IndiaMART InterMESH Limited Full Year and Fourth Quarter Ending March 31, 2024

IndiaMART InterMESH Limited (referred to as “IndiaMART” or the “Company”), today announced its financial results for the full year and fourth quarter ending March 31, 2024.

 Consolidated Financial Highlights (Q4 FY2024):

IndiaMART reported consolidated Revenue from Operations of Rs. 315 Crore as compared to Rs. 269 Crore in the corresponding quarter of last year, representing a growth of 17%. This includes IndiaMART Standalone Revenue of Rs. 299 Crore and Busy Infotech Revenue of Rs 14 Crore, registering a growth of 17% and 24% respectively on YoY basis.

Collections from Customer grew by 16% to Rs. 484 Crore for the quarter, primarily comprising of Standalone Collections of Rs. 465 Crore and Busy Infotech Collections of Rs 18 Crore representing a growth of 16% and 24% respectively.

Deferred Revenue as on March 31, 2024 increased to Rs. 1,440 Crore representing a YoY growth of 24%. This primarily includes IndiaMART Standalone Deferred Revenue of Rs. 1,395 Crore and Busy Infotech Deferred Revenue of Rs. 43 Crore, registering a growth of 23% and 59% respectively on YoY basis.

Net Profit for the quarter was Rs. 100 Crore representing margin of 25%. Cash Flow from Operations for the quarter was Rs. 260 Crore. Cash and Investments balance stood at Rs. 2,340 Crore as on March 31, 2024.

 Standalone Financial Highlights (Q4 FY2024):

Standalone Revenue from Operations increased to Rs. 299 Crore as compared to Rs. 256 Crore last year representing a growth of 17%. The growth was primarily driven by 10% improvement in realization from paying suppliers and 6% increase in number of paying suppliers.

Collections from Customer grew to Rs. 465 Crore for the quarter and Deferred Revenue as on March 31, 2024 increased to Rs. 1,395 Crore representing a YoY growth of 23%.

EBITDA for the quarter was at Rs. 90 Crore representing EBITDA margin of 30%. Net Profit for the quarter was at Rs. 92 Crore representing margin of 27%.

 Operational Highlights (Q4 FY2024):

IndiaMART registered Unique business enquiries of 24 million in Q4 FY24; representing a YoY growth of 14%. Supplier Storefronts grew to 7.9 million, an increase of 5% YoY and paying suppliers grew to 214K representing net addition of 3K subscribers during the quarter.

Commenting on the performance, Mr. Dinesh Agarwal, Chief Executive Officer, said:

We have closed the financial year with a steady growth in revenue, deferred revenue, profits and cash flows. Our focus remains on enabling more and more businesses to grow online by providing them a great product and customer experience. On the back of strong cash flow from operations and continued investments in further strengthening of our value proposition, we remain confident of sustained profitable growth amidst rising internet adoption amongst businesses.