterprises Served ~ 6 Mn1 businesses on Tally 100%* Provide mobile & cloud functionality to Tally users *IndiaMART Holding 28
Page 29
IndiaMART InterMESH Ltd 29 IndiaMART Holding Other Strategic Investments 22.2% Logistics Tracking 10% ID Verification & Fraud Detection Distribution & Salesforce Management 32.5%1 Invoice Discounting & Factoring 9.6% 21% Vertical Commerce Autonomous Procurement Platform 26.2% Transport Management 38% Inventory & Warehouse Management 26% 10% HR Tech Legal Tech Platform 15.4% 13% Supply Chain Solutions Note: 1) Includes 1.2% holding in Bizom, acquisition of which was concluded in Jan’26
Page 30
IndiaMART InterMESH Ltd Investee Company Brand Name (clickable link) Total Investment1 (in Crore) Shareholding Aggregate (%) Subsidiaries 1 Busy Infotech 508 100.0% 2 Livekeeping Technologies 962 100.0% Strategic Investments 1 Fleetx Technologies 161 22.2% 2 IB MonotaRO 118 21.0% 3 Simply Vyapar Apps 108 28.7% 4 Baldor Technologies 90 10.0% 5 Mobisy Technologies 723 32.5%3 6 Mynd Solutions 53 9.6% 7 Truckhall 38 38.0% 8 Agillos E-Commerce 26 26.2% 9 Edgewise Technologies 18 26.0% 10 Zimyo Consulting 17 10.0% 11 Adansa Solutions 14 26.0% 12 Legistify Services 9 15.4% 13 Instant Procurement Services 1 13.0% fleetx.io - Crunchbase Company Profile Funding Investment Portfolio 30 bizomlogo.png A picture containing logo Description automatically generated Graphical user interface Description automatically generated Icon Description automatically generated Logo Description automatically generated Zimyo | HR and Payroll Software | Best Employee Experience A picture containing text, sign Description automatically generated 1) At Cost 2) Includes ₹ 9 Cr investment, concluded in Jan’26 3) Includes acquisition of 1.2% stake for ₹ 5 Cr in Bizom, concluded in Jan’26
Page 31
Operational Performance (Standalone) IndiaMART InterMESH Ltd Excavator
Page 32
IndiaMART InterMESH Ltd Operational Metrics 32 Q2FY26 Q3FY26 YoY Particulars FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 CAGR 219 225 9% Registered Buyers 39 60 83 102 125 149 170 194 211 23% 42 42 (2%) Active Buyers - Last 12 Months 13 25 29 30 35 38 37 39 43 16% 31 28 4% Unique Business Enquiries 31 53 73 74 96 97 88 93 106 17% 99 87 (17%) Business Enquiries Delivered 157 290 449 464 610 550 479 520 458 14% 8.6 8.7 6% Indian Supplier Storefronts 3.2 4.7 5.5 6.0 6.5 7.1 7.5 7.9 8.4 13% 124 128 11% Live Product Listings 33 50 61 67 72 83 95 108 119 17% 222 221 3% Paying Suppliers* 96 108 130 147 152 169 203 214 217 11% 65 67 6% ARPU* 32 37 38 42 44 44 46 53 61 8% 326 333 9% Top 10% ARPU* 130 150 155 174 181 194 214 247 289 11% 6,477 6,353 6% Employees (Nos) 2,713 2,539 2,915 3,150 2,701 3,672 4,583 5,384 6,102 11% (Figures in Millions, unless otherwise mentioned) * Figures in Thousand
Page 33
IndiaMART InterMESH Ltd -4 2 1 3 -1 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 24 12 22 17 5 17 34 12 2 FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 33 Paying Suppliers Net Addition/ Reduction Yearly trends Quarterly trends 3% YoY 11% CAGR 169 203 152147 130 10896 (Figures in Thousand) 214 222217 214 217 218 1) Excludes a one-time benefit of around 1.2K due to simplification of onboarding process for silver subscription packages. Total net additions for Q2FY26 are 4K ARPU38 4237 44 4432 46 6353 62 64 65 6761 221 1
Page 34
Power Loom IndiaMART InterMESH Ltd Financial Performance Consolidated Section
Page 35
IndiaMART InterMESH Ltd 35 Financial Performance – Consolidated (₹ in Crore) Q2FY26 Q3FY26 YoY Financial Metrics FY20 FY21 FY22 FY23 FY24 FY25 CAGR 391 402 13% Revenue from Operations 639 670 753 985 1,197 1,388 17% 10 135 Other Income 69 87 112 181 211 272 401 537 35% Total Income 707 756 866 1,166 1,407 1,661 19% 171 182 19% Manpower Cost 267 205 268 425 544 601 18% 90 85 Other Expenses1 203 136 178 293 321 265 261 267 24% Total Expenses 470 341 446 718 865 866 13% 130 134 (3%) EBITDA 169 328 308 268 331 523 25% 33% 33% EBITDA Margin(%) 26% 49% 41% 27% 28% 38% 57 81 Others2 90 135 122 165 208 245 83 188 56% Net Profit 147 280 298 284 334 551 30% 21% 35% Net Profit Margin(%) 21% 37% 34% 24% 24% 33% 14 31 55% EPS3 (Rs.) 26 48 49 46 55 92 29% 406 426 17% Collections from Customers 738 711 934 1,219 1,474 1,626 17% 114 129 13% Cash flow from Operations 261 323 402 476 559 623 19% 28% 30% % of Collections 35% 45% 43% 39% 38% 38% 1) Includes Outsourced Sales Cost and Other Operating Expense 2) Others include – Depreciation, Amortization, Finance Cost, Exceptional Item, Tax Expense & Associates Loss 3) EPS has been adjusted in all years & quarters to give effect of bonus issuance in Q1FY24
Page 36
IndiaMART InterMESH Ltd Abridged Balance Sheet - Consolidated 36 (₹ in Crore) Q2 FY26 Q3 FY26 Particulars FY20 FY21 FY22 FY23 FY24 FY25 52 47 Fixed Assets 1 86 65 56 99 82 61 454 454 Goodwill 2 - - - 454 454 454 62 62 Other Assets 3 77 44 52 51 48 67 2,874 3,051 Cash & Investments 931 2,365 2,419 2,335 2,340 2,886 685 752 Strategic Investments 30 37 421 512 524 665 4,128 4,366 Total Assets 1,123 2,511 2,949 3,445 3,449 4,134 2,138 2,340 Capital & Reserves 275 1,611 1,874 2,059 1,736 2,185 1,750 1,775 Deferred Revenue 4 685 726 907 1,162 1,440 1,678 71 74 Tax Liabilities - 21 16 24 48 53 28 26 Lease Liabilities 77 63 56 46 41 33 141 152 Other Liabilities 5 86 90 96 154 184 185 4,128 4,366 Total Liabilities 1,123 2,511 2,949 3,445 3,449 4,134 1) Includes fixed assets, intangible assets & right of use assets 2) On account of acquisition through business combination which includes Rs. 412 cr of Busy Infotech & Rs. 42 cr of Livekeeping Technologies 3) Includes security deposits, recoverable from payment gateway, prepaid expenses and remaining assets combined 4) Includes customer advances 5) Includes provisions & payables, statutory liabilities & other financial liabilities
Page 37
IndiaMART InterMESH Ltd Cash Generation & Utilization 37 Particulars FY20 FY21 FY22 FY23 FY24 FY25 9M FY26 Opening Cash & Treasury Investments 685 931 2,365 2,419 2,335 2,340 2,886 Cash flow from operating activities 261 323 402 476 559 623 404 Cash flow from investing activities1 (6) 14 (273) (331) 32 (18) 6 (i) Non-Operating Income2 25 21 127 255 71 135 60 (ii) Capital expenditure3 - 3 (4) (16) (14) (8) (7) (iii) Strategic Investments (31) (10) (395) (570) (25) (144) (47) Cash Flow from Financing Activities (51) 1,038 (58) (143) (695) (148) (337) (i) Proceeds from issue of shares4 2 1,052 0 0 0 0 0 (ii) Other financing activities5 (20) (12) (13) (13) (14) (28) (37) (iii) Capital distributed to Shareholders6 (33) (1) (46) (130) (681) (120) (300) ∆ in Fair Value Gain on Treasury Investments 42 60 (18) (85) 109 89 91 Closing Cash & Treasury Investments 931 2,365 2,419 2,335 2,340 2,886 3,051 (₹ in Crore) 1) Adjusted for change in Investments, FDR, Inter corporate deposit & others during the period 2) Includes realized income from treasury investments & net investments in FDRs, Inter Corporate deposits & gain from sale of stake in associates and other investments 3) Includes purchase & sale of property, plant and equipment & other intangible assets & refundable security deposit for listing on stock exchange 4) Includes proceeds from issue of equity shares on exercise of ESOPs & qualified institutions placement 5) Includes cash flow from repayment of lease liability, interest expense & purchase of further shares in subsidiary 6) Includes dividend paid & buyback inclusive of tax ~₹1,300 Crore Capital Returned to Shareholders
Page 38
IndiaMART InterMESH Ltd 38 Collections from Customer - Consolidated (₹ in Crore) Quarterly trends 171 223 222 318 254 264 283 418 321 337 332 484 366 356 363 541 430 406 426 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 1) Fourth Quarter of the year has traditionally been the best quarter in terms of collections from customer for that financial year
Page 39
IndiaMART InterMESH Ltd 39 Legal Entity View (₹ in Crore) Financial Metrics FY24 FY25 Q1FY26 Q2FY26 Q3FY26 YoY Revenue from Operations 1,197 1,388 372 391 402 13% IndiaMART 1,139 1,320 346 360 368 9% Busy Infotech 54 66 25 29 32 92% Others1 4 2 1 2 2 EBITDA 331 523 134 130 134 (3%) IndiaMART 334 513 135 115 136 Busy Infotech 7 5 5 5 5 Others1 (9) 5 (6) 9 (7) % of Collections35% 45% 43% 39% 37% 29%38% 31% 50% 37%38% 1) Others include: Other Subsidiaries and Inter Company Adjustments ~90% of Revenue and ~100% of EBITDA is contributed by IndiaMART standalone business
Page 40
Financial Performance Standalone Basis IndiaMART InterMESH Ltd Fire Suppression Systems
Page 41
IndiaMART InterMESH Ltd 41 Financial Performance – Standalone (₹ in Crore) Q2FY26 Q3FY26 YoY Financial Metrics FY20 FY21 FY22 FY23 FY24 FY25 CAGR 360 368 9% Revenue from Operations 624 665 751 939 1,139 1,320 16% 8 132 Other Income 68 85 108 113 170 284 368 500 39% Total Income 692 750 859 1,052 1,309 1,604 18% 157 167 19% Manpower Cost 255 199 263 399 507 553 17% 88 65 Other Expenses1 196 133 176 278 298 254 245 232 20% Total Expenses 451 332 439 677 805 807 12% 125 146 (1%) Adjusted EBITDA2 180 339 322 288 358 530 24% 35% 40% Adjusted EBITDA Margin(%) 29% 51% 43% 31% 31% 40% 115 136 (6%) EBITDA 173 333 312 262 334 513 24% 32% 37% EBITDA Margin(%) 28% 50% 42% 28% 29% 39% 40 62 Others3 95 132 110 102 141 190 83 206 65% Net Profit 146 287 310 272 362 607 33% 23% 41% Net Profit Margin(%) 21% 38% 36% 26% 28% 38% 365 390 14% Collections from Customers 722 707 932 1,167 1,399 1,526 16% 109 128 15% Cash flow from Operations 264 326 407 464 545 614 18% 30% 33% % of Collections 37% 46% 44% 40% 39% 40% 1) Includes Outsourced Sales Cost and Other Operating Expense 2) Excluding employee share-based payment expense 3) Others include – Depreciation, Amortization, Finance Cost, Exceptional Item & Tax Expense
Page 42
IndiaMART InterMESH Ltd Abridged Balance Sheet - Standalone 42 (₹ in Crore) Q2FY26 Q3FY26 Particulars FY20 FY21 FY22 FY23 FY24 FY25 27 24 Fixed Assets 1 85 65 56 53 48 33 27 25 Other Assets 2 73 41 49 33 38 43 2,681 2,855 Cash & Investments 920 2,359 2,414 2,202 2,186 2,720 1,352 1,435 Strategic Investments 3 41 50 446 1,073 1,095 1,293 4,088 4,339 Total Assets 1,119 2,516 2,965 3,361 3,367 4,090 2,242 2,462 Capital & Reserves 274 1,617 1,892 2,064 1,770 2,276 1,633 1,654 Deferred Revenue 4 684 726 907 1,134 1,395 1,600 56 60 Tax Liabilities 0 21 16 4 21 37 28 26 Lease Liabilities 77 63 56 46 41 33 129 137 Other Liabilities 5 84 89 94 113 140 143 4,088 4,339 Total Liabilities 1,119 2,516 2,965 3,361 3,367 4,090 1) Includes fixed assets, intangible assets & right of use assets 2) Includes security deposits, recoverable from payment gateway, prepaid expenses and remaining assets combined 3) Includes investment in subsidiaries & associates and others. 4) Includes customer advances 5) Includes provisions and payables, statutory liabilities & other financial liabilities
Page 43
IndiaMART InterMESH Ltd 63% 63% 61% 62% 62% 1,430 1,600 1,628 1,633 1,654 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 43 1) Deferred revenue refers to contract liabilities in the financial statements including advances from customers (₹ in Crore) ~20 % of deferred revenue gets recognized within next 3 months Yearly trends Quarterly trends 16% YoY 19% CAGR 61% 64% 63% 63% 64% 63% 684 726 907 1,134 1,395 1,600 FY20 FY21 FY22 FY23 FY24 FY25 Deferred Revenue - Standalone Current Portion (12 Months)
Page 44
IndiaMART InterMESH Ltd 44 624 665 751 939 1,139 1,320 FY20 FY21 FY22 FY23 FY24 FY25 (₹ in Crore) % of revenue recognized from opening deferred revenue 87% 87% 88% 88% 89% 337 336 346 360 368 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Yearly trends Quarterly trends 9% YoY 16% CAGR Revenue from Operations - Standalone
Page 45
IndiaMART InterMESH Ltd 45 (₹ in Crore) Q2FY26 Q3FY26 YoY Particulars FY20 FY21 FY22 FY23 FY24 FY25 CAGR 360 368 9% Revenue from Operations 624 665 751 939 1,139 1,320 16% (85) (89) 18% Customer service cost (174) (122) (160) (237) (309) (303) 12% 276 279 7% Gross Profit 1 450 543 591 702 830 1,017 18% 76% 76% Gross Margin 72% 82% 79% 75% 73% 77% (60) (55) 29% Selling & Marketing (118) (82) (112) (189) (211) (181) 9% 17% 15% % of Revenue 19% 12% 15% 20% 18% 14% (56) (60) 17% Technology & Content (104) (85) (111) (175) (199) (201) 14% 16% 16% % of Revenue 17% 13% 15% 19% 17% 15% (44) (29) 16% General & Administration (55) (43) (56) (76) (87) (122) 17% 115 136 (6%) EBITDA 173 333 312 262 334 513 24% 32% 37% EBITDA Margin 28% 50% 42% 28% 29% 39% (4) (4) (29%) Depreciation & Amortisation (21) (16) (12) (19) (25) (21) (0%) 111 132 (5%) Operating Profit 152 317 300 242 309 493 27% 31% 36% Operating Margin 24% 48% 40% 26% 27% 37% 1) Gross Profit means surplus over customer service cost 2) Refer to Note No. 31 in Condensed Standalone Interim Financial Statements for Q2FY26 for details on the basis of classification of function-wise results Functional P&L - Standalone
Page 46
Busy Infotech & Livekeeping Technologies Accounting IndiaMART InterMESH Ltd
Page 47
IndiaMART InterMESH Ltd 47 https://busy.in/ Invest in Team & Awareness Accelerate Revenue growth Increase New Licenses Sold Busy – Business Accounting Software Financial Accounting Production & Job Work E Way Bills Configurable Billing & E-Invoice Inventory Management TDS & TCS Analytics and Report Scheme Management IndiaMART Investment: Rs. 508 Crore, Holding: 100% Busy Infotech Pvt Ltd
Page 48
IndiaMART InterMESH Ltd 7 8 12 12 10 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 25 26 23 30 33 33 FY 20 FY21 FY 22 FY 23 FY 24 FY25 331 364 48 Yearly trends Quarterly trends 11% YoY 9% CAGR (Figures in Thousand) 253 278 New License sold 301 396 License Sold 421 388 396 409 431
Page 49
IndiaMART InterMESH Ltd 30 37 42 48 70 85 FY 20 FY21 FY 22 FY 23 FY 24 FY25 Billing Yearly trends 28% YoY1 23% CAGR1 49 Quarterly trends (₹ in Crore) 18 25 38 27 23 21 33 53 38 33 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 94 Impact of reclassification 1) Billing reflects invoices issued net of trade discounts and GST. From Nov’24, discounts are reclassified as expenses due to a change in the channel partner payout structure, Growth excludes reclassification impact
Page 50
IndiaMART InterMESH Ltd 50 Financial Performance (₹ in Crore) Q2FY26 Q3FY26 YoY Metrics FY22 FY23 FY24 FY25 CAGR 29 32 92% Revenue from Operations 35 43 54 66 23% 31 35 90% Total Revenue 38 47 62 76 26% 10 11 9% Manpower Expenses 18 22 31 39 31% 13 15 Other Expenses1 9 11 16 22 24 26 72% Total Expenses 27 33 47 61 32% 5 5 EBITDA 9 10 7 5 (19%) 19% 16% EBITDA Margin(%) 25% 24% 13% 7% 2 2 Others2 4 4 12 3 5 6 Net Profit 8 10 3 12 12% 17% 17% Net Profit Margin(%) 21% 22% 5% 15% 38 33 Billing 42 48 70 94 31% 11 6 Cash flow from Operations 10 21 24 23 33% 111 112 Deferred Revenue 22 27 44 72 48% 1) Includes Marketing & Sales Promotion, and Other Operating Expense 2) Others include – Depreciation, Finance Cost & Tax Expense
Page 51
IndiaMART InterMESH Ltd Livekeeping – Tally on Mobile & Web Tally on Mobile & Web - Integration with Tally software to provide Value Added Services with Mobile and Cloud first approach 51 https://www.livekeeping.com/ All trademarks, logos and brand names are the property of their respective owners. Use of any third-party names, trademarks and brands are for reference purposes only. Dashboard Invoicing Tally Backup E-way Bills and E- invoicing Payment Reminders Receivables & Payables IndiaMART Investment: Rs. 96 Crore*, Holding: 100% Livekeeping Technologies Pvt Ltd * Includes Rs. 9 Cr investment, concluded in Jan’26
Page 52
IndiaMART InterMESH Ltd Environment, Social and Governance
Page 53
IndiaMART InterMESH Ltd 53 Figures as on March 31, 2025 Driving Digital Enablement Eco-efficient Operations Excellence in Corporate Governance Transforming Small Suppliers Reduction in travel and transport Reduces paper wastage Emissions of 0.03 TCO2e per Mn Turnover IGBC2 LEED Gold Certified Corp. Office Diverse & Inclusive Board Stakeholders Management Cost-Effective Business Enablement 8.1Mn served free of charge Environment, Social and Governance Click here Click here Seller Testimonials Click here Seller Testimonials Seller Testimonials Empowering Small City Buyers 100% Free Assistance to Buyers ~47% Buyers from Small Cities Trusted Systems and Processes Risk Management Business Continuity Information Security Data Privacy
Page 54
IndiaMART InterMESH Ltd More than 1.2 Million+ lives impacted Community Improvement – Education and Infrastructure 550+ Candidates, 71% Women Empowering Underprivileged Youth through Skill-Based Training across Five Cities 80k+ Female Students Localized Science Content Development for 746 Kasturba Gandhi Balika Vidyalayas 200+ Underprivilege Students supported Infrastructure Enhancement at Ponnachi High School 14K + Students Impacted Transforming learning spaces with modern infrastructure, water facilities and sanitation in 25+ Schools Figures as on March 31, 2025 54
Page 55
IndiaMART InterMESH Ltd ~29% Females2 16% Employees with 5+ years 700+ employees covered in ESOP1 1) Employees covered under Indiamart Employee Stock Benefit Scheme 2015 and 2018 who vested stocks till date 2) Females working in verticals other than sales and servicing 3) Figures as on March 31, 2025 55 Nurturing People
Page 56
IndiaMART InterMESH Ltd Independent and Non-Executive Directors 56 Pallavi Dinodia Gupta Chartered Accountant and Bachelor’s degree in law from Delhi University Experience S R Dinodia & Co LLP Lead Independent Director Vivek Narayan Gour Bachelor’s degree from the University of Bombay and an MBA from Delhi University Experience Tata Finance, Genpact India, GE Capital Services India Independent Director Dhruv Prakash Master’s degree from Meerut University and a PGDM from IIM, Ahmedabad Experience Korn/Ferry International, Helion Ventures, Hewitt Associates (India), Amar Dye-Chem, DCM Toyota Non-executive Director Manish Vij Master’s in management science and Bachelor’s degree from Devi Ahilya Vishwavidyalaya Experience Smile Group, SVG Media Pvt, Quasar, Tyroo, Zupee Independent Director Sandeep Kumar Barasia MBA from London Business School and B.Com, Bond University, Australia Experience Delhivery , Bain & Company Independent Director Vasuta Agarwal PGDM from IIM Bangalore and B.E. from Birla Institute of Technology & Science, Pilani Experience InMobi, McKinsey & Company, Intel Technologies India Independent Director 11% non-independent non-executive directors56% Independent directors 100% Board Meetings chaired by Independent directors
Page 57
Shareholders and Team Electric Car Charger IndiaMART InterMESH Ltd
Page 58
IndiaMART InterMESH Ltd 49% 18% 17% 16% Shareholding Pattern 58 Total Equity Shares Outstanding as on December 31, 2025 - 6,00,87,148 Promoters and Promoter Group Foreign Institutions and Portfolio Investors Mutual Funds, Alternate Investment Funds, Insurance Companies Others Institutional investors holding greater than 1% of the total number of shares The figures are approximations ICICI Prudential Mutual Fund UTI Mutual Fund SBI Mutual Fund Vanguard Group Capital Group Pictet Asset Management Ishares Core MSCI
Page 59
IndiaMART InterMESH Ltd Leadership Team 59 Dinesh Chandra Agarwal MD & CEO B.Tech (HBTI) Experience Founder(IndiaMART), HCL America, C-Dot, CMC Brijesh Kumar Agrawal WTD PGDBM (NIILM), BMS (Lucknow University) Experience Co-Founder (IndiaMART), Miebach Logistics India Manoj Bhargava WTD, GC & CS B.Com(H), LLB(DU), LLM (IP Univ. Delhi), CS Experience HT Media, Varun Beverages, Barista Coffee Company, India Today Group Jitin Diwan CFO CA, B.Com(H) (DU) Experience Upstox, Amazon India, Bharti Airtel, Vodafone Prateek Chandra CSO CA, B.Com(H) (SRCC) Experience Bharat S. Raut & Co (KPMG), EXL, HT Media Dinesh Gulati COO B.Tech (HBTI), MBA (FMS) Experience Kodak India, Bharti Airtel, Reliance Infocomm, Indian Express Amarinder S. Dhaliwal CPO B.Tech (IIT Delhi), MBA (IIM A) Experience Micromax, BCCL, TIMES Internet, SBI Capital Markets Nikhil S Prabhakar CIO B.Tech (NITK Surathkal), MBA (FMS) Experience Pristyn Care, Ola Financial Services, Bharti Airtel, GoodHealth Technologies
Page 60
IndiaMART InterMESH Ltd APPENDIX
Page 61
IndiaMART InterMESH Ltd 61 Collections from Customer - Consolidated 738 711 934 1,219 1,474 1,626 FY20 FY21 FY22 FY23 FY24 FY25 (₹ in Crore) 363 541 430 406 426 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Yearly trends Quarterly trends 17% YoY 17% CAGR
Page 62
IndiaMART InterMESH Ltd 62 Cash Flow From Operations - Consolidated 261 323 402 476 559 623 FY20 FY21 FY22 FY23 FY24 FY25 (₹ in Crore) 114 271 161 114 129 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 % of Collections35% 45% 43% Yearly trends Quarterly trends 1) Fourth Quarter of the financial year traditionally has high Cash flow from Operations due to seasonal impact of Collections from Customers 39% 31% 50%38% 37% 28% 30%38%
Page 63
IndiaMART InterMESH Ltd 63 Collections from Customer – Standalone (₹ in Crore) 341 506 374 365 390 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Yearly trends Quarterly trends 14% YoY 16% CAGR 722 707 932 1,167 1,399 1,526 FY20 FY21 FY22 FY23 FY24 FY25
Page 64
IndiaMART InterMESH Ltd 64 264 326 407 464 545 614 FY20 FY21 FY22 FY23 FY24 FY25 (₹ in Crore) 111 270 144 109 128 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 % of Collections37% 46% 44% Yearly trends Quarterly trends 15% YoY 18% CAGR 1) Fourth Quarter of the financial year traditionally has high Cash flow from Operations due to seasonal impact of Collections from Customers 40% 33% 53%39% 39% 30% 33%40% Cash Flow From Operations - Standalone
Page 65
IndiaMART InterMESH Ltd 65 173 333 312 262 334 513 FY20 FY21 FY22 FY23 FY24 FY25 (₹ in Crore) 144 133 135 115 136 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 EBITDA Margins28% 50% 42% Yearly trends Quarterly trends (6)% YoY 24% CAGR 28% 43% 40%29% 39% 32% 37%39% EBITDA - Standalone
Page 66
IndiaMART InterMESH Ltd 66 Unique Business Enquiries 31 53 73 74 96 97 88 93 106 FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 (Figures in Millions) 27 27 29 31 28 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 1) Buyer posting an enquiry is one unique buyer for that day. If the same buyer posts another enquiry on a different day, he is considered as a different unique buyer. Sum of all such unique quarterly & yearly buyers is mentioned in the Quarterly & Yearly trends, respectively Yearly trends Quarterly trends 4% YoY 17% CAGR
Page 67
Thank You For any queries, please contact us at investors@indiamart.com To know more, visit us at https://www.indiamart.com/ https://investor.indiamart.com/