IndiaMART InterMESH (INDIAMART) Q4 22/23 earnings summary

Executive summary

• FY23 growth was led by 25% standalone collections growth and a record 202,690 paying suppliers; investments in sales, servicing, technology and accounting software weighed on margins.

• Consolidated revenue rose 31% YoY to ₹9,854 million, while net profit declined 5% to ₹2,838 million.

• The platform recorded 1,021 million visits, 88 million unique business enquiries and 479 million enquiries delivered; traffic was 100% organic.

Financial highlights

• Consolidated revenue from operations was ₹9,854 million, up 31% YoY; total income was ₹11,659 million.

• Consolidated EBITDA was ₹2,679 million, down 13%; net profit was ₹2,838 million, down 5%; EPS was ₹92.96 versus ₹97.82.

• Consolidated customer collections increased 30% to ₹12,186 million; deferred revenue rose 28% to ₹11,625 million.

• Consolidated operating cash flow increased 18% to ₹4,758 million; cash and treasury investments were ₹23,353 million at year-end.

• Standalone revenue grew 25% to ₹9,388 million; EBITDA fell 16% to ₹2,616 million and PAT declined to ₹2,722 million.

Outlook and guidance

• Priorities include growing buyers and suppliers, expanding product listings and reach, improving AI/ML matchmaking, and broadening business-enablement software offerings.

• Management sees continued opportunity from internet adoption, business digitisation and expansion of India’s SME sector; investment in people, technology, sales and servicing will continue.

• Accounting software is positioned for further adoption as GST compliance expands and businesses seek mobile and cloud access to financial information.