Shares of Indiamart Intermesh saw a positive rally today and closed over 2% higher on NSE as the company announced its Q4 results with 33% revenue growth and 1:1 bonus shares as well as for 200 Record date announced. % Dividend.
“The Board of Directors of the Company at its meeting held on Friday, April 28, 2023, recommended a final dividend of Rs. 20/- per equity share of face value of Rs. 10/- each (i.e. 200% of the face value) for the financial year 2022-23, subject to the approval of the shareholders in the ensuing Annual General Meeting. The dividend will be paid within 30 days from the date of declaration of final dividend if approved by the shareholders of the company. In accordance with Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board has appointed Thursday, the 11th May, 2023 as the Record Date for the purpose of determining the names of the Members eligible for payment of the above Final Dividend for the financial year 2023. as prescribed. 2022-23 whose names appear in the register of members maintained by the Registrar of Companies and list of transfer agents/beneficial owners as received from the National Securities Depository Limited and the Central Depository Services (India) Limited,” Indiamart Intermesh said filing in a stock exchange.
“The Board of Directors of the Company at its meeting held on Friday, April 28, 2023, recommended the issue of Bonus Shares to the Equity Shareholders of the Company in the ratio of 1 (one) Equity Share of Rs. 10/- (Rupees Ten) for each fully paid-up existing Equity Share of Rs.1 (one) each. 10/- (Rupees Ten) each fully paid up as on the record date subject to the approval of the shareholders at the ensuing Annual General Meeting. In accordance with Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board fixed Monday, the 12th June, 2023 as the record date for the purpose of determining the list of equity shareholders of the Company whose names appear in the register Let’s give The number of members maintained by the Registrar of Companies and the list of transfer agents/beneficial owners of the company obtained from the National Securities Depository Limited and the Central Depository Services (India) Limited, who shall be entitled to issue and allot Bonus Equity Shares in the ratio of 1 (one ) Equity Shares of Rs. 10/- (Rupees Ten) for each fully paid-up existing Equity Share of Rs.1 (one) each. 10/- (Rupees Ten) each of the company was fully paid, IndiaMart Intermesh said in a separate exchange filing.
Company’s revenue from operations on a consolidated basis 269 Cr during Q4FY23, up 33% YoY 201 Cr during Q4FY22, and during FY23, the revenue from operations stood at 31% more than 985 crores 753 Cr reported in FY22. IndiaMart Intermesh said the growth in sales was primarily driven by a 20% increase in the number of paid subscription suppliers and the addition of Rs. 12 crore revenue from accounting software services.
During the quarter ended March 2023, the consolidated EBITDA was Rs. 66 Cr for Q4 FY23 up 15% over Rs. 57 Cr in the year-ago quarter, representing an EBITDA margin of 25%. Other income increased to Rs. 31 cr, up 4% YoY from 30 crore during Q4FY22.
During Q4FY23, the company said its net profit fell 56 cr, down 3% from 57 Cr in Q4FY22 and its PAT reached in FY23 284 Cr, down 5% from 298 crores in FY22.
According to the corporation, its total cash flow from operations for the quarter was Rs. 209 crores, and as on March 31, 2023, the balance of cash and investments is Rs. 2,335 crores. In the fourth quarter of FY23, IndiaMART recorded 252 million traffic and 22 million unique business inquiries. There were 7.5 million supplier storefronts during the quarter, an annual increase of 6%, and 202,690 paying subscription providers, a net increase of 8,335 customers. At the end of the quarter, there were 4,583 total employees, an increase of 170.
Commenting on the performance, Mr. Dinesh Agarwal, Chief Executive Officer, said, “We are happy to end the financial year with a steady growth in customers, revenue and cash flow while maintaining healthy margins in the business. We look forward to further strengthening Will continue to invest in our products, technology and building strong customer relationships. It remains integral to our long-term strategy to leverage our value proposition to drive profitable growth and create value for all of our stakeholders.”
Indiamart Intermesh shares closed today on NSE 5,363.05 each level, up 2.18% from the previous close 5,248.50.
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