Company Presentation December 2016 1
Business Overview
Company Overview India’s only Search Plus engine (Search & Transact) 80.6mn unique visitors in Q3FY17 (1) Multi platform search engine 67.9mn reviews and ratings (2) 17.3mn total business listings (2) 4,24,830 active paid campaigns (2) High rates of direct, mobile and repeat traffic Profitable business model Notes 1. Unique visitors are considered across various mediums – Voice, PC Internet, Mobile Internet – these may not necessarily be mutually exclusive. 2. As on 31 December, 2016 3
Justdial Everywhere: Connecting With Users Anytime, Anywhere Mobile Internet & Apps PC Internet Voice/SMS 8888888888 Operator assisted Hotline number Location-based search service User friendly features across India – Predictive auto-suggest Voice Search 24 hours a day, 7 days a week – Maps, directions, operating hours, Search Plus logos, pictures, videos Multi-lingual support Developed Android, iOS, Windows apps – Ratings and reviews Company/ category/product searches Search by company or category or product Search Plus Search Plus Popular category searches 4
User Community and Reviews Drive Engagement Reviews and Ratings Millions 80 67.9 70 64.8 62.6 60.6 58.3 60 55.3 53.1 51 48.4 50 45.1 41.3 40 37.1 33.7 30 20 10 0 Dec-13 Jun-14 Dec-14 Jun-15 Dec-15 Jun-16 Dec-16 Special focus on Friend’s Reviews & Ratings 5
Unique Visitors in million 90 80.6 76.6 80 75.8 75.9 75.2 71.5 71.3 66.7 70 60 46.8 36.3 37.6 38.9 41.5 36.6 36.8 30.9 50 40 11.3 10.9 10.3 10.0 30 9.9 10.6 9.7 9.5 20 27.6 27.3 26.7 25.8 24.8 25.2 24.3 24.3 10 0 Q4 FY15 Q1 FY16 Q2 FY16 Q3 FY16 Q4 FY16 Q1 FY17 Q2 FY17 Q3 FY17 Web Voice Mobile Total Voice, PC and Mobile – Unique Visitors Total Unique Visitors are considered across various mediums – Voice, PC Internet, Mobile Internet – these may not necessarily be mutually exclusive.
Attractive Value Proposition for Local SMEs Total Business Listings Paid Campaigns ‘000 Million 20 450 425 389 18 17.3 369 400 16.9 16.6 15.0 369 16 15 350 331 14 300 11.8 262 12 250 10 9.1 206 200 171 8 7.2 150 6 100 4 50 2 0 0 FY12 FY13 FY14 FY15 FY16 Q1FY17 Q2FY17 Q3FY17 FY12 FY13 FY14 FY15 FY16 Q1FY17 Q2FY17 Q3FY17 7
JD lite app – light, fast, and less than 1MB 8
JD Pay – integrated within the App for easy payments 9
Search Plus – A natural extension of our core search business Leveraging The Three Cornerstones of Our Success to Do More Trusted Strong Brand Trusted Strong Brand Established Established Relationships Relationships with Local SMEs Large, Loyal Large, Loyal with Local SMEs Across India User Community User Community Across India Enabling Best Way to Discover Enabling “Offline to Online” Shift Information About Each Other Enabling Hyper Local Commerce and Transactions “Three Clicks to Find” “Three Clicks to Transact” 10
Search Plus Services • Bus Tickets • Order Food • Train Tickets • Book A Table • Schedule a Test Drive • Book A Doctor’s Appointment • Book a Cab • Order Grocery • Hotels • Order Medicines/ Pharmacy • Movie Tickets • Order Books • Events • Diagnostics • Recharge & Bill Payments • Shopfront / Shop Online • Loans • Flight Tickets • Spas & Salons • Order Flowers • Insurance • Laundry Pick-up • Tyres & Batteries • Courier Pick-up • On Demand Services • Car Servicing • Automobiles • AC Servicing • Jobs • Water Purifier Servicing • International SIM cards • Mineral Water Order • FOREX 11
Products and Services – Search Plus Shop Online Hail a Cab Order Grocery Options of Wallets for Payment 12
Products and Services – Search Plus Foreign Exchange Book Train Tickets Book Movie Tickets Loans 13
Search Plus: Win-Win for Users and SMEs • Enable O2O transformation • Choose vendor in local • App to better manage business neighborhood for product of choice • Shop front for customer • Convenience of ‘master app’, acquisition in local markets look no further • Enhance trust online • Personalized door-step (via JD guarantee) service experience • Leverage existing hyper local • Real-time price discovery delivery network • Increased engagement and stickiness of users • Increase in monetization streams from SMEs • Natural extension of core search business 14
The Search Plus Model New Revenue Streams Near Term Areas of Focus Transaction fee User engagement JD Omni Vendor adoption and penetration Display ad revenue No. of listings in each segment Subscription fee from Vendors 15
JD Omni JD Omni enables businesses to be online and ecommerce ready with the ability to control everything from supply chain to customer management. Key features of Omni are: • Choose your own domain name • Transaction capable website with Payment gateway integration • Android/iOS App that customers can download • POS • Delivery tracker • Inventory management system • One click PO • Vendor management • Customer credits • Promotions • HR payroll • Accounting 16
JD Omni for Products 17
JD Omni for Services 18
Financial Overview
We have an Efficient and Profitable Business Model FY2011 FY2016 Paid Campaigns 120,200 3,68,800 Operating Revenue INR 1,839 MM INR 6,908 MM Operating EBIDTA INR 455 MM INR 1,958 MM* Operating EBIDTA Margin 25% 28%* PAT INR 289 MM INR 1,418 MM PAT Margin 15% 19% * Note: Operating EBIDTA for FY16 is adjusted for ESOP expenses and one time spends Quarter ended December 31, 2016 highlights: ► Total operating revenue: INR 1,803 MM ► Adjusted Operating EBITDA margin at 17%* ► PAT margin at 14% * Note: Adjusted Operating EBIDTA is after ESOP expenses of Rs. 4.1crore during the quarter Financials up to FY16 are based on Indian GAAP, and 3QFY17 based on Ind AS | Quarterly numbers are limited review, others are re-stated financials 20
Rapid Revenue Growth Key Business Model Attributes Operating Revenue INR Mn ► Paid Advertisers primarily across 11 large Indian cities (Contributes substantially to all of the company’s campaigns) ► Paid Advertisers pay fixed monthly or annual fees to run 8000 6908 search-led advertising campaigns for their businesses on Justdial’s platform 56 7000 5898 ► Various types of premium memberships: Platinum, Diamond, 15 6000 Gold and non-premium packages determine priority of placement in search results 4613 5000 – Get direct leads to consumers (actual buyers) 21 3628 – 4000 Paid in advance 51 6852 – 2621 Automatic renewal 3000 5883 27 ► Justdial also runs multiple city campaigns for pan-India 1803 1839 4592 1803 1662 2000 customers 43 13 3577 56 2594 ► 4,049 tele-sales executives and 1,440 feet on street selling to 1000 1796 1790 1747 1662 SMEs and 1,801 Just Dial Ambassadors (JDAs) 0 FY11 FY12 FY13 FY14 FY15 FY16 Q3FY16 Q2FY17 Q3FY17 Search Other Revenue Financials up to FY16 are based on Indian GAAP, while the quarterly numbers are based on Ind AS 21
Margin Expansion and Operating Leverage Key Expenses as a % of Operating Revenue Key Drivers ► More paid campaigns Adj. Op. EBIDTA Margins* 28% | 19% | 14% | 17% 100% ► Improved package pricings, increasing and 90% 6% upgrading contracts 6% 4% 5% 5% 80% 3% ► Deepen and broaden SME coverage 5% 4% 3% 4% 4% 3% 5% 5% 21% 4% 19% 70% 4% 4% 4% 20% ► New categories, new products and services 17% 18% 60% 19% 16% 18% 16% ► Increasing PC Internet and mobile internet 50% usage volume 40% 62% 62% 30% ► Increased brand awareness 58% 55% 52% 52% 51% 50% 50% 20% 10% 0% FY11 FY12 FY13 FY14 FY15 FY16 Q3FY16 Q2FY17 Q3FY17 * Note: Adj. Operating EBIDTA excludes ESOP expenses and one time spends Financials up to FY16 are based on Indian GAAP, while the quarterly numbers are based on Ind AS 22
Driving Profitability Growth Profit after Tax (PAT) INR Mn PAT MARGINS: 19% | 14% | 14% | 14% 1600 1418 1389 1400 1206 1200 1000 800 685 600 506 400 296 288 274 259 200 0 FY11 FY12 FY13 FY14 FY15 FY16 Q3FY16 Q2FY17 Q3FY17 Financials up to FY16 are based on Indian GAAP, while the quarterly numbers are based on Ind AS 23
Growing Cash Flows and Return on Capital Cash Flow from Operations Return on Net Worth (RoNW) INR Mn 2,000 60% 1,846 1,800 50% 50% 1,600 1,492 1,330 1,400 40% 36% 35% 1,200 1,023 957 1,000 30% 26% 25% 23% 800 21% 20% 600 600 359 400 10% 200 0% 0 FY10 FY11 FY12 FY13 FY 14 FY15 FY16 FY10 FY11 FY12 FY 13 FY 14 FY 15 FY16 24
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