IndiaMart InterMesh Q1 Review - Competitive Intensity Is A Key Monitorable: ICICI Securities

"BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .ICICI Securities Report.Sequentially, IndiaMart InterMesh Ltd.'s paying subscribers declined ~4% impacted by Covid-19 second wave. Increase in buyer traffic and business enquiries (4%-8%) was led by categories like oxygen concentrators, etc. Deferred revenues witnessed a marginal dip. Ebitda margin improved slightly to ~49% led by further reduction in manpower cost (down 5% q-o-q). IndiaMart's management reiterated that sustainable Ebitda margins over the medium term will be ~40%. The prognosis of capital infusion by Reliance Industries Ltd. (~Rs 22 billion) into Just Dial Ltd. is a key thing to watch out for. This may help Just Dial to become more aggressive in scaling up its B2B business. .Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint. .Users have no license to copy, modify, or distribute the content without permission of the Original Owner. "

IndiaMart InterMesh Q1 Review - Competitive Intensity Is A Key Monitorable: ICICI Securities