Just Dial Ltd
JUSTDIALJust Dial Ltd's earnings have outrun its stock. EPS grew +121.1% in a year against a −13.3% price move.
The sharpest disagreement: annual EPS moved +121.1% against a −13.3% price move — the market has not yet caught up with the delivery.
The price is in a downtrend (79 weeks in) while the P/E sits at the 50th percentile of its own 10-year range. Underneath, the last four quarters read improving — profit +38.1% year on year, and 80% of the last 3 years' profit arrived as cash. What settles it: whether the price catches up with earnings that have already moved.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Just Dial Ltd trades at ₹767, in a downtrend and 79 weeks into that stage. That is +19.5% against its own 200-day average. It sits at 74% of a 52-week range of ₹500 to ₹860. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 2 straight weeks.
Today the stock is in a downtrend — week 79 of stage 4, confirmed. At ₹767 it trades +19.5% versus its 200-day average and sits at 74% of its 52-week range (₹500–₹860).
Against the market, two honest reads. Cumulative: over the last 10.3 years the stock moved +14% while the NIFTY 500 moved +274% — behind the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 2 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 50th percentile of its own range.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Just Dial Ltd trades at 44.4× P/E, mid-range by its own standards (50th percentile). Its long-run median P/E is 44.1×, measured across 10.4 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 44.4× is mid-range by its own standards (50th percentile), against a long-run median of 44.1× measured over 10.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved +121.1% against a −13.3% price move — earnings outran the price, pushing the multiple DOWN its own range.
The price move, decomposed: over 5y, of the −6.5%/yr price move, ~−2.0%/yr came from earnings growth and ~−4.5 pp from the multiple (compressing); over 10y, of the +3.3%/yr price move, ~+0.1%/yr came from earnings growth and ~+3.2 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.
→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.
Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Just Dial Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 10 quarters across 2 curves, on partial evidence.
Why it matters: with too little history, an honest page says so instead of guessing a trajectory.
One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.
Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +23.4% | +15.6% | +3.2% | +8.5% |
| Profit | +122.7% | +19.3% | +11.9% | +11.6% |
| EPS | +121.1% | +7.2% | +6.0% | +9.5% |
| Share price | −13.3% | −2.7% | −6.5% | +3.3% |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
43.6/100 — rank 10 of 13 in E-Commerce - Platform - Utility · 87% evidence confidence
Just Dial Ltd scores 43.6 out of 100 against the 13 companies it is compared with in E-Commerce - Platform - Utility, ranking 10. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 19.9 + 11.7 + 5 + 7 = 43.6. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Just Dial Ltd reported ₹270 Cr of revenue in the Mar 24 quarter, +15.9% year on year. That is the 8th straight quarter of year-on-year growth. Over 10 years it has compounded at 8.5% a year. The last full year, FY24, came in at ₹1,043 Cr. The last four reported quarters add to ₹1,043 Cr.
Just Dial Ltd reported ₹270 Cr of revenue in the Mar 24 quarter, +15.9% year on year. That is the 8th straight quarter of year-on-year growth. Over 10 years it has compounded at 8.5% a year. The last full year, FY24, came in at ₹1,043 Cr. The last four reported quarters add to ₹1,043 Cr.
FY24 revenue came in at ₹1,043 Cr (+23.4% on the year), capping 10 years at 8.5% compound. The latest quarter (Mar 24) printed ₹270 Cr, +15.9% year on year — the 8th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +24.0% growth against the decade's 8.5% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +23.4% over the last 4 quarters against +27.0%/yr over the last 8 — rolling over; TTM profit +122.7% vs +127.7%/yr — rolling over.
→ Revenue grew — did margins hold as it scaled? Next: 26.0% this quarter (+12.0 pp YoY).
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Just Dial Ltd's operating margin is 26.0% in the Mar 24 quarter, +12.0 percentage points against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged 0.0% to 31.0%. The current quarter sits inside that band.
Just Dial Ltd's operating margin is 26.0% in the Mar 24 quarter, +12.0 percentage points against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged 0.0% to 31.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 26.0%, +12.0 pp against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged 0.0%–31.0%.
Why the margin moved: operating margin went +11.9 pp year on year while gross margin went +0.0 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.
→ Margins held — did that reach the bottom line? Next: profit +38.1% in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Just Dial Ltd earned ₹116 Cr of net profit in the Mar 24 quarter, +38.1% year on year. It is the 3rd consecutive quarter of growth. Full-year FY24 profit was ₹363 Cr. The 10-year compound rate is 11.6%. That is 43.0% of the quarter's revenue. The same quarter a year earlier earned ₹84.0 Cr.
Just Dial Ltd earned ₹116 Cr of net profit in the Mar 24 quarter, +38.1% year on year. It is the 3rd consecutive quarter of growth. Full-year FY24 profit was ₹363 Cr. The 10-year compound rate is 11.6%. That is 43.0% of the quarter's revenue. The same quarter a year earlier earned ₹84.0 Cr.
Mar 24 profit was ₹116 Cr, +38.1% year on year — the 3rd consecutive quarter of growth. On the full year, FY24 printed ₹363 Cr (+122.7%), and the 10-year compound rate is 11.6%.
Why profit moved: revenue contributed +15.9% and the margin +12.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.
Pace comparison, last four quarters: profit +33.1% vs revenue +24.0%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
→ Profit rose — but did the cash follow? Next: 80% of the last 3 years' profit arrived as cash.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 80% of Just Dial Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY24 that was ₹259 Cr of operating cash against ₹363 Cr of profit. After ₹11.0 Cr of capital spending, ₹248 Cr was left as free cash.
FY24: operating cash of ₹259 Cr against reported profit of ₹363 Cr, leaving free cash of ₹248 Cr after ₹11.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 80% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 80%: the cash cycle held roughly steady between FY19 and FY24 — so conversion tracks profitability rather than the cycle.
Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.
→ So follow the cash to where it goes. Next: a 0-day cycle and ₹117 Cr of building.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Just Dial Ltd's cash conversion cycle runs 0 days in FY24, down from 0 days in FY19. Capital spending ran ₹117 Cr over the last 3 years. At FY24 sales of ₹1,043 Cr each day of that cycle holds about ₹2.9 Cr, so roughly ₹0.0 Cr sits inside the business at any moment.
FY24: debtors at 0 days (an asset-light business — no inventory to speak of) — for a full cycle of 0 days, tighter than FY19's 0.
In money terms: at FY24 sales of ₹1,043 Cr, each day of the cycle holds about ₹2.9 Cr — so the 0-day loop keeps roughly ₹0.0 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹117 Cr over the last 3 fiscal years against ₹108 Cr of depreciation — building somewhat ahead of wear-and-tear. Capital work-in-progress stands at ₹0.0 Cr (FY24) — capacity paid for but not yet earning.
The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.
→ Does all this activity actually earn its cost of capital? Next: ROCE is 5% and the ROIC − WACC spread is −8.0 pp.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Just Dial Ltd earns a ROCE of 5% in FY24. That is up from a trough of 0% in FY22. Return on invested capital clears the cost of that capital by −8.0 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 34.8% net margin on 0.21× asset turns.
FY24 ROCE is 5%, recovered from a FY22 trough of 0% — the full ladder below shows the fall and the climb, undoctored.
🚨 Why the return is what it is — the wiring (FY24): 34.8% net margin × 0.21× asset turns × 1.21× balance-sheet leverage ≈ 8.8% on equity. Margin is doing the heavy lifting; leverage is modest — this is an earned return, not a borrowed one.
The capstone test — ROIC − WACC: 4.0% − 12.0% = a −8.0 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.02.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
Just Dial Ltd carries total debt of ₹85.0 Cr against shareholder equity of ₹5,106 Cr as of Jun 26, a debt-to-equity of 0.02 — effectively unlevered. On the annual view that ratio went from 0.02 in FY22 to 0.02 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Jun 26: total debt of ₹85.0 Cr against shareholder equity of ₹5,106 Cr — a debt-to-equity of 0.02. On the annual view, debt-to-equity went from 0.02 (FY22) to 0.02 (FY26). The returns on this page are earned, not borrowed.
→ Who owns this, and are they adding or leaving? Next: Foreign institutions cut 3.7 points over 8 quarters.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Foreign institutions cut 3.7 points of Just Dial Ltd over 8 quarters, the biggest move on the register. That takes foreign institutions to 3.2% of the company. Domestic institutions moved +1.0 points over the same window, to 9.9%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Foreign institutions: −3.7 points over 8 quarters to 3.2%; Domestic institutions: +1.0 points over 8 quarters to 9.9%; Promoters: +0.0 points over 8 quarters to 74.1%.
🚨 Why the register moved: foreign institutions drove it (−3.7 points), absorbed on the other side by domestic institutions (+1.0 points) — distribution into the market’s bid.
→ One last check: does the safety math agree? Next: the balance-sheet safety line.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Just Dial Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| Just Dial Ltd this page | 44.4× | ₹6,200 Cr | No read | |||
| One 97 Communications Ltd | 101.0× | ₹82,213 Cr | No read | |||
| Info Edge (India) Ltd | 53.1× | ₹75,573 Cr | Mixed | |||
| Urban Company Ltd | — | ₹20,011 Cr | No read | |||
| Pine Labs Ltd | 146.0× | ₹16,808 Cr | No read | |||
| TBO Tek Ltd | 64.0× | ₹15,517 Cr | Mixed | |||
| Indiamart Intermesh Ltd | 21.4× | ₹10,585 Cr | Topping out | |||
| MPS Ltd | 25.9× | ₹4,738 Cr | Mixed | |||
| MSTC Ltd | 19.6× | ₹4,275 Cr | Mixed | |||
| One Mobikwik Systems Ltd | — | ₹1,583 Cr | No read | |||
| Creative Newtech Ltd | 21.1× | ₹1,482 Cr | Mixed | |||
| Macfos Ltd | 47.3× | ₹1,214 Cr | No read | |||
| RNFI Services Ltd | 23.5× | ₹681 Cr | No read |
Frequently asked questions
What is Just Dial Ltd's share price today?
Just Dial Ltd trades at ₹767, −13.3% over the past year. The company is valued at ₹6,200 Cr. The stock sits at 74% of its 52-week range of ₹500–₹860, +19.5% versus its 200-day average. On the tape, the price is in a downtrend, 79 weeks in. — as of 24 July 2026.
What were Just Dial Ltd's latest quarterly results?
Just Dial Ltd reported revenue of ₹270 Cr and net profit of ₹116 Cr for the Mar 24 quarter. Revenue rose 15.9% and profit rose 38.1% year on year. Earnings per share were ₹13.61. The operating margin was 26.0%, 12.0 pp higher than a year earlier. — as of 24 July 2026.
What is Just Dial Ltd's revenue?
Just Dial Ltd reported revenue of ₹270 Cr in the Mar 24 quarter, +15.9% year on year. For the full FY24 fiscal year, revenue was ₹1,043 Cr (+23.4%). Over the last 10 years revenue compounded at 8.5% a year. — as of 24 July 2026.
What is Just Dial Ltd's profit?
Just Dial Ltd earned ₹116 Cr of net profit in the Mar 24 quarter, +38.1% year on year — the 3rd straight quarter of growth. Full-year FY24 profit was ₹363 Cr. The operating margin ran 26.0% in the latest quarter. — as of 24 July 2026.
What is Just Dial Ltd's market cap?
Just Dial Ltd's market capitalisation is ₹6,200 Cr at a share price of ₹767. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.
What is Just Dial Ltd's P/E ratio?
Just Dial Ltd trades at a P/E of 44.4×, at the 50th percentile of its own 10-year range, against a long-run median of 44.1×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.
Does Just Dial Ltd pay a dividend?
Not in its latest year — Just Dial Ltd's dividend payout was 0% of profit in FY24. It did record a payout in 2 of its last 12 reported fiscal years, so there is a history but no current dividend. This page holds the payout ratio, not a per-share amount. — as of 24 July 2026.
Is Just Dial Ltd overvalued?
On its own history, Just Dial Ltd looks mid-range against its own history: its P/E of 44.4× sits at the 50th percentile of its 10-year range (long-run median 44.1×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.
Is Just Dial Ltd growing?
Yes — Just Dial Ltd is growing: latest-quarter revenue +15.9% year on year, profit +38.1%, and the margin +12.0 pp at 26.0%. The 10-year compound rates are 8.5% (revenue) and 11.6% (profit). The earnings engine currently reads: improving — as of 24 July 2026.
How is Just Dial Ltd performing?
Just Dial Ltd is in a downtrend, 79 weeks in. Its latest quarter's revenue rose 15.9% and profit rose 38.1% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 2 weeks. This describes what the data did, not a rating. — as of 24 July 2026.
Is Just Dial Ltd in an uptrend?
No — the price is in a downtrend (week 79 of stage 4), trading +19.5% versus its 200-day average and at 74% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.
Is Just Dial Ltd beating the market?
On recent form, yes — Just Dial Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 2 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.3 years the stock moved +14% against the NIFTY 500's +274% — behind the index over the full window. — as of 24 July 2026.
Will Just Dial Ltd's share price go up?
This page publishes no price forecast for Just Dial Ltd. What it measures instead: the share price is ₹767, the price is in a downtrend 79 weeks in. Its P/E of 44.4× sits at the 50th percentile of its own 10-year range. — as of 24 July 2026.
Who owns Just Dial Ltd?
Promoters hold 74.1% of Just Dial Ltd, foreign institutions 3.2%, domestic institutions 9.9% and the public 12.8% (latest quarter). The biggest move on the register over the last two years: Foreign institutions cut 3.7 points over 8 quarters. — as of 24 July 2026.
Does Just Dial Ltd have too much debt?
No — Just Dial Ltd's debt-to-equity is 0.02, and operating profit covers the interest bill 24×. FY24 borrowings were ₹85.0 Cr against equity of ₹4,023 Cr. The returns on this page are earned, not borrowed — as of 24 July 2026.
What is Just Dial Ltd's capex?
Just Dial Ltd spent ₹117 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY24 alone that was ₹11.0 Cr, with ₹0.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.
What is Just Dial Ltd's cash flow?
Just Dial Ltd generated ₹259 Cr of operating cash flow in FY24 and ₹248 Cr of free cash flow after ₹11.0 Cr of capital spending. Reported profit that year was ₹363 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 24 July 2026.
Is Just Dial Ltd's profit real cash?
Yes — over the last 3 fiscal years, 80% of Just Dial Ltd's reported profit arrived as operating cash. In FY24, operating cash was ₹259 Cr against reported profit of ₹363 Cr. The cash then goes into a mix of the working-capital cycle and capacity. Cash-flow resolution is annual — as of 24 July 2026.
Where is Just Dial Ltd in its business cycle?
Just Dial Ltd's FY24 operating margin was 21.0%, against a 12-year band of 0.0%–31.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 26.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.
What could break the Just Dial Ltd story?
The sharpest disagreement: annual EPS moved +121.1% against a −13.3% price move — the market has not yet caught up with the delivery. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.
Is Just Dial Ltd a stock worth studying right now?
This is not investment advice. The machine read: Just Dial Ltd's earnings have outrun its stock. EPS grew +121.1% in a year against a −13.3% price move. The sharpest open question: whether the price catches up with earnings that have already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.