Eclerx Services Limited · NSE:ECLERX
Eclerx Services — Q1 FY2021 Earnings Presentation
14 slides from Eclerx Services's earnings presentation, Aug 12, 2020
Slide 1: Financial Performance – Q1FY21
Financial Performance – Q1FY21 August 12th, 2020
Slide 2: Financial Summary
Financial Summary Metrics FY21 Q1 Q-o-Q Y-o-Y OPG revenue (USD mm) 44.8 -6.0% -11.9% Revenue OPG revenue (INR mm) 3,366 -4.1% -5.1% Total revenue (INR mm) 3,481 -5.4% -4.1% EBITDA (INR mm) 949 0.4% 27.5% Profit EBIT (INR mm)* 776 2.1% 35.5% Net profit (INR mm) 518 -6.5% 30.0% EBITDA (%) 27.2% 1.6% 6
Slide 3: Other Income: FY21 Q1 vs. FY20 Q4
Other Income: FY21 Q1 vs. FY20 Q4 Figures in INR millions. Other Income FY21 Q1 FY20 Q4 FY20 Q3 FY20 Q2 FY20 Q1 Investment Income 107.9 88.9 84.4 71.8 88.2 Revaluation Income* (6.1) 75.9 22.3 24.6 (13.5) Others 13.6 5.1 8.0 (9.3) 7.8 Total 115.4 169.9 114.7 87.1 82.5 * Gain/Loss regrouped as other i
Slide 4: P&L Comparison: FY21 Q1 vs. FY20 Q4
P&L Comparison: FY21 Q1 vs. FY20 Q4 Figures in INR millions. Operating P&L FY21 Q1 OPR (%) FY20 Q4 OPR (%) Total Revenue 3,481 3,679 Operating Revenue 3,366 3,509 Cost of Revenues Delivery and Support Employees Cost 1,809 53.8% 1,889 53.8% General and Administrative Expenses Facilities (Rent and Ele
Slide 5: Hedge Updates
Hedge Updates Current Hedge Status • Total outstanding hedges now $126.7 mm at average INR 76.2/$; 100% forwards Contract Year Currency Amount (mm) Avg. Rate (INR) FY20 Q3 $29.0 72.5 FY20 Q4 $27.7 73.5 Matured Forwards Total FY20 USD $116.8 71.8 FY21 Q1 $23.7 74.1 FY21 Q2 $27.7 74.5 FY21 Q3 $21.7 74
Slide 6: EBIT Bridging Analysis: Q-o-Q FY21 Q1 vs. FY20 Q4
EBIT Bridging Analysis: Q-o-Q FY21 Q1 vs. FY20 Q4 Figures in INR millions. 143.8 81.9 80.9 1.0 775.6 (198.3) 79.9 Q4 FY20 G&A S&D Core Inv. & other FX Reval. India Onshore Depreciation Q1 FY21 revenue income Change Employee Employee Cost Cost • G&A savings observed due to variable admin expenses (El
Slide 7: Balance Sheet & Other Updates
Balance Sheet & Other Updates • Total Cash and Cash equivalents of INR 8,081 mm for Q1FY’21 vs INR 5,287 mm for Q1FY’20 ̶ Equivalent to INR 223.8 per share Q1FY’21 vs INR 146.5 for Q1FY’20 ̶ Net operating cash flow in Q1FY’21 is INR 569.5 mm vs INR 732.5 mm in Q1FY’20 ̶ Capex during Q1FY’21 is INR 1
Slide 8: Key Business Metrics
Key Business Metrics FY21 FY20 FY20 FY 20 FY 20 FY 19 FY 19 FY 19 FY 19 Metrics Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 USD 85% 82% 80% 81% 80% 80% 82% 82% 82% EURO 9% 12% 12% 11% 10% 10% 9% 10% 10% Currency Contribution (%) * GBP 4% 5% 6% 6% 7% 7% 7% 6% 6% Others 2% 1% 2% 2% 3% 3% 2% 2% 2% North America 71% 68%
Slide 9: Revenue Mix Trends ($mm)
Revenue Mix Trends ($mm) 10% $3.9 $4.4 $3.8 8% $4.4 $14.3 $4.7 $13.4 6% $12.9 $12.0 $4.0 4% $10.8 2% $9.6 -1.0% -1% -3% -4.5% -2.8% -5% -5.6% -7% -7.2% -7.5% -9% FY19 Q4 FY20 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY21 Q1 Emerging (others) Emerging ($ 0.5 mm + ) Strategic (Top 10 %) Strategic growth is measured
Slide 10: Human Resources Update
Human Resources Update Headcount 9,495 97 376 90 8,595 8,550 639 81 85 85 438 71 441 697 639 625 538 557 7,596 6,766 6,819 FY20 Q1 FY20 Q4 FY21 Q1 Offshore Delivery Onshore Delivery Support Services Tech Services R&D BD Offshore Voluntary Attrition 40.8% 31.3% 16.0% FY20Q1 FY20Q4 FY21Q1 Voluntary ww
Slide 11: 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 technology spen
Slide 12: Balance Sheet Abstract
Balance Sheet Abstract Figures in INR millions. Particulars June 30, 2020 March 31, 2020 % Change Shareholder's Funds Capital 361 361 0% Minority Interest 6 6 1% Reserves and Surplus 13,377 12,701 5% Total Shareholder's Funds 13,745 13,068 Application of Funds Fixed Assets 3,652 3,524 4% Right to Us
Slide 13: P&L Comparison – Quarterly View
P&L Comparison – Quarterly View Figures in INR millions. FY21 OPR FY20 OPR FY20 OPR FY20 OPR FY20 OPR Operating P&L Q1 (%) Q4 (%) Q3 (%) Q2 (%) Q1 (%) Total Revenue 3,481 3,679 3,869 3,652 3,630 Operating Revenue 3,366 3,509 3,754 3,565 3,547 Cost of Revenues Delivery and Support Employees Cost 1,80
Slide 14: Financial Summary – Quarterly View
Financial Summary – Quarterly View Metrics FY21 Q1 FY20 Q4 FY20 Q3 FY20 Q2 FY20 Q1 OPG revenue (USD mm) 44.8 47.7 51.8 50.1 50.9 Revenue OPG revenue (INR mm) 3,366 3,509 3,754 3,565 3,547 Total revenue (INR mm) 3,481 3,679 3,869 3,652 3,630 EBITDA (INR mm) 949 945 1,147 867 744 Profit EBIT (INR mm)