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 Bengaluru.
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 Bengaluru.
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
Railways capital expenditure for FY26 may be pegged at ₹2.9L crore
\"THE RAILWAYS IS working on multiple fronts which require significant capital expenditure from the government.\"
Trade Partner Or Adversary?
India must think beyond China-Plus-One strategy as the world trade order is rapidly changing
Tech firms face setback as Wi-Fi spectrum allocation plan nixed
IN A MOVE that could significantly impact tech giants such as Meta, Google and others, the department of telecommunications (DoT) has decided not to pursue the delicensing of new spectrum for Wi-Fi use, officials said.
Davos meet: Southern states ready to woo investors
FROM CRAFTING CATCHY campaign slogans to emphasizing sector-specific strengths and policy initiatives, southern states are in a heated race to outshine each other at the annual World Economic Forum (WEF) meeting in Davos, starting Monday.
VinFast's India plan on despite no clarity on govt incentive
VIETNAM'S LEADING AUTOMAKER VinFast has decided to go ahead with its India plan irrespective of whether the government decides to include it in the EV manufacturing promotion scheme.
Protesters storm court after it extends Yoon's detention
Hundreds of supporters of South Korea's arrested president, Yoon Suk Yeol, stormed a court building early on Sunday after his detention was extended, smashing windows and breaking inside, an attack the country's acting leader called \"unimaginable\".
Despite market volatility, STT collections jump 75%
Despite the volatility in the stock market, the Securities Transaction Tax (STT) collection has shot up by over 75% to ₹44,538 crore as of January 12, 2025, as against ₹25,415 crore raised in the same period in 2024.
Comfortable design for 24/7 wear
It tracks fitness, sleep, stress & other key health vitals
LTIMindtree Hopeful of Sustaining Growth Momentum Going Ahead
FY26 TO OUTPERFORM FY25, SAYS MD & CEO
Hybrid funds built for volatility
If interest rates fall, bond component of such funds will benefit
