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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


FinancialHighlights (Q4 FY2023):IndiaMART reported consolidated Revenue from Operations of Rs. 269 Crore in Q4 FY23, a growth of 33% YoY primarily driven by 20% increase in number of paying subscription suppliers and addition of Rs. 12 Crore revenue from accounting software services. Consolidated Deferred Revenue increased by 28% YoY to Rs. 1,162 Crore as on March 31, 2023.

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/register/WN_4JNgA3fkQz6QlwApjb7sDgand the question-and-answer session will be available online and will be accessible in the Investor Relations section of our website at www.investor.indiamart.com

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