Yatra Online Limited · NSE:YATRA
Yatra Online — Q3 FY2024 Earnings Presentation
39 slides from Yatra Online's earnings presentation, Feb 14, 2024
Slide 1: Intimation to Stock Exchange cover letter
February 14, 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: 543992 ISIN No.: INE0JR60
Slide 2: Yatra Online Limited Investor Presentation Q3-2024
Yatra Online Limited Investor Presentation Q3-2024 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: About Yatra
About Yatra Yatra Online Limited | Corporate Presentation Private & Confidential
Slide 6: 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 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 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 9: Yatra Overview: India's Leader in B2B Travel
India’s Leader in B2B Travel ▪ 16 years of travel experience with 8 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 ▪ Proprietary
Slide 10: Yatra Overview: One of India's Largest OTA Platform
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 co
Slide 11: Continued Improvement in Operating Leverage
2 Continued Improvement in Operating Leverage Fixed Cost Summary (INR Million) 6,000 64% 5,578 70% 5,000 60% 47% 50% 4,000 2,970 32% 40% 3,000 29% 30% 30% 1,871 1,764 2,000 1,394 1,481 1,625 1,204 20% 1,000 434 490 10% - 0% 2021 2022 2023 Q3 FY23 Q3 FY24 Fixed Cost Adjusted Revenue Fixed Cost/Adjust
Slide 12: 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 13: 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 14: 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 15: 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 16: Yatra Corporate Business
Yatra Corporate Business Yatra Online Limited | Corporate Presentation Private & Confidential
Slide 17: 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 2020E 2025E B2B Market expected to grow at 2x the overall tra
Slide 18: 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 19: 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 20: 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 21: 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 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 Yatra Online Limited | Corporate Presentation Private & Confidential
Slide 24: Share of OTA Industry within the Overall Travel Market to Increase Further
Share of OTA Industry within the Overall Travel Market to 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 9.2% CAGR online market 1,600 990 60% decline due to Covid 920 1,010 2,400 (71%) 1,490 (60%) 370 680 (4
Slide 25: 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 FY20E FY25P Mobile consumer Broadband consumer India P
Slide 26: 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 90% of our total traf
Slide 27: 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 ~14 Million Cumulative Customers Served Since Inception (Million) Largest Hotel Listings in the Country with ~106k
Slide 28: Financial Performance Q3/9M-FY24
FINANCIAL PERFORMANCE Q3/9M- FY24 Yatra Online Limited | Corporate Presentation Private & Confidential 27
Slide 29: Q3-FY24 Financial Performance
Q3-FY24 Financial Performance Revenue from Revenue less EBITDA Adjusted EBITDA Net Profit PAT Operations Service Cost Margin EBITDA Margin INR 1,103 Mn INR 834 Mn INR 100 Mn INR 48 Mn 6% INR 11 Mn 1% 23% YoY 19% YoY -11% +19%YoY YoY -25% YoY 119% YoY Gross Air Pax* Total Corporate Diluted Booking (‘
Slide 30: Q3-FY24 Financial & Operational Highlights
Q3-FY24 Financial & Operational Highlights Q3-FY24 Financial Highlights: ● Yatra has registered strong growth of 23.1% YoY growth in revenue from operations of INR 1,103.4 Million in Q3-FY24. ● Net Profit of INR 11 Million increased by 119% YoY resulting in a Diluted EPS of INR 0.07. ● Gross debt re
Slide 31: Historical Performance Trending
Historical Performance Trending Gross Bookings (INR Million) 67,373 34,290 15,816 15,798 18,605 2021 2022 2023 Q3 2023 Q3 2024 Adjusted Revenue (INR Million) 5,578 2,970 1,871 1,625 1,481 2021 2022 2023 Q3 2023 Q3 2024 Yatra Online Limited | Corporate Presentation Private & Confidential 30
Slide 32: Historical Performance Trending
Historical Performance Trending Gross Air Bookings and Take Rate (INR Million) 60,000 11% 56,408 12% 50,000 10% 8% 8% 8% 40,000 7% 8% 27,649 30,000 6% 20,000 13,248 16,096 4% 13,002 10,000 2% - 0% 2021 2022 2023 Q3 2023 Q3 2024 Air Passenger Volumes (‘000) 5,601 3,706 2,623 1,659 1,320 2021 2022 202
Slide 33: Historical Performance Trending
Historical Performance Trending Gross H&P Bookings and Take Rate (INR Million) 10,000 25% 20% 8,153 8,000 17% 20% 13% 13% 13% 6,000 15% 4,000 3,479 10% 1,704 1,913 1,966 2,000 5% - 0% 2021 2022 2023 Q3 2023 Q3 2024 Room Nights-Gross Bookings Take Rate Hotel Room Nights (‘000) 1,753 1,018 547 398 362
Slide 34: Quarterly Consolidated Financial Performance
Quarterly Consolidated Financial Performance PARTICULARS (INR Mn) Q3-FY24 Q3-FY23 YoY Revenue from Operations (A) 1,103 897 23% Revenue less service cost (B) 834 702 19% Other Income* ('C) 11 40 -71% Operating Expenses (D) 746 630 18% Adjusted EBITDA (E = B+C-D) 100 112 -11% Adjusted EBITDA Margin (
Slide 35: Consolidated Historical Financial Performance
Consolidated Historical Financial Performance Revenues (INR Mn) EBITDA (INR Mn) PAT (INR Mn) 3,802 511 76 3,146 164 FY21 FY22 FY23 9M FY24 42 -101 1,981 -308 FY21 FY22 FY23 9M FY24 1,254 -570 -1,189 FY21 FY22 FY23 9M FY24 Net Debt to Equity Ratio (x) Net worth (INR Mn) ROE and ROCE (%) 7,422 0.30 22
Slide 36: Capital Market Data
Capital Market Data Stock Performance (Up to 13th February, 2024) 40.0% 30.0% 20.0% 10.0% 0.0% -10.0% Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Yatra.com Sensex Shareholding Pattern as on 31st December, 2023 Price Data (As on 13th February, 2024) INR Face Value 1.00 Promoters 64.46% CMP 168.5 Market Cap (I
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
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 39: Thank You
Thank You Yatra Online Limited | Corporate Presentation Private & Confidential