Indiamart Intermesh Ltd Share Price – NSE /  BSE

E-Commerce/App based Aggregator, Small Cap

The domestic equity benchmarks traded with substantial gains in the morning trade. The Nifty traded above the 23,100 level. Realty shares extended losses for the second consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex rose 363.90 points or 0.48% to 76,202.26. The Nifty 50 index added 79.70 points or 0.35% to 23,104.35.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index dropped 1.21% and the S&P BSE Small-Cap index fell 1.29%.

The market breadth was weak. On the BSE, 1,042 shares rose and 2,477 shares fell. A total of 164 shares were unchanged.

Result Today:

HDFC Bank (up 0.23%), Hindustan Unilever (up 0.02%), Bharat Petroleum Corporation (down 0.61%), Coforge (up 0.99%), Elecon Engineering (down 2.02%), Go Digit General Insurance (down 2.95%), Gravita India (down 1.71%), Heritage Foods (down 0.31%), HUDCO (down 3.23%), Laxmi Organic Industries (down 0.39%), Nuvoco Vistas Corporation (down 0.68%), Persistent Systems (down 5.40%), Pidilite Industries (down 0.21%), Polycab India (down 1.68%), Tata Communications (down 1.42%), Ujaas Energy (down 4.99%) and Zensar Technologies (down 0.55%) will declare their quarterly earnings on 22 January 2025.

Buzzing Index:

The Nifty Realty index dropped 2.66% to 882.25. The index tumbled 7.17% in two consecutive trading sessions.

Oberoi Realty (down 5.55%), Prestige Estates Projects (down 4.71%), Macrotech Developers (down 3.79%), Godrej Properties (down 3.26%), Raymond (down 2.97%), Phoenix Mills (down 2.02%), DLF (down 1.79%), Sobha (down 1.75%), Brigade Enterprises (down 1.49%) and Mahindra Lifespace Developers (down 1.17%) declined.

Stocks in Spotlight:

IndiaMART InterMESH slumped 7.12%. The company has reported 48% rise in net profit to Rs 121 crore on a 16% increase in revenue from operations to Rs 354 crore in Q3 FY25 as compared with Q3 FY24.

RaiTel Corporation of India declined 2.90%. The company said that it has received order from Dy.Cste Construction Ajmer Division, North Western Railway for signaling work.

Dalmia Bharat rose 0.53%. The company’s consolidated net profit tumbled 75.2% to Rs 66 crore as compared with Rs 266 crore Revenue fell 11.7% YoY to Rs 3,181 crore during the quarter.

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The revenue includes IndiaMART standalone revenue of Rs 337 crore and Busy Infotech revenue of Rs 16 crore, registering a growth of 16% and 30%, respectively, on YoY basis.

Collections from Customer grew by 10% to Rs 363 Crore for the quarter, primarily comprising of standalone collections of Rs 341 crore and Busy Infotech collections of Rs 20 crore.

Profit before tax in Q3 FY25 stood at Rs 161 crore, up by 35% from Rs 119 crore in Q3 FY24.

Deferred revenue as on 31 December 2024 increased to Rs 1,492 crore, representing a YoY growth of 17% but remained flat as compared with Q2 FY24. This primarily includes IndiaMART standalone deferred revenue of Rs 1,430 crore and Busy Infotech deferred revenue of Rs 57 crore.

IndiaMART registered unique business enquiries of 27 million in Q3 FY25, representing a YoY growth of 17%. Supplier storefronts grew to 8.2 million, an increase of 5% YoY, and paying suppliers as at the end of the quarter were 214K, up 1% YoY but down 2% on a sequential basis.

Cash flow from operations for the quarter was Rs 114 crore. Cash and investments balance stood at Rs 2,606 crore as on 31 December 2024.

Dinesh Agarwal, chief executive officer, said: “This quarter, we saw healthy growth in revenue and operating margins, along with a modest increase in deferred revenue and cash flow.

We continue to focus on onboarding quality suppliers, improving matchmaking relevancy, and enhancing the overall user experience on our platform.”

A foreign brokerage has reportedly downgraded Indiamart Intermesh to 'neutral'. The brokerage reportedly stated that the decision to downgrade the stock follows an unexpected decline in the company's paying subscriber base and weak gross customer additions. Additionally, high customer churn raises concerns about future growth. The brokerage reportedly anticipates that collections could remain weak in the near to medium term.

IndiaMART is India's largest online B2B marketplace for business products and services. The company connects buyers and sellers across product categories and geographies in India through business enablement solutions.

The scrip slumped 7.19% to currently trade at Rs 2128.60 on the BSE.

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Net profit of Indiamart Intermesh rose 47.74% to Rs 121.00 crore in the quarter ended December 2024 as against Rs 81.90 crore during the previous quarter ended December 2023. Sales rose 16.05% to Rs 354.30 crore in the quarter ended December 2024 as against Rs 305.30 crore during the previous quarter ended December 2023.

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IndiaMART InterMESH will hold a meeting of the Board of Directors of the Company on 21 January 2025.

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