AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Change in Directorate 31 Aug - Just Dial AGM on Aug 31, 2026 passed FY26 accounts and director appointment resolutions.
Source: Bse
Just Dial Limited (JUSTDIAL)
Micro CapServices stocks · Micro cap · NSE
Justdial connects sellers of products & services with potential buyers/users, operating India's leading local search engine & online marketplace. It reported 192.9M quarterly unique visitors in Q1 FY27, 56.1M listings, and 639,200 active paid campaigns, leveraging a scalable, profitable prepaid business model.
₹767.25
+35.50 · +4.85%
Market cap ₹6,224 Cr
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:31 pm ISTDetails
Quote21 Oct, 03:31 pm IST
Base fundamentals17 Oct 2026 · screener
Official result overlay30 Sept 2026 · nse-xbrl
Latest result19 Oct, 08:22 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Services P/E 17.7 (n=143)
Technical timing lens
Trend score and candlestick chart
55NeutralRSI overbought · MACD +
Stock trend: 55
Sector RS: —
Services FPI tailwindFlow only
FPI equity flow was positive in both fortnights, but exact sector-index confirmation is unavailable. View sector evidence
Technical chart
JUSTDIALD candles · FIT view+43.0%Latest close ₹767.25 on 2026-10-21
Bar
+8.4%
RSI
74
MACD hist
11.50
52W pos
80%
2026-10-21O ₹708.05H ₹790.00L ₹688.60C ₹767.25Vol 72.1L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
JUSTDIALNifty 500
- JUSTDIAL
- +3.2%
- Nifty 500
- -6.5%
- Vs Nifty 500
- +9.7 pp
Chart stats
21 Oct 2026- From 52W high
- -12.7%
- 52W range position
- 72%
- ATR (14)
- 4.3%
- Volume vs 20D
- 7.23x
- Avg traded value
- ₹99.5 Cr
- 20D price channel
- ₹625.4 - ₹802
₹878.6
₹480.5 - ₹878.6
₹32.7
Latest completed session
20-session average
36.6% annualized volatility
No exact NSE sector index is mapped for this company. Nifty 500 remains the broad-market comparison.
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is weak.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · FAIR VALUE48
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad0
Revenue +13.1% · PAT -9.4% YoY
Technical
Neutral55
Price trend and sector-relative-strength timing.
Valuation
Legacy model-21.5%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence73
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Sept 2026
Bad · 0/100PAT -9% YoY · margin compression · Rev +13% YoY
Filed 19 Oct 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹342.8 Cr | +13.1% | +4.7% |
| EBITDA | ₹90.7 Cr | +4.2% | +3.7% |
| Operating margin | 26.4% | -256 bps | -25 bps |
| PAT | ₹107.8 Cr | -9.4% | -35.1% |
| PAT margin | 31.4% | -782 bps | -1931 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 12.65
- P/B
- 1.19
- EV/EBITDA
- 15.30
- Market Cap
- 6223.53Cr
Profitability
- ROE
- 3.38%
- ROCE
- 7.01%
- ROA
- 8.34%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 12.00%
- EPS 5Y
- 4.00%
- Revenue 3Y
- 13.00%
- EPS 3Y
- 52.00%
Balance Sheet
- Debt/Equity
- 0.02
- Interest Coverage
- 44.75×
- Altman Z
- 5.75
- Book Value
- 600.00
Cash Flow
- FCF Yield
- 0.45%
- FCF Positive Y
- 11/5
- OCF
- 269.00 Cr
- EPS TTM
- 57.84
Shareholding
- Promoter Hold
- 74.14%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 65%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 1,043+23.4% vs prev
Net Profit
₹ CrLatest: 363+122.7% vs prev
Return on Equity
%Latest: 9.0+102.7% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term uptrend intact. RSI 74. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 roughly flat — short-term momentum stalled.
- RSI(14) at 74 — overbought zone; risk of mean reversion.
- MACD above signal, histogram expanding — bullish momentum building.
- 8% off 52W high · 60% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
70
RS percentile
Stage 2 UptrendRecent S2
1M return
+9.4%
3M return
-2.1%
6M return
+34.2%
1Y return
-7.6%
RS 1D
+5
RS 20D
+14
Sector rank
#12
Industry rank
-
Stage evidence
- Price is 20.6% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +2.8%.
50-DMA
price above
200-DMA
price above
S2 entered
22 Sept 2026
S2 age
19 trading sessions
Sector
neutral
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
262 observations
21 Oct 2026Value 96.16+5.83%
RS vs Nifty 50096
Valuation & peers
U-Score 48 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 48 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Financial Turnaround
Fundamental score breakdown
U band · FAIR VALUEValuation13/30
Growth12/25
Quality0/20
Balance Sheet12/15
Cash Flow6/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
48
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
48/100 · legacy band FAIR VALUE
Positive drivers
- Piotroski is strong at 8/9.
- Balance sheet contributes 12/15 to the score.
- Cash flow contributes 6/10 to the score.
Main drags
- Fair-value margin of safety is negative at -21.5%.
- Quality is weaker at 0/20; verify the latest quarterly trend.
- Valuation is weaker at 13/30; verify the latest quarterly trend.
Sector valuation model
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Primary lens
PE, EV/EBITDA, margin of safety, and FCF yield together.
Secondary checks
ROE/ROCE, growth, cash conversion, leverage, promoter risk.
Main risk check
One cheap metric is not enough if quality or cash flow is weak.
PE
12.7
PB
1.2
EV/EBITDA
15.3
ROE
3.4%
ROCE
7.0%
FCF Yield
0.5%
Debt/Equity
0.0
MoS
-21.5%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
48
Previous: 48
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
-21.5%
Previous: -15.8%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
51
51
35
35
33
33
50
50
50
48
48
48
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹883.65
+13.2% MoS
Growth-justified P/E
10.9
Growth-justified Value
₹631.61
-21.5% MoS
PEG
1.98
Comparable companies
Peers
Business-comparable peers in Services — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
CARTRADE
Large
Cartrade Tech Limited
Internet Services
match 42
38
61.5
9.7%
-136%
WATCHLIST
NAUKRI
Mid
Info Edge (India) Limited
Internet Services
match 38
42
53.6
1.8%
-86%
WATCHLIST
SWIGGY
Mid
Swiggy Limited
Internet Services
match 21
15
—
-29.1%
—
OVERVALUED
TVSSCS
Micro
TVS Supply Chain Solutions Limited
Logistics
match 18
32
78.6
9.7%
-213%
WATCHLIST
NESCO
Micro
Nesco Limited
Real Estate & IT
match 17
56
17.8
14.8%
+34%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis under stressReviewed 2026-07-12T00:40:44.042Z
Management commentary snapshot
Q1 FY27 Operating Revenue grew 9.9% YoY to Rs 3,275M, with EBITDA up 1.2% YoY to Rs 874M, but margins contracted 232 bps YoY to 26.7%. Net Profit rose 4.1% YoY to Rs 1,663M, boosted by other income. Unique visitors were flat YoY, while paid campaigns increased 3.5% YoY.
Operating revenue growth is healthy, but EBITDA margin compression and flat unique visitors YoY suggest underlying pressure on core profitability and user engagement. Reliance on other income for PAT growth is a concern. Salesforce expansion is positive, but its impact on efficiency needs monitoring.
Current business mix
Traffic Share by Platform Q1 FY27
Latest issuer-disclosed distribution across 3 reported categories.
Mobile Site & Apps86.5%
Desktop/PC10.6%
Voice2.9%
Growth engines
Increased User Engagement
160.5 million ratings & reviews, with mobile-verified, unbiased ratings and intelligent tags.
Comprehensive Database
56.1 million active listings as of Q1 FY27, growing 13.0% YoY.
Salesforce Expansion
Total sales team strength increased to 10,965 employees, up 7.8% YoY.
JD Mart B2B Platform
Exclusive B2B platform for businesses to connect with other businesses.
Capacity and execution
Salesforce Expansion
Total sales team strength increased to 10,965 employees in Q1 FY27, up 7.8% YoY and 4.7% QoQ.
Nationwide Presence
On-the-ground presence in 250+ cities pan India, covering 11,000+ pin codes.
Tailwinds
First Mover Advantage
Company holds a first-mover advantage in the Indian Local Search Market.
Strong Brand Recognition
Evidenced by 192.9 million unique quarterly visitors in Q1 FY27.
Prepaid Business Model
Efficient and profitable business model with a strong financial profile due to prepaid nature.
Headwinds
EBITDA Margin Contraction
Operating EBITDA margin declined by 232 bps YoY and 220 bps QoQ to 26.7% in Q1 FY27.
Flat Unique Visitors YoY
Unique visitors were 192.9 million in Q1 FY27, a -0.2% YoY change.
Risk radar
Reliance on Other Income
Net Profit is heavily influenced by mark-to-market gains on treasury portfolio, which can have high quarterly fluctuations.
Rising Employee Costs
Employee costs as a percentage of operating revenue increased to 61.0% in Q1 FY27 from 59.9% in Q4 FY26.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
YoY comparison is crucial for understanding long-term growth and seasonal trends in a services business. QoQ is important to track sequential momentum in user engagement, paid campaigns, and the impact of salesforce additions.
Sector KPIs management disclosed
Unique Visitors
192.9 million in Q1 FY27 (-0.2% YoY, 5.8% QoQ).
Active Paid Campaigns
639,200 in Q1 FY27 (3.5% YoY, 1.2% QoQ).
Active Listings
56.1 million in Q1 FY27 (13.0% YoY, 2.7% QoQ).
Ratings & Reviews
160.5 million in Q1 FY27 (4.4% YoY, 2.2% QoQ).
Management forward view
Leadership Transition
Mr. Dinkar Ayilavarapu appointed Chief Executive Officer (designate) effective August 1, 2026, replacing Mr. V.S.S. Mani.
SME Value Proposition Focus
Management emphasizes creating websites, enabling digital payments (JD Pay), and enhancing ratings for SMEs.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Operating EBITDA Margin | 26.7% | Stabilization or improvement after recent declines. |
| Unique Visitors Growth | -0.2% YoY | Sustained positive YoY growth to indicate demand recovery. |
| Paid Campaigns Growth | 3.5% YoY | Acceleration in growth, indicating stronger monetization efforts. |
| Revenue per Sales Employee | Not explicitly disclosed, but salesforce grew 7.8% YoY. | Efficiency gains from the expanded salesforce translating into higher revenue per employee. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
73Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 72nd percentile of the scored universe and 80th percentile within Services. Main check: financial discipline is weak at 48/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
117 docs text-extracted · 40 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
72nd percentile
overall median 67 · Services: 80th pctile, median 66 · Micro: 54th pctile, median 73
Evidence depth
Financial-only
117 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
96
strong · leverage and solvency
Discipline
48
watch · capital discipline
Results
54
watch · quarterly consistency
Trust positives
- ▸Promoter holding is 74.1%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 0.5%.
- ▸11 years of positive FCF.
Trust risks
- ▸ROCE is low at 7%.
- ▸ROE is low at 3.4%.
- ▸1/4 latest quarters had positive YoY PAT growth.
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Just Dial Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Investor presentationJul 2026
Jul 2026 · PPT
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Press Release / Media Release 11 Jul - Just Dial reported Q1 FY27 revenue of ₹327.5 crore, net profit of ₹166.2 crore, and cash investments of ₹6,022.1 crore.
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Change in Management 10 Jul - Just Dial approved Q1 FY27 results, appointed Dinkar Ayilavarapu CEO and Dinesh Taluja CFO; Taluja resigned as director.
Source: Bse
AnnouncementMay 2026
May 2026 · Announcement under Regulation 30 (LODR)-Change in Management 5 May - Rakesh Ojha, CBO-South and West, resigned effective May 5, 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 7 May - Allotment of Equity Shares pursuant to Employees Stock Option Scheme(s).
Source: Bse
Investor presentationApr 2026
Apr 2026 · PPT
Source: Bse
Investor presentationApr 2026
Apr 2026 · PPT
Source: Bse
Announcement
Contact Details Of Key Managerial Personnel Of The Company Authorised Under Regulation 30(5) Of SEBI (LODR) Regulations, 2015 15 Apr - Just Dial updated authorized KMP contact details under Regulation 30(5).
Source: Bse
Annual report
Annual Report 2026 from bse
Source: Bse
Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Bse
Investor presentationJan 2026
Jan 2026 · PPT
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.