Indiamart Q4 FY23 Results Key Highlights

  • In Q4 Consolidated Revenue jumped 33% and Net Profit declined by 2%
  • EBITDA Margin 25%

  • In Q4 revenue from accounting software services is Rs.12Cr
  • Other income increased to Rs.31 Cr due to fair value gain on treasury investment
  • Cash and Investment balance as on 31st March 2023 is Rs.2335 Cr
  • Total paying subscriber reached to 2.03 lakhs (20% jump YoY)

  • Annualized Revenue Per Paying Subscriber (ARPU) of Rs. 50600 (7% jump YoY). Increase is mainly due to upgradation of subscription done by existing subscriber

  • Top 1% subscribers ARPU is now almost 9 lacs earlier it was 7.90 lacs. Top 10% subscribers ARPU is now Rs.236000 which was Rs.180000 at around covid times
  • Major price hikes not done in platinum plan and gold
  • Renewals are above 90% of pre-covid level
  • Last year we have added 33000 subscribers annually which was earlier 22000 subscribers annually
  • Margins hits are lower due to higher incentive, increments from Jan and increase in man power.
  • By end of this year we will be back on 30% margins
  • Paying subscriber added in this quarter is 8335 (8k were guided by mgt in last concall so met with the guidance)
  • Busy Infotech Business Update Q4 FY23: Revenue from operation Rs.11.6 Cr, Net Profit Rs.1.4 Cr, Cash generated from operation Rs.6.2 Cr
  • During last year 900 new employees added reached to total number of 4583 employees. Now manpower will be added inline with customer growth and this will help in margin improvement
  • In Investee companies we are looking for cross data selling opportunities
  • Not worried about lower traffic YoY. Quality of traffic is improving which is helping in match-making also reflecting in upsells of gold and platinum plan. Expecting traffic to stabilize as during covid times certain type of traffic has shoot up. If after 1 year also traffic don’t improve then we will need to look into it

  • 8k Subscribers addition every quarter is achievable atleast in this year. Later we need to see based on paying supplier base



IndiaMart Investor Presentation

IndiaMart Concall Recording