Unicommerce Esolutions' Managing Director Kapil Makhija is confident that the company will sustain a compounded annual growth rate of more than 25% in the next three years.
He told NDTV Profit that the e-commerce industry, which has been experiencing a sluggish period since the second quarter of last fiscal, is sitting at the brink of a bounce-back.
Makhija, who is also the company's chief executive officer, remained confident of a possible turnaround for the businesses backed by increased demand in the festive season.
As a result, he believes that e-commerce enabling services providers like Unicommerce Esolutions will see a sustainable growth rate above the industry figures.
“We strongly believe that the medium to long-term growth for e-commerce is intact. Whenever recovery happens, from a long-term perspective, we believe the e-commerce market will continue to grow at a 20–25% CAGR. We, as a business, have always delivered market plus plus growth rate and will continue doing that," Makhija told NDTV Profit.
The company has already started noticing strong growth trends with the beginning of the festive season, he added.
"We have recently published our trends for the first four days of the festive season. We are seeing some strong growth coming back, but it is early days because it has been just 10 days of the sale so far," the top executive noted.
Unicommerce Esolutions is a leading e-commerce SaaS solution provider for e-commerce players. The company offers end-to-end transaction processing services for brands, sellers, and logistics providers.
The company caters to over 3,600 clients, including new-age brands like MamaEarth and Boat, along with established traditional players like FabIndia and TCNS.
Shares of Unicommerce Esolutions closed 5.4% higher on the NSE at Rs 206.81 apiece on the NSE on Tuesday, while the benchmark Nifty 50 closed at 25,013.15, up 0.88%.
The newly listed stock has declined 12% from its listing price of Rs 235 apiece. Unicommerce Esolutions made a stellar market debut on Aug. 13, as its shares listed at a premium of 117.6% on the NSE against the issue price of Rs 108 apiece.
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