Yatra Online Limited · NSE:YATRA
Yatra Online — Q1 FY24 Earnings Presentation
39 slides from Yatra Online's earnings presentation, Oct 16, 2023
Slide 1: Intimation to Stock Exchange cover letter
October 16, 2023 Listing Manager, Manager - CRD National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1 Block G Phiroze Jeejeebhoy Towers Bandra Kurla Complex, Bandra (E) Dalal Street, Mumbai – 400051, India Mumbai – 400001, India Symbol: YATRA Scrip Code: 543992 ISIN No.: INE0JR601
Slide 2: Earnings Presentation Q1-FY24
Yatra Online Limited Yatra Online Limited EARNINGS PRESENTATION Q1-FY24
Slide 3: Disclaimer 1/2
DISCLAIMER 1/2 ▪ The information contained in this presentation is for information purposes only without regard to specific objectives, financial situations or needs of any particular persons. This presentation is not a prospectus, a statement in lieu of a prospectus, an offering circular, an advert
Slide 4: Disclaimer 2/2
DISCLAIMER (2/2) ▪ This presentation contains information from the industry report titled " Assessment of the travel industry in India” dated August, 2023 prepared by CRISIL Research, a division of CRISIL Limited (“CRISIL”). CRISIL has required us to include the following disclaimer in connection wi
Slide 5: About Yatra
ABOUT YATRA
Slide 6: Yatra – At a Glance
YAT R A – AT A G L A N C E Business Overview ▪ Founded in 2006 having a long demonstrable history of building scalable businesses Zero to billion $ TTV ▪ Go-to-market strategy that spans the entire value chain of travel and hospitality covering B2C and B2B segments in 10 years ▪ Yatra’s multi-channe
Slide 7: Key Highlights
KEY HIGHLIGHTS Unique “go-to-market” strategy that spans across the entire value chain of travel and hospitality Comprehensive and scalable Tech platform providing seamless ▪ Largest Corporate travel services provider; customer experience 1 5 ▪ One of the largest OTA Corporate Business – Strong Corp
Slide 8: Unique Multichannel Approach
U N I Q U E M U LT I C H A N N E L A P P R O A C H While other Indian OTAs focus mainly on the B2C segment, we deliver a full suite of leisure and corporate offering that enables us to target travelers holistically and get better leverage on customer acquisition and technology cost The Yatra Platfor
Slide 9: India's Leader in B2B Travel
I N D I A’ S L E A D E R I N B 2 B T R AV E L ▪ 16 years of travel experience with 8 years of specialization in Corporate Travel US$32B 13,000+ Industry overview Indian Corporate Travel Market Size Total Corporate Customers ▪ India’s leading B2B Corporate platform by total spend and number of custom
Slide 10: One of India's Largest OTA Platforms
O N E O F I N D I A’s L A R G E S T O TA P L AT F O R M S ▪ Yatra is one of the most well recognized travel brands in the country, Industry having won numerous awards US$19B ~38% B2C Travel Market Size Online penetration for Air and Hotel ▪ A one-stop-shop for customers leisure travel needs ▪ ~90% o
Slide 11: Continued Improvement in Operating Leverage
C O N T I N U E D I M P R O V E M E N T I N O P E R AT I N G L E V E R A G E Fixed Cost Summary (INR Million) 6,000 5,578 70% 64% 5,000 60% 47% 50% 4,000 2,970 32% 34% 40% 3,000 24% 1,871 30% 2,000 1,764 1,394 1,498 20% 1,204 1,149 1,000 388 363 10% 0 0% 2021 2022 2023 Q1'23 Q1'24 Fixed Cost Adjuste
Slide 12: Comprehensive and Scalable Technology Platform
C O M P R E H E N S I V E A N D S C A L A B L E T E C H P L AT F O R M P R O V I D I N G SEAMLESS CUSTOMER EXPERIENCE Dedicated team with domain expertise focused on evolving technologies ▪ Website and mobile app that have exploring, searching and booking capabilities User Interface ▪ Virtual assist
Slide 13: Strong Management Team with Proven Execution Capabilities
S T R O N G M A N A G E M E N T T E A M W I T H P R O V E N E X E C U T I O N C A PA B I L I T I E S Dhruv Shringi Manish Amin Rohan Mittal Sabina Chopra Darpan Batra Whole-time Director and CEO Chief Information and Technology Officer CFO COO (Corporate) Company Secretary ▪ He is a chartered accoun
Slide 14: Ensuring Highest Level of Corporate Governance
E N S U R I N G H I G H E S T L E V E L O F C O R P O R AT E G O V E R N A N C E Audited by one of the big Compliance with SEC rules 4 firms for more than 15 required for foreign issuer years Experience of managing public listed company and external shareholders Big 4 firms acting as 3 independent d
Slide 15: Multiple Levers to Deliver Sustainable Growth
M U LT I P L E L E V E R S T O D E L I V E R S U S TA I N A B L E G R O W T H KEY LEVERS DRIVING BUSINESS GROWTH 1 2 3 4 Sticky Corporate Business Strong Brand Recall Ability to cross-sell to large Industry Leading Supply of corporate base domestic hotels ▪ Market Leader in large Corp ▪ Benefitting
Slide 16: Yatra Corporate Business
YATRA CORPORATE BUSINESS
Slide 17: Highly Fragmented Corporate Travel Market
H I G H LY F R A G M E N T E D C O R P O R AT E T R AV E L M A R K E T, M A S S I V E LY U N D E R P E N E T R AT E D – YAT R A L A R G E S T P L AY E R Indian Corporate Total Travel and Entertainment Spends (INR Bn) Highly Fragmented Corporate Travel Market 12-14% CAGR 12% CAGR 5000 3050 2150 2017
Slide 18: Corporate Business – Driven by Deep Tech and Customer Stickiness
C O R P O R AT E B U S I N E S S – D R I V E N B Y D E E P T E C H C A PA B I L I T I E S AND CUSTOMER ST I CKI NESS Multi platform-based cloud system ▪ User Friendly Self Booking Platform ▪ ~98% corporate customer retention rate Web based solution accessible across platforms and updated ▪ Cost redu
Slide 19: Platform Delivers Compelling Value to Customers and Suppliers
T H E P L AT F O R M D E L I V E R S C O M P E L L I N G VA L U E T O C U S T O M E R S A N D SUPPLIERS What We Do for Customers What We Do for Suppliers Fully integrated travel and expenses management platform Wide access to different customer bases ▪ Integrated end to end solutions enabling full t
Slide 20: Access to Multiple Revenue Streams
A C C E S S T O M U LT I P L E R E V E N U E S T R E A M S Convenience fee Fees, incentives and extras Management fee GDS revenue Customers Suppliers Product and services revenue Marketing and other revenue 1 2 3 4 5 6 Less dependency on Diversified revenue base – No Revenue mix – Income such as Dep
Slide 21: Growing Catalogue of Loyal, Blue-Chip Customers
G R O W I N G C ATA L O G U E O F L O YA L , B L U E - C H I P C U S T O M E R S 65% 91% ~98% Transactions for domestic travel done of top 100 customers have tenure of Corporate customer retention rate(1) by employees of corporates on the 3+ years platform 1 of 4 3 of 4 3 of 5 Top 100 listed compani
Slide 22: Cross-Sell Opportunity Driving Down Customer Acquisition Costs
Cross-Sell Opportunity Driving Down Customer Acquisition Costs ▪ 2 Future Growth Opportunities Cross Utilization of Corporate Tool for Personal Bookings by Employees Cross Sell – Share of Personal Booking ▪ 7+ Mn educated individuals employed by the corporates that we service ▪ Pertaining to high in
Slide 23: Yatra Consumer Business
YATRA CONSUMER BUSINESS
Slide 24: Share of OTA Industry Within Overall Travel Market to Increase
S H A R E O F O TA I N D U S T R Y W I T H I N T H E O V E R A L L T R AV E L M A R K E T T O INCREASE FURTHER (All numbers in INR Bn) Indian Travel Industry Overview (INR Billion) 7.9% CAGR overall 3,360 market 960 2,480 12.7% CAGR online 9.2% CAGR market 1,600 990 60% decline due to Covid 920 1,01
Slide 25: Consumer Travel Market Growing at ~X of GDP
C O N S U M E R T R AV E L M A R K E T G R O W I N G AT ~ 2 X O F G D P Indian B2C Travel Market (on Net revenue) – Gross Bookings INR Bn Expanding Internet Penetration (# Million) 4% CAGR 10-12% CAGR 8% CAGR 1210 1157 86 970 52 750 302 1080 FY20 FY25E FY15 FY20E FY25P Mobile consumer Broadband cons
Slide 26: Scaled Up B2C Business – Yatra One of Most Recognized Travel Brands
S C A L E D U P B 2 C B U S I N E S S – YAT R A O N E O F T H E M O S T W E L L R E C O G N I Z E D T R AV E L B R A N D S I N I N D I A Our Leading Market Position and Operational History have led to Widescale Recognition of the “Yatra” Brand Superior Brand Awareness The strength of the brand is re
Slide 27: B2C Growth Driven by Deeper Online Penetration and Category Expansion
B 2 C G R O W T H D R I V E N B Y D E E P E R O N L I N E P E N E T R AT I O N A N D C AT E G O R Y E X PA N S I O N Yatra Well Capitalized to Take Advantage of Growth in Consumer Segment Through Existing Infrastructure and Tie Ups ~14 Million Cumulative Customers Served Since Inception (Million) La
Slide 28: Financial Performance Q1-FY24
FINANCIAL PERFORMANCE Q1- FY24
Slide 29: Q1-FY24 Financial Highlights
Q1-FY24 FINANCIAL HIGHLIGHTS Revenue from Revenue less EBITDA EBITDA Net Profit PAT Margin Diluted Operations Service Cost Margin EPS INR 1,102 Mn INR 885 Mn INR 177Mn 16% INR 60 Mn 5.46% INR 0.52 +24% YoY +19% +18% YoY YoY +28% YoY 47 Bps +3% YoY (111) Bps Air Pax* Total Corporate Gross (‘000) Tran
Slide 30: Q1-FY24 Operational Highlights
Q 1 - F Y 2 4 O P E R AT I O N A L H I G H L I G H T S • Strongest quarter on the air front since the advent of COVID with the highest number of Air Passengers booked since pre-COVID in December 2019, up 41.5% YoY far outpacing domestic air passenger industry growth of 14.8% YoY. • Fortified leaders
Slide 31: Historical Performance Trending
HI STORI CAL PE RFORMANCE T R E NDI NG Gross Bookings (INR Million) 67,373 34,290 17,858 11% 19,832 15,816 2021 2022 2023 Q1'2023 Q1'2024 Adjusted Margin (INR Million) 5,578 88% 2,970 59% 1,871 30% 1,498 1,149 2021 2022 2023 Q1'2023 Q1'2024 EARNINGS PRESENTATION Q1-FY24 30
Slide 32: Historical Performance Trending – Air
HI STORI CAL PE RFORMANCE T R E NDI NG Gross Air Bookings and Take Rate (INR Million) 60,000 56,408 15% 50,000 11% 8% 40,000 8% 10% 27,649 5% 7% 30,000 20,000 14,838 16,924 5% 13,002 10,000 - 0% 2021 2022 2023 Q1'2023 Q1'2024 Air Ticketing- Gross Bookings Take rate Air Passenger Volumes (‘000) 5,601
Slide 33: Historical Performance Trending – Hotels and Packages
HI STORI CAL PE RFORMANCE T R E NDI NG Gross H&P Bookings and Take Rate (INR Million) 10,000 25% 20% 8,153 8,000 17% 20% 13% 14% 6,000 15% 13% 4,000 3,479 10% 2,195 2,401 1,704 2,000 5% - 0% 2021 2022 2023 Q1'2023 Q1'2024 Room Nights- Gross Bookings Take rate Hotel Room Nights (‘000) 1,753 72% 86% 1
Slide 34: Quarterly Consolidated Financial Performance
Q U A R T E R LY C O N S O L I D AT E D F I N A N C I A L P E R F O R M A N C E PARTICULARS (INR Mn) Q1-FY24 Q1-FY23 YoY Revenue from Operations 1,102 890 23.8% Other Income 17 20 (15.9)% Operating Expenses 942 771 22.1% EBITDA 177 138 27.6% EBITDA Margin (%) 16.03% 15.56% 47 Bps Finance Cost 63 30
Slide 35: Consolidated Historical Financial Performance
C O N S O L I D AT E D H I S T O R I C A L F I N A N C I A L P E R F O R M A N C E Revenues (INR Mn) EBITDA (INR Mn) PAT (INR Mn) 3,802 511 76 60 177 FY21 FY22 FY23 Q1 24 42 1,981 -308 FY21 FY22 FY23 Q1 24 1,254 1,102 -570 -1,189 FY21 FY22 FY23 Q1 24 Net Debt to Equity Ratio (x) Net worth (INR Mn) R
Slide 36: Capital Market Data
C A P I TA L M A R K E T D ATA Stock Performance 6% 4% 2% 0% -2% -4% -6% Sep-23 Sep-23 Sep-23 Oct-23 Oct-23 Oct-23 Oct-23 Oct-23 Oct-23 Oct-23 Oct-23 Oct-23 Oct-23 Oct-23 Yatra.com Sensex Shareholding Pattern as on 30st September, 2023 Price Data (As on 30th September, 2023) INR Face Value 1.0 Promo
Slide 37: Glossary
Glossary Term Description Term Description Gross booking revenue is defined as the total amount paid by customers for Gross Booking B2B Business to Business travel services and products booked through the OTAs including taxes, fees Revenue and other charges, and is net of cancellations, discounts an
Slide 38: Investor Relations Contact
I N V E S T O R R E L AT I O N S C O N TA C T For further details please feel free to contact our Investor Relations Representatives: Mr. Manish Hemrajani VP - Corporate Development & Investor Relations of Yatra Online, Inc. (The Ultimate Holding Company) Email: manish.Hemrajani@yatra.com Yatra Onli
Slide 39: Thank You
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