Info Edge(India) Ltd. — Investor Presentation 2020

Jun 3, 2020

June 3, 2020

1. The Manager- Listing National Stock Exchange of India Limited

(Scrip Code: NAUKRI)

2. The Manager- Listing BSE Limited (Scrip Code: 532777)

– Sub.: Advisory on disclosure of material impact of CoVID 19 pandemic on listed entities under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015-Re.

Dear Sir ,

This is with reference to SEBI Circular no. SEBI/HO/CFD/CMD1/CIR/P/2020/84 dated May 20, 2020 and in continuation to our letter dated March 24, 2020 advising temporary closure of Company's operations due to outbreak of Covid-19.

Pursuant to Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 (LODR), attached herewith please find the Covid-19 Impact presentation duly updated for the disclosures parameters specified by SEBI in aforesaid Circular about the material impact of Covid–19 pandemic on the Company.

The same has also been updated on the website of the Company at the following link: - - http://infoedge.in/ir corporate presentations.asp

Request you to take the same on record.

Thanking you,

Yours faithfully, For Info Edge (India) Ltd.

Chintan Thakkar Whole-time Director & CFO

Info Edge (India) Limited

Disclosure of material impact of COVID–19 pandemic under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 in accordance with SEBI circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/84 dated May 20, 2020.

June 3, 2020

INFO EDGE (INDIA) LTD

• This document is meant for disclosure of material impact of the COVID–19 pandemic under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the ‘LODR Regulations’/‘LODR’) in accordance with the SEBI circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/84 dated May 20, 2020.

• Since the outburst of COVID-19, the adverse impact of this global pandemic has varied from industry to industry, and moreover, entity to entity. The effect depends upon the nature and extent of business connectivity of the entities with the geographies and customer/consumer segments more seriously affected by this pandemic.

• In view of the limited information available and uncertainties associated with the spread of the pandemic (and the likely timing of when it will dissipate or be cured), it is difficult to accurately estimate its likely impact at this stage; however, our management will continue to closely monitor the material changes associated with the current circumstances and will apprise all stakeholders, as appropriate.

• This document contains reference to various operational matrices pertaining to Q4, FY’20 and April 2020, which are utilised by our management to conduct a meaningful assessment of overall COVID impact on our business, operations and other key performance parameters. These matrices are unaudited and supplemental in nature, and are neither required by, nor presented in accordance with, Ind AS. The management will publish our audited financials and operational data, as and when it becomes available, in line with past practice and applicable guidelines.

• The management, in compliance with its obligations to keep key stakeholders informed during such unprecedented times, undertakes to disseminate relevant information through various communication channels periodically.

Disclaimer

This presentation has been prepared by Info Edge (India) Limited (the “ Company ”) solely for information purposes without any regard to any specific objectives, financial situations or information needs of any particular person and does not constitute a recommendation regarding the securities of the Company.

This presentation contains certain statements that are or may be forward-looking statements. These statements include descriptions regarding the intent, belief or current expectations of the Company or its directors and officers with respect to the results of operations and financial condition of the Company. These statements can be recognized by the use of words such as “expects,” “plans,” “will,” “estimates,” “projects,” or other words of similar meaning. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in such forward-looking statements as a result of various factors and assumptions which the Company believes to be reasonable in light of its operating experience in recent years. The risks and uncertainties relating to these statements include, but not limited to, risks and uncertainties, regarding fluctuations in earnings, our ability to manage growth and competition, among others. The Company does not undertake any obligation to revise or update any forward-looking statement that may be made from time to time by or on behalf of the Company. Any investment in securities issued by the Company will also involve certain risks. There may be additional material risks that are currently not considered to be material or of which the Company, and its advisers or representatives are unaware. Against the background of these risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward-looking statements. The Company and its advisers or representatives assume no responsibility to update forward-looking statements or to adapt them to future events or developments. Accordingly, any reliance you place on such forward-looking statements will be at your sole risk.

The information contained in this presentation has not been independently verified. The information in this presentation is in summary form and does not purport to be complete. No representation, warranty, guarantee or undertaking, express or implied, is or will be made as to, and no reliance should be placed on, the accuracy, completeness, correctness or fairness of the information, estimates, projections and opinions contained in this presentation. Potential investors must make their own assessment of the relevance, accuracy and adequacy of the information contained in this presentation and must make such independent investigation as they may consider necessary or appropriate for such purpose. Such information and opinions are in all events not current after the date of this presentation. Further, past performance of the Company is not necessarily indicative of its future results. Any opinions expressed in this presentation are subject to change without notice. This presentation should not be construed as legal, tax, investment or other advice. Neither the Company or its promoters, nor any of their respective advisers or representatives shall have any responsibility or liability whatsoever (for negligence or otherwise) for any loss howsoever arising from this presentation or its contents or otherwise arising in connection therewith. The information set out herein may be subject to updating, completion, revision, verification and amendment and such information may change materially. Neither the Company or its promoters nor any of their respective advisers or representatives is under any obligation to update or keep current the information contained herein.

This presentation does not constitute or form part of and should not be construed as, directly or indirectly, any advertisement, offer or invitation or inducement to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of the Company by any person whether by way of private placement or to the public, in any jurisdiction, including in India, the United States, Australia, Canada or Japan, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any investment decision or any contract or commitment therefor. This presentation is not a prospectus, a statement in lieu of a prospectus, an offering circular, an advertisement or an offer document under the Companies Act, 2013, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, each as amended, or any other applicable law in India. Investing in securities involves certain risks and potential investors should note that the value of the securities may go down or up. Accordingly, potential investors should obtain and must conduct their own investigation and analysis of the relevant information carefully before investing.

This presentation contains the Company’s unaudited financial information as at and for the financial year ending March 31, 2020 and as at and for the month ended April 30, 2020. Investors should be aware that such financial information may be subject to certain adjustments during the course of audit/review and the audited/reviewed financial statements of the Company, when announced, may differ from those contained in this presentation.

In this presentation:

• All figures mentioned are for the Company as a standalone entity and are as of March 31, 2020 or for the quarter ended March 31, 2020, unless indicated otherwise.

• Q4 FY20 or Q4 FY19-20 means the period commencing on Jan 01, 2020 and ending on March 31, 2020.

• FY20 or FY 19-20 or FY 2020 means the Financial Year starting April 1, 2019 and ending March 31, 2020.

• 1 Crore = 10 Million = 100 Lakh.

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COVID-19: The Impact and the Response so far….

Steps taken to ensure smooth functioning of operations

• We moved to “work from home” model by mid-March before the lockdown was announced in India

• We believe the health, safety and well-being of employees are paramount. The Company stays committed to pay special attention to, and invest in health of, its employees and related safety initiatives

• Our HR Business Partners and Team Facilities are in constant touch with all the employees to provide support, as required. Various webinars are being held to engage and help employees stay strong and optimistic

Business continuity and ability to maintain operations

• All key processes such as billings, collections, vendor payments, payroll, servicing customers continue to run effectively in “work from home” environment

• Our websites, digital platforms and customer-facing apps have been running smoothly

• The internal control and financial reporting environment has been maintained effectively

• Our offices are prepared to be in a ready-to-move position as we continue to monitor the evolving situation

4

COVID-19: The Impact and the Response so far….

Impact on operating business and estimation of future impact on operations

• Different segments in the core operating businesses may experience a different level of stress in the business due to disruption and the rebound of normalcy would evolve over time

• B2B markets are more indexed to global and domestic economy, and particularly the job market and the property markets

• B2C market for businesses such as “Jeevansathi” are expected to be relatively less impacted

• As a response to the current disruption caused by the health crisis, businesses are expected to become more digital than ever before. We therefore intend to continue to invest in technology and innovation for long-term value creation

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COVID-19: The Impact and the Response so far….

Impact on operating business and estimation of future impact on operations (Cont’d)

• With most of our vendors continuing to service the provision of essential goods and services during the lockdown period, we did not face any disruption from supply chain or a technology continuity standpoint

• The level of our services to our customers has been managed through effective business continuity plans with least disruption

• There have been a few and sporadic requests from customers for the extension of the subscription period. The impact of such requests received so far is not considered material

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COVID-19: The Impact and the Response so far….

Q4 and Apr Collections and COVID-19 Impact – Naukri (India) Sales BU

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----- Start of picture text -----

Cumulative Q4 + April trend April YoY -54% YoY as
lockdown extends
300
Post lockdowns and spreading
275 of virus, QTD growth slowed
down to 0% YoY on 28 [th] March
250
225 QTD growth at ~+13% YoY
200 around mid March, and
started to slow down
+14% YoY Feb end
175
150
125
100
75
50
25
0
1-Jan 8-Jan 15-Jan 22-Jan 29-Jan 5-Feb 12-Feb 19-Feb 26-Feb 4-Mar 11-Mar 18-Mar 25-Mar 1-Apr 8-Apr 15-Apr 22-Apr 29-Apr
FY20 FY19
COLLECTION (IN CRS)
----- End of picture text -----

• Naukri (India) collections were growing in Q4 at around 13% until mid March

• Naukri (India) had a decline of collection by INR 14 Cr in Q4’20 YOY and INR 26 Cr in April’20 YOY

• For Q4’20 , Pre- Covid - 19 growth was 13%, the lockdown had slowed down the growth to 0%, leading to a shortfall of collection of INR 40-44 Cr (had the business grew at Pre Covid Growth rate for the whole Qtr) .

Unaudited, subject to adjustments in the course of audit.

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COVID-19: The Impact and the Response so far….

Q4 and Apr Collections and COVID-19 Impact – 99acres

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----- Start of picture text -----

Cumulative Q4 + April trend
90 April YoY -86% YoY as
lockdown extends
Post lockdowns and spreading
80 of virus, QTD growth slowed
down to 0% YoY on 26 [th] March
70
QTD growth at ~+13% YoY
60 around mid March, and
started to slow down
50 +15% YoY Feb end
40
30
20
10
0
1/Jan 8/Jan 15/Jan 22/Jan 29/Jan 5/Feb 12/Feb 19/Feb 26/Feb 4/Mar 11/Mar 18/Mar 25/Mar 1/Apr 8/Apr 15/Apr 22/Apr 29/Apr
FY20 FY19
COLLECTION (IN CRS)
----- End of picture text -----

• 99acres collections were growing in Q4 at around 13% until mid March

• 99acres had a decline of collection by INR 18 Cr in Q4’20 YOY and INR 9 Cr in April’20 YOY

• For Q4’20 Pre - Covid-19 growth was 13% , the lockdown had slowed down the growth to 0%, leading to a shortfall of collection of INR 25-30 cr (had the business grew at Pre Covid Growth rate for the whole Qtr).

Unaudited, subject to adjustments in the course of audit.

8

COVID-19: The Impact and the Response so far….

Q4 and Apr Collections and COVID-19 Impact – Jeevansathi.com

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----- Start of picture text -----

Cumulative Q4 + April trend April YoY grew at a
modest rate of +11%
35 Post lockdowns and spreading of YoY, as lockdown
virus, QTD growth slowed down extends
slightly to 20% YoY at end of March
30 QTD growth at ~+26% YoY
around mid March, and
started to slow down
25
+27% YoY Feb end
20
15
10
5
0
1-Jan 8-Jan 15-Jan 22-Jan 29-Jan 5-Feb 12-Feb 19-Feb 26-Feb 4-Mar 11-Mar 18-Mar 25-Mar 1-Apr 8-Apr 15-Apr 22-Apr 29-Apr
FY20 FY19
COLLECTION (IN CRS)
----- End of picture text -----

• Jeevansathi collections were growing in Q4 at around 26% until mid March

• JS collections grew around INR 4 Cr in Q4’20 and INR 1 Cr in April’20

• For Q4, Covid-19 and related lockdown slowed down the growth slightly for Q4 to end +20% YoY; the lockdown had a nominal impact on growth rate of JS for the Qtr.

Unaudited, subject to adjustments in the course of audit.

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Key Operating Business Metrics for Naukri (India) and 99acres for FY’20

• Naukri (India)

• No. of unique customers are ~93k and average billing of ~INR 80K

• 99acres

• Total projects 1,70,633 + (under construction or ready-to-move-in)

• Total listings 9,41,850 (including 4,21,384 owner listings)

  • Residential 7,86,067

  • Commercial 1,55,783

• For FY’20, # of paying Brokers and Developers are ~21.6K and 5K, respectively, with billing split of 42% and 52%, respectively

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All numbers in Rs. Cr except %

Key Financials - Quarterly Update

Description	Q4’20 #	Q4’19	YOY	Q3’20	Apr’20#
Billing
Info Edge*	331.9	360.8	(8.0)%	299.9	40.8
- Recruitment	244.0	259.8	(6.0)%	210.0	31.1
- 99Acres	50.7	66.7	(24.0)%	54.3	1.0
- JS	23.8	19.8	20.4%	22.4	7.2
- Shiksha	13.4	14.6	(8.5)%	13.3	1.5
Revenue
Info Edge*	322.8	292.7	10.3%	320.5	90.4
- Recruitment	230.6	207.4	11.2%	230.3	64.4
- 99Acres	56.4	54.4	3.6%	58.2	15.6
- JS	22.7	18.1	25.3%	21.4	5.7
- Shiksha	13.2	12.8	2.8%	10.7	4.3
Operating EBITDA %
Info Edge*	28%	31.1%		31%
- Recruitment	56%	53%		57%

* Info Edge standalone financials. Segmental data for Naukri and 99acres

Above EBITDA numbers for FY 19-20 have been readjusted for IND AS 116 to ensure comparison with FY 2018-19 numbers. Accordingly, it may differ from reported numbers to that extent. # Unaudited, subject to adjustments in the course of audit.

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Key Financials - Past 7 years Performance

All numbers in Rs. Cr except %

Description	FY 14	FY 15	FY 16	FY 17	FY 18	FY19	FY 20#	CAGR
Revenues	505	611	717	802	916	1098	1273	16.8%
Billing	524	653	753	861	977	1177	1269	16.0%
Operating EBITDA*^	164	180	159	254	315	356	403	16.1%
Operating Margin (%)^	32%	29%	22%	32%	34%	32%	32%
Operating PBT ^	147	162	137	203	276	321	355	16.0%
Cash and Bank Bal##	478	1,172	1,114	1,309	1,500	1550	1551
Investments in Startups**	336	692	766	732	778	1037	1108
Head Count ( Nos)	3,016	3,826	4,214	3,999	4,036	4330	4697

*IND-AS numbers for FY16-FY20; EBITDA for FY16-FY20 adjusted for non-cash charges.

** This amount represents net investment in investee companies.

Unaudited, subject to adjustments in the course of audit.

^ Operating EBITDA/ Margin / PBT excludes the impact of other income, non-operating income and exceptional items.

# Balance at group level and the same includes balances irrespective of duration of FD, including >1 Yr and doesn’t include “Accrued Interest”

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COVID-19: The impact and the Response so far….

Liquidity, Investments and Cost Structure

• and Financial Resources: In a business environment due to the we

• Capital challenging global pandemic, believe in conserving our resources, accordingly we have restrained our discretionary spends and at the same time we are preserving the long-term value of assets. This includes key tangible and intangible assets such as brand, people, platform, IP, network effect, technology innovation, etc.

• Service Debt: We are a zero-debt with

• Ability to company, a negative working capital cycle in a “businessas-usual” environment

• Liquidity Position: We have cash and cash equivalents of approximately USD 200 mn at an overall IE group level (includes WoS, AIF and ESOP Trust). We are well positioned to fulfil our existing contractual obligations

• Assets: We own sizeable investments in start-ups and other companies, which can potentially be monetized under certain circumstances and we also to raise from may explore options equity capital

• external investors for our investment activities.

13

COVID-19: The impact and the Response so far….

Liquidity, Investments and Cost Structure

• Our fixed and committed costs for FY’20 were approximately in the range of Rs. 600 Cr. This includes fixed salary, facilities and technology running expenses

• We believe there would be more to invest in certain areas of our core opportunities strategic operating

• business and other areas of This could include M&A activities and stakes in certain areas expansion. strategic

• of interest

• We see growth opportunities through investments in technology-oriented and innovation-oriented start-ups.

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Bank and Debt Market Investments

As on 31[st] March’20[#]

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IEIL WOS ESOP Trust AIF Total
Bank/ FDR 1043 136 22 114 1315
MF – Liquid 255 255
Scheme
Total 1298 136 22 114 1570
[[th]] April’20 [[#]]
IEIL WOS ESOP trust AIF Total
Bank /FDR 1260 134 22 114 1530
-
MF – Liquid
Scheme
Total 1260 134 22 114 1530
----- End of picture text -----

As on 30[[th]] April’20[[#]]

# Unaudited, subject to rounding-off and other adjustments; Balance as per books and includes accrued interest.

15

IE Venture Fund I - AIF

• Floated an AIF Class II Fund on 9[th] Jan’20, duly registered by SEBI, to fund investments unrelated to the core operating entity

• An efficient set-up for future fund raising and from regulatory standpoint

• Proposed corpus of the fund is Rs. 750 Cr (around USD 100 Mn). IEIL and its WOS in their capacity as LP, committed Rs. 350 Cr and has already disbursed Rs 150 Cr out of that, until now

• Investments through the fund

• Dotpe Pvt Ltd – ~Rs. 10.4 Cr

• Qyuki Digital Media Pvt Ltd – ~Rs. 25.2 Cr

• Intellihealth Solutions Pvt Ltd – ~Rs. 3.7 Cr

• Fanbuff Esports India Pvt Ltd – ~Rs. 3.5 Cr

• Pipeline of non-binding signed term sheet for around ~ Rs. 85 Cr

• We are in exploratory talks for raising of USD 50 Mn from LPs outside IEIL group [#]

• WOS of IEIL is the GP to this fund

# There can be no assurance that we would be able to complete this transaction on expected commercial terms, or at all

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