Looks to widen the scope of its “ecosystem” and go “beyond buyer-seller discovery and price matches”
Coming on the back of successful fundraising (QIP) of over ₹ 1,000 crore, B2B e-commerce company, IndiaMART, is eyeing acquisitions and planning strategic investments as it looks to widen the scope of its “ecosystem” and go “beyond buyer-seller discovery and price matches”.
The company plans to strengthen additional services including “payment gateways” – like pay with IndiaMART, receivable management, GST invoicing, accounting services, and conversational commerce across subscribers, that primarily include the small and medium enterprises.
Over the last one year, they have analysed 100 plus different companies as a part of their expansion plan.
“Funds raised will be used towards strengthening our ecosystem by adding more services, like say a payment platform or receivables, order & inventory management, accounting software, and so on. We are open to picking up a minority stake or strategic investments or outright acquisitions in these companies,” Dinesh Agarwal, MD, and CEO, IndiaMART InterMESH Ltd, told BusinessLine.
Agarwal did not rule out the chances of acquisition of competing B2B e-commerce companies if they “help solve problems in a particular vertical that IndiaMART deals with”.
“With increasing competition, there will be verticals that newer B2B e-commerce companies will focus on, thus making them potential acquisition targets for us,” he added.
IndiaMART, listed on the bourses, reported consolidated revenue from operations ₹ 174 crore for the quarter ending December 31, 2020, a 5 per cent year-on-year growth over the last year. The total number of paying subscription suppliers stands at approximately 1.48lakhs with there being a net addition (in Q3FY21) of around 7000.
Deferred revenue (subscriptions due and spread out over the next few quarters) stood at ₹ 633 crore. Subscriptions account for 95 per cent of the company’s turnover
A positive fall out of the pandemic has increased “buyer queries” on the site. Queries are up, 30-40 per cent. Against an average traffic (on the buyer site) of 60 million per month, post-Covid traffic numbers have increased to around 85 million, a month.
However, customers — those listing on the site – continue to prefer short-term one-month subscriptions and memberships; over long-term plans of one-year or three-years. This made the company come-up with six-month packages.
According to Agarwal, IndiaMART saw a recovery “across the board”. Collections from the customers for the period reached ₹ 179 crore, a sequential growth of 9 per cent, quarter-over-quarter.
The December 2020 collections were better than December 2019, pre-COVID levels and business inquiries delivered increased by 37 per cent, YoY, to 154 million with “90 days repeat buyers standing at about approximately 60 per cent”.
“Now, we are back to March 2020 paying customer levels and growth should be positive going forward. Factors like offices opening up, face-to-face meetings resuming, medium-scale businesses regaining confidence, stronger performance of the manufacturing sector and steady economic recovery coupled with the slowing down of infections and speeding up of vaccinations would be important indicators in coming quarters,” Agarwal said.
Indiamart Intermesh Limited updated the exchanges Monday about the allotment of equity shares of the face value of Rs10 each by the company to qualified institutional buyers (QlBs) under-qualified institutions placement (QIP).
The Fund Raise Committee of the Board, at its meeting held on Monday, has considered and approved the allotment of Equity Shares at a price of Rs8,615 per equity share (including a premium of Rs8,605 per equity share, which takes into account a discount of 4.97%, to the floor price of Rs9065.61 per equity share, aggregating to over Rs1,070cr to successful eligible QIBs.
The QIP issue opened on February 17, 2021 and closed on February 22, 2021. Pursuant to the allotment of equity shares in the issue, the paid-up equity share capital of the company stands increased from Rs29.12cr divided into ~2.9cr equity shares of Rs10 each to Rs30.36cr divided into 3.04cr equity shares on Rs10 each.
At around 10.05 am, Indiamart Intermesh Ltd was trading at Rs8931.20 per piece up Rs115.00 or 1.30% from its previous closing of Rs8,816.20 per piece on the BSE.
Indian equities fell the most in two months on Monday, ending lower for the fifth straight session as a rise in active Covid-19 cases across the country dented sentiment. The S&P BSE Sensex ended 2.2% or 1,145 points lower at 49,744 while the NSE Nifty 50 index fell 2% or 300 points to end at 14,675.
The fund raise committee of the company’s board approved allotment of 12,42,212 equity shares to eligible qualified institutional buyers at the issue price of Rs 8,615 per equity share. The QIP issue opened on 17 February 2021 and closed on 22 February 2021.
Allottees who were issued more than 5% of the total equity shares offered in the qualified institutions placement (QIP) are Arisaig Asia Consumer Fund (22.463%), Platinum Asia Fund (11.060%), Driehaus Emerging Markets Growth Fund (9.105%) and Kotak Funds – India Midcap Fund (8.196%).
Pursuant to the allotment of equity shares in the issue, the paid-up equity share capital of the company stands increased from Rs 29,12,15,160 divided into 2,91,21,516 equity shares to Rs 30,36,37,280 divided into 3,03,63,728 equity shares.
IndiaMART proposes to utilize the net proceeds for its future growth and expansion. The net proceeds may be utilized for augmenting long term cash resources, funding the organic or inorganic growth opportunities in the area of the Company’s operations and adjacencies, making investments in companies including in subsidiaries, joint ventures, associates or otherwise (either through debt or equity or any convertible securities), growing existing businesses or entering into new businesses in line with the strategy of the Company or for any other general purposes as may be permissible under the applicable law and approved by the board.
IndiaMART is India’s largest online B2B marketplace for business products and services. The company makes it easier to do business by connecting buyers and sellers across product categories and geographies in India through business enablement solutions.
The company reported 29.35% rise in consolidated net profit to Rs 80.20 crore on 9.2% rise in total income to Rs 198.20 crore in Q3 December 2020 over Q3 December 2019.
Indiamart Intermesh announced that the Fund Raise Committee of the Board at its meeting held on 22 February 2021 has approved the allotment of equity shares at a price of Rs 8615 per equity share (including a premium of Rs 8605 per equity share which takes into account a discount of 4.97% to the floor price of Rs 9065.61 per equity share aggregating to Rs 1070.16 crore to successful eligible QIBs.
The issue opened on 17 February 2021 and closed on 22 February 2021.
Pursuant to the allotment of equity shares, the paid up equity capital of the company stands increased to Rs 30.36 crore dividend into 3,03,63,728 equity shares of Rs 10 each.
The software industry is no longer about writing codes or staying abreast with the current advancement. It is rapidly converting into a game-changer that has introduced us all to a rise in talent demand and upcoming technological advancements. Amid the pandemic, we enablement the technological flow and operations that are growing at an exponential rate including mass hiring and advancements.
Keeping this in mind, TimesJobs invites Mr. Dinesh Gulati, COO of – IndiaMART InterMESH Ltd. to discuss about the “Career in Soft Skills: Outlook and Opportunities in 2021”
Moderator: Welcome to the High Tea Chat Session, Mr. Dinesh Gulati, COO, IndiaMART InterMESH Ltd., will join the chat at 3 PM. Meanwhile you can send your questions related to Career in Soft Skills: Outlook and Opportunities in 2021. Kindly note your questions will be moderated and then sent to the celebrity to answer. Questions already answered by the celebrity will not be entertained.
Mr. Dinesh: Hi, I am Dinesh Gulati, I wish you all a very happy new year and let’s all have a safe year ahead. I welcome you all for this session wherein we will discuss the skills including soft skills required to build a career in 2021, which have become especially important in the post COVID world. The pandemic has left an impact on all aspects of our lives, including our careers, and has encouraged us to develop new skills to be in tune with the new change. One thing that has become a ned for every job seeker is better understanding of technology and we all need to sharpen our understanding on that front , day by day. Lets start this session, and understand what it takes to build a promising career in 2021 and further.
Akshay Anilrao : At present I am on board I am in MSC shipping company as a Trainee Electrical officer but I want to switch my carrier in land can you plz guide me
Mr. Dinesh: Hi Akshay, You can look up any jobs that need your electrical or administrative skills to switch your career to land. You should also explore to add new skill sets specially on tech side. For the current skill set that you have there are many requirements in Power sector , health sector, defence. Since the time Atmanirbhar Bharat and Make in India initiatives have been launched , manufacturing sector has opened up a lot , there are many opportunities on that front as well. best wishes.
Rishi : Hello sir, what do you think will be the future technologies that will make graduates learn new skills?
Mr. Dinesh: Hi Rishi , the millennia generation has best of the opportunities in terms of available technologies and I envy you all for this :-)..
Artificial Intelligence, Machine Learning, Data Science, Analytics Data Engineering, Data Visualization, Network and Information Security (Cybersecurity), Cloud Computing, Extended Reality (Virtual Reality and Augmented Reality),: Internet of Things (IoT), UI/UX Design, Mobile Development, Blockchain, Quantum Computing, Robotics, Product Management, Salesforce/CRMs , Programming Languages in General… list is long and the best part is that all these are available now on many on-line ed-tech platforms
Hemant: Greetings Sir. I am a fresher and looking out for the jobs in CSE department. Can you please explain me the skills that comapnies lookout for in the freshers.
Mr. Dinesh: Hi Hemant, the attitude and aptitude is one of the most important things apart from technical knowledge. As mentioned above you can chose from any of the above mentioned options I shared namely Cybersecurity, Cloud computing, Data analytics and data science and AI/ ML are currently some of the top rated skills. You may pursue any one of them based on your interest.
However if you want to get to the programming / software side , you must get exposure into a Full Stack Developer which means you should be equally proficient in frontend (Client Side ) and backend (Server Side) software development in an App/Web/Cloud based application.. hope this helps
Shikha: Hi, Greetings! I am working as freelance training on different software like Python Pandas HTML basic java and C datastrDatast last 2 years. Before to that I have some experience as Product Manager with a Software start-up. Last 8 months with a desire I have completed some vertical internship and join Hackathon using Machine Learning and Data science project. How do I get an opportunity to work with a Team on Data science and Machine Learning project ?
Mr. Dinesh: Hi Shikha, your are one of the most sought after talent in the industry and all the tech companies including IndiaMART actively look for the right talent for data science and machine learning. If you are interested you can apply for firstname.lastname@example.org and share your details there. Otherwise all the tech companies are looking for talent that you possess .. go to their career site and apply on-line.
Ravi: Sir, did you faced challenges in remote working due to the pandemic? if yes, then please let us know how did you cope with them?
Mr. Dinesh: Hi Ravi we did face the challenges as any other organisation. We were 4000+ people working from almost 80+ offices across the country till 20th March and on 22nd March we had all of them moved to remote working ( WFH). Being a tech company we already had all our data on cloud. VPN and remote access were enabled for the entire team. We provided computers / laptop to all our people and resourced them adequately. We enabled mobile CRMs, video calls etc for our team to improve their productivity. The biggest challenge was to get our people mentally tuned to WFH. That called for regular communication , education and engagement of our team at regular frequency. Long working hours from home sets in an early fatigue , we initiated lot many activities to keep our team engaged to break that monotony .. Communication from Leaders and consistent engagement did work for us besides enabling our people well on infrastructure side.
We ensured Safety and Security ( job) .. that helped for entire team to face this pandemic very well as a single unit..
Sukriti: Greetings sir, where do you see IndiaMART in the coming 10 years? Do you think that the soft skills are going to evolve the company and take it to the whole new level?
Mr. Dinesh: Hi Sukriti we are a business discovery platform with a motto “To make doing business easy for businesses in the country”. Since more than two decades we continue to invest heavily in People and Technology to serve the MSMEs of the country . With improving internet adoption and post Covid, the realisation amongst businesses to adopt technology, we are expecting our core businesses to get a further tailwind. In addition to that we are working on various other initiatives on FinTech , SaaS etc that will provide many more single window solutions that businesses need today . Since our core assets are our People , soft skills are the key ingredients for any service industry to thrive and grow. Since beginning our focus has been to develop/ groom our people well on skills , knowledge & behaviour. We have various unique initiatives already working at IndiaMART and I see our commitment to groom our people further, increasing with every day in times to come.
Sumit: Hello sir, Sir what is your success mantra in life that makes you go forward even with the pandemic and the evolvement we all are witnessing at the present time.
Mr. Dinesh: Hi Sumit there are few basics that one needs to keep always in mind : – The resolve & commitment: We can & we will do it. – Perseverance & Patience – Positive attitude – Team Work besides these the other core skills required are Problem Solving , Communication , Emotional intelligence , Culture Competence.
Lately Digital Engagement and Data Literacy have become the new age skills that one must have to win over any challenges including the current pandemic.
Keshav: Hello sir, I am a B.Tech graduate sir and would like to pursue my career in Artificial Intelligence domain. However, I have prior experience of mobile app development. Can you suggest me something that can help me take a leap?
Mr. Dinesh: Hi Keshav AI is a concept to create intelligent machines that can simulate human thinking capability and behavior, whereas, ML is an application or subset of AI that allows machines to learn from data without being programmed explicitly. AI and ML require good understanding of Data, Business context and Statistical analysis. If you have not taken any course in statistical analysis, then that is a pre-requisite. Most AI/ML course, however, would spend a fair amount of time in teaching Statistics, and problem-solving techniques using regression, distribution, integration and differentiation techniques. You, however, will not be required to write programs to run a regression analysis, as the modern-day technology stacks come with inbuilt libraries to solve these problems. Pyhton, for example, is getting very popular with programmers who want to get into the field of AI/ML.
You also need to have a fair amount of understanding of data structure and cloud platforms as you would need a place to store your data and run your programs. Amazon and Microsoft Azure offer comprehensive technology stacks that you can use at an optimal cost. Joining a structured program will help. There are several courses available online on sites like Coursera, Unacademy etc. These course will introduce to the tools, language, framework, standard algorithms, libraries and a lot of lab problems on simulated data. However, the actual learning will come only when you start implementing the knowledge to solve real business problems. For working people, the best way is to find a sponsor from within your organization’s business side who is willing to spend time with you to explain a business problem and later on validate the output of your model Or in other words find a Capstone Project.
Mr. Dinesh: Thank you very much and my best wishes to all of you for charting a wonderful career ahead.. Keep learning and keep growing is the age proven mantra that will keep you consistently moving up the ladder..
Moderator: Thank you everyone for taking out time to participate in the session. Hope the session was useful for you. We regret that due to time constraint Mr. Dinesh could not answer all questions. The chat transcript of the session will be made available for your future read, soon on the site.
New Delhi, Jan 18 (PTI) B2B e-commerce firm Indiamart Intermesh on Monday posted a 29 per cent rise in its consolidated net profit to Rs 80 crore for the third quarter ended December 31, 2020.The company had reported a net profit of Rs 62 crore in the year-ago period, a regulatory filing said.Its revenue from operations stood at Rs 174 crore in the third quarter of 2020-21, up 5 per cent from Rs 165 crore in the corresponding period last fiscal, it added.
It attributed this growth to “marginal improvement in realisation of existing customers and increase in number of paying subscription suppliers”.Indiamart Intermesh Chief Executive Officer Dinesh Agarwal said, “We are pleased to report a resilient financial performance this quarter with steady recovery in the business parameters while maintaining healthy margins and cashflows.”
He added that the firm sees improvement in overall demand environment and business activity. “Our strong value proposition, customer relationships and balance sheet make us confident of supporting businesses in their transformation to online.”He added that with the emerging accelerated digitisation needs of businesses, the company is looking forward to kick-starting the new year on an optimistic note.
The company said its consolidated deferred revenue declined from Rs 649 crore in the third quarter of FY20 to Rs 633 crore in the December quarter of FY21.On a sequential basis, the net profit was higher by 15 per cent from Rs 70 crore, while revenue was higher by 6 per cent from Rs 163 crore in the September 2020 quarter. PTI SR HRS hrs
India’s biggest online B2B marketplace, IndiaMART reported stellar earnings in the December quarter. The results beat street expectations as paid subscribers grew by nearly 7000 in the quarter.
With COVID-19 driving the shift to digitization, there lies a huge opportunity for IndiaMART which owns platforms for MSME engagement online.
Dinesh Agarwal, CEO of IndiaMART, describes the company as a primary marketplace for small, medium and large business. IndiaMART currently has 100,000 product categories and nearly 6 million plus suppliers from thousands of towns and cities.
“On the online platform, we have 120 million registered buyers displaying close to 70 million products spread across 50 different industry segments. Real utility of the internet for IndiaMART has been discovered during the lockdown,” says Agarwal.
In the absence of marketing and advertising expenses, the organic traffic flowing to the company’s platform is at a skyrocketing rate. Agarwal claims that out of 600-700 million overall internet population in India, IndiaMART receives about 50-60 million monthly visits.
“90% traffic on the platform is from the buyer’s side. All our 1.48 lakh customers come to the platform on a daily basis. This can be to check their inquiries, prices and updates on their orders and new products. Daily unique business inquiries are to the count of 25 million,” Agarwal points out.
IndiaMART’s key focus is taking small businesses online, collating hard to find products, democratizing prices of products which are available in the wholesale markets of the Delhi, Mumbai and Chennai and other metros. About 40% of the company’s online traffic comes from Tier-3 onwards towns, which is over thousands of pin codes across the nation. There’s a far deeper penetration in terms of industry, geography and buyer spread.
Talking about its competitor Just Dial in terms of style, vast difference in perception of value and service overlap, CEO Dinesh Agarwal points out certain differentials.
“To put in plain words, IndiaMART is a product catalogue. We work on hard-to-find products and our supplier directory is far more useful than any player and that is the most important differential. Ours is not a hyperlocal business,” he says.
Meanwhile, in order to increase profitability by means of increasing monetization across the platform, IndiaMART continues to focus on increasing the breadth and depth of products, suppliers and buyers across categories and geographies. Agarwal is of the view that advertising their products and services remains their core engine of optimum monetization and providing value.
Other monetization opportunities that IndiaMART is looking to expore is slowly building an ecosystem of products and services of which some are bundled together whereas some are charged separately. With increasing adoption of internet, the company is also mulling a foray into mobile-based accounting softwares for ease of doing business. No opportunity is currently being explored on the buyer side. Going forward, IndiaMART is exploring opportunities in receivables management, cloud communication, logistics, aggregation, tracking payment facilitation, credit facilitation as well as SaaS and Fintech.
In terms of outlook and valuation, IndiaMART has a dominant market share in the B2B online space, debt-free balance sheet and upfront collection of revenues from subscribers. A spike in online penetration from both buyers and sellers across different industries is bound to take place. The stock recently hit a new 52-week high and has delivered more than 350% from its 52-week low.
Agarwal added that with the emerging accelerated digitisation needs of businesses, the company is looking forward to kick-starting the new year on an optimistic note.
B2B e-commerce firm Indiamart Intermesh on Monday posted a 29 percent rise in its consolidated net profit to Rs 80 crore for the third quarter ended December 31, 2020. The company had reported a net profit of Rs 62 crore in the year-ago period, a regulatory filing said.
Its revenue from operations stood at Rs 174 crore in the third quarter of 2020-21, up 5 percent from Rs 165 crore in the corresponding period last fiscal, it added. It attributed this growth to “marginal improvement in realisation of existing customers and increase in number of paying subscription suppliers”.
Indiamart Intermesh Chief Executive Officer Dinesh Agarwal said, “We are pleased to report a resilient financial performance this quarter with steady recovery in the business parameters while maintaining healthy margins and cashflows.” He added that the firm sees improvement in overall demand environment and business activity. “Our strong value proposition, customer relationships and balance sheet make us confident of supporting businesses in their transformation to online.”
He added that with the emerging accelerated digitisation needs of businesses, the company is looking forward to kick-starting the new year on an optimistic note. The company said its consolidated deferred revenue declined from Rs 649 crore in the third quarter of FY20 to Rs 633 crore in the December quarter of FY21.On a sequential basis, the net profit was higher by 15 percent from Rs 70 crore, while revenue was higher by 6 percent from Rs 163 crore in the September 2020 quarter.
Noida, India, Jan 18, 2021: IndiaMART InterMESH Limited (referred to as “IndiaMART” or the
“Company”), today announced its financial results for the third quarter ending December 31, 2020.
IndiaMART reported consolidated Total Revenue from Operations of Rs. 174 Crore in Q3 FY21, a growth
of 5% y-o-y due to marginal improvement in realization of existing customers and increase in number of
paying subscription suppliers. Consolidated Deferred Revenue declined from Rs. 649 Crore in Q3 FY20 to
Rs. 633 Crore in Q3 FY21.
Consolidated EBITDA was Rs. 88 Crore as compared to Rs. 44 Crore in Q3 FY20. Increase in EBITDA
margin to 51% in Q3 FY21 from 26% in Q3 FY20 was primarily driven by sustained as well as temporary
benefits arising from various cost optimization initiatives. Consolidated EBIT was Rs. 84 Crore a
compared to Rs. 38 Crores in Q3 FY20, representing a growth of 122% y-o-y. EBIT margin increased to
48% in Q3 FY21 from 23% in Q3 FY20.
Profit before Tax was at Rs. 106 Crore and Net Profit was Rs.80 Crores, representing margins of 54% and
Consolidated Cash Flow from Operations for the quarter was at Rs. 77 Crore. Cash and Investments balance
stood at Rs. 1,143 Crore as on December 31, 2020 as compared to Rs. 859 Crore on December 31, 2019,
an increase of 33% YoY.
IndiaMART registered a traffic growth of 35% YoY with 253 million in Q3 FY21 as compared to 188
million in Q3 FY20. Total business enquiries delivered increased to 154 million from 112 million, a growth
of 37%. Supplier Storefronts grew to 6.4 million in Q3 FY21, an increase of 9% YoY and paying
subscription suppliers grew to 148 thousand, a growth of 5%.
Q3 FY2021 vs. Q3 FY2020
Consolidated Revenue from Operations of Rs. 174 Crore, YoY growth of 5%
Consolidated EBIT of Rs. 84 Crore
Consolidated Cash generated from Operations at Rs. 77 Crore
Commenting on the performance, Mr. Dinesh Agarwal, Chief Executive Officer, said:
“We are pleased to report a resilient financial performance this quarter with steady recovery in the business
parameters while maintaining healthy margins and cashflows. As we see the improvement in overall
demand environment and business activity, our strong value proposition, customer relationships and
balance sheet make us confident of supporting businesses in their transformation to online. With the
emerging accelerated digitization needs of businesses, we are looking forward to kickstart the new year on
an optimistic note.”
IndiaMART is India’s largest online B2B1 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
Tower 2, Assotech Business Cresterra,
Floor No.6, Plot No.22, Sec 135,
1st Floor, 29-Daryaganj, Netaji Subash Marg, Delhi – 110002.
For any queries, please contact: email@example.com
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