IndiaMART’s revenue from operations grew by 31% YoY in FY23
Noida, India, April 29, 2023: 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, 2023.
|
FY2023 vs. FY2022 |
| § Consolidated Revenue from Operations of Rs. 985 Crore, YoY growth of 31%
§ Consolidated Cash generated from Operations at Rs. 476 Crore; § Consolidated Net Profit of Rs. 284 Crore, § Board of Directors recommended final dividend of Rs. 20 per share § Board of Directors recommended issuance of 1:1 bonus share |
|
Q4 FY2023 vs. Q4 FY2022 |
| § Consolidated Revenue from Operations of Rs. 269 Crore, YoY growth of 33%
§ Consolidated Cash generated from Operations at Rs. 209 Crore § Consolidated Net Profit of Rs. 56 Crore |
The Company continued making growth investments in manpower, product and technology, sales and servicing resulting into growth in revenue and paying subscription suppliers. As a result, consolidated EBITDA was Rs. 66 Crore for Q4 FY23 representing EBITDA margin of 25%.
The Other Income increased to Rs. 31 crores primarily due to fair value gain on treasury investments. Net Profit for this quarter was Rs. 56 Crore representing margin of 19%.
Consolidated Cash Flow from Operations for the quarter was at Rs. 209 Crore. Cash and Investments balance stood at Rs. 2,335 Crore as on March 31, 2023
OperationalHighlights(Q4 FY2023):
IndiaMART registered traffic of 252 million and Unique business enquiries of 22 million in Q4 FY23. Supplier Storefronts grew to 7.5 million, an increase of 6% YoY, and paying subscription suppliers grew to 202,690 a net addition of 8,335 subscribers during the quarter. Total headcount increased by 170 to 4,583 at the end of the quarter with focus on strengthening Sales and Servicing teams.
Commentingon the performance, Mr. Dinesh Agarwal, Chief Executive Officer, said:
“We are happy to close the financial year with a continued growth in customers, revenue, and cash flows while maintaining healthy margins in the business. We continue to invest in further strengthening our product, technology and building strong customer relationships. This remains integral to our long-term strategy to drive profitable growth and leverage our value proposition to create value for all our stakeholders.”
| Particulars |
Unit |
Q4FY23 |
Q4FY22 |
Y-o-Y |
Q3FY23 |
Q-o-Q |
FY23 |
FY22 |
Y-o-Y
Growth |
| Total Income |
(Rs. Crore) |
299 |
231 |
30% |
354 |
(15%) |
1,166 |
866 |
35% |
| Revenue from Operations |
(Rs. Crore) |
269 |
201 |
33% |
251 |
7% | 985 |
753 |
31% |
| EBITDA |
(Rs. Crore) |
66 |
57 |
16% |
70 |
(6%) |
268 |
308 |
(13%) |
| EBITDA Margin |
% |
25% |
28% |
28% |
27% |
41% |
|||
| Other Income |
(Rs. Crore) |
31 |
30 |
4% |
102 |
(70%) |
181 |
112 |
61% |
| Profit Before Tax |
(Rs. Crore) |
76 |
77 |
(1%) |
152 |
(50%) |
371 |
390 |
(5%) |
| Profit Before Tax Margin |
% |
25% |
33% |
43% |
32% |
45% |
|||
| Net Profit for the period |
(Rs. Crore) |
56 |
57 |
(3%) |
113 |
(50%) |
284 |
298 |
(5%) |
| Net Profit Margin |
% |
19% |
25% |
32% |
24% |
34% |
|||
| Collections fromCustomers |
(Rs. Crore) |
418 |
318 |
31% |
283 |
48% | 1,219 |
934 |
30% |
| Cashgeneratedfrom Operating Activities |
(Rs. Crore) |
209 |
158 |
32% |
115 |
82% | 476 |
402 |
18% |
| Deferred Revenue |
(Rs. Crore) |
1,162 |
907 |
28% |
1,015 |
14% | 1,162 |
907 |
28% |
| Cash and Investments |
(Rs. Crore) |
2,335 |
2,419 |
(3%) |
2,108 |
11% | 2,335 |
2,419 |
(3%) |
| Paying Subscription |
(In |
||||||||
| Suppliers |
Thousands) |
203 |
169 |
20% |
194 |
4% | 203 |
169 |
20% |
Q4 & FY23 Earnings Conference Call
IndiaMART InterMESH Ltd, will host earnings webinar for investors and analysts on Friday, April 28 2023 at 16:00 hours IST to discuss its results and developments for the quarter and year ended March 31, 2023. The senior management of the company will be present to address the webinar.
Please see below the registration link for attending the earnings call:
An audio & video recording of the management discussions https://zoom.us/webinar/
