Indiamart Earning summary & Concall notes
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Operational revenue up by 26% YoY, supported by 16% growth in paying subscribers and 8% growth in Average revenue per user (ARPU). ARPU increase partly due to increase of subscription price from 2500 to 3000 for silver bucket, removing the discount given during Covid phase.
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14% growth in product listing and 6% growth in supplier storefronts YoY. Unique Buiseness Enquiries flattish and 1% degrowth in traffic. Paying subscribers added for this quarter is only 4993, affected due to ARPU increase – will get corrected in 2-3 months. Need to monitor this for following quaters.
Early warnings for growth tapering off? -
Target to reach 30% EBITDA margin by end of the year, Pre Covid was 28%.
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Buyback announced – tender route, 500cr with 4000 Rs/share.
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Busy revenue is also up 26%, with healthy growth in deferred revenue and Cash generation. Profit growth is negative as expected due to investments for growth. Looks like buiseness is able to scale profitably as guided by the management.
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