Just Dial Limited — Interim / Quarterly Report 2022

Jul 16, 2021

July 16,2021

To

BSE Limited	National Stock Exchange	Metropolitan Stock Exchange
Department of Corporate Services	of lndia Limited	of lndia Limited
Listing Department	Listing Department	4th Floor, Vibgyor Towers,
P J Towers,	Exchange Plaza,	Plot No. C 62,
Dalal Street,	Plot no. C/1 , G Block,	G Block, Opp. Trident Hotel,
Mumbai - 400001	Bandra-Kurla Complex,	Bandra Kurla Complex,
Scrip Code: 535648	Bandra (East),	Bandra (East),
	Mumbai - 400051	Mumbai - 400098
	Scrip Symbol: JUSTDIAL	Scrip Symbol: JUSTDIAL

Dear Sir/Madam,

Sub.: Press Release

ln accordance with Regulation 30 of the Securities and Exchange Board of lndia (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith Press Release of the Company in respect of Unaudited Financial Results of the Company for the l"tquarter ended June 30, 2021.

We request you to take the same on record.

Thanking You,

Yours truly,

For Just Dial Limited

I$a:&*

Manan Udani Company Secretary

Encl: As above

Just Diol Limited

CIN NO: L74l40MH l993PtC I50054

Reglsle€d & CoPoote Ofilce : Polm Coud Building M, 50118, 5lh Floor, New link Rood, Besides coregoon Sports Comple& Molod Wesl, Mumboi - 400064 Iel. :022-28884O6O / 39808795 o Fox: 022-28893789

Mumboi, Delhi, Kolkolo, Chennoi, Bongolore, Pune, Hyderobod, Ahmedobod, Coimbotore, Joipur ond chondigorh

f88888-88888 wwwjustdial.com

JUST DIAL ANNOUNCES RESULTS FOR QUARTER ENDED JUNE 30, 2021

Mumbai, India, July 16, 2021 – Just Dial Limited (BSE: 535648, NSE: JUSTDIAL), India's leading local search engine company, today announced its financial and operating results for its first fiscal quarter ending June 30, 2021 and strategic partnership with Reliance Retail Ventures Ltd. Following are the key highlights:

• ➢ Reliance Retail Ventures Ltd (RRVL) shall take controlling stake in JD for 3,497 Crores
  • o Preferential allotment for ~25.33% stake for Rs 2,165 Crores
  • o Secondary acquisition for ~15.62% (post preferential) stake for Rs 1,332 Crores
  • o RRVL to make Open Offer to acquire up to 26% stake under Takeover Regulations
  • o Mr. VSS Mani shall continue as MD & CEO to lead JD through its next phase of growth
• ➢ Traffic (Quarterly Unique Visitors) in 1Q-FY22 stood at 124.1 million users
• ➢ 1Q-FY22 Revenue stood at ₹ 165.4 Crores; Deferred Revenue stood at ₹ 307.4 Crores
• ➢ Net loss for 1Q-FY22 stood at ₹ 3.5 Crores due to ₹ 50.5 Crores of advertising spend during the quarter in IPL 2021 to promote new B2B platform, JD Mart
• ➢ Cash and Investments stood at ₹ 1,533 Crores as on June 30, 2021

COVID-19 Impact & Response:

• During the second wave of COVID-19 witnessed across the country during Apr-Jun 2021, the Company moved to Work-from-Home (WFH) for employees and is operating offices in line with respective State Government's directives. The Company has taken various measures to mitigate COVID-19 impact on its employees.
• To optimize discretionary costs, Company had curtailed its advertising spends in FY21. Our advertising spends accelerated during 1Q FY22 in order to promote our newly launched B2B platform, JD Mart. Our IPL 2021 campaign has resulted in great branding and awareness about JD Mart among businesses. We spent ~Rs50.5 Crores on advertising and promotion during 1Q FY22. Quarterly unique visitors on JD platform stood at 124.1 million during 1Q FY22, down 3.9% QoQ.

• With lockdown easing and impact of COVID-19 abating post the first wave, monetization had been on an improving trajectory. 4Q FY21 monetization stood at ~85% of pre-COVID levels. However, the unpredictable second wave restrictions impacted Collections during 1Q FY22, which stood at Rs142.6 Crores, down 28.9% QoQ. Traffic and monetization should recover hereon with COVID second wave impact abating.
• In long term, Justdial's JD and JD Mart platforms are likely to be key beneficiaries of rising internet adoption among SMEs to take their business online to get customers and to also run their business efficiently via use of technology.

Financial Highlights for Fiscal 2022 First Quarter (1Q-FY22)

• Operating Revenue: Total Operating Revenue stood at ₹ 165.4 Crores, up 1.8% YoY.
• Operating EBITDA: Operating EBITDA at ₹ -17.2 Crores due to ₹ 50.5 Crores of advertising spend during the quarter in IPL 2021 to promote new B2B platform, JD Mart. Adjusted Operating EBITDA, excluding ESOP expenses, stood at ₹ -10.4 Crores.
• Net Loss stood at ₹ 3.5 Crores. Other income stood at ₹ 22.8 Crores for the quarter.
• Deferred Revenue stood at ₹ 307.4 Crores, down 6.9% QoQ.
• Cash and Investments stood at ₹ 1,533 Crores as on June 30, 2021 compared to ₹ 1,643.2 Crores as on June 30, 2020 and ₹ 1,572.1 Crores as on March 31, 2021.

Business Highlights for Fiscal 2022 First Quarter (1Q-FY22)

• Total Traffic (Unique Visitors) for the quarter stood at 124.1 million, up 24.1% YoY and down 3.9% QoQ. 84.1% traffic originated on Mobile platforms, 11.1% on Desktop/ PC and 4.8% on our Voice platform.
• Total Active Listings stood at 30.6 million as on June 30, 2021, an increase of 3.2% YoY and 0.5% QoQ. 152,116 listings were added (net) to the database during the quarter. Out of total listings, 17.5 million listings were geocoded as on June 30, 2021, up 3.7% YoY. Total Images in listings stood at 106.4 million, up 24.9% YoY and up 2.7% QoQ.
• Total Ratings & Reviews stood at 120.0 million at the end of quarter, up 8.5% YoY.
• Active Paid Campaigns at the end of quarter stood at 437,865, drop of 1.6% YoY and 4.3% QoQ.

JUST DIAL LTD - 1Q FY22 (Quarter ended June 30, 2021) PERFORMANCE SUMMARY

Metric	Unit	1Q-FY22	1Q-FY21	YoY	4Q-FY21	QoQ
Operating Revenue	(₹ million)	1,654	1,624	change1.8%	1,757	change-5.8%
Operating EBITDA	(₹ million)	-172	375	N.A.	345	N.A.
Operating EBITDA Margin	%	-10.4%	23.1%	N.A.	19.7%	N.A.
Adjusted EBITDA (excl. ESOP expenses)	(₹ million)	-104	463	N.A.	415	N.A.
Adjusted EBITDA Margin (excl. ESOP expenses)	%	-6.3%	28.5%	N.A.	23.6%	N.A.
Other Income, net	(₹ million)	228	769	-70.4%	156	46.4%
Profit Before Taxes	(₹ million)	-44	1,013	N.A.	389	N.A.
Net Profit	(₹ million)	-35	833	N.A.	336	N.A.
Net Profit Margin*	%	-2.1%	51.3%	N.A.	19.1%	N.A.
Unearned Revenue (period end)	(₹ million)	3,074	2,871	7.1%	3,303	-6.9%
Cash & Investments (period end)#	(₹ million)	15,330	16,432	-6.7%	15,721	-2.5%
Unique Visitors^	(million)	124.1	100.0	24.1%	129.1	-3.9%
- Mobile	(million)	104.3	81.0	28.8%	106.3	-1.9%
- Desktop/ PC	(million)	13.8	15.6	-11.4%	16.5	-16.0%
- Voice	(million)	6.0	3.4	74.2%	6.3	-5.5%
- Mobile	% share	84.1%	81.0%	308 bps	82.4%	170 bps
- Desktop/ PC	% share	11.1%	15.6%	-446 bps	12.7%	-161 bps
- Voice	% share	4.8%	3.4%	138 bps	4.9%	-9 bps
Total Listings (period end)	(million)	30.6	29.6	3.2%	30.4	0.5%
Net Listings Addition		152,116	258,707	-41.2%	246,774	-38.4%
Total Images in Listings (period end)	(million)	106.4	85.1	24.9%	103.6	2.7%
Listings with Geocodes (period end)	(million)	17.5	16.8	3.7%	17.3	0.9%
Ratings & Reviews	(million)	120.0	110.5	8.5%	117.8	1.8%
Paid campaigns (period end)		437,865	444,934	-1.6%	457,360	-4.3%
Total App Downloads (period end)	(million)	29.1	27.1	7.6%	28.7	1.6%
- Android	(million)	25.6	23.7	8.0%	25.2	1.7%
- iOS	(million)	2.7	2.5	6.5%	2.6	1.4%
- Others	(million)	0.8	0.8	0.5%	0.8	0.1%
App Downloads per day		7,831	7,693	1.8%	9,614	-18.5%
Number of Employees (period end)		9,751	10,984	-11.2%	11,162	-12.6%

^ 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 (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 recently 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.