IndiaMART slips to near six-year low on persistent decline in paying subscribers

IndiaMART InterMESH

22/07/2026 06:05

** IndiaMART InterMESH INMR.NS drops as much as 7.6% to nearly six-year low of 1,773 rupees; last down 5.6%
** B2B online marketplace operator's paying subscribers drop by 1,852 in Q1, compared to about 1,200 and 1,000 lost in the previous two quarters 
** Co reported Q1 earnings just ahead of market close on Tuesday
** Nomura says gross addition remains anaemic and customer churn remains elevated, aggravating the subscriber addition problem
** Brokerage firm lowers PT to 1,810 rupees from 1,918 rupees, retains "Reduce" rating
** Jefferies says decline in paid supplier base for third straight quarter was a key negative surprise
** Adds that continued weakness in subscriber additions can disrupt network effects historically enjoyed by the platform
** Stock rated "hold" on average by 16 brokerage firms, median PT at 2,174.5 rupees, per data compiled by LSEG
** YTD, stock down 17%


 (Reporting by Vivek Kumar M)
 ((VivekKumar.M@thomsonreuters.com;))