Q1 2025 Indiamart Intermesh Ltd Earnings Call Transcript
Key Points
- IndiaMART InterMESH Ltd (BOM:542726) reported a consolidated collection from customers of INR366 crores in Q1 FY2025, representing a year-on-year growth of 14%.
- Deferred revenue grew by 23% to INR1,474 crore on a consolidated basis.
- Consolidated revenue from operations increased by 17% to INR331 crore.
- Unique business inquiries grew to 25 million, representing a year-on-year growth of 15%.
- The company has onboarded Mr. Jitin Diwan as the new Chief Financial Officer, indicating a strengthening of the management team.
- The company continues to see higher-than-anticipated churn in the silver customer base.
- New supplier acquisitions were slightly lower this quarter compared to previous quarters, resulting in only 1,500 new paying suppliers added on a net basis.
- The churn in the silver monthly and silver annual buckets remains stubborn, affecting overall customer retention.
- The company is facing challenges in controlling churn in major cities like Delhi and Mumbai.
- Despite the growth in revenue and collections, the company is cautious about committing to specific net addition targets for paying subscribers due to ongoing churn issues.
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 Q1 FY2025 earnings webinar. (Event Instructions)
Joining us today from the management side, we have Mr. Dinesh Agarwal, Chief Executive Officer; Mr. Brijesh Agrawal, Whole-Time Director; Mr. Jitin Diwan, Chief Financial Officer; and Mr. Prateek Chandra, Chief Strategy 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.
Thank you, Avijit. Good evening, everyone, and welcome to
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