Roadshow India’s Leading OTA for the

Presentation
‘Next Billion Users’ 1

1. In FY23 as per the Frost & Sullivan Report June 2024

0
Today’s Presenters

Rajnish Kumar
Aloke Bajpai Saurabh Devendra Singh
Director and Group
Chairman, Managing Director & Group Chief Financial
Co-Chief Executive Officer
Group Chief Executive Officer Officer

1
 Private & Confidential

Issue Structure

Issue Size

Issue Size INR MN

Fresh Issue 1,200

Offer for Sale 6,201

Price Band (INR per share) 88-93

Timeline

Bid / Offer Opening Date Monday, June 10, 2024

Bid / Offer Closing Date Wednesday, June 12, 2024

Allotment On or about Thursday, 13 June, 2024

Listing On or about Tuesday, 18 June, 2024

Calculated at the higher end of the price band

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 India’s Leading OTA For The “Next Billion Users” 1

India’s 2nd Largest OTA9 India’s Fastest Growing OTA10 AI & Technology led Operations

Train
429.38 Mn2 Annual Active Users Proprietary Data & AI Based Platform
#13
2,4817 Towns With Crowd Sourced Utility Features

94.39%2 Customer Service Automation With

Bus of Transactions
Deep penetration6 in Tier II / III 89.86%2 TARA AI Chatbot

#24
1.37 Mn
9MFY24 High Ancillary Attachment Rate For
Robust Growth In Upsell To Flights 31.65%7 Value-Added Services
0.72 Mn
9MFY23

Flight
Top 55 23.0 Highest App Engagement Products, Customer Service & Marketing
Fastest Growing5 Monthly Avg
Amongst OTAs8 In Multiple Regional Languages
Sessions / User7

86.06% Repeat Transaction Rate7 Highest Revenue Per Employee

“One-stop” Multi-Brand Travel Solution
90.29% Organic Users2 Amongst OTAs3

Note: 1. Highest Monthly Active Users for mobile apps across all key OTAs as of September 30, 2023 (Source: F&S Report) 2. FY23 3. For FY23 (Source F&S Report) 4. 11.5% market share in online bus ticket bookings in FY23 and increased further to 12.5% in the first
.

half of FY24 (Source: F&S Report) 5. Airline OTAs in the B2C segment in FY23, Growth recorded for H1FY24 from H1FY23 making ixigo the fastest growing OTA (Source: F&S Report) 6. % of transactions booked through ixigo’s OTA platforms where either an origin or
destination was a non-Tier I city (non-Tier I transactions) 7. As of 9MFY23 8. Source: F&S Report 9. In terms of consolidated revenue from operations in FY23 (Source: F&S Report) 10. In terms of revenue from operations between FY20 & FY23 (Source: F&S Report) 3
Resulting In ixigo Becoming The Fastest Growing OTA In India5

OTA 1 OTA 2 OTA 3 OTA 4

Operating Revenues
5.0 47.7 4.5 3.8 NA
(FY23 - INR Bn)

Revenue per employee

9.2 8.1 5.8 2.9 NA
(FY23 - INR Mn)

Revenue Growth
350% 29% 221% -48% NA
(FY20-FY23)

Monthly App Downloads

4.9 3 0.2 0.1 0.2
(Mn)1

Cumulative App Downloads

288.4 249.2 10.0 19.0 N/A
(Mn)2

Monthly Active Users

83.0 81.5 4.3 2.8 4.4
(Mn)3

Monthly Avg. Session / User3 23.0 13.6 7.3 9.8 8.0

App Reviews
3.1 1 0.1 0.3 0.3
(Mn)4

App Ratings
4.6 4.6 4.6 3.9 4.3
(#)4

Source: F&S report. Note: 1. Sep ‘23, 2. Cumulative downloads are as of September 2023, taken on November 19, 2023, as per Data.ai. 3. Data.ai, taken on November 6, 2023 for September 2023 4. Playstore as of 30th Nov ’23
5. In terms of app downloads Winner 4
Uniquely Positioned To Capture The
Market Opportunity

5
Vision Who we are
Our vision is to become the most customer- We are a technology company focused on
centric travel company, by offering the best empowering Indian travellers to plan, book
customer experience to our users and manage their trips

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Evolved From A Utility Platform To Become India’s 2nd Largest OTA1

2007 – 2014 2015 – 2019 2020 – 2023

Note: 1. Basis consolidated revenue from operations in FY23 (Source: F&S Report) 7
The ixigo Flywheel

Train Utility and

Crowdsourced Information
Running status, PNR status and more

Smart Customer Acquiring NBUs Organically

Experience & Data Moats 429.38 Mn annual active users in FY23
Highest rated app, fuelling word of mouth2

539.39 Mn app downloads1

Upsell Value–Added Services Monetizing Through

Increase in revenue per transaction Ads & Train Tickets
with ixigo Assured & Assured Flex Largest OTA B2C distributor for IRCTC2

Convert Users Into Flight and Bus Bookers

Smart cross-sell helps gain first time flyers & bus bookers

Note: 1.Cumulative app downloads till 31st December 2023 2. F&S Report 8
Artificial Intelligence & Technology Driven Operations
Technology Forms The Basis For Our Operating Leverage

TARA – AI driven personal travel PLAN

assistant Generative AI based trip planner for
personalized itineraries

AI Revenue Optimisation
Dynamic & Crowd-sourced Info Running
personalized loyalty status, PNR predictions, train
points and discounts reviews

ixigo Assured & Assured Flex Utility Features

Offers fully refundable / App works without internet
reschedulable ticket to users connectivity or availability of
with AI-driven pricing GPS

Intelligent Alternate Travel

Automatic Web Check-in
Recommendations
Automatically checks-in flight
Suggest alternate trains or combinations
customers
when certain trains on a route are wait-
listed

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Cross-sell & Up-sell Resulting In Network Effects

Sizeable & Established User Base Provides Opportunity To Increase Monetization

Flight Passenger Segments Booked By Our NBU Focused App Users Ancillary Attachment Rate For VAS
Count in Million
Supported By High
Cross Sell
31.65%
1.37
28.87%
27.96%
1.08 26.41%
Increasing Up Sell Of
Flights To NBUs

0.70 0.72
0.58

15.43%

FY21 FY22 FY23 9MFY23 9MFY24

NBU bookers % of
overall flight 16.85% 16.52% 33.04% 31.53% 31.26%
passenger segments FY21 FY22 FY23 9MFY23 9MFY24

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Endeavor To Provide Best Customer Experience
Emphasize On Providing Personalized Support Throughout The User Purchase Cycle

Average Refund Time1 89.86% of queries solved by AI chatbot2 in FY23

7.56 Mn User Interactions Handled

89.86%
88.54%
49hrs : 07mins 2hrs : 47mins
85.71%
84.20%
FY21 FY23

FY21 FY22 FY23 9MFY24

Monthly Screen Views3 (Bn) Calls4 answered within 2 minutes

4.12
3.83

2.77
67.15% 91.07%

1.42
FY21 9MFY24

FY21 FY22 FY23 9MFY24

Note: 1. Refund time includes cancellation time 2. All queries which were resolved by chatbot without any human intervention divided by the overall queries 3. Total number of mobile app screen views or website page views in a given period divided by the number
of months in that period 4. Calls (or callbacks requested) to our call center 11
Robust Industry Dynamics & Large
Addressable Market

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Robust GDP Growth Coupled With Increasing Discretionary Spending…
Discretionary Spending1 Expected To Grow At YoY Growth Of 9.2% In FY24 & 8.6% In FY25

India Macroeconomic Outlook…

India Is One Of The Fastest Growing Economies Globally… …Which Will Lead To A Shift In Income Pyramid

India’s GDP / Capita (USD)

Discretionary Spending To
3,990 Spike At ~$4K GDP / Per Capita
High
High
8Mn 29Mn (7%)
(3%)
3,100
Upper mid Upper mid
2,390 61Mn (21%) 168Mn (44%)

Lower mid Lower mid

97Mn (33%) 132Mn (34%)

Low Low 57Mn

127 Mn (43%) (15%)

2018 2030
FY22 FY25F FY28F
(Proportion of discretionary spending)

Source: F&S Report Note: 1. Discretionary spending, defined as spending on transport, recreation, and miscellaneous goods in a household (Source: F&S Report) 13
…Driving The Travel Demand In India
Transportation & Hotel Accounted For The Second Largest Share Of Private Expenditure In FY22

Robust Growth Expected in Indian Travel & Tourism Market

Indian Tourism & Transportation Industry Growth In Online Penetration Across Different Segments

Market size (INR Bn)

CAGR 952 Mn Passengers Travelled
(FY23–28) On Reserved Tickets
86%
9% 5,904 81% 81%
802 8%
70%

837 6%

3,808
539 1,365 7%
44%
617
32%
992 28%

12% 19%
2,900

1,660

FY23 FY28 FY23 FY28

Air Hotels Rail Intercity Bus Air Rail (Reserved booking) Hotels Intercity Bus

Source: F&S Report 14

Robust Growth Led By OTAs…

The Indian OTA Market Outpacing the Online Travel & The Overall Travel Market
Indian Travel Market By Booking Mode Indian OTA Market

Market size (INR Bn) Market size (INR Bn) CAGR

FY23 CAGR FY28
(FY23–28)
18% 2,802
204 18%
Total Market: 9% 202
5,904 15%
3,808 17%
3,895 517
Online Travel
2,079 Market: 13%

2,802
1,239 OTA Market: 18% 1,239
88
100
238 1,879 18%

FY28 65% 35%

813

FY23 54% 46%

FY23 FY28

Online Offline Air Hotels Rail Intercity Bus

Source: F&S Report 15

…And, Backed By Increasing Share Of Non Tier 1 Travel In India

‘Next Billion Users’ Is A Huge Addressable Market Even For Flights

Non Tier 1 Air Travelers Outpacing Tier 1 Air Travelers… …With Growing Share of Tier 2-Tier 2/3/4

51% 56% 10%

12%

60%
First-Time Fliers
Migrate From Trains2

49% 44% 90%

88%

2018 2022 2018 2022

T1-T1 T1-NT1
T2-T1 T2-T2/3/4

Source: F&S Report Note: 1. Tier 1 refers to top 8 metro cities in India, T1-T1 States Traveling From Tier 1 To Tier 1, T1-NT1 States Travelling From Tier 1 To Tier 2, Tier 3 Or Tier 4 City 2. T2-T1 States Travelling From Tier 2 To Tier 1, T2-T2 States Travelling From
Tier 2 To Tier 2.2. Almost 60% of the annual traffic of any Low-Cost Carriers (LCC) comprising first-time fliers in FY22 16
…Ably Supported By Government Infrastructure Investments…
Facilitating Policies In Air, Road & Rail Transportation & Branded / Unbranded Hospitality

₹2,400 Bn 8 150 3rd ₹2,700 Bn 2nd

Capex Allocated To New Rail Corridors For New Airports In Tier II, Largest Aviation Largest Road
Allocated To Ministry
Railways In FY24 1st Bullet Train Project1 III Cities In Next 20 Yrs Market By FY30 Network In The World
Of Roads For FY24

7,000 Km 508 1,500 450 Mn 4,500 72,000

Tracks To Be Constructed Railway Stations To Aircrafts Air Passengers Private Long Range
In Next 10 Yrs Be Redeveloped2 By 2030 FY30 Operators Intercity Buses

Source: F&S report. Note: 1. In Pipeline 2. Under Amrit Bharat Station Scheme 17
Resurgence Of Religious & Spiritual Tourism Across India
Various Government Initiatives in Place To Increase Domestic and Inbound Travel In India

Swadesh Darshan PRASAD1 Scheme

100Mn visitors at
Kashi Vishwanath Dham since Dec’21
To provide lasting visiting experience by creating To develop tourist destinations across India in an
tourist circuits based on specific themes organized and sustainable manner
70 Mn
Renovation
Dec ‘21
₹ 14.1 Bn ₹ 2.5 Bn
FY24
Allocated Budget FY23
Allocated Budget 8 Mn
₹ 2.6 Bn ₹ 1 Bn
FY22
FY15
Pre-renovation 2022

Enhancing awareness of
76 Project Sanctions Received religious tourism

Similar Footfalls at Ayodhya Anticipated With

Ram Mandir & New Airport

Roughly 25% share of accommodation demand comes from pilgrimage based tourism

Source: F&S Report, Note - Pilgrimage Rejuvenation and Spiritual Heritage Augmentation Drive
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Growing Market Share In Key Segments

1 2
Revenue From
#1 #2 Top 5 3
Operations Airline OTA in B2C Segment

Fastest Growing OTA For Flights3

₹ 5,012.50 Mn 52.64%
12.99%
5.30%
FY23

3.30%

₹ 1,355.66 Mn 46.15% 11.50%

FY21

FY23 9MFY24 FY23 9MFY24 FY23 9MFY24

Train OTA4 Bus OTA5 Flight OTA6

Source: F&S Report Note: 1. For FY23 (Source F&S Report) 2. 11.5% market share in online bus ticket bookings in FY23 and increased further to 12.9% in the 9MFY24 (Source: F&S Report) 3. In FY23, Growth recorded for H1FY24 from H1FY23 making ixigo the
fastest growing OTA (Source: F&S Report) 4. Train bookings 5.Online bus ticket bookings 6.Airline OTA market share by volume 19
Diversified Business Model With Significant Operating Leverage
Mix Of Product & Service Offerings Comprehensively Addressing The Online Travel Market In India

9M FY24 GTV1 Revenue From Contribution

vs 9M FY23 Multiple revenue streams Gross Take Rate2
(INR Mn) Operations (INR Mn) Margin (INR Mn)

 Agent service charges

40,705.37 2,759.84 969.32
Train  Payment gateway charges
Ticketing 6.57%
 ixigo Assured/Free cancellation fees
32,687.11 2,174.27 672.16
 Advertising income

 Airline commissions
26,352.85 1,091.74 533.41
Flight  Convenience fees
Ticketing 8.25%
 ixigo Assured and Flex fees
 Ancillaries and advertising income 14,705.87 732.63 374.88

 Convenience fees
8,871.03 992.72 660.21
Bus  Bus operator commissions
Ticketing 10.99%
 Abhi Assured fees
 SaaS and advertising income 7,232.83 711.46 445.56

ixigo has a diverse product portfolio to provide “One-stop multi brand travel solution”
Note: 1. Total amount paid (including taxes, fees and service charges, gross of all discounts) by users for the OTA services and products booked through us in the relevant period 2. Gross Take Rate refers to gross revenue from ticketing booked through us in the relevant
period divided by Gross Transaction Value during the relevant period 3. All Values provided are for 9MFY24 20
Operational Performance Overview
~3x Growth In Gross Transaction Value & ~6x Growth In Passenger Segments (FY21-23)

Gross Transaction Value1 (INR Bn) Passenger Segments4 (in Mn)

74.52 75.93 82.74

70.28 71.01
56.15 54.63 61.61

21.53
14.81

FY21 FY22 FY23 9MFY23 9MFY24 FY21 FY22 FY23 9MFY23 9MFY24

MAUs2 and MTUs3 (in Mn) Mobile App Downloads5 (in Mn)

1.81% 4.32% 3.40% 3.39% 3.22% 106.07

90.00
77.04 78.00 81.86
62.83 62.01
2.48
44.20 2.13 2.10 43.80
1.91
21.59
0.39

FY21 FY22 FY23 9MFY23 9MFY24 FY21 FY22 FY23 9MFY23 9MFY24
MAU MTU MTU / MAU ratio
Note: 1. Total amount paid (including taxes, fees and service charges, gross of all discounts) by users for the OTA services and products booked through us in the relevant period 2. Number of unique devices (including, amongst others, laptops and mobile phones) which have
recorded at least one visit to a page/ screen on our platforms in a given period, divided by the number of months in that period, cumulated across ixigo, ConfirmTkt and Abhibus website and apps 3. Number of unique transacting users identified by users’ mobile number and/or
email address, as applicable, that have made at least one booking through us, in a given period, divided by the number of months in that period, cumulated across ixigo, ConfirmTkt and Abhibus website and apps 4. Total number of point-to-point passenger tickets booked
between two cities, airports, train stations or bus stations, as applicable, whether or not such a ticket is part of a larger or longer itinerary 5. Total number of downloads of our ixigo (train), ixigo (flight), Abhibus and Confirmtkt mobile apps in the relevant period 21
Financial Performance Overview
~4x Growth In Revenue (FY21-23) With Healthy EBITDA Margin (8.85% in FY23)

Revenue
Operating
fromRevenue
Operations
(INR
(INR
Mn)Mn) Contribution Margin (INR Mn)2

6.94% 7.73% 8.14% 8.09% 7.71% 38.29% 32.05% 43.51% 41.65% 45.24%

5,012.50 4,910.21 2,180.78 2,221.22

3,795.80 3,643.08 1,517.32
1,216.41

1,355.66 519.07

FY21 FY22 FY23 9MFY23 9MFY24

FY21 FY22 FY23 9MFY23 9MFY24
Contribution Margin (%)3
Gross take rate1 (%)

Adjusted EBITDA (INR Mn)4 Restated Profit / (Loss) for the year (INR Mn)6
657.12

6.06% 1.63% 8.85% 7.50% 7.78%

443.45 233.96
381.79 182.62
273.25 75.33

82.10 62.00

(210.94)
FY21 FY22 FY23 9MFY23 9MFY24 FY21 FY22 FY23 9MFY23 9MFY24
Adj. EBITDA Margin (%)5

Note: 1. Gross take rate is calculated basis gross ticketing revenue 2. Contribution Margin is defined as net ticketing revenue plus other operating revenue less direct expenses 3. Contribution Margin (%) is defined as Contribution Margin divided by revenue from operations 4.
Adjusted EBITDA is calculated as the restated profit for the period or year plus tax expense, finance cost, depreciation, amortization expenses, employee stock exchange scheme less other income, exceptional items and share of profit/loss of associate 5. Adjusted EBITDA
Margin is defined as Adjusted EBITDA divided by revenue from operations 6. 9MFY24 Includes exceptional items [gain on account of loss of control in subsidiary] of ₹ 297.21 Mn & Deferred Tax Credit of ₹ (172.09) 22
Optimizing Capital Allocation To Enhance Operational Efficiency

Marquee Investors Lean Org. Structure + Tech-driven Ops.  Highest Rev/Employee…

Revenue per employee1 for FY23

Gamnat (an affiliate of GIC) 9.67% (INR Mn)

Malabar India 5.69%

9.2

India Acorn (White Oak) 8.1

1.48%

SAIF Partners (now, Elevation) 23.37% 5.8

Peak XV 15.66%
2.9

Trifecta Leaders 3.06%

Bay Capital 3.00%

ixigo OTA
OTA 11 OTA
OTA 22 OTA
OTA 33

Others 38.07%

Note – 1. Calculated basis Revenue from operations divided by number of employees, Exchange rate USD1=₹ 80.4 (as of March 31, 2023), Source: F&S Report 23
Highly Experienced Board & Management Team

Experienced Key Managerial Personnel

Mr. Aloke Bajpai Mr. Rajnish Kumar Mr. Saurabh Devendra Singh
Chairman, Managing Director & Director & Group Co-Chief Executive Group Chief Financial Officer
Group Chief Executive Officer Officer
 Ex- Amadeus  Ex-Amadeus  Ex- Sanford C. Bernstein
 MBA, INSEAD  B.Tech, Computer Science, IIT Kanpur  PGDM, IIM Ahmedabad
 B.Tech, Electrical Engineering, IIT Kanpur  B.Tech, Chemical Engineering, IIT Delhi

Mr. Dinesh Kumar Kotha Mr. Sripad Vaidya Mr. Suresh Kumar Bhutani
Chief Executive Officer, ixigo Trains & Chief Operating Officer, ixigo Trains & Group General Counsel, Company
ConfirmTkt ConfirmTkt Secretary & Compliance officer
 Co-founder, Confirm Tkt  Co-founder, Confirm Tkt  Ex-Interglobe Aviation, R Systems Intl.
 Ex-o9 Solutions  B.Tech, Computer Science and  MBA – Indira Gandhi National Open University
 B.Tech, NIT, Jamshedpur Engineering from Sastra University  B.Com (H), FCS, LLB,

Board of Directors

Mr. Shailesh Lakhani Mr. Frederic Lalonde Mr. Rahul Pandit Mr. Arun Seth
Non-Executive Director Non-Executive Director Independent Director Independent Director
 Nominated to Board by Peak XV  Founder and CEO of Hopper, an  Ex-Hamstede Living Pvt Ltd,  Ex-Trustee of the Nasscom
 MBA, Harvard University airfare and hotel fare prediction Ginger Hotels, Lemontree Hotels Foundation
 Bachelor’s degree, University of mobile application  BA, University of Delhi,  PGDM from IIM, Calcutta
Waterloo  Diploma in Hotel Management  B.Tech (Electrical), IIT Kanpur

Mr. Mahendra Pratap Mall Ms. Shuba Rao Mayya Mr. Rajesh Sawhney
Independent Director Independent Director Independent Director
 Ex- CMD, IRCTC  Ex-ICICI, TCS  Founder, GSF; Co-founder
 MDI Gurugram (Management)  29+ years of banking & insurance Innerchef,Ex-Reliance
 B.Sc., MA from University of experience  Master’s degree in management
Allahabad  B.Com, Associate member of ICAI studies, University of Mumbai

Part of Board of Directors

24
Future Strategies

25
To Become A One Stop Travel Solution Provider

Continue To Deepen Penetration & Enhance Our Increase Monetization Through Cross-selling Improve Operating Leverage Through
Offerings For The ‘NBUs’ And Up-selling Investment In Deep Tech & AI

Engage Existing Users To Return To Book

Enhance TARA chatbot to understand local
• Increase Volume Of Transactions & Train Tours
 languages & voice-based interactions
Frequency Of Engagement
Holiday
Packages
Offer New Embedded Value Added

Bus
Acquire New Users & Build “Top Of Mind” Services
Awareness Activities &
Experiences
• Through Investments in Online & Offline
brand building Flight Automate Operations Through Tech
Travel
Insurance  Investments

Introduce Newer Offerings Hotels Ancillary

services


Continue To Develop In-house Models
• Position As A One Stop Multi Brand Travel
Solution Through The Use Of AI

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Appendix
Multi-App, Multi-Brand Approach To Target Distinct Customer Segments

Multi-brand Approach To Address The Various Travel Use Cases Due To Fragmented Requirements Of Travellers

Trip.com Ctrip Qunar Travix Skyscanner MakeMyTrip1

Booking.com Agoda RentalCars Priceline Kayak

MakeMyTrip Goibibo Quest2Travel Redbus Redrail

Expedia Hotels.com Hotwire Orbitz Wotif Travelocity

Source: F&S Report Note. 1. Trip.com is a Strategic Investor in MakeMyTrip

28
Established Consumer Travel Brands Built With User-first Approach

8th Most Downloaded Travel & Navigation App Globally 6

Operating
Metrics 213.21 Mn 77.04 Mn 2.48 Mn
Registered Monthly Active Monthly
Users1 Users1 Transacting Users3

Customer
Metrics 82.74 Mn 90.29% 86.06%
Passenger Segments Organic Repeat Transaction
(FY23)2 Users2 Rate4

Financial
Metrics
9M FY24 ₹ 75,929.25 Mn ₹ 4,910.21 Mn ₹ 381.79 Mn5
Gross Revenue from Adj.
Transaction Value4 Operations4 EBITDA4
Note: 1. December 31, 2023 2. As of FY23 3. September ’23 as per Data.ai 4. As of 9MFY24 5. Adjusted EBITDA is calculated as the restated profit for the period or year plus tax expense, finance cost, depreciation, amortization expenses, employee stock exchange scheme
less other income, exceptional items and share of profit/loss of associate 6. Ixigo trains app rankings in 2022 as per data.ai 29
Focus On Travel Utility & Customer Experience For NBUs

Journey Of A Typical Next Billion User

User makes 1st train Over time, trust

NBU user discovers ixigo apps become the Utility & crowd- booking and strengthens, users book
ixigo apps on train or first entry point into sourced train info. experiences ticketing, buses, flights, hotels,
bus searches on the digital travel builds trust & ixigo assured, trip cabs & other travel
Google Play Store ecosystem customer delight management & services through ixigo
running status

Word of Mouth

The apps supports multiple regional languages and provides a host of utility use
cases such as PNR status check, train running status, platform locator and more

Note: NBU – Next Billion Users. 30

Track Record of Synergistic Acquisitions

Continue To Pursue Targeted Acquisitions To Expand Offerings & Gain Access To New Markets

Feb’21 Aug’21

Online Train Discovery and Bus segment growth largely

Booking Platform driven post Abhibus synergies

Revenue from Operations (INR Mn) Revenue from Operations (INR Mn)

Contribution
123.40 961.17 969.32 Margin1 195.36 617.65 660.21
Scaling of revenues post

52.6% 12.9%
Market Share in Market Share in
9MFY24 9MFY24

2,977.99
acquisition

2,759.84 974.05 992.72

287.48
386.59

FY21 FY23 9MFY24 FY22 FY23 9MFY24

Strategic
rationale

 Strengthening presence in Non-Tier I markets

 Confirmtkt is an official IRCTC B2C ticketing partner
 Building last mile connectivity services to provide end-to-end multi-modal use
 Further strengthening ixigo’s presence in the train travel segment
cases

Note: 1. Contribution Margin defined as net ticketing revenue plus other operating revenue less direct expenses Source. F&S Report
31
Consolidated Summary Statement of Profits & Losses

Values in INR Mn
Particulars 9MFY24 9MFY23 FY23 FY22 FY21
Revenue from operations 4,910.21 3,643.08 5,012.50 3,795.80 1,355.66
Other income 60.76 144.13 163.23 53.61 28.40
Total income 4,970.97 3,787.21 5,175.73 3,849.41 1,384.06

Expenses
Employee benefits expense 1,064.06 919.55 1,262.61 951.60 347.98
Finance costs 23.94 6.04 9.49 28.03 15.51
Depreciation and amortization expense 103.09 76.92 108.15 78.43 18.85
Other expenses 3,563.74 2,569.39 3,462.67 2,967.35 974.65
Total expenses 4,754.83 3,571.90 4,842.92 4,025.41 1,356.99

Restated Profit / (loss) before share of loss of an associate, exceptional items and tax 216.14 215.31 332.81 -176.00 27.07

Share of loss of an associate, net of tax -28.32 - - - -

Restated Profit / (loss) before exceptional items and tax 187.82 215.31 332.81 -176.00 27.07
Exceptional Items 297.21 -71.29 -126.07 - -
Restated Profit / (loss) before tax 485.03 144.02 206.74 -176.00 27.07

Tax expense/ (income):

Current tax 0.65 50.93 76.77 55.40 2.80
Deferred tax credit -172.74 -93.53 -103.99 -20.46 -51.06
Total tax expense/ (income) -172.09 -42.60 -27.22 34.94 -48.26

Restated profit / (loss) for the period/year 657.12 186.62 233.96 -210.94 75.33

32
Consolidated Summary Statement of Assets & Liabilities

Values in INR Mn Values in INR Mn

9MFY24 9MFY23 FY23 FY22 FY21 9MFY24 9MFY23 FY23 FY22 FY21

ASSETS EQUITY

Non - Current Assets Equity attributable to equity holders of

4,371.27 3,646.41 3,737.64 3,426.86 299.38
the Parent
PPE - Property, plant and equipment 16.97 20.36 17.33 16.2 3.96 Non-controlling interests - 139.26 133.55 - -
Goodwill 2,483.03 2,584.76 2,584.76 2,541.37 816.97 Total Equity 4,371.27 3,785.67 3,871.19 3,426.86 299.38

Investments - - - 5.6 3.44 LIABILITIES

Non - Current Liabilities
Deferred tax assets (net) 310.82 150.79 158.92 5.01 51.19
Borrowings - - - - 98.44
Other Non-Current Assets 815.94 535.40 605.63 487.40 270.64
Lease liabilities 33.09 48.56 63.3 30.9 43.38
Total Non - Current Assets 3,626.76 3,291.31 3,366.64 3,055.58 1,146.2 Provisions 52.73 38.01 41.14 27.74 18.55
Current Assets Other Non Current Liabilities 0 323.31 320.78 536.04 348.26

Investments 807.16 742.46 477.42 397.89 21.51 Total non- current liabilities 85.82 409.88 425.22 594.68 508.63
Current Liabilities
Trade receivables 327.22 140.94 118.89 86.19 263.31
Contract liabilities 115.63 87.85 91.48 52.14 41.46
Cash and cash equivalents 520.18 478.45 731.25 247.33 201.05
Borrowings 433.61 8.21 5.35 27.31 50.97
Bank balances other than cash and Total Outstanding Dues 590.85 400.65 360.85 445.36 195.18
322.34 112.2 194.54 798.04 104.34
cash equivalents
Other Current Liabilities 1,189.90 1,058.95 1,105.16 838.36 755.09
Other current assets 1,183.42 985.85 970.51 799.68 114.30
Total current liabilities 2,329.99 1,555.66 1,562.84 1,363.17 1,042.7
Total Current Assets 3,160.32 2,459.9 2,492.61 2,329.13 704.51
Total Liabilities 2,415.81 1,965.54 1,988.06 1,957.85 1,551.33
Total Assets 6,787.08 5,751.21 5,859.25 5,384.71 1,850.71 Total Equity & liabilities 6,787.08 5,751.21 5,859.25 5,384.71 1,850.71

Source: F&S Report 33

Consolidated Summary Statement of Cash Flows

Values in INR Mn
9MFY24 9MFY23 FY23 FY22 FY21
Cash flow from operating activities:
Restated Profit / (loss) before tax 485.03 144.02 206.74 -176.00 27.07
Depreciation and amortization 103.09 76.92 108.15 78.43 18.85
Impairment allowance of trade receivables -0.03 -3.21 -2.88 1.16 2.14
Bad debts - - - 0.22 0.08
Interest on borrowings 7.38 0.94 1.45 21.43 5.93
Exceptional Items -297.21 71.29 126.07 - -
Employee stock option scheme 99.38 119.11 156.23 185.15 49.06
Other Adj. to reconcile profit / (loss) before tax to net cash flows -502.49 -276.04 -355.47 133.57 -44.91
Total Adj. to reconcile profit / (loss) before tax to net cash flows -104.85 133.03 240.29 243.96 58.22
Operating profit / (loss) before working capital changes 380.18 277.05 447.03 67.96 85.29
Net changes in working capital -187.55 -45.21 -82.89 -347.84 -231.16
Cash flow from / (used in) operating activities 192.63 231.84 364.14 -279.88 -145.87
Direct taxes paid (net of refunds) -38.14 -35.62 -57.12 -63.61 -5.97
Net cash flow from /(used in) operating activities 154.49 196.22 307.02 -343.49 -151.84
Cash flow from investing activities:
Payment for purchase of current investments -4,929.65 -3,197.34 -5,387.23 -1,200.24 -
Proceeds from sale of current investments 4,639.16 2,876.81 5,347.09 842.47 96.60
Interest received 9.08 19.88 21.77 18.24 3.40
Proceeds from sale of property, plant and equipment and intangibles -0.30 1.02 1.10 0.04 0.81
Payment for purchase of property, plant and equipment and intangibles and capital work-in progress -71.11 -25.96 -54.58 -19.30 -1.05
Other Investing Activities -384.98 392.32 291.99 -1,857.56 -201.63
Net cash flow from / (used in) investing activities -737.80 66.73 220.14 -2,216.35 -101.87
Cash flow from financing activities:
Payment of Borrowings - - - -200.00 -0.18
Proceeds from Borrowings - - - 49.50 148.50
Payment of lease liabilities -46.97 -13.83 -21.87 -7.65 -7.91
Proceeds from issue of equity shares and securities premium 2.20 1.55 1.55 23.98 -
Proceeds from issue of instruments entirely equity in nature - - - 2,733.07 -
Share application money received - - - 0.25 -
Finance costs paid -7.38 -0.94 -1.45 -20.34 -5.02
Net cash flow from / (used in) financing activities -52.15 -13.22 -21.77 2,578.81 135.39
Net (decrease) / increase in cash and cash equivalents -635.46 249.73 505.39 18.97 -118.32

Cash & cash equivalents as at the beginning of the period/year 725.90 220.02 220.02 201.05 319.37
Cash acquired on acquisition of the subsidiary - 0.49 0.49 - -
Cash & cash equivalents for loss of control in subsidiary -3.87 - - - -
Cash & cash equivalents as at the end of the period/year 86.57 470.24 725.90 220.02 201.05

Source: F&S Report 34

Among Most Downloaded Travel Apps In The World & India

2022 Rankings by Market (Travel)

8th Top 10
Most Two apps in
downloaded the top 10 most
travel and downloaded
navigation travel apps in
app globally India

Source: F&S Report

35
GTV & Revenue Splits By Business Segments

GTV Revenue From Operations

Values in INR Mn Values in INR Mn

75,929.25
74,524.30

8,871.03
9,654.15 5,012.50
4,910.21
40.13
65.92

56,152.49 974.05
54,625.81 992.72
3,388.31 3,795.80
7,232.83 12.00 3,643.08
287.48 24.72
40,705.37
44,715.27 711.46

30,201.91

2,168.19 2,977.99 2,759.84

32,687.11

21,532.97 2,174.27
312.11 1,355.66
5,869.23 10.86
11,941.03
386.59
6,285.03 26,352.85 10.14 643.12
20,154.88 343.63
14,705.87 1,020.33 1,091.74
9,066.60 10,621.24 604.44 685.01 732.63

FY21 FY22 FY23 9MFY23 9MFY24 FY21 FY22 FY23 9MFY23 9MFY24

Flight Distribution Flight Ticketing Train Ticketing Bus Ticketing Flight Distribution Flight Ticketing Train Ticketing Bus Ticketing Others

Source: F&S Report 36

Thank You
37