IndiaMart Q1 Review - Mixed Result; Near Term Margin Guidance Key To Watch Out: ICICI Securities

"BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.IndiaMart InterMesh Ltd.'s strong revenue growth trajectory was maintained in Q1 FY24 with ~26% YoY revenue growth. However, new subscriber addition was significantly lower than expectations (4,993 versus our estimate of 8,000). Our channel checks indicate more than 10% price increases were taken in base packages (price sensitive) mid-Q1 FY24. We believe lower subscriber additions was due to customer pushback to pricing action. Ebitda margin was higher than estimated (27.4% versus our estimate 26.3%), as employee expense remained flattish QoQ. BUSY revenue grew 15.4% QoQ in Q1 FY24, which we believe indicates improving traction for its accounting software service offerings. In addition, the company has announced a buyback of 2.04% equity at Rs 4,000 per share. We look forward to more clarity on near term subscriber addition and operating margin outlook in its conference call today at 4 pm..Buyback details The proposal for buyback of 12,50,000 equity shares fully paid up having a face value of Rs 10/- each was approved by the Board at the price of Rs 4,000 per share. The size of the buyback is Rs 5 billion..Click on the attachment to read the full report:.HUL Q1 Result Review - Performance Below Estimate; Downgrade To 'Reduce': Dolat Capital.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner."

IndiaMart Q1 Review - Mixed Result; Near Term Margin Guidance Key To Watch Out: ICICI Securities

The company has announced a buyback of 2.04% equity at Rs 4,000 per share.

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IndiaMart Q1 Review - Mixed Result; Near Term Margin Guidance Key To Watch Out: ICICI Securities

The company has announced a buyback of 2.04% equity at Rs 4,000 per share.

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