For 2019-20, Infra.Market, which
became a unicorn early this year, had reported revenues of Rs 350.8 crore.
The company is expecting a five times growth in its revenues for the current financial year at Rs 6,670 crore, coming mainly from the growth in its private label business and B2B initiatives, its cofounder Souvik Sengupta said in an exclusive chat with ET.
The company’s earnings before interest, tax, depreciation and amortisation (Ebitda) stood at Rs 68.9 crore for FY21 against Rs 13.6 crore in FY20.
“We expect the Ebitda to be around Rs 500 crore (this fiscal),” Sengupta said. “We are projecting a 4x-5x growth over the next financial year with the majority of it coming via growth in our retail vertical. Our growth will be accompanied by higher profitability, with 70% of our products being private labelled.”
Infra.Market’s profit after tax (PAT) grew four-fold to Rs 35.9 crore in FY21 from Rs 8.9 crore in FY20.
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The company expects to improve its profitability substantially and close FY22 at almost Rs 300 crore in profits, Sengupta said. “We will continue to be focused on profitability as we are looking at creating a profitable company that can look to IPO in the next 24 to 30 months,” he said.
Infra.Market
entered the unicorn club in February this year when it raised $100 million in a round led by Tiger Global. It again
raised $125 million from Tiger Global catapulting its valuation to $2.5 billion.
Founded by Sengupta and Aaditya Sharda in 2016, Infra.Market leverages technology to provide a procurement experience for all players in the construction ecosystem. It focuses on high-volume construction products under its own brands and aims to solve issues such as a lack of price transparency, unreliable quality, fragmented vendor base, and inefficient logistics.
The company caters to both institutional customers (B2B) and retail outlets (direct to retail, or D2R) in the construction materials sector. It supplies across more than 10 states in India and exports to markets such as Dubai, Singapore and Bangladesh.
“We have also grown our export vertical substantially,” Sengupta said. “Now, international markets contribute almost 20% of our business today. There is a global shift in supply chains towards India and we think we will continue to witness substantial growth in international markets.”
The company expects its high growth rate to continue in the next financial year as well. “Our entry into new product categories and business segment such as direct to retail with our own private labels will further fuel both growth and profitability,” Sengupta said.
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