Birlasoft Limited · NSE:BSOFT
Birlasoft — Q4 FY2024 Earnings Presentation
19 slides from Birlasoft's earnings presentation, Apr 29, 2024
Slide 1: Exchange filing cover letter for Q4 FY 2023-24 investor update
April 29, 2024 BSE Limited National Stock Exchange of India Ltd., Phiroze Jeejeebhoy Towers, Exchange Plaza, C/1, G Block, Dalal Street, Bandra - Kurla Complex, Bandra (E), Mumbai - 400001. Mumbai – 400051. Scrip ID: BSOFT Symbol: BSOFT Scrip Code: 532400 Series: EQ Kind Attn: The Manager, Kind Attn
Slide 2: Investor Update Q4 & FY 2023-24
Investor Update Q4 & FY 2023-24
Slide 3: FY'24 Revenue at $637.2 Mn, up 9.5% YoY (ex Invacare)
FY’24 Revenue at $637.2 Mn, up 9.5% YoY (ex Invacare) In INR terms FY24 Revenue up 12.7% (ex Invacare) at ₹ 52,781 Mn EBITDA Margin increases from 14.0% to 15.8%, PAT up 88.1% to Rs 6,238 Mn Birlasoft Q4FY24 Revenue up 1.6% Q-on-Q and 10% Y-on-Y to $163.9 Mn EBITDA Margin expands from 16.0% to 16.3%
Slide 4: Other operating highlights, key deal wins and awards
Other operating highlights Key deal wins for the quarter • Growth during Q4FY24 driven by ERP and Infrastructure among • Secured a large renewal from an existing BFSI vertical customer in the service lines and by BFSI, E&U and Manufacturing among verticals payments space in the US geo. o BFSI up 4.4
Slide 5: Awards & Recognitions (contd.)
…Awards & Recognitions (contd. from previous page) • Birlasoft recognized as a “Challenger” in Avasant's Intelligent Automation Services • Birlasoft recognized as a “Challenger” in Avasant's Digital Commerce Services • Birlasoft received the Frost & Sullivan 2023 Global MES in Healthcare and Life Sc
Slide 6: About Birlasoft and The CK Birla Group
About Birlasoft Bold Agile Ambitious Birlasoft combines the power of domain, enterprise, and digital technologies to reimagine business processes for customers and their ecosystem. Its consultative and design thinking approach makes societies more productive by helping customers run businesses. Birl
Slide 7: Fact Sheet Q4 & FY 2023-24
Fact Sheet Q4 & FY 2023-24 FY24 INR Revenue up 10.1% YoY FY24 EBITDA Margin expands to 15.8% $ 240 M TCV Deal wins in Q4FY24 Key Financial Metrics Growth (%) Key Financial Metrics - Q4 FY24 QoQ YoY Constant Currency (CC) Revenue growth during Q4 FY24 1.6% 9.6% Growth (%) Financials $ M Q4 FY23 Q3 FY
Slide 8: Key Operating Metrics: FY24 Financials
Key Operating Metrics Growth (%) Key Financial Metrics - FY24 YoY Constant Currency (CC) Revenue growth during FY24 6.7% Growth (%) Financials $ M FY23 FY24 YoY Revenue $ M 594.9 637.2 7.1% EBITDA Margin % (excl. one-time prov.)* 14.0% 15.8% EBITDA Margin % 10.9% 15.8% EBIT Margin % 9.1% 14.2% Effec
Slide 9: Key Operating Metrics: Geography, Verticals, Service Offerings
Key Operating Metrics Quarter Ended Revenue by Geography Q4 FY23 Q3 FY24 Q4 FY24 Americas 85.3% 85.7% 86.5% Rest of the World 14.7% 14.3% 13.5% Total 100.0% 100.0% 100.0% Quarter Ended Revenue by Industry Verticals Q4 FY23 Q3 FY24 Q4 FY24 Manufacturing 40.1% 41.1% 41.9% BFSI 20.5% 20.6% 21.2% Energy
Slide 10: Key Operating Metrics: Contract Type, Revenue Mix, Currency
Key Operating Metrics Quarter Ended Revenue by Contract Type Q4 FY23 Q3 FY24 Q4 FY24 Time & Material 38.3% 37.3% 38.4% Fixed Price, Fixed Monthly 61.7% 62.7% 61.6% Total 100.0% 100.0% 100.0% Quarter Ended Revenue Mix Q4 FY23 Q3 FY24 Q4 FY24 Onsite 48.6% 45.8% 47.8% Offshore 51.4% 54.2% 52.2% Total 1
Slide 11: Key Operating Metrics: Exchange Rate and Client Data
Key Operating Metrics Quarter Ended Exchange Rate (₹/US $) Q4 FY23 Q3 FY24 Q4 FY24 Period Average 82.26 83.24 83.12 Period End 82.17 83.21 83.40 Quarter Ended Client Data Q4 FY23 Q3 FY24 Q4 FY24 No of Active Clients 288 272 259 Clients added - QoQ (11) (6) (13) No of million $ clients (LTM) US$ 1mn+
Slide 12: Key Operating Metrics: Headcount and Hedge Book
Key Operating Metrics Quarter Ended Headcount Metrics Q4 FY23 Q3 FY24 Q4 FY24 Total Headcount 12,193 12,356 12,595 Technical 11,043 11,169 11,433 Sales & Support 1,150 1,187 1,162 Women Employees 2,852 2,892 2,968 Attrition* (LTM) 22.1% 12.6% 12.4% Utilization 84.8% 87.1% 86.3% * adjusted for < 6 mo
Slide 13: Consolidated Income Statement for the quarter ended March 31, 2024 ($)
Consolidated Income Statement for the quarter ended March 31, 2024 Particulars In $ M Quarter ended 31-Mar-23 31-Dec-23 31-Mar-24 QoQ YoY Audited Unaudited Audited Revenue from operations 149.1 161.3 163.9 1.6% 10.0% Expenses Employee benefits expense 88.7 95.3 92.4 Other expenses 40.1 40.3 44.9 EBI
Slide 14: Consolidated Income Statement for the quarter ended March 31, 2024 (₹)
Consolidated Income Statement for the quarter ended March 31, 2024 Particulars In ₹ M Quarter ended 31-Mar-23 31-Dec-23 31-Mar-24 QoQ YoY Audited Unaudited Audited Revenue from operations 12,264 13,430 13,625 1.5% 11.1% Expenses Employee benefits expense 7,294 7,934 7,679 Other expenses 3,300 3,352
Slide 15: Consolidated Income Statement for the year ended March 31, 2024
Consolidated Income Statement for the year ended March 31, 2024 Particulars In $ M In ₹ M Year ended 31-Mar-23 31-Mar-24 YoY 31-Mar-23 31-Mar-24 YoY Audited Audited Audited Audited Revenue from operations 594.9 637.2 7.1% 47,948 52,781 10.1% Expenses Employee benefits expense 348.9 368.0 5.5% 28,131
Slide 16: Consolidated Balance Sheet (Assets)
Consolidated Balance Sheet $M ₹M Particulars as at 31-Mar-23 31-Dec-23 31-Mar-24 31-Mar-23 31-Dec-23 31-Mar-24 (Audited) (Unaudited) (Audited) (Audited) (Unaudited) (Audited) ASSETS Non-current assets Property, plant and equipment 17.3 13.7 12.6 1,423 1,144 1,047 Right-of-use assets 11.0 8.9 10.5 90
Slide 17: Consolidated Balance Sheet (Equity and Liabilities)
Consolidated Balance Sheet $M ₹M Particulars as at 31-Mar-23 31-Dec-23 31-Mar-24 31-Mar-23 31-Dec-23 31-Mar-24 (Audited) (Unaudited) (Audited) (Audited) (Unaudited) (Audited) EQUITY AND LIABILITIES Equity share capital 6.7 6.6 6.6 550 552 552 Other equity 291.3 335.9 358.4 23,933 27,951 29,889 Liabi
Slide 18: Consolidated Cash Flow Statement for Q4 FY24
Consolidated Cash Flow Statement for Q4 FY24 31-Mar-23 31-Dec-23 31-Mar-24 Particulars ₹M $M ₹M $M ₹M $M Profit before tax 1,397 17.0 2,154 25.9 2,422 29.1 Items to reconcile profit before tax to net cash flows Add: non cash items Depreciation of property, plant and equipment & amortization of 210 2
Slide 19: Q4FY24 Earnings Conference Call on 29th April 2024 at 4.30 pm IST
Q4FY24 Earnings Conference Call on 29th April 2024 at 4.30 pm IST Dial in Information India 16:30 hours IST; Hong Kong / Singapore 19:00 hours; London 12:00 hours; New York 07:00 hours India +91 22 6280 1179 Universal Dial In India +91 22 7115 8840 India National Toll Free India 1 800 120 1221 Argen