Justdial is a visionary company with no direct competitors specifically focused in this domain as such. But the company is more than just a platform to locate sellers. Below, we cover brief history of Justdial and its big bets.
Once upon a time, when the internet was still finding its feet in India, a man named V.S.S. Mani envisioned something that would change the way Indians found local businesses. In 1996, Justdial was born in a small Mumbai office with a simple mission: to connect people with verified businesses, services, and solutions near them. What started as a phone-based search service quickly evolved into a digital powerhouse.
Justdial got listed on Indian stock exchanges in 2013 to much fanfare. The IPO was oversubscribed nearly 12 times, a testament to the trust and recognition it had built over the years. But after the listing, it faced intense competition from Google, regional listing platforms, and newer apps that were more mobile-optimized. Many started to wonder: could Justdial hold its ground?
Fast forward to FY25, and Justdial isn’t just surviving — it’s pivoting smartly. Backed by Reliance Retail since 2021, the company is not only posting strong financials but also making three bold strategic bets to reclaim its dominance in India’s digital discovery and commerce space.
Let’s unpack those three big bets that could redefine Justdial’s future.
1. Generative AI Integration
In a world where ChatGPT and AI bots have become everyday assistants, Justdial is betting big on generative AI. But this isn’t a gimmick.
The platform has started using AI to auto-generate business descriptions, user review summaries, and even help consumers write better reviews. The idea is simple: if people can get faster, cleaner, and more relevant results, they’ll keep coming back.
This tech shift isn’t just about automation. It’s about making the platform smarter. With millions of listings and ever-changing information, generative AI helps Justdial stay current without human intervention. And from a user perspective? It’s like chatting with a local business expert who’s always online.
For investors, this means better user engagement, higher retention, and potentially more monetization opportunities through personalized ads and premium listings.
2. Expansion into Tier 2 and Tier 3 Cities
If India is a cricket stadium, Tier 1 cities are just the VIP stands. The real crowd — the volume, the energy, the scale — is in Tier 2 and Tier 3 cities.
Justdial is tapping into that.
The company has ramped up merchant acquisition in smaller cities. The logic is straightforward: as smartphones and UPI adoption explode in non-metro India, the need for reliable local search is skyrocketing.
What’s interesting is Justdial’s approach. Instead of merely expanding its online footprint, it’s building localized relationships — hiring city-specific teams, customizing categories (think: agricultural tools in Punjab, coaching centers in Kota), and pushing offline-to-online onboarding.
This grassroots strategy is already bearing fruit:
- Unique monthly visitors have grown by 11.8% YoY to 191.3 million
- Total business listings increased by 11.9% to 48.8 million
In a world of anonymous platforms, Justdial is becoming a trusted neighborhood companion.
3. Launch of JD Mart
JD Mart is Justdial’s answer to IndiaMART. It’s a B2B marketplace that connects manufacturers, wholesalers, and traders to business buyers.
Launched post the Reliance acquisition, JD Mart is an ambitious move. Why? Because India’s B2B space is massive but messy. There’s demand, but discovery is broken. Justdial already has the data, the listings, the tech. Now it wants to be the deal-closer.
This isn’t just a new tab on the website. JD Mart is a rethinking of how businesses buy from each other online. It has:
- Verified suppliers
- GST billing
- Call & chat integration
- Logistics support (via Reliance ecosystem)
It’s early days, but if JD Mart scales, it could become a high-margin revenue engine, unlike Justdial’s older ad-based model.
Financial Performance: Justdial is Back in the Game
Let’s look at the numbers from FY25.
| Metric | FY25 | FY24 | YoY Growth |
|---|---|---|---|
| Revenue (₹ crore) | 1,141.9 | 1,043.0 | 9.5% |
| Net Profit (₹ crore) | 584.2 | 362.9 | 61.0% |
| EBITDA (₹ crore) | 335.4 | 216.4 | 54.9% |
| EBITDA Margin | 29.8% | 26.2% | +360 bps |
| Unique Visitors (million) | 191.3 | 171.1 | 11.8% |
| Business Listings (million) | 48.8 | 43.6 | 11.9% |
That profit growth? It’s not a blip. It’s a sign of operating leverage kicking in. Justdial is spending smartly, automating deeply, and leveraging Reliance’s backing to control costs while expanding reach.
How Does Justdial Compare with Peers?
Let’s pit it against other big players in the digital and B2B search space:
| Company | Revenue (₹ crore) | Net Profit (₹ crore) | EBITDA Margin | P/E Ratio |
|---|---|---|---|---|
| Justdial | 1,141.9 | 584.2 | 29.8% | 14.5 |
| IndiaMART | 1,200.0 | 350.0 | 35.0% | 45.0 |
| Info Edge | 1,500.0 | 400.0 | 30.0% | 60.0 |
On profitability, Justdial is punching above its weight. Its P/E ratio is significantly lower than its peers, signaling two things:
- The stock might be undervalued
- The market still has questions about long-term growth
But if the three big bets deliver, that valuation gap could narrow fast.
Market Growth Today:
On April 21, 2025, Just Dial’s stock experienced a significant surge, closing at ₹1,028.25 on the NSE, marking an 11.54% increase from its previous close of ₹921.90.
This uptick followed the company’s announcement of robust Q4 FY25 results, reporting a 36.2% year-on-year rise in net profit to ₹157.6 crore and a 7% increase in revenue to ₹289.2 crore Source.
The growth was attributed to strategic merchant acquisition initiatives, leading to deeper penetration in both urban and semi-urban markets. Additionally, the platform’s unique visitors reached 191.3 million in Q4, reflecting an 11.8% year-on-year growth Source. Analysts have noted that Just Dial’s focus on enhancing user experience and expanding its reach has contributed to its strong financial performance and positive market response.
Investing in a company isn’t just about charts and ratios. It’s about stories.
Justdial’s story is one of reinvention. From a phone directory in the ’90s to an AI-powered discovery engine in 2025, it has shown resilience, adaptability, and now, ambition.
With Reliance in its corner, a sharpened tech edge, and a clear plan to win Bharat, Justdial is no longer just listing businesses — it’s building one hell of a comeback story.
And if you’re watching this stock, or using the app, remember: the next time you search for a plumber or a packaging vendor, you might just be clicking on a tiny piece of that turnaround.
Disclaimer: This blog post is for informational purposes only. It does not constitute investment advice. Please consult your financial advisor before making any investment decisions.
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