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:
This 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.