AGM Overview
• Date and Submission: Transcript submitted on September 19, 2023, for the AGM held on September 15, 2023.
• Format: Conducted via video conference.
• Chair: Bhanu Chopra welcomed attendees and introduced board members and auditors.
• Participation Instructions: Provided by Company Secretary Thomas Joshua, including e-voting and question handling.
• Compliance: Emphasized adherence to regulations and electronic inspection of statutory records.
• E-voting Results: To be published on the company’s website and stock exchange platforms.
Financial Performance Highlights
• Chairman's Remarks:
• Strong performance in FY 2022-23, first full year post-listing.
• Growth across three business divisions and improved operating margins.
• Successful integration of Adara acquisition.
• Focus on doubling revenue in three years through customer base expansion and strategic acquisitions.
• Investment in generative AI for scalable solutions in travel and hospitality.
• CFO's Report:
• Record revenue of Rs 565.1 crore, a 54.2% increase year-over-year.
• EBITDA margins improved from 8.3% to 15%.
• Profit after tax increased 8X to Rs 68.6 crore.
• Employee costs as a percentage of revenue decreased from 52.2% to 44.7%.
• Strong customer retention: 90.1% gross revenue retention and 110.4% net revenue retention.
• Revenue diversification: 56.1% from the U.S. and 30.1% from Europe.
• Over 83% of IPO capital utilized, including for Adara acquisition.
• Plans for further margin expansion and leveraging data for enhanced customer service.
Strategic Initiatives
• Global Travel Trends: Discussed the macroenvironment's impact on future demand.
• Inorganic Growth Plans for FY24:
• Addressing capability gaps in DaaS, distribution, and martech.
• Plans to build or acquire technologies for booking engines, payment systems, and customer engagement platforms.
• Goal to create an integrated tech stack for better customer acquisition and retention.
• Focus on expanding presence in the U.S. and Europe, and exploring opportunities beyond the hotel sector.
• Robust pipeline for mergers and acquisitions while maintaining financial prudence.
Conclusion
• The meeting concluded with the Chairman thanking participants for their engagement.