It's been a rough couple of years for IndiaMart InterMesh, but Dinesh Agarwal is betting things will look up. The CEO of the country's biggest B2B portal, which caters to small enterprises, is hopeful the pace of customer additions will perk up. Since June 2023, just about 1,000-3,000 customers have been added every quarter compared with about 5,000 a quarter before that.
Moreover, right now, the churn among suppliers, especially those that are on what's called the silver plan, is worrying, having gone up to 7-8% since Q1FY24 from 4-5% pre-pandemic. That needs to reduce. Else, the steady fall in collections in the past six quarters, which decelerated to 5% year-on-year in Q2FY25, will be hard to reverse.
Agarwal admits there is a problem. He concedes there has been some lack of focus on client servicing and also in identifying the right suppliers. Many of those who were on-boarded onto the platform were micro units and simply didn't have the wherewithal to supply the goods that were ordered.
This story is from the December 23, 2024 edition of Financial Express Chennai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 23, 2024 edition of Financial Express Chennai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Musk's Trump trade makes Tesla a winner with $570-billion rally
LESS THAN TWO months ago, shares of Tesla were on their way to just the third losing year in the electric-vehicle maker's decade-and-a-half as a public company.
Will take back control of Panama canal, says Trump
Trump said Saturday that the Panama Canal is charging \"exorbitant prices and rates of passage\" on US naval and merchant ships, and he demanded that fees be lowered or else Panama should return the canal to the U.S.
It's slow going at Indiamart
THE B2B PLATFORM IS WORKING TO STABILISE OPERATIONS
Israeli strikes kill 17 Palestinians in Gaza
SCHOOL SHELTERING DISPLACED PEOPLE DESTROYED
Scott Boland & the 'stolen generation'
ONLY IN HIS mid-20s, did the 35-year-old Scott Boland, Australia's fast bowler set to play in the fourth Test against India, realise his aboriginal origins.
ISRO to study how crops grow in space on PSLV-C60 mission
DEMONSTRATION OF SEED germination in outer space, a robotic arm to catch a tethered debris there, and testing of green propulsion systems are some of the experiments planned on the POEM-4, the fourth stage of ISRO's PSLV rocket that remains in orbit after launching a satellite.
'If it is business as usual, Viksit Bharat by 2047 will not happen'
Raghuram Rajan, former RBI governor, in an interview with Udit Misra, speaks on a wide variety of topics, ranging from inflation to GDP growth to the impact of possible global trade war under President Trump's second term. Excerpts:
26 members enter startup billionaire club in 2024
Fifty-year-old Supam Maheshwari, an IIM Ahmedabad alumnus, founded the online platform for babycare products FirstCry after selling an e-learning company that he had set up.
Smartphone exports set to top ₹1.70 L cr
Domestic value addition, according to the India Cellular and Electronics Association (ICEA), is up to nearly 20%.
Broker strength falls 40% on compliance burdens
Brokerage firms are facing a 40% decline in strength due to increasing compliance burdens, prompting regulatory action to tighten regulations for authorized persons (APs).