IndiaMART InterMESH Limited – Full Year and Fourth Quarter ending March 31, 2022 – Results Press Release

Noida, India, April 28, 2022: 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, 2022.

Financial Highlights (Q4 FY2022):

IndiaMART reported consolidated Total Revenue from Operations of Rs. 201 Crore in Q4 FY22, a growth of 12% YoY primarily driven by 11% increase in in number of paying subscription suppliers and marginal improvement in realization from existing customers. Consolidated Deferred Revenue grew by 25% YoY to Rs. 907 Crore as on March 31, 2022.

Consolidated EBITDA was Rs. 57 Crore and EBITDA margin for Q4 FY22 stood at 28% as compared to 48% for Q4 FY21. The margin declined primarily due to investments being made for growth in manpower as well as sales and distribution which has resulted into increased customer addition. Consolidated EBIT for the period was Rs. 54 Crore with EBIT margin of 27% in Q4 FY22.

Profit before Tax was at Rs. 77 Crore and Net Profit was Rs. 57 Crores, representing margins of 33% and 25% respectively.

Operational Highlights (Q4 FY2022):

IndiaMART registered traffic of 260 million and Unique business enquiries of 23 million in Q4 FY22. Supplier Storefronts grew to 7.1 million, an increase of 13% YoY and paying subscription suppliers grew to 169,324, a net addition of 13,065 subscribers during the quarter. 

Strategic Investments (Q4 FY2022):

IndiaMART continues to make investments in strategic avenues with the objective of building a comprehensive e-commerce ecosystem for business enablement on the platform. During the quarter, following investments were announced by the company:

• 26% stake (for Rs. 104 Crore) in ‘IB MonotaRO Private Limited’ operating an E-commerce platform for industrial and business supplies under the brand name of ‘Industry Buying’.

• 16.5% stake (for Rs. 91 Crore) in ‘Fleetx Technologies Private Limited’, a freight and fleet management software helping fleet operators and businesses digitize logistics operations and improving safety, efficiency and sustainability of vehicles and operations through IoT based analytics services.

• 51% stake (for Rs. 46 Crore) in ‘Finlite Technologies Private Limited’ which under the brand name of ‘Livekeeping’, is offering digital integration with mobile based applications, analytical tools, API`s for integration with e-commerce platforms over existing on-premise accounting software.

• 10% stake (for Rs. 17 Crore) in ‘Zimyo Consulting Private Limited’ offering SaaS based human resource management software, allowing users to execute critical HR processes.

• 26% stake (for Rs. 13.8 Crore) in ‘Adansa Solutions Private Limited’ which under the brand name of ‘Realbooks’ offers cloud-based accounting software product for medium to large businesses with multi location real time accounting.

• Company has also participated in Series-B investment round of associate company, ‘Simply Vyapar; and currently hold 27% stake, on a post-transaction basis.

In April 2022, IndiaMART completed acquisition of 100% stake (for Rs. 500 Crore) of ‘Busy Infotech Private Limited’, one of the largest accounting software companies in India. It offers business accounting solutions, GST billing & return filing, inventory management and other services.

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

“We are happy to close the financial year on a strong note with growth in customers, revenue and cash flows while maintaining healthy margins in the business. Growing cash flow from operations resulting into strong balance sheet enables us to build newer capabilities as well as create a large talent pool to meet the evolving customer needs. With the increasing internet adoption, we remain committed to enabling businesses to transform themselves as well as building a strong and sustainable foundation for leveraging the growth opportunities ahead to create long term shareholder value.”

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.

For any queries, please contact: investors@indiamart.com