IndiaMART InterMESH Q3 Review - Higher Resilience In Margin Offers A Positive Outlook: Motilal Oswal
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Motilal Oswal Report
IndiaMART InterMESH Ltd. delivered strong operational performance during Q3 FY21, led by robust increase in paid suppliers (at 7k v/s their target range of ~5,000).
Collections were up 9% sequentially but flat on a YoY basis.
Margin showed great resilience, with the company reporting the highest ever Ebitda margin of 48.4% (v/s our estimate of 39.8%) on lower variable pay and stable employee count.
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