Slide 1: Exchange cover letter: Press release, Fact Sheet & Web Presentation
July 20, 2023 The Manager, The General Manager, Department of Corporate Services Department of Corporate Services BSE Limited The National Stock Exchange of India Floor 25, P.J. Towers, Limited Dalal Street, Mumbai – 400 001 Exchange Plaza, BSE Scrip code – [532541] Plot No. C/1, G Block, Bandra Kur
Slide 2: Robust revenue growth in Q1 lays a very strong foundation for the year
Robust revenue growth in Q1 lays a very strong foundation for the year Q1 Revenue up 21.4% Y-o-Y. Q1 revenue up 2.7% Q-o-Q in cc terms. Coforge signs a five-year US$ 300 M TCV deal in the Banking space. Net headcount increases by 1,000 employees. Revenue up 18.4% Y-o-Y and 2.7% Q-o-Q in CC terms.
Slide 3: Q1FY24 – Awards, Recognitions and Partnerships
The firm reiterates its fiscal year 2024 annual revenue growth guidance of 13% to 16% in constant currency terms and reaffirmed gross margin improvement of 50 bps compared to FY23. Q1FY24 – Awards, Recognitions and Partnerships Coforge secured the esteemed Great Place to Work 2023-2024 award for t
Slide 4: Forward Looking Statements Safe Harbor
Forward Looking Statements Safe Harbor This presentation contains forward-looking statements. In some cases, you can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “predicts,
Slide 5: Consolidated Profit and Loss Statement (INR Mn)
Coforge Limited Consolidated Profit and Loss Statement 3,151 30th June 2023 81.7 INR Mn Particulars Q1 FY24 Q4FY23 QoQ% Q1FY23 YoY% Gross Revenues 22,210 21,700 2.4% 18,294 21.4% GM% 30.7% 34.1% -342 Bps 30.4% 29 Bps Selling / General And Administration 3,264 3,150 3.6% 2,543 28.3% SG&A to Revenue %
Slide 6: Consolidated Profit and Loss Statement (USD Mn)
Coforge Limited Consolidated Profit and Loss Statement 30th June 2023 USD Mn Particulars Q1FY24 Q4FY23 QoQ% Q1FY23 YoY% Gross Revenues 271.8 264.4 2.8% 238.7 13.9% GM% 30.7% 34.1% -342 Bps 30.4% 30 Bps Selling / General And Administration 39.9 38.4 4.1% 33.2 20.4% SG&A to Revenue % 14.7% 14.5% 18 Bp
Slide 7: Consolidated Balance Sheet
Coforge Limited Consolidated Balance Sheet 30th June 2023 INR Mn As at Jun 30 As at Mar 31 As at Jun 30 As at Jun 30 As at Mar 31 As at Jun 30 Particulars Particulars 2023 2023 2022 2023 2023 2022 Equity 611 611 609 Fixed Assets 6,796 6,820 6,288 Reserves & Surplus 31,274 30,214 26,723 Capital Work
Slide 8: Analyst Data Sheet: Revenue, Order Book, Vertical Mix
Analyst Data Sheet Period Ended June 30, 2023 Revenue and Revenue Growth Q1FY24 Q4FY23 Q1FY23 Q-o-Q CC Revenue Growth 2.7% 4.7% 2.7% Revenue (USD Mn) 271.8 264.4 238.7 Q-o-Q Growth 2.8% 5.0% 2.7% Y-o-Y Growth 13.9% 13.8% 19.5% Revenue (INR Mn) 22,210 21,700 18,294 Q-o-Q Growth 2.4% 5.6% 5.0% Y-o-Y G
Slide 9: Analyst Data Sheet: Client Data and People Data
Analyst Data Sheet Period Ended June 30, 2023 New Clients Added Q1FY24 Q4FY23 Q1FY23 Americas 4 6 6 EMEA 1 2 4 Rest of World 1 2 2 Total 6 10 12 Repeat Business % 96% 92% 96% Client Data Client Concentration (% of Revenue) Q1FY24 Q4FY23 Q1FY23 Top 5 25.1% 23.0% 22.9% Top 10 37.7% 35.5% 35.5% No. of
Slide 10: Investor Presentation Q1FY24
Investor Presentation Q1FY24 July 20, 2023
Slide 11: Safe Harbor and Disclaimer
2 Safe Harbor and Disclaimer Forward Looking Statements Safe Harbor This presentation contains forward-looking statements. In some cases, you can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,”
Slide 12: Signed a five-year $300 Mn TCV deal in Banking space in Q1
Signed a five-year $ 300 Mn TCV deal in Banking space in Q1 Financial Highlights Business Highlights ▪ On consolidated basis, Q1FY24 revenues were up 2.7% ▪ Robust total order intake of $531 Mn during the quarter QoQ and 18.4% YoY on a constant currency basis. ▪ Signed largest ever deal of $300 Mn T
Slide 13: Revenue up 21.4% Y-o-Y; PAT up 10.4% Y-o-Y in INR terms
Revenue up 21.4% Y-o-Y; PAT* up 10.4% Y-o-Y in INR terms Revenue (INR Mn) 2.4% QoQ 21.4% YoY Adj. EBITDA (INR Mn) 17.7% YoY PAT* (INR Mn) 43.9% QoQ 10.4% YoY ₹ 21,700 ₹ 22,210 ₹ 4,244 ₹ 18,294 ₹ 3,545 ₹ 3,012 ₹ 1,653 ₹ 1,497 ₹ 1,148 Q1FY23 Q4FY23 Q1FY24 Q1FY23 Q4FY23 Q1FY24 Q1FY23 Q4FY23 Q1FY24 Reve
Slide 14: Well Diversified Business Portfolio with Increasing Offshoring
Well Diversified Business Portfolio with Increasing Offshoring Revenues By Vertical By Service Offering By Geography 9.5% 9.4% Q1 FY24 Revenues Mix 27.8% 11.5% 11.7% 31.1% 25.6% 49.7% 38.6% 18.5% 24.0% 22.6% 20.0% Banking & Financial Services (BFS) Insurance Americas Product Engineering Travel, Tran
Slide 15: Very Significant Business Momentum Driving Robust Growth
Very Significant Business Momentum Driving Robust Growth FRESH ORDER INTAKE TCV ($ MN) $1,482 $1,265 $1,151 $748 $781 $646 $457 $507 FY17 FY18 FY19 FY20 FY21 FY22 FY23 Q1FY24 New Clients Added 15 31 40 41 45 47 44 6 6 © Coforge, 2023 | Confidential Q1FY24 TTM intake
Slide 16: High Degree of Visibility Through Contracted Revenues and Repeat Business
High Degree of Visibility Through Contracted Revenues and Repeat Business ORDER BOOK EXECUTABLE OVER NEXT 12 MONTHS ($MN) $1,200 93% 100% 96% 96% 100% 92% $1,200 91% 89% 90% 89% 89% 90% 90% $1,000 $1,000 80% 80% 70% 70% $800 $800 60% 60% $600 50% $600 50% 40% 40% $869 $897 $400 $745 $400 $720 30% 30
Slide 17: De-Risked Operating Profile with Declining Client Concentration
De-Risked Operating Profile with Declining Client Concentration While Increasing Large Account Relationships Top Clients Revenue Contribution Clients by Size 145 147 45.3% 137 42.4% 39.0% 38.3% 115 37.7% 106 34.4% 34.0% 35.5% 90 101 102 80 100 73 88 32.8% 80 30.4% 66 28.3% 27.9% 24.3% 22.9% 23.2% 25
Slide 18: Best-in-Industry Attrition Levels Testament to Coforge Culture
Best-in-Industry Attrition Levels Testament to Coforge Culture Total Global Headcount LTM Attrition % (Excl. BPS) 24,224 22,991 23,224 1099 22,742 22,505 363 1008 1059 963 291 1035 350 285 317 18.0% 16.4% 15.8% 14.1% 13.3% 22,762 21,494 21,692 21,815 21,153 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q1FY23
Slide 19: Key Tenets of Coforge Growth Strategy
Key Tenets of Coforge Growth Strategy • FY23 total revenue at $ 1002 million, grew 22% YoY in CC terms Robust • Q1FY24 revenue growth of 2.7% QoQ and 18.4% YoY in constant currency (CC) • FY23 Adj. EBITDA margin of 18.3% Profitable • Q1FY24 Adj. EBITDA margin of 16.0% • Strong executable order book
Slide 20: Appendix
Appendix 11 © Coforge, 2023 | Confidential
Slide 21: Consolidated Income Statement – Q1FY24 (USD Mn)
Consolidated Income Statement – Q1FY24 (USD Mn) Particulars Q1FY24 Q4FY23 QoQ% Q1FY23 YoY% Gross Revenues 271.8 264.4 2.8% 238.7 13.9% GM% 30.7% 34.1% -342 Bps 30.4% 30 Bps Selling / General And Administration 39.9 38.4 4.1% 33.2 20.4% SG&A to Revenue % 14.7% 14.5% 18 Bps 13.9% 80 Bps Adj EBITDA 43.
Slide 22: Consolidated Income Statement – Q1FY24 (INR Mn)
Consolidated Income Statement – Q1FY24 (INR Mn) Particulars Q1FY24 Q4FY23 QoQ% Q1FY23 YoY% Gross Revenues 22,210 21,700 2.4% 18,294 21.4% GM% 30.7% 34.1% -342 Bps 30.4% 29 Bps Selling / General And Administration 3,264 3,150 3.6% 2,543 28.3% SG&A to Revenue % 14.7% 14.5% 18 Bps 13.9% 79 Bps Adj EBIT
Slide 23: Other Key Metrics
Other Key Metrics Q1FY24 Q4FY23 Q1FY23 Q1FY24 Q4FY23 Q1FY23 DSO (in Million) Position Hedge 61 61 72 USD 218.34 214.94 151.98 GBP 89.03 83.80 39.79 EUR 8.50 7.56 3.93 Q1FY24 Q4FY23 Q1FY23 Q1FY24 Q4FY23 Q1FY23 Rupee Outstandin Dollar Rate g Hedges Average Period Closing Rate 82.10 82.11 79.03 Rates U
Slide 24: Let's engage!
Let’s engage! 15 © Coforge, 2023 | Confidential