Just Dial Share price and Fundamental Analysis

Company History

Just Dial Limited was incorporated on December 20 1993. The Company is a pioneer in the pan-India search business. It provides a host of local search, search-related services and software services to users in India through multiple platforms such as the Internet, Desktop/ PC, Website, Mobile Internet, Over The Telephone (Voice) and Text (SMS).

Just Dial's JD Omni platform is an end-to-end business management solution for its SME partners. This platform goes beyond providing visibility to SMEs and enables them to ramp up their online presence via their own website and mobile website, and drive efficiencies across their businesses. Additionally, the company also provides digital payments solutions via its JD Pay platform for both users as well as SME partners. Though it offers a vast bouquet of offerings to its users and SMEs, search remains the core business of the company.

JD Social - the social media platform of the company enables users to chat, view friends' ratings and reviews and get curated content and information on business trends from top sources. MSMEs listed on Just Dial get higher visibility through this platform.

The Company has 3972 employees in telesales, 1480 feet-on-street (marketing), 3924 feet-on-street (Just Dial Ambassadors (JDAs), cold calling) sales force selling to SMEs. Its robust manpower network deployed across over 250 cities covers more than 11,000 pin codes in India.

Just Dial's shareholders offloaded a total of 17,497,458 equity shares of the company through an initial public offer during the period from 20 to 22 May 2013. The IPO was priced at Rs 530 per share. There was no fresh issue of shares by the company.

During the financial year ended 31 March 2014, the company continued with its focus on adding new services and expanding its SME base to a large number of vendors.

During the financial year ended 31 March 2015, the company continued with its focus on adding new services and expanding its SME base to a large number of vendors. J.D. International Pte. Ltd. Singapore was incorporated as a wholly owned subsidiary of the company with effect from September 10, 2015.

During the financial year ended 31 March 2016 (FY 2015-16), Just Dial bought back 10,61,499 equity shares of Rs 10/- each at a price of Rs 1,550/- per equity shares, for cash aggregating to Rs 1,64,53,23,450/- on proportionate basis.

During the year under review, the company continued with its focus on adding new services and expending its SME base to a large number of vendors. During the year under review, Just Dial launched a new service called JD Omni' to help small business manage their online and offline sales. JD Omni is a plug and play; cloud-based solution, which can be accessed over cell, phones and allows controlling and monitoring capabilities to business owners via a dashboard. The product allows small businesses to manage their inventory, billing, and third party logistics. The product also allows businesses to integrate bar code and QR code systems. This new service will provide platform to SMEs where they can transact online as well as offline. The total listings on its platform rose by 9% from 15 million in FY 2014-15 to 16.3 million listings in FY 2015-16 and these establishments enjoy access to users and potential buyers.

The demerger i.e. transfer and vesting of the Data & Information Undertaking of Just Dial Global Private Limited into Just Dial Limited as per the Scheme of Arrangement between Just Dial Limited and Just Dial Global Private Limited and their respective shareholders and creditors was approved by the National Company Law Tribunal on March 22, 2017.

During the year ended 31 March 2017, total listings on its platforms rose 9.5% to 17.9 million as on March 31, 2017 over as on March 31, 2016. During the year under review, the company continued with its efforts to revive the core business by strengthening team, aggressive marketing, adding new services and growing paid campaigns. In FY 2016-17, the Company had undergone a rationalization exercise in various non-core departments and continues to review the performance of its sales force especially those who consistently do not meet their targets.

In September 2017, Just Dial completed buy-back of 22,41,000 equity shares at an average price of Rs 374.18 per equity share aggregating to Rs 83.85 crore.

During the financial year ended 31 March 2018, pursuant to order passed by National Company Law Tribunal on March 22, 2017 in respect of Scheme of Arrangement between the company and Just Dial Global Private Limited, the company issued and allotted 11,25,068 preference shares of Rs 1/- each to the shareholders of Just Dial Global Private Limited.

During the year ended 31 March 2018, total listings on its platforms rose 21.7% to 21.8 million on the back of continued awareness about the company's offerings. Paid listings grew by 2.2% to 4,45,110 at the end of the year. Number of quarterly average unique visitors grew by 32.8% during the year to 106.2 million (this number is average of quarterly unique users for the 4 quarters of FY18, compared to FY17).

During the year under review, the company continued with its efforts to revive the core business by strengthening its products, aggressive marketing, adding new services and growing paid campaigns.

During the year 2019, the Company completed Buy-back of 27,50,000 equity shares of Rs. 10/- each, on a proportionate basis through the tender offer at a price of Rs. 800/- per equity share aggregating to Rs. 220 Crore.

During the year 2019, the Company revamped the design of its mobile platforms to make them more customer-friendly, easy to navigate and aesthetically appealing. It launched JD Social, News/Live TV and Chat messenger offerings on its mobile properties to increase user engagement.

The Company has two subsidiaries as on March 31, 2019 viz., Just Dial Inc., USA and JD International Pte. Ltd.

During the FY2020, the Company has acquired 100% shares of MYJD Private Limited, by way of purchasing the said equity shares from its existing shareholders Mr. V.S.S. Mani and Ms. Anita Mani, thereby resulting in the entity becoming a wholly owned subsidiary of the Company. Further, MYJD Private Limited, has not yet started its operations.

As on 31 March 2020,the company has 3 subsidiary companies under its roof.

The operations of the company were impacted due to shutdown of offices following the national lockdown imposed by the Government of India to contain the spread of COVID-19 pandemic.The company has resumed operations in a phased manner as per the directives from the Government authorities.

In April 2021, Company introduced a new B2B platform - JD Mart enabling businesses to showcase and sell their product and connect businesses to listed suppliers. With the launch of JD Mart , it operationalised a dedicated platform for the B2B marketplace. It engaged Bollywood Superstar Ranveer Singh, as Brand Ambassador during April 2021. With Ranveer, the Company initiated a special campaign during the 2021 IPL season, to promote newly launched B2B platform - JD Mart. It launched various engagement verticals, such as, Online Movie Finder, Cricket, Radio, Music, Stock and Augmented Reality (AR) based search as well. It launched JD Mart Andriod/iOS App.

During the quarter ended September 30, 2021, the Company has issued and allotted, on preferential basis, 21,177,636 Equity shares of Rs 10/- each fully paid-up, representing 25.35% of the post preferential Equity share capital, at a price of Rs 1,022.25/- per Equity share (including securities premium), aggregating Rs 2165 Crores to Reliance Retail Ventures Limited (RRVL). RRVL, through Share Purchase Agreement (SPA) dated July 16, 2021, acquired 130,61,163 Equity shares and as a result, RRVL held 40.98% of the Paid Up Equity Share Capital of the Company as on September 1, 2021. RRVL, further acquired control over the Company and became the Promoter of Company, which holds majority stake and is now a subsidiary of RRVL effective September 1, 2021. Further, on October 14, 2021, RRVL acquired an aggregate of 21,736,894 Equity shares, representing 26.02% of the total paidup Equity share capital of the Company and consequently, the aggregate holding of RRVL in the Company as on date stands at 55,975,693 Equity shares of the Company representing 66.96% of the total paid-up Equity share capital of the Company.

~4.6 million listings were added to the database during the year 2023 and the total active listings reached 36.5 million as of March 31, 2023, a growth of about 14.4% Y-o-Y. 61.1% of the database, or 22.3 million listings, were geo-coded and the Company had 139.2 million images in active listings, as on March 31, 2023.