Indiamart Intermesh Limited

Anmol Garg

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Anmol Garg

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Anmol Garg

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Nikhil Choudhary

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Nikhil Choudhary

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Avijit Vikram

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Swapnil Potdukhe

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Prateek Chandra

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Pranaya Jain

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Pranaya Jain

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Last quarter, also, there was a decline, and I think management gave a commentary that due to low working days, and more holidays, there were less spent and that led to decline last quarter.

— Nikhil Choudhary

So this is going to be a little bit of a challenge in the medium term.

— Nikhil Choudhary

So that is why registered users is also becoming difficult.

— Dinesh Chandra Agarwal

But this time around, there has been a decent decline.

— Swapnil Potdukhe

Maybe some kind of a financial way or maybe some kind of incentivisation, buyer incentivisation and that has been difficult in any classified business or any intermediary business.

— Shreya Chatterjee

But given that we are a horizontal across thousands and thousands of categories, it is difficult to scale and manage it.

— Shreya Chatterjee

Even if we are able to manage a few category experts, as soon as you expand it to couple of dozen category managers, it becomes difficult to manage.

— Shreya Chatterjee

Q

Participants are requested to raise hand if they wanted to ask question to management. Next question is from the line of Anmol Garg from DAM Capital. Please unmute yourself and go ahead with your question. Thanks for the opportunity. A couple of things that I wanted to understand. Firstly, have you thought about any value-added services that we want to provide through our platform for which we can charge higher prices and in turn could increase ARPU through that aspect? Dinesh Chandra Agarwal: So, while we don't necessarily report value-add services as part of the financials or otherwise, when

Anmol Garg

Dinesh Chandra Agarwal: So in total, 1.6 crore GST registered businesses. Typically, about 5% churn in GST registered businesses at the GST registration, cancellation, suspension that you would see. You can verify this data from the seven years of GST and six years of GST kind of a publication that happens on the official GST website. They also publish data by way of turnover Approximately 50% of them are at a lower turnover, less than Rs. 40 lakhs turnover, and rest of them are higher. About 85% of them are proprietorship, rest of them are company and partnership in equal numbers. Out of them

Q

Thanks for the opportunity. My first question is on unique business enquiries. This quarter, it declined 1%. Last quarter, also, there was a decline, and I think management gave a commentary that due to low working days, and more holidays, there were less spent and that led to decline last quarter. But more important point is, that last two quarter, it's been 27 - 28 million. And even last year, for most of the quarter in FY25 out of 3, out of 4 quarter, it was 27 - 28 million. So despite of us investing so much on performance marketing, why this number is not inching up? Dinesh Chandra Agarwa

Nikhil Choudhary

Got it. But, again, like you highlighted, just 1% drop in conversion. Even then, it means the overall increase is very limited. That was the point. And second, if possible, you can quantify the mix, how many of these queries you have acquired to performance marketing, if possible, and rest of which are organic? I don't think I would be able to give you that number because performance marketing is very new, and we continue to do a lot of experiment because which categories we want to put more budget, which categories we want to put less budget, so we continue to do a lot of experimentation on t

Q

I have just one question. This is pertaining to your employee expenses. Typically, 4Q is the quarter where employee expenses go up meaningfully on a quarter-to-quarter basis. But this time around, there has been a decent decline. Any particular reason for that? And a related question to that is with the number of employees, I think there has been some rationalisation on the employees also.

Jitin Diwan

The second question was like the number of employees that you have reported, 6,200 something. It was 6,300 in the previous quarter. Is this some kind of a rationalisation exercise? And is it linked to the employee expenses going down also in a way? Any particular reason for that? And what are the thought process on the number of employees going up or going ahead? Let me answer the first question. So if you remember, last quarter, there was a labour code impact, which we had taken. It was about Rs. 8.5 crores if I remember, which we had taken last quarter, and that's how it is looking like the

Q

Thank you for taking my question. I'd like to understand what other metrics that you provide in your presentation, do you actually track to understand that the RFPs that are provided out by the buyer is actually closed by the sellers? So are there any close metrics that you track that, okay, it will be closed with 80% or 90% fulfilment rate? So anything on that? Dinesh Chandra Agarwal: So there is no definite metric that we have because, we are mostly advertising and referral platform. We are not a transaction and fulfilment platform. So we are intermediary rather than being a marketplace. Now

Shreya Chatterjee

Dinesh Chandra Agarwal: So earlier we were looking at the payment as one mode towards that. Now we try to do it, in a manner where we can fulfil across the categories because if we apply anything which is category specific fulfilment, that would be too restricted. I think we continue to love to be a horizontal platform where items from apparel to machinery to raw material. I mean, if you go to one of those slides which says end-to-end fulfilment. So we continue to find levers so that we can actually do transaction by transaction tracking, but we haven't found much success on that side. Maybe s

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Management