Indiamart Intermesh Limited — Q2FY27 earnings call summary

Filed 31 October 2026 · Official transcript

Long-term margin guidance at 33%; current elevated margins due to timing and lower sales investment
Q2 FY27 consolidated revenue Rs. 429 Cr +10% y-y; collections Rs. 443 Cr +9% y-y; deferred revenue Rs. 2,029 Cr +16% y-y
Paid advertising contributes ~10% of buyer traffic, focused on top quartile categories; plans to increase spend with targeted campaigns
Silver subscription churn elevated, causing net decline in paying suppliers; focus on upsell and retention in Platinum and Gold segments
Credit facilitation pilots ongoing with no significant capital risk; focus on enhancing buyer experience
EBITDA margin at 37%; net profit Rs. 91 Cr; cash from operations Rs. 135 Cr; cash balance Rs. 3,234 Cr
AI deployed extensively across platform for matchmaking, voice AI, user verification, and product cataloguing
Management cautious on AI impact; some business lost to AI search but proprietary data protected; AI investments expensed fully