Motilal Oswal: IndiaMart Stages Strong Recovery In Q2; Positive Outlook  
A man browsing IndiaMart website. (Source: BloombergQuint) 

Motilal Oswal: IndiaMart Stages Strong Recovery In Q2; Positive Outlook  

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Motilal Oswal Report

IndiaMART InterMesh Ltd. posted a strong operational performance in Q2, primarily led by a quicker-than-anticipated rebound in paid suppliers.

Collections were up 73% sequentially, reaching 94% of pre-Covid-19 levels.

The company also showed great resilience in margins, curtailing its operating cost to Rs 815 million, versus an average quarterly run-rate of approximately Rs 1.2 billion.

This led to Ebit margins of 47%, versus 23% in FY20.

While we concur that margins are not sustainable at current levels, overall the company would see benefit from cost optimization and operating leverage.

Click on the attachment to read the full report:

Motilal Oswal IndiaMart Q2FY21 Result Update.pdf

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