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IndiaMart’s founder Dinesh Agarwal explaining the recent trends in e-commerce

MSME Exchange 2021: Tech for all

<ul><li>The Economic Survey 2018-19 is making a case to use Aadhaar as a ‘master database’ for every citizen. </li><li>The Economic Survey 2018-19 also highlights how technology has helped plug leaks and corruption in the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA). </li><li>NASA successfully tests the launch abort system for its upcoming manned Moon mission, Artemis. </li><li><keyword id="127964" type="PERSON" weightage="20" keywordseo="Dinesh-Agarwal">Dinesh Agarwal</keyword>, the CEO and founder of Indiamart, is celebrating the 25% jump in the company’s valuation since its gone public. </li><li><keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s <keyword id="6354504" type="DEFINITION" weightage="20" keywordseo="reliance-jio">Reliance Jio</keyword> is collaborating with Facebook to launch a ‘digital literacy’ campaign in India claiming to be largest campaign of its kind in the country. </li></ul>This is Tech Insider’s daily dose of <keyword id="35609" type="PERSON" weightage="20" keywordseo="tech-news">tech news</keyword> — everything that’s happening in tech that you need to know about today from Business Insider and its partner publications:

Today’s top tech news: Aadhar could be a ‘master database’ of Indian citizens, NASA has a fail safe in place in case Artemis goes wrong and Indiamart’s CEO is celebrating the company's 25% jump in value

Today’s top tech news: Aadhar could be a ‘master database’ of Indian citizens, NASA has a fail safe in place in case Artemis goes wrong and Indiamart’s CEO is celebrating the company's IPO

<ul><li>In an interview with Business Insider, <keyword id="127964" type="PERSON" weightage="20" keywordseo="Dinesh-Agarwal">Dinesh Agarwal</keyword> spoke about being the first IPO after the elections and what the future looks like for IndiaMart.</li><li>IndiaMART InterMESH which is the parent company for Indiamart.com, had opened the doors for its ₹4.75 billion IPO. </li><li>Its IPO was oversubscribed 36 times.</li></ul>When IndiaMart opened its doors for an Initial Public Offering, the founder Dinesh Agarwal was apprehensive – after all, it was the first IPO after the elections with the Narendra Modi government coming back to power – and that too a tech IPO! But in two days, investors subscribed for 36 times the total number of shares on offer. Today, the stock has listed 25% over its issue price. IndiaMART InterMESH which is the parent company for Indiamart.com – one of the country’s biggest online marketplaces for businesses – is one of the country’s oldest e-commerce ventures that started in 1999. It competes with TradeIndia.com, Alibaba India and ExportersIndia.com. IndiaMart has over 82.7 million registered buyers and 5.55 million supplier storefronts across 54 industries in India at the end of March 2019. This compares to TradeIndia.com’s (founded in 1996) 4.96 million registered users today, ExportersIndia’s (founded in 1997) over 2.7 million users in India. Meanwhile, the global e-commerce giant Alibaba, which launched the India unit in 2008, has over 6 million members with 15,000 Indian SMEs on its platform. However, at IndiaMart competition isn’t a worry. “We are 16X the size of our next competition, our lead is only growing. It’s a winner takes it all kind of a market and we are getting the larger share as the market is growing,” Dinesh Agarwal, founder and CEO of IndiaMart, told Business Insider. In an interview, Agarwal said the IPO process very overwhelming but he was sure of the prospects. “We were confident about our numbers, having built a robust business and having had great numbers since the last three years. Even while the small and medium enterprises had faced temporary setbacks like demonetization, GST and then the elections, we have managed to put out our best performance,” said Agarwal. IndiaMart’s revenue has been growing at 29% per annum for three years. IndiaMart, which was founded in 1999, today claims to have a 60% market share of the online business classifieds space in India, and it focuses on providing a platform to Small &amp; Medium Enterprises (SMEs), large enterprises as well as individuals. Will the success of Indiamart’s IPO open the doors for others too? “That’s a tall claim. I think it all depends on the readiness of the company rather than the market,” he said. With a listing on the stock market, IndiaMart is now open to market scrutiny. But Agarwal is rest assured. “Our business model has been proven time and again. We know how to steer through tough times and accept newer technologies. When we started we were a desktop based company, now we are a mobile B2B company, so we have seen how to evolve with time. We have seen 5 governments too through our time!,” he said. With the IPO proceeds in its kitty, IndiaMart plans to grow bigger. “Today we are attracting larger companies like Jindal Steel, JCB Machines, who are advertising and generating leads on our platform. We have also adapted SaaS - Software as a Service - where we have developed a CRM for SMEs to manage their leads, invoice management and more,” he said. IndiaMart has also started offering payment facilitation services and Agarwal is looking at fintech as a space to grow further. “Going forward we will be looking at buyer purchase financing and SME lending as well,” he said. SEE ALSO: <a href="https://www.businessinsider.in/indiamart-ipo-subscription-data-and-competition-with-alibaba/articleshow/69930223.cms">IndiaMart, a 20-year old online marketplace and one of the country’s biggest, is selling shares as e-commerce gets more competitive</a>

Indiamart founder CEO Dinesh Agarwal celebrating a 25% jump in value at listing says Indian e-commerce is a ‘winner takes all’ market

<ul><li>Promoters are cashing out of <keyword id="381854" type="COMPANY" weightage="20" keywordseo="Indiamart">Indiamart</keyword> with the ₹4.75 billion initial public offering.</li><li>The IPO closed the first day with 50% subscription. </li><li>IndiaMart faces competition from the likes of Alibaba India.</li></ul>IndiaMart is India’s first big initial public offering (IPO) in the Narendra Modi government’s second term. At the end of the first day, the IPO has been subscribed by 50%. IndiaMART InterMESH which is the parent company for Indiamart.com – one of the country’s biggest online marketplaces for businesses – had opened the doors for its ₹4.75 billion IPO. A total of 4.88 million shares of the company are up for grabs,at a price band of ₹970-₹973 per share. The IPO will be closed for subscription on June 26. IndiaMart had also registered a compounded annual growth in revenue (CAGR) of 26% in the last three years. However, Indiamart will not receive any of the IPO proceeds. In fact, the listing is only an offer for sale (OFS) through which the promoters and shareholders will dilute 0.49 crore shares of the company. Competition in the market IndiaMart, which was founded in 1999, today claims to have a 60% market share of the online B2B Classified space in India, and it focuses on providing a platform to Small &amp; Medium Enterprises (SMEs), large enterprises as well as individuals. IndiaMart has over 82.7 mn registered buyers and 5.55 million supplier storefronts across 54 industries in India as of FY19. What’s better, there has been a growth of 21% in paid subscribers on the platform in the last three years, according to Geojit, and the number of registered buyers has grown 45% in the same period <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[
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 However, its competitors are far behind. Some of its competitors are TradeIndia.com, Alibaba India and ExportersIndia.com. TradeIndia.com was started in 1996 has over 4.96 million registered users today, according to the company’s official website. ExportersIndia was founded in 1997 and has over 2.7 million users in India. Meanwhile, the globally e-commerce giant Alibaba launched the India unit in 2008 and has over 6 million members with 15,000 Indian SMEs on its platform. Alibaba could soon push for growth in the Indian market too given the economy’s potential as the world’s fastest growing economy. E-commerce in India is expected to be $200 billion industry by 2026. Key risks That brings us to the biggest risks that the company could face in the near term. Aside from competition, there is a huge slowdown in overall consumption in India. “Demand slowdown for the types of products and services listed by suppliers on IndiaMart online marketplace,” was the top risk cited by Geojit in a report, followed by losses in previous years as well as high employee costs.

IndiaMart, a 20-year old online marketplace and one of the country’s biggest, is selling shares as e-commerce gets more competitive

<ul><li>India accounts for only 0.25% of the 4,000 highly-cited scientists across the globe, according to <keyword id="4393714" type="PERSON" weightage="20" keywordseo="clarivate-analytics">Clarivate Analytics</keyword>. </li><li>The number has doubled since 2017 but that’s only because the company added an additional category to include ‘cross field’ researchers. </li><li>India’s neighboring country, <keyword id="1334" type="LOCATION" weightage="20" keywordseo="China">China</keyword>, stands at the third position with nearly 482 scientists.</li></ul>With only 10 Indian scientists featuring in the list of 4,000 highly-cited researchers across the globe, the country lags far behind China in new contributions towards science and innovation,<a href="https://clarivate.com/blog/news/global-highly-cited-researchers-2018-list-reveals-influential-scientific-researchers-and-their-institutions/"> said a recent report by</a> Clarivate Analytics — a company that names people with multiple papers ranking in the top 1% by citations for their field and year. Interestingly, most of the science experts listed do not come from highly ranked institutes in India that are always creating buzz for their scientific innovation. However, a professor from each IIT-Kanpur, IIT Madras, JNU, and NIT-Bhopal are on the global list. Meanwhile, China is among the top three countries with 482 science experts. India couldn’t even make it up to the top 10 countries. <keyword id="23050" type="LOCATION" weightage="20" keywordseo="Sweden">Sweden</keyword> (53%), Austria (53%), Singapore (47%), Denmark (47%), China (43%) and South Korea (42%) are among the nations that have 40% of their Highly Cited Researchers selected in the cross-field category. India and China used to be on the same page in terms of contribution about 15 years ago but now China accounts for nearly 16% This could be considered a victory for India since the number of scientists on the list has doubled since 2017. But Dinesh Mohan, one of the scientists on the list, says that’s only because the report includes an additional category of ‘cross field’ researchers. The list highlights the need to improve the research ecosystem in India and deal with <a href="https://www.nature.com/articles/d41586-018-06048-2">problems </a>like predatory journals. According to experts, Indian academicians lack focus on quality research. Ashok Pandey, a researcher featured on the list, claims that poor representation in science is a matter of national concern and need to be addressed by lawmakers, government and other respective stakeholders. Analysts add that India has a negligible representation in the world’s highly cited researchers primarily because the nature of research is theoretical. Here are the Indian figures featured on the list - Alok Mittal <ul><li>Maulana Azad National Institute of Technology </li><li>Specialisation: Environmental Science, Water Treatment and Chemistry. </li></ul>Ashok Pandey <ul><li>Council of Scientific &amp; Industrial Research (CSIR)</li><li>Specialisation: Microbial and Enzyme Technology, Food and Fermentation Technology Industrial Biotechnology </li></ul>Rajeev Varshney <ul><li>International Crops Research Institute for the Semi-Arid Tropics</li><li>Specialisation: Applied Genomics, Molecular breeding, Crop Biotechnology. </li></ul>Jyoti Mittal <ul><li>Maulana Azad National Institute of Technology </li><li>Specialisation: Environmental Science, Water Treatment and Surface Chemistry. </li></ul>Dinesh Mohan <ul><li>Jawaharlal Nehru University</li><li>Specialisation: Water and wastewater monitoring, biofuels products. </li></ul><keyword id="3690833" type="PERSON" weightage="20" keywordseo="avinash-kumar-agarwal">Avinash Kumar Agarwal</keyword> <ul><li>IIT-Kanpur</li><li>Specialisation: bio butanol, biodiesel development, Engine combustion investigation.</li></ul>Rajnish Kumar <ul><li>IIT-Madras</li><li>Specialisation: Carbon dioxide capture, methane and hydrogen storage, and Gas hydrates. </li></ul>Sanjeeb Sahbo <ul><li>Institute of Life Sciences,</li><li>Specialisation: Use of nanotechnology in cancer drug delivery, especially cancer cure</li></ul>CNR Rao: Is <keyword id="100256" type="ORGANIZATION" weightage="20" keywordseo="Bharat-Ratna">Bharat Ratna</keyword> <ul><li>Jawaharlal Nehru Centre for Advanced Scientific Research</li><li>Specialisation: Structural Chemistry, solid state, and material chemistry</li></ul>Sakthivel Rathinaswamy <ul><li>Bharathiar University</li><li>Specialisation: Applied Mathematics (control theory)</li></ul>See more- <a href="https://www.businessinsider.in/latest/culture-of-fear-india-fifth-deadliest-country-for-journalists/articleshow/67178072.cms">Culture of fear — India fifth ‘deadliest’ country for journalists</a> <a href="https://www.businessinsider.in/miners-trapped-in-meghalaya-for-over-two-weeks/articleshow/67257937.cms">15 miners have been trapped in a rat hole mine for two weeks — Indian government at a loss for solutions</a>

Only 10 scientists from India featured in the world’s ‘highly-cited’ researchers list compared to 482 from China

For the umpteenth time, when asked about <keyword id="6354884" type="ORGANIZATION" weightage="40" keywordseo="Delhi-Daredevils">Delhi Daredevils</keyword>' wretched season, Kevin Pietersen replied with his most sobering assessment of the worst team in the league. "We've tried a lot of things, nothing has gone according to plan. It's about executing your skills, which we haven't done well enough. No one's here to blame anyone. If you're good enough, you'll turn it around." 

	Had he replied in Gaelic, or spoken about the merits of the Bernoulli Equation, it would have had a similarly hollow tone. Those were the words of a beaten man, left to crinkle his nose at the stench of a rotting corpse of a side.
 

	Everything about Daredevils is in shambles. Their campaign began with Pietersen - acquired for Rs 9 crore - miss the initial few games due to injury. The player to get a look-in, Ross Taylor, struggled to dominate with the bat. In the midst of a poor start, Daredevils lost fast bowler Nathan Coulter-Nile to injury early in the season. Then went Saurabh Tiwary with a shoulder injury. Around this time, Daredevils released three uncapped players, one of which was batsman Milind Kumar, the distant but only local connect the franchise had. Whatever changes were made, results were not forthcoming. They have been poor with the bat, ball, in the field and in their thinking.
 Much has been written about the management holding back <keyword id="69475" type="ORGANIZATION" weightage="40" keywordseo="JP-Duminy">JP Duminy</keyword> and Kedar Jadhav, the two batsmen with the highest averages and strike-rates this season, and how denying them more deliveries to face has resulted in sub-standard totals. Daredevils' problems are deeper than that. They just aren't ticking. Thursday's match in Ahmedabad against Rajasthan Royals cannot be termed a contest. It was an embarrassment. Pietersen's decision to field came a cropper as RR piled up their highest total this season, 201 for 6, to which Daredevils replied with 139 for 9, losing half their wickets inside ten overs. With qualification for the <keyword id="6354312" type="CITY" weightage="40" keywordseo="IPL">IPL</keyword> 7 play-offs out of the question, you could have expected DD to make a statement, play with some freedom and express themselves. It didn't happen. What panned out was a yawn-inducing mismatch. <keyword id="172496" type="PERSON" weightage="40" keywordseo="Rahul-Shukla">Rahul Shukla</keyword>, after going for 41 in the previous match, conceded 44 from his four. Siddarth Kaul went for 34 in three. Manoj Tiwary, who rarely bowls, conceded 28 in his two overs, one of which was the 19th of RR's innings that cost 17. On the same track on which Ajinkya Rahane cruised, Kevon Cooper teased, Sanju Samson belted 40 off 25 and James Faulkner finished with 23 off eight balls, Daredevils made 139 for 9. Only one batsman crossed 17; six made single-digit scores. Daredevils' entire season has been a colossal waste of batting talent, with <keyword id="6355316" type="PERSON" weightage="40" keywordseo="Dinesh-Karthik">Dinesh Karthik</keyword> (the second most expensive purchase of the IPL auction at Rs 12.5 crores) repeatedly falling to leg-side heaves regardless of the match situation, an IPL pro in <keyword id="57265" type="PERSON" weightage="40" keywordseo="Murali-Vijay">Murali Vijay</keyword> failing to make an impact, Pietersen not playing a single convincing innings and the domestic pool not stepping up, barring Jadhav. 

	Compare this to RR's success. Rahane has 316 runs this season, which is more than Pietersen, Taylor and Mayank Agarwal have managed. When you consider that Karun Nair, a rookie domestic batsman playing his first IPL, has scored significantly more than Pietersen, you get a sense of why Daredevils are languishing at the bottom of the table.
 

	This is not to take away from how well Royals bowled. Dhawal Kulkarni was accurate and probing, Faulkner struck in the only over he bowled early on, Pravin Tambe dismissed the dangerous Duminy and Rajat Bhatia prised out two important wickets with his canny dibbly-dobblers. The sucker ball to get Taylor caught and bowled was a wicket Bhatia will cherish.
 With seven wins from 11 matches, Rajasthan remain at third on the points table and look poised to make it to the play-offs, which leaves <keyword id="6354467" type="PERSON" weightage="40" keywordseo="Kolkata-Knight-Riders">Kolkata Knight Riders</keyword>, Sunrisers Hyderabad and <keyword id="6354506" type="CITY" weightage="40" keywordseo="Royal-Challengers-Bangalore">Royal Challengers Bangalore</keyword> in a three-way fight to take the last spot in the top four. Daredevils, like Mumbai Indians, have only pride to play for. But if they keep playing like they did against Royals, even that might be too much to expect.

IPL: Delhi Daredevils' Wretched Downward Spiral Continues

<keyword id="351" type="PERSON" weightage="40" keywordseo="Yuvraj-Singh">Yuvraj Singh</keyword> smashed a 29-ball 68* with the help of nine sixes as <keyword id="6354506" type="CITY" weightage="40" keywordseo="Royal-Challengers-Bangalore">Royal Challengers Bangalore</keyword> (186 for 4) saw off Delhi Daredevils (170 for 7) by 16 runs at the Chinnaswamy Stadium on Tuesday night. With their fourth win in 10 matches, RCB kept their remote play-off hopes alive, while DD suffered their eighth defeat in 10 matches to keep scraping the bottom of the barrel. 

	Ever since the World T20 final defeat against Sri Lanka where Yuvraj scored a 21-ball 11, he has been at the centre of criticism with many questioning his batting credentials. In a quest to restore his good name, the left-hander started his IPL campaign on a great note, scoring a match-winning 29-ball 52 against DD in RCB's first match. Despite a great start to the season, Yuvraj all of a sudden waned and so did the fortunes of the team.
 

	However, in the last game against Rajasthan Royals, the left-hander made 83 off 38 balls and took four wickets to show first real signs of his returning to form. On Tuesday, Yuvraj continued from where he had left off against RR, putting DD bowlers to the sword. Against Shane Watson's men, Yuvraj's efforts had gone up the spout but against DD, the team won, erasing the bitterness of the defeat in the last game.
 

	Yuvraj joined AB de Villiers at 93 for 3 in 12.3 overs and showed positive intent straight away, scoring a four off his third ball. The duo had added 132 against RR and looked set to do another similar act. However, de Villiers failed this time losing his stumps to Kaul for 33.
 An undeterred Yuvraj hit legspinner Imran Tahir for three consecutive sixes in the 17th over to bring plenty of momentum to the RCB innings. Yuvraj continued his assault, sending Mohammad Shami and Siddarth Kaul over the fence in the 18th and 19th overs respectively. In the last over bowled by <keyword id="172496" type="PERSON" weightage="40" keywordseo="Rahul-Shukla">Rahul Shukla</keyword>, Yuvraj showed his most devastating side, hitting four successive sixes. The over yielded 27 runs in all. 

	Yuvraj also bowled an economical over towards the end - 16th over of the innings - giving away just four runs and hampered DD's momentum a great deal; the visitors needed 68 off 30 balls before Yuvraj's over. He kept the dangerous JP Duminy quiet. Considering the margin of the win and Duminy's 30-ball 48, the over was very important in the context of the game.
 Sri Lanka great <keyword id="26689" type="PERSON" weightage="40" keywordseo="Muttiah-Muralitharan">Muttiah Muralitharan</keyword> also showed some glimmers of his past skills and got rid of <keyword id="57265" type="PERSON" weightage="40" keywordseo="Murali-Vijay">Murali Vijay</keyword> whom DD had brought back for this match in place of Laxmi Ratan Shukla. Hadn't wicketkeeper Parthiv Patel dropped Mayank Agarwal in the third over, Murali's second, the Sri Lankan would've had his second victim in as many overs. Murali, along with Mitchell Starc, who cleaned up Quinton de Kock for six in the second over, ensured there weren't even distant hopes of a win for the visitors. However, Mayank Agarwal (31), Kevin Pietersen (33), Kedar Jadhav (37) and Duminy combined to make a match of it but Yuvraj's assault with the bat eventually turned out to be difference. Murali returned with 2 for 25, <keyword id="6355316" type="PERSON" weightage="40" keywordseo="Dinesh-Karthik">Dinesh Karthik</keyword> being his second victim. 

	Earlier, after the match was delayed for 70 minutes due to rain, DD captain Pietersen won the toss and put the hosts in to bat. RCB struggled in the first half of their innings but Yuvraj's extraordinary power-hitting in the next helped the team fetch 71 runs in the last four overs. Yuvraj and Sachin Rana (15) added an unbeaten 79 for the fifth wicket.
 

	Jharkhand fast bowler Shukla got the sought-after breakthrough in the sixth over when he removed Chris Gayle for 22. The West Indian was looking in great touch, manifested by two big sixes off Shami and Duminy, before chopping the ball onto his stumps as he charged down the track.
 

	RCB captain Virat Kohli's lean patch continued as he succumbed to an unnecessary run-out for 10 off the first ball of the eighth over, Shukla again playing a part. The ball from legspinner Tahir took an inside edge in the direction of fine leg where the sturdy fast bowler was keeping vigil; a rocket throw from Shukla reached wicketkeeper de Kock who removed the bails in a flash and Kohli found himself short of crease.
 

	de Villiers joined a cautious Parthiv Patel and both began the repair work. At the start of their partnership, there were only singles and doubles. Things changed for RCB in the 11th over as Patel picked up two boundaries off Tahir. Buoyed by the over, de Villiers took 18 runs off the next over bowled by medium pacer Kaul with the help of two fours and a six.
 

	The 49-run stand was broken by Shami's slower ball in 13th over. The diminutive left-hander got deceived and gave a simple catch to Karthik at point for 29. Thereafter it was all Yuvraj's show.
 

	Brief score: Royal Challengers Bangalore 186 for 4 in 20 overs (Yuvraj 68*; Shami 1/31) beat Delhi Daredevils 170 for 7 in 20 overs (Duminy 48; Muralitharan 2/25) by 16 runs.

Yuvraj's Sparkle Breaks RCB's Losing Streak

<ul><li><keyword id="381854" type="General" weightage="20" keywordseo="indiamart" source="Orion">IndiaMart</keyword>’s share price is now above the ₹8,000-mark, compared to ₹1,800 in March 2020.</li><li>The B2B e-commerce company now sits on a market cap of ₹27,483.8 crore ($3.7 billion).</li><li>IndiaMart competes with Tencent-backed Udaan and publicly listed company Just Dial, which was recently acquired by Reliance Industries.</li></ul>If you invested ₹25,000 in <keyword id="5802502" type="General" weightage="20" keywordseo="indiamart-intermesh" source="Orion">IndiaMart InterMesh</keyword> Limited last year in March, your shares would now be worth over ₹1,21,000. It wasn’t a long time ago that IndiaMart’s shares were valued at ₹1,846 (March 27, 2020), right after India stepped into the pandemic-induced lockdown. Along with these restrictions came massive supply chain disruption that left Indian industry — from manufacturing to healthcare — in a void. IndiaMart has been gaining from it since then. A business model that allows buyers and sellers to interact and cash in on their product needs — without physical contact — has allowed IndiaMart to garner the interest of more customers and get confidence of retail investors amidst the pandemic. IndiaMart currently competes with Tencent-backed <a href="https://www.businessinsider.in/business/startups/news/indian-b2b-e-commerce-startup-udaan-raises-280-million-valuation-jumps-to-over-3-billion/articleshow/80132753.cms">Udaan</a> (valued at $3 billion) and publicly listed company Just Dial (market cap of $845 million), which was recently <a href="https://www.businessinsider.in/stock-market/news/mukesh-ambanis-reliance-retail-to-buy-majority-stake-in-justdial-vss-mani-to-continue-as-md-and-ceo/articleshow/84477000.cms">acquired </a>by Reliance Industries. IndiaMart’s share prices were above ₹8,900 as of September 8, 2021. The company’s share prices have increased 24% in the last month, from ₹7,236 on August 9. It now sits on a market capitalisation of ₹27,483.8 crore ($3.7 billion). <div type="image" title="Indiamart share price has gone up nearly five times in last 18 months and the record profit is only a part of what’s driving it" msid="86058098" hostid="261"></div> Jyoti Roy, equities strategist at Angel Broking, told Business Insider India that COVID-19 has shifted B2B commerce trends, from offline to online, and IndiaMart is strategically positioned to cater to such trends. Structural changes have happened in terms of supply and demand, and how these needs are met, he added. As COVID-19 has forced micro, small and medium enterprises (MSME) into the digital arena, all companies that enable such transformation have benefited from it. In general, any newage business — like Affle India or Route Mobile — that lays more stress on digital or digitisation have benefited in the last one year, Roy added. Deven R Choksey, managing director of KR Choksey Investment Managers, noted, “everyone wants to make investments in these kinds of businesses when they are not losing money. In a business-to-customer (B2C) model ecommerce platform loses money.” <div type="image" title="Indiamart share price has gone up nearly five times in last 18 months and the record profit is only a part of what’s driving it" msid="86058074" hostid="261"></div> Founded in 1996, by Dinesh Agarwal and Brijesh Agrawal, IndiaMart currently enables business and discovery for MSMEs. It helps these small businesses with buyer and seller negotiations as well as quotation and invoicing of products. The company has been planning to expand further into the commerce side of the business, with payments, logistics/tracking and transactional financing. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Key points to note about IndiaMart’s performance in April to June quarter of FY22 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndiaMart reported a revenue of ₹210 crore, with a new profit of ₹91 crore. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">The company had 66 lakh suppliers on its platform. Its traffic grew to 248 million (24.8 crore). </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">It witnessed organic growth and did not incur any advertising spends. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">The company had 146,000 paid suppliers. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Average revenue per user (ARPU) increased to ₹49,700. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">It reported a revenue of ₹750 crore in FY2021. </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: IndiaMart’s financial report, Motilal Oswal “Apart from collections and revenue growth, IndiaMART has shown higher resilience on the margin front. While we concur that margins at current levels are unsustainable, it would see positive benefits from cost optimisation and operating leverage in the long term,” Motilal Oswal said in a <a href="https://www.motilaloswal.com/site/rreports/637628892983928419.pdf">report </a>published in July 2021. More small businesses are going digital, placing orders and finding new customers online. The company has over 70% market share in the underlying industry, the report noted. What’s better, the buyers and sellers on IndiaMart are less sensitive to pricing by the platform, according to Motilal Oswal, allowing the company to steadily increase its average revenue per user. ALSO WATCH: IndiaMart’s founder Dinesh Agarwal explaining the recent trends in e-commerce <div type="Video" msid="86061546" hostid="261" title="IndiaMart’s founder Dinesh Agarwal explaining the recent trends in e-commerce" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=86061546"></div> Motilal Oswal, in the report published before Reliance’s acquisition of Justdial, added, “IndiaMART would continue to work on gaining buyer and supplier traction to emerge as the market leader in this space.” Meanwhile, Roy of Angel Broking said that B2B e-commerce is still at an nascent stage but there is a lot of growth potential for each company over the next three-five years. Therefore, it’s too early to comment on competition at the moment. He also noted that the new age digital businesses have the potential to be valued much higher than the traditional information technology (IT) business that enjoys supremacy today. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/zomato-policybazaar-investor-info-edge-invested-in-nearly-2-startups-every-month-in-2021/articleshow/86028438.cms">Zomato, PolicyBazaar investor Info Edge invested in nearly 2 startups every month in 2021</a> <a href="https://www.businessinsider.in/business/startups/news/byjus-bags-another-150-million-to-fund-its-acquisition-spree/articleshow/86027937.cms">Byju’s bags another $150 million to fund its acquisition spree</a> <a href="https://www.businessinsider.in/business/startups/news/zoho-corp-invests-5-million-in-medical-devices-startup-voxelgrids/articleshow/86000656.cms">Zoho Corp invests $5 million in medical devices startup Voxelgrids</a>

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