Q2 2026 Indiamart Intermesh Ltd Earnings Call Transcript
Key Points
- IndiaMART InterMESH Ltd (BOM:542726) reported a consolidated revenue from operations of 391 crore for Q2 FY26, marking a year-on-year growth of 12%.
- Collections from customers increased to 406 crore, representing a year-on-year growth of 14%.
- Deferred revenue grew by 18% year-on-year, reaching 1,750 crore.
- The company added 2,800 net paying suppliers in the quarter, excluding a one-time benefit of 1,200 due to onboarding process simplification.
- IndiaMART is implementing AI use cases to enhance platform and product offerings, aiming to improve user experience and customer service.
- The company experienced a decline in other income from 92 crore in the previous quarter to 10 crore, primarily due to mark-to-market losses on its treasury portfolio.
- Despite efforts to improve supplier engagement, churn rates for silver customers remain elevated, with monthly churn at 7% and annual churn at 4%.
- Traffic growth on the platform was only 3% this quarter, down from 7% in the previous quarter, raising concerns about user engagement.
- The company faces challenges in differentiating between human and bot traffic, complicating the assessment of genuine user engagement.
- There is uncertainty regarding the sustainable growth of net paying suppliers, particularly in the silver segment, which could impact long-term revenue growth.
Good evening, ladies and gentlemen. I am Abhijit Vikram, head of investor relations.
On behalf of India Mart Internation Limited, I welcome you all to the company's quarter to FY26 earnings webinar.
As a reminder, all participant clients will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes.
Joining us today from the management side. We have Mr. Dinesh Agrawal, Chief Executive Officer, Mr. Vijay Agarwal, full-time director, Mr. Jin Devan, Chief Financial Officer, and Mr. Prade Chandra, Chief Strategy Officer.
Before we begin, I would like to remind you that some of the statements made in today's conference call may be forward-looking in nature and may involve risk 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 Sharawal for his opening remarks.
Thank you and over to you, sir.
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