Categories Research Summary, Research Tear sheet

IndiaMART Research Tear Sheet Q3 FY 2022

IndiaMART InterMESH Ltd. is an Indian e-commerce company. It was incorporated in 1996. The founders are Brijesh Agrawal and Dinesh Agarwal. The company is headquartered in
Noida, Uttar Pradesh, India. It provides B2B and customer to customer sales services via its web portal. The shares are traded on BSE and NSE. In the past 10 yrs IndiaMART has become the largest e-commerce platform for businesses.

Key Financial Highlights

Rs CroresQ3 FY 2022Q2 FY 2022
Total Income210198
Revenue from Operations188174
Net Profit7080

Total Revenue from Operations increased by 8% to  Rs. 188 Crore in Q3 FY22.

Consolidated Deferred Revenue grew by 25% YoY to Rs. 790 Crores.

EBITDA margin is 42% for Q3 FY22.

Profit before Tax stood  at Rs. 93 Crore and Net Profit at  Rs. 70 Crores, showing a margin of 44%.

Cash Flow from Operations shows a 9% growth from operation.

Business Strategies

The company has acquired 7.7% stake in ‘Mynd Solutions Private Limited’ which operates a receivables exchange under the brand name of ‘M1xchange’.

It has acquired 26% stake in ‘Edgewise Technologies Private Limited” which offers AI driven omnichannel inventory and warehouse management solutions to merchants.

Invested in Vyapar Rs 63.5 crores led by the WestBridge Capital and raised stake from 26% to 27%.

Cash Position

The company has a healthy cash position, which will help to expand the sales force. The business has  positive cash balance with a revenue of Rs 42.4 crores and PAT of Rs 11 crores in FY21. The total Cash and Investment balance we have is at Rs 2,523 crores.

Conference Call Highlights

Expenses have increased due to increase in headcount and re-rating of salaries across the markets.

The company has added 5,800 customers in this particular quarter, which had been higher than the previous quarters.

The management expects a cost hike of 15-18% growth over FY23.

Collection from customer grew by 36%.

Due to digital adoption, 50% increase in terms of traffic on an annual basis.

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