Just Dial Limited — Investor Presentation 2021

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.: lnvestor Presentation

ln accordance with Regulation 30 of the securities and Exchange Board of lndia (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith a presentation to analysts / investors on the financial performance of the Company for Unaudited Financial Results of the Company for the .1sr quarter ended June 30, 2021.

We request you to take the same on record.

Thanking You,

Yours truly,

For Just Dial Limited

@

Manah Udani Company Secretary

Encl: as above

Just Diol Limiled

CIN NO: 174140MH 1993P1C150054

Reglstercd & Coeolal€ Ofrce: Polm Courl Building M, 501/8, 5lh Floor. New link Rood, Besides Goregoon Sporls Complex, Molod Wesl, Mumboi - 400064 Iel. : O22-28884060 / 39808795 . Fox : 022-28893789

Mumboi, Delhi, Kolkoto, Chennoi, Bongolore, Pune, Hyderobod, Ahmedobod, Coimbotore, Joipur ond Chondiqorh

f88888-88888 www.justdial.com

CORPORATE PRESENTATION

July 2021

D I S C L A I M E R

This Presentation has been prepared by Just Dial Limited ("Just Dial") for investors, shareholders, analysts and other relevant stakeholders, solely for informational purposes. The information set out in this Presentation, including business overview, traffic related numbers, products related information, historical financial performance and any forecasts should not be considered as advice or a recommendation to investors or potential investors in relation to holding, purchasing or selling securities or other financial products. Before acting on any information, you should consider the appropriateness of the information having regard to these matters, any relevant offer document and in particular, you should seek independent financial advice.

This presentation may contain forecasts/ forward looking statements based on facts, expectations, and/or past figures relating to the business, financial performance and results of the Company. As with all forward-looking statements, forecasts are connected with known and unknown risks, uncertainties and other factors that may cause the actual results to deviate significantly from the forecast. Readers are cautioned not to place undue reliance on these forward looking statements. Forecasts prepared by the third parties, or data or evaluations used by third parties and mentioned in this communication, may be inappropriate, incomplete, or falsified. Neither the Company or any of its subsidiaries or any of its Directors, officers or employees thereof, provide any assurance that the assumptions underlying such forward-looking statements are fully free from errors nor do any of them accept any responsibility for the future accuracy of the opinions expressed in the Presentation or the actual occurrence of the forecasted developments. Neither the Company nor its directors or officers assumes any obligation to update any forward looking statements or to confirm these forward-looking statements to the Company's actual results.

The contents of this presentation are confidential, and they must not be copied, distributed, disseminated, published or reproduced, in whole or in part, or disclosed by recipients directly or indirectly to any other person. Just Dial makes no representation or warranty as to the accuracy or completeness of this information and shall not have any liability for any representations (expressed or implied) regarding information contained in, or for any omissions from, this information or any other written or oral communications transmitted to the recipient in the course of its evaluation of the Company.

Any information provided in this presentation is subject to change without notice.

Q1 FY22 means the period Apr 1, 2021 to Jun 30, 2021 FY22 or FY 21-22 or FY 2022 means the Financial Year starting Apr 1, 2021 and ending Mar 31, 2022

R e l i a n c e R e t a i l V e n t u r e s L t d ( R R V L ) t o t a k e c o n t r o l l i n g s t a k e i n J u s t D i a l ( J D ) f o r t o t a l c o n s i d e r a t i o n o f R s 3 , 4 9 7 C r o r e s

• ◼ Reliance Retail Ventures, Just Dial, VSS Mani (Founder, MD & CEO) & Others have signed definitive agreements regarding:
  • ◼ Preferential allotment of 2,11,77,636 equity shares (~25.33% post preferential share capital) to RRVL at Rs 1,022.25 per share – consideration of Rs 2,165 Crores
  • ◼ Acquisition of 1,30,61,163 equity shares by RRVL from VSS Mani (~15.62% post preferential share capital) at Rs 1,020.00 per share – consideration of Rs 1,332 Crores
  • ◼ RRVL has also made a Public Announcement to acquire up to 2,17,36,894 equity shares representing 26.00% stake in JD in accordance with Takeover Regulations – consideration of Rs 2,222 Crores
  • ◼ VSS Mani shall continue as MD & CEO to lead JD through its next phase of growth

"Reliance is excited to partner with Justdial and Mr. VSS Mani, a first-generation entrepreneur, who has created a strong business through his business acumen and perseverance. The investment in Just Dial underlines our commitment to New Commerce by further boosting the digital ecosystem for millions of our partner merchants, micro, small and medium enterprises. We look forward to working with the highly experienced management team of Just Dial as we further expand the business going forward."

— Ms Isha Mukesh Ambani, Director of RRVL

"Nearly 25 years ago, we had a vision to build a connected single platform dedicated to providing fast, free, reliable and comprehensive information to our users and connect buyers to sellers. Our vision has evolved to not only provide search and discovery but drive commerce across merchants through our B2B platform and enable further consumer to merchant commerce given our platform engagement. Our strategic partnership with Reliance enables us to realize this vision & transform business going forward."

— Mr VSS Mani, Founder & CEO at Just Dial

C O V I D - 1 9 I M PA C T & R E S P O N S E

• ❑ 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.

B U S I N E S S O V E R V I E W

C O M PA N Y O V E R V I E W

K E Y S T R E N G T H S

• ❑ First Mover Advantage in Indian Local Search Market
• ❑ Strong Brand Recognition with 124.1 million unique quarterly visitors^ in Q1 FY22 (129.1 million in Q4 FY21)

❑ Comprehensive database of 30.6 million listings

• ❑ Attractive Value Proposition For Local SMEs
• ❑ Experience and Expertise in Local Indian Market
• ❑ Advanced and Scalable Technology Platform
• ❑ Efficient & Profitable Business Model
• ❑ Strong & Experienced Management Team
• ❑ Strong Financial Profile, Prepaid Model

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

N AT I O N W I D E P R E S E N C E

Nationwide coverage, branches in 11 cities across India

Corporate Headquarters in Mumbai, Technology operations and R&D division in Bengaluru

3,086 employees in tele-sales, 3,849 feet-on-street salesforce

On-the-ground presence in 250+ cities pan India, covering 11,000+ pin codes

M O B I L E

Android & iOS Apps Predictive Auto-Suggest Company, Category, Product Search Map View of Category Search Location Detection Voice Search App Notifications JD Pay JD Social Maps & directions Location-based search service Ratings & Reviews Friends' Ratings Favorites

Search Plus

W E B S I T E

Predictive Auto-Suggest Company, Category, Product Search Location Detection Maps & directions Operating hours Business logos Pictures & videos Ratings & reviews Friends' Ratings Favorites Search Plus Popular Category Searches

V O I C E

88888-88888

Operator-assisted Hotline Number One number across India 24 Hours a day x 7 Days a week Multi-lingual support Zero-ring Pickup Personalized Greeting Multiple queries in one call

Instant Email & SMS

V A L U E P R O P O S I T I O N F O R S M E s

Every SME should be listed on Justdial - India's leading local search engine & online marketplace

LISTING OWN WEBSITE PAYMENTS RATINGS REACH

Justdial can create websites for SMEs instantly, which are mobile-ready, dynamic & have transactional capabilities

SMEs can accept digital payments from their customers - via JD Pay, an online payment mechanism

Ratings are key to users' decisionmaking, JD Ratings tool helps SMEs gather more ratings & reviews

JD Social, a social media platform with curated content, provides great visibility to businesses rated by users

U S E R E N G A G E M E N T

120.0 million Ratings & Reviews Mobile-verified, unbiased ratings Friends' Ratings 10-Point Rating Scale Facebook & Twitter-shareable Photos Upload with Review Ratings shared on JD Social Robust Audit Mechanism

T R A F F I C / V I S I T O R S

Quarterly Unique Visitors (million)

T R A F F I C / V I S I T O R S

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

Ratings & Reviews (million)

D ATA E N R I C H M E N T

Active Listings - period end (million)

D ATA E N R I C H M E N T

Listings with Geocodes (million)

D ATA E N R I C H M E N T

Images in Active Listings (million)

P R O D U C T O V E R V I E W

J D - M O B I L E

V O I C E S E A R C H

M O V I E S O N L I N E

J D PAY Seamless digital payment solution

Price Comparison

Hail a Cab

Flight Tickets

Train Tickets

Bus Tickets

Hotel Bookings

Bills & Recharge

Stocks

Augmented Reality

Pay via UPI

Price Comparison Hail a Cab Flight Tickets Train Tickets Bus Tickets Hotel Bookings Bills & Recharge Stocks Augmented Reality Pay via UPI … and many more.

Price Comparison Hail a Cab Flight Tickets Train Tickets Bus Tickets Hotel Bookings Bills & Recharge Stocks Augmented Reality Pay via UPI

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One Way		Round Trip Flight Status
FromNew Delhi DELN
ToMumbai BOM
Departure7 Jul, Wed
Travellers3		ClassEconomy Class
Non-stop flights only
	Search
Jd Cash	FLAT ₹ 500 OFF*You can Use Jd Cash for Flights Bookings

Price Comparison Hail a Cab Flight Tickets Train Tickets Bus Tickets Hotel Bookings Bills & Recharge Stocks Augmented Reality Pay via UPI … and many more.

Price Comparison

Hail a Cab

Flight Tickets

Train Tickets

Bus Tickets

Hotel Bookings Bills & Recharge Stocks Augmented Reality

Pay via UPI

L23-Oct-2019DeparturePrice $\downarrow$$\left( \right)$3:30 PMAnand Travels4 16h 30mmTicket, NON A/C Seater /5:00 PM4 16h 30m5:05 PM912h 55m5:30 PM4015h59m7:00 PM4011h30m8:31 PM	Tuesday 10 Mar, 1 Adult
Sleeper (2+1)38 seats LeftShubham TravelsmTicket, NON A/C Push Back$(2+2)$41 seats LeftKadamba TransportCorporation Limited (Borivali)mTicket, Volvo A/C SeaterPushback (2+2)16 seats LeftKonkan Travels MahamayamTicket, NON A/C Seater (2+2)33 seats LeftVRL TravelsmTicket, Volvo Multi-Axle I-ShiftB11R Semi Sleeper (2+2)33 seats LeftNaik Travels		Duration
		₹810
		onwards
		₹900
		₹900
		₹900
		₹900
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		₹900
916h40mmTicket, NON A/C Seater (2+2)40 seats Left

Price Comparison

Hail a Cab

Flight Tickets

Train Tickets

Bus Tickets

Hotel Bookings

Bills & Recharge

Stocks

Augmented Reality

Pay via UPI

Price Comparison

Hail a Cab

Flight Tickets

Train Tickets

Bus Tickets

Hotel Bookings

Bills & Recharge Stocks

Augmented Reality Pay via UPI

Price Comparison

Hail a Cab

Flight Tickets

Train Tickets

Bus Tickets

Hotel Bookings

Bills & Recharge

Stocks

Augmented Reality Pay via UPI … and many more.

Price Comparison

Hail a Cab

Flight Tickets

Train Tickets

Bus Tickets

Hotel Bookings

Bills & Recharge

Stocks

Augmented Reality

Pay via UPI

Price Comparison

Hail a Cab

Flight Tickets

Train Tickets

Bus Tickets

Hotel Bookings

Bills & Recharge

Stocks

Augmented Reality

Pay via UPI

J D M A R T – P R O D U C T S TA C K

J D M A R T – P R O D U C T S TA C K

J D X P E R T S – O N E S T O P S O L U T I O N F O R O N - D E M A N D S E R V I C E S

J D X P E R T S – O N E S T O P S O L U T I O N F O R O N - D E M A N D S E R V I C E S

$\leftarrow$		Pest Control Services
	your service?1801, Summit Apartment, Ro		When would you like to book	change
Fri30	Sat31	Sun01	Mon02	Tue03
	08:00 am		08:30 am
	09:00 am		09:30 am
10:00 am			$10:30$ am
	$11:00$ am		11:30 am
12:00 pm			12:30 pm
01:00 pm			01:30 pm
	02:00 pm		02:30 pm
	₹1400		Continue	$\rightarrow$

J D O m n i – C l o u d - H o s t e d S o l u t i o n f o r D i g i t a l i z i n g B u s i n e s s e s

J D O m n i – C l o u d - H o s t e d S o l u t i o n f o r D i g i t a l i z i n g B u s i n e s s e s

J D O M N I – P R O D U C T S TA C K

J D O M N I – P R O D U C T S TA C K

F I N A N C I A L O V E R V I E W

E F F I C I E N T & P R O F I TA B L E B U S I N E S S M O D E L

• Paid Advertisers pay a fixed fee to run searchled advertising campaigns for their businesses on Justdial's platforms
• Various premium & non-premium listing packages available which determine placements in search results
• Multiple factors determine pricing, such as business categories of advertiser, geographies targeted, type of package
• Add-on products such as banners, own website, JD Pay, JD Ratings, etc. available
• Advertisers can pay amounts either upfront or through monthly payment plans, with ability to manage campaigns online
• Justdial also runs multi-city/ national campaigns for pan-India advertisers
• Sales team comprises of 3,086 employees in tele-sales, 1,163 feet-on-street (marketing), and 2,686 feet-on-street (JDAs - Just Dial Ambassadors, cold calling team) as on Q1 FY22

KEY BUSINESS ATTRIBUTES R E V E N U E

Adjusted EBITDA (Rs million) & Margin %

Note: The Company has spent Rs. 505.2 million on account of Advertisement and sales promotion expenses primarily towards promoting the B2B market place (JD Mart) through IPL Advertisement Campaign.

C O S T S T R U C T U R E

Note: Other Expenses (as % of Operating Revenue) of 42.6% includes 30.5% of advertising and promotions spends during 1Q FY22. The Company spent Rs. 505.2 million on advertising for JD Mart during IPL 2021.

N E T P R O F I T M A R G I N

Net Profit (Rs million) & PAT Margin %

Note: 1) PAT Margin is calculated as Net Profit (Profit After Taxes) as a percentage of Operating Revenue for the quarter.

1. The Company has spent Rs. 505.2 million on account of Advertisement and sales promotion expenses primarily towards promoting the B2B market place (JD Mart) through IPL Advertisement Campaign.

PA I D C A M PA I G N S

Active Paid Campaigns - period end

Cash & Investments - period end (Rs million)

Note: 2020 Buy-back for Rs2.2bn, along with Buy-back Tax of Rs0.51bn, was concluded/ paid in 2Q FY21

S A L E S F O R C E

Sales Strength - Period End

JUST DIAL LTD -1Q FY22 (Quarter ended June 30, 2021) PERFORMANCE SUMMARY
Metric	Unit	1Q FY22	1Q FY21	YoY change	4Q FY21	QoQ change
Operating Revenue	(₹ million)	1,654	1,624	1.8%	1,757	-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%

Note: 1) PAT Margin is calculated as Net Profit (Profit After Taxes) as a percentage of Operating Revenue for the quarter.

1. The Company has spent Rs. 505.2 million on account of Advertisement and sales promotion expenses primarily towards promoting the B2B market place (JD Mart) through IPL Advertisement Campaign.

JUST DIAL LTD -1Q FY22 (Quarter ended June 30, 2021) PERFORMANCE SUMMARY
Metric	Unit	1Q FY22	1Q FY21	YoY change	4Q FY21	QoQ change
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%
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%

B O A R D O F D I R E C T O R S

EXECUTIVE DIRECTORS
V S SMani	Founder, Managing Director and Chief Executive Officer of Justdial with over 33 years of experience in thefield of media and local search services.
V Krishnan	Whole-time Director with 28 years of experience, working with Justdial in strategic planning and execution.
AbhishekBansal	CFO and whole-time Director of Justdial, with overall 12 years of experience and handles Finance, Strategy,Accounting, Treasury, Audit, Legal, Compliance & Traffic. He holds an MBA from IIM Bangalore and a B. Tech. inElectrical Engineering from IIT Roorkee.
	NON-EXECUTIVE DIRECTORS –INDEPENDENT
B Anand	Anand is CEO of NayaraEnergy, and previously was CFO of Trafigura. He has 34 years of experience inCorporate Finance, Strategy & Investment Banking. He is a Commerce graduate and an associate member ofICAI.
Sanjay Bahadur	Sanjay is CEO of PidiliteIndustries for its Global Constructions & Chemicals division and has 37 years ofexperience. He holds a degree from Delhi College of Engineering.
Malcolm Monteiro	Malcolm is serving on JustdialBoard since August 02, 2011 and was previously CEO India, DHL eCommerce&was also a member of DHL eCommerceManagement Board. He holds a degree from IIT Mumbai & IIMAhmedabad.
BhavnaThakur	Bhavna heads Capital Markets at EverstoneCapital and has over 23 years of experience in Corporate Finance,Investment Banking, M&A and Capital Markets. She holds a BA LLB (Hons.) from NLSIU, Bangalore & a Mastersin Law from Columbia University, New York.
NON-EXECUTIVE DIRECTORS –NON-INDEPENDENT
PulakPrasad	Pulak is Founder & MD of Nalanda Capital and has over 29 years of experience in Management Consulting &Investing. He holds a B. Tech. from IIT Delhi and is an IIM Ahmedabad alumni.
Anita Mani	Anita has 28 years of experience in the field of General Management.She is a history graduate from Universityof Delhi.

L E A D E R S H I P T E A M

Name	Designation	Experience	Functional Areas
V S SMani	Chief Executive Officer	33 Years	Overallgrowth strategy, planning, execution &management
Abhishek Bansal	Chief Financial Officer	12 Years	Finance, Strategy, Accounting, Treasury, Audit,Legal,Compliance & Traffic
Vishal Parikh	Chief Product Officer	21 Years	Leads Product, Design & Technology teams, andVoice Operations
Sumeet Vaid	Chief Revenue Officer	25 Years	Revenue growth&Business development
Prasun Kumar	Chief Marketing Officer	23 Years	Marketing and Advertising initiatives, User growth
Rajesh Madhavan	Chief People Officer	25 Years	Human ResourceFunctions
Ajay Mohan	Group Vice President, Sales	25 Years	Sales platform management, Strategicalliances,Corporate partnerships & Business expansion
Rakesh Ojha	Group Vice President, Sales	26 Years	Sales & Expansion (West& South Region)
Prashant Nagar	Vice President, Sales	22 Years	Sales & Expansion (Delhi, JustDial Ambassadors)
Suhail Siddiqui	Vice President, Sales	25 Years	Sales & Expansion (North & East Region)
Manoj Johnson	National Head -B2B Sales	26 Years	B2B Sales & Business Development
Rajiv Nair	Vice President, Sales	23 Years	Sales & Expansion (South Region)
Shwetank Dixit	VP & Head, Database & Content	10Years	Database Augmentation, Curation& Contentenrichment; Traffic (Organic & Inorganic)

S H A R E H O L D I N G PAT T E R N

E N D O F P R E S E N TAT I O N