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

Company Presentation June 2017 1

Business Overview

Company Overview India’s only Search Plus engine (Search & Transact) 100.5mn unique visitors in Q1FY18 (1) Multi platform search engine 73.1mn reviews and ratings (2) 18.8mn total business listings (2) 4,35,980 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 30 June, 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 & Ratings (In Mn) 80 73.1 70.5 70 67.9 64.8 62.6 60.6 58.3 60 55.3 53.1 51 48.4 50 45.1 41.3 40 37.1 30 20 10 0 Mar-14 Jun-14 Sep-14 Dec-14 Mar-15 Jun-15 Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 5

Unique Visitors in million 120 100.5 100 86.8 80.5 76.6 75.9 75.9 75.2 80 71.5 71.3 62.7 52.2 60 36.3 37.6 46.8 38.9 41.5 36.6 36.8 40 11.3 10.9 9.9 10.3 9.9 9.7 9.0 10.6 9.5 20 28.0 27.6 27.3 26.7 25.2 25.6 24.3 24.8 24.3 0 Q1 FY16 Q2 FY16 Q3 FY16 Q4 FY16 Q1 FY17 Q2 FY17 Q3 FY17 Q4 FY17 Q1 FY18 Web Voice Mobile 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 500 20 18.8 436 17.9 450 435 18 16.3 400 16 369 15.1 350 331 14 11.8 300 12 262 250 10 9.1 206 200 8 7.2 171 150 6 4 100 2 50 0 0 FY12 FY13 FY14 FY15 FY16 FY17 Q1FY18 FY12 FY13 FY14 FY15 FY16 FY17 Q1FY18 Note: Numbers mentioned in graphs above are period ending numbers 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 FY2015 FY2016 FY2017 Q1FY18 Paid Campaigns 331,200 368,800 435,360 435,980 Operating Revenue INR 5,898 MM INR 6,677 MM INR 7,186 MM INR 1,900 MM Adjusted Operating EBIDTA INR 1,840 MM INR 1,706 MM INR 1,255 MM INR 373 MM Adjusted Operating EBIDTA MARGINS 31.2%* 25.6%* 17.5%* 19.6%* PAT INR 1,389 MM INR 1,427 MM INR 1,213 MM INR 382 MM PAT Margin 21.7% 19.1% 15.1% 17.6% Quarter ended June 30, 2017 highlights: ► Total operating revenue: INR 1,900 MM ► Adjusted Operating EBITDA margin at 19.6%* ► PAT margin at 17.6% * Note: Adjusted Operating EBIDTA is adjusted for ESOP expenses and one time expenses Financials up to FY15 are based on Indian GAAP, while FY16 onwards are based on Ind AS 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) 8000 7186 ► Paid Advertisers pay fixed monthly or annual fees to run 6677 7000 search-led advertising campaigns for their businesses on Justdial’s platform 5898 6000 ► Various types of premium memberships: Platinum, Diamond, 4613 Gold and non-premium packages determine priority of 5000 placement in search results 3628 4000 – 7051 Get direct leads to consumers (actual buyers) 6667 2621 3000 5898 – Paid in advance 1900 1839 4613 1817 1763 2000 – 3628 Automatic renewal 2621 1000 ► Justdial also runs multiple city campaigns for pan-India 1897 1839 1699 1814 customers 0 FY11 FY12 FY13 FY14 FY15 FY16 FY17 Q1 Q4 Q1 ► 4,026 tele-sales executives and 1,427 feet on street selling FY17 FY17 FY18 to SMEs and 2,308 Just Dial Ambassadors (JDAs) Other revenue Search 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 Adj. Op. EBIDTA Margins* ► More paid campaigns 17.5% | 19.6% | 19.7% | 19.6% 100% ► Improved package pricings, increasing and 90% upgrading contracts 6% 5% 5% 6% 5% 80% 4% 3% ► Deepen and broaden SME coverage 4% 4% 22% 23% 4% 22% 70% 27% 21% 23% ► New categories, new products and services 24% 20% 22% 60% 20% ► Increasing PC Internet and mobile internet 50% usage volume 40% ► Increased brand awareness 62% 61% 30% 60% 57% 56% 52% 52% 51% 50% 50% 20% 10% 0% FY11 FY12 FY13 FY14 FY15 FY16 FY17 Q1FY 17 Q4FY 17 Q1FY 18 Personnel other OPEX Depreciation * 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: 15.1% | 19.0% | 13.0% | 17.6% 1600 1427 1389 1400 1213 1206 1200 1000 800 685 600 506 389 382 400 288 254 200 0 2011 2012 2013 2014 2015 2016 2017 Q1FY 17 Q4FY 17 Q1FY 18 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 60% 2,000 1846 1,800 50% 50% 1,600 1479 1362 1,400 1330 40% 36% 1,200 1023 957 30% 1,000 26% 25% 22% 800 19% 20% 600 600 15% 400 10% 200 0 0% FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 FY 17 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 FY 17 20

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 21