The brokerage said that even as the company reported in-line Q2 results, subscriber growth remains weak, leading to a moderation in collections growth to just 5% year-on-year, a key negative from the quarter. The broker forecasts collections growth to range between 10-15% unless subscriber additions improve. The firm has also cut its estimates by 4-12%, citing a continued rise in subscriber churn despite multiple management interventions, which has been a negative surprise. Meanwhile, another foreign broker maintained a 'neutral' stance with a target price of Rs 3,150, pointing to weak collections and low subscriber additions as major factors dampening near-term prospects. The brokerage highlighted that, unlike previous trends, weak collection per customer growth is now coinciding with consistently low subscriber additions, averaging around 2,000 per quarter over the last five periods. On a standalone basis, IndiaMART InterMESH's revenue from operations increased to Rs 332 crore as compared to Rs 281 crore last year, representing a YoY growth of 18%. The growth was primarily driven by around 14% improvement in realization from paying suppliers and the remaining by increase in number of paying suppliers. Collections from customer grew to Rs 337 crore for the quarter (+5% YoY) and deferred revenue as on 30 September 2024 increased to Rs 1,426 crore (+18% YoY). EBITDA for the quarter was at Rs 120 crore (+48% YoY), representing margin of 36% (vs. 29% last year). Net profit for the quarter was at Rs 127 crore (+53% YoY), representing margin of 32% (vs. 26% last year). IndiaMART registered Unique business enquiries of 28 million in Q2FY25, representing a YoY growth of 14%. Supplier Storefronts grew to 8 million, an increase of 5% YoY and paying suppliers grew to 218K representing net addition of 2.4K subscribers during the quarter. Commenting on the performance, Dinesh Agarwal, chief executive officer, said: We have closed the second quarter with healthy growth in revenue and operating margins along with modest growth in deferred revenue and cash flows. We stay committed to the vision of 'Make Doing Business Easy' and enable businesses to grow online. We continue to focus on improving the experience of buyers as well as suppliers and strengthen our value proposition further. On the back of healthy cash flows and increasing internet adoption by businesses, we stay confident of the sustained profitable growth for the times to come. IndiaMART is India's largest online B2B marketplace for business products and services. IndiaMART makes it easier to do business by connecting buyers and sellers across product categories and geographies in India through business enablement solutions. IndiaMART provides ease and convenience to the buyers by offering a wide assortment of products and a responsive seller base while offering lead generation, lead management and payment solutions to its sellers. Powered by Capital Market - Live

Net profit of Indiamart Intermesh rose 94.67% to Rs 135.10 crore in the quarter ended September 2024 as against Rs 69.40 crore during the previous quarter ended September 2023. Sales rose 17.98% to Rs 347.70 crore in the quarter ended September 2024 as against Rs 294.70 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales347.70294.70 18 OPM %35.0623.41 - PBDT185.50101.30 83 PBT177.3093.30 90 NP135.1069.40 95 Powered by Capital Market - Live

IndiaMART InterMESH will hold a meeting of the Board of Directors of the Company on 19 October 2024.Powered by Capital Market - Live

Lloyds Engineering Works Ltd, Aegis Logistics Ltd, Fine Organic Industries Ltd and Birlasoft Ltd are among the other losers in the BSE's 'A' group today, 31 July 2024.Indiamart Intermesh Ltd tumbled 6.21% to Rs 2951 at 14:46 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 44451 shares were traded on the counter so far as against the average daily volumes of 12846 shares in the past one month.Lloyds Engineering Works Ltd crashed 5.23% to Rs 86.98. The stock was the second biggest loser in 'A' group.On the BSE, 13.22 lakh shares were traded on the counter so far as against the average daily volumes of 15.72 lakh shares in the past one month.Aegis Logistics Ltd lost 5.15% to Rs 835.25. The stock was the third biggest loser in 'A' group.On the BSE, 14700 shares were traded on the counter so far as against the average daily volumes of 68260 shares in the past one month.Fine Organic Industries Ltd fell 5.11% to Rs 5575. The stock was the fourth biggest loser in 'A' group.On the BSE, 14532 shares were traded on the counter so far as against the average daily volumes of 6448 shares in the past one month.Birlasoft Ltd shed 4.63% to Rs 676.95. The stock was the fifth biggest loser in 'A' group.On the BSE, 3.35 lakh shares were traded on the counter so far as against the average daily volumes of 1.51 lakh shares in the past one month.Powered by Capital Market - Live

The headline equity indices traded with decent gains in mid-afternoon trade. The Nifty traded above the 24,950 mark. PSU bank shares extended losses for the second consecutive trading session. At 14:30 IST, the barometer index, the S&P BSE Sensex, was up 290.51 points or 0.38% to 81,756.60. The Nifty 50 index added 94.25 points or 0.38% to 24,951.55. In the broader market, the S&P BSE Mid-Cap index gained 0.83% and the S&P BSE Small-Cap index rose 0.10%. The S&P BSE Mid-Cap and S&P BSE Small-Cap index hit an all-time high at 48,680.74 and 55,685.07, respectively. The market breadth was strong. On the BSE, 2,104 shares rose and 1,799 shares fell. A total of 102 shares were unchanged. Buzzing Index: The Nifty PSU Bank index fell 0.86% to 7,364.45. The index shed 0.94% in two consecutive trading sessions. Punjab & Sind Bank (down 2.02%), Indian Overseas Bank (down 1.93%), Bank of Baroda (down 1.58%), UCO Bank (down 1.55%), Punjab National Bank (down 1.35%), Canara Bank (down 1.04%), Bank of Maharashtra (down 0.96%), Central Bank of India (down 0.86%), State Bank of India (down 0.52%) and Union Bank of India (down 0.28%) declined. Numbers to Track: The yield on India's 10-year benchmark federal grew 1.77% to 7.054 as compared with previous close 7.050. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.7400, compared with its close of 83.7300 during the previous trading session. MCX Gold futures for 5 August 2024 settlement rose 0.63% to Rs 69,040. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.25% to 104.29. The United States 10-year bond yield fell 0.07% to 4.138. In the commodities market, Brent crude for September 2024 settlement gained $1.67 or 2.14% to $79.74 a barrel. Stocks in Spotlight: IndiaMART InterMESH dropped 6.21%. The company reported 37% rise in consolidated net profit to Rs 114 crore on a 17% increase in operating revenue to Rs 331 crore in Q1 FY25 as compared with Q1 FY24. The revenue includes IndiaMART standalone revenue of Rs 315 crore and Busy Infotech revenue of Rs 15 crore, registering a growth of 18% and 15%, respectively, on YoY basis. Dixon Technologies (India) rose 1.18% after the company reported 107.91% surge in consolidated net profit to Rs 139.70 crore in Q1 FY25 from Rs 67.19 crore posted in Q1 FY24. Revenue from operations zoomed 101.12% year on year (YoY) to Rs 6,579.80 crore in the quarter ended 30 June 2024. Powered by Capital Market - Live

The revenue includes IndiaMART standalone revenue of Rs 315 crore and Busy Infotech revenue of Rs 15 crore, registering a growth of 18% and 15%, respectively, on YoY basis. Collections from Customer grew by 14% to Rs. 366 crore for the quarter. Deferred Revenue as on June 30, 2024 increased to Rs 1,474 crore representing a YoY growth of 23%. EBITDA improved by 55% YoY to Rs 120 crore in the first quarter. EBITDA Margin for Q1 FY25 was 36% as against 27% in Q1 FY24. Profit before tax in Q1 FY25 stood at Rs 151.40 crore, up by 34.7% from Rs 112.40 crore posted in Q1 FY24. On a standalone basis, IndiaMART has reported a PAT of Rs 124 crore (up 30% YoY and a revenue of Rs 315 crore (up 18% YoY). The company's paying supplied base stood at 216 thousand at the end of Q1 FY25 as against 214 thousand at the end of Q4 FY24 and 208 thousand at the end of Q1 FY24. In June'24 quarter, the company added 1,519 paying suppliers. It had 2,683 paying suppliers in Q4 FY24 and 2,683 paying suppliers in Q1 FY24. During Q1 FY25, IndiaMART experienced a decline in traffic, which fell to 267 million from 269 million recorded at the end of the March'24 quarter. Traffic for Q1 FY24 was 254 million. IndiaMART registered Unique business enquiries of 25 million in Q1 FY25, representing a YoY growth of 15%. Supplier Storefronts grew to 8 million, an increase of 5% YoY during the quarter. Further during the quarter, IndiaMART has got into agreement to acquire 10% stake in Baldor Technologies (IDfy), which is an integrated identity platform offering products and solutions for KYC, background verifications, risk mitigation, digital onboarding and digital privacy. Dinesh Agarwal, chief executive officer, said: 'We are happy to start the financial year on a positive note with a steady growth in revenue and deferred revenue, along with expansion in the operating margins. On the back of strong balance sheet and sustained cash flows, we will continue to make investments to further strengthen our value proposition, improving customer experience and leveraging growth opportunities. We are confident of the sustained long term profitable growth as more and more businesses adopt internet to grow themselves.' IndiaMART is India's largest online B2B marketplace for business products and services. IndiaMART makes it easier to do business by connecting buyers and sellers across product categories and geographies in India through business enablement solutions. IndiaMART provides ease and convenience to the buyers by offering a wide assortment of products and a responsive seller base while offering lead generation, lead management and payment solutions to its sellers. The scrip tumbled 6.01% to currently trade at Rs 2957.35 on the BSE. Powered by Capital Market - Live