Indiamart Intermesh: A great business, but are all the virtues in the price?
M&A action for Indiamart likely in the near term with capital raising in the offing
January 20, 2021 / 09:13 AM IST
IndiaMART InterMESH | The company reported higher profit at Rs 80.2 crore in Q3FY21 against Rs 62 crore in Q3FY20, revenue jumped to Rs 173.6 crore from Rs 164.9 crore YoY.
PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook
IndiaMart Intermesh (Indiamart; CMP: Rs 7,410; Market capitalization: Rs 21,579 crore) is India’s largest online B2B marketplace for products and services. The December quarter results were above expectations as the number of paying subscribers increased by nearly 7,000 as compared to the September 2020 quarter. The board of Indiamart has approved the raising of funds through issuance of equity shares or other securities amounting to Rs 1,100 crore. The Return on Equity, which is close to 54 percent, is...