Redington Limited · NSE:REDINGTON
Redington — Q2 FY2023 Earnings Presentation
26 slides from Redington's earnings presentation, Oct 31, 2022
Slide 1: Q2FY23 Earnings Presentation
Q2FY23 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 Half Year Revenue growth at 25%” • Q2FY23 – On a Global basis, Revenue# grew by 25% while EBITDA grew by 23% and PAT grew by 26% • SISA – Revenue# grew by 23%, EBITDA grew by 27% and PAT grew by 22% • ROW – Revenue# grew by 26%, EBITDA grew by 20% and PAT grew by 2
Slide 4: Financial Highlights: SISA Business
Financial Highlights SISA BUSINESS ROCE was strong at 49% and ROE at 26% for H1FY23 H1FY23 Revenue grew by 29%, EBITDA grew by 31% and PAT grew by 30% India Distribution • Strong double digit growth trend continues • Q2FY23: Revenue grew by 23%, EBITDA grew by 27% and PAT grew by 25% • WC days stood
Slide 5: Financial Highlights: ROW Business
Financial Highlights ROW BUSINESS ROCE was strong at 37% and ROE at 22% for H1FY23 H1FY23 Revenue grew by 21%, EBITDA grew by 25% and PAT grew by 29% During the quarter, • Revenue grew by 26%, EBITDA grew by 20% and PAT grew by 29% • WC days stood at 32 days • ROCE was at 30% and ROE at 24% • Arena
Slide 6: Q2FY23 Performance
g Redington Q2FY23 Performance
Slide 7: Q2FY23 Redington Global Performance
Q2FY23 Redington Global Performance REVENUE# EBITDA PAT 25% 23% 26% 1,90,808 5,624 1,53,133 3,870 4,575 3,072 Q2FY22 Q2FY23 Q2FY22 Q2FY23 Q2FY22 Q2FY23 # Revenue growth as per Gross a/c : 26% ₹ in mn
Slide 8: Q2FY23 Performance by Market
Q2FY23 Performance by Market REVENUE# EBITDA PAT 23% 27% 22% 90,937 2,668 74,163 2,104 1,735 SISA 1,418 Q2FY22 Q2FY23 Q2FY22 Q2FY23 Q2FY22 Q2FY23 26% 20% 29% 99,871 ROW 78,970 2,957 2,471 2,135 1,654 Q2FY22 Q2FY23 Q2FY22 Q2FY23 Q2FY22 Q2FY23 # Revenue growth as per Gross a/c – SISA: 25% ; ROW: 28% ₹
Slide 9: Q2FY23 Contribution by Market
Q2FY23 Contribution by Market REVENUE EBITDA PAT 52% 52% 54% 53% 54% 55% 48% 48% 46% 47% 46% 45% Q2FY22 Q2FY23 Q2FY22 Q2FY23 Q2FY22 Q2FY23 SISA ROW SISA ROW SISA ROW
Slide 10: Q2FY23 Revenue Performance by Verticals
Q2FY23 Revenue Performance by Verticals SISA ROW GLOBAL 1% 1% 1% 1% 1% 1% 18% 18% 23% 25% 27% 30% 81% 81% 76% 74% 72% 69% Q2FY22 Q2FY23 Q2FY22 Q2FY23 Q2FY22 Q2FY23 IT Mobility Services IT Mobility Services IT Mobility Services
Slide 11: Q2FY23 Working Capital Days
Q2FY23 Working Capital Days SISA ROW GLOBAL 18 20 20 1 4 1 36 32 28 27 20 21 12 7 3 Q2FY22 Q1FY23 Q2FY23 Q2FY22 Q1FY23 Q2FY23 Q2FY22 Q1FY23 Q2FY23
Slide 12: Q2FY23 Top Vendors
Q2FY23 Top 5 Vendors REVENUE 38% 38% OTHERS SAMSUNG 5% 6% DELL EMC 10% 8% LENOVO 7% 8% HP Inc 13% 13% APPLE 27% 27% Q2FY22 Q2FY23
Slide 13: Q2FY23 Free Cash Flow Statement
Q2FY23 Free Cash Flow Statement Particulars (₹ in mn) Q2FY22 Q4FY22 Q2FY23 Profit Before Taxation 3,908 4,435 4,708 Non-cash items 372 468 532 Finance Cost 217 175 407 Changes in Working Capital 12,563 (3,540) (3,087) Direct Tax Paid (857) (761) (1,217) Net Cash Flow from Operations 16,203 778 1,343
Slide 14: Q2FY23 Performance Factsheet
Q2FY23 Performance Factsheet Global (₹ in mn) Q2FY22 Q2FY23 Working Capital Days Q2FY22 Q2FY23 Consolidated Revenue 1,53,133 1,90,808 Global 7 27 IT 76% 74% SISA 3 21 Mobility 23% 25% ROW 12 32 Services 1% 1% Consolidated EBITDA 4,575 5,624 Consolidated PAT 3,072 3,870 SISA (₹ in mn) Q2FY22 Q2FY23 R
Slide 15: H1FY23 Performance
g Redington H1FY23 Performance
Slide 16: H1FY23 Redington Global Performance
H1FY23 Redington Global Performance REVENUE# EBITDA PAT 25% 28% 29% 3,59,091 10,494 7,028 2,87,873 8,217 5,439 H1FY22 H1FY23 H1FY22 H1FY23 H1FY22 H1FY23 # Revenue growth as per Gross a/c : 27% ₹ in mn
Slide 17: H1FY23 Performance by Market
H1FY23 Performance by Market REVENUE# EBITDA PAT 29% 31% 30% 1,71,460 4,907 3,206 1,33,034 3,741 2,473 SISA H1FY22 H1FY23 H1FY22 H1FY23 H1FY22 H1FY23 21% 25% 29% 1,87,631 1,54,840 ROW 5,587 3,822 4,476 2,966 H1FY22 H1FY23 H1FY22 H1FY23 H1FY22 H1FY23 # Revenue growth as per Gross a/c – SISA: 32% ; RO
Slide 18: H1FY23 Contribution by Market
H1FY23 Contribution by Market REVENUE EBITDA PAT 54% 52% 54% 53% 55% 54% 46% 48% 46% 47% 45% 46% H1FY22 H1FY23 H1FY22 H1FY23 H1FY22 H1FY23 SISA ROW SISA ROW SISA ROW
Slide 19: H1FY23 Revenue Performance by Verticals
H1FY23 Revenue Performance by Verticals SISA ROW GLOBAL 1% 1% 1% 1% 1% 1% 17% 20% 23% 28% 26% 31% 82% 79% 76% 71% 73% 68% H1FY22 H1FY23 H1FY22 H1FY23 H1FY22 H1FY23 IT Mobility Services IT Mobility Services IT Mobility Services
Slide 20: H1FY23 Working Capital Days
H1FY23 Working Capital Days SISA ROW GLOBAL 19 22 21 2 1 1 36 35 28 29 20 22 13 8 3 H1FY22 Q1FY23 H1FY23 H1FY22 Q1FY23 H1FY23 H1FY22 Q1FY23 H1FY23
Slide 21: H1FY23 Top Vendors
H1FY23 Top 5 Vendors REVENUE 38% 36% OTHERS SAMSUNG 5% 6% LENOVO 7% 8% DELL EMC 9% 8% HP Inc 13% 13% APPLE 28% 29% H1FY22 H1FY23
Slide 22: H1FY23 Free Cash Flow Statement
H1FY23 Free Cash Flow Statement Particulars (₹ in mn) H1FY22 FY22 H1FY23 Profit Before Taxation 6,921 16,224 8,845 Non-cash items 883 1,944 1,033 Finance Cost 400 725 710 Changes in Working Capital 6,662 (6,236) (30,301) Direct Tax Paid (1,524) (2,764) (1,655) Net Cash Flow from Operations 13,342 9,
Slide 23: H1FY23 Balance Sheet
H1FY23 Balance Sheet Particulars (₹ in mn) 30-Sep-21 30-Sep-22 Source: Networth 50,614 62,202 Net Debt (37,612) (2,304) Minority Interest 3,774 3,346 Total 16,775 63,245 Application: Fixed Assets 4,752 5,723 Goodwill 183 747 Right to use Assets 1,841 2,186 Net Assets 9,999 54,589 Total 16,775 63,245
Slide 24: H1FY23 Performance Factsheet
H1FY23 Performance Factsheet Global H1FY22 H1FY23 Working Capital Days H1FY22 H1FY23 Consolidated Revenue 2,87,873 3,59,091 Global 8 29 IT 76% 73% SISA 3 22 Mobility 23% 26% ROW 13 35 Services 1% 1% Consolidated EBITDA 8,217 10,494 Consolidated PAT 5,439 7,028 SISA H1FY22 H1FY23 ROW H1FY22 H1FY23 Re
Slide 25: Shareholding Pattern
Shareholding Pattern Others Others 26.3% 25.5% Synnex Synnex Mauritius Mauritius Limited Limited 24.1% 24.1% Mutual FIIs & FPIs Funds Mutual 37.9% 11.6% FIIs & FPIs Funds 38.7% 11.7% Sep-2022 Jun-2022
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’