IndiaMART eyes 20% growth as it hopes to add 9,000 paying subscribers every quarter

IndiaMART InterMESH — an online B2B marketplace — is confident of finishing the financial year with revenue growth to the tune of 20 percent and above, banking on a recovery in enquiries and customer addition. "April, May and June were specifically bad during the (Russia-Ukraine) war and the inflationary problems, but now I think that is behind us to some extent," Dinesh Agarwal, Founder and CEO of IndiaMART InterMESH, told CNBC-TV18.

Remarks from the chief of IndiaMART InterMESH, which operates through web-related services and accounting software services segments, comes at a time when business across sectors are hoping to see a pickup in margins. This comes amid easing input costs after months of elevated levels of raw material prices.

IndiaMART has been gaining market share in the e-commerce space, and is confident of adding 8,000-9,000 suppliers to its paying subscriber base every quarter for the next few quarters, said Agarwal.

"We have been adding about 8,000-9,000 customers per quarter now as against 5,000-6,000 that we used to add pre-COVID. Given the economy has now opened up completely from COVID, I think our sales and service forces are completely on the ground," he said.