Just Dial Limited — Earnings Release 2023

Apr 17, 2023

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April 17, 2023

BSE Limited National Stock Exchange of Metropolitan Stock Exchange Department of Corporate India Limited of India Limited Services Listing Department 205(A), 2[nd] Floor, Listing Department Exchange Plaza, Plot no. C/1, Piramal Agastya Corporate Park, P J Tower, Dalal Street, G Block, Bandra-Kurla Complex, L.B.S Road, Kurla (West), Mumbai - 400001 Bandra (East), Mumbai - 400051 Mumbai - 400070 Scrip Code: 535648 Scrip Symbol: JUSTDIAL Scrip Symbol: JUSTDIAL

Dear Sirs,

Sub: Press Release – Financial Results (Standalone and Consolidated) for the quarter and year ended March 31, 2023

Press Release of the Company in respect of Financial Results (Standalone and Consolidated) of the Company for the quarter and year ended March 31, 2023 is enclosed herewith.

The Financial Results (Standalone and Consolidated) for the fourth quarter and year ended March 31, 2023, approved by the Board of Directors and the Press Release thereon will also be available on the Company’s website www.justdial.com.

.

We request you to take the above on record.

Thanking you,

Yours truly,

For Just Dial Limited

MANAN Digitally signed by MANAN YOGENDRA YOGENDRA UDANI Date: 2023.04.17 23:29:58 UDANI +05'30' Manan Udani Company Secretary

Encl: As above

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Earnings Release

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JUST DIAL ANNOUNCES RESULTS FOR QUARTER ENDED MARCH 31, 2023

Mumbai, India, April 17, 2023 – Just Dial Limited (BSE: 535648, NSE: JUSTDIAL), India’s leading local search engine company, today announced its financial and operating results for its fourth fiscal quarter ending March 31, 2023. Following are the key highlights:

• ➢ 4Q-FY23 Revenue stood at ₹ 232.5 Crores, up 39.5% YoY and 5.0% QoQ

• ➢ Adjusted EBITDA Margin stood at 15.3%, improvement of 202 bps QoQ

• ➢ Net Profit for 4Q-FY23 stood at ₹ 83.8 Crores, up 278.4% YoY and 11.3% QoQ

• ➢ Traffic (Quarterly Unique Visitors) in 4Q-FY23 stood at 159.3 million users

• ➢ Active Paid Campaigns stood at 538,220 (up 16.6% YoY), addition of 16,340 campaigns QoQ

• ➢ Cash and Investments stood at ₹ 4,066.8 Crores as on March 31, 2023

Financial Highlights for Fiscal 2023 Fourth Quarter (4Q-FY23)

• Operating Revenue & EBITDA: Operating Revenue stood at ₹ 232.5 Crores, up 39.5% YoY (FY22 impacted due to COVID) & 5.0% QoQ. On per day basis, revenue growth stood at 7.4% QoQ. Adjusted Operating EBITDA, excluding ESOP expenses, stood at ₹ 35.6 Crores, up 21.0% QoQ. As highlighted in the past, the Company had ramped up hiring in previous few quarters which resulted in higher employee expenses in recent quarters. However, operating expenses growth remained controlled in 4Q FY23 and operating leverage benefits are playing out.

• Net Profit stood at ₹ 83.8 Crores (up 278.4% YoY, up 11.3% QoQ). Other Income stood at normalised level ₹ 74.2 Crores.

• Deferred Revenue stood at ₹ 438.2 Crores, up 8.9% QoQ and 29.6% YoY. Continued sequential growth in deferred revenue (led by 9.5% QoQ growth in Collections to ₹ 268.3 Crores) is encouraging.

• Cash and Investments stood at ₹ 4,066.8 Crores as on March 31, 2023 compared to ₹ 3,820.1 Crores as on March 31, 2022 and ₹ 3,934.4 Crores as on December 31, 2022.

Business Highlights for Fiscal 2023 Fourth Quarter (4Q-FY23)

• Total Traffic (Unique Visitors) for the quarter stood at 159.3 million, up 10.0% YoY and 1.6% QoQ. 86.1% traffic originated on Mobile platforms, 10.4% on Desktop/ PC and 3.4% on our Voice platform.

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Earnings Release

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• Total Active Listings stood at 36.5 million as on March 31, 2023, an increase of 14.4% YoY and 4.2% QoQ. 1,483,553 listings were added (net) to the database during the quarter. Out of total listings, 22.3 million listings were geocoded as on March 31, 2023, up 20.6% YoY. Total Images in listings stood at 139.2 million, up 18.3% YoY and up 5.6% QoQ.

• Total Ratings & Reviews stood at 143.0 million at the end of quarter, up 10.5% YoY.

• Active Paid Campaigns at the end of quarter stood at 538,220, up 16.6% YoY and 3.1% QoQ. Healthy paid campaigns addition of 16,340 for the quarter was led by continued focus on signing up majority of customers on monthly payment plans.

JUST DIAL LTD - 4Q FY23 (Quarter ended March 31, 2023) PERFORMANCE SUMMARY

JUST DIAL LTD - 4Q FY23(Quarter ended March 31, 2023) PERFORMANCE SUMMARY	JUST DIAL LTD - 4Q FY23(Quarter ended March 31, 2023) PERFORMANCE SUMMARY	JUST DIAL LTD - 4Q FY23(Quarter ended March 31, 2023) PERFORMANCE SUMMARY	JUST DIAL LTD - 4Q FY23(Quarter ended March 31, 2023) PERFORMANCE SUMMARY	JUST DIAL LTD - 4Q FY23(Quarter ended March 31, 2023) PERFORMANCE SUMMARY	JUST DIAL LTD - 4Q FY23(Quarter ended March 31, 2023) PERFORMANCE SUMMARY	JUST DIAL LTD - 4Q FY23(Quarter ended March 31, 2023) PERFORMANCE SUMMARY
Metric	Unit	4Q FY23	4Q FY22	YoY change	3Q FY23	QoQ change
Operating Revenue	(₹ million)	2,325	1,667	39.5%	2,214	5.0%
Operating EBITDA	(₹ million)	334	-60	n.a.	271	23.2%
Operating EBITDA Margin	%	14.4%	-3.6%	n.a.	12.2%	212 bps
Adjusted EBITDA (excl. ESOP expenses)	(₹ million)	356	-8	n.a.	294	21.0%
Adjusted EBITDA Margin (excl. ESOP expenses)	%	15.3%	-0.5%	n.a.	13.3%	202 bps
Other Income, net	(₹ million)	742	352	110.5%	713	4.1%
Profit Before Taxes	(₹ million)	960	206	365.9%	876	9.5%
Net Profit	(₹ million)	838	222	278.4%	753	11.3%
Net Profit Margin*	%	36.0%	13.3%	2275 bps	34.0%	204 bps
Deferred Revenue (period end)	(₹ million)	4,382	3,381	29.6%	4,024	8.9%
Cash & Investments (period end)	(₹ million)	40,668	38,201	6.5%	39,344	3.4%
Unique Visitors^	(million)	159.3	144.8	10.0%	156.8	1.6%
- Mobile	(million)	137.2	121.4	13.0%	134.0	2.4%
- Desktop/ PC	(million)	16.6	17.6	-5.5%	17.1	-3.1%
- Voice	(million)	5.5	5.8	-6.2%	5.6	-2.8%
- Mobile	% share	86.1%	83.8%	230 bps	85.5%	66 bps
- Desktop/ PC	% share	10.4%	12.1%	-171 bps	10.9%	-51 bps
- Voice	% share	3.4%	4.0%	-59 bps	3.6%	-16 bps
Total Listings (period end)	(million)	36.5	31.9	14.4%	35.0	4.2%
Net Listings Addition		1,483,553	524,816	182.7%	1,123,874	32.0%

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Earnings Release

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Total Images in Listings (period end)	(million)	139.2	117.7	18.3%	131.8	5.6%
Listings with Geocodes (period end)	(million)	22.3	18.5	20.6%	20.8	7.1%
Ratings & Reviews	(million)	143.0	129.4	10.5%	139.8	2.3%
Paid campaigns (period end)		538,220	461,495	16.6%	521,880	3.1%
Total App Downloads (period end)	(million)	33.1	30.7	7.9%	32.2	2.6%
- Android	(million)	29.2	27.0	8.2%	28.4	2.8%
- iOS	(million)	3.0	2.8	6.7%	2.9	1.6%
- Others	(million)	0.8	0.8	0.0%	0.8	0.0%
App Downloads per day		8,272	8,369	-1.2%	7,827	5.7%
Total Employees (period end)		15,320	13,343	14.8%	15,393	-0.5%
- Sales Employees (period end)		11,590	10,170	14.0%	11,947	-3.0%

JUST DIAL LTD - FY23 (Fiscal Year ended March 31, 2023) PERFORMANCE SUMMARY

JUST DIAL LTD - FY23 (Fiscal Year ended March 31, 2023) PERFORMANCE SUMMARY	JUST DIAL LTD - FY23 (Fiscal Year ended March 31, 2023) PERFORMANCE SUMMARY	JUST DIAL LTD - FY23 (Fiscal Year ended March 31, 2023) PERFORMANCE SUMMARY	JUST DIAL LTD - FY23 (Fiscal Year ended March 31, 2023) PERFORMANCE SUMMARY	JUST DIAL LTD - FY23 (Fiscal Year ended March 31, 2023) PERFORMANCE SUMMARY	JUST DIAL LTD - FY23 (Fiscal Year ended March 31, 2023) PERFORMANCE SUMMARY
Metric	Unit	FY23	FY22	YoY change	YoY change%
Operating Revenue	(₹ million)	8,448	6,470	1,978	30.6%
Operating EBITDA	(₹ million)	860	(21)	n.a.	n.a.
Operating EBITDA Margin	%	10.2%	-0.3%		n.a.
Adjusted EBITDA (excl. ESOP expenses)	(₹ million)	955	196	759	386.4%
Adjusted EBITDA Margin (excl. ESOP expenses)	%	11.3%	3.0%		827 bps
Other Income, net	(₹ million)	1,419	1,222	197	16.2%
Profit Before Taxes	(₹ million)	1,880	834	1,046	125.4%
Net Profit	(₹ million)	1,629	710	920	129.6%
Net Profit Margin*	%	19.3%	11.0%		832 bps
Deferred Revenue (period end)	(₹ million)	4,382	3,381	1,001	29.6%
Cash & Investments (period end)	(₹ million)	40,668	38,201	2,468	6.5%

^ Unique visitors are aggregated across various mediums – Voice, Desktop/ PC, Mobile; these may not necessarily be mutually exclusive.

• Net Profit Margin is calculated as Net Profit (Profit After Taxes) as a percentage of Operating Revenue for the quarter.

About Just Dial Limited

Just Dial Limited provides local search related services to users in India through multiple platforms such as Desktop/ PC website (https://www.justdial.com), mobile site (https://t.justdial.com), mobile apps (Android & iOS), over the telephone

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Earnings Release

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(Voice, pan India number 88888-88888) and text (SMS). Justdial’s latest version of JD App, is an All-in-One App, replete with features like Map-aided Search, Live TV, Videos, Stock quotes, etc to make the life of the consumer infinitely smoother & more engaging.

The Company has launched its B2B marketplace platform, JD Mart. JD Mart platform, available at https://www.jdmart.com and via apps on Play Store and App Store, is aimed at enabling millions of India’s manufacturers, distributors, wholesalers, retailers to become internet-ready in post-COVID era, get new customers and sell their products online. The platform offers digital product catalogues to businesses and aims at digitalising India’s businesses, especially MSMEs, across categories. Buyers can discover quality vendors offering a wide selection of products to choose from, spread across millions of categories to suit all B2B needs.

Justdial has also initiated transaction-oriented services for its users. These services aim at making several day-to-day tasks conveniently actionable and accessible to users from one App. With this step, Justdial is transitioning from being purely a provider of local search and related information to being a direct/ indirect enabler of such transactions. Justdial has also recently launched an end-to-end business management solution for SMEs, through which it intends to transition thousands of SMEs to efficiently run business online and have their adequate online presence via their own website, mobile site. Apart from this, Justdial has also launched JD Pay, a unique solution for quick digital payments for its users and vendors.

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