Indiamart Intermesh

On consolidated basis

Quarter ended December 2024 compared with Quarter ended September 2024.

Net sales (including other operating income) of Indiamart Intermesh has increased 1.90% to Rs 354.3 crore.  

Operating profit margin has jumped from 38.71% to 39.03%, leading to 2.75% rise in operating profit to Rs 138.30 crore.  Employee cost increased from 42.39% to 43.18%.   Other expenses fell from 18.90% to 17.78%.   

Other income fell 31.45% to Rs 44.9 crore.  PBIDT fell 8.45% to Rs 183.2 crore.  Provision for interest fell 5.26% to Rs 1.8 crore.  

PBDT fell 8.48% to Rs 181.4 crore.  Provision for depreciation rose 1.22% to Rs 8.3 crore.  

Profit before tax down 8.89% to Rs 173.10 crore.  Share of profit/loss was 11.02% lower at Rs -14.1 crore.  Provision for tax was expense of Rs 38 crore, compared to Rs 42.2 crore.  Effective tax rate was 23.90% compared to 23.80%.

Minority interest was nil in both the periods.  Net profit attributable to owners of the company decreased 10.44% to Rs 121.00 crore.  

Promoters' stake was 49.17% as of 31 December 2024 ,compared to 49.21% as of 30 September 2024 .  

Quarter ended December 2024 compared with Quarter ended December 2023.

Net sales (including other operating income) of Indiamart Intermesh has increased 16.05% to Rs 354.3 crore.  Sales of web abd related services segment has gone up 15.28% to Rs 337.30 crore (accounting for 95.20% of total sales).  Sales of Accounting Software services segment has gone up 33.86% to Rs 17.00 crore (accounting for 4.80% of total sales).  

Profit before interest, tax and other unallocable items (PBIT) has jumped 61.38% to Rs 138.30 crore.  PBIT of web abd related services segment rose 61.76% to Rs 141.70 crore (accounting for 102.46% of total PBIT).  PBIT of Accounting Software services segment fell 78.95% to Rs -3.40 crore (accounting for -2.46% of total PBIT).  

PBIT margin of web abd related services segment rose from 29.94% to 42.01%.  PBIT margin of Accounting Software services segment fell from negative 14.96% to negative 20.00%.  Overall PBIT margin rose from 28.07% to 39.03%.  

Operating profit margin has jumped from 28.07% to 39.03%, leading to 61.38% rise in operating profit to Rs 138.30 crore.  Employee cost decreased from 45.37% to 43.18%.   Other expenses fell from 26.56% to 17.78%.   

Other income rose 7.67% to Rs 44.9 crore.  PBIDT rose 43.80% to Rs 183.2 crore.  Provision for interest fell 18.18% to Rs 1.8 crore.  

PBDT rose 44.89% to Rs 181.4 crore.  Provision for depreciation fell 1.19% to Rs 8.3 crore.  

Profit before tax grew 48.20% to Rs 173.10 crore.  Share of profit/loss was 95.83% lower at Rs -14.1 crore.  Provision for tax was expense of Rs 38 crore, compared to Rs 27.7 crore.  Effective tax rate was 23.90% compared to 25.27%.

Minority interest was nil in both the periods.  Net profit attributable to owners of the company increased 47.74% to Rs 121.00 crore.  

Promoters' stake was 49.17% as of 31 December 2024 ,compared to 49.21% as of 31 December 2023 .  

For year-to-date (YTD) results analysis.

Net sales (including other operating income) of Indiamart Intermesh has increased 17.14% to Rs 1033.3 crore.  Sales of web abd related services segment has gone up 16.83% to Rs 984.80 crore (accounting for 95.31% of total sales).  Sales of Accounting Software services segment has gone up 23.72% to Rs 48.50 crore (accounting for 4.69% of total sales).  

Profit before interest, tax and other unallocable items (PBIT) has jumped 61.48% to Rs 392.40 crore.  PBIT of web abd related services segment rose 64.24% to Rs 401.90 crore (accounting for 102.42% of total PBIT).  PBIT of Accounting Software services segment fell 458.82% to Rs -9.50 crore (accounting for -2.42% of total PBIT).  

PBIT margin of web abd related services segment rose from 29.03% to 40.81%.  PBIT margin of Accounting Software services segment fell from negative 4.34% to negative 19.59%.  Overall PBIT margin rose from 27.55% to 37.98%.  

Operating profit margin has jumped from 27.55% to 37.98%, leading to 61.48% rise in operating profit to Rs 392.40 crore.  Employee cost decreased from 44.80% to 42.93%.   Other expenses fell from 27.65% to 19.09%.   

Other income rose 22.64% to Rs 163.6 crore.  PBIDT rose 47.72% to Rs 556 crore.  Provision for interest fell 14.93% to Rs 5.7 crore.  

PBDT rose 48.85% to Rs 550.3 crore.  Provision for depreciation rose 3.36% to Rs 24.6 crore.  

Profit before tax grew 51.98% to Rs 525.70 crore.  Share of profit/loss was 31.94% lower at Rs -38 crore.  Provision for tax was expense of Rs 117.6 crore, compared to Rs 80.9 crore.  Effective tax rate was 24.11% compared to 25.66%.

Minority interest was nil in both the periods.  Net profit attributable to owners of the company increased 57.89% to Rs 370.10 crore.  

Promoters' stake was 49.17% as of 31 December 2024 ,compared to 49.21% as of 31 December 2023 .  

Full year results analysis.

Net sales (including other operating income) of Indiamart Intermesh has increased 21.45% to Rs 1196.8 crore.  Sales of Web abd related services segment has gone up 21.34% to Rs 1,143.00 crore (accounting for 95.50% of total sales).  Sales of Accounting Software services segment has gone up 23.96% to Rs 53.80 crore (accounting for 4.50% of total sales).  

Profit before interest, tax and other unallocable items (PBIT) has jumped 23.70% to Rs 331.40 crore.  PBIT of Web abd related services segment rose 30.11% to Rs 335.30 crore (accounting for 101.18% of total PBIT).  PBIT of Accounting Software services reported loss of Rs 3.90 crore compared to profit of Rs 10.20 crore.  

PBIT margin of Web abd related services segment rose from 27.36% to 29.34%.  PBIT margin of Accounting Software services segment fell from 23.50% to 7.25%.  Overall PBIT margin rose from 27.19% to 27.69%.  

Operating profit margin has jumped from 27.19% to 27.69%, leading to 23.70% rise in operating profit to Rs 331.40 crore.  Employee cost increased from 43.10% to 45.46%.   Other expenses fell from 29.71% to 26.85%.   

Other income rose 16.68% to Rs 210.6 crore.  PBIDT rose 20.87% to Rs 542 crore.  Provision for interest rose 9.88% to Rs 8.9 crore.  Loan funds declined from Rs 45.90 crore as of 31 March 2023 to Rs 40.60 crore as of 31 March 2024.  Sundry debtors were lower at Rs 4.80 crore as of 31 March 2024 compared to Rs 7.10 crore as of 31 March 2023.  Cash and bank balance rose to Rs 101.20 crore as of 31 March 2024 from Rs 58.30 crore as of 31 March 2023.  Investments declined from Rs 2,783.40 crore as of 31 March 2023 to Rs 2,745.90 crore as of 31 March 2024.  

PBDT rose 21.08% to Rs 533.1 crore.  Provision for depreciation rose 17.36% to Rs 36.5 crore.  Fixed assets declined from Rs 99.00 crore as of 31 March 2023 to Rs 82.20 crore as of 31 March 2024.  Intangible assets stood at Rs 454.30 crore.  

Profit before tax grew 21.36% to Rs 496.60 crore.  Share of profit/loss was 6.60% lower at Rs -40.4 crore.  Provision for tax was expense of Rs 120.4 crore, compared to Rs 87.5 crore.  Effective tax rate was 26.50% compared to 23.57%.

Minority interest was nil in both the periods.  Net profit attributable to owners of the company increased 17.69% to Rs 334.00 crore.  

Equity capital increased from Rs 30.60 crore as of 31 March 2023 to Rs 59.90 crore as of 31 March 2024.  Per share face Value remained same at Rs 10.00.  

Promoters' stake was 49.21% as of 31 March 2024 ,compared to 49.22% as of 31 March 2023 .  

Cash flow from operating activities increased to Rs 559.20 crore for year ended March 2024 from Rs 475.90 crore for year ended March 2023.  Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 14.70 crore, compared to Rs 17.20 crore during the year ended March 2023.  

Management Commentary:

 

Commenting on the performance, Mr. Dinesh Agarwal, Chief Executive Officer, said' his quarter, we saw healthy growth in revenue and operating margins, along with a modest increase in deferred revenue and cash flow. We continue to focus on onboarding quality suppliers, improving matchmaking relevancy, and enhancing the overall user experience on our platform. We are confident in the strength of our business model and our unique position to capitalize on the increasing digital adoption by businesses. On the back of sustained profitability and healthy cash flow, we remain committed to strengthening our value proposition for all stakeholders'

Indiamart Intermesh : Consolidated Results

Quarter ended Year to Date Year ended Particulars 202412 202312 Var.(%) 202412 202312 Var.(%) 202403 202303 Var.(%) Net Sales (including other operating income) 354.30 305.30 16.05 1,033.30 882.10 17.14 1,196.80 985.40 21.45 OPM (%) 39.03 28.07 1,096 bps 37.98 27.55 1,043 bps 27.69 27.19 50 bps OP 138.30 85.70 61.38 392.40 243.00 61.48 331.40 267.90 23.70 Other Inc. 44.90 41.70 7.67 163.60 133.40 22.64 210.60 180.50 16.68 PBIDT 183.20 127.40 43.80 556.00 376.40 47.72 542.00 448.40 20.87 Interest 1.80 2.20 -18.18 5.70 6.70 -14.93 8.90 8.10 9.88 PBDT 181.40 125.20 44.89 550.30 369.70 48.85 533.10 440.30 21.08 Depreciation 8.3 8.4 -1.19 24.6 23.8 3.36 36.5 31.1 17.36 PBT 173.10 116.80 48.20 525.7 345.9 51.98 496.6 409.2 21.36 Share of Profit/(Loss) from Associates -14.1 -7.2 -95.83 -38 -28.8 -31.94 -40.4 -37.9 -6.60 PBT before EO 159 109.6 45.07 487.7 317.1 53.80 456.2 371.3 22.87 EO Income 0 0 - 0 -1.8 - -1.8 0 - PBT after EO 159 109.6 45.07 487.7 315.3 54.68 454.4 371.3 22.38 Taxation 38 27.7 37.18 117.6 80.9 45.36 120.4 87.5 37.60 PAT 121 81.9 47.74 370.1 234.4 57.89 334 283.8 17.69 Minority Interest (MI) 0 0 - 0 0 - 0 0 - Net profit 121 81.9 47.74 370.1 234.4 57.89 334 283.8 17.69 P/(L) from discontinued operations net of tax 0 0 - 0 0 - 0 0 - Net profit after discontinued operations 121 81.9 47.74 370.1 234.4 57.89 334 283.8 17.69 EPS (Rs)* 20.16 13.64 47.74 61.65 39.28 56.97 55.86 47.27 18.17 * EPS is on current equity of Rs 60.03 crore, Face value of Rs 10, Excluding extraordinary items. # EPS is not annualised bps : Basis points EO : Extraordinary items Figures in Rs crore Source: Capitaline Corporate Database

Indiamart Intermesh : Consolidated Segment Results

td>-   Quarter ended Year to Date Year ended % of (Total) 202412 202312 Var.(%) % of (Total) 202412 202312 Var.(%) % of (Total) 202403 202303 Var.(%) Sales web abd related services 95.20 337.30 292.60 15.28 95.31 984.80 842.90 16.83 95.50 1,143.00 942.00 21.34 Accounting Software services 4.80 17.00 12.70 33.86 4.69 48.50 39.20 23.72 4.50 53.80 43.40 23.96 Total Reported Sales 100.00 354.30 305.30 16.05 100.00 1,033.30 882.10 17.14 100.00 1,196.80 985.40 21.45 Less: Inter segment revenues   0.00 0.00 -   0.00 0.00   0.00 0.00 - Net Sales 100.00 354.30 305.30 16.05 100.00 1,033.30 882.10 17.14 100.00 1,196.80 985.40 21.45 PBIT web abd related services 102.46 141.70 87.60 61.76 102.42 401.90 244.70 64.24 101.18 335.30 257.70 30.11 Accounting Software services -2.46 -3.40 -1.90 -78.95 -2.42 -9.50 -1.70 -458.82 -1.18 -3.90 10.20 PL Total PBIT 100.00 138.30 85.70 61.38 100.00 392.40 243.00 61.48 100.00 331.40 267.90 23.70 Less : Interest 1.80 2.20 -18.18 5.70 6.70 -14.93 8.90 8.10 9.88 Add: Other un-allcoable 22.50 26.10 -13.79 101.00 79.00 27.85 131.90 111.50 18.30 PBIT Margin(%) web abd related services   42.01 29.94 1,207.16   40.81 29.03 1,177.96   29.34 27.36 197.84 Accounting Software services   -20.00 -14.96 -503.94   -19.59 -4.34 -1,525.09   -7.25 23.50 -3,075.14 PBT 100.00 159.00 109.60 45.07 100.00 487.70 315.30 54.68 100.00 454.40 371.30 22.38