Explained — Three key factors behind the 9% surge in Just Dial shares

Shares of Just Dial Ltd. are trading with gains of as much as 9% on Monday, April 21, after the company reported its March quarter results over the long weekend. The stock is also the top gainer on the Nifty 500 index.

Here are three key factors behind the sharp surge seen in today’s session.

First, Just Dial’s collections went up by 11.3% year-on-year, a growth in double digits, compared to the 3.4% growth it had seen during the December quarter, and the 7.9% growth seen during the September quarter.

Second, the company has cash on books worth over ₹5,200 crore at the end of the March quarter, which is nearly 60% of its overall market capitalisation. This provides downside support for the stock.

Lastly, the margins for the full year went up by 860 basis points to 29.4% from 20.8% at the end of financial year 2024. Operating leverage contributed to the margin improvement.

Overall numbers though, appear to be on the softer side, with revenue growing by only 0.7% on a sequential basis, while margins improved to 29.7% from 20.1% last year.

Net profit for the quarter went up by 20% year-on-year.

Out of the eight analysts that cover the stock, six of them have a “buy” rating on the stock, while one analyst each has a “hold” and “sell” rating on the stock.

Just Dial shares are currently trading 8% higher on Monday at ₹998.3. The stock is still well below its recent peak of ₹1,395. The stock’s 15% surge over the last one month has ensured that it has recovered most of its losses for 2025, and has nearly turned positive year-to-date.