Redington Limited · NSE:REDINGTON
Redington — Q4 FY2023 Earnings Presentation
26 slides from Redington's earnings presentation, May 17, 2023
Slide 1: Q4FY23 Earnings Presentation
Q4FY23 Earnings Presentation
Slide 2: Disclaimer
Disclaimer This presentation contains “forward looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Redington Limited’s future business developments and economic performance. While these forward lo
Slide 3: Financial Highlights
Financial Highlights “Highest ever Full Year Revenue, EBITDA & PAT” • Q4FY23 – On a Global basis, Revenue# grew by 26% while EBITDA grew by 15% and PAT degrew by 11% • SISA – Revenue# grew by 19%, EBITDA grew by 16% and PAT degrew by 1% • ROW – Revenue# grew by 33%, EBITDA grew by 14% and PAT degrew
Slide 4: Financial Highlights: SISA Business
Financial Highlights SISA BUSINESS ROCE was strong at 36% and ROE at 23% for FY23 FY23 Revenue grew by 26%, EBITDA grew by 24% and PAT grew by 13% India Distribution • Strong double digit Revenue growth trend continues • Q4FY23: Revenue grew by 22%, EBITDA grew by 25% and PAT grew by 2% • WC days st
Slide 5: Financial Highlights: ROW Business
Financial Highlights ROW BUSINESS ROCE was strong at 38% and ROE at 22% for FY23 FY23 Revenue grew by 27%, EBITDA grew by 18% and PAT grew by 6% During the quarter, • Revenue grew by 33%, EBITDA grew by 14% and PAT degrew by 17% • WC days stood at 33 days • ROCE was at 32% and ROE at 18% • Arena Rev
Slide 6: Q4FY23 Performance
2] Redington Q4FY23 Performance
Slide 7: Q4FY23 Redington Global Performance
Q4FY23 Redington Global Performance REVENUE# EBITDA PAT 26% 15% 11% 2,18,950 5,895 5,132 1,73,244 3,480 3,101 Q4FY22 Q4FY23 Q4FY22 Q4FY23 Q4FY22 Q4FY23 # Revenue growth as per Gross a/c : 27% ₹ in mn
Slide 8: Q4FY23 Performance by Market
Q4FY23 Performance by Market REVENUE# EBITDA PAT 19% 16% 1% 99,809 83,961 2,458 2,124 SISA 1,347 1,337 Q4FY22 Q4FY23 Q4FY22 Q4FY23 Q4FY22 Q4FY23 33% 14% 17% 1,19,141 ROW 3,437 89,283 3,008 2,133 1,765 Q4FY22 Q4FY23 Q4FY22 Q4FY23 Q4FY22 Q4FY23 # Revenue growth as per Gross a/c – SISA: 19% ; ROW: 34%
Slide 9: Q4FY23 Contribution by Market
Q4FY23 Contribution by Market REVENUE EBITDA PAT 52% 54% 59% 58% 61% 57% 48% 46% 42% 43% 41% 39% Q4FY22 Q4FY23 Q4FY22 Q4FY23 Q4FY22 Q4FY23 SISA ROW SISA ROW SISA ROW
Slide 10: Q4FY23 Revenue Performance by Verticals
Q4FY23 Revenue Performance by Verticals SISA ROW GLOBAL 1% 1% 1% 1% 1% 1% 18% 31% 30% 36% 40% 40% 81% 68% 69% 63% 59% 59% Q4FY22 Q4FY23 Q4FY22 Q4FY23 Q4FY22 Q4FY23 IT Mobility Services IT Mobility Services IT Mobility Services
Slide 11: Q4FY23 Working Capital Days
Q4FY23 Working Capital Days SISA ROW GLOBAL 25 15 19 2 6 2 35 33 33 32 30 27 18 13 8 Q4FY22 Q3FY23 Q4FY23 Q4FY22 Q3FY23 Q4FY23 Q4FY22 Q3FY23 Q4FY23
Slide 12: Q4FY23 Free Cash Flow Statement
Q4FY23 Free Cash Flow Statement Particulars (₹ in mn) Q4FY22 Q3FY23 Q4FY23 Profit Before Taxation 4,435 4,942 4,547 Non-cash items 468 287 606 Finance Cost 162 727 705 Changes in Working Capital (3,540) (15,763) (5,372) Direct Tax Paid (761) (637) (1,056) Net Cash Flow from Operations 764 (10,444) (
Slide 13: Q4FY23 Performance Factsheet
Q4FY23 Performance Factsheet Global (₹ in mn) Q4FY22 Q4FY23 Working Capital Days Q4FY22 Q4FY23 Revenue 1,73,244 2,18,950 Global 13 32 IT 69% 63% SISA 8 33 Mobility 30% 36% ROW 18 33 Services 1% 1% EBITDA 5,132 5,895 PAT 3,480 3,101 SISA (₹ in mn) Q4FY22 Q4FY23 ROW (₹ in mn) Q4FY22 Q4FY23 Revenue 83,
Slide 14: Q4FY23 Top Vendors
Q4FY23 Top 5 Vendors REVENUE 36% 39% OTHERS LENOVO 7% 5% SAMSUNG 5% 5% DELL EMC 8% 7% HP Inc 13% 12% APPLE 31% 32% Q4FY22 Q4FY23
Slide 15: FY23 Performance
2] Redington FY23 Performance
Slide 16: FY23 Redington Global Performance
FY23 Redington Global Performance REVENUE# EBITDA PAT 27% 20% 9% 7,95,187 13,926 22,607 12,799 18,792 6,27,316 FY22 FY23 FY22 FY23 FY22 FY23 # Revenue growth as per Gross a/c : 27% ₹ in mn
Slide 17: FY23 Performance by Market
FY23 Performance by Market REVENUE# EBITDA PAT 26% 24% 13% 3,69,597 9,904 6,004 2,93,255 8,014 5,295 SISA FY22 FY23 FY22 FY23 FY22 FY23 27% 18% 6% 4,25,590 7,504 7,922 12,703 ROW 3,34,061 10,778 FY22 FY23 FY22 FY23 FY22 FY23 # Revenue growth as per Gross a/c – SISA: 26% ; ROW: 27% ₹ in mn
Slide 18: FY23 Contribution by Market
FY23 Contribution by Market REVENUE EBITDA PAT 53% 54% 57% 56% 59% 57% 47% 46% 43% 44% 41% 43% FY22 FY23 FY22 FY23 FY22 FY23 SISA ROW SISA ROW SISA ROW
Slide 19: FY23 Revenue Performance by Verticals
FY23 Revenue Performance by Verticals SISA ROW GLOBAL 1% 1% 1% 1% 1% 1% 20% 25% 30% 32% 39% 38% 79% 74% 69% 67% 60% 61% FY22 FY23 FY22 FY23 FY22 FY23 IT Mobility Services IT Mobility Services IT Mobility Services
Slide 20: FY23 Working Capital Days
FY23 Working Capital Days SISA ROW GLOBAL 27 18 22 3 7 2 39 37 36 36 34 30 19 14 9 FY22 9MFY23 FY23 FY22 9MFY23 FY23 FY22 9MFY23 FY23
Slide 21: FY23 Free Cash Flow Statement
FY23 Free Cash Flow Statement Particulars (₹ in mn) FY22 9MFY23 FY23 Profit Before Taxation 16,224 13,788 18,335 Non-cash items 1,944 1,316 1,921 Finance Cost 712 1,441 2,146 Changes in Working Capital (6,236) (46,153) (51,525) Direct Tax Paid (2,764) (2,293) (3,349) Net Cash Flow from Operations 9,
Slide 22: FY23 Balance Sheet
FY23 Balance Sheet Particulars (₹ in mn) 31-Mar-22 31-Mar-23 Source: Networth 57,847 69,274 Net Debt (30,265) 11,767 Minority Interest 3,228 3,658 Total 30,809 84,699 Application: Fixed Assets 5,175 6,003 Goodwill 617 850 Right to use Assets 2,063 2,043 Net Assets 22,954 75,804 Total 30,809 84,699
Slide 23: FY23 Performance Factsheet
FY23 Performance Factsheet Global (₹ in mn) FY22 FY23 Working Capital Days FY22 FY23 Revenue 6,27,316 7,95,187 Global 14 36 IT 69% 67% SISA 9 36 Mobility 30% 32% ROW 19 37 Services 1% 1% Consolidated EBITDA 18,792 22,607 Consolidated PAT 12,799 13,926 SISA (₹ in mn) FY22 FY23 ROW (₹ in mn) FY22 FY23
Slide 24: FY23 Top Vendors
FY23 Top 5 Vendors REVENUE 36% 37% OTHERS SAMSUNG 5% 6% LENOVO 7% 7% DELL EMC 9% 8% HP Inc 13% 12% APPLE 30% 30% FY22 FY23
Slide 25: Shareholding Pattern
Shareholding Pattern Others Others 23.6% Synnex 23.9% Synnex Mauritius Technology Limited International 24.1% Corporation Insurance 24.1% Companies Insurance 3.8% Companies 3.7% FPIs Mutual Funds FPIs (Corporates) 11.8% Mutual Funds (Corporates) 36.7% 11.9% 36.4% Dec-2022 Mar-2023
Slide 26: Investor Contacts
Investor Contacts M. Muthukumarasamy Compliance Officer Registered office: Block 3, Plathin, Redington Tower, Inner Ring Road, Saraswathy Nagar West, 4th Street, Puzhuthivakkam, Chennai - 600 091 Connecting The Dots https://www.redingtongroup.com Transformation from ‘Product’ to ‘Utility of Product’