IndiaMART InterMESH Ltd. shares are down and locked in the 15% lower circuit today, falling by ₹451.95 (-15.00%) to ₹2,561.20 as of 9:40 AM. The stock has been under heavy selling pressure following the company’s Q2 FY25 results and negative broker reports.
Despite reporting a 95% year-on-year (YoY) jump in net profit to ₹135.1 crore and an 18% increase in revenue to ₹347.7 crore, the slowdown in collection growth and concerns over subscriber churn have raised red flags for investors. Collection growth moderated to 5% YoY, down from 14% in the previous quarter, which has led to a cautious outlook.
Brokerages have reacted negatively, with Jefferies downgrading IndiaMART to “Underperform” and cutting the target price to ₹2,540, citing slower growth. Nuvama followed suit, downgrading the stock to “Reduce” with a target price of ₹2,500, reflecting concerns over future growth prospects.
The steep fall in IndiaMART’s stock price reflects investor concerns over the company’s ability to sustain growth in a challenging environment.
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. Please consult a financial advisor before making any investment decisions.
