Majestic Research Services

and Solutions Ltd.

Investor Presentation

1

May 2016

Disclaimer

This document contains certain forward-looking statements based on current expectation of MRSSIndia. Actual results may vary

significantly from the forward-looking statements in this document due to various risks and uncertainties. These risks and

uncertainties include the effect of economic and political conditions in India, and outside India, new regulations and government

policies that might impact the business of MRSSIndia, the general state of the Indian economy and the management’s ability to

implement the company’s strategy. MRSSIndia doesn’t undertake any obligation to update these forward-looking statements.

This document does not constitute an offer or recommendation to buy or sell any securities of MRSSIndia or any of its subsidiaries

or associate companies. This documental so doesn’t constitute an offer or recommendation to buy or sell any financial products

offered by MRSSIndia .

Prospective investors will be expected to have conducted their own due diligence investigation regarding these and all other matters

pertinent to investment in the Company.

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Content

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1

7 27

6 22

5 20

17

3 11

2

4

8 35

MRSS Introduction

Business overview

Industry Trends

Techniques We Use

Our Clients

Our Promoters & Executive Board

Financial Highlights

The Road Ahead

6

39Awards and Ratings9

4

MRSS Introduction

4

Brief Introduction

• MRSS INDIA: largest independent Market Research Agency in India

• Offering includes a wide range of Qualitative and Quantitative Research Services nationally and internationally.

• Expertise in communities. mobile and online panels for quicker and richer contact with consumers.

• MRSS is a part of Majestic MRSS

• Relying exhaustively on usage of technology for data acquisition thereby ensuring reliability, external validity as also

faster turnaround time.

5

Business overview

6

Importance of Market Research

Audiences are

increasingly screen,

platform and

device agnostic

Consumers are buying

in new ways, across new

channels

Clients’ information

and insights needs

are increasing

7

Business overview

Business model

MRSS India has a robust business model with defined workflows to ensure a timely and efficient delivery of Services.

BusinessDevelopment

Presentation/Proposal

ProjectexecutionRFQ

MRSS India generatesnew clients by a variety ofmethods including:

The pre-engagement

process begins with

MRSS India receiving

a Request For

Quotation (RFQ) from

potential customers.

MRSS India prepares apresentation/proposal consisting of:

Once the mandate is won, the

experienced qualitative and/or

quantitative teams in the

respective geographies will run

the project.

deliverables

on completion

The Company usually

approaches larger

international corporates.

The engagement success is usually

dependent on the quality of the

proposal, price, relationship with client

and the track record of the firm.

Source: Management disclosures

50% payment upfront

Remaining

50% paymentProject Costing Study duration

Targeted pitching to short listed

potential clients

Regular participation in

events

Reduction in credit risk

Design & methodology of

study

StudyWord of mouth

Its brand name in the market

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Business overview

Overview of service offerings

Comprehensive suite of end to end service offerings

MRSS India offers a broad suite of customized solutions that cater to business at various stages of product development or launch. The Company focuses on market research,advertising research, brand research and consumer research, but also offers an array of other research services to assist companies in developing more successful products andstronger brands. From pre-production market sizing to post-product launch monitoring, MRSS India has the appropriate resources and regional expertise to provide tailored solutions forits clients.

1 2 3 4

New Product

Development &

Testing

Mobile & Real-Time DataAnalytics

Sensory &Ideation

BrandCommunications

Tracking &Monitoring

Market Scoping

Pre-product

development stage Product development & optimizationAdvertising & product

positioning Post-product launch monitoring

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Consumer3D

Consumption

landscaping

Usage &

attitude studies

Sensory

Consumer

Conjoint analysis

Volumetrics

Sensory Lab

Emotion measurement

studies

Perception analyser

Advt. Effectiveness

Brand health tracking

Mystery shopping

Eye tracking

Wakoopa(Path to Purchase)

Curious Mobile Analytics

Brand communications

Sensory & Ideation

Market scoping

Source: Management disclosures

Tracking & Monitoring

Mobile & real-time data analytics

New product development & testing

End-to-end service

offerings

Wide array of research

methods

Specifically tailored

solutions

Quantitative and QualitativeOutputs

Value to clientsServices offered

Broad suite of end-to-end research service offerings

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Post-product launch monitoring

Advertising & product positioning

Product development &optimization

Pre-product development stage

Industry Trends

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Industry Trends

34,544

39,466 39,660

43,285 43,864

-

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

45,000

50,000

2010 2011 2012 2013 2014

Global Market Research Turnover (Us$m)

North America, 43%

Europe, 37%

Asia Pacific, 14%

Latin America, 4%

Africa, 1%

Middle East, 1%

Global Market research Turnover 2014

North America Europe Asia Pacific

Latin America Africa Middle East

US$ 43,864 Million

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Asia Pacific is one of the most optimistic regions

0.30%

-0.90%

1.70%

-0.30%

2.60%

9.10%

0.10%

-2.00%

0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

NorthAmerica

Europe AsiaPacific

LatinAmerica

Africa MiddleEast

World

Net Growth Rates (Adjusted for Inflation)

170

249

263 252

267

-

50

100

150

200

250

300

2010 2011 2012 2013 2014

India Market Research Turnover (US$m)

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India Ranked 17th as Per Market Size

5%

11%

19%

14%

16%

0%

5%

10%

15%

20%

25%

-

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

180,000

India USA U.K. Germany France

MR as % of Advertisement spend

Ad Spend Market Research MR as a % of Ad spend

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India Ranked 17th as Per Market Size

Manufacturing, 47%

B2B, 4%Wholesale and Retail, 10%

Financial Services, 2%

Utilities, 1%

Telecommunications, 6%

Public Sector, 6%

Media, 5%

Advt. Agencies, 1%

Research Insti., 18%

Spend By Client Type (%)

15

India Ranked 17th as Per Market Size

Consumer Non-Durables

83%

Consumer Durables4%

Pharma2%

Automotive11%

Breakdown of Manufacturing clients (%)

Consumer Non-Durables Consumer Durables Pharma Automotive Other Manufacturing

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Techniques We Use

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Quantitative Techniques

Face to Face Interview Online Survey Perception Analyser

CATI & CAPI

SMS Based Survey Eye Tracker

Neuroscience Digital Behaviour Tracking Communities Sensorial MR

Social Media ListeningFacial Recognition

Indoor Audience Management

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Qualitative Techniques

01

02

03

04

05 06

07

08

09

10Focus Group Discussions

Extended Creativity Groups

Conflict Groups

In-Home Interviews

In Store Interviews

Ethnographic Approaches

Dyad/Triad

Exit Interviews

Gang Surveys

Online Focus Groups

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Our Clients

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Across Industry Verticals

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Our Team

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Our Promoters & Executive Board

A dynamic personality from the field of Market Research. Professional experience in Procter & Gamble India Ltd, MRAS,Dun & Bradstreet. Last role with AC Nielsen where he spent over a decade, and left as MD South Asia and GreaterChina 2007-08. An alumnus of Jamnalal Bajaj Institute of Management Studies. Has worked as a partner with MRASBurke, Smart Spaces. A member of Market Research Society, London, Managing Committee at MRSI, the BrandProtection Committee at FICCI

Sarang Panchal Managing Director

A visionary and entrepreneur working in the field of Market Research from the last 20 years with a mission to excel in theIndustry with trust and confidence. Co-founder of Majestic Group, Asia’s Largest Independent Full Service MarketResearch Firm. Extremely good understanding of global markets - Extensive interactions with the US from the east tothe west coast. International Features Editor for QRCA VIEWS, a publication of QRCA (Qualitative ResearchConsultants Association). Associations with ESOMAR, AEMRI, MSPA, WAPOR, AIAI, FICCI, CII, ePHMRA, AQR

Raj Sharma Chairman & CFO

Executive Director of Majestic Group with exceptional experience in the field of marketing with fortune 500 companies

Juris Doctor (JD) from Duke Law School BA in Economics from UCLA. Close relationships with several FTSE 100 and

Fortune 500 companies. Has close relationships with some of the largest Market research firms in the world including

various arms of The WPP group, The VNU group and The Omnicom Group

Sandeep Bhatia Executive Director

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Our Team

Mr. Rajesh Kumar (Head of Public Sector Practise)

Rajesh has a Market Research career spanning 36 years, spent in reputed organizations like L&T, Voltas & Tata

Motors. Joined Tata Motors in 1986 and was responsible for setting up Market Research Department from scratch. He

has conducted surveys on Need-based segmentation of SUV & MUV markets, and on forecasting relative shares of

cars operating on different fuels for different fuel prices.

Mr. Chandramauli Guin (Head Government Practice)

Chandramouli Guin has 20 years of rich experience in market research & business advisory services across industry,

trade & development sectors in India for leading private enterprises, government and international funding agencies.

His core competency lies in Skill Development, Textile, Agriculture and allied industries, Automobiles, Infrastructure,

Oil and Gas, Power, Chemicals and Petro Chemicals, Consumer Durables, Environmental Science, Food Processing

FMCG (limited), Pharmaceuticals, Housing and Real Estate, Travel & Tourism industry etc.

Dr. Manish Ganvir (Vice President - Insight sciences)

Dr. Manish has 13 years of rich experience in areas of market research and consumer insights. His experience spans

both qualitative and quantitative researches in sectors such as Auto, FMCG, Insurance, Media, OTC and Pharma. He

has expertise in marketing / advertising campaigns, NPD, media buying and activation. He also has training in

sensory evaluation and has managed evaluation and expert sensory panels.

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Our Team

Jyoti Katke (Head – Client Servicing)

Jyoti comes with a wealth of research and leadership experience across sectors. Jyoti has over 14 years of research

experience across sectors working with Market Research companies like Nielsen and Market Probe.Her range of

experience includes handling research projects for industry segments such as BFSI, Auto, Agri, Chemicals and

petrochemicals, Engineering, Pharma, Paper and packaging, Textile and several other service industries and

successful handling of 200+ clients in a span of 15 years. Jyoti 's main activities are to utilize her project management

skills from a large variety of research methodologies to manage one of MRSS India’s customized research teams, to

build value added research services for MRSS India’s current and potential clients.

Satish Belani (Measurement Science Guru)

Satish has over 25 years of work experience in Market Research Analytics, multivariate & Conjoint analysis. He was

the Director Operations, South Asia at Nielsen and responsible for all Data analysis delivery, training, recruitment and

helping client service in project design and management. He is a IBM certified SPSS Modeler (A Data Mining

Software) Professional. A member on MRSI panel to develop new SEC system. In Nielsen he won Global Excellence

Award for Pricing Research on Reverse BPTO (Brand Price Trade Off).Satish has a degree in M. Phil & specialization

in Laser Physics from Mumbai University and research at BARC. He has also completed a certificate course in Data

Analysis for Marketing Decisions from IIM (A).

Iftekhar Shaikh (Senior Research Manager)

Iftekhar has 9+ years experience in the core market research with successful track record of delivering best research

solutions to Indian and MNC clients.Expertise in B2C, B2B & Agri Research Analysis, Consulting, Relationship

Management and business development.Main areas of focus being projects related to Brand Awareness, , Market

analysis, Opportunity assessment, Customer satisfaction studies, Consumer U&A, Customer segmentation,,

Competitive intelligence and Strategy formulation.Prior to joining MRSS India, Iftekhar has worked with leading

companies like Nielsen and Market Probe.

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Our Team

Meghna Mathur (Project Head)

Meghna has over 12 years of work experience in IT, Media research and Planning. Her expertise spans across IT

Programming and consulting, Media research and campaign planning. She has worked extensively on TV

measurement system, indepth quantitative analysis of TV viewing habits and competition. She has also been involved

with the holistic campaign planning across print, TV, digital and radio for Telecom, FMCG and Media

Archana Pai (vice president custom research (south)

Ms Archana Pai has 9 years of work experience and 4 years of significant experience handling projects in diverse

domains such as Ecommerce, Retail, Telecom, Manufacturing, Infrastructure etc at CSMM, IMRB. Her key strengths

are in Project & Team Management, Client/Account Management, Solution based thinking, Focused execution,

proficient presentation skills. Archana's core competence lies in Planning, Interviewing/Interacting, Communication,

Delivering under pressure circumstances, End Presentation of findings.

Jyotsana Bohra (Engagement Manager - Qualitative)

Jyotsana has 9 years of research experience in Pharmaceutical industry, ranging from making presentation on critical

customer and market trends, analyzing customer needs, perceptions and behavior through combination of proprietary

and syndicated customer research studies. She is involved in end-to-end process of Market Research studies, right

from developing research questionnaires, analyzing and interpreting the data to preparing deliverables with useful

insights from the findings.

She has done B.Sc in Biology from Lachoo Memorial College of Science and Technology Rajasthan and her Post

Graduate Programme in Finance and Marketing from Indian Institute of Planning and Entrepreneurship Management,

New Delhi.

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Financials

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Financial Snapshot

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BALANCE SHEET AS AT 31ST MARCH 2016

Financial Snapshot

29

STATEMENT OF PROFIT & LOSS FOR THE YEAR ENDED 31ST MARCH 2016

Financial Highlights

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4.8

22.6

55.1

112.7

0

20

40

60

80

100

120

2012-13 2013-14 2014-15 2015-16

Revenue (Rs. Mn.)

Revenue (Rs. Mn.)

0.14

1.34

5.33

19

0

2

4

6

8

10

12

14

16

18

20

2012-13 2013-14 2014-15 2015-16

Profit (Rs. Mn.)

Profit (Rs. Mn.)

Financial Highlights

9

14

25

0

5

10

15

20

25

30

FY 2013-14 FY 2014-15 FY 2015-16

Profit Before Tax (%)

Profit Before Tax (%)

6

10

17

0

5

10

15

20

FY 2013-14 FY 2014-15 FY 2015-16

Profit After Tax (%)

Profit After Tax (%)

11

19

28

0

5

10

15

20

25

30

FY 2013-14 FY 2014-15 FY 2015-16

EBITDA Margin (%)

EBITDA Margin (%)

1012

16

0

5

10

15

20

FY 2013-14 FY 2014-15 FY 2015-16

Book Value Per Share (Rs)

Book Value Per Share (Rs)

31

Financial Highlights

2 2

5

0

1

2

3

4

5

6

FY 2013-14 FY 2014-15 FY 2015-16

EPS (Rs)

EPS (Rs)

2

3

5

0

1

2

3

4

5

6

FY 2013-14 FY 2014-15 FY 2015-16

Cash EPS (Rs)

Cash EPS (Rs)

32

Consistent Performance

4

14

28

0

5

10

15

20

25

30

FY 2013-14 FY 2014-15 FY 2015-16

Return on Net Worth (%)

Return on Net Worth (%)

6

18

40

0

5

10

15

20

25

30

35

40

45

FY 2013-14 FY 2014-15 FY 2015-16

Return on Capital Employed (%)

Return on Capital Employed (%)

33

Share Holding Pattern

Promoters 73%

Public 27%

Promoters Public

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The Road Ahead

35

Industry Outlook

Consumers admit to

technology

dependence

With digital India

initiative, Industry has

huge potential to grow

Global Market for

market research is

growing

exponentially due

to digital revolution

India sitting on cusp

of digital revolution:

Ravi Shankar Prasad

A B C D

36

Future Growth Drivers

INORGANICORGANIC ( Linear)

Tripling Human Resource

Acquiring New Technologies

Acquisitions

ORGANIC (Non Linear)

Syndicated Research: Productisation of Services.

Market research online communities

Industrial research reports

Social Research and opinion polls

Business to Government Sector.

37

Strong potential for growth in the region

Plans to implement strategic initiatives for growth

38

B2G segment

Tripling Human

Resources

And Acquiring New

Technologies

Forming strategic

alliances and

acquisitions

Syndicated

Research

1

2

3

4

Awards and Ratings

39

Future Growth Drivers

SMERA Rating of

SE-1A

( Highest

performance and

financials ratings )

Digital Market Research Agency of the year at the Mobile & Digital Marketing Summit

CMO - Digital Innovation Award.

Raj Sharma, Chairman, MRSS INDIA Ltd. won Digital Entrepreneur award at the Mobile & Digital Marketing Summit

MRSS India ranked in top 50 most valuable consultant companies by 'Insight Success'.

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Future Growth Drivers

Objective : To become the largest and most profitable Independent Asian MR agency by FY 2018

Strategic intent : Continue to drive sustainable exponential growth in revenues and profits over next decade.

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• Images used in this presentation are for representation purpose only.

Thank YouMRSSIndia

Tel: 91-22-2654 0719

Email: info@mrssindia.com

Website: www.mrssindia.com

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