IndiaMART InterMESH (NSE:INDIAMART) Operating Income: ₹5,055 Mil (TTM As of Mar. 2026)

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NSE:INDIAMART IndiaMART InterMESH Ltd NSE:INDIAMART
90 GF Score
Price ₹1,910.10
GF Value ₹3,084.77
Valuation Significantly Undervalued
! 2 Warning Signs
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What is IndiaMART InterMESH Operating Income?

IndiaMART InterMESH NSE:INDIAMART -1.90% 90 Operating Income is ₹5,055 Mil as of Mar. 2026. GuruFocus rates NSE:INDIAMART with a GF Score™ of 90/100 and a GF Value™ of ₹3,084.77 (Significantly Undervalued). The stock has 2 warning signs investors should review.

IndiaMART InterMESH's Operating Income for the three months ended in Mar. 2026 was ₹1,256 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was ₹5,055 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. IndiaMART InterMESH's Operating Income for the three months ended in Mar. 2026 was ₹1,256 Mil. IndiaMART InterMESH's Revenue for the three months ended in Mar. 2026 was ₹4,043 Mil. Therefore, IndiaMART InterMESH's Operating Margin % for the quarter that ended in Mar. 2026 was 31.07%.

Warning Sign:

IndiaMART InterMESH Ltd operating margin has been in a 5-year decline. The average rate of decline per year is -6%.

IndiaMART InterMESH's 5-Year average Growth Rate for Operating Margin % was -6.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. IndiaMART InterMESH's annualized ROC % for the quarter that ended in Mar. 2026 was 12.19%. IndiaMART InterMESH's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 1,368.17%.


IndiaMART InterMESH  (NSE:INDIAMART) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

IndiaMART InterMESH's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=5024 * ( 1 - 35.97% )/( (25689.12 + 27088.14)/ 2 )
=3216.8672/26388.63
=12.19 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=43661.18 - 910.86 - ( 28934.08 - max(0, 12270.11 - 29331.31+28934.08))
=25689.12

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=46246.03 - 871.76 - ( 31202.65 - max(0, 13649.72 - 31935.85+31202.65))
=27088.14

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

IndiaMART InterMESH's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=3160/( ( (246.18 + max(-11862.17, 0)) + (215.75 + max(-13054.4, 0)) )/ 2 )
=3160/( ( 246.18 + 215.75 )/ 2 )
=3160/230.965
=1,368.17 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(40.23 + 0 + 267.12) - (910.86 + 0 + 11258.66)
=-11862.17

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(54.95 + 0 + 440.25) - (871.76 + 0 + 12677.84)
=-13054.4

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

IndiaMART InterMESH's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=1256/4043
=31.07 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


IndiaMART InterMESH Operating Income Related Terms


IndiaMART InterMESH Operating Income Historical Data

* Premium members only.

The historical data trend for IndiaMART InterMESH's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

IndiaMART InterMESH Operating Income Chart

IndiaMART InterMESH Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2,966.30 2,372.85 2,950.52 4,922.29 5,056.05

IndiaMART InterMESH Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1,221.00 1,305.77 1,225.00 1,267.85 1,256.00
NSE:INDIAMART
90GF Score
IndiaMART InterMESH Ltd NSE:INDIAMART
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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IndiaMART InterMESH Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ₹5,055 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of ₹5,055 Mil mean?
IndiaMART InterMESH (NSE:INDIAMART) has a Operating Income of ₹5,055 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on IndiaMART InterMESH and its competitors.
Is IndiaMART InterMESH's Operating Income too high?
IndiaMART InterMESH's current Operating Income is ₹5,055 Mil. Overall, IndiaMART InterMESH has a GF Score™ of 90/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does IndiaMART InterMESH's Operating Income compare to GOOGL and META?
IndiaMART InterMESH's Operating Income of ₹5,055 Mil can be compared against companies in the Interactive Media industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for an Interactive Media company?
A good Operating Income depends on the Interactive Media industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on IndiaMART InterMESH and its competitors. IndiaMART InterMESH's current Operating Income is ₹5,055 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is IndiaMART InterMESH stock overvalued right now?
Based on GuruFocus' analysis, IndiaMART InterMESH (NSE:INDIAMART) is currently considered Significantly Undervalued. The stock's GF Value™ is ₹3,084.77, compared to a current price of ₹1,910.10 — trading 38.1% below its estimated fair value. The current Operating Income is ₹5,055 Mil. IndiaMART InterMESH's overall GF Score™ is 90/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For IndiaMART InterMESH (NSE:INDIAMART), the current Operating Income is ₹5,055 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is IndiaMART InterMESH (NSE:INDIAMART) Overvalued in 2026?

Based on GuruFocus' analysis, IndiaMART InterMESH stock appears to be undervalued. The current stock price of ₹1,910.10 is trading 38.1% below its estimated GF Value™ of ₹3,084.77. GuruFocus considers IndiaMART InterMESH to be Significantly Undervalued.

Key valuation signals for NSE:INDIAMART:

  • Operating Income: ₹5,055 Mil
  • GF Value™: ₹3,084.77 vs. price of ₹1,910.10 (38.1% below fair value)
  • GF Score™: 90/100 with 2 warning signs

No single metric tells the full story. See the NSE:INDIAMART stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


IndiaMART InterMESH Business Description

Other Exchanges 542726:India
Address Assotech Business Cresterra, 6th Floor, Tower 2, Plot No. 22, Sector 135, Noida, UP, IND, 201305
IndiaMART InterMESH Ltd operates as an online B2B marketplace for business products and services. It serves as a platform for Small and Medium Enterprises (SMEs), Large Enterprises, as well as individuals. Geographically, it derives a majority of its revenue from India. It earns revenue mainly through the sale of subscription packages.
90GF Score

Get the complete analysis for NSE:INDIAMART

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₹1,910.10
Price
₹3,084.77
GF Value