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					Investor Presentation
      November 2011
Safe Harbor Statement

Certain statements contained in this presentation are “forward-looking statements” within the meaning of the safe harbor
provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements reflect our current expectations or
forecasts of future events and our future performance and do not relate directly to historical or current events or our historical or
current performance and are subject to risks and uncertainties, some of which are outside of our control, that could cause actual
outcomes and results to differ materially from historical results or current expectations. Most of these statements contain words
that identify them as forward looking, such as “anticipate”, “estimate”, “expect”, “project”, “intend”, “plan”, “believe”, “seek”,
“will”, “may”, “opportunity”, “target” or other words that relate to future events, as opposed to past or current events. Among
the factors that could cause actual results to differ materially are our ability to maintain and expand our supplier relationships; our
reliance on technology, our ability to expand our business, implement our strategy and effectively manage our growth; political
and economic stability in and around India; our ability to successfully implement our growth strategy; our ability to attract, train
and retain executives and other qualified employees; increasing competition in the Indian travel industry and risks associated with
online commerce security. In addition to the foregoing factors, a description of certain other risks and uncertainties which may
cause actual results to differ materially can be found in the “Risk Factors” section of MMYT's 20-F dated September 2, 2011, filed
with the U.S. Securities Exchange Commission (“SEC”). Copies of this material is available from the SEC, our website or our
Investor Relations department.

We cannot assure you that the assumptions made in preparing any of the forward-looking statements will prove accurate or that
any projections will be realized. We expect that there will be differences between projected and actual results. These forward-
looking statements speak only as of the date of this presentation, and we do not undertake any obligation to update or revise
publicly any forward-looking statements, whether as a result of new information, future events or otherwise. You are cautioned
not to place undue reliance on these forward-looking statements. All forward-looking statements attributable to us are expressly
qualified in their entirety by the cautionary statements contained herein and in our future annual and quarterly reports as filed
with the SEC.




                                                                                                                                          2
 Non-IFRS Metrics & Note on Unaudited Financials


The following non-IFRS metrics will be used in this presentation:

  Gross Bookings – represents total amount paid by our customers for travel services and products booked through us,
  including taxes, fees, and other charges, and are net of cancellation and refunds, but does not include other revenues that
  are generated from 3rd party advertisement on our website, commissions and fees earned from the sale of railway and bus
  operators and fees earned by facilitating travel insurance policies to customers.
  Net Revenues – represents Revenues less Service Costs (costs of procuring the relevant services for sale to customers,
  including procurement costs paid to hotel and package suppliers for the acquisition of hotel rooms, sightseeing costs, local
  transport costs and on occasion the cost of air tickets when the company pre-purchases air ticket inventory in order to
  enjoy special negotiated rates and revenues)
  Net Revenue Margins – is defined as Net Revenues as a percentage of Gross Bookings, and represents commissions,
  fees, incentive payments and other amounts earned in our business. We follow net revenue margin trends closely across
  our various lines of business to gain insight into the profitability of our various businesses.
  Fiscal Year End – March 31st




                                                                                                                                 3
Key Investment Highlights


      India’s Leader in Online Travel & eCommerce


      Strong Supplier Partnerships & Innovative Distribution Channels


      Advanced & Secure Technology Platform


      Highly Scalable Operating Leverage


      Experienced Leadership Team Aligned With Shareholders


      Multiple Strategies to Drive Earnings Growth



                                                                        4
Business Overview
India: A Growth Story

 5th Largest Economy Globally                                      Rapidly Growing Middle Class
 2010 GDP at Purchasing Power Parity                               All India Households by Income Brackets
 US$ Tn                                                            MM Households
16                                                                 150
      14.9     14.7




                                                                                                              114
12

                         9.9                                       100



 8
                                                                                                             547 MM
                                                                                                             people
                                                                                                   54
                                                                    50
                                   4.3
                                          4.0
 4                                                                                               267 MM
                                                    3.0                            31
                                                                                                 people
                                                           2.2
                                                                               160 MM
                                                                               people


 0                                                                   0
   European USA          China    Japan   India   Germany Russia                2011              2016        2026
     Union
 Source: The CIA World Factbook                                    Source: The Economic Times




                                                                                                                      6
Internet Population Growing Rapidly

Rapid Growth in Internet Users
Million Users                                                           •   “1 in 10 Indians will be an Internet user by end
                                                                 121*
                                                                            of 2011” -The Economic Times November 2011
 120
                                                                        •   Net users growing at the rate of 5 to 7 million
                                                        100                 per month, should surpass US’s 245 million
 100
                                                                            users in less than 2 years
                                           81
  80                                                                    •   Mobile web to drive growth of Internet usage –
                            62                                              growing 15% quarter on quarter
  60
                                                                        •   60 million mobile net users by end of Fiscal
             42
                                                                            2012
  40


  20


    0
            2007          2008           2009           2010     2011
        2007-2010 Data Source: Internet World Stats
        *2011 Forecast: Indian Market Research Bureau (IMRB) &
         Internet & Mobile Association of India (IAMAI)
                                                                              Source: (IMRB) & Internet & Mobile Association of India (IAMAI)


                                     Currently the 3rd largest Internet population in the world
                                                   after China and United States
                                                                                                                                                7
Fast Adoption of Online Travel Bookings

 Growing Travel Market                                           Rising Penetration of Online Booking
 Total Travel Gross Bookings in India                            Total Online Gross Bookings in India
 US$ MM                                                          US$ MM
                                                                 7,500
  24,000                                                                                                        7,027
                                                  22,813



                                         19,922
                                                                 6,000
                                                                                                        5,524
                               17,652

                15,808
  16,000
                                                                                             4,362
                                                                 4,500



                                                                              3,342

                                                                 3,000

   8,000



                                                                 1,500




          0                                                            0
                2009            2010     2011     2012                         2009          2010       2011    2012
  Source: PhoCusWright, 2010



                                        India is expected to have the biggest growth in
                                               APAC's online travel space by 2012
                                                                                                                        8
  Travel Industry Capacity Coming Online

 Aircraft Order Announcements                    Hotel Chains to Increase Available Rooms
                                                 Accor Hotels: 90 more hotels planned
     Airline               In Service On Order   by 2015, 21 operational by 2013
     Air India                   103        30
     Jet Airways                   97       41   Hilton: currently operates 5 hotels,
     KingFisher                    66      150   plans to have 14 hotels in next 2 years
     GoAir                         10       72
     IndiGo                        43      238   Carlson Hotels: 100 total hotels planned
     SpiceJet                      33       57   by 2015 “Ambitious 2015” plan
     JetLite                       19        6
     Total                       371       594   ITC : looking to double its room inventory
                                                 to 16,000 plus rooms, or 40 properties


        Capacity expected to grow more           IHCL: will add 27 properties or
                   than 2.5 X                    3,700 rooms in 24 months


                                                       +100k rooms to be added by 2015

Source: Company websites & announcements


                                                                                              9
Target Market Expands Beyond Domestic Travel

 Growing Outbound Departures by Indians          Top Destinations for Indian Outbound Travelers, 2014
 MM People                                       Country Name (‘000 Indian Departures)
  20
                                          18.1




  15


                                                                                 France
                                   11.5                                          (392)
                                                                            UK
  10                                                                        (801)
                                                    USA                 Italy
                                                    (607)               (403)                     China
                                                                         Egypt                    (434)
               6.2                                                       (773)                                    Hong Kong
                                                                                                                  (297)
   5                                                                                                              Malaysia
                                                                                          UAE                     (916)
                                                                                          (984)
                                                                                             Thailand
                                                                                             (572)
                                                                                                        Singapore (941)
   0
             2004                  2009   2014
       Source: Euromonitor, 2010



             Indian Outbound Travelers Forecasted to Reach 50+ million by 2020                             – (UNWTO)




                                                                                                                              10
 Market Leader in India’s OTA Industry

     in Total Gross Bookings
  #1 in Gross Bookings

                                          Most visited online travel website in India
                        Others
                         10%              Largest seller of air tickets for
                                           all Indian Full Service & Low Cost Carriers

          Cleartrip                       MakeMyTrip’s customers represented
            18%                            12% of all domestic passengers flown
                                            (source data: dgca.nic.in July & August 2011)
                                 48%
                                          Largest Producer of online room bookings for many
                     Yatra
                                           hotel chains in India
                     24%
                                          Largest domestic e-commerce company
                                           with over 4.1 million monthly unique visitors
                                            (September 2011 comScore)


Source: PhoCusWright, Mar 2010




                                                                                            11
Keys to Our Success


        Strong Brand Recognition                         Superior User Experience

 “Best Online Travel Agency                     User-friendly interface (online & offline)
   & Best Domestic Tour Operator”                  - Hotels 3.0
   -Times of India 2011                          Simple & fast responding booking engines
 High rates of repeat & direct site traffic     Customer Loyalty Program – My Trip Rewards
 Most searched online travel brand in India     Innovative Customer Service Online Support
   with 8.2 million visits per month

                                                           Open Work Culture
          Operational Excellence
                                                      to Drive Innovation & Growth
  Web analytics to manage site traffic &         #3 in Great Places to Work (India 2011)
    enhance conversion rates
  Continuous monitoring of key metrics
    i.e. conversions, first call resolutions,
    customer satisfaction
  Web infrastructure 24x7 alert systems


                                                                                               12
Offering Comprehensive Travel Services and Products

                                   Air                               Air Ticketing
                               Ticketing                               Domestic Flights
                                  76%                                  (within India)

                                                                       International Flights
                             % of Net Revenue                          (inbound & outbound to/from
                             (LTM 9/30/2011)                           India)


                                                                     Hotels & Packages
                                                                       Holiday Packages in India

                                                                       International Holiday Packages

                                                                       Standalone Hotel Reservations
                 Emerging
                 Segments                   Hotels &                    Flight Plus Hotel Deals
                    4%                      Packages
                                              20%
                                                                     Emerging Segments
                                                                       Travel Insurance
                                                                       Rail Ticketing
                                                                       Bus Ticketing
                                                                       Car Hire
                                                                       Website Advertising


                                    Large Target Market:
        Indian Middle Class, Non-Resident Indians, Domestic Small and Medium Enterprises
                                                                                                        13
Established Strong Airline Partnerships

All Domestic
Full Service Carriers (GDS)




All Domestic
Low Cost Carriers (Direct Connects)




All Major
International Airlines (GDS)




   Single Largest Air Ticketing Agent for All Domestic Full & Low Cost Carriers in India
                                                                                           14
Widest Availability of Domestic Hotels



                                                           6,000+ properties offered
                                                            29%

                                                            21%

                                                            33%

                                                            11%

                                                             6%




    Adding 500 more hotels each month to increase selection for customers


                                                                                  15
Innovative Holiday Packages & Bundled Products

                                                                     Partnerships with Tourism
                                                                     Boards of Bhutan, Thailand
                                                                     & Malaysia

                                                                     Acquisition of Luxury Tours
                                                                     & Travel: more value &
                                                                     choice for SE Asia bound
                                                                     customers




              More choices in holiday packages versus online competitors
        Greatest proportion of non air net revenue in the domestic OTA industry



                                                                                              16
Top OTA Seller of Hotel Rooms In India

         Starwood Hotels India “Today MakeMyTrip is the single largest OTA provider for Starwood Hotels in India and we are
         committed to strengthening this partnership as we continue to grow” -Devdutta Banerjee, Regional Director of Revenue
         Management


         Sarovar Hotels “On a year round basis MakeMyTrip is now our single largest online producer exceeding Expedia in
         productivity...a challenge that they had willingly accepted” - Pradeep Kalra, SVP Sales & Marketing (Sarovar Hotels)


         Lemon Tree Hotels “Today MakeMyTrip is our largest OTA seller for Lemon Tree hotels and we are committed to strengthening
         this partnership going forward.” -Rahul Pandit, President & COO (Lemon Tree Hotels)


         LaLit Suri Hospitality Group “MakeMyTrip is our largest OTA seller for The Lalit Hotels in India. With new hotels being added to
         our portfolio, we are confident that our partnership will be fruitful and productive for both of us.”
          -Kamal Kishore Corporate Head - Revenue Management & Channel Distribution | The LaLiT Suri Hospitality Group


         Keys Hotels “MakeMyTrip is the largest OTA for Keys Hotels in India and we are consistently growing in our association as
         higher numbers are flowing in from MMYT and as we continue opening new hotels across India. Their productivity has been
         consistent and timely for us to be able to plan our yields better and at the same time MMYT has given us a brilliant platform to
         showcase our unique hotels portfolio.” Jai Motihar - Corporate Head-Revenue Management


         Fortune Hotels “We are committed to strengthening our partnership with MakeMyTrip as they are our largest OTA seller of
         hotel rooms for Fortune.” Geetika Bahri | Asst. Revenue Manager | Fortune Park Hotels Ltd.

                        Largest Online Producer of Room Bookings for
                                 Most Hotel Chains in India
                                                                                                                                   17
Hotels 3.0 to Further Enhance Shoppers’ Experience




          Improved User Interface          Select & Purchase Hotels on a Map




        Shortlisting & Saved Results             Destination Inspiration



                                                                               18
Acquisitions & Investments to Drive Hotels & Packages Growth



     Luxury Tours & Travel (May 2011)
     •   Increase hotel selection in Southeast Asia
     •   Enhance travel experience
     •   Net revenue margin expansion

     iXiGO.com (August 2011)
     •   Technology team acquisition
     •   User Generated Content & Social Media

     My Guest House (November 2011)
     •   Access to ultra budget accommodation inventory
     •   Last room availability technology




                                                               19
Sales and Service Channels

           Online                      19 MakeMyTrip                        Blackberry Featured App
                                        Travel Stores                          & Mobile Webpage


                                    Ludhiana
                                   Delhi / Gurgaon
                                     Jaipur                      Guwahati
                                               Lucknow
                                  Ahmedabad
                                         Indore
                             Rajkot Vadodra            Kolkata
                                    Sur       Nagpur
                                    at Nasik
                               MumbaiPune
                                             Hyderabad
                                      Goa
                                      Bangalore Chennai




        Call Center:          11,000+ Affiliate Travel                           Social Network
     800+ Tele Agents;         Agents in 700+ cities;                               Presence
     Multiple Locations;       B2B and B2C Services
       Multilingual




                                                                                                      20
 Flexible Payment Options and Customer Service Channels


All Major Payment Options Accepted
  *Credit Cards           *Debit Cards
  *Net Banking            *Cash on Delivery
  *Cash Card              *Easy Pay




Online Customer Support Module
 Cancel, Modify, Track bookings; bypassing call center




                                                          21
Advanced, Secure and Scalable Technology Platform

                             Robust, Reliable and Fully Integrated Technology Platform


  Simple booking process


  Web-enabled centralized
   booking system

  Scalable search and
   caching,
   Comprehensive results,
   Quick response time

  Enhanced Security by
   Visa payment gateway
   for online transactions

  Integrated B2B, B2C and
   Mobile platforms




                                                                                         22
Experienced Leadership Team

Corporate Leadership


          Deep Kalra                                                    Rajesh Magow
          Founder, Chairman and CEO                                     Co-Founder and CFO


          Keyur Joshi                                                   Mohit Gupta
          Co-Founder and COO                                            Chief Marketing Officer


          Amit Somani                                                   Rajnish Kapur
          Chief Products Officer                                        Chief Innovation Officer


          Amit Saberwal                                                 Anand Kandadai
          Senior VP, Hotels & International Markets                     Senior VP, Outbound Tours

Independent Directors

          Vivek N Gour                                Philip C. Wolf                              Frederic Lalonde
          Ex-CFO of Genpact                           Retired President and                       Founder and CEO
          CEO of Air Works                            CEO of PhoCusWright                         of Openplaces



                                                                                                                     23
Multiple Strategies Driving Growth


       Broaden Geographical Reach                       Expand Product Diversity

   Expand footprint into regional geographies   Increase revenue share of Hotels and
    (Partnerships with Tourism Boards)            Package business

   Target geographies with high non-resident    Cross sell higher-margin services and
    Indian populations                            products
    (UAE)
                                                 Continue to invest in new product
                                                  categories to offer a 1-stop shopping
                                                  solution



      Selective Acquisitions and JVs                   Enhance Core Technology
        to Further Enhance Value                             Advantage

   Focus on regional, niche holiday players     Continue enhancement of user
                                                  experience
   Optimizing travel supply procurement          (Hotel 3.0 site)
    (Luxury Tours & Travel)
                                                 Leverage social networks to acquire new
   Acquire & invest in technologies to           customers
    accelerate growth                             (Facebook, Twitter, YouTube)
    (ixigo.com, My Guest House)


                                                                                            24
Financial Overview
We Are Capitalizing on Growth Trends

Gross Bookings                                                                    Net Revenue (1)
(US$ MM)                                                                          (US$ MM)
 800                                                                               70
                                                              742
                                                                                                                              61
                                                              95                   60                                         2.5


 600                                                                                                                          11
                                                                                   50
                                                                        509
                                                                                                                                        42
                                            466                                                                   40
                                                                         77                                                             1.7
                                                                                   40                             1.2
                                             57
 400                                                                                                               8                     10

                            313                                                    30
                                                              648                                      25
                             52                                                                        0.7                    48
            225                                                                                         6
                                                                         433       20        17
 200         26                             409
                                                                                             2                    31                     31
                            261
                                                                                   10                   19
             199
                                                                                             14


   0                                                                                0
          FY2008          FY2009          FY2010             FY2011   1H FY2012          FY2008       FY2009    FY2010       FY2011   1H FY2012
                     Air Travel          Hotels and Packages                             Air Travel    Hotels and Packages    Emerging Segments

Note: 1. Net Revenues represent Revenues Less Service Cost




                                                                                                                                              26
Delivering Strong Growth in a Seasonal Industry: Transactions

 Air Ticketing Transactions                                                                 Hotels and Packages Transactions
 (‘000s)                                                                                    (‘000s)
 1,200                                                                                      100
                                                                                   +60.4%
                                                                                     yoy
                                                                                              90                                               +135.8%
                                                                                   995.9                                                         yoy
 1,000
                                                                                              80
                                                                       904.1                                                                   74.2
                                                                                                                                       73.3
                                                         854.0
                                                                                                        Fiscal Q1 (AMJ) & Q3 (OND)
                                                                                              70
                                                                                                            are peak travel months
   800                                     759.2

                                                                                              60
                             620.9                                                                                     50.7     51.2
               590.5
   600                                                                                        50
                                                                                                      42.6
                                                                                              40

   400                                                                                                        31.4
                                                                                              30


                                                                                              20
   200

                                                                                              10


       0                                                                                       0
                Q1             Q2           Q3            Q4             Q1         Q2                Q1       Q2       Q3      Q4     Q1      Q2
                                  FY2011                                    FY2012                               FY2011                   FY2012
  Note 1: Fiscal years refer to year ending March 31 (fiscal)
  Note 2: Hotels & Packages results include acquisition of Luxury Tours & Travel



                                                                                                                                                      27
Delivering Strong Growth in a Seasonal Industry: Gross Bookings

 Air Ticketing Bookings                                                                     Hotels and Packages Bookings
 (in $ millions)                                                                            (in $ million)
                                                                                   +54.2%
 250                                                                                 yoy    50

                                                                                                                                            45.3
                                                                      218.8                 45
                                                                                   213.7
                                                                                                             Fiscal Q1 (AMJ) & Q3 (OND)
 200                                                                                        40                   are peak travel months
                                         183.4                                                                                                        +79.8%
                                                        179.4                                                                                           yoy
                                                                                            35
                                                                                                                                                      31.2
             146.5
 150                       138.6                                                            30        28.2
                                                                                                                             27.2

                                                                                            25
                                                                                                                                     21.9

 100                                                                                        20
                                                                                                                  17.4

                                                                                            15


   50                                                                                       10


                                                                                              5


    0                                                                                         0
              Q1             Q2            Q3            Q4             Q1          Q2                 Q1          Q2        Q3      Q4     Q1        Q2
                                FY2011                                     FY2012                                       FY2011                   FY2012
  Note 1: Fiscal years refer to year ending March 31 (fiscal)
  Note 2: Hotels & Packages results include acquisition of Luxury Tours & Travel



                                                                                                                                                               28
Delivering Strong Growth in a Seasonal Industry: Net Revenue

 Air Ticketing Net Revenue                                                                  Hotels and Packages Net Revenue
 (in $ millions)                                                                            (in $ million)
 20                                                                                +61.8%   7
                                                                                     yoy

 18                                                                                                     Fiscal Q1 (AMJ) & Q3 (OND)     5.9
                                                                                   16.6     6               are peak travel months
 16
                                                                      14.4
                                                        13.9                                5                                                    +83.7%
 14                                      13.5
                                                                                                                                                   yoy


 12
                                                                                            4                                                     3.8
            10.0          10.3
 10                                                                                                  3.4

                                                                                                                         2.9
                                                                                            3
   8                                                                                                                             2.5

                                                                                                              2.1
   6                                                                                        2

   4
                                                                                            1
   2


   0                                                                                        0
             Q1             Q2            Q3             Q4            Q1           Q2               Q1        Q2        Q3      Q4    Q1         Q2
                              FY2011                                       FY2012                                   FY2011                   FY2012
  Note 1: Fiscal years refer to year ending March 31 (fiscal)
  Note 2: Hotels & Packages results include acquisition of Luxury Tours & Travel



                                                                                                                                                          29
Net Revenue Margins

 Net Revenue as % of Gross Bookings           Air Travel
10%                                          8%
                                                                    7.6%                     Multiple sources underline
                                                                            7.4%             model’s resilience
                     8.4%                                   7.2%                    7.2%
                                                   7.1%
              7.8%          7.9%     8.0%                                                     Commissions and incentives
8%                                           7%
      7.3%                                                                                     from airlines
                                                                                              Service fees from customers
                                                                                              Fees from GDS partner

6%                                           6%
                                                   FY2008 FY2009 FY2010 FY2011       1H
                                                                                    FY12
                                              Hotels and Packages
4%
                                             15%
                                                                    14.0%
                                                                                     12.7%
                                                                            11.5%
2%
                                             12%            10.6%

                                                     8.9%                                    Effective Product Bundling
                                             9%                                              Mark up on Net Rates

0%
      FY2008 FY2009 FY2010 FY2011     1H     6%
                                    FY2012          FY2008 FY2009 FY2010 FY2011       1H
                                                                                    FY2012




                                                                                                                       30
Scalable Business Model Driving Operating Leverage


 Operating Costs (1)                                                                                 Operating Profit (1)
                                                                                                      (US$ MM)
 200%
                  190%
                                                                                                            FY2008    FY2009 FY2010     FY2011 1H FY2012
                                                                                                       5                                  4.6       4.0


 150%            74.0%                                                                                                           0.8
                                        135%                                                           0
                                                                                                                                1.9%     7.5%      9.4%
                                        34.9%
                                                                                                                                Operating Profit Margin
 100%                                                          94%                                    (5)
                 47.0%                                                               89%
                                                              24.0%                 20.4%
                                        44.6%
                                                                                                     (10)
                                                              30.6%                                                    (10.2)
                                                                                    30.0%
   50%
                 49.3%
                                        37.1%
                                                              24.3%                 22.7%            (15)

                 19.7%                                                                                       (16.0)
                                        18.0%                 15.3%                 16.2%
    0%
                FY2008                FY2009                 FY2010                FY2011            (20)

      Payment Gateway Costs                 Personnel Costs            SG&A        Marketing Costs

  Note: 1. All figures as a % of Net Revenues; Costs exclude stock based compensation charges




                                                                                                                                                          31
Outlook


  FY2012 guidance: Revenue less service cost range of $86 - $89 MM maintained

  Continue to invest in technology to enhance user experience
         Incremental CapEx of US$5 – US$6 MM during FY2012
         Complete upgrade of website (Hotel 3.0)
         New mid-office system for non air business

  New holidays brand campaign (‘Memories Unlimited’) in FY2012
         $300 thousand to be spent in Fiscal Q3

  Long term net revenue margin and operating margin outlook intact
          Air Net Revenue Margin: 6.0% - 6.5%
          Hotels & Packaging Margin: 14.0% - 15.0%
          Adjusted Operating Margin: 25% - 30%


                                                                                 32
Key Investment Highlights


     India’s Leader in Online Travel & eCommerce


     Strong Supplier Partnerships & Innovative Distribution Channels


     Advanced & Secure Technology Platform


      Highly Scalable Operating Leverage


     Experienced Leadership Team Aligned With Shareholders


     Multiple Strategies to Drive Earnings Growth

				
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