Eclerx Services Limited · NSE:ECLERX
Eclerx Services — Q4 FY24 Earnings Presentation
13 slides from Eclerx Services's earnings presentation, May 16, 2024
Slide 1: Financial Performance – Q4 FY24
M AY 2 0 2 4 INVESTOR RELATIONS FINANCIAL PERFORMANCE – Q4 FY24 MAY 16, 2024
Slide 2: Financial Summary
Financial Summary Metrics FY24 Q4 Q-o-Q FY24 Y-o-Y OPG revenue (USD mm) 91.9 1.5% 353.9 6.4% Revenue OPG revenue (INR mm) 7,665 1.8% 29,255 10.5% Total revenue (INR mm) 7,896 2.1% 29,910 10.2% EBITDA (INR mm) 2,186 -4.1% 8,404 3.8% Profit EBIT (INR mm)* 1,850 -4.9% 7,146 2.7% Net profit (INR mm) 1,3
Slide 3: Other Income
Other Income Figures in INR millions. Other Income FY24 Q4 FY24 Q3 FY24 Q2 FY24 Q1 FY23 Q4 Investment Income 133.8 108.5 76.7 52.3 68.6 Revaluation Income* -7.8 -17.0 46.0 -0.0 -42.2 Others 104.3 116.4 18.8 22.7 26.1 Total 230.3 207.8 141.5 75.0 52.5 * Gain / Loss regrouped as other income/expenses
Slide 4: BPaaS, A&A and ACV
BPaaS, A&A and ACV Amounts in $ mm BPaaS A&A 86.2 83.1 72.6 70.9 65.3 60.4 FY22 FY23 FY24 FY22 FY23 FY24 ACV of new deals (excludes CLX) 102.2 MM 35.8 82.5 MM 91.5 MM 28.7 24.4 24.9 22.6 23.0 21.5 19.4 19.7 18.3 18.7 19.2 FY22 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY23 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY24 Q1 FY24 Q
Slide 5: Hedge Updates
Hedge Updates Current Hedge Status • Total outstanding hedges now $223.8 mm at average INR 84.88/$; 100% forwards Contract Year Currency Amount (mm) Avg. Rate (INR) Total FY23 USD $159.0 78.55 FY24 Q1 $41.7 80.83 FY24 Q2 $41.7 81.82 Matured Forwards FY24 Q3 $45.0 82.96 FY24 Q4 $45.0 83.65 Total FY24
Slide 6: P&L Comparison
P&L Comparison Figures in INR millions. Operating P&L FY24 Q4 OPR (%) FY24 Q3 OPR (%) Operating Revenue $ 91.9 90.5 Total Revenue* 7,896 7,735 Operating Revenue 7,665 7,528 Cost of Revenues Delivery and Support Employees Cost 3,949 51.5% 3,746 49.8% General and Administrative Expenses Facilities (Re
Slide 7: YoY EBITDA Bridge
YoY EBITDA Bridge Figures in INR millions 2,773 676 505 379 905 8,097 8,404 1,181 FY23 Operating Offshore Onshore FY24 EBITDA Revenue & Oth Delivery Cost Delivery Cost G&A S&D EBITDA Inc. • Operating revenue up by 10.5% YoY • G&A: Increase in transportation, server rentals, rent and L&P exp. • S&D:
Slide 8: Balance Sheet & Other Updates
Balance Sheet & Other Updates • Total Cash and Cash Equivalents of INR 10,839 mm for FY24 vs INR 6,563 mm for FY23 - Equivalent to INR 224.7 per share FY24 vs INR 136.6 for FY23 - Net operating cash flow in FY24 is INR 5,258.9 mm vs INR 5,050.0 mm in FY23 o EBITDA conversion at 62.6 % for FY24 vs 62
Slide 9: Key Business Metrics
Key Business Metrics Metrics FY24 Q4 FY24 Q3 FY24 Q2 FY24 Q1 FY23 Q4 FY23 Q3 FY23 Q2 FY23 Q1 USD 86% 84% 83% 82% 83% 82% 83% 82% EURO 9% 9% 10% 10% 10% 10% 9% 10% Currency Contribution (%) * GBP 3% 3% 3% 3% 3% 3% 3% 3% Others 2% 4% 4% 5% 4% 5% 5% 5% North America 74% 74% 73% 72% 71% 71% 72% 70% Geog
Slide 10: Revenue Mix Trends ($mm)
Revenue Mix Trends ($mm) 20.0% 7.6% $7.3 5.6% $7.4 $7.8 6.4% 3.0%21.6% $7.1 23.6% $7.7 13.2% $27.0 13.5% 19.9% 28.3% 27.2% 35.1% $29.4 (3.7%) $28.1 $27.9 $27.0 27.0% 10.6% 4.6% 14.6% 5.9% 56.1% $57.6 $50.4 $51.8 $53.7 14.1% $49.2 7.4% 8.6% 3.1% 2.6% 20.2% 12.5% 19.7% 17.7% 30.8% FY23 Q4 FY24 Q1 FY24
Slide 11: Human Resources Update
Human Resources Update 16,127 17,076 17,354 124 123 Headcount 115 1,002 1,049 848 862 1,135 611 630 948 599 14,491 14,690 13,330 FY23 Q4 FY24 Q3 FY24 Q4 Offshore Delivery Onshore Delivery Support Services Tech Services BD 29.7% Offshore Voluntary Attrition 22.7% 16.6% FY23 Q4 FY24 Q3 FY24 Q4 Attriti
Slide 12: Balance Sheet Abstract
Balance Sheet Abstract Figures in INR millions. Particulars March 31, 2024 March 31, 2023 % Change Shareholder's Funds Capital 482 480 0% Minority Interest 20 17 17% Reserves and Surplus 21,993 16,668 32% Total Shareholder's Funds 22,495 17,166 Application of Funds Fixed Assets 6,090 6,404 (5%) Righ
Slide 13: 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