Eclerx Services Limited · NSE:ECLERX
Eclerx Services — Q2 FY2021 Earnings Presentation
12 slides from Eclerx Services's earnings presentation, Nov 5, 2020
Slide 1: Financial Performance – Q2FY21
Financial Performance – Q2FY21 November 5th, 2020
Slide 2: Financial Summary
Financial Summary Metrics FY21 Q2 Q-o-Q FY21 H1 Y-o-Y OPG revenue (USD mm) 48.5 8.1% 93.3 -7.6% Revenue OPG revenue (INR mm) 3,608 7.2% 6,973 -1.9% Total revenue (INR mm) 3,604 3.5% 7,085 -2.7% EBITDA (INR mm) 1,077 13.6% 2,026 25.8% Profit EBIT (INR mm)* 881 13.6% 1,657 31.2% Net profit (INR mm) 61
Slide 3: Other Income
Other Income Figures in INR millions. Other Income FY21 Q2 FY21 Q1 FY20 Q4 FY20 Q3 FY20 Q2 Investment Income 59.6 107.9 88.9 84.4 71.8 Revaluation Income* (64.5) (6.1) 75.9 22.3 24.6 Others 1.2 13.6 5.1 8.0 (9.3) Total (3.7) 115.4 169.9 114.7 87.1 * Gain / Loss regrouped as other income/expenses bas
Slide 4: P&L Comparison
P&L Comparison Figures in INR millions. Operating P&L FY21 Q2 OPR (%) FY21 Q1 OPR (%) Total Revenue 3,604 3,481 Operating Revenue 3,608 3,366 Cost of Revenues Delivery and Support Employees Cost 1,793 49.7% 1,809 53.8% General and Administrative Expenses Facilities (Rent and Electricity) 72 2.0% 70
Slide 5: Hedge Updates
Hedge Updates Current Hedge Status • Total outstanding hedges now $124.7 mm at average INR 76.9/$; 100% forwards Contract Year Currency Amount (mm) Avg. Rate (INR) Total FY20 USD $116.8 71.8 Matured Forwards FY21 Q1 $23.7 74.1 FY21 Q2 $27.7 74.5 FY21 Q3 $21.7 74.7 FY21 Q4 $25.6 75.3 Total FY21 USD $
Slide 6: QoQ EBIT Bridge
QoQ EBIT Bridge 242.3 60.7 Figures in INR millions 58.4 34.3 50.4 23.2 47.7 16.0 123.2 Q1 FY21 G&A S&D Core Inv. & Other FX Reval. India Onshore Depreciation Q2 FY21 Revenue Income Change Employee Employee Cost Cost • G&A reduced due to lower BCP opex in Q2FY21 • S&D cost higher due to change in sen
Slide 7: Balance Sheet & Other Updates
Balance Sheet & Other Updates • Total Cash and Cash Equivalents of INR 7,582 mm for Q2FY’21 vs INR 6,271 mm for Q2FY’20 - Equivalent to INR 223.0 per share Q2FY’21 vs INR 173.8 for Q2FY’20 - Net operating cash flow in Q2FY’21 is INR 967.1 mm vs INR 1,025.8 mm in Q2FY’20 o EBITDA conversion at 89.8%
Slide 8: Key Business Metrics
Key Business Metrics Metrics FY21 Q2 FY21 Q1 FY20 Q4 FY20 Q3 FY 20 Q2 FY 20 Q1 USD 81% 85% 82% 80% 81% 80% EURO 13% 9% 12% 12% 11% 10% Currency Contribution (%) * GBP 5% 4% 5% 6% 6% 7% Others 1% 2% 1% 2% 2% 3% North America 66% 71% 68% 66% 67% 67% Geographic Concentration * Europe 28% 23% 26% 28% 27
Slide 9: Revenue Mix Trends ($mm)
Revenue Mix Trends ($mm) $16.3 $18.1 $16.2 10% $15.5 $3.8 $3.8 8% $4.4 $13.6 $4.3 6% $4.7 4% $4.0 2% -1% $14.3 -1.4% $12.9 -3% $10.8 $9.6 $11.9 -5% -5.6% -4.5% -7.2% -7% -7.5% -9% FY20 Q2 FY20 Q3 FY20 Q4 FY21 Q1 FY21 Q2 Emerging (others) Emerging ($ 0.5 mm + ) Strategic (Top 10 %) Strategic growth i
Slide 10: Human Resources Update
Human Resources Update Headcount 9,123 89 90 8,595 8,502 422 85 81 71 629 438 458 72 572 625 619 557 508 7,321 6,819 6,764 FY20 Q2 FY21 Q1 FY21 Q2 Offshore Delivery Onshore Delivery Support Services Tech Services R&D BD Offshore Voluntary Attrition 46.0% 19.1% 16.0% FY20Q2 FY21Q1 FY21Q2 www.ecl erx
Slide 11: 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
Slide 12: Balance Sheet Abstract
Balance Sheet Abstract Figures in INR millions. Particulars September 30, 2020 March 31, 2020 % Change Shareholder's Funds Capital 340 361 (6%) Minority Interest 11 6 77% Reserves and Surplus 12,839 12,701 1% Total Shareholder's Funds 13,190 13,068 Application of Funds Fixed Assets 3,629 3,524 3% Ri