{"id":138879,"date":"2023-01-20T09:01:37","date_gmt":"2023-01-20T14:01:37","guid":{"rendered":"https:\/\/44.250.171.167\/?p=138879"},"modified":"2023-01-20T09:01:39","modified_gmt":"2023-01-20T14:01:39","slug":"just-dial-ltd-q3-fy23-earnings-conference-call-insights","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/just-dial-ltd-q3-fy23-earnings-conference-call-insights\/","title":{"rendered":"Just Dial Ltd Q3 FY23 Earnings Conference Call Insights"},"content":{"rendered":"<p><span class=\"embed-youtube\" style=\"text-align:center; display: block;\"><iframe loading=\"lazy\" class=\"youtube-player\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/wlkYjF8_xzc?version=3&#038;rel=1&#038;showsearch=0&#038;showinfo=1&#038;iv_load_policy=1&#038;fs=1&#038;hl=en-US&#038;autohide=2&#038;wmode=transparent\" allowfullscreen=\"true\" style=\"border:0;\" sandbox=\"allow-scripts allow-same-origin allow-popups allow-presentation allow-popups-to-escape-sandbox\"><\/iframe><\/span><\/p>\n<p><strong>Key highlights from Just Dial Ltd (<a href=\"https:\/\/44.250.171.167\/symbol\/JUSTDIAL\/\">JUSTDIAL<\/a>) Q3 FY23 Earnings Concall<\/strong><\/p>\n<p><strong>Management Update:<\/strong><\/p>\n<ul>\n<li>[00:01:20] JUSTDIAL said its employee expenses increased 29% YonY, led by 39% YoY increase in headcount across sales, technology, product, content and marketing functions.<\/li>\n<\/ul>\n<ul>\n<li>[00:03:56] JUSTDIAL stated traffic stood at 156.8 million unique users for 3Q23. The company also added that about 86% of its traffic comes from mobile platform.<\/li>\n<\/ul>\n<p><strong>Q&amp;A Highlights:<\/strong><\/p>\n<ul>\n<li>[00:06:26] Amarnath Bhakat of MoF Oman asked about utilization of INR4,000 crore of cash. V.S.S. Mani MD said JUSTDIAL is focusing on its core business that is FCF generating, while also pursuing new initiatives. A part of the cash could be used for promotion of new initiatives or any other inorganic opportunities that come along.<\/li>\n<\/ul>\n<ul>\n<li>[00:19:09] Nikhil Choudhary from Nuvama asked about the progress of intangible under development and if JUSTDIAL is capitalizing at the same run rate and its duration. \u00a0V.S.S. Mani MD replied that the capitalization during 3Q was about INR5 crores, totaling to about INR27 crores. These projects are built in phased manner and it should get expensed over useful life of 2-3 years.<\/li>\n<\/ul>\n<ul>\n<li>[00:21:04] Mohit Motwani from Nuvama enquired about paid campaigns run for last few quarters, what kind of renewals were seen in these additions. V.S.S. Mani MD said that 55% of the paid campaigns are monthly plans, which are more affordable to customers and involve a smaller monthly payout instead of one large sum.<\/li>\n<\/ul>\n<ul>\n<li>[00:31:27] Hemal S asked about the total collection amount in 3Q23. \u00a0V.S.S. Mani MD replied that it was INR245 crores vs. INR230 crores in 2Q23 and in 3Q22 it was INR150 crores.<\/li>\n<\/ul>\n<ul>\n<li>[00:32:29] Hemal S also asked about the captive paid campaign happening but growth slowing down and if it\u2019s a concern. V.S.S. Mani MD answered that JUSTDIAL added over 18,000 campaigns in October, which was less than the usual amount due to the festival season. The company expects to see healthy additions in future quarters.<\/li>\n<\/ul>\n<ul>\n<li>[00:34:44] Hemal S asked about the average yield expected for FY24. Abhishek Bansal CFO replied that portfolio&#8217;s yield to maturity at this point of time is around 7.2%-7.3% and a duration of about 3-3.2 years as all MF investments become tax efficient once it crosses\u00a0 years.<\/li>\n<\/ul>\n<ul>\n<li>[00:35:29] Vivekanand Subbaraman from Ambit enquired about the split of revenue and campaigns, top 11 vs. rest of the maket. Abhishek Bansal CFO replied that top 11 cities contributed about 62% to revenue and 42% to paid campaigns.<\/li>\n<\/ul>\n<ul>\n<li>[00:35:45] Vivekanand Subbaraman from Ambit asked about the A&amp;P and guidance for FY23 and FY24. Abhishek Bansal CFO answered that in a steady state, JUSTDIAL wants to spend around 6-7% of the company\u2019s topline on advertising spends. In FY23, the company spent more on ramping sales teams. For next year, it will be budgeted around 6%, 7%.<\/li>\n<\/ul>\n<ul>\n<li>[00:35:51] Vivekanand Subbaraman from Ambit asked about the estimated realizable value of collections. Abhishek Bansal CFO said that last quarter it was about INR260-265 crores, slightly short of INR270 crores the previous quarter. Therefore, JUSTDIAL is about 15-18% higher vs. pre-COVID levels, certain months are 20% higher vs. pre-COVID.<\/li>\n<\/ul>\n<ul>\n<li>[00:43:10] \u00a0Rupesh Tatiya at Intelsense enquired about margin target for FY24. Abhishek Bansal CFO answered that JUSTDIAL doesn\u2019t provide a specific margin guidance, but pre-COVID the company used to operate at around 25-28% sort of margins. JUSTDIAL believes it coming closer to pre-COVID type of margin levels by next year same quarter.<\/li>\n<\/ul>\n<ul>\n<li>[01:03:23] Vivekanand Subbaraman from Ambit asked about the headcount deputed to the projects under development. Abhishek Bansal CFO replied that the headcount attributed to these projects will be sub 200 or so.<\/li>\n<\/ul>\n<ul>\n<li>[01:05:22] \u00a0Sarang Sanil from RW Investment enquired about the breakup of revenue and paid campaigns into Tier 1 and 2,3. Abhishek Bansal CFO answered that Tier 1 cities contributed about 62% to revenues and by paid campaigns, it contributed about 42%.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key highlights from Just Dial Ltd (JUSTDIAL) Q3 FY23 Earnings Concall Management Update: [00:01:20] JUSTDIAL said its employee expenses increased 29% YonY, led by 39% YoY increase in headcount across sales, technology, product, content and marketing functions. [00:03:56] JUSTDIAL stated traffic stood at 156.8 million unique users for 3Q23. The company also added that about [&hellip;]<\/p>\n","protected":false},"author":1767,"featured_media":125416,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"Just Dial Ltd Q3 FY23 Earnings Conference Call Insights #JUSTDIAL #Q3 #FY23 #Earnings #Stocks","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9825,392,8],"tags":[10169,8829],"class_list":["post-138879","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-call-highlights","category-earnings","category-technology-stocks","tag-earnings","tag-internet-content-information"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":124280,"url":"https:\/\/alphastreet.com\/india\/just-dial-ltd-justdial-q1-fy21-earnings-concall\/","url_meta":{"origin":138879,"position":0},"title":"Just Dial Ltd (JUSTDIAL)  Q1 FY21 Earnings Concall","author":"Sahil_Anand","date":"July 19, 2021","format":false,"excerpt":"Just Dial Ltd (NSE:JUSTDIAL) Q1 FY21 Earnings Concall dated\u00a0Jul. 19, 2021","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/Just-Dial-Ltd-Q1-FY21-Earnings-Concall.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/Just-Dial-Ltd-Q1-FY21-Earnings-Concall.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/Just-Dial-Ltd-Q1-FY21-Earnings-Concall.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/Just-Dial-Ltd-Q1-FY21-Earnings-Concall.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/Just-Dial-Ltd-Q1-FY21-Earnings-Concall.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/Just-Dial-Ltd-Q1-FY21-Earnings-Concall.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":149182,"url":"https:\/\/alphastreet.com\/india\/justdial-ltd-q1-fy24-33-rise-in-revenue\/","url_meta":{"origin":138879,"position":1},"title":"JustDial Ltd Q1 FY24; 33% Rise In Revenue","author":"Hardik Bhandare","date":"July 14, 2023","format":false,"excerpt":"Justdial is the market leader in local search engine segment in India. 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