Company Presentation August 2013 1
Untapped User Base
India: One of the Largest Consumer Economies India : 4th Largest Economy Globally India: 2nd Fastest Economic Growth GDP (PPP) : US$ 4.8 Tn GDP Growth Estimate (2013, %) GDP at Purchasing Power Parity in 2012 US$ Tn 9 18 8.0 15.7 15.6 7 12.4 5.7 12 5 3.4 3.0 3 6 1.9 4.8 4.5 1 2.5 -0.3 0 -1 United European China India Japan Russia China India Russia Brazil United European States Union States Union India is expected to become the world’s fifth largest consumer market by 2025 Source: The World Bank data, World Economic Outlook –International Monetary Fund, April 2013 3
India: Least Penetrated Internet/ Mobile Markets with Growth Potential India: 2 nd Largest Wireless Market Globally Low Internet Penetration Presents Further Upside Million Wireless Subscribers (1) Internet Penetration (%), As on June 30, 2012 1,200 100 1155 78 80 867 900 60 48 46 40 600 40 34 28 20 326 11 266 300 250 0 USA Russia Brazil China World Asia India No. of Internet 0 245 68 88 538 2,406 1,077 137 Users China India USA Brazil Russia (Million) Source: Internet World Stats, Regulator Websites and annual filings of public companies 4 1. Data as of April 30 2013 for India and China; as of June 30, 2013 for Brazil; as of September 30, 2012 for Russia and as of December 31, 2012 for USA
Business Overview
India’s Leading Local Search Engine ► We are India’s leading local search engine ► Approximately 364 million usages (1) in FY 13 from users as they are potentially making purchase decision ► We are a well established Indian local search brand ► Currently we have approximately 28 million ratings and reviews published on the website ► Over 16 years of operating history; efficient and profitable business model • Usage/search requests include search through voice/SMS and, PC and mobile internet visits 6
Justdial Everywhere: Connecting With Users Anytime, Anywhere PC Internet Mobile Internet Voice/SMS Over 18.8 million web visits per month (1) Over 6.5 million visits on mobile internet and 08888888888 Operator assisted Hotline apps per month (2) number across India User friendly features Location-based search service 24 hours a day, 7 days a week – Predictive auto-suggest Developed android and iPhone app and are Over 13 million voice searches (calls) per – Maps, directions, operating hours, month (3) in the process developing apps for logos, pictures, videos Windows 7 – Ratings and reviews Multi-lingual support Search by company or category Company and category searches Popular category searches 1. Based on 56.4 million visits for 3 months ending June 30, 2013; 18.8 million derived by dividing 56.4 million by 3 2. Based on 19.5 million visits for 3 months ending June 30, 2013; 6.5 million derived by dividing 19.5 million by 3 3. Based on 39.3 million visits for 3 months ending June 30, 2013; 13 million derived by dividing 39.3 million by 3 7
Easy Way for Local SMEs and Users to Connect Why Users Utilize Justdial Users Users ► Free ► Local ► Multi-platform access ► Updated Listings ► Fast ► Popular Categories ► Enhanced user experience ► Relevant to Users’ 364 Million 364 Million Everyday Activities (3) Million 9.5 9.5 (3) Million usage usage (1) Listings Listings (FY (FY 13 13) Why Businesses (2) Utilize Justdial Local Listings Local Listings Consumer Traffic Consumer Traffic ► Cost effective ► Market campaigns Local Local Businesses (2) (2) Businesses ► At the point of making the purchase decision ► Creates direct and personal relationships ► Strong branding Connecting Businesses (2) and Users 1. Usage/search requests, includes search through voice/SMS and PC and mobile internet visits 2. Businesses include SMEs and larger enterprises/businesses 3. As of June 30,2013 8
Relevant to Users’ Everyday Activities Automobile Beauty & Spa Car Rentals Education Local Finance Updated Listings Home Popular Categories Hotels Repairs Restaurants Taxis Travel Wedding More… 9
Provides Access to Millions of SMEs and User Reviews 1 Options to Specify Search 2 Paid Advertisers Prioritized in Search Results SMEs pay fees to run search-led advertising campaigns SMEs can choose 3 Contact and other details of SMEs from a variety of advertising packages 4 Click to get Contact Details by SMS/Email 5 Justdial Periodically Verifies - Helps to Ensure Accuracy of Information for Campaigns 6 Reviews and Ratings: User Generated Content 10
Helping Local Commerce Across India 11
India’s Leading Local Search Engine 30 mn 38 mn usage per usage per month (1) month (1) 400 364 Growth:43% 350 12% CAGR: 160% 300 254 5% 250 CAGR: 50% million 60% 181 200 2% 49% 133 150 115 1% 44% YoY Growth: 82 17% 36% 100 44% 2% 38% CAGR: 49% 34% 46% 50 28% 54% 55% 64% 34% 0 FY09 FY10 FY11 FY12 FY13 FY14 Q1 (2) (2) Mobile Internet PC Internet Voice / SMS PC and Mobile Internet Usage 1. Usage/search requests, includes search through voice/SMS and PC and mobile internet visits. 30 million is arrived at by dividing 364 by 12 and 38 million by dividing 115 by 3 12 2. Represents visits
User Community and Reviews Drive Engagement Reviews and Ratings Millions 30.0 26.5 25.0 22.4 19.8 20.0 14.5 15.0 10.0 5.0 2.7 0.0 'Jun-11 'Jul-12 'Dec-12 'Mar-13 'Jun-13 13
Engagement Driven Through Innovative Mobile Applications Justdial –Smart Phone Application With A Unique Social Interface Search Rate & Review Tag 14
New Products and Services Order Food Online Book Doctors Appointments (1) Book A Table (1) Order Grocery and Staple Purchases (1) 1. Under Development, Pictures for representation only 15
Track Record of Consistent Growth Total Usage (1) Paid Campaigns Million ‘000s 250 400 221 364 206 350 200 300 171 254 250 150 120 200 175 100 150 131 115 62 100 82 50 41 50 0 0 FY09 FY10 FY11 FY12 FY 13 Q1 FY 14 FY 09 FY 10 FY 11 FY 12 FY 13 Q1 FY14 1. Usage or search requests includes search through voice/SMS and, PC and mobile internet visits 16
Attractive Value Proposition for Local SMEs Total Business Listings Paid Campaigns Million ‘000 250 10.0 9.5 9.1 221 206 200 8.0 7.2 171 150 6.0 100 4.0 62 50 2.0 0 0.0 '31-Mar-10 31-Mar-12 31-Mar-13 30-Jun-13 31-Mar-12 31-Mar-13 30-Jun-13 17
Multiple Strategies for Growth 1 Total: 31 Total: 31.2 2 Million SMEs Million SMEs (1) 99 Doctor’s Appointm ent Broaden Enhance Further Develop New Geographic Grow SME User Strengthen Products & Reach Base Experience Brand Services Across India 1. Ministry of Small and Medium Enterprises Annual Report 2012 18
Experienced Management Team Sandipan Chattopadhyay V. S. S. Mani Chief Technology Officer Founder, Managing Director &CEO Years of Experience : 16 years in field Years of Experience : 25 years in the field of technology of media and local search services V. Krishnan Ramkumar Krishnamachari Chief Operating Officer Chief Financial Officer Years of Experience : 20 years in the field Years of Experience : 22 years in the of strategic planning and execution field of finance and accounting Koora Srinivas Shreos Roy Chowdhury Deputy Chief Financial Officer and Chief Technical Architect Senior Vice President Human Years of Experience : 16 years in the field Resources of technology Years of Experience : 13 years in the field of finance and accounting 19
Financial Overview
We Have an Efficient and Profitable Business Model ► Total Usage grew from 82 MM in FY2009 to 364 MM in FY2013 ► Paid Campaigns grew from 41,000 at FYE March 2009 to 206,500 at FYE March 2013 Growth ► Search Revenue grew from INR 735 MM in FY2009 to INR 3,627 MM in FY2013 ► Operating leverage driving margin expansion Profitability ► Net Income margin at 8% for FY2009 and 18% for FY2013 ► Continuity in subscriptions and cash flows ► Negligible receivables; no long term debt Efficiency ► Positive return metrics Quarter ended June 30, 2013 highlights: ► Total revenue: INR 1,119 MM (including search revenue: INR 1,046 MM and other revenue: INR 73 MM) ► Operating EBITDA margin at 35% for 3 months ending June 30, 2013 ► Net Income margin at 25% for 3 months ending June 30, 2013 21 Quarterly numbers are limited review, others are restated financials
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