Yatra Online Limited · NSE:YATRA
Yatra Online — Q4 FY24 Earnings Presentation
45 slides from Yatra Online's earnings presentation, May 31, 2024
Slide 1: Intimation to Stock Exchange cover letter
CIN NO: L63040MH2005PLC158404 May 31, 2024 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:
Slide 2: Yatra Online Limited Investor Presentation Q4-FY24/FY24
Yatra Online Limited Investor Presentation Q4-FY24/FY24 Yatra Online Limited | Corporate Presentation Private & Confidential
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 adve
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: Financial Performance Q4-FY24/FY24
FINANCIAL PERFORMANCE Q4-FY24/FY24 Yatra Online Limited | Corporate Presentation Private & Confidential 4
Slide 6: Q4-FY24 Financial Performance
Q4-FY24 Financial Performance Gross Adjusted Revenue from Revenue less Total Air Pax* Booking Revenue Operations Service Cost Transactions (‘000) INR 19,943 Mn INR 1,773 Mn INR 1,077 Mn INR 858 Mn 2,200 1,801 12% YoY (6%) YoY (10%) YoY (11%) YoY 2% YoY 4% YoY Adjusted EBITDA EBITDA Corporate Net Pro
Slide 7: FY24 Financial Performance
FY24 Financial Performance Gross Adjusted Revenue from Revenue less Total Air Pax* Booking Revenue Operations Service Cost Transactions (‘000) INR 75,884 Mn INR 6,565 Mn INR 4,223 Mn INR 3,359 Mn 8,637 6,945 13% YoY 13% YoY 7% YoY 11% YoY 6% YoY 17% YoY 24% YoY Adjusted EBITDA EBITDA Net Profit PAT
Slide 8: FY24 Actual Performance vs Analyst Estimates
FY24 Actual Performance vs Analyst Estimates Rs Mn Analyst 1 Analyst 2 Analyst 3 Analyst 4 Avg Estimates Actuals Variance Gross booking value 78,157 75,130 75,601 76,277 76,291 75,884 Expectations met Revenue 4,397 3,720 4,263 4,261 4,160 4,223 Expectations met Adjusted Revenue 6,519 6,633 6,576 6,5
Slide 9: Q4-FY24 and FY24 Financial & Operational Highlights
Q4-FY24 and FY 24 Financial & Operational Highlights • Yatra reported domestic air passenger growth of 24% YoY in FY24, which was ~2x of industry growth as the company continued to gain market share. • Strong quarter with 12% YoY growth in gross booking and 56 Mn of PAT. • For Q4-FY24, Yatra reporte
Slide 10: Historical Performance Trending
Historical Performance Trending Gross Bookings (INR Million) 75,884 67,373 34,290 17,830 19,943 2022 2023 2024 Q4 2023 Q4 2024 Adjusted Revenue (INR Million) 6,565 6,145 3,304 1,895 (6%) 1,773 2022 2023 2024 Q4 2023 Q4 2024 Yatra Online Limited | Corporate Presentation Private & Confidential 9
Slide 11: Historical Performance Trending
Historical Performance Trending Gross Air Bookings and Take Rate (INR Million) 70,000 64,950 12% 56,408 10% 60,000 10% 8% 8% 50,000 7% 7% 8% 40,000 27,649 6% 30,000 15,122 17,158 4% 20,000 10,000 2% - 0% 2022 2023 2024 Q4 2023 Q4 2024 Air Passenger Volumes (‘000) 6,945 5,601 3,706 1,725 1,801 2022 2
Slide 12: Historical Performance Trending
Historical Performance Trending Gross H&P Bookings and Take Rate (INR Million) 10,000 17% 8,740 20% 8,153 8,000 13% 13% 13% 13% 15% 6,000 3,479 10% 4,000 2,105 2,205 2,000 5% - 0% 2022 2023 2024 Q4 2023 Q4 2024 Room Nights-Gross Bookings Take Rate Hotel Room Nights (‘000) 1,753 1,692 1,018 425 399 2
Slide 13: Quarterly Consolidated Financial Performance
Quarterly Consolidated Financial Performance PARTICULARS (INR Mn) Q4-FY24 Q4-FY23 YoY Revenue from Operations (A) 1,077 1,191 (10%) Revenue less service cost (B) 858 966 (11%) Other Income* ('C) 49 22 122% Operating Expenses (D) 752 750 0% Adjusted EBITDA (E = B+C-D) 155 239 (35%) Adjusted EBITDA Ma
Slide 14: Full year Consolidated Financial Performance
Full year Consolidated Financial Performance PARTICULARS (INR Mn) YTD Mar'24 YTD Mar'23 YoY Revenue from Operations (A) 4,223 3,802 11% Revenue less service cost (B) 3,359 3,157 6% Other Income* ('C) 102 145 (30%) Operating Expenses (D) 2,928 2,632 11% Adjusted EBITDA (E = B+C-D) 534 670 (20%) Adjus
Slide 15: Consolidated Historical Financial Performance
Consolidated Historical Financial Performance Revenues (INR Mn) EBITDA (INR Mn) PAT (INR Mn) 76 4,223 3,802 512 FY22 FY23 FY24 -45 1,981 273 42 -308 FY22 FY23 FY24 FY22 FY23 FY24 Net worth (INR Mn) ROE and ROCE (%) Net Debt to Equity Ratio (x) 7,475 22.3% 0.30 2.9% 4.3% -0.6% 4.5% FY22 FY23 FY24 FY2
Slide 16: Recent Developments
Recent Developments Yatra Online Limited | Corporate Presentation Private & Confidential 15
Slide 17: Launch of Expense Management Solution
Launch of Expense Management Solution Gen AI-powered Expense Management for SMEs and Large Enterprises SUPPORTING BUSINESSES TO MANAGE EMPLOYEE TAX BENEFITS AND EXPENSES AT ONE PLACE Automatic expense reporting Approve expenses in real-time Compliance with Company • OCR converts printed text to data
Slide 18: Revamped Domestic Flight Booking Flow
Revamped Domestic Flight Booking Flow Enabling better Upselling and Cross selling of Ancillary Products SEAMLESS AND INTUITIVE BOOKING EXPERIENCE Multi Fare Option Travel Insurance At The point of Premium Seat Selection • User-friendly layout, faster loading Booking • Our customers can now easily se
Slide 19: Launched Guesthouse Booking Platform for Corporates
Launched Guesthouse Booking Platform for Corporates HIGH QUALITY FULLY EQUIPPED LODGING OPTIONS ▪ Platform has the capability of Integrating both Corporate and Yatra Contracted guesthouses in a single view. Hybrid Model of Yatra and Corporate Contracted ▪ Enhances the overall experience of corporate
Slide 20: About Yatra
About Yatra Yatra Online Limited | Corporate Presentation Private & Confidential
Slide 21: Yatra – At a Glance
Yatra – At a Glance 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-channel appro
Slide 22: 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 23: Unique Multi channel approach
Unique Multi channel approach 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 Platform B2B - Corporate B2C
Slide 24: India's Leader in B2B Travel
India’s Leader in B2B Travel ▪ 18 years of travel experience with 10 years of specialization in Industry overview Corporate Travel US$32B 13,000+ Indian Corporate Travel Market Size Total Corporate Customers ▪ India’s leading B2B Corporate platform by total spend and number of customers ▪ Proprietar
Slide 25: One of India's Largest OTA Platforms
1 One of India’s Largest OTA Platform ▪ Yatra is one of the most well recognized travel brands in the Industry country, 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% of our total traffic
Slide 26: Continued Improvement in Operating Leverage
2 Continued Improvement in Operating Leverage Fixed Cost Summary (INR Million) 7,000 42% 6,565 45% 6,145 6,000 40% 29% 35% 5,000 28% 28% 30% 24% 4,000 3,304 25% 3,000 20% 1,733 1,863 1,895 1,773 15% 2,000 1,394 10% 1,000 461 523 5% - 0% 2022 2023 2024 Q4 FY23 Q4 FY24 Fixed Cost Adjusted Revenue Fixe
Slide 27: Comprehensive and Scalable Tech Platform Providing Seamless Customer Experience
3 Comprehensive and Scalable Tech Platform Providing Seamless Customer Experience Dedicated team with domain expertise focused on evolving technologies User Interface ▪ Website and mobile app that have exploring, searching and booking capabilities ▪ Virtual assistance for real-time customer assistan
Slide 28: Strong Management Team with Proven Execution Capabilities
4 Strong Management Team with Proven Execution Capabilities Management Team 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 accountant ▪ He holds a general
Slide 29: Ensuring Highest Level of Corporate Governance
5 Ensuring Highest Level of Corporate Governance Audited by one of the Compliance with SEC big 4 firms for more rules required for than 15 years foreign issuer Experience of managing public listed company and external shareholders Big 4 firms acting as 3 independent directors internal audit and SOX
Slide 30: Multiple Levers to Deliver Sustainable Growth
6 Multiple Levers to Deliver Sustainable Growth Key levers driving business growth Levers to deliver sustainable growth 1 2 3 4 Sticky Corporate Business Strong Brand Recall Ability to cross-sell to large Industry Leading Supply of ▪ Market Leader in large Corp Travel corporate base domestic hotels
Slide 31: Yatra Corporate Business
Yatra Corporate Business Yatra Online Limited | Corporate Presentation Private & Confidential
Slide 32: Highly fragmented Corporate travel market, Massively Underpenetrated
Highly fragmented Corporate travel market, Massively Underpenetrated – Yatra largest player Indian Corporate Total Travel and Entertainment Spends (INR Bn) Highly Fragmented Corporate Travel Market 12-14% CAGR 12% CAGR 5000 3050 2150 2017 2020 2025E B2B Market expected to grow at 2x the overall trav
Slide 33: Corporate Business – Driven by Deep Tech Capabilities and Customer Stickiness
Corporate Business – Driven by Deep Tech Capabilities and Customer Stickiness Multi platform-based cloud system ▪ User Friendly Self Booking Platform ▪ ~98% corporate customer retention rate Web based solution accessible across platforms and updated ▪ Cost reduction – improving profitability for cus
Slide 34: The Platform Delivers Compelling Value to Customers and Suppliers
The Platform Delivers Compelling Value to Customers and 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 travel spends visibility, cost savings
Slide 35: Access to Multiple Revenue Streams
Access to Multiple Revenue Streams 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 – Revenue mix – Income such as Deposit GDS income – Revenue r
Slide 36: Growing Catalogue of Loyal, Blue-Chip Customers
Growing Catalogue of Loyal, Blue-Chip Customers ~98% ~65% 91% Transactions for domestic travel Corporate customer retention of top 100 customers have tenure done by employees of corporates rate(1) of 3+ years on the platform 1 of 4 3 of 4 3 of 5 Top 100 listed companies in India Largest technology c
Slide 37: 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 – 200.00 Share of Personal Booking 9.0% ▪ 7+ Mn educated individuals employed by the corporates that we service 180.00 8.0%
Slide 38: Yatra Consumer Business
Yatra Consumer Business Yatra Online Limited | Corporate Presentation Private & Confidential
Slide 39: Consumer Travel Market Growing at ~2x of GDP
Consumer Travel Market Growing at ~2x of GDP Indian B2C Travel Market (on Net revenue) at 10-12% CAGR – Expanding Internet Penetration (# Million) Gross Bookings INR Bn 10-12% CAGR 4% CAGR 8% CAGR 1210 1157 86 970 52 1080 750 302 FY20 FY25E FY15 FY20 FY25P Mobile consumer Broadband consumer India Pe
Slide 40: Scaled Up B2C Business – Yatra One of the Most Well Recognized Travel Brands
Scaled Up B2C Business – Yatra One of the Most Well Recognized Travel Brands in India 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 reflected in the fact that over 93% of our total traf
Slide 41: B2C Growth Driven by Deeper Online Penetration and Category Expansion
B2C Growth Driven by Deeper Online Penetration and Category Expansion Yatra Well Capitalized to Take Advantage of Growth in Consumer Segment Through Existing Infrastructure and Tie Ups ~15 Million Cumulative Customers Served Since Inception (Million) Largest Hotel Listings in the Country with ~108k
Slide 42: Capital Market Data
Capital Market Data Stock Performance (Up to 31st March, 2024) 40.0% 30.0% 20.0% 10.0% 0.0% -10.0% Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Yatra.com Sensex Shareholding Pattern as on 31st March, 2024 Price Data (As on 31st March, 2024) INR Face Value 1.00 Promoters 64.46% CMP 143.2 Market C
Slide 43: 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 44: Investor Relations Contact
Investor Relations Contact For further details please feel free to contact our Investor Relations Representatives: Mr. Manish Hemrajani VP - Corporate Development & Investor Relations Email: manish.Hemrajani@yatra.com Yatra Online Limited Mr. Anuj Sonpal Valorem Advisors Tel: +91-22-49039500 Email:
Slide 45: Thank You
Thank You Yatra Online Limited | Corporate Presentation Private & Confidential