Q4 2024 Indiamart Intermesh Ltd Earnings Call Transcript
Key Points
- IndiaMART InterMESH Ltd (BOM:542726) reported a consolidated collection from customers of INR484 crores in Q4 and INR1,474 crores for the full year, representing a year-on-year growth of 16% and 21%, respectively.
- Deferred revenue grew by 24% to INR1,440 crores on a consolidated basis.
- Total paying suppliers increased to 214,000, with a net addition of 2,700 suppliers in Q4, an improvement from 1,800 suppliers in the previous quarter.
- Busy Infotech, a subsidiary, reported a net billing growth of 29% in Q4 and 45% for the full year, with positive cash flows from operations of INR6.1 crores during the quarter and INR24 crores for the full year.
- The Board of Directors recommended a final dividend of INR20 per equity share for FY 2024, subject to shareholder approval at the AGM.
- The churn rate for first-year Silver customers remains high, with monthly churn at 7-8% and annual churn at approximately 40%, impacting overall customer retention.
- Standalone collections growth has slowed to 16% year-on-year, below the company's aspiration of 20%-30% CAGR, primarily due to higher churn rates.
- Despite efforts, the net customer addition has been low for the past four quarters, affecting the growth trajectory.
- The company faces challenges in converting Silver customers to higher-value packages, impacting ARPU growth.
- There was a one-time impairment charge of INR3.5 crores on right of use of land, affecting the quarterly financials.
Good evening, ladies and gentlemen. I am Avijit Vikram, Head of Investor Relations. On behalf of IndiaMART InterMESH Limited, I welcome you all to the company's quarter four and FY 2024 Earnings Webinar. (Operator Instructions)
Joining us today from the management team, we have Mr. Dinesh Agarwal, Chief Executive Officer; Mr. Brijesh Agrawal, Whole-Time Director; and Mr. Prateek Chandra, Chief Financial Officer. Before we begin, I would like to remind you that some of the statements made in today's call may be forward-looking in nature and may involve risks and uncertainties.
Kindly refer to slide number 3 of the earnings presentation for the detailed disclaimer.
Now I would like to hand over the call to Mr. Dinesh Agarwal for his opening remarks. Thank you, and over to you, sir.
Good evening, everyone, and welcome to IndiaMART's FY24 earnings webinar. We have circulated our earnings presentation,
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