Q4 2021 Just Dial Ltd Earnings Call Hosted by Nomura Holdings Inc
Ladies and gentlemen could be and bake them to just doesn't get coupons by 'twenty one on each conference call hosted by them without financial adviser.
I didn't mind, all participant lines can be in the listen only mode and there would be an opportunity for you to ask questions. After the presentation.
Should you need assistance during the conference call. Please seeking an animal data, but just seems daunting Gino on you touched on Paul.
Please note that this conference is being with the Qantas.
I now hand, the conference over to them instead of ship funny.
You would do yourself.
Thank you I show on behalf of Nomura I would now like to write to me. It just I spoke to FY 'twenty one earnings call.
Behind the times are the founders CEO and MD, Mr. VSS money and the CFO of the company Mr. Avi Shake Benson.
Without further delay I would now like to hand over to the guys with the management or what are you guys.
Thanks Richard.
But even when times were tough times earnings calls for sports Sports office by 'twenty one.
So I think they've been used to go to 175.7 crores for the park, which declined five 2% year on year and grew three 6% quarter on quarter on a per day basis than you do in fourth quarter view five 9% sequentially.
Why it dropped on me.
In fact, often do what collections usually have the master of a posture for us.
Due to impact of COVID-19.
Good luck on your Union impact of COVID-19 of course, the phosphate monetization had been on an improving tragic painful to you.
14 monetization forget approximately 85% of equal working against you.
You do reasonably healthy urine collection airports have been used to that he talked to your point keep it all got done pretty close to March which was only down one 7% on young and was up eight 2% quarter on quarter.
Operating EBITDA adjusted for noncash you stop expenses stood at 41.5 crores for the quarter declined 48% year on year, primarily due to lower top line.
And he did have seen some decline in margin you do.
Proximately, 5% quarter on quarter, Indeed, even if the employee expenses, which was partly due to increasing variable pay I'll spend partly due to inflammation.
<unk> expenses were higher by about four growth quarter on quarter due to one in hospital with an increase in advertising spend and about $2 19 crores up you talked to a region, which card based up in fourth quarter.
Our marketing Department.
I believe it should be on an ongoing basis, rather than just a quarter because third quarter might have lumpy costs would be on a full year basis. If you see the hogs, but the main thing to get on the air dropping toppling. Despite our adjusted EBITDA margin stood at 28, 2% for the full year, our employee expenses, excluding yourself expenses.
We're down about 21% for the year other expenses were down 48% year on year into 'twenty one.
Even excluding advertising space, but let's talk about expenses, but also down about 15% again on me two.
On the cost front, we have been controlling those quite well even in this exceptionally tough yet.
Other income for the quarter stood extra feed one fixed dose which was.
Impacted due to increases in bond yields during the quarter what is declining.
Hadn't been witnessing in the preceding quarter and same quarter last year.
Consequently, net profit for the quarter. So that's a key 0.6 doors for the fall.
You Gotta be hard 214 crews off back well it gets to 72 crews off back last year.
Cash and investments stood at 1500, 72 crores that sounds pretty close March.
Oh 2020.
One down just 1.2 person to get on yet but.
But when do you cross buy back that you can do there during the year, but effectively able to funding bad buyback in Texas and New Jersey.
Out of total to 73 crores, while our operating cash flow was English League game.
Coming to operating highlights we had been involved with I can spend in fiscal 'twenty one.
Mike do you want me stand only about 2% to foreclose on it but I think what's it's about 65 gross thinking of FY 'twenty.
In FY 'twenty, one bulk of topic came organically.
But fortunately, we had $129 1 million quarterly unique visitors, which was almost flattish quarter on quarter. If you consider that in.
Impact of two calendar days, and we were supposed to be cute.
And would I be painted a uniformly page 21 in order to promote our newly launched <unk> Com gave me Marc.
I can't predict when you Wanna campaign hospitals, like they're getting great branding and awareness among business is about I'll give you my platform on JD mall, we shall be having logistics doesn't seem to anybody and coming off the businesses would have been 11 logistics. So why does keep your phone.
I mean, that's closer to shall be rolled out really shocking.
Total active database just that stood at about $2.
4 million listings and paid campaigns at the end of the quarter water.
7000.
Now as you all know India is battling second wave of COVID-19 for the past six to eight weeks.
And in fact has been quite yet like rest of the country, our employees who have been impacted on.
The company is taking all of them are just to support them in these tough times.
There has been some impact on topic and monetization we are closely monitoring the scene.
Hopefully ask one that they can do it's upside for the company should be faster this time.
But things look very optimistic March months in fact, we were at almost 90% of equal weight levels.
JD mall traffic also should start.
No.
So I've got any traction in coming months as Jamey mock docks featuring in Google searches on part D could be felt greedy.
He speaks 2 million pages of data you might have already been indexed in.
In long term.
Thank God, what Gideon did you must know that likely to be keep black swans for if any.
Get online to get new customers and also our service, which will enable them to run their business that they shouldn't be wider use of technology, which is what if it needs required to date.
With this update we shall end up your questions.
Thank you very much you bet.
I'll begin the question and answer session.
Anyone who wishes to ask a question make sense.
And one on the touch tone telephone.
Thank you listed them, we'll just tell from the questions Julien.
Got into.
Participants not equipped to deal with handsets when asking a question.
Ladies and gentlemen, you can make fun of moments that she'd give us send it.
The first question is from the line of the Society.
Please go ahead.
Sure thing thanks for the opportunity.
Just two questions from my side first on the quarter and then second on the <unk> side.
The paid lifting addition seemed a little weak despite I think the collection. The company has been pretty decent guide for this quarter.
Any reason why I think we are still seeing a lot more hesitation from F&B is this largely because of some of the business. Some of it isn't you got out of the business and how should we think about the Jordan.
Great.
In the paid listings now which is what we were at in the pre COVID-19 levels. So that's first second.
Could you just help us understand in a bit on the b to B business rightly mentioned logistics and payments will get rollout.
Could you just talk a little more in detail about the one.
Sales and marketing initiatives, what are we doing apart from IBM and second I think on the hiring trying to what are we doing from a senior management perspective, and how that's shaping up and is there a timeline set of.
Putting out when we can call out BW business separately.
Okay. So firstly on the paid campaigns. So I think the way to look at it campaigns would be to look at what all annually.
And what do they think so by and large EPC and believe we had about 29% impacting top line.
Against this particular, 29% about 14, 15% drop has been due to COVID-19 campaign and the rest about railcar important impact has been due to visualization.
Campaign, while in.
This particular COVID-19 first since I conveyed had a significant impact on Smes have been affected to the extent of <unk> 15 per se other than things that are going to normality. It should recover as I mentioned during March one so March monthly we're almost at about.
19, 92% of pre COVID-19.
Oh.
Not really no number to watch is my hobbies.
<unk> overall.
We have a new monetization et cetera, panning out yet.
Marketing your factor of campaigns with digitalization.
That really automatically put in place.
Coming to your question on churn rates during.
This particular year definitely downgrades would have four inch higher because they're dangerous they need would have decided to possibly partner campaign paresh for some period and then you could probably come back into the paid ecosystem.
One example that I keep getting is that even just high level cost freight rates to David because he's only advertising things break down 90% for the entire year, but that does not mean that we have shown don't ask us to my board beat Google on the digital side at any Mark media platform.
If you want to allocate a certain budget to advertising and those but your calibration scanner Luckily we shouldn't see says not one language.
On the <unk> side.
I didn't have resulted in greater brand name.
Platform going forward.
In turning to divert a part of the things towards digital campaigns. So typically as you would have seen that they need.
New product launches you typically do a mass media campaign, and then you possibly get into what has been employed with IPL you understanding that we know what are you going to humans. We would obviously have the option to again tighten up we would have to write off.
Taking that inventory first.
During third quarter, we might again want to come back so for this particular market.
On the monetization side, we have carved out a team internally frontline sales executives, who will be working on our b to b.
Monetization.
Also beefed up our senior management team on the monetization front so.
There are people, who will it be culturally dedicated towards this particular monetization initiatives.
So that timeline is that it's been fun.
Broadly the way we look at it is that in the next few months topics, we're talking king up in patent arbitration pod monetization is ongoing and I think in two months, both traffic and monetization monetization should.
Starting upward trend.
Not to mention that.
While this particular second wave Cortana first off that we had a great plans on monetization in parallel with ICL.
Those seem to be sort of a default.
Therefore by maybe one or two months, but that's okay. The platform is being built to be there'll be to be players to grow of course in next three years five years.
So essentially you're saying, we can start calling it would need to be potentially a starting <unk>.
Is that a is that fair yeah. So in terms of aggregate take number one.
One next quarter.
At that point of time, we'll take our condensate.
Sure sure. Thank you.
Thank you.
Okay.
Thank you.
The next question is from the line of music online Silberman. Please go ahead.
Alright, Thank you very much for the opportunity.
Could you help us understand the split between revenue and traffic.
A new graphic and campaign in the top 11 cities matches the rest of the markets. So that's question one the second question is with respect to.
The number of campaigns.
So what got impacted more what they eat.
Number of advertisers a shares that came down.
Hum.
Is that the.
Number of advertisers, who are broadly similar to yours, but b.
But they are down only one campaign getting the yard work shifts.
Prior to the edge.
If you could explain that.
Okay.
So firstly on <unk>.
One was this oh restaurants cities.
Adobe acoustic views do they contribute say for last quarter about 33% to top line.
And there are two campaigns about 54% or so.
So that's traffic contribution is concerned that there's a largely 50 50, 50% traffic comes from tier one cities and restaurant tier two tier three.
Wanna campaign frankly, this particular quarter also we are there.
Around 2500 3000 campaigns.
In fact March what happens is that all.
During the last week of March we will get a bank holiday that are part of the collection tends to get spilled over to the month of April So about 10 crores worth of collections.
Hi, Tech particular collections being booked in March.
That itself would have averaged probably spiked it out any additional big campaign. So from that perspective things are trending in the right direction, yes, there would be certain categories such as <unk>.
Your hospitality retail type of categories, which are still struggling under COVID-19. They could not even recover first of course, great. So those categories would have seen some impact as I mentioned back on things that we look at it is that we're on campaign impact year to year. It is about 15 odd percent itself.
Alright.
Alright, and is it possible to give more color on the number of advertisers that are there now.
Finally, if you give that number.
Two advertisers that really should not have been in the range of one point to one point due to back has not materially changed.
Alright understood, Okay, I have more but I'll come back.
Sure. Thank you.
Okay.
Thank you.
Yeah.
The next question is from the line of Appalachia with Andy on Sunday.
So Chad. Please go ahead.
Yeah, Hi, Thanks for taking my question.
Sure.
Where are they active customer base is down 15% on leases.
So how much it has been the impact on <unk>.
I just wanted to understand it how niche.
Have you seen the impact on <unk> is typically around when like nice to you.
So I'm not sure why don't I have not seen the exact numbers simply because at this point of time. It's the same person, who then sells to a dentist to a wholesaler to a real estate agent. There is no category right segregation in monetization at this point of time, but my sense is that the to be dropped.
<unk> been a relatively lesser compared to overall, because it's a b to C services, such as your restaurants hotels within the liquid category. The education institutes tutorials, which have been severely impacted due to COVID-19.
So that's where my sensors that need to be in tax would have been lesser.
Okay, and you mentioned in a little bit or do you need reached 80.
85% pre COVID-19 level data that goes in terms of the customer base, we're talking about in terms of collection.
So fourth quarter I mentioned that we did about 85% of pre COVID-19 levels. So fourth quarter, we collected two.
200 crews as per our balance sheet number about 210 is if I were to allocate still pretty close to peak.
Market related collection. So that was broadly 90 people sent dogfight equal with run rate of 235 to 40 gross.
Yeah Yeah.
We have seen further improvement in EBIT.
Hey, Brennan it is not.
Not possible to have improvements in play because the impact of taking this as all of US know has been much much yet so it rarely anyway typically tends to be softer versus March because since we ran an April to March I can.
Typically we have higher ticket renewals that are lumpy in March month and April. This time, obviously hanging back so they can be volatile. So we are still monitoring how he probably me. This particular quarter pans out. So we'll have to see the impact has what are they.
Yeah, Okay, yeah. Thank you.
Thank you.
Thank you.
The next question is from the line of Madhu Babu come from Canada HSBC. Please go ahead.
Yeah, Hi, Sir so how much of the billing is on the monthly packages and how much of that as a percentage of revenue.
So overall about 50% comes by a monthly payments and the rest.
I think people are saying why are upfront collections.
So a monthly payment would be hitting this one too again because of the second wave in a big way.
In fact monkey they might not hit that much because monthly payments are new they are.
Recurring in nature, those customers do understand that okay, whatever they are paying us for a longer duration typically what gets impacted is the.
New customer signing up because that customer obviously has the option of paying that down will likely not take it takes it a month later when I have picked up it up on my own business.
And second how is the pricing approach on J D.
Are we giving any free right.
And how is the feet on the street again, because there is a second lockdown. So how are we approaching the same musical even uninstalled contracting in the LP.
I'm on the catalog et cetera, so how is that progressing.
So on the.
Don't see it at this point of time almost entire workforce is operating from home.
And the last one you have to you have been able to educate doctors don't connect digitally connect online to customers. So they might be connecting via calls messaging.
These online mediums.
Which is also good for us in the long run pre COVID-19 customers Didnt have the expectation to see someone physically face to face to sign up a campaign, but all of that is changing.
For example, now almost about.
50% plus.
60 doesn't pay mines come via digital more workers.
The remaining coming why us checks.
So that does connect with customers.
Happening online.
Coming to your first question on <unk>.
Pricing. So we are working on video packages, where we do plan to do.
How do they are 60 day free trials to customers at this point of time. There are two things that are aggressively working on creating digital catalog.
In house team as well as there are certain external windows also helping us do the things.
We already have about 35 40 million products as part of catalogs Witten Geordie Mark lifting.
Even though we already have about 400 to 500000 rich catalog.
Give me my platform.
Today, if you go and search anything longevity, Marty when you can search for it.
You want to buy Buffalo's anywhere in India, you would be able to find them.
Yeah.
And third the review has been mixed on the Playskool I mean, so how old you are working on that development.
Because he does that usually is but you know so I won't be taking that feedback and.
Oh good reviews from our assessment has been quite positive for App was rated though has been traded pretty well.
As you know on such a.
Big platform there tend to be so then do you think problem that the trough, which keeps getting fix from time to time in fact on the JD App side also you would have seen the latest Oh I'll take that went live a couple of weeks back both for the Android as well as our U S. So bold beats particular absorbed all the odd.
Getting a good rating good traction.
Anyone who has used this particular platform you can spend five minutes on the platform with Applebee's mobile site website, they have come out they're generally in place.
And then last one because the idea that we installed so how old the AD spend the V. Go I mean, because last year, we landed big AD spend for JD mall, coinciding with Atms are now how old the payments will span out thanks.
So I see any of the contractual arrangement was so based on that we would be bidding for whatever inventory get snake wiper and grant for 29 out of 60 matches so almost a.
45, 48% of overall deal value building that base. So that is how it is.
Okay, Sir thanks, and all of us thank.
Thank you.
Okay.
Yeah.
Thank you.
Yeah.
The next question is from the line of about isn't going to come from Nippon India asset management. Please go ahead.
Oh, Yes, let me say good evening and thanks for the opportunity to speak with modifications. One would we continue to do all the angles buybacks or what is the plan approach.
The last buyback was concluded in August 3rd Duane D. So as I mentioned in my opening remarks, the operating cash flows and treasury gains was sufficient to even find the entire ERP alcohol buyback the next decision for buyback.
The proposal can be earliest picking up in August 'twenty, one so at that point of time, we'll have discussion with the board how we want to go about our capital allocation strategy.
The board and all the stakeholders, obviously, you had very clear that they would want us to pursue our organic growth related initiatives.
But we do have sufficient cash goes to do even booth, but that particular point of time will take all appropriate decision.
Sure social and secondly in terms of our product capabilities I mean, it's an awesome product that you get the creator and the full stack. If you could help us here over the next maybe one or two years what are the white spaces that can defend what capabilities additional week that you're building or how would you completing the loop in terms.
Customer fulfillment onboarding.
Anything that the logistics or the financing side.
Okay. So.
Okay. So the way.
This particular platform is being debated.
Our basic philosophy that took us five years down the line, we wanted to be sort of equivalent of Alibaba in India.
What I mean by that is but this particular platform should have two streams of revenue one as subscription revenues are there should be transaction Linda the news.
Today, if any do not look at our platform yesterday, which I didn't yes advertising is at the port but they also want to we'll then are the other things that can then start to blur.
Tom can provide to help them run their business efficiently.
Which is why we are incorporating 13 additional features such as logistics services.
Any SME Ashland has been good.
Their shipment details they can have 10 to 20 different.
<unk> logistics service providers to choose from similarly, there maybe came in that growth services as well.
In logistics transit insurance will be boundaries.
For all the shipments that will take place at the same time via working on integrating financing young insurance related all cancers.
<unk> SME one thing to have in fire insurance and you can actually calamity insurance or any other insurers for that business patois even individuals.
Themselves or their family members is up all those because we didnt thing to have and same on the financing side has been on financing.
Any lending players want back particular rich information that we have in terms of how long has this particular SME human business.
Is there any GSE to just start or not or what is the payment schedule to just die, which they can use as a proxy to a gig.
Good how much better do lend working capital loan to door sensor in person online. So all of these features really ideally the guy who's been there for me.
<unk> been very sticky with this particular platform there will be some smes wanting to outgrow car subscription plans there'll be certain SME is wanting to be although 10 percentage of commissions on the transactions like what happened so platform really cater to all type of event.
Sure.
The worst of the same question Oh, what do you think will be beyond your view.
View.
But it's probably important for the customer.
But it could be beyond your core or beyond your capability.
So that I think that in all these additional services at this point of time, what we are thinking is that we would primarily be enabler. You believe there are specialists out there who know who have expertise in rendering each of these services.
Our expertise would come in terms of.
But are you getting all of them in one place and providing our intelligence wire data analytics et cetera, there could be cases, where you might realize that we need to possibly get into operations off some of these services are not saying that.
We will definitely need to but that is one area will need to closely watch out for that the service providers with whom we are integrating should be able to give the.
A great user experience to Smes booking those shipments on the platform.
Sure So I'll come back to that piece of it.
Thank you.
Thank you.
The next question is from the line of furniture chats from Edelweiss. Please go ahead.
Yeah, Hi, Thanks for the opportunity My first question is regarding the proxy.
Quarter on quarter, there is a slight dip in traffic.
Can you talk about how this crisis I mean, what is the reason for that because you have seen.
<unk> activity of the people in general including.
On a quarter on quarter basis wasn't there to deepen traffic.
Second question is.
How should we look at that.
Expenditure for Q1, FY 'twenty two.
Because there will be some IP related costs and you said it best when he said that when you come in so how much will be the agenda.
If we look at that number used to be 35 40 per underpin a quarter.
And how that kind of thing. These are my two questions.
And then of course, you have the traffic the traffic luxury but flattish quarter on quarter. We also have to understand that a large.
Last quarter had two less calendar days versus previous quarters, so that when the hospitals, saying sequential drop that you are seeing.
<unk> is primarily due to those particular page itself.
By and large traffic was flattish.
And as I mentioned that there wasn't much of it but I think that happened in this particular quarter.
This number again the way to see would be that this organic traffic that we're getting is already about 78% higher versus pre COVID-19 levels whatever impact on a year on year basis that we are seeing is primarily due to a paid traffic where we have virtually nothing.
Opinion 95 or something.
In particular.
Those things come back as and when popularity of the platform increases you'll do other mass media campaign topics your stock moving upwards.
That's from all end of March there was this particular little impact of second wave that started coming in though I would say that that is not in doubt.
But.
Coming to asking for first quarter, yes, so ideal related things work.
That expense will largely be should be in the range of 40 to 50 crews also this includes a all types of advertising spend including content creation.
Other related and for the entire year asking you had mentioned earlier that we are planning to almost have doubled it all things off FY 'twenty if I can.
<unk> spent about 65 crores for.
121% growth you have allocated but we would obviously be judicious and have to see how to allocate that.
I've done a multimedia campaign. The next step would be focusing on paid traffic plus if you're well organic traffic related initiatives.
Then as we reach cod in the fourth quarter, the mass media campaigns, where they're going to come back.
You said just said, though.
Any more detail until you spend some money and I know it's.
And we can start.
Are you seeing its impact will be more under Judy marks and downloads, but I think oh from JD mall.
I think where do you think you can start shingles.
So this particular campaign was focused on popularizing the remarks.
So this would obviously.
Having passed on them to be a mock app downloads itself. So just to give some brief color.
The campaign, we had only about 1500 dogs the downloads that were happening during the campaign it <unk> as high as $20000.
They also or 10 days.
And.
But we'd be evaluating that my sales person when it was they were interacting with their near term needs, but he IPM every SME was saying okay. What is this a J D market that you are referring to two day whenever it might be interesting talk.
The response of 95% of the cases it yeah, yeah, we saw that particularly on JD mall campaigns with rent lead on IP and so that obviously would it's not just about evaluating how much data is created immediately and tell me walk out downloads topic of tetra he wouldn't be able to leverage this will work mixed evident.
What those or even <unk> so to say.
Okay great.
One more question if I may.
How serious is this lockdown I mean, not guarantee what other things we are seeing in terms of the traffic and the collections.
I mean, I don't know if you wanted to man this benchmark it two or three sorry in Q1 FY 'twenty maybe.
Okay.
So Q1, FY 'twenty, one a immediate impact on traffic was quite severe there was about 50, 55% in here dropping Nokia. This air traffic has recently signed up when so there has been only about 10 odd percent impact on traffic.
Monetization again April was quite severe.
This year there has been broadly about stay around 35 40 per cent impact the horses.
The March quarter in this particular period situation is still evolving good thing is though certain tier one cities are coming out of this.
It can be a impact no restrictions are yet to be lifted fighting these particular.
He says that remain low for a few more weeks than recovery should also be fostered my sense is that first wave had a much a serious immediate dent and it took longer for recovery to take place.
This year I stress topic expertize concerns. So in fact as noted there is an impact on monetization, but as and when.
The second wave subsides monetization should come back.
With a bank, which is what we are witnessing from second half of March onwards smart.
<unk> seem to be a really sort of normally March for us where you are able to do 90, 92% of people with Liberty.
Hmm.
And I looked at Atlanta.
Yeah, Yeah that answers my questions. Thank you so much I appreciate that.
Yes, and that argument to say okay.
Thank you.
The next question is from the line of 50 Goodbye from ESB investment managers. Please go ahead.
Uh huh.
You talked about.
For example, logistics they are apart.
Ooh Ooh Ub Mark.
And financing and all of them back and trends.
Will those be charged and we certainly will make something there that it will be.
Instead, we assess bring leaves the group will get spent.
And similarly, there are there things that Rainbow Crystal Orange book.
Grain elevators et cetera.
Is that part of the business seeing any significant revenues.
Yeah can I take this question I would like to give you a picture about JD Buck I was trying to speak in the Alere I have to redial again, where I'm sorry, my name is money.
Well, it's part of the team.
Hi.
So Judy Mod the sole purpose is to be B b to b marketplace of India.
So what what it takes before that you, but you've seen our product.
It's been well appreciated that as a big comes up from both the vendor community on the user community.
Judy marks campaign also took off very well.
And then there's about the product is reached.
Now the second level a campaign for the company is in widening every b to b business to download the J D mock app and they get a free get locked as well less free customer needs.
People believe still get free customer leads so whatever they may be being a competition to be part of you know just by downloading the app.
And uploading the catalog they would get pre lease build that as a breed ecosystem big Super obviously, the paid people will get preference.
There's going to be a good promotion I should know b to b business buying from one of the business, which were both decades as we would want both the parties to download the app.
But that said I believe we would want the traffic to come directly through our own app to.
To make it more attractive.
We are launching this scheme of download the app activate youll get logs get advertising what property, great 30000 peaceful freak okay.
This is what they'll.
They'll do make JD mall to be even more successful like the likes of Alibaba adult you kind of plugging payment escrow payment services plus logistics, the best practice logistics into it.
And give it as a complete solution.
As we move forward you will see door many businesses make sure swing why aren't you must be may want to speak to JD mud because youre dealing with under the budget was not known so basically you want to secure it. So if you wanted to be sure that you get you a good sense. It was similar to the selling part.
You may want to dispatch only be sure about the payment. So we play at the very active role and do you see this as a tremendous scope in the future.
Logistics service with all the logistics plug into D be incomplete any market place no.
And interestingly B to B market places. It will also bring with complete logistics solution that is in need of.
No I wish I was wondering your thoughts about you know the general mood of enterprise. It just picked up in the last two weeks to March it really picked up things seem to be normal everything was going on there like that.
<unk> got hit with the second wave, which was far more severe but generally dampened the mood of business community as such just.
To explain a bit about the drop in revenue, which is 25% year on year.
<unk> revenue.
<unk> come from non B to B services and among non B to B also majority 80% of it comes from.
Okay.
Most of our revenues from B to B business, a b to C businesses and 80% of those are services. Most of these services that people go through their setups and get really all the services come to your doorstep in doing both these cases, but very badly affected by the lockdown.
The severity of these kind of for example, nobody was going to a dental clinic to get advantage all done in the last 16 months, probably 14 months.
But just out of Seattle.
Kobe Similarly people were dragging to invite the best good cool Guy or is it a bad Guy Oh, So do you spread it does change in spend that you the.
The momentum pick up too long, but you will see Jeff Dyke revenue should bounce back with Lora.
You know far more aggressively as compared to or what has been the buses. Okay. So lockdown definitely plays a very big impact on the on the type of revenue.
Revenue that we monetize that it will definitely be an impact so once we conquer over this a second second COVID-19.
I know hope there is no toward COVID-19 wave then things should bounce back to normal we may even do better than pre COVID-19 numbers.
Okay. So it's always like I'll be shakes out at the mood. If the mood is not good you don't want to spend on promotions and advertising.
We wanted to advertise in IPL for J D. Martin because that was a one time launch campaign that was the awareness creation campaign. So we did it and we got good visibility.
The good branding unfortunately.
I'd be glad to be canceled midway and we got there'll be funds also from the <unk>.
The challenge that you had spent it.
No. Your question is regarding J D. Mod is a product or any of the new products are just that were launched yes. Our board would be to provide the best of the best services and make it the world class products, such that you know, we odd bed, making a meaningful not a me too kind of resolve that.
Got it understood. The other question was on the others.
So with those that do have bookings of Bulgaria thing that airlines buses trains et cetera.
Uh huh.
What is that.
In fact interesting.
As we speak we are launching aggressive download of J D. Marc and just I'll add with two pronged strategy for JD Mall desert Saturday to be like download that we'd get a free catalog and pre customer leads that's decided you for JD mall. So we are hoping it'll billions of Indian businesses download that when the free AD campaign.
<unk> would've been one to meet customer needs.
The <unk> C, which is just I just I I first time, there will be launching hopefully in the next two to three weeks, we would have launched or just the download the app and a real Judy cash.
Judy Kashi is like a virtual cash you can burn it against.
Transacting online on J D, which which will include flight tickets bus ticket straight to goods and all those online digital water solutions. We provide you can burn or dead and soon when the long don't get so what you would be able to burn does J D cash all true on a pillow restaurants spas and it'll be this other established.
But it's not.
In order to earn JD casual to download the JD app and as you download the App you get some JD cash and if you'd ever more friends and family to download JD App.
It would be successful downloaded get more J D cash and the prices you can accumulate a lot of J D cash and which you can spend online on just on or offline, but just I'll windows and basically it's equal to cash you know and this is what we're working on and this this should give you a lot more to do.
So the important this will of course create the vendors didn't have people do come and transact on blindness.
As you know that we want to get on to an online trumps actable engine as much as possible going forward. So these kind of instruments would help us.
Sure. Thanks.
Okay.
Thank you.
The next question is from the line of potential panic people ahead.
Hi, Thank you for this.
Just two questions from my side one on traffic.
I think sort of obviously you mentioned about the abnormal right, but if you could just provide a little more color on how is the traffic in a prudent manner than the IPO on that's wondering essentially I think money like you mentioned.
But from a supplier side I think we've got enough incentive for them to download the app get a free card Logan needs et cetera, right, but how do you sort of attract the buyers to be on the platform because that's like the network effect that you could potentially create right. That's one and second just on marketing spend and what is the outlook.
Could you just put a wider color excluding the IPO spends one and what level of cash are we planning to spend with the J D. Cash initiative that you just talked about thank you.
Beyond that the traffic is preliminary.
Perfect.
Just about as I mentioned, 10% downward.
What do you think any day now he brings me had multiple factors on one hand, we had ideal running with an aggressive marketing campaign on other hand, we had I think they've also so very difficult to differentiate that had not been done in conductor off have been higher.
Uh huh.
On advertising spend advertising spend that I mentioned that we have allocated I'd say around 121 crores for the full year.
Whatever he plans to do far daily cash needs will be funded by our margins that we anyway on in those particular verticals.
And the rest would be from the marketing budget advertising budget that we have carved out for the entire year.
But that is hardly beach.
What is the level of budget. If you can just provide an absolute number.
120 to one particular loss for the full year.
And that largely be the ideal extend the journal.
So okay. So IBM expenditure at this point of time is ballpark in the range of as I mentioned I can tell 48 50 crews. So we do have remaining about 60 to 70 crores for the year left we could choose to run another mass media campaign equally IPL or any other property.
D as in running a high at the end of June into third quarter.
But the rest of the budget could get diverted towards digital spend et cetera. So at the beginning of the year, we had a plan to do primarily.
And on ICL for remark media I can now.
Now that we have hired by judge for the rest of the year that can get utilized before.
Videos are the revenues.
I think we had also clearly mentioned that one off launch campaign will be there for J D. Mark.
It shouldnt be counted as part of our the advertising on a regular basis. So as soon as things get the normal speed you may have to get a regular advertising up and running.
And just one off campaign, which has been done for the demand that should be not counted as part of the regular AD campaign.
And that's part of G. D cash is concerned it's neutral cash neutral exercise because it's right.
You sure from what you an odd businesses Oh, no you're JD guests with what they're getting advantage after a new customer.
Okay.
Bulk of that Oh by multiple would it be on businesses like I said, it's not how do we remodeled buffet and Mr toy sort of you're getting them built and that's what gives them. That's okay understood and just a just a clarification on this so this is ex of IPL that you're talking about.
The marketing spend right. So if let's say the amount of three intriguing with IPL claims come back about 50, 60 garage edition, which is that we'd still be spending the regular marketing budgets that we talked about yes.
And anything on advertising. So you before you can take as a benchmark and you could probably add 20% to work.
Yeah.
Or do you spend 40% of that no. It does.
The trend.
Okay. So another underground.
So the focus has a lot to get done loads and some kind of incentive metabolism, let's see how it works and.
Hopefully it bodes well and.
This should give us the.
The interesting thing is you got to get the aircraft you guys, which is possible and obviously you have to continue yachts youre in at the Ameren by yourself also.
And Douglas D V C L.
Okay got it perfect. Thank you.
Thank you the next.
But till it from kind of a case of no T from.
And it sounds like can you. Please go ahead.
Hi, Thank you for the opportunity.
Gibson talked a lot about Geordie Mark you know what would be your monetization plan works out both of them and we are planning some who makes it.
Maybe any perspective in next two years.
And how are you going to you know pricing come back to your competitors.
Okay. So that's the way you approach. This is forced to make an impact in terms of product in terms of comprehensive and does so hence you would want to have everybody's got lock out dead.
Before it even Goldman aggressive monetization there are people, who are really wanting leads and the other ones were coming out bad in signing up on their own.
As you know that would be used to get 3% of our revenues from b to b, but a good platform.
Help us monetize better in the long run, but in the short run it's better to sacrifice a bit of revenue and go all out aggressive in building a great a great content, you know and kind of make a difference in terms of product out there in the marketplace. So that's going to bode well.
Salt brokers in terms of pushing this product across to be to be businesses.
And waterworks.
Whatever happens should be an outcome of this activity in terms of sort of revenue should be an outcome in the next six months, we should push J D Mart as the go to place for all of <unk> businesses, including branded manufacturers or whether it's a small time manufacturer or any type of wholesale dealer industrial product Guy.
All those kind of things to do would be to be should be part of this.
Okay got it.
Just one more question from me, saying this.
This quarter does that mean, you don't lose tango have gone back to Jan one and quarter on quarter.
Although these and part of that.
Here are the treasury. The average duration is approximately around three years. So typically what happens is in quarters, where you are governmental bodies are going up there tend to be mark to market net gains. So this particular quarter from December into March and bond deals.
Are you still finding right up about 40 50 basis points, whereas in the previous quarter and the March quarter last yesterday diverse what's happening because of impact of COVID-19.
We're actually on a decline.
Doors quarters, having exceptional gain and this particular quarter treasury gain was related to the Doj.
Yeah.
But that I mean, I think that should be looked on an annual basis. So I'm wondering if this year, we had about 149 five schools all forward on other income.
The one, particularly with the previous year.
Okay understood. Thank you that's it from.
Okay.
Yeah.
Yeah.
Thank you.
The next question is from the line of thought Haynesville sheets M. I T E asset management. Please go ahead.
Oh, hi, good evening.
Just one question in JD might be as well.
We have 13 million a misstatement.
So we kind of listing do you see it potentially getting Mike J.
J D.
And they need a means of any targets.
At this time.
Our year on year.
Okay.
So firstly on the listing side out of about 40 million and the things that they need.
Two 8 million Miss things as part of the universe. The remarks that does not mean that those particular listings are getting out of Japan, but there will definitely be present on <unk>.
These particular listings will have their progress Mr. Dong JD Mark also.
For example, if you are searching for powder coating machine manufacturer you will see list of manufacturers on Saturday.
For powder coating machines on JD, Mark, but the same manufacturers since we would have created their product catalog you will see their products on JD mall and some products you will be able to see who the exact salary. So all your manufacturers distributors wholesalers, even retailers for certain type of categories.
Good.
Primarily from the universe for JD mall.
Sean could you put some more granular detail in terms of do you have any interim target for the meeting for the phone.
Brilliant.
How much potentially listing how you're targeting and think what stayed with you.
And Diane.
No.
Sure.
Should've kept low creation is.
Two pronged.
One is businesses increased their businesses to create their own catalog and maintained at the other just proactively GUL and created a catalog of content enrichment.
So we're doing both.
Left to us probably I'd wish the wishes like we should have 6 million catalogs as the 6 million listings. So that's all it is.
So how do you just keep on keep at it and at some point you would have achieved significant progress in it.
As I as we speak appreciate what's the latest number of unique businesses with catalogs.
About 400000 businesses with rich tax loss there are another about 600000 businesses that's what.
It has been submitted catalogued those particular catalogs are getting utilization.
Overall on the platform there are about 40 million products in various catalogs off each of these million lifting.
And they're all true.
Yeah, they're all true.
Lifting.
Athletes to brand manufacturers, so that there would be a couple of million so by default Abbott grade capital because they're selling those particular brands and web we upgraded the catalog.
Sure.
Just to firm up here in terms of.
Yeah.
You shouldn't.
And initiative.
What is the total download it means that we have Canadian pardon me.
Thank you.
In terms of the mix tranquility.
Wonderful.
So I think that the second part of the question.
How many unique.
He says what do you have missed at this point of time.
You mean on Jeff Stein RGB micro G D market demand.
P. J D. Mark I thought you said that the universe of businesses, there's around there or what else seven to 8 million per day demand out of total Fabienne Hoffman with things that we have one now.
And out of those seven to 8 million, we are right now in the process of putting a game.
They're they still catalog.
About 80000, 90000 golf ball, we do be customer would be actively our paid customers as part of that.
Got it.
Yeah.
And in terms of downloads.
Excellent.
You download our App as I mentioned that we do.
They talked about a 20000, a day sort of average during <unk> P M.
I think it is worthy to look at that particular number in terms of absolute what's the number of downloads that picked up.
I'll give a few more months once you have these initiatives rolled out all predictions gaslog pre lease for downloading a lot that is when these numbers showed exponentially activity that is when it would be more.
I'm going to actually look at in terms of number of downloads at that time.
I appreciate that thank you so much and good luck.
Thank you.
Thank you.
That was the last question.
Can you do that.
I would now.
And the conference I want them establish a benson for closing comments.
Thank you everyone for joining us in case, you have any particularly seems to reach out to us we will do our best to address.
That's all my time and stay safe. Thank you so much.
Thank you on behalf of Nomura financial adviser to emphasize it keeps limited that concludes this conference. Thank you for joining US and you may now disconnect your lines.
Yeah.