Vicious loop risk from declining supplier and buyer activity
Both supplier additions and active buyers are declining, potentially leading to a negative feedback loop.
INDIAMARTINTERMESH / Q4-FY26 / risks
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IndiaMART InterMESH · Material risks, their source context, and severity in the latest available quarter.
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Risk intelligence
Material risks this quarter
high
Elevated silver churn persists
Silver monthly churn has risen to ~7% from 5-6% historically, and management sees no quick fix.
Limited headroom for supply-side growth
Management indicated ~50% penetration of serviceable obtainable market, limiting incremental benefit from adding more suppliers.
Geopolitical and macroeconomic headwinds
The war in March impacted gross additions, and MSMEs are facing significant pain, delaying recovery.