New Delhi: E-commerce firm IndiaMart expects to maintain a compounded annual growth rate (CAGR) of 29 per cent for the next two years, mainly on account of big brands joining the platform, a top company official said.
The business-to-business (B2B) company, which is in the process of getting listed, posted revenue of Rs 429 crore in 2017-18 and operating profit of Rs 46 crore. “Last three years our revenue has grown at CAGR of 29 per cent. Similar growth should be possible this year and next year also,” IndiaMart co-founder and CEO Dinesh Agarwal said
“We have been generating internal cash which we will deploy once we get listed. We have democratised information for around five crore products with 47 lakh suppliers through our platform. Most of the firms listed on our platform are small and medium enterprises. Now we are going to focus on big brands,” Agarwal said.
The company expects to raise up to Rs 600 crore from the initial public offer (IPO). Regarding the timing of the IPO, Agarwal said the company will assess the situation post elections.