• The document is a transcript of the Q1 FY2027 Earnings Webinar (Earnings Conference Call) held on Tuesday, July 21, 2026, at 17:00 hrs.
  • The stated purpose of the event was to discuss the financial results and developments of the Company for the quarter ended June 30, 2026 (Q1 FY27).
  • The event was held after the earnings announcement, as the presentation was referenced as being already circulated.

Management Participants:

  • Mr. Dinesh Chandra Agarwal - Chief Executive Officer
  • Mr. Brijesh Kumar Agrawal - Whole-Time Director
  • Mr. Jitin Diwan - Chief Financial Officer
  • Mr. Prateek Chandra - Chief Strategy Officer
  • Mr. Avijit Vikram - Head Investor Relations
  • The earnings presentation was made available on the company's website (https://investor.indiamart.com/FinancialResultsStatements.aspx) and stock exchange websites.
  • The call included a disclaimer that some statements may be forward-looking and involve risks, with reference to Slide #3 of the earnings presentation for details.

Financial Highlights Discussed:

  • Consolidated Revenue from operations: ₹414 crores, representing 11% year-on-year (YoY) growth.
  • Consolidated Collection from customers: ₹463 crores, representing 8% YoY growth.
  • Consolidated Deferred revenue: ₹2,014 crores, representing 16% YoY growth.
  • Consolidated EBITDA: ₹146 crores, representing a margin of 35%.
  • Consolidated Other income: ₹107 crores, primarily due to mark-to-market gains on the treasury portfolio.
  • Consolidated Net profit: ₹172 crores.
  • Consolidated Cash generated from operations: ₹163 crores.
  • Consolidated Cash and treasury balance: ₹3,553 crores as of June 30, 2026.

Operational Metrics:

  • Unique business enquiries: 26 million in Q1.
  • Paying supplier base: 218,000 at the end of Q1, reflecting a net decline of 1,850 suppliers during the quarter, attributed to moderation in gross additions and elevated churn in the Silver subscription tier.
  • Platinum and Gold subscribers contribute ~50% of the customer base and over 75% of revenue.

Strategic and Business Updates:

  • The Board of Directors approved the creation of a new wholly-owned subsidiary, IndiaMART Finance Limited. The entity will serve MSMEs for their short-term credit requirements by working with partnership lenders to create products for short-term transaction financing. The company has no plans to lend large amounts from its own balance sheet.
  • Initiatives to enhance platform trust and safety were highlighted, including a multi-layer KYC process, TrustSEAL verification, a new seller verification feature, and a Buyer Payment Protection Program for eligible purchases with TrustSEAL verified suppliers.
  • The company is accelerating its AI evolution, incorporating intelligent capabilities, standardized cataloguing, intelligent matchmaking, content moderation, and an agentic call handling system that autonomously handles over 1 lakh calls per day.
  • Experiments on buyer monetization were mentioned, including a paid buyer program for value-added services and buyer audience monetization through third-party advertising platforms via retargeting mechanisms.

BUSY Infotech (Subsidiary) Performance:

  • Billing: ₹59 crores, representing 10% YoY growth.
  • Revenue from operations: ₹36 crores, representing 47% YoY growth.
  • Deferred revenues: ₹146 crores, representing 44% YoY growth.
  • Cash from operations: ₹16 crores.
  • New licenses sold: Approximately 12,000 in Q1, bringing the total to 454,000.
  • Launched a new version, BUSY Magic, with a revamped UI/UX.

Q&A Session Key Points:

  • Management clarified that the decline in buyer enquiries (~11%) was partly due to the introduction of OTP verification for buyers (causing a ~4-5% decline) and potential traffic migration to LLMs, though quantification was difficult.
  • The churn issue is primarily concentrated in the first 12 months of a Silver subscription. Renewal and retention rates improve significantly from the second year onwards.
  • The company is migrating towards 100% GST verification for its marketplace and has begun bank account verification for sellers.
  • Regarding the impact of LLMs on search traffic, management acknowledged it is a significant industry-wide debate and challenge, with no clear resolution yet. Early efforts are focused on understanding traffic attribution.
  • On investments, the company has made follow-on investments in portfolio companies like Bizom, Fleetx, SuperProcure, and Aerchain, driven by their working capital or growth needs. The strategy remains focused on strategic investments rather than becoming a venture investing firm.

Additional Notes Section

  • The transcript was an attachment to the regulatory filing and was edited for readability but is not a verbatim record.
  • The document is a disclosure of the event transcript itself; the primary financial data was disclosed in the results announcement prior to this call.