| Revenue growth | 12% YoY growth in consolidated revenue from operations. |
|---|---|
| Margins | EBITDA margin stable at 39%; sustainable guidance 33-35%. |
| Order book | Deferred revenue grew 18% YoY to ₹1,735 crore. |
| Demand visibility | Positive unique business inquiry growth of 17% YoY. |
| Management confidence | Balanced, though cautious regarding the efficacy of new advertising experiments. |
Growth
Consolidated revenue grew 12% YoY; Busy Infotech normalized billing grew 64%, showing strong secondary segment momentum.
Outlook
Management maintains a 33-35% sustainable EBITDA margin guidance despite increased advertising spends.
Risks
High churn in silver monthly subscribers (7%) and stagnant net paying supplier additions (1,500) remain critical bottlenecks.
Last quarter's promises, checked
Delivered
- Guided 33-35% EBITDA margin → delivered 33-34% (= BEAT)
- Guided ARPU-led growth → delivered 8-9% ARPU growth (= BEAT)
- Guided double-digit revenue growth → delivered 13-14% (= BEAT)
Partly delivered
- Guided price hike normalization in 2 quarters → delivered longer pain due to geopolitics (= PARTIAL)
Missed
- Guided net add trajectory 5-6% → delivered <2% (= MISS)
- Guided Silver churn improvement → delivered 2% monthly deterioration (= MISS)
Earnings Call filed with NSE, NSE: INDIAMART. Summary written with AI assistance from the document.
IndiaMART InterMESH Ltd: key numbers
- Share price
- ₹1,600.30
- Market cap
- ₹9,625 Cr
- Revenue (annual)
- ₹1,569 Cr
- Net profit (annual)
- ₹474.7 Cr
- P/E (TTM)
- 19.5×Sector 66.8×
- Promoter holding
- 49.07%-0.05% QoQ
- FII holding
- 19.92%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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