Company Presentation March 2017 1 Business Overview Company - PowerPoint PPT Presentation

Company Presentation March 2017 1

Business Overview

Company Overview India’s only Search Plus engine (Search & Transact) 86.8mn unique visitors in Q4FY17 (1) Multi platform search engine 70.5mn reviews and ratings (2) 17.9mn total business listings (2) 4,35,360 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 March, 2017 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 80.0 70.5 67.9 70.0 64.8 62.6 60.6 58.3 60.0 55.3 53.1 51.0 48.4 50.0 45.1 41.3 40.0 37.1 30.0 20.0 10.0 0.0 Mar-14 Sep-14 Mar-15 Sep-15 Mar-16 Sep-16 Mar-17 Special focus on Friend’s Reviews & Ratings 5

Unique Visitors in million 100 86.8 90 80.6 76.6 80 75.8 75.9 75.2 71.5 71.3 70 52.2 60 36.3 37.6 46.8 38.9 41.5 36.6 36.8 50 40 11.3 10.9 10.3 30 9.9 9.0 9.7 10.6 9.5 20 27.6 27.3 26.7 25.6 25.2 24.3 24.8 24.3 10 0 Q1 FY16 Q2 FY16 Q3 FY16 Q4 FY16 Q1 FY17 Q2 FY17 Q3 FY17 Q4 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 20 500 17.9 18 435 450 15.0 16 400 15 369 14 350 331 11.8 12 300 262 10 250 9.1 206 8 200 7.2 171 6 150 4 100 2 50 0 0 FY12 FY13 FY14 FY15 FY16 FY17 FY12 FY13 FY14 FY15 FY16 FY17 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

Products and Services – Search Plus Hail a Cab Shop Online Order Grocery Options of Wallets for Payment 11

Products and Services – Search Plus Book Train Tickets Bills & Recharge Book Flight Tickets Book Movie Tickets 12

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 13

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 #JD Omni is being revamped and will be launched soon 14

Financial Overview

We have an Efficient and Profitable Business Model FY2011 FY2017 Paid Campaigns 120,200 4,35,360 Operating Revenue INR 1,839 MM INR 7,186 MM Operating EBIDTA INR 455 MM INR 1,255 MM* Operating EBIDTA Margin 25% 17%* PAT INR 289 MM INR 1,213 MM PAT Margin 15% 15% * Note: Operating EBIDTA for FY17 is adjusted for ESOP expenses and one time spends Quarter ended March 31, 2017 highlights: ► Total operating revenue: INR 1,817 MM ► Adjusted Operating EBITDA margin at 20%* ► PAT margin at 13% * Note: Adjusted Operating EBIDTA is after ESOP expenses of Rs. 3.7crore during the quarter 4QFY17 and FY17 financials are based on IndAS while FY11 is based on Indian GAAP 16

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 16000 search-led advertising campaigns for their businesses on Justdial’s platform 14000 ► Various types of premium memberships: Platinum, Diamond, 12000 Gold and non-premium packages determine priority of placement in search results 10000 – Get direct leads to consumers (actual buyers) – 7186 8000 Paid in advance 6677 5898 214 125 – Automatic renewal 6000 15 4613 ► Justdial also runs multiple city campaigns for pan-India 3628 21 4000 2621 customers 51 6972 6551 5883 1817 1803 27 1716 ► 4,350 tele-sales executives and 1,484 feet on street selling to 4592 2000 3577 28 17 47 SMEs and 2,055 Just Dial Ambassadors (JDAs) 2594 1774 1800 1669 0 FY12 FY13 FY14 FY15 FY16 FY17 Q4FY16 Q3FY17 Q4FY17 Search Other Revenue Total Financials up to FY15 are based on Indian GAAP, while FY16 onwards are based on Ind AS 17

Margin Expansion and Operating Leverage Key Expenses as a % of Operating Revenue Key Drivers ► More paid campaigns Adj. Op. EBIDTA Margins* 17% | 22% | 17% | 20% 100% ► Improved package pricings, increasing and 90% upgrading contracts 6% 6% 6% 5% 4% 5% 5% 80% 4% ► Deepen and broaden SME coverage 4% 3% 3% 4% 4% 5% 4% 19% 19% 70% 4% 4% 18% 4% 18% 18% ► New categories, new products and services 60% 19% 16% 18% 16% ► Increasing PC Internet and mobile internet 50% usage volume 40% 62% 61% 30% ► Increased brand awareness 60% 58% 57% 52% 51% 50% 50% 20% 10% 0% FY12 FY13 FY14 FY15 FY16 FY17 Q4FY16 Q3FY17 Q4FY17 * Note: Adj. Operating EBIDTA excludes ESOP expenses and one time spends Financials up to FY15 are based on Indian GAAP, while FY16 onwards are based on Ind AS 18

Driving Profitability Growth Profit after Tax (PAT) INR Mn PAT MARGINS: 15% | 20% | 14% | 13% 1600 1427 1389 1400 1213 1206 1200 1000 800 685 600 506 403 400 274 254 200 0 FY12 FY13 FY14 FY15 FY16 FY17 Q4FY16 Q3FY17 Q4FY17 Financials up to FY15 are based on Indian GAAP, while FY16 onwards are based on Ind AS 19

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 20

Transition to Ind AS from Indian GAAP (IGAAP) S No. Particulars (in INR lacs) Year ended March 31, 2016 I GAAP Effect of Transition Ind AS to Ind AS 1 Income from operations Revenue from operations 69,083 (2,317) 66,766 Total Income from operations 69,083 (2,317) 66,766 2 Expenses a) Employee benefits expense 37,741 253 37,994 b) Depreciation and amortisation expense 3,110 - 3,110 c) Other expenses 14,288 65 14,353 Total expenses 55,139 318 55,457 3 Profit from operations before other income and finance costs (1-2) 13,944 (2,635) 11,309 4 Other income 5,849 2,154 8,003 5 Profit from operations before finance costs (3+4) 19,793 (481) 19,312 6 Finance costs - - - 7 Profit from ordinary activities before tax (5-6) 19,793 (481) 19,312 8 Tax expense (net) 5,613 (574) 5,039 9 Net Profit for the period (7-8) 14,180 94 14,274 10 Other comprehensive income - 110 110 11 Total comprehensive income (9+10) 14,180 204 14,384 21

Key Strengths First Mover Advantage in the Indian Local Search Market Strong Brand Recognition Attractive Value Proposition For Local SMEs Experience and Expertise in Local Indian Markets Advanced and Scalable Technology Platform An Efficient and Profitable Business Model 22