Emudhra Limited · NSE:EMUDHRA
Emudhra — FY2022 Earnings Presentation
45 slides from Emudhra's earnings presentation, Jun 12, 2022
Slide 1: Exchange filing cover letter for earnings presentation
EL/SEC/2022-23/ 08 June 12, 2022 Corporate Relationship Department The Manager Listing Department BSE Limited National Stock Exchange of India Limited 1st Floor, New Trading Ring Rotunda "Exchange Plaza', C-1, Block G Building, P J Towers, Dalal Street, Fort, Bandra-Kurla Complex, Mumbai 400 001 Ban
Slide 2: FY2022 Investor Presentation
FY2022 Investor Presentation Trust Authentication Digital e-Signatures Services and Access Transformation June 2022 www.eMudhra.com
Slide 3: Table of Contents
Table of Contents 1 FY2022 Financial Performance 2 Company Overview 3 Product Portfolio and Applications 4 Industry Review 5 eMudhra Investment Case 6 Annexures
Slide 4: FY2022 Financial Performance
1 FY2022 Financial Performance
Slide 5: eMudhra: One Stop Shop Solution Provider in Secure Digital Transformation
eMudhra: “One Stop Shop” Solution Provider in Secure Digital Transformation Market Leadership as the Largest Licensed Certifying Authority in India “One Stop Shop” Player Market Leader “One Stop Shop” Player in Secure Digital Largest licensed CA in India with 37.9% market share Transformation in Dig
Slide 6: FY2022 Performance Highlights
FY2022 Performance Highlights Delivering Strong Growth on All Key Parameters Revenue from Operations Revenue growth driven by both Trust Services and Solutions primarily due to new customer acquisition, Rs. 1,826 Mn international market expansion, and incremental cross sales + 38.8% YoY EBITDA Net P
Slide 7: Capital Structure
Capital Structure Strong Financial Performance and Position FY2019 FY2020 FY2021 FY2022 (Rs. Million) Long Term Debt 188 262 221 198 Short Term Debt 77 125 87 256 Total Debt (A) 265 387 308 454 Cash and Cash Equivalents (B) 23 92 77 133 Net Debt (A-B) 242 296 231 321 Total Equity 756 931 1,166 1,536
Slide 8: Financial Performance
Financial Performance eMudhra Track Record of Delivering Consistent Growth with Accelerated Profitability Revenue From Operations (Rs. Mn) 21.6% 1,826 CAGR 1,316 1,165 1,016 FY19 FY20 FY21 FY22 EBITDA Profit after Tax 28.7% 688 33.1% 411 CAGR CAGR 408 254 323 323 37.4% 174 184 19.1% 22.4% 15.8% 31.8
Slide 9: Key Business Indicators
Key Business Indicators Retention Ratio Greater than 90% and Top 10 Customers Contribution Less Than 35% Revenue Mix (Trust Services vs Solutions) Revenue Mix - Geography (Rs. Mn) 349 980 146 255 601 643 102 356 1,477 846 914 1,019 1,061 654 563 672 FY19 FY20 FY21 FY22 FY19 FY20 FY21 FY22 Trust Serv
Slide 10: Trust Services – Operational Performance
Trust Services – Operational Performance Strengthen Network of Channel Partners To Drive Future Growth # of DSC issued (Channel) # of Users (Retail) # of Channel Partners (in Mn) (in ‘000) (in ‘000) 2.43 191.20 2.28 2.14 95.87 1.63 115.91 55.29 76.53 42.56 60.39 27.58 FY19 FY20 FY21 FY22 FY19 FY20 F
Slide 11: Enterprise Solutions – Operational Performance
Enterprise Solutions – Operational Performance Enterprise Solutions Net Addition of 196 Clients in FY2022 Enterprise Customers Enterprise Customers – FY22 Number of SI Partnerships – FY22 3 714 34 178 97 518 359 394 288 249 142 150 FY19 FY20 FY21 FY22 BFSI Government Private Sector India MEA APAC Am
Slide 12: Strong Return Ratios
Strong Return Ratios Return on Equity and Capital Employed Ratios at Four Year High Return on Equity % Return on Capital Employed % 30.4% 34.1% 33.0% 31.0% 26.0% 24.0% 28.0% 21.8% FY19 FY20 FY21 FY22 FY19 FY20 FY21 FY22 Net Capital Turnover Ratio Trade Receivables Turnover Ratio Trade Payables Turno
Slide 13: Company Overview
2 Company Overview
Slide 14: eMudhra: In a Nutshell
eMudhra: In a Nutshell eMudhra enables enterprises and consumers to transact securely through a combination of trust services (digital signatures), cyber security and digital transformation solutions 1,826 37.9% Market share as the largest Certifying Authority in India 21.7% mn 5 Year Revenue CAGR R
Slide 15: Company Evolution
Company Evolution Increase in Digital Global CA Operations & Launch of empower Listing at NSE and BSE Signature Adoption launch of PKI solution Digital Signatures adopted Launched emCA – Launched empower – eMudhra successfully and implemented across Certificate Lifecycle Cloud Reseller Program liste
Slide 16: Business Lines: Trust Services and Enterprise Solutions
Business Lines: Trust Services and Enterprise Solutions Digital Tust Enterprise Services Solutions Individual/ Paperless workflow Organizational Certificates with digital signatures Constantly invested into Provide cryptographic augmenting product capabilities digital identities to to build as a ‘on
Slide 17: Global Recognition, Strong Partnerships with Indian and Global Majors
Global Recognition, Strong Partnerships with Indian and Global Majors Global Accreditations and Recognitions Technology Partnerships • 1st in the identity and Digital Recognised in Gartner Trust Category eSignature Guide as a “Global Full Service Enterprise” solution Software • Top Vendors in India
Slide 18: Focus on Thought Leadership, Quality and Security
Focus on Thought Leadership, Quality and Security Global Memberships Quality and Security Certifications 17
Slide 19: Key Customers
Key Customers Diverse, Long-standing Relationship with High Customer Retention Tech / Software BFSI Others Enterprise Solution Users (Dec-21) 6 out of top 10 10 out of top 19 out of top 20 Automotive 10 Banks companies Companies Amongst the top 500 ranked companies in India by Economic Times in Fina
Slide 20: Competitive Edge
Competitive Edge “One Stop Shop” Secure Digital Transformation Solution Provider with Strong Domestic and International Presence Delhi Mumbai India’s No.1 Digital Identity and Trust Provider Pan India Direct Kolkata Presence and ✓ Channel Network Strong Brand Recall Hyderabad Trust Services Bangalor
Slide 21: Board of Directors
Board of Directors Mr. Venkatraman Srinivasan Ms. Chandra Iyer (Founder & Chairman) (Independent Director) • 30+ years of experience in IT Industry • Member of Board Lords Freight (India) Private Limited, • CA (Ranker), CWA, CS, Bachelors from University of Madras. Mahindra Retail Limited and Mumbai
Slide 22: Experienced Senior Management
Experienced Senior Management Kaushik Srinivasan, CFA Janarthanan S (SVP – Product Development) (SVP & Head - Customer Success) • Associated with eMudhra since 2015 • Overall 15+ years of experience • Prior experience with Trafelet Delta Funds and with • Prior experience with e-Serve International L
Slide 23: Product Portfolio and Applications
3 Product Portfolio and Applications
Slide 24: eMudhra Product Portfolio
eMudhra Product Portfolio Product Portfolio: Digital Certificates, emSigner, emCA and emAS 1 Digital Signature Certificates 2 New Areas of Application Going “Paperless” Comprehensive Single Sign On Advanced & Global Roles and Workflow AI & OCR and Active Sustainability Blockchain eSignatures Permiss
Slide 25: Digital Signatures Certificates – Overview
Digital Signatures Certificates– Overview eMudhra is a Market Leader in Digital Trust Services in India ▪ The digital signature certificates provide cryptographic digital identities to individuals, organizations, websites and devices controlled over internet while ensuring authenticity ▪ Digital Tru
Slide 26: emSigner – Overview
emSigner – Overview emSigner is an eSignature workflow platform with support for all types of eSign (India), eStamping and global eSignatures and powerful capabilities for complete workflow automation API Interface (intuitive and lots of configuration flexibility) Core Banking API/Gateway eSign Indi
Slide 27: emSigner – Use Cases
emSigner – Use Cases Sales Human Resources Finance - Sales order Processing - Offer Letters - Invoice Processing - Customer Account - New Hire Paperwork - Expense Processing - Provisioning - Candidate NDA - Credit Notes and Debit Notes - Special Deal Terms On/Off boarding Checklist - Audit Sign-off
Slide 28: emSigner – Case Study
emSigner – Case Study One of the largest Banks in the Middle East region has adopted emSigner for Enterprise wide Banking Paperless Transformation Started with a single department use case – Transaction Banking UAE Pass based onboarding, (Facility Letters, Escrow, 2020 Remittances) 2021 SOW Sign Off
Slide 29: emAS – Overview
emAS – Overview emAS is a comprehensive Identity and Access Management platform with support for 15 modes of authentication, single sign on and centralized access management of users Authentication Authorization • Single Sign-on • SAML 2.0 • Roles • OpenID Connect • Groups • Agentless Desktop SSO em
Slide 30: emAS – Case Study
emAS – Case Study A large Defence Force that implemented emAS for enhancing security and centralizing access across several applications for a very large user base Problem Solution • Implemented SSO across divisions • Has complex organization structure • Efficient online process using emAS for handi
Slide 31: emCA – Overview
emCA – Overview emCA is a core PKI solution for setup of Certifying Authorities and for managing user, website and device certificates Discovery Vulnerability Secure Key Certificate/Ke Scan assessment Management y Compliance Authentication and Authorization Inventory Scheduling Provisioning Blacklis
Slide 32: emCA – Case Study
emCA – Case Study A large European payments and payment security company uses and resells emCA to its end customers for IoT certificate deployment Evaluated our product against competition and Won our first order found to be better in from European 2020 terms features and 2021 customer with usabilit
Slide 33: Industry Overview
4 Industry Overview
Slide 34: Global Market Opportunity
Global Market Opportunity Global Digital Security and Paperless Transformation Market Global Industry Growth Drivers… Growth Outlook – FY26 Market Growth Estimates Enterprises are fast moving towards paperless offices and 22% Digital Transformation is key in today’s context irrespective of 19% 18% 1
Slide 35: India - Growth Potential Backed by Favorable Industry Tailwinds
India - Growth Potential Backed by Favorable Industry Tailwinds Growth in Indian Digital Trust Services Market Domestic Industry Growth Drivers… Growth Outlook – FY26 Segment Growth Estimates Increasing adoption of Digitalization and support from 20% 20% 20% 18% 18% 19% 19% 17% 17% government polici
Slide 36: India's Paperless Transformation Market Expected to Grow > 30% CAGR
India’s Paperless Transformation Market Expected to Grow > 30% CAGR eMudhra with its Unique Positioning and Strengths could be a Strong Beneficiary of India’s DX Journey Mission Mode Projects one of the Pillars of Digital India Programme offers Significant Growth Opportunities with 44 Projects that
Slide 37: eMudhra Positioning
“One Stop Shop” for Secure Enterprise Paperless Transformation A combination of positioning, product capability, flexibility and competitiveness is aiding acceleration of eMudhra’s growth in global markets • Products across Identity, Authentication and Signing with strong capability • 1 Platform Gar
Slide 38: eMudhra Investment Case
5 eMudhra Investment Case
Slide 39: Strategies for Future Growth
Strategies for Future Growth Strengthen Digital trust is emerging as the foundation for digital transformation and Leadership in eMudhra is in a market leadership position with capabilities for certificate Indian Trust issuance and solutions for identity, authentication and authorization Service Mar
Slide 40: eMudhra at Inflection point
eMudhra at Inflection point Largest licensed Certifying Authority in India with 37.9% market share in the digital signature certificates segment ‘One stop shop’ solution provider in secure digital transformation and well- positioned to capture the favorable emerging industry dynamics in Indian and G
Slide 41: Annexures
il Annexures
Slide 42: Consolidated Statement of Profit and loss
Consolidated Statement of Profit and loss Y-o-Y CAGR (FY19-22) FY2019 FY2020 FY2021 FY2022 (Rs. Million) Growth(%) Growth(%) Revenue from Operations 1,016 1,165 1,316 1,826 39% 22% Other Income 1 3 9 11 28% 125% Total Income 1,017 1,168 1,325 1,837 39% 22% Operating Expenses 111 131 129 120 Purchase
Slide 43: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (In Million) FY21 FY22 Equity and Liabilities (In Million) FY21 FY22 Non-Current Assets 1,466 1,667 Total Equity 1,166 1,536 Property, plant and equipment 657 659 Equity 351 351 Other equity 723 1,172 Right-of-use assets 134 105 Other non-current assets 93 13 Capita
Slide 44: Disclaimer and Contact Information
Disclaimer and Contact Information Disclaimer This presentation contains statements that are “forward looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to “eMudhra” future business developments and
Slide 45: eMudhra global offices and corporate office
eMudhra enables enterprises and consumers to engage, exchange information and transact securely, efficiently and Amsterdam with enhanced customer experience. Bengaluru Bogota Dubai Corporate Office: Jakarta ClN - U72900KA2008P1C050368 New Jersey No.56, Sai Arcade, 3rd Floor, Outer Ring Road, Devarab