IndiaMART InterMESH Limited, a leading online B2B marketplace in India, announced a bonus ratio of 1:1 on April 28, 2023. This means that for every one share held by shareholders as of June 21, 2023, they will receive one additional share. The bonus shares will be credited to shareholders' accounts on June 21, 2023.
The bonus ratio announcement was made in recognition of the company's strong financial performance in the fiscal year 2022-23. The company reported a net profit of ₹100 crore for the fiscal year, up from ₹80 crore in the previous year. Revenue also increased by 10% to ₹500 crore.
The company's strong performance was driven by a number of factors, including:
- Continued growth in the Indian e-commerce market: The Indian e-commerce market is growing rapidly, and IndiaMART InterMESH is well-positioned to benefit from this growth.
- Increased adoption of digital marketing: Businesses are increasingly adopting digital marketing to reach their target customers. IndiaMART InterMESH provides a platform for businesses to connect with potential customers, and this has helped to drive the company's growth.
- Improved operational efficiency: The company has made significant investments in improving its operational efficiency, which has helped to reduce costs and improve profitability.
The bonus ratio announcement is a positive sign for IndiaMART InterMESH and its shareholders. The company's strong financial performance and the bonus ratio announcement are likely to boost investor confidence in the company.
