IndiaMart Q4 Review - Strong Collections; Operations In Line: Motilal Oswal
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IndiaMart Q4 Review - Strong Collections; Operations In Line: Motilal Oswal

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.

Motilal Oswal Report

IndiaMART Intermesh Ltd. delivered in line revenue performance in Q4 FY21.

While paid suppliers remain modest (at 4,000 versus their target of approximately 5,000), collections jumped 53% QoQ (partially led by seasonality) and 34% YoY.

Margin remained resilient, with Ebit margin at 45.6% (versus our estimate of 44%).

Expected sequential moderation in margin was cushioned by yet another quarter of headcount rationalization.

Channel sales partners are acting as a partial substitute for those involved in acquiring new accounts.

Click on the attachment to read the full report:

Motilal Oswal IndiaMart Q4FY21 Result Review.pdf

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