Redington Limited · NSE:REDINGTON
Redington — Q3 FY2023 Earnings Presentation
25 slides from Redington's earnings presentation, Feb 2, 2023
Slide 1: Q3FY23 Earnings Presentation
Q3FY23 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 Quarter Revenue & EBITDA” • Q3FY23 – On a Global basis, Revenue# grew by 31% while EBITDA grew by 14% and PAT degrew by 2% • SISA – Revenue# grew by 29%, EBITDA grew by 18% and PAT degrew by 1% • ROW – Revenue# grew by 32%, EBITDA grew by 12% and PAT degrew by 3% •
Slide 4: Financial Highlights - SISA Business
Financial Highlights SISA BUSINESS ROCE was strong at 34% and ROE at 24% for 9MFY23 9MFY23 Revenue grew by 29%, EBITDA grew by 26% and PAT grew by 18% India Distribution • Strong double digit Revenue growth trend continues • Q3FY23: Revenue grew by 28%, EBITDA grew by 13% and PAT remained flat • WC
Slide 5: Financial Highlights - ROW Business
Financial Highlights ROW BUSINESS ROCE was strong at 42% and ROE at 23% for 9MFY23 9MFY23 Revenue grew by 25%, EBITDA grew by 19% and PAT grew by 15% During the quarter, • Revenue grew by 32%, EBITDA grew by 12% and PAT degrew by 3% • WC days stood at 27 days • ROCE was at 38% and ROE at 25% • Arena
Slide 6: Q3FY23 Performance
g Redington Q3FY23 Performance
Slide 7: Q3FY23 Redington Global Performance
Q3FY23 Redington Global Performance REVENUE# EBITDA PAT 31% 14% 2% 2,17,147 6,217 5,443 3,881 3,797 1,66,198 Q3FY22 Q3FY23 Q3FY22 Q3FY23 Q3FY22 Q3FY23 # Revenue growth as per Gross a/c : 28% ₹ in mn
Slide 8: Q3FY23 Performance by Market
Q3FY23 Performance by Market REVENUE# EBITDA PAT 29% 18% 1% 98,329 2,538 76,260 2,149 SISA 1,475 1,462 Q3FY22 Q3FY23 Q3FY22 Q3FY23 Q3FY22 Q3FY23 32% 12% 3% 1,18,818 ROW 3,679 89,939 3,294 2,406 2,336 Q3FY22 Q3FY23 Q3FY22 Q3FY23 Q3FY22 Q3FY23 # Revenue growth as per Gross a/c – SISA: 26% ; ROW: 29% ₹
Slide 9: Q3FY23 Contribution by Market
Q3FY23 Contribution by Market REVENUE EBITDA PAT 54% 55% 61% 59% 62% 62% 46% 45% 41% 39% 38% 38% Q3FY22 Q3FY23 Q3FY22 Q3FY23 Q3FY22 Q3FY23 SISA ROW SISA ROW SISA ROW
Slide 10: Q3FY23 Revenue Performance by Verticals
Q3FY23 Revenue Performance by Verticals SISA ROW GLOBAL 1% 1% 1% 1% 1% 1% 26% 27% 30% 30% 28% 29% 73% 72% 69% 69% 71% 70% Q3FY22 Q3FY23 Q3FY22 Q3FY23 Q3FY22 Q3FY23 IT Mobility Services IT Mobility Services IT Mobility Services
Slide 11: Q3FY23 Working Capital Days
Q3FY23 Working Capital Days SISA ROW GLOBAL 27 12 18 14 5 3 35 32 30 27 27 21 15 12 8 Q3FY22 Q2FY23 Q3FY23 Q3FY22 Q2FY23 Q3FY23 Q3FY22 Q2FY23 Q3FY23
Slide 12: Q3FY23 Top Vendors
Q3FY23 Top 5 Vendors REVENUE 33% 40% OTHERS SAMSUNG 5% 6% 5% LENOVO 9% 6% DELL EMC 8% HP Inc 12% 11% APPLE 35% 30% Q3FY22 Q3FY23
Slide 13: Q3FY23 Free Cash Flow Statement
Q3FY23 Free Cash Flow Statement Particulars (₹ in mn) Q3FY22 Q2FY23 Q3FY23 Profit Before Taxation 4,867 4,708 4,942 Non-cash items 594 532 287 Finance Cost 150 407 727 Changes in Working Capital (9,359) (3,087) (15,763) Direct Tax Paid (479) (1,217) (637) Net Cash Flow from Operations (4,226) 1,343
Slide 14: Q3FY23 Performance Factsheet
Q3FY23 Performance Factsheet Global (₹ in mn) Q3FY22 Q3FY23 Working Capital Days Q3FY22 Q3FY23 Consolidated Revenue 1,66,198 2,17,147 Global 12 30 IT 71% 70% SISA 8 35 Mobility 28% 29% ROW 15 27 Services 1% 1% Consolidated EBITDA 5,443 6,217 Consolidated PAT 3,881 3,797 SISA (₹ in mn) Q3FY22 Q3FY23
Slide 15: 9MFY23 Performance
g Redington OMFY23 Performance
Slide 16: 9MFY23 Redington Global Performance
9MFY23 Redington Global Performance REVENUE# EBITDA PAT 27% 22% 16% 5,76,238 16,712 10,825 13,660 9,320 4,54,071 9MFY22 9MFY23 9MFY22 9MFY23 9MFY22 9MFY23 # Revenue growth as per Gross a/c : 27% ₹ in mn
Slide 17: 9MFY23 Performance by Market
9MFY23 Performance by Market REVENUE# EBITDA PAT 29% 26% 18% 2,69,788 7,446 4,668 2,09,293 5,890 3,948 SISA 9MFY22 9MFY23 9MFY22 9MFY23 9MFY22 9MFY23 25% 19% 15% 3,06,449 9,266 6,157 ROW 2,44,778 7,770 5,372 9MFY22 9MFY23 9MFY22 9MFY23 9MFY22 9MFY23 # Revenue growth as per Gross a/c – SISA: 29% ; RO
Slide 18: 9MFY23 Contribution by Market
9MFY23 Contribution by Market REVENUE EBITDA PAT 54% 53% 57% 55% 58% 57% 46% 47% 43% 45% 42% 43% 9MFY22 9MFY23 9MFY22 9MFY23 9MFY22 9MFY23 SISA ROW SISA ROW SISA ROW
Slide 19: 9MFY23 Revenue Performance by Verticals
9MFY23 Revenue Performance by Verticals SISA ROW GLOBAL 1% 1% 1% 1% 1% 1% 20% 23% 25% 27% 29% 31% 79% 76% 74% 72% 70% 68% 9MFY22 9MFY23 9MFY22 9MFY23 9MFY22 9MFY23 IT Mobility Services IT Mobility Services IT Mobility Services
Slide 20: 9MFY23 Working Capital Days
9MFY23 Working Capital Days SISA ROW GLOBAL 31 13 21 17 5 5 39 35 34 30 29 22 17 13 8 9MFY22 H1FY23 9MFY23 9MFY22 H1FY23 9MFY23 9MFY22 H1FY23 9MFY23
Slide 21: 9MFY23 Top Vendors
9MFY23 Top 5 Vendors REVENUE 36% 37% OTHERS SAMSUNG 5% 6% LENOVO 7% 7% DELL EMC 9% 8% HP Inc 13% 13% APPLE 30% 29% 9MFY22 9MFY23
Slide 22: 9MFY23 Free Cash Flow Statement
9MFY23 Free Cash Flow Statement Particulars (₹ in mn) 9MFY22 H1FY23 9MFY23 Profit Before Taxation 11,788 8,845 13,788 Non-cash items 1,476 1,033 1,316 Finance Cost 550 710 1,441 Changes in Working Capital (2,696) (30,301) (46,153) Direct Tax Paid (2,003) (1,655) (2,293) Net Cash Flow from Operations
Slide 23: 9MFY23 Performance Factsheet
9MFY23 Performance Factsheet Global 9MFY22 9MFY23 Working Capital Days 9MFY22 9MFY23 Consolidated Revenue 4,54,071 5,76,238 Global 13 34 IT 74% 72% SISA 8 39 Mobility 25% 27% ROW 17 30 Services 1% 1% Consolidated EBITDA 13,660 16,712 Consolidated PAT 9,320 10,825 SISA 9MFY22 9MFY23 ROW 9MFY22 9MFY23
Slide 24: Shareholding Pattern
Shareholding Pattern Others Others 26.3% 22.5% Synnex Synnex Mauritius Mauritius Limited Limited 24.1% 24.1% Mutual FIIs & FPIs FIIs & FPIs Funds 36.7% Mutual 37.9% 16.7% Funds 11.7% Sep-2022 Dec-2022
Slide 25: 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’