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Just Dial

JUSTDIAL NSE
₹676.50 No trade today
P/E
11.43
View as Markdown
MCP
Close 4 Nov 2026 ₹676.50 −76.80 −10.2% 1Y
Start ₹753.30

Key Fundamentals

MicrocapRetailConsumer Services

Price-based figures as of · EPS basis: Standalone · TTM

ROCE
7.01%
Debt to Equity
0.02
EPS (TTM)
₹59.21
Book Value
₹632.15
Market Cap
—
P/E (TTM)
11.43
P/B
1.07
ROE
3.38%
Dividend Yield
0.00%
EBITDA
₹522 Cr
52W High
₹838.30
52W Low
₹480.50
Volume
0

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

61 Good

Data confidence 100/100

Category scores

Quality
46
Average
Returns, margins, earnings quality 22% weight
Valuation
79
Strong
Cheap vs sector & own history 24% weight
Growth
29
Poor
Sales & profit trajectory 9% weight
Financial Health
75
Strong
Solvency, leverage, coverage 9% weight
Momentum
67
Strong
Trend strength, vol-adjusted 12% weight
Ownership
57
Good
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Company is almost debt free.
  • Stock is trading at 1.09 times its book value

Weaknesses

3
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 3.71% over last 3 years.
  • Earnings include an other income of Rs.317 Cr.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish865
OscillatorsBearish261
Moving AveragesStrong Bearish604

Key readings

RSI (14)
48.54
Neutral
MACD (12,26,9)
−1.40
Bearish
SMA (50)
679.13
Bearish
SMA (200)
617.25
Bullish

As of

Analyst Rating

Based on 6 analysts
BUY83%

5 of 6 analysts rate Buy, 0 Hold, 1 Sell.

As of

BUY
5
83%
HOLD
0
0%
SELL
1
17%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+6.16%
5Y+12.46%
3Y+12.84%
1Y+6.30%
TTM+7.25%

Net profit

Net profit growth by window
10Y+13.27%
5Y+18.36%
3Y+45.01%
1Y−14.90%
TTM−16.58%

Operating cash flow

Operating cash flow growth by window
10Y+6.16%
5Y+14.12%
3Y+14.54%
1Y−13.50%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+7.93 pp
5Y+6.53 pp
3Y+19.31 pp
1Y+0.16 pp
TTM−0.62 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹719 Cr
Mar 2018₹782 Cr
Mar 2019₹892 Cr
Mar 2020₹953 Cr
Mar 2021₹675 Cr
Mar 2022₹647 Cr
Mar 2023₹845 Cr
Mar 2024₹1,043 Cr
Mar 2025₹1,142 Cr
Mar 2026₹1,214 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹121 Cr
Mar 2018₹143 Cr
Mar 2019₹207 Cr
Mar 2020₹272 Cr
Mar 2021₹214 Cr
Mar 2022₹71.00 Cr
Mar 2023₹163 Cr
Mar 2024₹363 Cr
Mar 2025₹584 Cr
Mar 2026₹497 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹383 Cr
Reported High Mean Low

Analyst consensus here uses a different definition from reported ebitda (they differ 2.1× on periods where both exist), so the forecast is shown on its own rather than joined to the reported line.

AI Analysis — Bull vs Bear

Generated 6 Jul 2026
AI opinion · based on fundamentals
Risk high

Just Dial Ltd trades at a PE of 9.4x and 0.92x book value with a market cap of Rs.4,660 Cr, having delivered 30% profit CAGR over 5 years but seen its stock decline 41% over the past year. The company is virtually debt-free but faces concerns around capital allocation, working capital efficiency, and quality of earnings.

Bull Case 8
  • Stock trades at 0.92x price-to-book, below its book value, suggesting potential undervaluation on an asset basis
  • PE ratio of 9.4x is significantly below broader market multiples, indicating compressed earnings valuation
  • Company is almost debt-free, providing financial flexibility and low balance sheet risk
  • Compounded profit growth of 30% CAGR over 5 years demonstrates strong earnings recovery trajectory
  • TTM profit growth of 93% shows accelerating earnings momentum in the most recent period
  • ROE has improved from 5% (5-year average) to 11% in the last year, indicating improving capital efficiency
  • Revenue has compounded at 12% CAGR over 5 years and 13% over 3 years, showing consistent top-line growth
  • 10-year compounded profit growth of 22% CAGR demonstrates long-term earnings compounding ability
Bear Case 8
  • Stock has declined 41% over the past 1 year and delivered negative 11% CAGR over 5 years, reflecting sustained value destruction for shareholders
  • Working capital days have surged from 379 days to 1,515 days, signaling severe deterioration in operational efficiency
  • Earnings include other income of Rs.313 Cr, raising concerns about quality and sustainability of reported profits
  • Company pays zero dividend despite reporting repeated profits, offering no income return to shareholders
  • 3-year average ROE of only 7% remains below cost of equity for most investors, indicating subpar capital allocation
  • TTM revenue growth has decelerated to 6% from the 3-year CAGR of 13%, suggesting slowing business momentum
  • 10-year stock CAGR of -1% shows the company has failed to create any shareholder value over a full market cycle
  • 5-year ROE average of just 5% indicates prolonged period of weak return generation on equity capital

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

121d ago

TL;DR: No material positive or negative news flow for Just Dial in recent weeks. All three filings are routine SEBI compliance disclosures confirming zero share encumbrance by promoters including Reliance Retail. The absence of pledged shares is a mild governance positive but standard for the company. With no operational or earnings updates, the near-term narrative remains driven by broader market sentiment rather than company-specific catalysts.

Neutral 3
  • Promoter group confirms no encumbrance Jul 1

    Anita Mani (Promoter Group) declared no encumbrance on Just Dial shares held during FY 2025-26 under SEBI Takeover Regulations.

  • Reliance Retail no share pledge Jun 17

    Reliance Retail Ventures Limited, promoter of Just Dial, confirmed zero encumbrance on shares held during FY 2025-26 under SEBI regulations.

  • Promoter Ramani Iyer no pledge Jun 20

    Ramani Iyer declared no encumbrance on Just Dial shares for FY 2024-25, complying with SEBI Takeover Regulations.

Quarterly Results

₹ Cr
JUSTDIAL quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
247
261
265
270
281
285
287
289
298
303
306
307
327
343
Expenses
210
212
205
200
200
203
201
203
211
216
210
218
240
252
Operating Profit
37
49
60
71
81
82
87
86
86
87
95
89
87
91
OPM %
15%
19%
23%
26%
29%
29%
30%
30%
29%
29%
31%
29%
27%
26%
Other Income
81
58
75
91
87
114
77
109
127
73
64
49
131
55
Interest
2
2
2
3
2
2
3
3
3
2
2
2
2
2
Depreciation
10
12
12
12
12
12
12
12
12
11
11
11
10
9
PBT
106
92
121
147
154
182
149
180
199
147
146
125
207
135
Tax %
21%
22%
24%
22%
8%
15%
12%
12%
20%
19%
19%
20%
20%
20%
Net Profit
83
72
92
116
141
154
131
158
160
119
118
100
166
108
EPS (₹)
9.81
8.44
10.82
13.6
16.61
18.12
15.44
18.53
18.77
14.04
13.87
11.76
19.54
—

Sep 2026: from the results filed on 19 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
JUSTDIAL profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
590
668
719
782
892
953
675
647
845
1,043
1,142
1,214
1,243
Expenses
424
523
609
617
663
680
520
649
759
826
807
856
885
Operating Profit
166
144
110
164
229
273
155
−2
86
217
335
358
358
OPM %
28%
22%
15%
21%
26%
29%
23%
−0.3%
10%
21%
29%
29%
29%
Other Income
49
80
87
66
93
140
150
122
142
305
387
313
317
Interest
0
0
0
0
0
9
7
7
8
9
11
9
8
Depreciation
24
31
40
36
34
52
42
30
32
46
47
45
44
PBT
191
193
156
194
288
352
255
83
188
466
664
616
624
Tax %
27%
26%
22%
26%
28%
23%
16%
15%
13%
22%
12%
19%
—
Net Profit
139
143
121
143
207
272
214
71
163
363
584
497
504
EPS (₹)
19.7
20.55
17.45
21.25
31.93
41.96
34.62
8.49
19.32
42.67
68.7
58.44
59.21
Div. Payout %
10%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
—

Balance Sheet

₹ Cr
JUSTDIAL balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
70
69
70
67
65
65
62
84
84
85
85
85
Reserves
603
670
836
912
934
1,223
1,202
3,402
3,583
3,938
4,521
5,021
Borrowings
0
0
0
0
4
76
63
55
68
85
100
85
Other Liabilities
291
309
360
431
546
468
459
491
601
752
814
853
Total Liabilities
965
1,048
1,266
1,410
1,549
1,832
1,786
4,033
4,337
4,861
5,521
6,044
Fixed Assets
92
139
156
149
126
172
138
134
152
147
143
109
CWIP
0
9
9
0
6
0
0
0
30
0
0
0
Investments
773
796
965
1,143
1,291
1,553
1,512
3,798
4,051
4,608
4,968
5,644
Other Assets
100
105
136
118
126
107
137
101
103
107
410
292
Total Assets
965
1,048
1,266
1,410
1,549
1,832
1,786
4,033
4,337
4,861
5,521
6,044

Cash Flow

₹ Cr
JUSTDIAL cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
185
148
136
226
276
153
139
39
179
259
311
269
Investing
−158
25
−118
−137
−77
−127
174
−2,187
−163
−230
−290
−242
Financing
−14
−181
1
−84
−217
−27
−291
2,109
−23
−27
−29
−31
Net Cash Flow
12
−8
19
5
−17
−1
22
−38
−7
2
−7
−4
Free Cash Flow
117
55
104
205
260
150
135
25
129
282
305
265
CFO/OP
145
142
145
165
143
81
121
−2,092
229
134
114
96

Ratios

JUSTDIAL financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
0
0
0
0
0
0
0
0
0
0
0
0
Cash Conversion Cycle
0
0
0
0
0
0
0
0
0
0
0
0
Working Capital Days
−166
−154
−161
−181
−178
−145
−190
−211
−206
−192
−185
−182
ROCE %
26%
13%
19%
21%
29%
30%
12%
0%
2%
5%
7%
7%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Just Dial insights

58 extracted metrics across FY09–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 74.14%
  • DIIs 11.84%
  • Public 9.11%
  • FIIs 2.62%
  • Others 2.29%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

  • Q1 FY27 concall · Jul 2026
    PPT
  • Concall · Apr 2026
    PPT
  • Q3 FY26 concall · Jan 2026
    PPT
  • Q2 FY26 concall · Oct 2025
    PPT
  • Q1 FY26 concall · Jul 2025
    PPT

Frequently Asked Questions about Just Dial

What does Just Dial Ltd do?
Justdial is the market leader in local search engine segment in India. The Company provides local search-related services to users across India in a platform-agnostic manner. The multi-platform offering includes App (Android, iOS), mobile website, desktop /PC, voice and text.
Where is Just Dial Ltd (JUSTDIAL) listed?
Just Dial Ltd trades as JUSTDIAL on the NSE and under code 535648 on the BSE.
Which sector does Just Dial Ltd belong to?
Just Dial Ltd is classified under the Retail sector, in the E-Services industry.
What is the PE ratio of Just Dial Ltd?
Just Dial Ltd trades at a PE ratio of 11.43 as of 4 Nov 2026, on earnings per share of ₹59.21, against a book value of ₹632.15 per share.
What is the 52-week high and low of Just Dial Ltd?
Over the last 52 weeks Just Dial Ltd has traded between ₹480.5 and ₹838.3 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Just Dial Ltd?
Just Dial Ltd reported a return on equity of 3.38%. Its debt-to-equity ratio is 0.02.

Company Information

Justdial is the market leader in local search engine segment in India. The Company provides local search-related services to users across India in a platform-agnostic manner. The multi-platform offering includes App (Android, iOS), mobile website, desktop /PC, voice and text.

Website justdial.com
CEO Mr. Venkatachalam Sthanu-Subramani Mani
Listed 5 Jun 2013
Face Value ₹10

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