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
These Men in Blue break boundaries for the disabled
ON JANUARY 7 this year, a 17-member Indian cricket team was given a warm send-off for a four-nation Champion Trophy tournament in Sri Lanka.
Reliance steps up distribution push as FMCG vertical grows
THE FAST-MOVING CONSUMER goods (FMCG) arm of Reliance, which has touched ₹8,000 crore in topline for the first nine months of FY25, will expand distribution in north and west India, sources have told FE.
Comfortable design for 24/7 wear
It tracks fitness, sleep, stress & other key health vitals
India-Oman FTA talks nearing completion
INDIA NOT SEEKING DUTY CONCESSIONS ON LIQUOR, CIGARETTES
The promise and perils of agentic AI
Guardrails are needed for its safe and responsible use
Kotak Mahindra Bank expects NIM to improve
FRESH SLIPPAGES IN Q3 DECLINE
Trade Partner Or Adversary?
India must think beyond China-Plus-One strategy as the world trade order is rapidly changing
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\".
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.
Davos Turns Into Fortress
GIVEN THE HIGH-profile nature of the event, beginning Monday, the security is both discreet and visible and comprises snipers, drone jammers, regular frisking and checking and round-the-clock patrol.
