Just Dial Ltd.
|BSE: 535648||Sector: Others|
|NSE: JUSTDIAL||ISIN Code: INE599M01018|
|BSE 00:00 | 17 Sep||983.55||
|NSE 00:00 | 17 Sep||984.35||
|Mkt Cap.(Rs cr)||8,218|
|Mkt Cap.(Rs cr)||8217.56|
Just Dial Ltd. (JUSTDIAL) - Chairman Speech
Company chairman speech
I am happy to present our annual report for FY20. Our journey over theyears has seen us transform from India's first local search engine to thecountry's largest database of MSMEs. We operate in an extremely dynamic fieldconnecting our customers to digital technologies that help them grow.
In these times of the COVID-19 pandemic and its aftermath we see JustDial playing an even more important role in helping SMEs to reach their consumers.
The platform we provide is more robust than ever providing them theopportunity to leverage our huge database immense reach and high engagement to grow andemerge stronger in the face of crises.
India is moving swiftly in the direction of being a digital economy. Weare determined to enable more and more Indian businesses to take huge strides towardsdigital transformation and progress.
ENABLING MACRO ENViRONMENT
The Indian economy is among the biggest contributors to global growth;it is envisaged to be worth '5 Trillion by 2025. At present
India has 75-80 Million MSMEs and individual service providers thatcontribute significantly to India's GDP. In addition to this the sector providesemployment to ~120 Million people while 50% of jobs are created through MSMEs on a globalscale. Performance of MSMEs is integral to India's growth story. The policy climateremains favourable with the government providing support in the form of multiple schemes -in particular the most recent COVID-19 relief package announced for MSMEs undeAtmanirbhar Bharat' programme of the Government of India.
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In India the opportunity for digital adoption has never been better.Rising data consumption dependency on digital leading to exponential growth in e-commerceand digital consumer engagement as well as proliferation of advanced technologies indigital marketing and data privacy have all contributed to an environment of strongtrust.
Leveraging data-driven insights and tools can propel MSMEs into thenext orbit of growth over the next decade. In addition to this small business merchantsall over the country have adapted to digital payments. With recent investments fuelingdigitalisation across India our real digital revolution lies ahead of us. Today on JustDial close to 29.4 Million SMEs can be found through location-based services and searchengine. We are working to further understand our customers' needs and optimise ourofferings to enable businesses to digitally scale faster.
ANOTHER SUCCESSFUL YEAR
I am glad to share that at Just Dial we have been consistentlyperforming well through the years and FY20 was no exception. Our operating revenue stoodat '953 Crore growing 6.9% y-o-y. Adjusted EBITDA was '273 Crore 19.2% growth y-o-y.
Operationally our platform saw 153.3 Million quarterly unique visitorsin FY20 growing 15.8% y-o-y. Of the overall traffic we witnessed 80% was from mobilewhich continues to gain its share among mediums of usage. Our business is doing well withclose to 29.4 Million active listings on the platform and we are running 536236 activepaid campaigns for our advertisers. We have 109.7 Million ratings and reviews on ourplatform which are crucial to our users' decision-making. We have been steadfast inour growth accomplishing new heights even as our fundamental business remains strong.
the covid-19 impact
The COVID-19 outbreak hit our growth numbers during the last month ofthe year under review. While battling concerns about health and safety for our workforceand their families we ensured that our services for our customers did not suffer. Ourteam responded quickly to adapt to the evolving situations especially our TechnologyAdministration HR and IT Infrastructure teams which helped to onboard everyone on remoteworking within a short period of time. We acted with foresight planning and provisioningsince the first week of March itself. In fact we went a step further in using thelockdown time to enriching content on the platform by creating digital catalogues forvarious businesses.
Post lockdown traffic was down significantly impacting ourmonetisation plans. Our customers' businesses took a direct hit as the economy cameto a halt bringing down cash flows as well. In view of this ensuring comfort for ourcustomers we reworked our pricing and revised our plans and also made payment schedulesmore flexible.
our focus going forward
We look forward to building on our strengths while positioningourselves for future growth. Towards the end of the year in February and early March weimplemented a strategy where we focused more on monthly payment plans as compared toupfront payments. The strategy proved to be a great success with the rate of customersbeing signed going up.
Our outlook for coming years remains highly optimistic with therelevance of digitalisation percolating to the grassroots. COVID-19 has resulted in mostMSMEs realising that they need to adopt technology and internet sooner than later in orderto survive such crises. We will continue to collaborate and innovate to build successesfor our customers.
In conclusion I would like to congratulate our stakeholders on anotherprosperous year - your faith in us makes this possible. I assure you that we will continueto strive for achieving better and bigger growth challenges notwithstanding.
Finally I would like to thank all our employees for being a continuoussource of strength for us our customers for their trust in us and corona warriorsfighting on the frontlines for their selfless service.
V. S. S. MANI
Founder MD and CEO