Interim report
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January 20, 2026 To, BSE Limited (BSE: 542726) National Stock Exchange of India Limited (NSE: INDIAMART) Subject: Outcome of the Board Meeting Dear Sir/Madam, Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of IndiaMART InterMESH Limited (‘the Company’) at its meeting held today i.e. Tuesday , January 20, 2026 has, inter alia, considered and approved the Audited Standalone and Consolidated Financial Results (Collectively referred as ‘Financial Results’) of the Company for the quarter and nine months ended December 31, 2025. A copy of Financial Results along with Auditors’ Report thereon is enclosed herewith. The same sh all also b e disseminated on the Company’s w ebsite at https://investor.indiamart.com/FinancialResultsStatements.aspx. The meeting commenced at 11:25 a.m. and concluded at 03:29 p.m. Please take above information on record. Thanking You, For IndiaMART InterMESH Limited (Vasudha Bagri) Compliance Officer Membership No: A28500 Encl.: As above
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B S R & Co. LLPChartered AccountantsBuilding No. 10, 12th Floor, Tower-CDLF Cyber City, Phase - IIGurugram - 122 002, IndiaTel: +91 124 719 1000Fax: +91 124 235 8613 Registered Office:B S R & Co. (a partnership firm with Registration No. BA61223) converted into B S R & Co. LLP (a Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14, 201314th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063Page 1 of 5 ’Independent Auditor s ReportTo the Board of Directors of IndiaMART InterMESH LimitedReport on the audit of the Consolidated Financial ResultsOpinionWe have audited the accompanying Statement of Consolidated Financial Results of IndiaMART InterMESH Limited (“Holding Company”) and its subsidiaries (Holding Company and its subsidiaries together referred to as “the Group”), and its associates for the quarter ended 31 December 2025 and for the period from 1 April 2025 to 31 December 2025, (“the Statement”), being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations").In our opinion and to the best of our information and according to the explanations given to us, the Statement:a. includes the results of the entities mentioned in Annexure I to the Report on the audit of the Consolidated Financial Results;b. is presented in accordance with the requirements of Regulation 33 of the Listing Regulations as amended; andc. gives a true and fair view in conformity with the applicable accounting standards, and other accounting principles generally accepted in India, of consolidated total comprehensive income (comprising of net profit and other comprehensive income) and other financial information of the Group for the quarter ended 31 December 2025 as well as for the year to date results for the period from 1 April 2025 to 31 December 2025.Basis for OpinionWe conducted our audit in accordance with the Standards on Auditing (“SAs”) specified under section 143(10) of the Companies Act, 2013 (“the Act”). Our responsibilities under those SAs are further described in the Auditor’s Responsibilities for the Audit of the Consolidated Financial Results section of our report. We are independent of the Group and its associates in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act, and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us, along with the consideration of audit reports of the other auditors referred to in sub paragraph no. (a) of the “Other Matters” paragraph below, is sufficient and appropriate to provide a basis for our opinion on the consolidated financial results.Management’s and Board of Directors’ Responsibilities for the Consolidated Financial ResultsThese quarterly consolidated financial results as well as the year to date consolidated financial results have been prepared on the basis of the consolidated interim financial statements.The Holding Company’s Management and the Board of Directors are responsible for the preparation and presentation of these consolidated financial results that give a true and fair view of the consolidated net profit/ loss and other comprehensive income and other financial information of the Group including its associates in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, ‘Interim Financial Reporting’ prescribed under Section 133 of the Act read with relevant rules
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B S R & Co. LLP Independent Auditor’s Report(Continued) IndiaMART InterMESH Limited Page 2 of 5 issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The respective Management and Board of Directors of the companies included in the Group and of its associates are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of each company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the consolidated financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the consolidated financial results by the Management and the Board of Directors of the Holding Company, as aforesaid. In preparing the consolidated financial results, the respective Management and the Board of Directors of the companies included in the Group and of its associates are responsible for assessing the ability of each company to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so. The respective Board of Directors of the companies included in the Group and of its associates is responsible for overseeing the financial reporting process of each company. Auditor’s Responsibilities for the Audit of the Consolidated Financial Results Our objectives are to obtain reasonable assurance about whether the consolidated financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial results. As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also: – Identify and assess the risks of material misstatement of the consolidated financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. – Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s internal control. – Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the consolidated financial results made by the Management and Board of Directors. – Conclude on the appropriateness of the Management’s and Board of Directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the appropriateness of this assumption. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the consolidated financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Group and its associates to cease to continue as a going concern. – Evaluate the overall presentation, structure and content of the consolidated financial results, including the disclosures, and whether the consolidated financial results represent the underlying transactions and events in a manner that achieves fair presentation.
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B S R & Co. LLPIndependent Auditor’s Report(Continued)IndiaMART InterMESH Limited Page 3 of 5 – Obtain sufficient appropriate audit evidence regarding the interim financial statements of the entities within the Group and its associates to express an opinion on the consolidated financial results. We are responsible for the direction, supervision and performance of the audit of interim financial statements of such entities included in the consolidated financial results of which we are the independent auditors. For the other entities included in the consolidated financial results, which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion. Our responsibilities in this regard are further described in sub paragraph no. (a) of the “Other Matters” paragraph in this audit report.We communicate with those charged with governance of the Holding Company regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.Other Mattersa. The consolidated financial results include the audited financial results of four subsidiaries, whose interim financial statements reflects total assets (before consolidation adjustments) of Rs. 1,757.99 million as at 31 December 2025, total revenue (before consolidation adjustments) of Rs. 20.26 million and Rs. 49.98 million, total net loss after tax (before consolidation adjustments) of Rs. 78.25 million and Rs. 214.82 million for the quarter ended 31 December 2025 and for the period from 1 April 2025 to 31 December 2025 respectively, and net cash outflows (before consolidation adjustments) of Rs. 28 million for the period from 1 April 2025 to 31 December 2025, as considered in the consolidated financial results, which have been audited by their respective independent auditors. The independent auditor’s reports on interim financial statements of these entities have been furnished to us.Our opinion on the consolidated financial results, in so far as it relates to the amounts and disclosures included in respect of these entities, is based solely on the reports of such auditors and the procedures performed by us are as stated in paragraph above.Our opinion on the consolidated financial results is not modified in respect of the above matter with respect to our reliance on the work done and the reports of the other auditors.b. The consolidated financial results include theGroup’s share of total net loss after tax of Rs. 145.58 million and Rs. 420.70 million for the quarter ended 31 December 2025 and for the period from 1 April 2025 to 31 December 2025 respectively, as considered in the consolidated financial results, in respect of eight associates. These interim unaudited financial information have been furnished to us by the
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B S R & Co. LLPIndependent Auditor’s Report(Continued)IndiaMART InterMESH Limited Page 4 of 5 Board of Directors.Our opinion on the consolidated financial results, in so far as it relates to the amounts and disclosures included in respect of these associates, is based solely on such interim unaudited financial information. In our opinion and according to the information and explanations given to us by the Board of Directors, these interim unaudited financial information are not material to the Group.Our opinion on the consolidated financial results is not modified in respect of the above matter with respect to the interim unaudited financial information certified by the Board of Directors.For B S R & Co. LLPChartered AccountantsFirm’s Registration No.:101248W/W-100022David JonesPartnerNoidaMembership No.: 09811320 January 2026UDIN:26098113FZESRD4021
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B S R & Co. LLPIndependent Auditor’s Report(Continued)IndiaMART InterMESH Limited Page 5 of 5 Annexure IList of entities included in consolidated financial results.Sr. No Name of component Relationship1 Tradezeal Online Private Limited Subsidiary2 Pay With Indiamart Private Limited Subsidiary3Busy Infotech Private Limited (Formerly known as Tolexo Online Private Limited)Subsidiary4 Livekeeping Technologies Private Limited Subsidiary5IIL Digital Private Limited (incorporated on 27 August 2024)Subsidiary6 Simply Vyapar Apps Private Limited Associate7 IB MonotaRO Private Limited Associate8 Truckhall Private Limited Associate9 Agillos E-Commerce Private Limited Associate10 Edgewise Technologies Private Limited Associate11 Adansa Solutions Private Limited Associate12 Mobisy Technologies Private Limited Associate13Fleetex Technologies Private Limited (w.e.f 11 April 2025)Associate
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Year endedDecember 31, 2025September 30, 2025 December 31, 2024 December 31, 2025 December 31, 2024 March 31, 2025 Audited Audited Audited Audited Audited Audited 1Income:a) Revenue from operations4,016 3,910 3,543 11,647 10,333 13,884 b) Other income 1,354 102 449 2,380 1,636 2,724 Total income 5,370 4,012 3,992 14,027 11,969 16,608 2Expenses:a) Employee benefits expense1,823 1,715 1,530 5,148 4,436 6,010 b) Finance costs 7 7 18 24 57 74 c) Depreciation and amortisation expense 73 72 83 214 246 329 d) Other expenses 851 898 630 2,525 1,973 2,646 Total expenses 2,754 2,692 2,261 7,911 6,712 9,059 3Profit before share of loss in associates and tax (1-2)2,616 1,320 1,731 6,116 5,257 7,549 4Share in net loss of associates (146)(134) (141) (421) (380) (491) 5Profit before tax (3+4)2,470 1,186 1,590 5,695 4,877 7,058 6Tax expensea) Current tax434 399 398 1,222 1,148 1,545 b) Deferred tax 153 (40) (18) 228 28 6 Total tax expense 587 359 380 1,450 1,176 1,551 7 Net Profit for the period/year [5-6] 1,883 827 1,210 4,245 3,701 5,507 8Other comprehensive income / (loss) (net of tax)-Items that will not be reclassified to profit or loss 27 8 (9) 13 - (4) 9 Total comprehensive income for the period/year [7+8] 1,910 835 1,201 4,258 3,701 5,503 10Paid up equity share capital (face value : INR 10/- each) 601 600 600 601 600 600 11Other equity for the year21,253 12Earnings per equity share:Basic earnings per equity share (INR 10 per share) 31.37 13.77 20.18 70.73 61.72 91.84 (Not annualised) (Not annualised) (Not annualised) (Not annualised) (Not annualised)(Annualised)Diluted earnings per equity share (INR 10 per share) 31.24 13.71 20.13 70.43 61.55 91.59 (Not annualised) (Not annualised) (Not annualised) (Not annualised) (Not annualised)(Annualised)S.No.ParticularsNine months endedQuarter ended(Amounts in INR million, except per share data)IndiaMART InterMESH Limited CIN: L74899DL1999PLC101534Regd.office :- 1st Floor, 29-Daryaganj,Netaji Subhash Marg, Delhi-110002,India Statement of Audited Consolidated Financials Results for the quarter and nine months period ended December 31, 2025I. Audited Consolidated Financials Results
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December 31, 2025 September 30, 2025 December 31, 2024 December 31, 2025 December 31, 2024 March 31, 2025 Audited Audited Audited Audited Audited Audited Segment Revenuea) Web and related services 3,681 3,603 3,373 10,747 9,848 13,204 b) Accounting Software services 335 307 170 900 485 682 Total 4,016 3,910 3,543 11,647 10,333 13,886 Less : Inter-Segment Revenuea) Web and related services - - - - - (2) b) Accounting Software services - - - - - - Total - - - - - (2) Revenue from operations from external customersa) Web and related services 3,681 3,603 3,373 10,747 9,848 13,202 b) Accounting Software services 335 307 170 900 485 682 Total4,016 3,910 3,543 11,647 10,333 13,884 Segment Resulta) Web and related services 1,352 1,302 1,417 3,995 4,019 5,347 b) Accounting Software services (10) (5) (34) (21) (95) (119) Total1,342 1,297 1,383 3,974 3,924 5,228 Finance Cost (7) (7) (18) (24) (57) (74) Depreciation and amortisation expense (73) (72) (83) (214) (246) (329) Other income 1,354 102 449 2,380 1,636 2,724 Profit before share of loss in associates and tax2,616 1,320 1,731 6,116 5,257 7,549 Share in net loss of associates (146) (134) (141) (421) (380) (491) Profit before tax2,470 1,186 1,590 5,695 4,877 7,058 Segment Assetsa) Web and related services 29,125 27,451 25,171 29,125 25,171 28,048 b) Accounting Software services 7,013 6,981 6,441 7,013 6,441 6,639 Unallocable 7,523 6,845 5,830 7,523 5,830 6,650 Total43,661 41,277 37,442 43,661 37,442 41,337 Segment Liabilitiesa) Web and related services 18,882 18,565 16,289 18,882 16,289 18,219 b) Accounting Software services 1,382 1,335 1,131 1,382 1,131 1,265 Total20,264 19,900 17,420 20,264 17,420 19,484 b) The Group had identified two business segments namely "Web and Related Services" and "Accounting Software Services" as reportable segments based on the nature of the products, the risks andreturns,the organization structure and the internal financial reporting systems.c) Web and related services pertains to online B2B marketplace for business products and services. It provides a platform to discover products and services and connect with the suppliers of such productsandservices. Accounting Software Services includes business of development, system analysis, designing and marketing of integrated business accounting software to help and manage businesses withincreasedefficiency. Particulars a) Operating segments are defined as components of an enterprise for which discrete financial information is available that is evaluated regularly by the chief opearting decision maker, in deciding howtoallocate resources and assessing performance. Year endedNine months ended Quarter ended (Amounts in INR million)IndiaMART InterMESH Limited CIN: L74899DL1999PLC101534Regd.office :- 1st Floor, 29-Daryaganj,Netaji Subhash Marg, Delhi-110002,India Statement of Audited Consolidated Financials ResultsII. Segment Information of Consolidated Financial Results
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123456 For and on behalf of the Board of DirectorsIndiaMART InterMESH Limited Place: NoidaDinesh Chandra AgarwalDate : 20 January 2026 (Managing Director and Chief Executive Officer) During the previous year, a composite scheme of amalgamation ("the Scheme") amongst wholly owned subsidiaries Busy Infotech Private Limited ( "Busy " or"TransferorCompany 1"), Hello Trade Online Private Limitedor "Transferor Company 2"), Tolexo Online Private Limitedor"Transferee Company") andtheir respective shareholders and creditors under Section 230 to 232 and other applicable provisions, if any, of the Companies Act, 2013(read with the Rules madethereunder) was approved by the Board of Directors of the respective companies in their meeting held on 28 March 2024,had received requisite approvals and sanctionedby theNational Company Law Tribunal (NCLT) Chandigarh Bench vide its order dated January 17, 2025 with the appointed date of April 1, 2023.The Certifiedtrue copy of the said order dated February 12, 2025 was filed with the Registrar of Companies on February 14, 2025. In accordance with the order ofNCLT, the Group hadgiven effect to the scheme, however it does not have any material effect to the consolidated financial results for the year ended March 31, 2025.Further, pursuant to the said scheme, Tolexo Online Private Limited has filed an application with ROC on March 12, 2025 for name change toInfotech PrivateThe Government of India has notified provisions of The Code on Wages, 2019, The Industrial Relations Code, 2020, The Code on Social Security, 2020 and The wages and the eligibility criteria for statutory employee benefits. These Codes have been made effective from 21 November 2025; however, the corresponding rules thereunder are yet to be notified.Pursuant to the above, the Group has carried out an impact assessment which has resulted in increase in the provision for employee benefits by Rs. 90.72 (Gratuity by Rs. 55.17 and leave benefits by Rs. 35.55). The corresponding impact has been recognised as employee benefit expense in the conslidated financial results of the current The Government is in the process of notifying related rules to the New Labour Codes and impact of these will be evaluated and accounted for in accordance with applicable accounting standards in the period in which they are notified.The results for the quarter and nine months period ended December 31, 2025 are available on the BSE Limited website (URL:www.bseindia.com/corporates), the National Stock Exchange of India Limited website (URL:www.nseindia.com/corporates) and on the Company's website.During the period ended 31 December 2025, the Company has granted 406,730 Stock appreciation rights (SAR) to its eligible employees ata weighted average share priceof INR 2,245 per share with exercise price of INR 10 each and vesting over a period of 5 years.Notes to the Statement of Audited Consolidated Financial Results for the quarter and nine months period ended December 31, 2025:The above consolidated financial results for the quarter and nine months ended December 31, 2025 were reviewed and recommended by the Audit Committee onJanuary19, 2026 and subsequently approved by the Board of Directors at its meeting held on January 20, 2026. The statutory auditors have expressed anunmodified audit opinionon these results.The above consolidated financial results have been prepared in accordance with the Indian Accounting Standards (referred to asas prescribed under Section133of the Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules, 2015, as amended from time to time.
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B S R & Co. LLPChartered AccountantsBuilding No. 10, 12th Floor, Tower-CDLF Cyber City, Phase - IIGurugram - 122 002, IndiaTel: +91 124 719 1000Fax: +91 124 235 8613 Registered Office:B S R & Co. (a partnership firm with Registration No. BA61223) converted into B S R & Co. LLP (a Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14, 201314th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063Page 1 of 3 ’Independent Auditor s ReportTo the Board of Directors of IndiaMART InterMESH LimitedReport on the audit of the Standalone Financial ResultsOpinionWe have audited the accompanying standalone quarterly financial results of IndiaMART InterMESH Limited (“the Company”) for the quarter ended 31 December 2025 and the year -to-date results for the period from 1 April 2025 to 31 December 2025, attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations").In our opinion and to the best of our information and according to the explanations given to us, these standalone financial results:a. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; andb. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable accounting standards, and other accounting principles generally accepted in India, of the net profit and other comprehensive income and other financial information for the quarter ended 31 December 2025 as well as for the year to date results for the period from 1 April 2025 to 31 December 2025.Basis for OpinionWe conducted our audit in accordance with the Standards on Auditing (“SAs”) specified under section 143(10) of the Companies Act, 2013 (“the Act”). Our responsibilities under those SAs are further described in the Auditor’s Responsibilities for the Audit of the Standalone Financial Results section of our report. We are independent of the Company, in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act, and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained, is sufficient and appropriate to provide a basis for our opinion.Management’s and Board of Directors’ Responsibilities for the Standalone Financial ResultsThese quarterly financial results as well as the year to date standalone financial results have been prepared on the basis of the interim financial statements.The Company’s Management and the Board of Directors are responsible for the preparation of these standalone financial results that give a true and fair view of the net profit/ loss and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, ‘Interim Financial Reporting’ prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone financial results that give a true and fair view and are
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B S R & Co. LLPIndependent Auditor’s Report(Continued)IndiaMART InterMESH Limited Page 2 of 3 free from material misstatement, whether due to fraud or error.In preparing the standalone financial results, the Management and the Board of Directors are responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. The Board of Directors is also responsible for overseeing the Company’s financial reporting process.Auditor’s Responsibilities for the Audit of the Standalone Financial ResultsOur objectives are to obtain reasonable assurance about whether the standalone financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone financial results.As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:– Identify and assess the risks of material misstatement of the standalone financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.– Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control.– Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the standalone financial results made by the Management and Board of Directors.– Conclude on the appropriateness of the Management’s and Board of Directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the standalone financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to continue as a going concern.– Evaluate the overall presentation, structure and content of the standalone financial results, including the disclosures, and whether the standalone financial results represent the underlying transactions and events in a manner that achieves fair presentation.We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
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B S R & Co. LLPIndependent Auditor’s Report(Continued)IndiaMART InterMESH Limited Page 3 of 3 We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.For B S R & Co. LLPChartered AccountantsFirm’s Registration No.:101248W/W-100022David JonesPartnerNoidaMembership No.: 09811320 January 2026UDIN:26098113WUZNZO2890
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I. Audited Standalone Financials Results S.No. ParticularsYear ended December 31, 2025 September 30, 2025 December 31, 2024 December 31, 2025 December 31, 2024 March 31, 2025 Audited Audited Audited Audited Audited Audited 1 Income:a) Revenue from operations3,680 3,603 3,372 10,746 9,843 13,201 b) Other income1,323 80 229 2,247 1,357 2,838 Total income 5,003 3,683 3,601 12,993 11,200 16,039 2 Expenses:a) Employee benefits expense1,665 1,574 1,402 4,724 4,068 5,526 b) Finance costs6 7 9 21 29 38 c) Depreciation and amortisation expense36 36 51 107 155 205 d) Other expenses655 879 530 2,165 1,967 2,540 Total expenses 2,362 2,496 1,992 7,017 6,219 8,309 3 Profit before tax (1-2) 2,641 1,187 1,609 5,976 4,981 7,730 4 Tax expensea) Current tax431 393 358 1,208 1,102 1,506 b) Deferred tax149 (41) 2 212 120 152 Total tax expense 580 352 360 1,420 1,222 1,658 5 Net Profit for the period/year (3-4) 2,061 835 1,249 4,556 3,759 6,072 6Other comprehensive income/ (loss) (net of tax)-Items that will not be reclassified to profit or loss28 7 (9) 13 1 (3) 7Total comprehensive income for the period/year (5+6)2,089 842 1,240 4,569 3,760 6,069 8 Paid up equity share capital (face value : INR 10/- each) 601 600 600 601 600 600 9 Other equity for the year 22,161 10Earnings per equity share:Basic earnings per equity share (INR 10 per share)34.34 13.91 20.84 75.92 62.70 101.26 (Not annualised)(Not annualised)(Not annualised)(Not annualised)(Not annualised)(Annualised)Diluted earnings per equity share (INR 10 per share)34.20 13.85 20.78 75.60 62.53 100.99 (Not annualised)(Not annualised)(Not annualised)(Not annualised)(Not annualised)(Annualised) IndiaMART InterMESH Limited CIN: L74899DL1999PLC101534Regd.office :- 1st Floor, 29-Daryaganj,Netaji Subhash Marg, Delhi-110002,India Statement of Audited Standalone Financials Results for the quarter and nine months period ended December 31, 2025Quarter ended Nine months ended(Amounts in INR million, except per share data)
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Notes to the Statement of Audited Standalone Financial Results for the quarter and nine months period ended December 31, 2025:1234567 For and on behalf of the Board of DirectorsIndiaMART InterMESH Limited Place: NoidaDinesh Chandra AgarwalDate: 20 January 2026 (Managing Director and Chief Executive Officer) During the previous year, a composite scheme of amalgamation ("the Scheme") amongst wholly owned subsidiaries Busy Infotech Private Limited ( "Busy "or"Transferor Company 1"), Hello Trade Online Private Limitedor "Transferor Company 2"), Tolexo Online Private Limitedor"TransfereeCompany") and their respective shareholders and creditors under Section 230 to 232 and other applicable provisions, if any, of the Companies Act, 2013(read with theRules made thereunder) was approved by the Board of Directors of the respective companies in their meeting held on 28 March 2024,received requisite approvals andThe Certified true copy of the said order dated February 12, 2025 was filed with the Registrar of Companies on February 14, 2025. In accordance with the orderofNCLT, the Company had given effect to the scheme in the standalone financial results for the year ended March 31, 2025 and reversed impairment loss inTolexo andHello Trade of INR 70.32.Further, pursuant to the said scheme, Tolexo Online Private Limited had filed an application with ROC on March 12, 2025 for name change toInfotech PrivateAs per IND AS 108 "Operating Segments", the Company has disclosed the segment information only as a part of consolidated financial results.The results for the quarter and nine months period ended December 31, 2025 are available onthe BSE Limited website (URL: www.bseindia.com/corporates), theNational Stock Exchange of India Limited website (URL: www.nseindia.com/corporates) and on the Company's website.During the nine months period ended 31 December 2025, the Company has granted 406,730 Stock appreciation rights (SAR) to its eligible employees ata weightedaverage share price of INR 2,245 per share with exercise price of INR 10 each and vesting over a period of 5 years.The Government of India has notified provisions of The Code on Wages, 2019, The Industrial Relations Code, 2020, The Code on Social Security, 2020and TheOccupational Safety, Health & Working conditions code, 2020subsuming 29existing labour laws, which introduce changes to, inter alia, thedefinition of wages and the eligibility criteria for statutory employee benefits. These Codes have been made effective from 21 November 2025;however, thecorresponding rules thereunder are yet to be notified.Pursuant to the above, the Company has carried out an impact assessment which has resulted in increase in the provision for employee benefits by Rs.85.79 (Gratuityby Rs. 50.39 and leave benefits by Rs. 35.40). The corresponding impact has been recognised as employee benefit expense in the standalone financial results oftheThe Government is in the process of notifying related rules to the New Labour Codes and impact of these will be evaluated and accounted for inaccordance withapplicable accounting standards in the period in which they are notified. The above standalone financial results for the quarter and nine months period ended December 31, 2025 were reviewed and recommended by the Audit CommitteeonJanuary 19, 2026 and subsequently approved by the Board of Directors at its meeting held on January 20, 2026. The statutory auditors have expressed anunmodifiedaudit opinion on these results.The above standalone financial results have been prepared in accordance with the Indian Accounting Standards (referred to asasprescribed under Section133 of the Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules, 2015, as amended from time to time.