Eclerx Services Limited · NSE:ECLERX
Eclerx Services — Q1 FY2023 Earnings Presentation
12 slides from Eclerx Services's earnings presentation, Aug 9, 2022
Slide 1: Investor Relations: Financial Performance – Q1FY23
Investor Relations Financial Performance – Q1FY23 Aug 9th, 2022
Slide 2: Financial Summary
Financial Summary Metrics FY23 Q1 Q-o-Q Y-o-Y OPG revenue (USD mm) 79.5 3.0% 22.9% Revenue OPG revenue (INR mm) 6,178 4.4% 27.1% Total revenue (INR mm) 6,398 6.4% 29.4% EBITDA (INR mm) 1,870 -2.6% 19.7% Profit EBIT (INR mm)* 1,621 -1.1% 22.4% Net profit (INR mm) 992 -16.5% 8.6% EBITDA (%) 29.2% -2.7
Slide 3: Other Income
Other Income Figures in INR millions. Other Income FY23 Q1 FY22 Q4 FY22 Q3 FY22 Q2 FY22 Q1 Investment Income 26.0 21.0 27.9 34.0 28.8 Revaluation Income* 180.5 51.2 8.2 (24.3) 46.6 Others 12.6 24.7 8.7 7.8 6.1 Total 219.1 96.9 44.8 17.5 81.4 * Gain / Loss regrouped as other income/expenses based on
Slide 4: Hedge Updates
Hedge Updates Current Hedge Status • Total outstanding hedges now $184.2 mm at average INR 79.46/$; 100% forwards Contract Year Currency Amount (mm) Avg. Rate (INR) FY22 Q2 $34.98 76.6 FY22 Q3 $48.80 76.5 Matured Forwards FY22 Q4 $39.38 77.2 Total FY22 USD $152.0 76.7 FY23 Q1 $39.2 77.7 FY23 Q2 $37.
Slide 5: P&L Comparison
P&L Comparison Figures in INR millions. Operating P&L FY23 Q1 OPR (%) FY22 Q4 OPR (%) Operating Revenue $ $79.5 $77.2 Total Revenue* 6,398 6,014 Operating Revenue 6,178 5,917 Cost of Revenues Delivery and Support Employees Cost 3,341 54.1% 2,996 50.6% General and Administrative Expenses Facilities (
Slide 6: QoQ EBIT Bridge
QoQ EBIT Bridge 288.0 57.5 65.1 23.0 345.5 Q4 FY22 Operating Revenue Offshore Onshore Q1 FY23 EBIT G&A S&M Depreciation & Oth Inc. Delivery Cost Delivery Cost EBIT • Operating revenue & Oth Inc – INR 130mm from forex gain, balance due to growth in revenue • Delivery cost has annual increment impact
Slide 7: Balance Sheet & Other Updates
Balance Sheet & Other Updates • Total Cash and Cash Equivalents of INR 7,633 mm for Q1 FY23 vs INR 6,805 mm for Q4 FY22 - Equivalent to INR 230.5 per share Q1 FY23 vs INR 205.6 for Q4 FY22 - Net operating cash flow in Q1 FY23 is INR 1,056.5 mm vs INR 848.7 mm in Q4 FY22 o EBITDA conversion at 56.5%
Slide 8: New Additional (Independent) Directors
New Additional (Independent) Directors Dr. Naresh Chand Gupta M.S and Ph.D. in Computer Science from University of Maryland; B.Tech in Computer Science from IIT (Kanpur) • Founder and CEO of Accuracap Consultancy Services, a technology-oriented public market investment firm. Has extensive experience
Slide 9: Key Business Metrics
Key Business Metrics Metrics FY23 Q1 FY22 Q4 FY22 Q3 FY22 Q2 FY22 Q1 FY21 Q4 FY21 Q3 FY21 Q2 USD 82% 81% 80% 80% 80% 79% 81% 81% EURO 10% 11% 11% 10% 12% 12% 13% 13% Currency Contribution (%) * GBP 3% 3% 4% 5% 4% 4% 4% 5% Others 5% 5% 5% 5% 4% 5% 2% 1% North America 70% 69% 70% 69% 70% 70% 66% 66% G
Slide 10: Revenue Mix Trends ($mm)
Revenue Mix Trends ($mm) $27.5 $28.9 $30.8 $31.6 $6.1 $24.7 $6.2 $5.8 $25.5 $24.5 $6.4 $23.1 $5.8 $21.1 $18.9 19.7% 28.4% 29.4% 30.8% 17.7% FY22 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY23 Q1 Emerging ($ 0.5 mm + ) Emerging (others) Strategic (Top 10 clients) Strategic growth is measured at quarterly YoY level
Slide 11: Human Resources Update
Human Resources Update 16,171 104 14,989 108 915 828 951 Headcount 12,910 102 807 681 675 628 778 658 13,520 12,571 10,744 FY22 Q1 FY22 Q4 FY23 Q1 Offshore Delivery Onshore Delivery Support Services Tech Services BD 42.6% Offshore Voluntary Attrition^ 31.7% 29.0% FY22Q1 FY22Q4 FY23Q1 ^Attrition incl
Slide 12: 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