20-quarter listed-company comparison

E-Commerce - Platform - Utility Stocks in India

E-Commerce - Platform - Utility: One 97 Communications Ltd owns the largest revenue base; TBO Tek Ltd has the fastest current growth.

01 · the index people search for

Nifty E-Commerce - Platform - Utility Index — Constituents & Performance

The E-Commerce - Platform - Utility companies below are the listed Indian E-Commerce - Platform - Utility universe this page tracks — the same constituent set people search for as the Nifty E-Commerce - Platform - Utility index. Every figure is equal-weighted across those companies, so one large constituent cannot set the reading. Each number carries its own as-of date.

02 · the sector itself · before any single company

How has E-Commerce - Platform - Utility moved against NIFTY 500?

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this sector is 6% ahead of NIFTY 500. Earnings across its companies grew 16% on average over the last four reported quarters. It has been ahead of NIFTY 500 on a rolling three-month view for 10 weeks running.

BREAKING OUT · ahead 10w✓Moving with the index8 of 13 companies ahead of NIFTY 500 by 5% or more over three months

RS ↑10w · 9/13 >200d (+2) · 8/13 lead (+1) · EPS 9/12↑

E-Commerce - Platform - Utility, equal-weighted, based at 200 NIFTY 500, same base, same start trailing 12-month earnings per share rising falling

Both lines start at 200 in the same week, so the distance between them is the whole story: the sector line is an equal-weighted index of its 13 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the sector taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

03 · sector relative strength, before individual stocks

Is E-Commerce - Platform - Utility outperforming NIFTY 500?

E-Commerce - Platform - Utility has underperformed NIFTY 500 by 4.9% over the last 52 weeks. Over 13 weeks the gap is a lead of 14.7%. 8 of 11 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Creative Newtech Ltd is the strongest against the sector itself at +39.7%.

+14.7%Sector vs NIFTY 500 · 13 weeks

-4.9%Sector vs NIFTY 500 · 52 weeks

8/11Stocks leading NIFTY 500

5/11Stocks leading sector

Sector metric: 29.8 as of 2026-07-19 · CONSOLIDATION · falling.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

E-Commerce - Platform - Utility has underperformed NIFTY 500 by 4.9% over 52 weeks and 14.7% over 13 weeks. 8 of 11 covered companies beat NIFTY on Mansfield relative strength, while 5 of 11 beat the sector itself. One 97 Communications Ltd leads with revenue of ₹8,967 crore, based on 13 of 13 comparable companies through Jun 2026.

Companies

complete canonical membership

Combined market value

₹2.5 L Cr

One 97 Communications Ltd

Revenue growing

11/12

positive TTM year-on-year growth

Beating NIFTY 500

8/11

positive Mansfield relative strength

Comparing 5 of 13

04 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%

Creative Newtech Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 82.8% evidence confidence.

Indiamart Intermesh Ltd looks inexpensive relative to peers or its own history, but its earnings trajectory has not yet earned the valuation signal.

How this score is built, and what the marks mean

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

Company	Score	Price stage	Growth & earnings/35	Capital efficiency/25	Valuation/20	Relative strength/20
1Creative Newtech LtdCNL	70.0/100Favorable setup83% evidence	BREAKING OUT	24.5/35 Revenue 52.3% · PAT 32.1% · OPM change 0.3 pp 83% evidence	13.2/25 ROCE 18.8% · OPM 4% 95% evidence	12.3/20 P/E 21.2× · PEG — 50% evidence	20.0/20 RS sector 39.7% · RS bench 43.2% · 1Y 51.1%7 of 12 weeks ahead 100% evidence
Exact sum: 24.5 + 13.2 + 12.3 + 20 = 70 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2MPS LtdMPSLTD	63.5/100Mixed-positive evidence94% evidence	TURNING	19.0/35 Revenue 10% · PAT 19% · OPM change 7 pp 100% evidence	22.0/25 ROCE 39.3% · OPM 34% 100% evidence	13.6/20 P/E 25.2× · PEG 0.43 100% evidence	8.9/20 RS sector -13.2% · RS bench 36.1% · 1Y 12.1%10 of 10 weeks ahead 70% evidence
Exact sum: 19 + 22 + 13.6 + 8.9 = 63.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3Indiamart Intermesh LtdINDIAMART	63.2/100Mixed-positive evidence94% evidence	ASLEEP	15.3/35 Revenue 12.7% · PAT -16.6% · OPM change 0 pp 100% evidence	19.8/25 ROCE 28% · OPM 32% 100% evidence	18.2/20 P/E 21.9× · PEG 0.68 100% evidence	9.9/20 RS sector 3.9% · RS bench -19.7% · 1Y -29.7%0 of 10 weeks ahead 70% evidence
Exact sum: 15.3 + 19.8 + 18.2 + 9.9 = 63.2 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
4Macfos Ltd543787	60.5/100Mixed-positive evidence71% evidence	LEADER	19.1/35 Revenue 21.1% · PAT 43.1% · OPM change 3.3 pp 83% evidence	18.9/25 ROCE 33.8% · OPM 13.6% 76% evidence	9.7/20 P/E 44.4× · PEG — 15% evidence	12.8/20 RS sector 23.3% · RS bench 28.1% · 1Y 47.2%12 of 12 weeks ahead 100% evidence
Exact sum: 19.1 + 18.9 + 9.7 + 12.8 = 60.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5RNFI Services LtdRNFI	58.3/100Thin evidence · provisional57% evidence	ASLEEP	21.7/35 Revenue — · PAT — · OPM change 2.4 pp 45% evidence	16.4/25 ROCE 27.3% · OPM 6.7% 95% evidence	10.6/20 P/E 24.6× · PEG — 15% evidence	9.6/20 RS sector 2.6% · RS bench -8% · 1Y 12.2%0 of 10 weeks ahead 70% evidence
Exact sum: 21.7 + 16.4 + 10.6 + 9.6 = 58.3 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
6MSTC LtdMSTCLTD	56.7/100Mixed-positive evidence72% evidence	TURNING	17.3/35 Revenue 18.6% · PAT -46.4% · OPM change 5 pp 83% evidence	20.1/25 ROCE 30.3% · OPM 64% 76% evidence	9.9/20 P/E 19.9× · PEG — 50% evidence	9.4/20 RS sector -5.3% · RS bench 22.1% · 1Y 23.3%7 of 10 weeks ahead 70% evidence
Exact sum: 17.3 + 20.1 + 9.9 + 9.4 = 56.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
7Pine Labs LtdPINELABS	53.5/100Mixed-positive evidence63% evidence	ASLEEP	28.2/35 Revenue 19.5% · PAT 100% · OPM change 6 pp 100% evidence	6.8/25 ROCE 4.2% · OPM 13% 100% evidence	8.5/20 P/E 124× · PEG — 15% evidence	10.0/20 RS sector — · RS bench — · 1Y —0 of 10 weeks ahead 0% evidence
Exact sum: 28.2 + 6.8 + 8.5 + 10 = 53.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8One 97 Communications LtdPAYTM	52.8/100Mixed-positive evidence87% evidence	TURNING	25.2/35 Revenue 22.6% · PAT 100% · OPM change 4.2 pp 100% evidence	4.8/25 ROCE 5% · OPM 8% 100% evidence	8.3/20 P/E 106× · PEG 1.85 65% evidence	14.5/20 RS sector 12.8% · RS bench 10.7% · 1Y 25.8%3 of 10 weeks ahead 70% evidence
Exact sum: 25.2 + 4.8 + 8.3 + 14.5 = 52.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
9Info Edge (India) LtdNAUKRI	50.4/100Mixed-positive evidence65% evidence	TURNING	22.4/35 Revenue 15.2% · PAT 34.7% · OPM change 7 pp 83% evidence	11.7/25 ROCE 5.4% · OPM 38% 76% evidence	9.4/20 P/E 55.9× · PEG — 15% evidence	6.9/20 RS sector -7.2% · RS bench 1.7% · 1Y -14.6%4 of 11 weeks ahead 70% evidence
Exact sum: 22.4 + 11.7 + 9.4 + 6.9 = 50.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
10TBO Tek LtdTBOTEK	45.0/100Mixed-negative evidence87% evidence	TURNING	16.2/35 Revenue 69% · PAT 14.2% · OPM change 1 pp 100% evidence	13.6/25 ROCE 18% · OPM 15% 100% evidence	5.1/20 P/E 61.8× · PEG 6.18 65% evidence	10.1/20 RS sector -2.5% · RS bench 5.7% · 1Y 11.7%6 of 10 weeks ahead 70% evidence
Exact sum: 16.2 + 13.6 + 5.1 + 10.1 = 45 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
11Just Dial LtdJUSTDIAL	39.5/100Mixed-negative evidence87% evidence	TURNING	19.3/35 Revenue 23.4% · PAT 100% · OPM change -1.6 pp 100% evidence	9.1/25 ROCE 4.8% · OPM 23.5% 100% evidence	5.0/20 P/E 43.7× · PEG 7.47 65% evidence	6.1/20 RS sector -20.6% · RS bench 5.7% · 1Y -15.8%3 of 10 weeks ahead 70% evidence
Exact sum: 19.3 + 9.1 + 5 + 6.1 = 39.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
12One Mobikwik Systems LtdMOBIKWIK	31.5/100Thin evidence · provisional59% evidence	ASLEEP	15.6/35 Revenue -4.3% · PAT 48.9% · OPM change 24.6 pp 62% evidence	2.0/25 ROCE -2.2% · OPM 3.5% 95% evidence	10.0/20 P/E — · PEG — 0% evidence	3.9/20 RS sector -13.8% · RS bench -9.2% · 1Y -20%1 of 10 weeks ahead 70% evidence
Exact sum: 15.6 + 2 + 10 + 3.9 = 31.5 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
13Urban Company LtdURBANCO	27.5/100Adverse evidence60% evidence	ASLEEP	7.2/35 Revenue 39.6% · PAT -80% · OPM change -14.4 pp 100% evidence	0.3/25 ROCE -7.8% · OPM -18% 100% evidence	10.0/20 P/E — · PEG — 0% evidence	10.0/20 RS sector — · RS bench — · 1Y —3 of 10 weeks ahead 0% evidence
Exact sum: 7.2 + 0.3 + 10 + 10 = 27.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

Showing 10 of 13 companies

05 · what price has already done

Market action

Creative Newtech Ltd has the strongest one-year price move in E-Commerce - Platform - Utility at +51.1%. It also leads on Mansfield relative strength against NIFTY at +43.2%. 8 of 11 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-31.

Price and relative strength

Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

06 · compare level, then change

Revenue Scale & Growth Durability

One 97 Communications Ltd has the highest Revenue among the 13 E-Commerce - Platform - Utility companies compared here, at ₹8,967 crore. Info Edge (India) Ltd is next at ₹3,284 crore. TBO Tek Ltd has the highest Revenue growth at 69%, so level and change sit with different companies. Its Revenue series carries 20 reported observations across the 20-quarter window.

What the numbers say: One 97 Communications Ltd is the scale leader at ₹8,967 crore, 173.1% ahead of Info Edge (India) Ltd. TBO Tek Ltd's growth is 69% from a ₹3,092 crore base, with 17 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderOne 97 Communications Ltd · ₹8,967 crore

Gap173.1% versus #2 · Info Edge (India) Ltd

Persistence5/8 recent comparable periods

Coverage13/13 companies · 189 observations

Investor read: One 97 Communications Ltd is the scale benchmark; TBO Tek Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: One 97 Communications Ltd's growth falls below TBO Tek Ltd's for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

Revenuelargest

1One 97 Communications Ltd PAYTM₹9.0K Cr

2Info Edge (India) Ltd NAUKRI₹3.3K Cr

3TBO Tek Ltd TBOTEK₹3.1K Cr

4Pine Labs Ltd PINELABS₹2.8K Cr

5Creative Newtech Ltd CNL⚠ unverified₹2.7K Cr

Revenue growthfastest growers

1TBO Tek Ltd TBOTEK69%

2Creative Newtech Ltd CNL⚠ unverified52%

3Urban Company Ltd URBANCO40%

4Just Dial Ltd JUSTDIAL23%

5One 97 Communications Ltd PAYTM23%

Revenue · company comparison

13/13 level · 12/13 change

On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Revenue	Revenue growth	Reported
One 97 Communications Ltd PAYTM	₹2.4K Cr	28%	Jun 2026
TBO Tek Ltd TBOTEK	₹926 Cr	81%	Jun 2026
Info Edge (India) Ltd NAUKRI	₹869 Cr	16%	Mar 2026
Creative Newtech Ltd CNL⚠ unverified	₹741 Cr	83%	Mar 2026
Pine Labs Ltd PINELABS	₹737 Cr	20%	Jun 2026
Urban Company Ltd URBANCO	₹528 Cr	44%	Jun 2026
Indiamart Intermesh Ltd INDIAMART	₹414 Cr	11%	Jun 2026
Just Dial Ltd JUSTDIAL	₹327 Cr	9.7%	Jun 2026
One Mobikwik Systems Ltd MOBIKWIK⚠ unverified	₹289 Cr	7.8%	Mar 2026
RNFI Services Ltd RNFI⚠ unverified	₹239 Cr	12%	Mar 2026
MPS Ltd MPSLTD	₹224 Cr	20%	Jun 2026
MSTC Ltd MSTCLTD	₹119 Cr	34%	Mar 2026
Macfos Ltd 543787	₹102 Cr	63%	Mar 2026

Full 20-quarter history · every available company

Revenue · reported quarter history

Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Creative Newtech Ltd · CNL⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹421 Cr

Mar 2023₹397 Cr

Jun 2023₹468 Cr

Sep 2023₹430 Cr

Dec 2023₹511 Cr

Mar 2024₹304 Cr

Jun 2024₹301 Cr

Sep 2024₹411 Cr

Dec 2024₹659 Cr

Mar 2025₹404 Cr

Jun 2025₹393 Cr

Sep 2025₹656 Cr

Dec 2025₹914 Cr

Mar 2026₹741 Cr

Jun 2026—

Indiamart Intermesh Ltd · INDIAMART

Sep 2021₹182 Cr

Dec 2021₹188 Cr

Mar 2022₹201 Cr

Jun 2022₹225 Cr

Sep 2022₹241 Cr

Dec 2022₹251 Cr

Mar 2023₹269 Cr

Jun 2023₹282 Cr

Sep 2023₹295 Cr

Dec 2023₹305 Cr

Mar 2024₹315 Cr

Jun 2024₹331 Cr

Sep 2024₹348 Cr

Dec 2024₹354 Cr

Mar 2025₹355 Cr

Jun 2025₹372 Cr

Sep 2025₹391 Cr

Dec 2025₹402 Cr

Mar 2026₹404 Cr

Jun 2026₹414 Cr

Info Edge (India) Ltd · NAUKRI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022₹604 Cr

Dec 2022₹590 Cr

Mar 2023₹605 Cr

Jun 2023₹626 Cr

Sep 2023₹626 Cr

Dec 2023₹627 Cr

Mar 2024₹657 Cr

Jun 2024₹677 Cr

Sep 2024₹701 Cr

Dec 2024₹722 Cr

Mar 2025₹750 Cr

Jun 2025₹791 Cr

Sep 2025₹805 Cr

Dec 2025₹819 Cr

Mar 2026₹869 Cr

Jun 2026—

Just Dial Ltd · JUSTDIAL

Sep 2021₹156 Cr

Dec 2021₹159 Cr

Mar 2022₹167 Cr

Jun 2022₹186 Cr

Sep 2022₹205 Cr

Dec 2022₹221 Cr

Mar 2023₹233 Cr

Jun 2023₹247 Cr

Sep 2023₹261 Cr

Dec 2023₹265 Cr

Mar 2024₹270 Cr

Jun 2024₹281 Cr

Sep 2024₹285 Cr

Dec 2024₹287 Cr

Mar 2025₹289 Cr

Jun 2025₹298 Cr

Sep 2025₹303 Cr

Dec 2025₹306 Cr

Mar 2026₹307 Cr

Jun 2026₹327 Cr

Macfos Ltd · 543787

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023₹27 Cr

Dec 2023₹31 Cr

Mar 2024₹41 Cr

Jun 2024₹57 Cr

Sep 2024₹90 Cr

Dec 2024₹46 Cr

Mar 2025₹63 Cr

Jun 2025₹59 Cr

Sep 2025₹68 Cr

Dec 2025₹79 Cr

Mar 2026₹102 Cr

Jun 2026—

MPS Ltd · MPSLTD

Sep 2021₹110 Cr

Dec 2021₹112 Cr

Mar 2022₹109 Cr

Jun 2022₹115 Cr

Sep 2022₹127 Cr

Dec 2022₹132 Cr

Mar 2023₹127 Cr

Jun 2023₹133 Cr

Sep 2023₹130 Cr

Dec 2023₹134 Cr

Mar 2024₹149 Cr

Jun 2024₹181 Cr

Sep 2024₹178 Cr

Dec 2024₹186 Cr

Mar 2025₹182 Cr

Jun 2025₹186 Cr

Sep 2025₹194 Cr

Dec 2025₹182 Cr

Mar 2026₹205 Cr

Jun 2026₹224 Cr

MSTC Ltd · MSTCLTD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹169 Cr

Mar 2023₹197 Cr

Jun 2023₹179 Cr

Sep 2023₹81 Cr

Dec 2023₹185 Cr

Mar 2024₹199 Cr

Jun 2024₹69 Cr

Sep 2024₹72 Cr

Dec 2024₹81 Cr

Mar 2025₹89 Cr

Jun 2025₹77 Cr

Sep 2025₹85 Cr

Dec 2025₹88 Cr

Mar 2026₹119 Cr

Jun 2026—

One 97 Communications Ltd · PAYTM

Sep 2021₹1.1K Cr

Dec 2021₹1.5K Cr

Mar 2022₹1.5K Cr

Jun 2022₹1.7K Cr

Sep 2022₹1.9K Cr

Dec 2022₹2.1K Cr

Mar 2023₹2.3K Cr

Jun 2023₹2.3K Cr

Sep 2023₹2.5K Cr

Dec 2023₹2.9K Cr

Mar 2024₹2.3K Cr

Jun 2024₹1.5K Cr

Sep 2024₹1.7K Cr

Dec 2024₹1.8K Cr

Mar 2025₹1.9K Cr

Jun 2025₹1.9K Cr

Sep 2025₹2.1K Cr

Dec 2025₹2.2K Cr

Mar 2026₹2.3K Cr

Jun 2026₹2.4K Cr

One Mobikwik Systems Ltd · MOBIKWIK⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023₹203 Cr

Dec 2023₹229 Cr

Mar 2024₹265 Cr

Jun 2024₹342 Cr

Sep 2024₹291 Cr

Dec 2024₹269 Cr

Mar 2025₹268 Cr

Jun 2025₹271 Cr

Sep 2025₹270 Cr

Dec 2025₹289 Cr

Mar 2026₹289 Cr

Jun 2026—

Pine Labs Ltd · PINELABS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024₹787 Cr

Jun 2024₹522 Cr

Sep 2024₹552 Cr

Dec 2024₹602 Cr

Mar 2025₹599 Cr

Jun 2025₹616 Cr

Sep 2025₹650 Cr

Dec 2025₹744 Cr

Mar 2026₹701 Cr

Jun 2026₹737 Cr

TBO Tek Ltd · TBOTEK

Sep 2021₹86 Cr

Dec 2021₹156 Cr

Mar 2022₹156 Cr

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023₹281 Cr

Jun 2023₹345 Cr

Sep 2023₹352 Cr

Dec 2023₹327 Cr

Mar 2024₹369 Cr

Jun 2024₹418 Cr

Sep 2024₹451 Cr

Dec 2024₹422 Cr

Mar 2025₹446 Cr

Jun 2025₹511 Cr

Sep 2025₹568 Cr

Dec 2025₹784 Cr

Mar 2026₹814 Cr

Jun 2026₹926 Cr

Urban Company Ltd · URBANCO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024₹227 Cr

Jun 2024₹281 Cr

Sep 2024₹277 Cr

Dec 2024₹288 Cr

Mar 2025₹298 Cr

Jun 2025₹367 Cr

Sep 2025₹380 Cr

Dec 2025₹383 Cr

Mar 2026₹426 Cr

Jun 2026₹528 Cr

Revenue growth · reported quarter history

Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Creative Newtech Ltd · CNL⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 202321%

Mar 2024-23%

Jun 2024-36%

Sep 2024-4.4%

Dec 202429%

Mar 202533%

Jun 202531%

Sep 202560%

Dec 202539%

Mar 202683%

Jun 2026—

Indiamart Intermesh Ltd · INDIAMART

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 202232%

Dec 202234%

Mar 202334%

Jun 202325%

Sep 202322%

Dec 202322%

Mar 202417%

Jun 202417%

Sep 202418%

Dec 202416%

Mar 202513%

Jun 202512%

Sep 202512%

Dec 202514%

Mar 202614%

Jun 202611%

Info Edge (India) Ltd · NAUKRI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 20233.6%

Dec 20236.3%

Mar 20248.6%

Jun 20248.2%

Sep 202412%

Dec 202415%

Mar 202514%

Jun 202517%

Sep 202515%

Dec 202513%

Mar 202616%

Jun 2026—

Just Dial Ltd · JUSTDIAL

Sep 2021—

Dec 2021—

Mar 2022-5.1%

Jun 202213%

Sep 202231%

Dec 202239%

Mar 202340%

Jun 202333%

Sep 202327%

Dec 202320%

Mar 202416%

Jun 202414%

Sep 20249.2%

Dec 20248.3%

Mar 20257.0%

Jun 20256.1%

Sep 20256.3%

Dec 20256.6%

Mar 20266.2%

Jun 20269.7%

Macfos Ltd · 543787

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024232%

Dec 202447%

Mar 202553%

Jun 20254.3%

Sep 2025-24%

Dec 202572%

Mar 202663%

Jun 2026—

MPS Ltd · MPSLTD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 202215%

Dec 202218%

Mar 202317%

Jun 202316%

Sep 20232.4%

Dec 20231.5%

Mar 202417%

Jun 202436%

Sep 202437%

Dec 202439%

Mar 202522%

Jun 20252.8%

Sep 20259.0%

Dec 2025-2.2%

Mar 202613%

Jun 202620%

MSTC Ltd · MSTCLTD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 20239.5%

Mar 20241.0%

Jun 2024-61%

Sep 2024-11%

Dec 2024-56%

Mar 2025-55%

Jun 202512%

Sep 202518%

Dec 20258.6%

Mar 202634%

Jun 2026—

One 97 Communications Ltd · PAYTM

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 202276%

Dec 202242%

Mar 202351%

Jun 202339%

Sep 202332%

Dec 202338%

Mar 2024-2.9%

Jun 2024-36%

Sep 2024-34%

Dec 2024-36%

Mar 2025-16%

Jun 202528%

Sep 202524%

Dec 202520%

Mar 202618%

Jun 202628%

One Mobikwik Systems Ltd · MOBIKWIK⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 202443%

Dec 202418%

Mar 20251.1%

Jun 2025-21%

Sep 2025-7.0%

Dec 20257.2%

Mar 20267.8%

Jun 2026—

Pine Labs Ltd · PINELABS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025-24%

Jun 202518%

Sep 202518%

Dec 202524%

Mar 202617%

Jun 202620%

TBO Tek Ltd · TBOTEK

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 202380%

Jun 2023—

Sep 2023—

Dec 2023—

Mar 202431%

Jun 202421%

Sep 202428%

Dec 202429%

Mar 202521%

Jun 202522%

Sep 202526%

Dec 202586%

Mar 202683%

Jun 202681%

Urban Company Ltd · URBANCO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 202531%

Jun 202531%

Sep 202537%

Dec 202533%

Mar 202643%

Jun 202644%

07 · compare level, then change

Operating Economics & Margin Trend

MSTC Ltd has the highest OPM among the 13 E-Commerce - Platform - Utility companies compared here, at 64%. Info Edge (India) Ltd is next at 38%. One Mobikwik Systems Ltd has the highest Margin change at +24.6 percentage points, so level and change sit with different companies. Its OPM series carries 19 reported observations across the 20-quarter window.

What the numbers say: MSTC Ltd leads opm at 64%; One Mobikwik Systems Ltd leads margin change at +24.6 percentage points.

LeaderMSTC Ltd · 64%

Gap68.4% versus #2 · Info Edge (India) Ltd

Persistence5/8 recent comparable periods

Coverage13/13 companies · 208 observations

Investor read: MSTC Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

OPMhighest

1MSTC Ltd MSTCLTD64%

2Info Edge (India) Ltd NAUKRI38%

3MPS Ltd MPSLTD34%

4Indiamart Intermesh Ltd INDIAMART32%

5Just Dial Ltd JUSTDIAL24%

Margin changefastest expanders

1One Mobikwik Systems Ltd MOBIKWIK⚠ unverified+24.6 pp

2MPS Ltd MPSLTD+7.0 pp

3Info Edge (India) Ltd NAUKRI+7.0 pp

4Pine Labs Ltd PINELABS+6.0 pp

5MSTC Ltd MSTCLTD+5.0 pp

Operating margin · company comparison

13/13 level · 13/13 change

All-company data · latest reported quarter

Company	OPM	Margin change	Reported
MSTC Ltd MSTCLTD	64%	+5.0 pp	Mar 2026
Info Edge (India) Ltd NAUKRI	38%	+7.0 pp	Mar 2026
MPS Ltd MPSLTD	34%	+7.0 pp	Jun 2026
Indiamart Intermesh Ltd INDIAMART	32%	0.0 pp	Jun 2026
Just Dial Ltd JUSTDIAL	24%	−1.6 pp	Jun 2026
TBO Tek Ltd TBOTEK	15%	+1.0 pp	Jun 2026
Macfos Ltd 543787	14%	+3.3 pp	Mar 2026
Pine Labs Ltd PINELABS	13%	+6.0 pp	Jun 2026
One 97 Communications Ltd PAYTM	8.0%	+4.2 pp	Jun 2026
RNFI Services Ltd RNFI⚠ unverified	6.7%	+2.4 pp	Mar 2026
Creative Newtech Ltd CNL⚠ unverified	4.0%	+0.3 pp	Mar 2026
One Mobikwik Systems Ltd MOBIKWIK⚠ unverified	3.5%	+24.6 pp	Mar 2026
Urban Company Ltd URBANCO	-18%	−14.4 pp	Jun 2026

Full 20-quarter history · every available company

OPM · reported quarter history

Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Creative Newtech Ltd · CNL⚠ unverified

Sep 20212.5%

Dec 20212.4%

Mar 20221.3%

Jun 20221.0%

Sep 20221.9%

Dec 20221.0%

Mar 20231.4%

Jun 20231.5%

Sep 20232.8%

Dec 20232.1%

Mar 20243.9%

Jun 20242.7%

Sep 20243.0%

Dec 20241.9%

Mar 20253.7%

Jun 20252.8%

Sep 20253.5%

Dec 20252.9%

Mar 20264.0%

Jun 2026—

Indiamart Intermesh Ltd · INDIAMART

Sep 202145%

Dec 202140%

Mar 202226%

Jun 202225%

Sep 202223%

Dec 202224%

Mar 202321%

Jun 202324%

Sep 202323%

Dec 202326%

Mar 202424%

Jun 202433%

Sep 202435%

Dec 202435%

Mar 202534%

Jun 202532%

Sep 202530%

Dec 202530%

Mar 202630%

Jun 202632%

Info Edge (India) Ltd · NAUKRI

Sep 20219.6%

Dec 202128%

Mar 202215%

Jun 20225.2%

Sep 20228.0%

Dec 202226%

Mar 202318%

Jun 202329%

Sep 202321%

Dec 202329%

Mar 202431%

Jun 202431%

Sep 202422%

Dec 202437%

Mar 202531%

Jun 202533%

Sep 202535%

Dec 202536%

Mar 202638%

Jun 2026—

Just Dial Ltd · JUSTDIAL

Sep 202110%

Dec 20213.3%

Mar 2022-3.7%

Jun 20224.5%

Sep 20228.0%

Dec 202212%

Mar 202314%

Jun 202315%

Sep 202319%

Dec 202323%

Mar 202426%

Jun 202425%

Sep 202425%

Dec 202426%

Mar 202526%

Jun 202525%

Sep 202525%

Dec 202528%

Mar 202625%

Jun 202624%

Macfos Ltd · 543787

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 202212%

Dec 2022—

Mar 202314%

Jun 20239.7%

Sep 202311%

Dec 202312%

Mar 202415%

Jun 20249.4%

Sep 20249.9%

Dec 20248.2%

Mar 202510%

Jun 202512%

Sep 202511%

Dec 202510%

Mar 202614%

Jun 2026—

MPS Ltd · MPSLTD

Sep 202128%

Dec 202129%

Mar 202229%

Jun 202226%

Sep 202232%

Dec 202231%

Mar 202336%

Jun 202332%

Sep 202331%

Dec 202333%

Mar 202429%

Jun 202423%

Sep 202430%

Dec 202432%

Mar 202531%

Jun 202527%

Sep 202531%

Dec 202532%

Mar 202633%

Jun 202634%

MSTC Ltd · MSTCLTD

Sep 202120%

Dec 202134%

Mar 2022-80%

Jun 202240%

Sep 2022-8.3%

Dec 202232%

Mar 202341%

Jun 202336%

Sep 202360%

Dec 202334%

Mar 2024-17%

Jun 202456%

Sep 202454%

Dec 202458%

Mar 202559%

Jun 202556%

Sep 202559%

Dec 202556%

Mar 202664%

Jun 2026—

One 97 Communications Ltd · PAYTM

Sep 2021-42%

Dec 2021-54%

Mar 2022-50%

Jun 2022-38%

Sep 2022-29%

Dec 2022-16%

Mar 2023-6.0%

Jun 2023-13%

Sep 2023-9.0%

Dec 2023-6.0%

Mar 2024-21%

Jun 2024-53%

Sep 2024-24%

Dec 2024-12%

Mar 2025-4.6%

Jun 20253.8%

Sep 20257.0%

Dec 20257.0%

Mar 20266.0%

Jun 20268.0%

One Mobikwik Systems Ltd · MOBIKWIK⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 20233.7%

Dec 20233.7%

Mar 2024-0.3%

Jun 2024-0.4%

Sep 20241.3%

Dec 2024-18%

Mar 2025-21%

Jun 2025-15%

Sep 2025-5.7%

Dec 20252.3%

Mar 20263.5%

Jun 2026—

Pine Labs Ltd · PINELABS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024-25%

Jun 2024-3.0%

Sep 20246.0%

Dec 202413%

Mar 20259.0%

Jun 20257.0%

Sep 202512%

Dec 202518%

Mar 202615%

Jun 202613%

TBO Tek Ltd · TBOTEK

Sep 20215.7%

Dec 20213.8%

Mar 20223.8%

Jun 2022—

Sep 2022—

Dec 2022—

Mar 202313%

Jun 202319%

Sep 202320%

Dec 202317%

Mar 202418%

Jun 202419%

Sep 202417%

Dec 202413%

Mar 202515%

Jun 202514%

Sep 202516%

Dec 202513%

Mar 202613%

Jun 202615%

Urban Company Ltd · URBANCO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024-26%

Jun 2024-3.4%

Sep 2024-6.0%

Dec 2024-0.7%

Mar 2025-6.0%

Jun 2025-3.6%

Sep 2025-21%

Dec 2025-11%

Mar 2026-28%

Jun 2026-18%

Margin change · reported quarter history

Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Creative Newtech Ltd · CNL⚠ unverified

Sep 2021−0.5 pp

Dec 2021+1.5 pp

Mar 2022−2.1 pp

Jun 2022−0.6 pp

Sep 2022−0.6 pp

Dec 2022−1.4 pp

Mar 2023+0.1 pp

Jun 2023+0.5 pp

Sep 2023+0.9 pp

Dec 2023+1.1 pp

Mar 2024+2.5 pp

Jun 2024+1.2 pp

Sep 2024+0.2 pp

Dec 2024−0.2 pp

Mar 2025−0.2 pp

Jun 2025+0.1 pp

Sep 2025+0.5 pp

Dec 2025+1.0 pp

Mar 2026+0.3 pp

Jun 2026—

Indiamart Intermesh Ltd · INDIAMART

Sep 2021−5.3 pp

Dec 2021−10.1 pp

Mar 2022−21.1 pp

Jun 2022−22.5 pp

Sep 2022−21.2 pp

Dec 2022−16.2 pp

Mar 2023−4.5 pp

Jun 2023−1.5 pp

Sep 2023−0.4 pp

Dec 2023+2.0 pp

Mar 2024+3.0 pp

Jun 2024+9.0 pp

Sep 2024+12.0 pp

Dec 2024+9.0 pp

Mar 2025+10.0 pp

Jun 2025−1.0 pp

Sep 2025−5.0 pp

Dec 2025−5.0 pp

Mar 2026−4.0 pp

Jun 20260.0 pp

Info Edge (India) Ltd · NAUKRI

Sep 2021+27.4 pp

Dec 2021+37.4 pp

Mar 2022+4.6 pp

Jun 2022+4.4 pp

Sep 2022−1.6 pp

Dec 2022−1.7 pp

Mar 2023+2.9 pp

Jun 2023+23.8 pp

Sep 2023+13.0 pp

Dec 2023+3.0 pp

Mar 2024+13.0 pp

Jun 2024+2.0 pp

Sep 2024+1.0 pp

Dec 2024+8.0 pp

Mar 20250.0 pp

Jun 2025+2.0 pp

Sep 2025+13.0 pp

Dec 2025−1.0 pp

Mar 2026+7.0 pp

Jun 2026—

Just Dial Ltd · JUSTDIAL

Sep 2021−16.7 pp

Dec 2021−19.2 pp

Mar 2022−23.7 pp

Jun 2022+14.5 pp

Sep 2022−2.0 pp

Dec 2022+8.7 pp

Mar 2023+17.7 pp

Jun 2023+10.5 pp

Sep 2023+11.0 pp

Dec 2023+11.0 pp

Mar 2024+12.0 pp

Jun 2024+9.6 pp

Sep 2024+5.7 pp

Dec 2024+3.0 pp

Mar 2025−0.3 pp

Jun 2025+0.5 pp

Sep 2025+0.3 pp

Dec 2025+1.5 pp

Mar 2026−0.3 pp

Jun 2026−1.6 pp

Macfos Ltd · 543787

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023−1.4 pp

Dec 2023—

Mar 2024+1.0 pp

Jun 2024−0.4 pp

Sep 2024−1.0 pp

Dec 2024−3.9 pp

Mar 2025−5.0 pp

Jun 2025+2.4 pp

Sep 2025+0.6 pp

Dec 2025+2.0 pp

Mar 2026+3.3 pp

Jun 2026—

MPS Ltd · MPSLTD

Sep 2021+5.3 pp

Dec 2021+0.8 pp

Mar 2022+3.9 pp

Jun 2022−1.1 pp

Sep 2022+4.0 pp

Dec 2022+2.0 pp

Mar 2023+7.1 pp

Jun 2023+6.2 pp

Sep 2023−0.7 pp

Dec 2023+2.0 pp

Mar 2024−7.0 pp

Jun 2024−9.0 pp

Sep 2024−1.0 pp

Dec 2024−1.0 pp

Mar 2025+2.0 pp

Jun 2025+4.0 pp

Sep 2025+1.0 pp

Dec 20250.0 pp

Mar 2026+2.0 pp

Jun 2026+7.0 pp

MSTC Ltd · MSTCLTD

Sep 2021−2.6 pp

Dec 2021+15.6 pp

Mar 2022−36.9 pp

Jun 2022+18.8 pp

Sep 2022−28.5 pp

Dec 2022−2.3 pp

Mar 2023+121.3 pp

Jun 2023−3.7 pp

Sep 2023+68.3 pp

Dec 2023+2.0 pp

Mar 2024−58.0 pp

Jun 2024+20.0 pp

Sep 2024−6.0 pp

Dec 2024+24.0 pp

Mar 2025+76.0 pp

Jun 20250.0 pp

Sep 2025+5.0 pp

Dec 2025−2.0 pp

Mar 2026+5.0 pp

Jun 2026—

One 97 Communications Ltd · PAYTM

Sep 2021+27.8 pp

Dec 2021+17.6 pp

Mar 2022+10.9 pp

Jun 2022+4.9 pp

Sep 2022+13.7 pp

Dec 2022+38.1 pp

Mar 2023+43.8 pp

Jun 2023+25.1 pp

Sep 2023+19.6 pp

Dec 2023+10.0 pp

Mar 2024−15.0 pp

Jun 2024−40.0 pp

Sep 2024−15.0 pp

Dec 2024−6.0 pp

Mar 2025+16.4 pp

Jun 2025+56.8 pp

Sep 2025+31.0 pp

Dec 2025+19.0 pp

Mar 2026+10.6 pp

Jun 2026+4.2 pp

One Mobikwik Systems Ltd · MOBIKWIK⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024−2.4 pp

Dec 2024−21.4 pp

Mar 2025−20.8 pp

Jun 2025−14.9 pp

Sep 2025−7.0 pp

Dec 2025+20.0 pp

Mar 2026+24.6 pp

Jun 2026—

Pine Labs Ltd · PINELABS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025+33.9 pp

Jun 2025+10.0 pp

Sep 2025+6.0 pp

Dec 2025+5.0 pp

Mar 2026+6.0 pp

Jun 2026+6.0 pp

TBO Tek Ltd · TBOTEK

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023+9.2 pp

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024+5.0 pp

Jun 20240.0 pp

Sep 2024−3.0 pp

Dec 2024−4.0 pp

Mar 2025−3.0 pp

Jun 2025−5.0 pp

Sep 2025−1.0 pp

Dec 20250.0 pp

Mar 2026−2.0 pp

Jun 2026+1.0 pp

Urban Company Ltd · URBANCO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025+19.7 pp

Jun 2025−0.2 pp

Sep 2025−15.0 pp

Dec 2025−10.3 pp

Mar 2026−22.0 pp

Jun 2026−14.4 pp

08 · compare level, then change

Profit Scale & Acceleration

Info Edge (India) Ltd has the highest Net profit among the 13 E-Commerce - Platform - Utility companies compared here, at ₹1,764 crore. One 97 Communications Ltd is next at ₹649 crore. Just Dial Ltd has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: Info Edge (India) Ltd leads with ₹1,764 crore of TTM profit, 171.8% above One 97 Communications Ltd. Just Dial Ltd shows ≥100% on the scoring scale (122.7% uncapped) growth from a ₹363 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderInfo Edge (India) Ltd · ₹1,764 crore

Gap171.8% versus #2 · One 97 Communications Ltd

Persistence7/8 recent comparable periods

Coverage13/13 companies · 189 observations

Investor read: Info Edge (India) Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

Net profitlargest

1Info Edge (India) Ltd NAUKRI₹1.8K Cr

2One 97 Communications Ltd PAYTM₹649 Cr

3Indiamart Intermesh Ltd INDIAMART₹493 Cr

4Just Dial Ltd JUSTDIAL₹363 Cr

5TBO Tek Ltd TBOTEK₹265 Cr

Profit growthfastest growers

1Just Dial Ltd JUSTDIAL100%

2One 97 Communications Ltd PAYTM100%

3Pine Labs Ltd PINELABS100%

4Macfos Ltd 54378743%

5Info Edge (India) Ltd NAUKRI35%

Net profit · company comparison

13/13 level · 11/13 change

All-company data · latest reported quarter

Company	Net profit	Profit growth	Reported
Info Edge (India) Ltd NAUKRI	₹756 Cr	12%	Mar 2026
One 97 Communications Ltd PAYTM	₹220 Cr	79%	Jun 2026
Indiamart Intermesh Ltd INDIAMART	₹172 Cr	12%	Jun 2026
Just Dial Ltd JUSTDIAL	₹166 Cr	3.8%	Jun 2026
TBO Tek Ltd TBOTEK	₹83 Cr	32%	Jun 2026
MSTC Ltd MSTCLTD	₹77 Cr	1.3%	Mar 2026
MPS Ltd MPSLTD	₹50 Cr	43%	Jun 2026
Pine Labs Ltd PINELABS	₹20 Cr	300%	Jun 2026
Creative Newtech Ltd CNL⚠ unverified	₹18 Cr	29%	Mar 2026
Macfos Ltd 543787	₹10 Cr	103%	Mar 2026
RNFI Services Ltd RNFI⚠ unverified	₹8 Cr	56%	Mar 2026
One Mobikwik Systems Ltd MOBIKWIK⚠ unverified	₹4 Cr	-1,149%	Mar 2026
Urban Company Ltd URBANCO	₹-92 Cr	-1,414%	Jun 2026

Full 20-quarter history · every available company

Net profit · reported quarter history

Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Creative Newtech Ltd · CNL⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹8 Cr

Mar 2023₹6 Cr

Jun 2023₹6 Cr

Sep 2023₹10 Cr

Dec 2023₹12 Cr

Mar 2024₹20 Cr

Jun 2024₹9 Cr

Sep 2024₹13 Cr

Dec 2024₹17 Cr

Mar 2025₹14 Cr

Jun 2025₹10 Cr

Sep 2025₹19 Cr

Dec 2025₹23 Cr

Mar 2026₹18 Cr

Jun 2026—

Indiamart Intermesh Ltd · INDIAMART

Sep 2021₹82 Cr

Dec 2021₹70 Cr

Mar 2022₹57 Cr

Jun 2022₹47 Cr

Sep 2022₹68 Cr

Dec 2022₹113 Cr

Mar 2023₹56 Cr

Jun 2023₹83 Cr

Sep 2023₹69 Cr

Dec 2023₹82 Cr

Mar 2024₹100 Cr

Jun 2024₹114 Cr

Sep 2024₹135 Cr

Dec 2024₹121 Cr

Mar 2025₹181 Cr

Jun 2025₹154 Cr

Sep 2025₹83 Cr

Dec 2025₹188 Cr

Mar 2026₹50 Cr

Jun 2026₹172 Cr

Info Edge (India) Ltd · NAUKRI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022₹94 Cr

Dec 2022₹46 Cr

Mar 2023₹-503 Cr

Jun 2023₹147 Cr

Sep 2023₹240 Cr

Dec 2023₹119 Cr

Mar 2024₹88 Cr

Jun 2024₹259 Cr

Sep 2024₹85 Cr

Dec 2024₹288 Cr

Mar 2025₹678 Cr

Jun 2025₹343 Cr

Sep 2025₹348 Cr

Dec 2025₹317 Cr

Mar 2026₹756 Cr

Jun 2026—

Just Dial Ltd · JUSTDIAL

Sep 2021₹33 Cr

Dec 2021₹19 Cr

Mar 2022₹22 Cr

Jun 2022₹-48 Cr

Sep 2022₹52 Cr

Dec 2022₹75 Cr

Mar 2023₹84 Cr

Jun 2023₹83 Cr

Sep 2023₹72 Cr

Dec 2023₹92 Cr

Mar 2024₹116 Cr

Jun 2024₹141 Cr

Sep 2024₹154 Cr

Dec 2024₹131 Cr

Mar 2025₹158 Cr

Jun 2025₹160 Cr

Sep 2025₹119 Cr

Dec 2025₹118 Cr

Mar 2026₹100 Cr

Jun 2026₹166 Cr

Macfos Ltd · 543787

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023₹2 Cr

Dec 2023₹3 Cr

Mar 2024₹5 Cr

Jun 2024₹4 Cr

Sep 2024₹6 Cr

Dec 2024₹3 Cr

Mar 2025₹5 Cr

Jun 2025₹5 Cr

Sep 2025₹5 Cr

Dec 2025₹6 Cr

Mar 2026₹10 Cr

Jun 2026—

MPS Ltd · MPSLTD

Sep 2021₹22 Cr

Dec 2021₹22 Cr

Mar 2022₹22 Cr

Jun 2022₹21 Cr

Sep 2022₹27 Cr

Dec 2022₹30 Cr

Mar 2023₹32 Cr

Jun 2023₹30 Cr

Sep 2023₹30 Cr

Dec 2023₹30 Cr

Mar 2024₹29 Cr

Jun 2024₹26 Cr

Sep 2024₹35 Cr

Dec 2024₹41 Cr

Mar 2025₹47 Cr

Jun 2025₹35 Cr

Sep 2025₹55 Cr

Dec 2025₹36 Cr

Mar 2026₹47 Cr

Jun 2026₹50 Cr

MSTC Ltd · MSTCLTD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹47 Cr

Mar 2023₹77 Cr

Jun 2023₹51 Cr

Sep 2023₹55 Cr

Dec 2023₹50 Cr

Mar 2024₹48 Cr

Jun 2024₹39 Cr

Sep 2024₹41 Cr

Dec 2024₹251 Cr

Mar 2025₹76 Cr

Jun 2025₹42 Cr

Sep 2025₹48 Cr

Dec 2025₹51 Cr

Mar 2026₹77 Cr

Jun 2026—

One 97 Communications Ltd · PAYTM

Sep 2021₹-473 Cr

Dec 2021₹-778 Cr

Mar 2022₹-761 Cr

Jun 2022₹-644 Cr

Sep 2022₹-571 Cr

Dec 2022₹-392 Cr

Mar 2023₹-168 Cr

Jun 2023₹-358 Cr

Sep 2023₹-292 Cr

Dec 2023₹-222 Cr

Mar 2024₹-550 Cr

Jun 2024₹-840 Cr

Sep 2024₹930 Cr

Dec 2024₹-208 Cr

Mar 2025₹-545 Cr

Jun 2025₹123 Cr

Sep 2025₹21 Cr

Dec 2025₹225 Cr

Mar 2026₹183 Cr

Jun 2026₹220 Cr

One Mobikwik Systems Ltd · MOBIKWIK⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023₹5 Cr

Dec 2023₹5 Cr

Mar 2024₹-1 Cr

Jun 2024₹-7 Cr

Sep 2024₹-4 Cr

Dec 2024₹-55 Cr

Mar 2025₹-56 Cr

Jun 2025₹-42 Cr

Sep 2025₹-29 Cr

Dec 2025₹4 Cr

Mar 2026₹4 Cr

Jun 2026—

Pine Labs Ltd · PINELABS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024₹-190 Cr

Jun 2024₹-28 Cr

Sep 2024₹-32 Cr

Dec 2024₹-57 Cr

Mar 2025₹-29 Cr

Jun 2025₹5 Cr

Sep 2025₹6 Cr

Dec 2025₹42 Cr

Mar 2026₹59 Cr

Jun 2026₹20 Cr

TBO Tek Ltd · TBOTEK

Sep 2021₹9 Cr

Dec 2021₹8 Cr

Mar 2022₹8 Cr

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023₹28 Cr

Jun 2023₹47 Cr

Sep 2023₹56 Cr

Dec 2023₹51 Cr

Mar 2024₹46 Cr

Jun 2024₹61 Cr

Sep 2024₹60 Cr

Dec 2024₹50 Cr

Mar 2025₹59 Cr

Jun 2025₹63 Cr

Sep 2025₹68 Cr

Dec 2025₹54 Cr

Mar 2026₹60 Cr

Jun 2026₹83 Cr

Urban Company Ltd · URBANCO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024₹-35 Cr

Jun 2024₹13 Cr

Sep 2024₹-2 Cr

Dec 2024₹232 Cr

Mar 2025₹-3 Cr

Jun 2025₹7 Cr

Sep 2025₹-59 Cr

Dec 2025₹-21 Cr

Mar 2026₹-161 Cr

Jun 2026₹-92 Cr

Profit growth · reported quarter history

Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Creative Newtech Ltd · CNL⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 202350%

Mar 2024233%

Jun 202450%

Sep 202430%

Dec 202442%

Mar 2025-30%

Jun 202511%

Sep 202546%

Dec 202535%

Mar 202629%

Jun 2026—

Indiamart Intermesh Ltd · INDIAMART

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022-17%

Dec 202261%

Mar 2023-1.8%

Jun 202377%

Sep 20231.5%

Dec 2023-27%

Mar 202479%

Jun 202437%

Sep 202496%

Dec 202448%

Mar 202581%

Jun 202535%

Sep 2025-39%

Dec 202555%

Mar 2026-72%

Jun 202612%

Info Edge (India) Ltd · NAUKRI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023155%

Dec 2023159%

Mar 2024—

Jun 202476%

Sep 2024-65%

Dec 2024142%

Mar 2025670%

Jun 202532%

Sep 2025309%

Dec 202510%

Mar 202612%

Jun 2026—

Just Dial Ltd · JUSTDIAL

Sep 2021—

Dec 2021—

Mar 2022-35%

Jun 2022—

Sep 202258%

Dec 2022295%

Mar 2023282%

Jun 2023—

Sep 202338%

Dec 202323%

Mar 202438%

Jun 202470%

Sep 2024114%

Dec 202442%

Mar 202536%

Jun 202513%

Sep 2025-23%

Dec 2025-9.9%

Mar 2026-37%

Jun 20263.8%

Macfos Ltd · 543787

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024214%

Dec 202410%

Mar 20258.2%

Jun 202526%

Sep 2025-19%

Dec 2025104%

Mar 2026103%

Jun 2026—

MPS Ltd · MPSLTD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 202223%

Dec 202236%

Mar 202345%

Jun 202343%

Sep 202311%

Dec 20230.0%

Mar 2024-9.4%

Jun 2024-13%

Sep 202417%

Dec 202437%

Mar 202562%

Jun 202535%

Sep 202557%

Dec 2025-12%

Mar 20260.0%

Jun 202643%

MSTC Ltd · MSTCLTD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 20236.4%

Mar 2024-38%

Jun 2024-24%

Sep 2024-25%

Dec 2024402%

Mar 202558%

Jun 20257.7%

Sep 202517%

Dec 2025-80%

Mar 20261.3%

Jun 2026—

One 97 Communications Ltd · PAYTM

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025-98%

Dec 2025—

Mar 2026—

Jun 202679%

One Mobikwik Systems Ltd · MOBIKWIK⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024-169%

Dec 2024-1,149%

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Pine Labs Ltd · PINELABS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026300%

TBO Tek Ltd · TBOTEK

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023250%

Jun 2023—

Sep 2023—

Dec 2023—

Mar 202464%

Jun 202430%

Sep 20247.1%

Dec 2024-2.0%

Mar 202528%

Jun 20253.3%

Sep 202513%

Dec 20258.0%

Mar 20261.7%

Jun 202632%

Urban Company Ltd · URBANCO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025-46%

Sep 2025—

Dec 2025-109%

Mar 2026—

Jun 2026-1,414%

09 · compare level, then change

Return On Capital Employed

MPS Ltd has the highest ROCE among the 13 E-Commerce - Platform - Utility companies compared here, at 39.3%. Macfos Ltd is next at 33.8%. Pine Labs Ltd has the highest ROCE change at +6.6 percentage points, so level and change sit with different companies. 13 of 13 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: MPS Ltd leads ROCE at 39.3%, 5.5 percentage points above Macfos Ltd. Pine Labs Ltd has the strongest latest improvement at +6.6 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderMPS Ltd · 39.3%

Gap16.3% versus #2 · Macfos Ltd

Persistence6/8 recent comparable periods

Coverage13/13 companies · 129 observations

Investor read: MPS Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

ROCEhighest

1MPS Ltd MPSLTD39%

2Macfos Ltd 54378734%

3MSTC Ltd MSTCLTD30%

4Indiamart Intermesh Ltd INDIAMART28%

5RNFI Services Ltd RNFI⚠ unverified27%

ROCE changefastest improvers

1Pine Labs Ltd PINELABS+6.6 pp

2Creative Newtech Ltd CNL⚠ unverified+5.9 pp

3RNFI Services Ltd RNFI⚠ unverified+4.5 pp

4Indiamart Intermesh Ltd INDIAMART+4.4 pp

5One 97 Communications Ltd PAYTM+2.3 pp

Return on capital · company comparison

13/13 level · 13/13 change

Withheld from this chart: Info Edge (India) Ltd (NAUKRI) — its two data sources disagree by up to 352% on reported income across 15 comparable periods, so its derived ratios are withheld; MSTC Ltd (MSTCLTD) — its two data sources disagree by up to 218% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

All-company data · latest reported quarter

Company	ROCE	ROCE change	Reported
MPS Ltd MPSLTD	41%	+0.7 pp	Jun 2026
Creative Newtech Ltd CNL⚠ unverified	23%	+5.9 pp	Mar 2026
Indiamart Intermesh Ltd INDIAMART	22%	+4.4 pp	Jun 2026
RNFI Services Ltd RNFI⚠ unverified	22%	+4.5 pp	Mar 2026
One Mobikwik Systems Ltd MOBIKWIK⚠ unverified	17%	+0.2 pp	Mar 2026
TBO Tek Ltd TBOTEK	13%	−7.1 pp	Jun 2026
Just Dial Ltd JUSTDIAL	5.8%	−0.1 pp	Jun 2026
One 97 Communications Ltd PAYTM	4.6%	+2.3 pp	Jun 2026
Pine Labs Ltd PINELABS	1.5%	+6.6 pp	Jun 2026
Urban Company Ltd URBANCO	-10%	−7.0 pp	Jun 2026

Full 20-quarter history · every available company

ROCE · reported quarter history

Creative Newtech Ltd · CNL⚠ unverified

Sep 202130%

Dec 2021—

Mar 202231%

Jun 2022—

Sep 202232%

Dec 2022—

Mar 202326%

Jun 2023—

Sep 202319%

Dec 202331%

Mar 202421%

Jun 202437%

Sep 202419%

Dec 202435%

Mar 202517%

Jun 202528%

Sep 202519%

Dec 202531%

Mar 202623%

Jun 2026—

Indiamart Intermesh Ltd · INDIAMART

Sep 202116%

Dec 2021—

Mar 202213%

Jun 2022—

Sep 202211%

Dec 2022—

Mar 20239.3%

Jun 2023—

Sep 202313%

Dec 202313%

Mar 202412%

Jun 202414%

Sep 202415%

Dec 202427%

Mar 202517%

Jun 202518%

Sep 202517%

Dec 202516%

Mar 202615%

Jun 202622%

Just Dial Ltd · JUSTDIAL

Sep 20211.1%

Dec 20213.1%

Mar 2022-0.8%

Jun 20220.9%

Sep 2022-0.1%

Dec 20223.3%

Mar 20231.4%

Jun 20239.8%

Sep 20232.6%

Dec 202311%

Mar 20244.0%

Jun 2024—

Sep 20245.4%

Dec 2024—

Mar 20255.9%

Jun 2025—

Sep 20255.8%

Dec 2025—

Mar 20265.8%

Jun 2026—

MPS Ltd · MPSLTD

Sep 202123%

Dec 2021—

Mar 202227%

Jun 2022—

Sep 202229%

Dec 2022—

Mar 202331%

Jun 2023—

Sep 202330%

Dec 202337%

Mar 202429%

Jun 202432%

Sep 202431%

Dec 202435%

Mar 202535%

Jun 202540%

Sep 202538%

Dec 202543%

Mar 202630%

Jun 202641%

One 97 Communications Ltd · PAYTM

Sep 2021-32%

Dec 2021—

Mar 2022-18%

Jun 2022—

Sep 2022-22%

Dec 2022—

Mar 2023-16%

Jun 2023—

Sep 2023-12%

Dec 2023-7.2%

Mar 2024-11%

Jun 2024-14%

Sep 2024-15%

Dec 2024-4.4%

Mar 2025-12%

Jun 20252.3%

Sep 2025-2.3%

Dec 2025-0.9%

Mar 20263.8%

Jun 20264.6%

One Mobikwik Systems Ltd · MOBIKWIK⚠ unverified

Sep 2021—

Dec 2021-61%

Mar 2022-40%

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 202388%

Dec 2023—

Mar 2024148%

Jun 2024168%

Sep 2024153%

Dec 2024-21%

Mar 202517%

Jun 2025-31%

Sep 20251.3%

Dec 2025-26%

Mar 202617%

Jun 2026—

Pine Labs Ltd · PINELABS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024-5.1%

Jun 2024—

Sep 2024—

Dec 2024-11%

Mar 2025-5.1%

Jun 2025-5.1%

Sep 2025-3.6%

Dec 20254.3%

Mar 20261.5%

Jun 2026—

RNFI Services Ltd · RNFI⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 20237.4%

Sep 202315%

Dec 202320%

Mar 202425%

Jun 2024—

Sep 202413%

Dec 2024—

Mar 202517%

Jun 202537%

Sep 202520%

Dec 202530%

Mar 202622%

Jun 2026—

TBO Tek Ltd · TBOTEK

Sep 20214.0%

Dec 20215.2%

Mar 20227.2%

Jun 2022—

Sep 2022—

Dec 2022—

Mar 202312%

Jun 202323%

Sep 2023—

Dec 202332%

Mar 202429%

Jun 202442%

Sep 202419%

Dec 202429%

Mar 202520%

Jun 202527%

Sep 202513%

Dec 202519%

Mar 202613%

Jun 2026—

Urban Company Ltd · URBANCO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024-4.2%

Jun 2024—

Sep 2024—

Dec 2024-5.5%

Mar 2025-3.4%

Jun 2025-3.1%

Sep 2025-4.7%

Dec 2025-2.8%

Mar 2026-10%

Jun 2026—

ROCE change · reported quarter history

Creative Newtech Ltd · CNL⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+1.4 pp

Dec 2022—

Mar 2023−5.6 pp

Jun 2023—

Sep 2023−12.9 pp

Dec 2023—

Mar 2024−5.2 pp

Jun 2024—

Sep 2024−0.1 pp

Dec 2024+3.4 pp

Mar 2025−3.4 pp

Jun 2025−9.5 pp

Sep 20250.0 pp

Dec 2025−4.2 pp

Mar 2026+5.9 pp

Jun 2026—

Indiamart Intermesh Ltd · INDIAMART

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−5.2 pp

Dec 2022—

Mar 2023−3.6 pp

Jun 2023—

Sep 2023+2.0 pp

Dec 2023—

Mar 2024+3.1 pp

Jun 2024—

Sep 2024+2.9 pp

Dec 2024+14.0 pp

Mar 2025+4.5 pp

Jun 2025+3.9 pp

Sep 2025+1.9 pp

Dec 2025−10.8 pp

Mar 2026−1.5 pp

Jun 2026+4.4 pp

Just Dial Ltd · JUSTDIAL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−1.2 pp

Dec 2022+0.2 pp

Mar 2023+2.2 pp

Jun 2023+8.9 pp

Sep 2023+2.7 pp

Dec 2023+7.8 pp

Mar 2024+2.6 pp

Jun 2024—

Sep 2024+2.8 pp

Dec 2024—

Mar 2025+1.9 pp

Jun 2025—

Sep 2025+0.4 pp

Dec 2025—

Mar 2026−0.1 pp

Jun 2026—

MPS Ltd · MPSLTD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+6.2 pp

Dec 2022—

Mar 2023+3.3 pp

Jun 2023—

Sep 2023+0.3 pp

Dec 2023—

Mar 2024−2.0 pp

Jun 2024—

Sep 2024+0.9 pp

Dec 2024−2.3 pp

Mar 2025+6.0 pp

Jun 2025+8.4 pp

Sep 2025+7.4 pp

Dec 2025+8.7 pp

Mar 2026−4.4 pp

Jun 2026+0.7 pp

One 97 Communications Ltd · PAYTM

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+10.3 pp

Dec 2022—

Mar 2023+1.9 pp

Jun 2023—

Sep 2023+9.6 pp

Dec 2023—

Mar 2024+4.5 pp

Jun 2024—

Sep 2024−3.0 pp

Dec 2024+2.8 pp

Mar 2025−0.9 pp

Jun 2025+16.0 pp

Sep 2025+12.6 pp

Dec 2025+3.5 pp

Mar 2026+15.9 pp

Jun 2026+2.3 pp

One Mobikwik Systems Ltd · MOBIKWIK⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024+65.3 pp

Dec 2024—

Mar 2025−131.6 pp

Jun 2025−199.1 pp

Sep 2025−151.9 pp

Dec 2025−5.0 pp

Mar 2026+0.2 pp

Jun 2026—

Pine Labs Ltd · PINELABS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 20250.0 pp

Jun 2025—

Sep 2025—

Dec 2025+15.3 pp

Mar 2026+6.6 pp

Jun 2026—

RNFI Services Ltd · RNFI⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024−1.4 pp

Dec 2024—

Mar 2025−8.2 pp

Jun 2025—

Sep 2025+6.4 pp

Dec 2025—

Mar 2026+4.5 pp

Jun 2026—

TBO Tek Ltd · TBOTEK

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023+4.5 pp

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024+17.4 pp

Jun 2024+19.1 pp

Sep 2024—

Dec 2024−3.8 pp

Mar 2025−9.0 pp

Jun 2025−14.5 pp

Sep 2025−5.9 pp

Dec 2025−9.8 pp

Mar 2026−7.1 pp

Jun 2026—

Urban Company Ltd · URBANCO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025+0.8 pp

Jun 2025—

Sep 2025—

Dec 2025+2.7 pp

Mar 2026−7.0 pp

Jun 2026—

10 · compare level, then change

Valuation Against Growth & Quality

MPS Ltd has the lowest PEG among the 13 E-Commerce - Platform - Utility companies compared here, at 0.43×. Indiamart Intermesh Ltd is next at 0.68×. MSTC Ltd has the lowest P/E at 19.9×, so level and change sit with different companies. 5 of 13 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: MPS Ltd has the lowest comparable PEG at 0.43×, 36.8% below Indiamart Intermesh Ltd. Only 5 of 13 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderMPS Ltd · 0.43×

Gap36.8% versus #2 · Indiamart Intermesh Ltd

Persistence0/8 recent comparable periods

Coverage5/13 companies · 39 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.

PEGlowest PEG

1MPS Ltd MPSLTD0.4

2Indiamart Intermesh Ltd INDIAMART0.7

3One 97 Communications Ltd PAYTM1.9

4TBO Tek Ltd TBOTEK6.2

5Just Dial Ltd JUSTDIAL7.5

P/Elowest P/E

1MSTC Ltd MSTCLTD19.9

2Creative Newtech Ltd CNL⚠ unverified21.2

3Indiamart Intermesh Ltd INDIAMART21.9

4RNFI Services Ltd RNFI⚠ unverified24.6

5MPS Ltd MPSLTD25.2

Valuation · company comparison

5/13 level · 11/13 change

All-company data · latest reported quarter

Company	PEG	P/E	Reported
Just Dial Ltd JUSTDIAL	7.5	32.8	Jun 2026
TBO Tek Ltd TBOTEK	6.2	65.5	Jun 2026
Indiamart Intermesh Ltd INDIAMART	0.7	24.8	Jun 2026
MPS Ltd MPSLTD	0.4	18.5	Jun 2026
Macfos Ltd 543787	—	41.4	Mar 2026
One 97 Communications Ltd PAYTM	—	98.7	Jun 2026
Info Edge (India) Ltd NAUKRI	—	47.5	Mar 2026
Urban Company Ltd URBANCO	—	32.3	Jun 2026
Pine Labs Ltd PINELABS	—	156.8	Jun 2026
MSTC Ltd MSTCLTD	—	11.8	Mar 2026
One Mobikwik Systems Ltd MOBIKWIK⚠ unverified	—	-19.7	Mar 2026
Creative Newtech Ltd CNL⚠ unverified	—	12.7	Mar 2026
RNFI Services Ltd RNFI⚠ unverified	—	26.5	Mar 2026

Full 20-quarter history · every available company

PEG · reported quarter history

Indiamart Intermesh Ltd · INDIAMART

Sep 20211.7

Dec 20213.6

Mar 20229.1

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 20232.2

Dec 2023—

Mar 2024—

Jun 20242.3

Sep 20243.0

Dec 20240.7

Mar 2025—

Jun 2025—

Sep 2025—

Dec 20250.5

Mar 20260.7

Jun 2026—

Just Dial Ltd · JUSTDIAL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 20225.3

Dec 2022—

Mar 2023—

Jun 2023—

Sep 20232.0

Dec 2023—

Mar 20241.5

Jun 2024—

Sep 2024—

Dec 20241.4

Mar 20251.4

Jun 20254.3

Sep 2025—

Dec 20257.5

Mar 2026—

Jun 2026—

MPS Ltd · MPSLTD

Sep 20211.2

Dec 20210.3

Mar 20220.3

Jun 20220.5

Sep 20220.4

Dec 20220.5

Mar 20230.5

Jun 20230.3

Sep 20230.5

Dec 2023—

Mar 20240.9

Jun 20243.2

Sep 2024—

Dec 20240.8

Mar 20255.5

Jun 20250.9

Sep 20250.7

Dec 20250.6

Mar 20260.6

Jun 20260.4

TBO Tek Ltd · TBOTEK

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 20245.8

Sep 2024—

Dec 2024—

Mar 20252.9

Jun 20251.4

Sep 2025—

Dec 2025—

Mar 20266.4

Jun 20266.2

P/E · reported quarter history

Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Creative Newtech Ltd · CNL⚠ unverified

Sep 202125.4

Dec 202138.6

Mar 202245.9

Jun 202234.3

Sep 202225.4

Dec 202227.1

Mar 202320.3

Jun 202322.7

Sep 202322.8

Dec 202332.4

Mar 202428.0

Jun 202421.6

Sep 202423.4

Dec 202424.4

Mar 202517.9

Jun 202518.8

Sep 202517.4

Dec 202518.4

Mar 202612.7

Jun 2026—

Indiamart Intermesh Ltd · INDIAMART

Sep 202186.1

Dec 202163.7

Mar 202245.8

Jun 202242.4

Sep 202253.1

Dec 202254.4

Mar 202353.8

Jun 202360.8

Sep 202354.8

Dec 202351.4

Mar 202455.0

Jun 202448.0

Sep 202448.0

Dec 202431.4

Mar 202526.4

Jun 202529.7

Sep 202524.1

Dec 202524.7

Mar 202619.6

Jun 202624.8

Info Edge (India) Ltd · NAUKRI

Sep 2021545.6

Dec 2021484.9

Mar 202222.1

Jun 202218.1

Sep 202216.9

Dec 202217.0

Mar 202363.4

Jun 2023198.4

Sep 2023198.3

Dec 2023194.0

Mar 2024284.6

Jun 2024145.8

Sep 2024156.7

Dec 2024216.8

Mar 2025145.4

Jun 2025101.0

Sep 202582.4

Dec 202567.2

Mar 202647.5

Jun 2026—

Just Dial Ltd · JUSTDIAL

Sep 202154.7

Dec 202168.7

Mar 2022180.8

Jun 2022217.5

Sep 2022171.9

Dec 2022166.0

Mar 2023105.3

Jun 202381.3

Sep 202374.3

Dec 202368.5

Mar 202457.0

Jun 202462.7

Sep 202471.0

Dec 202460.9

Mar 202549.7

Jun 202555.8

Sep 202549.9

Dec 202544.1

Mar 202630.5

Jun 202632.8

Macfos Ltd · 543787

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 202463.1

Sep 202454.2

Dec 202471.4

Mar 202541.7

Jun 202541.1

Sep 202536.2

Dec 202543.0

Mar 202641.4

Jun 2026—

MPS Ltd · MPSLTD

Sep 202118.8

Dec 202115.4

Mar 202214.2

Jun 202213.7

Sep 202212.9

Dec 202215.6

Mar 202318.3

Jun 202316.5

Sep 202321.9

Dec 202323.8

Mar 202421.5

Jun 202428.2

Sep 202431.9

Dec 202429.1

Mar 202537.3

Jun 202531.4

Sep 202524.3

Dec 202520.8

Mar 202615.7

Jun 202618.5

MSTC Ltd · MSTCLTD

Sep 202114.5

Dec 202115.6

Mar 202212.0

Jun 20228.8

Sep 20228.1

Dec 20228.1

Mar 20236.8

Jun 202310.1

Sep 202312.7

Dec 202321.3

Mar 202426.1

Jun 202430.8

Sep 202425.9

Dec 202426.3

Mar 202520.5

Jun 202518.2

Sep 202515.8

Dec 202516.3

Mar 202611.8

Jun 2026—

One 97 Communications Ltd · PAYTM

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024-64.4

Dec 2024—

Mar 2025—

Jun 2025194.8

Sep 2025-118.7

Dec 2025773.7

Mar 2026119.0

Jun 202698.7

One Mobikwik Systems Ltd · MOBIKWIK⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 20241,121.1

Mar 20251,072.0

Jun 2025—

Sep 2025—

Dec 2025-14.9

Mar 2026-19.7

Jun 2026—

Pine Labs Ltd · PINELABS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025-231.9

Mar 2026159.4

Jun 2026156.8

TBO Tek Ltd · TBOTEK

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024139.8

Sep 202493.8

Dec 202482.9

Mar 202560.5

Jun 202569.0

Sep 202575.5

Dec 202583.0

Mar 202651.3

Jun 202665.5

Urban Company Ltd · URBANCO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 202534.2

Dec 202532.3

Mar 2026—

Jun 2026—

11 · before the conclusion, check the blind spots

What can make this comparison misleading?

This E-Commerce - Platform - Utility comparison names 6 specific ways its own evidence can mislead, all listed below. All 13 companies here report on comparable dates, so no rank carries a stale marker. 3 draw at least one figure from a second feed with too little overlap to cross-check. 2 have second-feed figures withheld because the two sources disagree.

Keep these limits visible

A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
3 companies draw at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; they are marked unverified wherever those figures appear.
2 companies are missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business.

12 · evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 13 E-Commerce - Platform - Utility companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-07-31.

FundamentalsThrough Jun 2026 · up to 20 quarters per company

Market dataThrough 2026-07-31 · weekly price and relative-strength history

Derived metricsGrowth, changes and PEG are calculated only when their inputs are comparable.

Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.

Source standing7 cross-checked · 4 unverified · 2 withheld, of 13 graded companies.

How a second data feed is admitted, and what happens when it disagrees

A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from.

13 · questions investors ask, short speakable answers

E-Commerce - Platform - Utility company comparison FAQs

These 24 answers restate the E-Commerce - Platform - Utility comparison above in question form. Every one is computed from the same 13 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-31. Nothing here is estimated, and none of it is a recommendation.

Is the E-Commerce - Platform - Utility sector outperforming NIFTY 500?

Which E-Commerce - Platform - Utility company is largest by revenue?

One 97 Communications Ltd leads with revenue of ₹8,967 crore, based on 13 of 13 comparable companies through Jun 2026.

Which E-Commerce - Platform - Utility company is growing fastest?

TBO Tek Ltd has the fastest current revenue growth at 69%, across 12 of 13 comparable companies.

Which E-Commerce - Platform - Utility company has the strongest 4-Factor Sector Score?

Creative Newtech Ltd ranks first at 70/100 with 82.8% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which E-Commerce - Platform - Utility company has the lowest comparable PEG?

MPS Ltd has the lowest comparable PEG at 0.43, among 5 of 13 companies whose earnings and growth are steady enough for the ratio to mean anything.

How much history does this E-Commerce - Platform - Utility comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

What is the Nifty E-Commerce - Platform - Utility index?

The Nifty E-Commerce - Platform - Utility index tracks India's listed E-Commerce - Platform - Utility companies as a single basket. This page follows the same 13 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the E-Commerce - Platform - Utility sector rather than to its largest constituent. Figures are as of Jun 2026.

Which are the best E-Commerce - Platform - Utility stocks in India?

Ranked by this page's four-factor score, Creative Newtech Ltd places first among 13 listed E-Commerce - Platform - Utility companies, followed by MPS Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

How many E-Commerce - Platform - Utility stocks are listed in India?

This comparison covers 13 listed E-Commerce - Platform - Utility companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.

Which E-Commerce - Platform - Utility company is the biggest?

One 97 Communications Ltd is the largest, with trailing-twelve-month revenue of ₹8,967 crore, ahead of Info Edge (India) Ltd at ₹3,284 crore. That covers 13 of 13 companies with comparable reporting through Jun 2026.

Which E-Commerce - Platform - Utility company has the best profit margins?

MSTC Ltd has the highest operating margin at 64%, from 13 of 13 comparable companies. One Mobikwik Systems Ltd shows the biggest recent improvement, at +24.6 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

Which E-Commerce - Platform - Utility company makes the most profit?

Info Edge (India) Ltd earns the most, at ₹1,764 crore of trailing-twelve-month net profit, from 13 of 13 comparable companies. Just Dial Ltd has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.

Which E-Commerce - Platform - Utility company earns the highest return on capital?

MPS Ltd leads on return on capital employed at 39.3%, across 13 of 13 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which E-Commerce - Platform - Utility stock is the cheapest?

On PEG — where a LOWER number is cheaper — MPS Ltd screens cheapest at 0.43×. Only 5 of 13 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Is the E-Commerce - Platform - Utility sector beating the market?

E-Commerce - Platform - Utility has underperformed NIFTY 500 by 4.9% over the last 52 weeks and 14.7% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 8 of 11 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which E-Commerce - Platform - Utility stock has the strongest price momentum?

Creative Newtech Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which E-Commerce - Platform - Utility company scores highest for research priority?

Creative Newtech Ltd scores 70 out of 100 with 82.8% evidence confidence, from 24.5 points on growth and earnings, 13.2 on capital efficiency, 12.3 on valuation and 20 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many E-Commerce - Platform - Utility companies does this comparison cover, and over what period?

It compares 13 listed companies over up to 20 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the E-Commerce - Platform - Utility sector?

The 13 E-Commerce - Platform - Utility companies on this page carry ₹2,49,016 crore of combined market value. One 97 Communications Ltd is the largest at ₹86,044 crore, about 35% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-05.

What is the E-Commerce - Platform - Utility sector's P/E ratio?

The median price-to-earnings ratio across the 13 E-Commerce - Platform - Utility companies on this page is 43.7×, measured on the 11 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-08-05.

How is the E-Commerce - Platform - Utility sector performing?

8 of the 11 covered E-Commerce - Platform - Utility companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 4.9% behind NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-05.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.