Eclerx Services Limited · NSE:ECLERX
Eclerx Services — Q4 FY2022 Earnings Presentation
15 slides from Eclerx Services's earnings presentation, May 24, 2022
Slide 1: Financial Performance – Q4FY22
Investor Relations Financial Performance – Q4FY22 May 24th, 2022
Slide 2: Financial Summary
Financial Summary Metrics FY22 Q4 Q-o-Q FY22 Y-o-Y OPG revenue (USD mm) 77.2 5.2% 284.6 35.2% Revenue OPG revenue (INR mm) 5,917 5.8% 21,603 38.1% Total revenue (INR mm) 6,014 6.7% 21,844 38.0% EBITDA (INR mm) 1,919 5.3% 6,970 44.5% Profit EBIT (INR mm)* 1,640 5.2% 5,938 47.9% Net profit (INR mm) 1,
Slide 3: Other Income
Other Income Figures in INR millions. Other Income FY22 Q4 FY22 Q3 FY22 Q2 FY22 Q1 FY21 Q4 Investment Income 21.0 27.9 34.0 28.8 24.6 Revaluation Income* 51.2 8.2 (24.3) 46.6 4.9 Others 24.7 8.7 7.8 6.1 7.9 Total 96.9 44.8 17.5 81.4 37.5 * Gain / Loss regrouped as other income/expenses based on prof
Slide 4: Our Marquee Clients
Our Marquee Clients Our Clients Are We Have Deep, Leaders In Their Industries Tenured Relationships • 75% of our revenue derives from Fortune 500 companies • Founded on delivery excellence and long term partnership • 57 clients are $10bn+ revenue companies • 80% revenues from firms which are clients
Slide 5: Business Process as a Service (BPaaS)
Business Process as a Service (BPaaS) Services delivered under “outcome-based” contracts • Commercials structured around milestones, fixed price projects, or fixed + unit prices RegTech Insight Awards • Differentiators are multi-client tenancy; deep domain; IP (techniques, know-how) and software too
Slide 6: Analytics & Automation
Analytics & Automation Analytics primary consumers are CMO and COO client organizations The AIM Award • Services comprise marketing and customer analytics; business intelligence; advanced modeling Top 50 Firms in India for Data • Techniques comprise data design, lineage and engineering; model buildi
Slide 7: P&L Comparison
P&L Comparison Figures in INR millions. Operating P&L FY22 Q4 OPR (%) FY22 Q3 OPR (%) Operating Revenue $ $77.2 $73.4 Total Revenue* 6,014 5,636 Operating Revenue 5,917 5,592 Cost of Revenues Delivery and Support Employees Cost 2,996 50.6% 2,738 49.0% General and Administrative Expenses Facilities (
Slide 8: Hedge Updates
Hedge Updates Current Hedge Status • Total outstanding hedges now $173.3 mm at average INR 78.72/$; 100% forwards Contract Year Currency Amount (mm) Avg. Rate (INR) FY22 Q1 $28.80 76.7 FY22 Q2 $34.98 76.9 Matured Forwards FY22 Q3 $48.82 77.2 FY22 Q4 $39.40 78.5 Total FY22 USD 152.00 77.3 FY23 Q1 $39
Slide 9: YoY EBITDA Bridge
YoY EBITDA Bridge Figures in INR millions 1,302 1,673 406 491 2,975 FY21 Operating Revenue Offshore Onshore G&A S&M FY22 EBITDA EBITDA & Oth Inc. Delivery Cost Delivery Cost • Delivery cost has increased in line with revenue growth • Increase in hiring costs driving G&A higher • S&M - Higher variabl
Slide 10: Balance Sheet & Other Updates
Balance Sheet & Other Updates • Total Cash and Cash Equivalents of INR 6,805 mm for FY22 vs INR 6,572 mm for FY21 - Equivalent to INR 205.6 per share FY22 vs INR 193.2 for FY21 - Net operating cash flow in FY22 is INR 4,481.7 mm vs INR 3,645.7 mm in FY21 o EBITDA conversion at 64.3% for FY22 vs 75.6
Slide 11: Key Business Metrics
Key Business Metrics Metrics FY22 Q4 FY22 Q3 FY22 Q2 FY22 Q1 FY21 Q4 FY21 Q3 FY21 Q2 FY21 Q1 USD 81% 80% 80% 80% 79% 81% 81% 85% EURO 11% 11% 10% 12% 12% 13% 13% 9% Currency Contribution (%) * GBP 3% 4% 5% 4% 4% 4% 5% 4% Others 5% 5% 5% 4% 5% 2% 1% 2% North America 69% 70% 69% 70% 70% 66% 66% 71% Ge
Slide 12: Revenue Mix Trends ($mm)
Revenue Mix Trends ($mm) $27.5 $3.8 $28.9 $30.8 $24.4 $24.7 $6.2 $5.8 $24.5 $6.4 $23.1 $5.1 $5.8 $21.1 $19.3 $18.9 29.4% 30.8% 22.8% 28.4% 17.7% FY21 Q4 FY22 Q1 FY22 Q2 FY22 Q3 FY22 Q4 Emerging ($ 0.5 mm + ) Emerging (others) Strategic (Top 10 clients) Strategic growth is measured at quarterly YoY l
Slide 13: Human Resources Update
Human Resources Update 14,910 108 14,041 749 103 716 807 11,924 792 675 Headcount 93 665 501 792 623 12,571 11,765 9,915 FY21 Q4 FY22 Q3 FY22 Q4 Offshore Delivery Onshore Delivery Support Services Tech Services BD Offshore 42.6% Voluntary 37.4% 34.8% Attrition^ FY21Q4 FY22Q3 FY22Q4 ^Attrition includ
Slide 14: Balance Sheet Abstract
Balance Sheet Abstract Figures in INR millions. Particulars March 31, 2022 March 31, 2021 % Change Shareholder's Funds Capital 331 340 (3%) Minority Interest 12 9 37% Reserves and Surplus 15,345 14,668 5% Total Shareholder's Funds 15,688 15,017 4% Application of Funds Fixed Assets 5,953 5,958 0% Rig
Slide 15: Thank You
Thank You This presentation may contain forward-looking statements, which involves a various risks and uncertainties that could cause our actual results to differ materially from those in such forward-looking statements. The conditions caused by the COVID-19 pandemic could decrease customer’s techno