Brands
Indiamart clicks ahead as web services power steady growth in FY26
MUMBAI: It was a case of clicks doing the heavy lifting. Indiamart Intermesh Limited closed the December 2025 quarter with its core web business firmly in the driver’s seat, as steady demand from its B2B marketplace offset continued pressure in its accounting software segment.
According to the company’s audited consolidated financials for the quarter and nine months ended December 31, 2025, Indiamart Intermesh Limited reported total segment revenue of Rs 3,910 million for the December quarter, compared with Rs 4,016 million in September 2025 and Rs 3,543 million a year earlier. For the nine-month period, revenue stood at Rs 11,647 million, up from Rs 10,333 million in the corresponding period last year.
The web and related services segment remained the clear growth engine. It contributed Rs 3,681 million in the December quarter and Rs 10,747 million over nine months, underlining the resilience of Indiamart’s online B2B marketplace for products and services. Segment results from this business came in at Rs 1,352 million for the quarter and Rs 4,019 million for the nine-month period.
In contrast, the accounting software services business continued to weigh on performance. While revenue from the segment was Rs 335 million in the December quarter and Rs 900 million over nine months, the business reported losses of Rs 10 million for the quarter and Rs 95 million for the nine-month period, reflecting ongoing investment and competitive pressure.
After accounting for finance costs, depreciation and amortisation, and other income, profit before tax for the December quarter stood at Rs 1,186 million, compared with Rs 2,470 million in the preceding quarter and Rs 1,590 million in the year-ago period. For the nine months ended December 2025, profit before tax was Rs 5,695 million, up from Rs 4,877 million a year earlier.
The company also reported a share of net losses from associates amounting to Rs 146 million for the December quarter and Rs 380 million for the nine-month period.
On the balance sheet side, total segment assets stood at Rs 41,277 million as of December 31, 2025, while segment liabilities were reported at Rs 19,900 million, reflecting a stable asset base anchored by the web services business.
Indiamart said it continues to operate through two reportable segments, web and related services, and accounting software services based on product nature, risk profile and internal reporting structure. While software remains a work in progress, the numbers suggest the marketplace model continues to deliver, keeping Indiamart’s growth story firmly online rather than offline.
Brands
Safex Group appoints Richa Malhotra as group chief financial officer
Former Standard Chartered executive to steer finance
NEW DELHI: Safex Chemicals has appointed Richa Malhotra as group chief financial officer, strengthening its leadership team as the company prepares for the next phase of expansion in specialty chemicals and global agrochemicals.
In her new role, Malhotra will lead the group’s financial strategy, capital architecture and governance framework as Safex scales operations across multiple verticals including branded formulations, specialty chemicals and contract manufacturing.
A chartered accountant and graduate of Shri Ram College of Commerce, University of Delhi, Malhotra brings more than two decades of experience in business finance, strategic planning, corporate banking and client management.
Before joining Safex, she served as executive director, financial markets at Standard Chartered, where she led teams across India and Sri Lanka and worked closely with large corporates, global subsidiaries and commercial banking clients. Her expertise includes capital structuring, treasury operations, risk management and financial markets led financing solutions.
Safex Group promoter director and joint managing director Piyush Jindal, said the appointment comes at a pivotal time for the company. “Safex stands at an inflection point as we build an integrated platform across branded formulations, specialty chemicals and contract manufacturing. Richa’s experience across global financial institutions will strengthen our financial discipline and help unlock value across the group,” he said.
Malhotra said she was looking forward to contributing to the company’s next chapter of growth. “Safex has built a strong reputation over 35 years with its focus on integrity, innovation and agricultural insight. I am excited to be part of the organisation as it expands its footprint in India and global markets,” she said.
The appointment comes as Safex continues to strengthen its financial foundations and scale operations internationally, positioning itself for future growth milestones.
