Noida, India, July 21, 2020: IndiaMART InterMESH Limited (referred to as “IndiaMART” or the
“Company”), today announced its financial results for the first quarter ending June 30, 2020.
Financial Highlights (Q1 FY2021):
IndiaMART reported consolidated Total Revenue from Operations of Rs. 153 Crore in Q1 FY21, a growth
of 4% y-o-y, primarily driven by marginal improvement in realization of existing customers. Number of
paying subscription suppliers were same as last year due to the challenging economic and market conditions
amidst the Covid-19 pandemic. Consolidated Deferred Revenue grew by 3% from Rs. 610 Crore in Q1
FY20 to Rs. 628 Crore in Q1 FY21.
Consolidated EBITDA was Rs. 73 Crore as compared to Rs. 37 Crore in Q1 FY20, representing a growth
of 100 % y-o-y. EBITDA margins increased to 48% in Q1 FY21 from 25% in Q1 FY20 primarily driven
by various cost optimization measures leading to sustained and temporary rationalization of expenses.
Consolidated EBIT was Rs. 69 Crore as compared to Rs. 32 Crores in Q1 FY20, representing a growth of
113% y-o-y. EBIT margin increased to 45% in Q1 FY21 from 22% in Q1 FY20.
Profit before Tax was at Rs. 100 Crore and Net Profit was Rs. 74 Crores, representing margins of 54% and
Consolidated Cash Flow from Operations for the quarter was at Rs. 3 Crore. Cash and Investments balance
stood at Rs. 954 Crore as on June 30, 2020 as compared to Rs. 746 Crore on June 30, 2019, an increase of
Operational Highlights (Q1 FY2021):
Traffic grew to 191 million in Q1 FY21 from 184 million in Q1 FY20, an increase of 4% YoY and total
business enquiries delivered increased to 131 million from 113 million, a growth of 16%. Supplier
Storefronts grew to 6.1 million in Q1 FY21 an increase of 8% YoY and paying subscription suppliers were
133 thousand, same as Q1 FY20.
Commenting on the performance, Mr. Dinesh Agarwal, Chief Executive Officer, said:
“I am pleased to report a modest financial performance this quarter as the ongoing adverse market
conditions had an anticipated impact on our customers, revenue, deferred revenue and cashflow from
operations. While we managed to improve profitability due to cost optimization measures, our focus
remained to stand by our employees and customers during these testing times. Given the overall uncertainty
of how long this continues, our strong balance sheet and a resilient business model will help us to navigate
through the ongoing crisis and as the businesses realize the need of transforming themselves to online, our
strong value proposition will help us in getting back to growth soon.”
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.