Just Dial shares surged another 13% on Tuesday, July 14, extending their exceptional bullish run to 40% in just four trading sessions after the company reported robust Q1 FY27 results. The stock hit the 20% upper circuit in the previous session, as reported by CNBC TV18. In just four trading sessions, the stock has gained 40%, building on Monday's strong performance that marked the biggest single-day gain in recent memory. The stock has gained 20.17% in a week and 23% in a month, with Shwetank Dixit, Chief Growth Officer, highlighting that the company has started FY27 on a strong note, with revenue growing 6.6% QoQ, its fastest sequential growth in a decade outside the post-COVID recovery period. The performance reflects focused execution across the core business, alongside sustained investments in technology capabilities.
Just Dial delivered exceptional Q1 FY27 results with net profit rising 66.2% sequentially to ₹166.3 crore from ₹100 crore in Q4 FY26, while year-on-year growth stood at 4.1% compared to ₹159.6 crore in Q1 FY26. As reported by Live Mint, this marks the first time in eight quarters that Just Dial's year-on-year revenue growth is near double-digits. The company also reported operating revenue of ₹327.5 crore, up 9.9% YoY, demonstrating robust top-line growth. Operating EBITDA improved by 1.2% to ₹87.4 crore, though operating EBITDA margin declined by 230 basis points year-on-year and 220 basis points sequentially to 26.7% due to higher employee costs and other expenses. Profit before tax stood at ₹206.6 crore, up 3.9% from ₹198.9 crore in Q1 FY26. Other income rose by 3.3% YoY to ₹131.5 crore, driven by higher Mark-to-Market gains on treasury portfolio led by decline in yields by nearly 40-50 basis points on sequential basis.
Just Dial announced a major leadership transition with founder VSS Mani stepping down as Managing Director and CEO on July 31. He will be succeeded by Dinkar Ayilavarapu, who previously headed Flipkart Wholesale, the company's B2B business. Ayilavarapu has over two decades of experience across digital commerce, retail and technology, including earlier stints at Bain & Company. On the finance side, Dinesh Taluja, formerly the Chief Financial Officer of Reliance Retail, has been appointed as the new CFO. He brings more than 20 years of experience spanning investment banking, private equity, management consulting and corporate finance. Collections, a key leading indicator for the business, grew 13.7% YoY, rebounding sharply from the nearly flat growth reported in the previous quarter, as reported by CNBC TV18. The company's revenue growth was driven by 6.2% growth in realisations and 3.5% growth in paid campaigns.
Just Dial maintains a robust financial position with cash and investments worth ₹6,022.1 crore on its balance sheet as of June 30, 2026, according to The Economic Times. Just Dial ended the quarter with nearly ₹6,022 crore of cash and investments, exceeding its market capitalisation of about ₹5,600 crore, as reported by CNBC TV18. Reliance Retail Ventures Ltd, a subsidiary of Reliance Industries, held a 63.84% stake in Just Dial as of March 31, 2026, providing strong institutional backing. During the quarter, traffic measured by quarterly unique visitors stood at 192.9 million users, with total active listings increasing 13% YoY to 56.1 million as of June 30, 2026. Geocoded listings increased 19.7% YoY to 41.7 million, while total images across listings climbed 14.1% YoY and 2.6% QoQ to 262.9 million. Active paid campaigns grew by 3.5% YoY to 639,200, while collections increased 13.7% YoY. The company ended the quarter with 160.5 million ratings and reviews, up 4.4% YoY, and web traffic remained largely flat YoY.
Eight analysts currently cover Just Dial, with seven recommending 'Buy' and one having a 'Sell' rating. ICICI Direct has the highest target price on the Street at ₹1,250, implying further upside of 85% from current levels. Kotak retained its 'Buy' rating with a fair value of ₹1,100 per share, while Citi also maintained its 'Buy' recommendation and raised its target price to ₹930 from ₹900. Kotak said the company's revenue growth was driven by 6.2% growth in realisations and 3.5% growth in paid campaigns, while raising its FY27-FY29 revenue estimates by 2-3% but trimming EPS forecasts by 1-2% to account for lower margin assumptions. Kotak highlighted that the company's ₹6,000 crore cash balance provides meaningful downside protection and said the stock continues to trade at an attractive valuation on an ex-cash basis. Citi cautioned that while the company continues to deliver revenue growth, a sustained decline in traffic remains a key risk that could eventually weigh on both metrics.
