India mart conducted Q3 FY23 con call on 20 January 2023
Here are the key highlights of the call 👇👇👇
Here are the key highlights of the call 👇👇👇
• Overview
- Growth momentum in paying subscribers was largely driven by recovery across industries & demand for digital transformation due to accelerated internet adoption
Co. is investing in growth primarily in manpower across sales servicing product & technology
- Growth momentum in paying subscribers was largely driven by recovery across industries & demand for digital transformation due to accelerated internet adoption
Co. is investing in growth primarily in manpower across sales servicing product & technology
- Traffic & enquiries have significantly increased from pre covid mainly because of shortages in covid, now it this traffic is slowly tapering down
- Less than 10% traffic comes from international market so co. is not affected by global problem
- Less than 10% traffic comes from international market so co. is not affected by global problem
- One-third customer comes on annual subscription & two-third customers come on monthly subscription, monthly subscription customers have much higher churn
- Q4 has lower due to higher customer collections
- Q4 has lower due to higher customer collections
• Financials
- Consolidated collections from customers grew by 28% YoY
- Deferred revenue grew by 29%, mainly driven by 24% increase in number of paying customers, paying subscription suppliers & addition of accounting software services segment
- Consolidated collections from customers grew by 28% YoY
- Deferred revenue grew by 29%, mainly driven by 24% increase in number of paying customers, paying subscription suppliers & addition of accounting software services segment
- 90-day repeat buyers stands at 53-54% that represent continued trust of platform
- Revenue grew by 34% YoY
- Co. has raised primary capital from institutional investors at good valuation
- Co. is expecting to add 8000+ customers per quarter which would be 32000 in a year
- Revenue grew by 34% YoY
- Co. has raised primary capital from institutional investors at good valuation
- Co. is expecting to add 8000+ customers per quarter which would be 32000 in a year
- Co. has started making investments in market & currently manpower expenses has gone up due to increase in employees & increase in average salaries, that led to lower margins
- Arpu increase is seen when customers upgrade to gold & platinum subscription
- Arpu increase is seen when customers upgrade to gold & platinum subscription
• Busy Infotech
- In Q3 this segment has generated positive cash flow of 4.3 cr
- Co. has started growing partner network especially to improve penetration in under penetrated geographies across India
- Co. expect in doubling growth rate of this segment in this financial year
- In Q3 this segment has generated positive cash flow of 4.3 cr
- Co. has started growing partner network especially to improve penetration in under penetrated geographies across India
- Co. expect in doubling growth rate of this segment in this financial year
- Busy has seen drop in margins which is mainly due to investments in building sales team across India & trying to be present in under penetrated markets
- ARPU is low compared to value which will improve as customers adopt cloud solutions whose subscription would be high
- ARPU is low compared to value which will improve as customers adopt cloud solutions whose subscription would be high
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