Technical Analysis:
Just Dial (JUSTDIAL) remains in a prolonged downtrend from 52W high ₹1,049 to recent 52W low ₹697 (Jan 2026), down 24.69% 1Y vs Sensex +7.73%, trading below all MAs (MA5 ₹871 Sell to MA200 ₹912 Sell) with Strong Sell signals (RSI 37.97 Sell, MACD -47.43 Sell, CCI -120 Sell, Williams %R -97 Oversold). Pivot 5-min ₹871 support key, resistance ₹880/₹890; 52W low test signals capitulation—reversal possible on oversold bounce (STOCH 1.47) if holds ₹697-725 S3 zone, but breakdown risks ₹638 Fib low with no rally continuation likely short-term. Long-term position: Selective yes for digital MSME play, accumulate <₹700.
Fundamental Analysis:
Q3 FY26: Operating revenue strong +YoY/QoQ, EBITDA ₹95 Cr (+10% YoY/+9.4% QoQ, margin record 31.16% +101 bps YoY/+243 bps QoQ on employee cost optimization 58.6%). PAT ₹118 Cr (-10.2-19.44% QoQ, other income 50.77% PBT); 9M growth solid but ROE below avg. Order book/MSME platform growth, JD Pay digital payments; PE high, but op leverage impressive.
Continuous Downfall Reasons/Reversal Outlook:
Yes, 4-day -3.99%, 1Y -24.69%: Q3 PAT down despite revenue, high other income sustainability concern, sector underperformance, MAs below—all bearish. Rally not continuing (prolonged downtrend)—reversal at oversold ₹697 Fib support possible with volume spike.
Key Levels to Watch:
Buy: ₹697-725 (52W low/S3, oversold bounce).
Sell/Stop: <₹638 (Fib low).
Targets: ₹871 PP, ₹880 R1, ₹912 MA200.
Long-term Position:
Yes, undervalued MSME/digital growth (Reliance stake), op margins 31% record—accumulate on weakness despite risks
Recent News Events:
Q3 results (Jan 2026): Revenue/EBITDA beat but PAT miss—share slip. JM Financial Buy TP raised. Impact: Short-term selloff, long positive.
Positive Points:
Record EBITDA margin 31.16% (+243 bps QoQ), employee costs optimized.
MSME platform/JD Pay growth, Reliance 67% stake stability.
Oversold techs hint rebound, JM Buy rating.
Negative Points:
PAT -19% QoQ (other income heavy), 1Y -25% underperform.
Below all MAs Strong Sell, low ROE.
Competitive e-commerce pressure.
Macro View:
Digital India/MSME digitization boom, post-COVID local search demand; ad spend growth tailwinds.
Micro View:
Core search revenue up, cost control strong, but PAT volatility from other income—execution on B2B/MSME key.
Disclaimer:
This analysis is for informational purposes only, not investment advice. Markets carry risks. Investogainer Research assumes no liability.
Conflict of Interest Disclosure:
Investogainer Research holds no position in JUSTDIAL. SEBI Reg INH000012856.