Message from Founder
Founder CEO & Chairman
Dhani Services Ltd.
FY 20-21 was our first year in new avatar of digital product offeringsfor transaction finance and primary healthcare. At the beginning itself it is importantto mention the goals set out in my lost letter of FY 19-20 Annual Report and reflect onthe progress made on those through the last year.
We want to grow our customers from 5 million to 20 million in FY 21.Other than the loan products we will introduce other financial products as well. Howeverthe defining and king product for our consumer business will be affordable healthcare forour customers through Dhani doctor that will be available 24 hours 365 days ayearthrough online video consultations. Consumers will also have optional delivery ofgeneric medicines at their doorstep at a discount as compared to the branded medicinesotherwise available in the market. We believe that today digital healthcare is at the sameinflection point where online shopping was in 1995. We have set out to offer our customersdigital healthcare products that they simply could not get before and at very affordableprices.
We want to introduce affordable monthly subscriptions of variousproduct offerings to our customers. To begin with our goal is to get a small percentageof our customer base to take monthly subscriptions from us.
We believe that if we can learn how to successfully offer subscriptionproducts to our customers and also keep healthy subscription renewal rates in the processthen we will be able to scale up the customer base and the subscriptions very quickly inthe subsequent years in a very cost effective manner. This business has a huge potentialof size and scale and has the ability to serve a significant percentage of the growingIndian population.
We surpassed our goals that we set out. By end of the year we had over25 million customers we launched many products at a breathtaking pace through the year onboth primary healthcare (24x7 on demand doctor deep discounted unbranded medicines and ane-pharmacy on the app for branded medicines) and transaction finance. The monthlysubscriptions started and we were able to offer paid subscriptions to around 7% of ourcustomer base. We were also able to learn a lot on the consumer preferences and trends.
The goals for this year are :
1. Improve our products and the user interfaces basis our learnings oflast year
2. Focus on retention and renewal rates of paying customers
3. To provide superior customer service and introduce customer NPSfeedback
4. Doubling the paying subscriptions percentage on our customer base
5. Increasing the revenue per paying customer
To achieve our goals we are investing heavily in technology resourcessystems and infrastructure. Tech First is an ethos that is now widely imbibed by thesenior management team. We believe that the product construct itself has to be the maindriver of marketing. Great products require minimum marketing and that is a direction weare moving on very rapidly. We are making continuous changes on the product constructslooking at various cohorts for increasing the renewals of paying customers and expect goodresults. We are adding over 5000 people to our own call center team for customer serviceand support for easy adoption for our digital products within our customer base. Finallywe do believe that if we have winning products and great customer service we can increaseour revenue per paying customer by offering upgraded plans and more products.
As the legacy loan book runs off our revenues from paid subscriptionsand delivery of medicines will pick up. We expect increasing momentum in our business eachyear for many years to come.
We at Dhani are very grateful to our initial set of paying customersin our first year and our shareholders who continue to support and share our passion ofdelivering great everyday use products at very reasonable prices to millions of people.