Eclerx Services Limited · NSE:ECLERX
Eclerx Services — Q2 FY24 Earnings Presentation
12 slides from Eclerx Services's earnings presentation, Nov 9, 2023
Slide 1: Financial Performance Q1FY24 – Q2FY24
Investor Relations Financial–Performance Financial Performance Q1FY24 – Q2FY24 Aug 9th, 2023 Nov 9th, 2023
Slide 2: Financial Summary
Financial Summary Metrics FY24 Q2 Q-o-Q FY24H1 Y-o-Y OPG revenue (USD mm) 87.6 4.4% 171.5 5.9% Revenue OPG revenue (INR mm) 7,218 5.4% 14,063 10.9% Total revenue (INR mm) 7,359 6.4% 14,279 8.9% EBITDA (INR mm) 2,189 25.1% 3,938 1.2% Profit EBIT (INR mm)* 1,886 28.7% 3,351 -0.6% Net profit (INR mm) 1
Slide 3: Other Income
Other Income Figures in INR millions. Other Income FY24 Q2 FY24 Q1 FY23 Q4 FY23 Q3 FY23 Q2 Investment Income 76.7 52.3 68.6 66.1 42.8 Revaluation Income* 46.0 -0.0 -42.2 49.0 153.4 Others 18.8 22.7 26.1 62.7 12.5 Total 141.5 75.0 52.5 177.8 208.7 * Gain / Loss regrouped as other income/expenses base
Slide 4: Hedge Updates
Hedge Updates Current Hedge Status • Total outstanding hedges now $214.8 mm at average INR 84.17/$; 100% forwards Contract Year Currency Amount (mm) Avg. Rate (INR) FY23 Q3 $40.8 78.8 FY23 Q4 $41.7 79.7 Matured Forwards Total FY23 USD $159.0 78.6 FY24 Q1 $41.7 80.8 FY24 Q2 $41.7 81.8 FY24 Q3 $45.0 8
Slide 5: P&L Comparison
P&L Comparison Figures in INR millions. Operating P&L FY24 Q2 OPR (%) FY24 Q1 OPR (%) Operating Revenue $ 87.6 83.9 Total Revenue* 7,359 6,920 Operating Revenue 7,218 6,845 Cost of Revenues Delivery and Support Employees Cost 3,677 50.9% 3,664 53.5% General and Administrative Expenses Facilities (Re
Slide 6: QoQ EBIT Bridge
QoQ EBIT Bridge Figures in INR millions 27.5 18.4 12.3 Q1FY24 Operating Revenue Offshore Onshore Q2FY24 EBIT & Oth Inc. Delivery Cost Delivery Cost G&A S&D Depreciation EBIT • Operating revenue up by 5.4% qoq, delivery costs flat • Delivery: 50 HC added onshore • G&A: Decrease by 60bps on account of
Slide 7: Balance Sheet & Other Updates
Balance Sheet & Other Updates • Total Cash and Cash Equivalents of INR 9,102 mm for Q2 FY24 vs INR 7,911 mm for Q1 FY24 - Equivalent to INR 188.8 per share Q2 FY24 vs INR 164.7 for Q1 FY24 - Net operating cash flow in Q2 FY24 is INR 1,605.6 mm vs INR 1,226.6 mm in Q1 FY24 o EBITDA conversion at 73.4
Slide 8: Key Business Metrics
Key Business Metrics Metrics FY24 Q2 FY24 Q1 FY23 Q4 FY23 Q3 FY23 Q2 FY23 Q1 FY22 Q4 FY22 Q3 USD 83% 82% 83% 82% 83% 82% 81% 80% EURO 10% 10% 10% 10% 9% 10% 11% 11% Currency Contribution (%) * GBP 3% 3% 3% 3% 3% 3% 3% 4% Others 4% 5% 4% 5% 5% 5% 5% 5% North America 73% 72% 71% 71% 72% 70% 69% 70% Ge
Slide 9: Revenue Mix Trends ($mm)
Revenue Mix Trends ($mm) 20.0% 7.6% 5.6% $7.1 $7.821.6% $7.0 23.6% $7.7 $6.9 13.5% 19.9% 13.2% 28.3% 20.0% 27.2% 7.6% 35.1% $27.9 $28.1 27.0% $28.1 $25.3 $27.0 10.6% 21.6% 14.6% 19.9% 56.1% 5.9% $50.3 $50.0 $50.4 $51.8 $49.2 20.2% 12.5% 8.6% 3.1% 2.6% 20.2% 12.5% 19.7% 17.7% 30.8% FY23 Q2 FY23 Q3 FY
Slide 10: Human Resources Update
Human Resources Update 16,269 16,333 105 118 15,726 120 1,050 977 Headcount 1,058 861 862 645 870 585 535 13,608 13,791 13,143 FY23 Q2 FY24 Q1 FY24 Q2 Offshore Delivery Onshore Delivery Support Services Tech Services BD 37.1% Offshore Voluntary Attrition 23.8% 21.0% FY23 Q2 FY24 Q1 FY24 Q2 www.ecler
Slide 11: Balance Sheet Abstract
Balance Sheet Abstract Figures in INR millions. Particulars September 30, 2023 March 31, 2023 % Change Shareholder's Funds Capital 482 480 0% Minority Interest 21 17 26% Reserves and Surplus 19,252 16,668 16% Total Shareholder's Funds 19,755 17,166 Application of Funds Fixed Assets 6,378 6,404 0% Ri
Slide 12: Thank You
Thank You This presentation contains forward-looking statements, inter-alia, to enable investors to comprehend company’s prospects and take informed investment decisions. This report and other statements - written and oral - that we periodically make, contain forward-looking statements that set out