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'Buy' IndiaMart Shares Maintains Motilal Oswal Post Q1 Results, Citing Undemanding Valuations
Currently, IndiaMart is trading at an undemanding valuation, in the brokerage's view, as the valuations reflect uncertainties surrounding the churn rate, productmarket fit, and subscriber growth.
21 Jul 2025, 03:01 PM IST 
IndiaMart’s unique business inquiries grew 17% YoY in Q1 FY26.
(Photo Source: NDTVProfit)
IndiaMart reported Q1 FY26 revenue growth of 12% YoY vs our estimate of 10% YoY growth. Deferred revenue rose 16% YoY to Rs 17 billion. Ebitda margin was down ~90 bp QoQ to 36%, in line with our estimates of 36.4%.
