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1. Company Overview 3
2. Products 6
3. Customers 12
4. Geographies 14
5. Management 16
6. Financial Performance 19
2
Company Overview
Products
Customers
Geographies
Management
Financial Performance
3
• A Mobile VAS pioneer in Emerging Markets with products such as RBT, Music, Infoservices and Personal Cloud
• Delivers value using white-labeled Managed Services model, with a recurring revenue share business model
• Boston, Cairo, Delhi, Dubai, Johannesburg, Jakarta, Kuala-Lumpur, London, Mumbai, Nairobi, Paris, Silicon Valley, Sao Paulo, Seattle, Singapore, Sydney
• Offices in 45 countries
Business
Company Structure
Global Offices
Customer Impact
• Headquartered in Bangalore, India. Founded in 2000, incubated by Infosys
• Head Count: Around 1,700 employees
• R&D Centers Globally : 6
• FY2014 Revenue: $144 million; publicly listed in India
• Acquisitions: Voxmobili (2007), Telisma (2008), Dilithium Networks (2010), LiveWire Mobile (2013)
4
VAS Pioneer
• 2-4% contribution to Operators’ top-line in large customers
• Generating > $1.25 billion for our customers in revenues
63+ million RBT Users/month
100+ million Unique Users/month
1,500+ million Market Reach
35 million OnCloud Downloads
6 million On Device Portal Downloads
5
9 billion Calls handled/month
Company Overview
Products
Customers
Geographies
Management
Financial Performance
6
4 M
usi
c &
RB
T
•Ring Back Tones
•Reverse Ringback Tones
•Ad-RBT
•Music Platform (Ringtone / Full-track downloads / Video)
•Speech Music Search
•User generated content RBT
•M-Radio
Info
tain
me
nt •Voice
Portals, using Speech Recognition in local languages
• Infotainment (Sports, Jokes, Religion, News, etc.)
C
lou
d &
Sp
eech
•Network Address Book & Social Address Book
•Phone Backup
•Multi-media & Messaging Sync Services
•OnCloud Locker
•OnCloud Secure
Uti
litie
s •Governance
•Health
•Education
7
OnMobile Multimodal Platform
Multi-channel: Voice, SMS, Video, USSD, MMS, 2.5/3G – WAP, On-device portal and handset clients; multiple languages Payment Models: Access, Pay-per-use, Subscription, Sachet Payment Modes: Operator bill, Credit, Debit, Cash Cards
Speech VoiceXML 2.1, SpeechObjects
MRCP for ASR/TTS integration
SLM /Grammar based ASR
Speaker-independent, hotwork recognition speaker identification
Local language models
Telephony SS7, PRI, SIP/RTP
SMS/WAP Portal management system
Local language support
Hosted infrastructure
SMSC: SMPP, CIMD
Apps Differentiated applications for both corporate and consumer markets
Management systems Content management data
warehousing personalization (Collab-filter) 247 NOC
Customer care reporting
Payment Models: Premium access,
subscription, transaction etc.,
Mechanisms: Prepaid/Post-paid credit card, direct debit
Cash card
Multimodal Voice, WAP, SMS local languages
sequential/concurrent
3rd Party Apps
Voice Application
WML Application
X-HTML Application
Location Application
MultiModal Application
Monitoring
station
Firewall
OSS
LAN
Internet
WAP 1x
Gateway
GGSN SGSN
BSS
Radius/DHCP
HTTP SMSC
MSC
OnMobile
Network Deployment
Architecture
T1/E1/J1
C7/PRI/R2
HTTP/Location APIs
MMP2500
Architecture Distributed & scalable
architecture with no single point of failure
High entry barrier + High switching costs
Mobile Positioning
Center
CIMD/SMPP
Billing System
8
● Support for more languages
● 10 Indian languages
● Live Audio streaming
● Ticketing (Railways, Movies)
● CheckMate
● Pricing innovations: Subscription, Not Enough Funds
● M-Commerce: Shopping Mall, I-Pay, Bill Payment
● Multimodal Support including SMS, WAP
● Multi-language WAP
● Try & Buy
● M-Search (Voice & SMS)
● M-Radio
● RBT: Press* to copy
● SMS/USSD
● AdRBT
● Reverse RBT
● Business Intelligence
● Platform – Voice portal 1.0 (English)
● Ring tones
● Karaoke
● Dynamic Voice Mail
● Infotainment
● Indian Languages Model (3 languages)
● Ring back tones
● Contests
● Karaophone
● Customer Lifecyle Management
● Zero Balance Missed Call
● Anti Theft
● Social RBT
● OnCloud Locker
● OnCloud Secure
● OnMobile Developer Network
● Cell Broadcast
● Music Download service
● Converged VAS
● Help Me on Mobile
● Digital Football
● Mobile Kunji
2000-2004 2005-2006 2007-2009 2010 – 2011 2012-2014
9
• Best RBT managed service provider
o Have 50 RBT customers on managed services across 35 countries
o Already managing 63 million+ subscribers on RBT across customers
• Technology Leadership
o Track Record on Innovation
Search & Discovery (* Star to Copy, I-Call-I, Msearch) Pricing Innovations (Pay-per-Use, Sachets), Cross-Operator features
o Integration Expertise with large number of Network Elements, Billing Systems
o Framework-based Open Architecture for faster Innovation
• Unmatched RBT Replacement experience
o Maximum number of RBT replacements by any company
o Replaced all the major RBT vendors and across the world
o Handled large concurrent deployments across Africa and LATAM
10
Media & Content
TV, Radio, Publishing Music, Movies, Video,
Print…
Mobile
Handset Manufacturers,
NEPs, Operators, MVNOs
Internet
Portals, E-Commerce Verticals, P2P, UGC
Enterprises
Enterprises and Governments
Mobile Services
11
Company Overview
Products
Customers
Geographies
Management
Financial Performance
12
Customers
13
92
Company Overview
Products
Customers
Geographies
Management
Financial Performance
14
15
Countries
Customers
Canada
USA
Mexico
El Salvador Nicaragua
Panama
Colombia
Ecuador
Peru
Chile
Venezuela
Brazil
Uruguay
Argentina South Africa
Zambia Madagascar
Guatemala
Costa Rica
Senegal
Sierra Leone
Ghana
Mali
Burkina Faso Nigeria
Niger
Rwanda
Angola Malawi
Tanzania Kenya
Uganda
UK
Finland
Spain
Netherlands Germany
France
Egypt
Italy
Poland
Belgium Romania
Turkey
UAE
Cyprus Pakistan
India
Sri Lanka
Bangladesh
China
Thailand
Malaysia
Singapore Indonesia
Australia
Taiwan
South Korea
Qatar
Saudi Arabia
59+ 92
Company Overview
Products
Customers
Geographies
Management
Financial Performance
16
Name Background
H. H. Haight
Executive Chairman
• MBA, Harvard Business School and Bachelor of Science, University of California, Berkeley
• Over 20 years of experience in the leadership and growth of various enterprise companies
• Previously served as MD in Advent International Corp and CEO in Argo Global Capital, LLC
Rajiv Pancholy Chief Executive Officer and Managing Director
• Has degrees from McGill University, Montreal and Indian Institute of Technology (IIT), Delhi • Over 30 years of experience in the telecommunications industry • Founder, TTP Media and previously served as CEO and Chairman, TenXc Wireless; President and CEO, Mitec
Telecom and President and COO, Microcell Connexions
Sanjay Bhambri Chief Commercial Officer
• MBA from FMS, MS University • Over 18 years of strong experience in industries like IT, Satellite Services, Travel, Telecom, VAS and Energy
utilities • Was previously Senior Vice President, Infratsructure Solutions at Enzen Global Solutions
Florent Stroppa Senior Vice President, Products
• MS, Telecom and Network Architecture, Telecom Paris Tech University • Over 13 years of experience in product management, software engineering, business development and user
experience • Has also worked with Vodafone as Senior Manager, Communication Services and co-founded Wstadium
Christy George Senior Vice President, Technology
• Bachelor of Technology degree from Indian Institute of Technology (IIT), Mumbai • Previously worked at Infosys Technologies and various other companies for more than 8 years
Praveen Kumar Vice President, Finance
• Chartered Accountant • Over 13 years of experience in financial accounting and reporting, revenue assurance, systems implementation,
partnering with business on strategic initiatives, treasury management, taxation and investor relations • Was previously with Hewlett Packard, MetLife India, GE Capital and A F Ferguson
17
Name Background
H. H. Haight
Executive Chairman
• MBA, Harvard Business School and Bachelor of Science, University of California, Berkeley
• Over 20 years of experience in the leadership and growth of various enterprise companies
• Previously served as MD in Advent International Corp and CEO in Argo Global Capital, LLC
Rajiv Pancholy
Chief Executive
Officer and Managing
Director
• Has degrees from McGill University, Montreal and Indian Institute of Technology (IIT), Delhi
• Over 30 years of experience in the telecommunications industry
• Founder, TTP Media and previously served as CEO and Chairman, TenXc Wireless; President and CEO, Mitec Telecom and President and COO, Microcell Connexions
François-Charles Sirois
Additional Director
• BAA in Finance and Marketing from HEC Montreal
• President and Chief Executive Officer of Telesystem and OnMobile Systems
• Over 15 years of experience in corporate mergers, acquisitions and financing
• Founded Microcell i5, Masq and Up2 technologies and serves on the boards of Telesystem, Zone3, Stingray Digital Group and iPerceptions
Naresh Malhotra
Independent Director
• Qualified as a Chartered Accountant in 1970, trained with Price Waterhouse
• Over 35 years of experience in India and overseas in various companies
• Previously served as founding partner and managing director of corporate finance in KPMG in India
• On board of Blue Star Infotech, Royal Orchid Hotels, Amalgamated Bean Coffee Trading Company (Coffee Day)
Harit Nagpal
Independent Director
• BE, Punjab University and Management degree from FMS, Delhi
• Currently the CEO and MD at Tata Sky and was previously with the Vodafone Essar
• Over 25 years of experience in Telecom and consumer marketing positions both in India and overseas
Rajiv Khaitan
Independent Director
• LLB, University of Calcutta
• Over 25 years of experience in general legal practice with focus on business laws
• Currently leads the corporate and commercial law practice of Khaitan & Co LLP at Bangalore
Barry White
Independent Director
• Graduate from Harvard College and Harvard Law School and retired US Ambassador
• An eminent lawyer and thought leader who worked with Mr. Barack Obama in his presidential campaign in 2008
• Was appointed the US Ambassador to the Kingdom of Norway in 2009 and has over 35 years of experience at Foley Hoag, a major law firm in Boston
18
Company Overview
Products
Customers
Geographies
Management
Financial Performance
19
(52.6%)
60.7%
(12.9%) (9.3%) 0.0% 399 642 559 507
(61)
8.8%
11.9%
8.8%
7.0%
(0.7)%
840 1,208
1,399 1,493
1,305
18.5% 22.5% 21.9% 20.6%
15.1%
4,544 5,372 6,380 7,253 8,653
FY10 FY11 FY12 FY13 FY14
Net Revenue (` million)
FY10 FY11 FY12 FY13 FY14
EBITDA (` million) and Margins (%)
Operating Profit (` million) and Margin (%)
20
11.8%
18.2% 18.8%
13.7%
19.3%
Y-o-Y Growth
(34.4%)
43.8%
15.8%
6.7%
(12.6%)
Y-o-Y Growth
FY2014
59%
30%
11%
27%
24% 22%
13%
11% 3%
Profitable mix of diversified revenue sources
Revenue by Geography
Revenue by Products
21
FY2012 FY2013
FY2012 FY2013 FY2014
49%
27%
24% 58%
25%
17%
RBT Voice & Text Services Data and others
56%
11%
12%
9%
6% 6%
39%
23%
14%
14%
6% 4%
Notes: 1 EBITDA normalized for Forex loss of `30 million, `82 million, `30 million and `117 million in Q4 FY2014, Q4 FY2013, FY2014 and FY2013 2 Relate to IP settlement with Synchronoss regarding Voxmobili of `354 million and impairment for Telisma of `680 million 3 Net Profit normalized for post tax impact of Forex loss of `322 million, `82 million, `57 million, `191 million and `117 million in Q4 FY2014, Q4
FY2013, Q3 FY2014, FY2014 and FY2013 and other exceptional items
(` million) Q4
FY2014 Q4
FY2013 %
Y-o-Y Q3
FY2014 %
Q-o-Q FY2014 FY2013
% Y-o-Y
Net Revenue 2,035 1,841 10.5% 2,043 (0.4)% 8,044 7,253 10.9%
India 641 667 (3.9)% 522 22.8% 2,313 2,845 (18.7)%
Latam 488 476 2.7% 497 (1.8)% 2,054 1,661 23.6%
Other Emerging Markets 341 318 7.2% 353 (3.3)% 1,417 1,273 11.4%
Developed Markets 564 380 48.4% 672 (16.0)% 2,260 1,475 53.3%
EBITDA 337 350 (3.6)% 338 (0.1)% 1,453 1,493 (2.7)%
% Margin 16.6% 19.0% 16.5% 18.1% 20.6%
EBITDA (Excl. Forex) 1 367 432 (15.1)% 338 8.7% 1,483 1,609 (7.9)%
% Margin 18.0% 23.5% 16.5% 18.4% 22.2%
Net Profit (1,243) 108 nm 26 nm (984) 472 nm
% Margin (61.1)% 5.9% 1.2% (12.2)% 6.5%
Basic EPS (`) (10.89) 0.95 nm 0.22 nm (8.62) 4.14 nm
Exceptional Items 2 1,034 0 nm 0 nm 1,034 0 nm
Normalized Net Profit 3 113 171 (33.8)% 67 68.9% 241 513 (53.0)%
% Margin 5.6% 9.3% 3.3% 3.0% 7.1%
(` million) Q4
FY2014 Q4
FY2013 %
Y-o-Y Q3
FY2014 %
Q-o-Q FY2014 FY2013
% Y-o-Y
Net Revenue 2,251 1,841 22.3% 2,255 (0.2)% 8,653 7,253 19.3%
India 641 667 (3.9)% 522 22.8% 2,313 2,845 (18.7)%
Latam 488 476 2.7% 497 (1.8)% 2,054 1,661 23.6%
Other Emerging Markets 341 318 7.2% 353 (3.3)% 1,417 1,273 11.4%
Developed Markets 781 380 105.2% 883 (11.6)% 2,869 1,475 94.6%
EBITDA 256 350 (26.7)% 295 (13.1)% 1,305 1,493 (12.6)%
% Margin 11.4% 19.0% 13.1% 15.1% 20.6%
EBITDA (Excl. Forex) 1 286 432 (33.7)% 295 (3.0)% 1,335 1,609 (17.1)%
% Margin 12.7% 23.5% 13.1% 15.4% 22.2%
Net Profit (1,392) 108 nm (84) nm (1,320) 472 nm
% Margin (61.8)% 5.9% (3.7)% (15.3)% 6.5%
Basic EPS (`) (12.19) 0.95 nm (0.73) nm (11.56) 4.14 nm
Exceptional Items 2 1,034 0 0 1,034 0
Normalized Net Profit 3 (36) 171 nm (27) nm (96) 513 nm
% Margin (1.6)% 9.3% (1.2)% (1.1)% 7.1%
Notes: 1 EBITDA normalized for Forex loss of `30 million, `82 million, `30 million and `117 million in Q4 FY2014, Q4 FY2013, FY2014 and FY2013 2 Relate to IP settlement with Synchronoss regarding Voxmobili of `354 million and impairment for Telisma of `680 million 3 Net Profit normalized for post tax impact of Forex loss of `322 million, `82 million, `57 million, `191 million and `117 million in Q4 FY2014, Q4
FY2013, Q3 FY2014, FY2014 and FY2013 and other exceptional items
24
(` million) Mar 31,
2014
Dec 31, 2013
Mar 31, 2013
Long Term Borrowings 443 593 3
Short Term Borrowings 440 732 488
Total Debt 883 1,325 491
Less: Cash & Cash Equivalents
1,240 2,126 2,009
Net Cash / (Net Debt) 357 801 1,518
Net Worth (excluding Goodwill)
6,303 7,229 7,044
o Cash balance affected by IP settlement payment, repayment of loans and forex loss in Venezuela in Q4 FY2014 and payment of minimum guarantee during Q3 FY2014
491 469
1,758
1,325
883
0.4x 0.3x
1.3x
1.1x
0.9x
Q4 FY2013 Q1 FY2014 Q2 FY2014 Q3 FY2014 Q4 FY2014
Debt (Rs. mn) and Debt/EBITDA (x)
Shareholding Pattern Shareholders as on Mar 31, 2014
Shareholder Name Shares (in mn) %
On Mobile Systems 39.0 34.2
Promoter Group 4.7 4.1
Reliance Capital Trustee 8.5 7.4
ICICI Pru Life Insurance 5.4 4.7
Kotak Mahindra (UK) 2.7 2.3
Altruist Technologies 2.1 1.8
Public & Others 52.0 45.5
Total 114.2 100.0
25
Promoters 38%
FIIs 5% DIIs
9%
Public and Others
48%
Market:
o Leading market position: First-mover advantage in India, emerging markets
o Strong international presence enabling us to bring the best-of-breed products/practices
o Immediate foray into North American market with the acquisition of LiveWire Mobile
o Significant MTN deal, presenting a $80-$120 million revenue opportunity over 5 years
Products:
o Breadth of product lines in VAS, ability to cross-sell and piggyback
o Product innovation track record
Operations:
o Strong barrier to entry: Installed base of equipment which is heavily integrated into telco network and OSS-BSS
o Operating scale, billing capability
o Business model and long-term customer contracts
o India-based low cost structure, scalable
o Proven track record, results, customer relationships
o Onsite teams embedded within customers
Management:
o Quality of management team
o Corporate governance and quality of Board
26
OnMobile Global Limited (CIN: L64202KA2000PLC027860)
Tower # 1, 94/1 C & 94/2, Veerasandra Village, Attibele Hobli, Anekal Taluk, Electronic City Phase-1, Bangalore - 560100
Ph: +91 80 4009 6000 Fax: +91 80 4009 6009
www.onmobile.com
Girdhar Patel OnMobile Global
[email protected] +91 80 4009 6707
Anirudh Bhardwaj Churchgate Partners
[email protected] +91 22 3953 7444