Indiamart Intermesh Ltd

IndiaMART InterMESH will hold a meeting of the Board of Directors of the Company on 29 April 2025.Powered by Capital Market - Live

The domestic equity benchmarks traded with substantial gains in the morning trade. The Nifty traded above the 23,100 level. Realty shares extended losses for the second consecutive trading session. At 10:30 IST, the barometer index, the S&P BSE Sensex rose 363.90 points or 0.48% to 76,202.26. The Nifty 50 index added 79.70 points or 0.35% to 23,104.35. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index dropped 1.21% and the S&P BSE Small-Cap index fell 1.29%. The market breadth was strong. On the BSE, 1,042 shares rose and 2,477 shares fell. A total of 164 shares were unchanged. Buzzing Index: The Nifty Realty index dropped 2.66% to 882.25. The index tumbled 7.17% in two consecutive trading sessions. Oberoi Realty (down 5.55%), Prestige Estates Projects (down 4.71%), Macrotech Developers (down 3.79%), Godrej Properties (down 3.26%), Raymond (down 2.97%), Phoenix Mills (down 2.02%), DLF (down 1.79%), Sobha (down 1.75%), Brigade Enterprises (down 1.49%) and Mahindra Lifespace Developers (down 1.17%) declined. Stocks in Spotlight: IndiaMART InterMESH slumped 7.12%. The company has reported 48% rise in net profit to Rs 121 crore on a 16% increase in revenue from operations to Rs 354 crore in Q3 FY25 as compared with Q3 FY24. RaiTel Corporation of India declined 2.90%. The company said that it has received order from Dy.Cste Construction Ajmer Division, North Western Railway for signaling work. Dalmia Bharat rose 0.53%. The company's consolidated net profit tumbled 75.2% to Rs 66 crore as compared with Rs 266 crore Revenue fell 11.7% YoY to Rs 3,181 crore during the quarter. Powered by Capital Market - Live

The revenue includes IndiaMART standalone revenue of Rs 337 crore and Busy Infotech revenue of Rs 16 crore, registering a growth of 16% and 30%, respectively, on YoY basis. Collections from Customer grew by 10% to Rs 363 Crore for the quarter, primarily comprising of standalone collections of Rs 341 crore and Busy Infotech collections of Rs 20 crore. Profit before tax in Q3 FY25 stood at Rs 161 crore, up by 35% from Rs 119 crore in Q3 FY24. Deferred revenue as on 31 December 2024 increased to Rs 1,492 crore, representing a YoY growth of 17% but remained flat as compared with Q2 FY24. This primarily includes IndiaMART standalone deferred revenue of Rs 1,430 crore and Busy Infotech deferred revenue of Rs 57 crore. IndiaMART registered unique business enquiries of 27 million in Q3 FY25, representing a YoY growth of 17%. Supplier storefronts grew to 8.2 million, an increase of 5% YoY, and paying suppliers as at the end of the quarter were 214K, up 1% YoY but down 2% on a sequential basis. Cash flow from operations for the quarter was Rs 114 crore. Cash and investments balance stood at Rs 2,606 crore as on 31 December 2024. Dinesh Agarwal, chief executive officer, said: 'This quarter, we saw healthy growth in revenue and operating margins, along with a modest increase in deferred revenue and cash flow. We continue to focus on onboarding quality suppliers, improving matchmaking relevancy, and enhancing the overall user experience on our platform.' A foreign brokerage has reportedly downgraded Indiamart Intermesh to 'neutral'. The brokerage reportedly stated that the decision to downgrade the stock follows an unexpected decline in the company's paying subscriber base and weak gross customer additions. Additionally, high customer churn raises concerns about future growth. The brokerage reportedly anticipates that collections could remain weak in the near to medium term. IndiaMART is India's largest online B2B marketplace for business products and services. The company connects buyers and sellers across product categories and geographies in India through business enablement solutions. The scrip slumped 7.19% to currently trade at Rs 2128.60 on the BSE. Powered by Capital Market - Live

Net profit of Indiamart Intermesh rose 47.74% to Rs 121.00 crore in the quarter ended December 2024 as against Rs 81.90 crore during the previous quarter ended December 2023. Sales rose 16.05% to Rs 354.30 crore in the quarter ended December 2024 as against Rs 305.30 crore during the previous quarter ended December 2023. ParticularsQuarter EndedDec. 2024Dec. 2023% Var. Sales354.30305.30 16 OPM %35.0625.71 - PBDT167.30118.00 42 PBT159.00109.60 45 NP121.0081.90 48 Powered by Capital Market - Live

IndiaMART InterMESH will hold a meeting of the Board of Directors of the Company on 21 January 2025.Powered by Capital Market - Live

IndiaMART Intermesh has allotted 53,000 equity shares under ESOP on 04 December 2024. With this allotment, the paid up equity share capital has increased to Rs. 60,03,21,480/- (6,00,32,148 Equity Shares of Rs. 10/- each). Powered by Capital Market - Live

The brokerage said that even as the company reported in-line Q2 results, subscriber growth remains weak, leading to a moderation in collections growth to just 5% year-on-year, a key negative from the quarter. The broker forecasts collections growth to range between 10-15% unless subscriber additions improve. The firm has also cut its estimates by 4-12%, citing a continued rise in subscriber churn despite multiple management interventions, which has been a negative surprise. Meanwhile, another foreign broker maintained a 'neutral' stance with a target price of Rs 3,150, pointing to weak collections and low subscriber additions as major factors dampening near-term prospects. The brokerage highlighted that, unlike previous trends, weak collection per customer growth is now coinciding with consistently low subscriber additions, averaging around 2,000 per quarter over the last five periods. On a standalone basis, IndiaMART InterMESH's revenue from operations increased to Rs 332 crore as compared to Rs 281 crore last year, representing a YoY growth of 18%. The growth was primarily driven by around 14% improvement in realization from paying suppliers and the remaining by increase in number of paying suppliers. Collections from customer grew to Rs 337 crore for the quarter (+5% YoY) and deferred revenue as on 30 September 2024 increased to Rs 1,426 crore (+18% YoY). EBITDA for the quarter was at Rs 120 crore (+48% YoY), representing margin of 36% (vs. 29% last year). Net profit for the quarter was at Rs 127 crore (+53% YoY), representing margin of 32% (vs. 26% last year). IndiaMART registered Unique business enquiries of 28 million in Q2FY25, representing a YoY growth of 14%. Supplier Storefronts grew to 8 million, an increase of 5% YoY and paying suppliers grew to 218K representing net addition of 2.4K subscribers during the quarter. Commenting on the performance, Dinesh Agarwal, chief executive officer, said: We have closed the second quarter with healthy growth in revenue and operating margins along with modest growth in deferred revenue and cash flows. We stay committed to the vision of 'Make Doing Business Easy' and enable businesses to grow online. We continue to focus on improving the experience of buyers as well as suppliers and strengthen our value proposition further. On the back of healthy cash flows and increasing internet adoption by businesses, we stay confident of the sustained profitable growth for the times to come. IndiaMART is India's largest online B2B marketplace for business products and services. IndiaMART makes it easier to do business by connecting buyers and sellers across product categories and geographies in India through business enablement solutions. IndiaMART provides ease and convenience to the buyers by offering a wide assortment of products and a responsive seller base while offering lead generation, lead management and payment solutions to its sellers. Powered by Capital Market - Live

Net profit of Indiamart Intermesh rose 94.67% to Rs 135.10 crore in the quarter ended September 2024 as against Rs 69.40 crore during the previous quarter ended September 2023. Sales rose 17.98% to Rs 347.70 crore in the quarter ended September 2024 as against Rs 294.70 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales347.70294.70 18 OPM %35.0623.41 - PBDT185.50101.30 83 PBT177.3093.30 90 NP135.1069.40 95 Powered by Capital Market - Live

IndiaMART InterMESH will hold a meeting of the Board of Directors of the Company on 19 October 2024.Powered by Capital Market - Live