Sustained churn from silver price hike
The 33% price increase in silver subscriptions may lead to higher churn, especially among monthly subscribers.
INDIAMART / Q3-FY26 / risks
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Indiamart Intermesh · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
high
Traffic shift from Google to AI search
Growing use of AI search engines could reduce Google-originated traffic, impacting buyer acquisition.
Slow recovery in upsell rates
Upsell from silver to gold/platinum has dropped from 15-20% to 5-10% due to lower renewals.