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 email@example.com 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: firstname.lastname@example.org
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The year 2020 was tough for Indian businesses and MSMEs. The COVID-19 pandemic changed the rules of the game, forcing entrepreneurs to find new ways to thrive and survive. As we step into 2021, SMBStory lists out some key learnings by entrepreneurs and their vision for 2021.
For generations, most Indian businesses stuck to a straight, simple, and convenient way of running their operations.
Though the startup ecosystem emerged in the early 2000s and is much younger than the traditional, family-run business setups, according to the global innovation mapping and research company StartupBlink, Indian startups globally ranked 23rd among 202 countries, based on their strength.
But what has made the startup culture more favoured over decades-old established companies?
The answers can be found in faster digital adoption, easy access to funding, better infrastructure, larger spending potential, and so on. But the crux lies in innovation.
Indian MSMEs and other larger businesses have traditionally operated against the flow of the changing times, which led to many of them operating out of the comfort zones, but the coronavirus pandemic has forced them to shift gears.
The worst-ever global health emergency in recent times, COVID-19 has proven to be highly unpredictable. From the start, no business was either prepared for such a scenario or was aware of measures that needed to be undertaken to sustain themselves.
When the virus reached India’s shores in January 2020, businesses started to suffer, and post the announcement of the lockdown in late March, when all human activity came to a standstill, businesses also had to face a hard shutdown.
Shops closed, factories shut, imports halted, and exports banned; no entrepreneur would have been prepared for such a disruptive scenario.
The time was tough, and immediate measures were required to survive the lockdown. Indian MSMEs and small businesses stepped up their game by pivoting, innovating, and moving their operations online.
The pandemic taught major business lessons throughout the year. Even though entrepreneurs changed their conventional ways and adapted, some gaps and challenges still need to be addressed.
Greeting 2021 with open arms, SMBStory has listed out some of the key learnings from 2020 and how Indian MSMEs and entrepreneurs are looking at the way ahead in 2021.
In May 2020, during the announcement of a COVID-19 related economic package, Prime Minister Narendra Modi first mentioned his vision of an Aatmanirbhar Bharat (self-reliant India). Sparking enthusiasm among entrepreneurs, he said in his speech,
“COVID-19 phase has taught the nation that we must make ‘local’ the mantra of our lives. Global brands that are there present today were once local; they became global when people started supporting them. Hence, starting today, every Indian must become vocal for local.”
This came as a much-needed push for the Indian MSMEs and large businesses.
Finance Minister Nirmala Sitharaman rolled out a slew of initiatives under the Rs 20 lakh-crore Aatmanirbhar Bharat stimulus package. Of the 15 schemes announced by the FM, six were for MSMEs. Three policies that stood out were the Rs 3 lakh crore collateral-free loan scheme, the Rs 20,000 crore subordinated debt for MSMEs, and the Rs 50,000 crore equity infusion through the Funds of Funds (FoF). The government also tweaked the definition of MSMEs to include a larger pool of companies to benefit from the sector.
Ashok Rajpal, Founder of electronics brand Ambrane, says that the government initiatives have lent a helping hand to MSMEs by bringing various schemes to the fore. He says, “The national Ease of Doing Business Policy has put the onus on bureaucrats and has asked for justifications on compliance requirements that have been placed on the businesses for a quite long time. The finance minister also said that the ‘Aatmanirbhar Bharat package shall not be just a financial package, but a reform stimulus, a mindset overhaul, and a thrust in governance.’”
Apart from offering monetary relief, the government also encouraged Indian entrepreneurs to grow technologically.
According to an IBEF report, in September 2020, India moved four places up to reach the 48th rank, breaking into the list of top 50 countries in the Global Innovation Index (GII) for the first time. This shows that the Indian businesses and MSMEs, which strived to adapt to technological advancements, have moved upwards despite facing disruptive times.
The year 2020 has proven to be a learning curve for everyone. For entrepreneurs, getting back to normalcy was a hard nut to crack, and the two major learnings that they aim to implement in 2021 are: managing cash better and digital innovation.
Umar Akhar, Founder of Bengaluru-based Koskii, says every entrepreneur must increase efficiency and manage cash better. “As entrepreneurs, we are always very optimistic and leverage business as much as we can for growth. Due to the pandemic, we will be cautiously optimistic and ensure that we have enough resources to sustain in an event like this,” he adds.
Koskii, which was predominantly present in the offline space for women’s apparel and occasion wear, took the opportunity presented by the pandemic to implement automation and artificial intelligence in the procurement processes to get the right product to the right place at the right time.
The entire software development was done during the pandemic and has resulted in significant improvement in efficiency and reduced the company’s inventory holding by 40 percent. The company is now able to execute the same tasks that it did pre-pandemic, with 40 percent of the team size.
Koskii focused on selling online during the pandemic and its online gross revenue — which was not very significant earlier — has grown 5x in the last few months.
Seven-decade-old brand Cycle Pure Agarbathies also leveraged its online business model to provide products at consumers’ doorstep through its own portal. It also launched a mobile-based application “Pure Prayer” to connect devotees to the divine.
Dinesh Agarwal, Founder and CEO of IndiaMart, says India received a boost in manufacturing capabilities during the pandemic. This rise of internet adoption and the strong focus on making India Aatmanirbhar seems to be a promising long-term trend that will help in boosting the overall economy.
The coronavirus pandemic made the SMEs realise that they needed to adopt technology and constantly power themselves with digital tools to survive and thrive.
Rajneesh Kumar, Chief Corporate Affairs Officer of Flipkart Group, says the pandemic has helped MSMEs understand the potential of technology and ecommerce. He says, “The aftermath of the pandemic has had a multi-sector impact. MSMEs, the backbone of India’s economy, faced severe disruptions, and the pandemic became a call to accelerate reform and growth for them. MSMEs need to use digital tools and technology, they have to modernise, and update themselves with digital processes.”
Ashwini Malhotra, Managing Director of one of India’s leading custard brands Weikfield, also says 2020 saw a huge spike in online demand, especially through ecommerce platforms.
Jagjeet Harode, Head of Marketplace, Flipkart says that in 2020, ecommerce played an even more essential role as businesses re-evaluated their operations, emerging as a preferred channel to connect with consumers nationwide.
Since the nationwide COVID-19 induced lockdown, Flipkart has seen an increased interest from MSMEs and sellers to onboard the platform. He says there was close to a 90 percent jump in sellers joining Flipkart, especially in the second half of 2020 (July- Dec), once the market opened up, as compared to the same period last year.
These sellers came from Tier II and III regions such as Tirupur, Howrah, Zirakpur, Hisar, Saharanpur, Panipat, and Rajkot. They primarily catered to categories such as household needs, women’s ethnic wear, grooming, home decor, toys, and school supplies.
Another strong trend that has emerged out of the pandemic is that an increasing number of businesses are adopting the direct-to-consumer (D2C) business model.
The D2C business model helps in creating stickiness and establishes customer-centricity, according to Ashutosh Singh, Co-founder of D2C FMCG band, Yayy! Naturals. He says, “Millennials don’t stick with brands, they stick with a cause, which in our case is to make products in a sustainable manner.”
Ashutosh believes that interacting with customers through the brand’s social media platform helps in creating an indelible connection with the consumers.
Cloud adoption has been one of the biggest enablers for SMBs. Harish Vellat, Country Head – Small, Medium and Corporate Business, Microsoft India says that the technologically advanced SMBs showed more business resilience since remote working allowed them to continue being productive in a secure environment.
Recovering from the crisis, tech-enabled SMBs can now focus on optimising their operations, reimagining their businesses, and transforming products or services with the power of advanced technologies.
“There is enormous opportunity for SMBs to grow and scale in 2021 with the power of technology, and Microsoft is committed to support them in achieving more,” he adds.
Tejas Goenka, Managing Director of Tally Solutions, believes there is a lot of potential for investments in basic infrastructure and communication. He says even though India has seen rapid digital solutions adoption among MSMEs in recent years, there is scope for a lot more.
He says, “Businesses will need to look at digitising several processes, allowing them to have better control over their business in a largely uncertain future. Investments, especially in core business systems like accounting and inventory management systems, will bring greater visibility and control.”
He concludes that investments in running 24×7 businesses through ecommerce, and in systems that enhance coordination, will increase.
The last year has been undeniably tough for Indian SMBs, which had to prove their resilience and their willingness to adapt to change. However, there’s still a long road to traverse.
Vineet Agarwal, President of ASSOCHAM, says while organised and large businesses have shown a smart recovery in the midst of COVID-19, the bounce-back among MSMEs has not been commensurate. He says, “With more and more people learning to manage their affairs safely, recovery would go deep down the value chain.” He also believes that while sectors like transportation, hospitality etc, will see recovery in 2021. MSMEs would need continued hand-holding by banks, their large customers including PSUs, and forbearance by regulators to smoothen the creases.
Nipun Gupta, of Springfit Mattresses, says one of the ways the government can bolster MSMEs is by calculating the creditworthiness of small businesses using software, rather than having the staff make these decisions. MSMEs can attract large-scale foreign investment, which is needed under present circumstances to boost the economy.
Diagnostic companies, drug makers and information technology companies have seen the biggest increases in stock target prices by analysts after their September quarter results. Banks and public sector companies have seen the biggest target price cuts, according to an analysis of BSE500 companies tracked by at least five analysts. Majority of the target price increases have come on the back of strong earnings growth in the quarter. For instance, the consensus target price for Laurus Labs has increased by 99.8 per cent to Rs 361.86 after the company registered a four-fold jump in consolidated net profit to Rs 242.3 crore in the September quarter.
The consensus target price for IndiaMART NSE -0.24 % InterMESH, Somany Ceramics, Thyrocare Technologies and Wipro has increased by 31-96 per cent. Cyient, Persistent Systems, Coforge, KPIT Technologies, Infosys and TCS increased by 22-28 per cent. “IT companies reported record margins and growth outlookalso improved… Diagnostic companies gained because of Covid-19 testing and their operations were not impacted by the pandemic,” said Abhimanyu Sofat, head of research at IIFL Securities.
“The September quarter earnings season was good as the economy was rebounding and there was stocking ahead of the festive season. The true story of recovery will be known by January,” said Sofat. PSU banks and other public sector units are among those with biggest target price cuts. Indian Bank, Edelweiss Financial Services, Union Bank, Punjab National Bank, NMDC, and BHEL saw their consensus target prices being trimmed by 5-24 per cent.
Online B2B marketplace IndiaMART in November sued Justdial in the Delhi High Court alleging that it copied the website compilations for its online marketplace, Jd Mart. Justdial called IndiaMART’s allegations “baseless” and even accused them of illegal activities. The court granted interim relief to IndiaMART by staying the launch of Jd Mart and ordered searches on Justdial’s premises.
The bitter competition between India’s two oldest online platforms – IndiaMART NSE -0.24 % and Just Dial NSE 5.32 % – has now reached the court.
Delhi High Court has ordered an investigation into an alleged data theft by the classified search company Just Dial. Based on a case filed by India’s oldest e-commerce platform IndiaMART, the court last week appointed three local commissioners to reportedly survey the Just Dial premises along with local police and IndiaMART representatives and submit a detailed report to the court.
The court has also restrained Just Dial from using the word JDMART.
Shares of Just Dial have rallied nearly 60% since October 16 after it showcased its business-to-business (B2B) specific offering called the JD Mart. With JD Mart, the company will look to enter B2B classified space and compete with IndiaMART.
India Mart has alleged that Just Dial has indulged in slavish imitation of its content which runs into several thousands of pages and even copied the design and presentations of its customers.
According to sources aware of the development, the Delhi High Court has ordered that the local commissioners make an inventory of all the copies of the database comprising the Just Dial website, its mobile site and mobile application. The court also has asked the commissioners to take the mirror images of the entire database of the CPUs, hard disks, laptops and storage media of the Just Dial in respect of its launch of its proposed B2B project JD Mart.
Confirming the developments, Dinesh Agarwal, CEO of IndiaMart said it brought this matter to the notice of the court, which directed an on-ground investigation.
“We observed mass slavish copying of our data and copyrightable work like entire taxonomy category trees along with the bulk of supplier profiles, product names, photos, prices, description and specifications,” he said.
Abhishek Bansal, chief financial officer, Just Dial, said the company is pursuing all legal remedies in the Delhi High Court to counter Indiamart’s “absolutely baseless and frivolous allegations.”
“We respect the order; however it is pertinent to clarify that the order was passed ex parte and to date, we have not been served with a complete set of paperwork. We will present our position before the High Court shortly.”
He further clarified that the JD Mart platform’s development is running as per planned schedule and the product shall be launched in due course of time after seeking recourse from the Delhi High Court.
Just Dial has also alleged that IndiaMART are themselves indulging in illegal activities in all possible manner. “They have not only committed this crime of data theft but have also flouted the government’s SOP (guidelines) during their recent visit to our premises under the garb of an ex-parte order thereby jeopardising the health, life & limb of our employees” said Abhishek Bansal of Just Dial.
Motilal Oswal has given a buy rating to IndiaMART InterMESH with a target price of Rs 5830. The share price moved up by 0.70 per cent from its previous close of Rs 4964.90. The stock’s last traded price is Rs 4999.45.
IndiaMART InterMESH Ltd., incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 14554.08 Crore) operating in Services sector.
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 163.20 Crore, up 6.60 % from last quarter Sales of Rs 153.10 Crore and up 4.21 % from last year same quarter Sales of Rs 156.60 Crore Company reported net profit after tax of Rs 70.00 Crore in latest quarter.
The brokerage values IndiaMART on a DCF basis at INR5,830 per share (+17% upside), on an assumption of 11% WACC and 5% terminal growth rate, implying a oneyear forward multiple of 55x.
Promoters held 52 per cent stake in the company as of Sept 30, 2020, while FIIs held 22.3 per cent, DIIs 5.7 per cent and public and others 20 per cent.