Emudhra Limited · NSE:EMUDHRA
Emudhra — Q4 FY2023 Earnings Presentation
39 slides from Emudhra's earnings presentation, May 2, 2023
Slide 1: Stock exchange cover letter for earnings presentation
EL/SEC/2023‐24/ 17 May 02, 2023 Corporate Relationship Department The Manager, Listing Department BSE Limited National Stock Exchange of India Limited 1st Floor, New Trading Ring Rotunda "Exchange Plaza', C‐1, Block G Building, P J Towers, Dalal Street, Fort, Bandra‐Kurla Complex, Bandra (E), Mumbai
Slide 2: Q4 and FY2023 Earnings Presentation
Q4 and FY2023 Earnings Presentation Enabling Enterprise Transition to Zero Trust May 2023 www.eMudhra.com
Slide 3: Table of Contents
Table of Contents 1 Q4 FY2023 & FY2023 Financial Performance 2 Understanding our business, products and market opportunity 3 Strategies for future growth 4 Annexures
Slide 4: Q4 FY2023 & FY2023 Financial Performance
1 Q4 FY2023 & FY2023 Financial Performance
Slide 5: One Stop Shop Solution Provider in securing Enterprise Transition to Zero Trust
“One Stop Shop” Solution Provider in securing Enterprise Transition to Zero Trust Strong solution led growth across cyber security and eSignature workflow solutions with significant penetration into international markets Marquee Customers Recognized by Global IT Research 19 out of top 20 in ET 500,
Slide 6: What is Zero Trust?
What is Zero Trust? Zero Trust is the new security paradigm “Never Trust, Always Verify” Digital Trust and traceability is becoming a critical factor in electronic document exchange – only technology that can replace wet signatures, provide legal non-repudiation, identity traceability, and non-tampe
Slide 7: Where does eMudhra fit in?
Where does eMudhra fit in? Cryptographic identities are important in Zero Trust. eMudhra is a one stop solution provider with proprietary IP (B2B) for Zero Trust and has a Certifying Authority business to issue Digital Signature Certificates (B2C) Building Zero Trust with Digital Signature Certifica
Slide 8: Global Recognition, Strong Partnerships & driving Thought Leadership
Global Recognition, Strong Partnerships & driving Thought Leadership Global Accreditations and Recognitions Technology Partnerships Recognised in Gartner eSignature Guide as • 1st in the identity and Digital a “Global Full Service Enterprise” solution Trust Category in India vendor Insurtech & Peopl
Slide 9: FY2023 Performance Highlights
FY2023 Performance Highlights Strong growth led by Enterprise Solutions and growth in international markets Total Income Revenue growth driven by Enterprise Solutions primarily due to incremental cross sales, international market Rs. 2,541 Mn expansion and new customer acquisition + 38.3% YoY EBITDA
Slide 10: Q4 FY2023 Performance Highlights
Q4 FY2023 Performance Highlights Strong growth led by Enterprise Solutions; change in model for Trust Services resulting in diversification and better quality of revenue for trust services Total Income Rs. 790 Mn Revenue growth driven by Enterprise Solutions in overseas markets + 73.9% YoY EBITDA EB
Slide 11: Financial Performance
Financial Performance eMudhra track record of delivering consistent growth driven by growth in enterprise solutions and international markets (Rs. Mn) Revenue From Operations 1,165 1,316 1,826 2,488 FY20 FY21 FY22 FY23 EBITDA Profit after Tax 36.0% 36.5% 30.8% 24.1% 27.6% 22.4% 19.1% 15.8% 323 408 6
Slide 12: Key Business Indicators
Key Business Indicators Revenue has been shifting more towards enterprise solutions and overseas markets with recurring revenues of 65% in the current year (Rs. Mn) Revenue Mix (Solutions vs Trust) Revenue Mix - Geography 891 850 349 846 146 255 563 672 1637 1,477 1,596 981 1,019 1,061 601 643 FY20
Slide 13: Enterprise Solutions – Operational Performance
Enterprise Solutions – Operational Performance Enterprise Solutions saw strong growth in international markets and significant repeat business from existing customers Revenue Breakup by Sector Revenue Breakup (Partner/Direct) Revenue Break Up by Product 30% 25% 38% 48% 62% 75% 21% Government BFSI Pr
Slide 14: Trust Services – Operational Performance
Trust Services – Operational Performance Strong focus on “brand” positioning, retail customer acquisition, broad-basing of partner network and issuance of eSign/SSL certificates to drive recurring revenue growth # of Users (Retail) Revenue Breakup by Segment (in ‘000) 249.38 • While the Channel segm
Slide 15: Strong Return Ratios
Strong Return Ratios Demonstrated efficient use of capital with a focus on RoE * Return on Equity % Return on Capital Employed % 34.3% 30.4% 31.0% 24.0% 28.0% 28.1% 21.8% 22.4% FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 Trade Receivables - Collection days 95 80 65 36 FY20 FY21 FY22 FY23 RoE and RoCE fi
Slide 16: Consolidated Statement of Profit and loss
Consolidated Statement of Profit and loss Y-o-Y CAGR (FY20-23) FY2020 FY2021 FY2022 FY2023 (Rs. Million) Growth(%) Growth(%) Revenue from Operations 1,165 1,316 1,826 2,488 36.2% 28.8% Other Income 3 9 11 53 - Total Income 1,168 1,325 1,837 2,541 38.3% 29.6% Operating Expenses 131 129 120 301 Purcha
Slide 17: Consolidated Balance Sheet
Consolidated Balance Sheet FY2023 FY2022 (Rs. Million) Tangible assets 915 659 Intangible assets 582 382 Right to use of assets 85 105 Assets under development 472 429 Inventories 10 21 Trade receivables 672 442 Other investments - - Liquid investments 209 - Cash and cash equivalents 984 133 Other a
Slide 18: Consolidated Statement of cash flow
Consolidated Statement of cash flow FY2023 FY2022 (Rs. Million) Profit before tax 734 505 Adjustments to profits before tax 176 73 Working capital adjustments (424) (316) Cash flow from operations 486 261 Income taxes paid (151) (45) Net Cash flow from operating Activities (A) 336 216 Investment int
Slide 19: Key Project Wins
Key Project Wins Implemented emAS Identity and PKI solutions across Defense forces in Enterprise wide paperless Access Management for Defense multiple countries to enhance cyber transformation of large Banks using Forces security posture eSignatures/eStamping and workflows Solution deployment for ro
Slide 20: Awards and Accolades
Awards and Accolades eMudhra gets mentioned twice in Gartner® Market eMudhra Ranked No.1 under Identity and Guide for Electronic Signature for its product Digital Trust Category in India in 2022 emSigner as a Global, Full Service, Enterprise Workflow vendor OCT 2022 2020-2022 4.4 rating on Gartner P
Slide 21: Understanding our business, products and market opportunity
2 Understanding our business, products and market opportunity
Slide 22: Company Evolution
Company Evolution Increase in Digital Global CA Operations & Launched emSigner Launch of emDiscovery Signature Adoption launch of PKI solution Banking Won first order for Digital Signatures adopted Launched emCA – emSigner Banking caters emDiscovery for a large and implemented across Certificate Lif
Slide 23: Business Lines: Enterprise Solutions and Trust Services
Business Lines: Enterprise Solutions and Trust Services eMudhra is a combination of cyber security and paperless transformation solutions built on a foundation of digital trust using Public Key Infrastructure technology Enterprise Trust Solutions Services Constantly invested into Paperless workflow
Slide 24: Enterprise Solutions – Product Portfolio
Enterprise Solutions – Product Portfolio Public Key Infrastructure is an important foundation in cyber security for Data Privacy, Post Quantum Cryptography and Web 3.0 Buyer is CISO/IT teams Buyer is a Business User 1 2 3 4 PKI Secure Online Access CLM eSignature Workflow (emCA) (emAS) (emDiscovery)
Slide 25: Enterprise Solutions
Enterprise Solutions Use Case Differentiators Customers and Competition ▪ Large Electronic Appliance Retailer in US emSigner ▪ eGovernment – Citizen services ▪ Gartner recognized as a full service, ▪ Largest Banks in India/MEA/APAC ▪ Banking – customer onboarding, lending, global, enterprise platfor
Slide 26: Enterprise Solutions
Enterprise Solutions Market Opportunity * Focus Markets Roadmap ▪ Continue to deepen penetration in India with emSigner eSign/eStamping use cases ▪ Feature enhancements to verticalize into specific industries ▪ Expand market base in Middle East including such as Banking, Pharma eSignature workflow U
Slide 27: Enterprise Solutions – emDiscovery Certificate Lifecycle Management
Enterprise Solutions – emDiscovery Certificate Lifecycle Management eMudhra launched a new product emDiscovery in FY 22-23 to manage the lifecycle of SSL/TLS certificates, keys used for securing enterprise IT infrastructure and for protecting personal data Enterprise IT environments are complex and
Slide 28: Enterprise Solutions – emDiscovery Certificate Lifecycle Management
Enterprise Solutions – emDiscovery Certificate Lifecycle Management emDiscovery, emSign and emCA offer comprehensive CLM capabilities for Enterprises
Slide 29: Trust Services – Positioning as a Branded player
Trust Services – Positioning as a “Branded” player Segments Use Cases Comments Differentiators Online Retail (D2C) ▪ Used for eGovernment ▪ Only CA to have strong inhouse technology filings with GST, Income ▪ eMudhra enjoys positioning as a branded player for partner management, retail portal End cu
Slide 30: Experienced Senior Management – Technology and Corporate Functions
Experienced Senior Management – Technology and Corporate Functions Kaushik Srinivasan, CFA Janarthanan S (SVP – Product Development) (SVP & Head - Customer Success) • Overall 18+ yrs experience • Overall 15+ years of experience • Prior experience with Trafelet Delta Funds and with • Prior experience
Slide 31: Experienced Senior Management – Business Development
Experienced Senior Management – Business Development Arvind Srinivasan Scott Rea (SVP - International Sales and Strategy ) (SVP & Global Strategic Advisor) • Overall 30+ years of experience • Associated with eMudhra since 2019 • Prior leadership experience with Digicert, Identrust • Prior experience
Slide 32: Board of Directors
Board of Directors Mr. Venkatraman Srinivasan Ms. Chandra Iyer (Founder & Chairman) (Independent Director) • 30+ years of experience in IT Industry • Member of Board Lords Freight (India) Private Limited, • CA (Ranker), CWA, CS, Bachelors from University of Madras Mahindra Retail Limited and Mumbai
Slide 33: Strategies for future growth
3 Strategies for future growth
Slide 34: eMudhra Positioning
Zero Trust/Paperless Transformation push by many countries Push for strong cyber security as a result of data going digital, focus on ESG providing opportunity for eMudhra’s solutions • Products across Identity, Authentication and Signing with strong capability • 1 Platform Gartner recognized as a f
Slide 35: Strategies for Future Growth
Strategies for Future Growth eMudhra has a history of developing high-end cybersecurity and Strong focus on IP paperless transformation products catering to global markets and will continue to invest into R&D on allied areas such as Certificate Discovery, Development/Services IoT security and Remote
Slide 36: Annexures
4 Annexures
Slide 37: A quick video overview of how our products work
A quick video overview of how our products work
Slide 38: Disclaimer and Contact Information
Disclaimer and Contact Information Disclaimer This presentation contains statements that are “forward looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to “eMudhra” future business developments and
Slide 39: eMudhra enables enterprises and consumers to engage, exchange information and transact securely
eMudhra enables enterprises and consumers to engage, exchange information and transact securely, efficiently and Amsterdam with enhanced customer experience. Bengaluru Bogota Dubai Corporate Office: Jakarta ClN - U72900KA2008P1C050368 New Jersey No.56, Sai Arcade, 3rd Floor, Outer Ring Road, Devarab