IndiaMART InterMESH Limited Third Quarter ending December 31, 2021 – Results

Noida, India, January 24, 2022: IndiaMART InterMESH Limited (referred to as “IndiaMART” or the “Company”), today announced its financial results for the third quarter ending December 31, 2021.

Financial Highlights (Q3 FY2022)

IndiaMART reported consolidated Total Revenue from Operations of Rs. 188 Crore in Q3 FY22, a growth of 8% YoY driven by improvement in realization from existing customers and increase in number of paying subscription suppliers. Consolidated Deferred Revenue grew by 25% YoY to Rs. 790 Crore as of 31 December 2021.

Consolidated EBITDA was Rs. 79 Crore. EBITDA margin for Q3 FY22 stood at 42%. Consolidated EBIT for the period was Rs. 75 Crore with EBIT margin of 40% in Q3 FY22.

Profit before Tax was at Rs. 93 Crore and Net Profit was Rs. 70 Crores, representing margins of 44% and 33% respectively.

Consolidated Cash Flow from Operations for the quarter was at Rs. 84 Crore, a year-on-year growth of 9%. Cash and Investments balance stood at Rs. 2,523 Crore as on December 31, 2021.

Operational Highlights (Q3 FY2022)

IndiaMART registered traffic of 259 million and unique business enquiries of 23 million during Q3 FY22. Supplier Storefronts grew to 7 million, an increase of 10% YoY and with a net addition of 5,833 subscribers during Q3 FY22, paying subscription suppliers grew to 156 thousand.

Further, during the quarter, IndiaMART has acquired:

  • 7.7% stake in ‘Mynd Solutions Private Limited’ which operates receivables exchange under thebrand name of ‘M1xchange’. Mynd Solutions Private Limited is one of the RBI licensed entities to set up TReDS platform to facilitate invoice discounting for MSMEs.
  • 26% stake in ‘Edgewise Technologies Private Limited” offers AI driven omnichannel inventory and warehouse management solutions to merchants under the brand name of ‘EasyEcom”. It allows merchants to allocate, track and reconcile inventory across online and offline sales channels.

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

“We are pleased to report a good financial performance in this quarter with growth in customers and deferred revenue with healthy margins and cash flows. Growing internet adoption strengthens our value proposition of helping businesses transform themselves to do business online. On the back of a strong balance sheet and cash flow from operations, we will continue to invest in our employees and product offerings for our customers that create long-term value for our shareholders.”

About IndiaMART:

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.

IndiaMART InterMESH Ltd. CIN :L74899DL1999PLC101534

Corporate Office

Tower 2, Assotech Business Cresterra, Floor No.6, Plot No.22, Sec 135, Noida-201305, U.P.

Registered Office

1st Floor, 29-Daryaganj, Netaji Subash Marg, Delhi – 110002. For any queries, please contact:

The Times of India | Business Standard | The Financial Express | The Economic Times | Moneycontrol