Infra.Market has maintained its upward momentum, recording substantial growth in FY24, marked by a 23% increase in revenue and surpassing the Rs 14,500 crore mark. This impressive year-end performance saw the company’s profit after tax (PAT) climb over 2.4 times, closing at Rs 378 crore for the fiscal year ending March 2024.
In its latest press release, Infra.Market reported a consolidated revenue of Rs 14,530 crore for FY24, up from Rs 11,847 crore in FY23. This revenue growth has been attributed to heightened demand and the company’s expanded footprint across its diverse construction material portfolio.
Focused on offering construction materials, infrastructure goods, and technical equipment, Infra.Market has seen significant gains across its product lines. However, the company did not disclose detailed revenue and expense allocations in its report.
Infra.Market’s PAT for FY24 surged to Rs 378 crore, a significant leap from Rs 155 crore in FY23. The PAT margin saw a noticeable improvement, rising from 1.3% in FY23 to 2.6% in FY24, while the EBITDA margin also showed an increase, climbing from 6.6% to 7.5% in the same period.
During FY24, Infra.Market emphasized growth through investments in manufacturing capabilities and the launch of private-label products across various categories, including concrete, walling solutions, paints, electricals, wood, and tiles. The company also noted that its retail and consumer sectors are gaining momentum alongside its core B2B services.
With approximately $540 million raised through a mix of equity and debt, Infra.Market counts Tiger Global as its leading investor, followed by Accel and Nexus Ventures, according to data from TheKredible.
As Infra.Market eyes a potential IPO, it is preparing to submit its draft red herring prospectus (DRHP). Its competitive landscape includes key players like OfBusiness, Moglix, Zetwerk, and MetalBook. OfBusiness, backed by SoftBank, is expected to go public in FY26 and remains a prominent competitor, having achieved a revenue of Rs 19,296 crore and a PAT of Rs 603 crore.
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