Eclerx Services Limited · NSE:ECLERX
Eclerx Services — Q2 FY25 Earnings Presentation
13 slides from Eclerx Services's earnings presentation, Nov 5, 2024
Slide 1: Financial Performance – Q2 FY25
NOV 2024 INVESTOR RELATIONS FINANCIAL PERFORMANCE – Q2 FY25 NOV 5, 2024
Slide 2: Financial Summary
Financial Summary Metrics FY25 Q2 Q-o-Q FY25H1 Y-o-Y OPG revenue (USD mm) 98.8 6.0% 192.1 12.0% Revenue OPG revenue (INR mm) 8,318 6.4% 16,138 14.8% Total revenue (INR mm) 8,447 5.2% 16,478 15.4% EBITDA (INR mm) 2,288 22.2% 4,161 5.6% Profit EBIT (INR mm)* 1,960 25.9% 3,516 4.9% Net profit (INR mm)
Slide 3: Other Income
Other Income Figures in INR millions. Other Income FY25 Q2 FY25 Q1 FY24 Q4 FY24 Q3 FY24 Q2 Investment Income 88.1 147.3 133.8 108.5 76.7 Revaluation Income* 1.4 6.8 -7.8 -17.0 46.0 Others 38.9 58.1 104.3 116.4 18.8 Total 128.3 212.2 230.3 207.8 141.5 * Gain / Loss regrouped as other income/expenses
Slide 4: BPaaS, A&A and ACV
Amounts in $ mm BPaaS, A&A and ACV BPaaS A&A $83.1 $86.5 $71.2 $72.6 $66.5 22.1 $60.9 17.1 21.9 $39.6 17.2 $36.2 21.1 19.9 19.0 16.2 21.4 19.7 16.1 17.2 FY22 FY23 FY24 FY25 H1 FY22 FY23 FY24 FY25 H1 ACV of new deals (excludes CLX) 102.1 MM 82.4 MM 91.2 MM 35.7 29.4 28.9 26.7 24.4 24.8 22.6 22.9 21.6
Slide 5: Hedge Updates
Hedge Updates Current Hedge Status • Total outstanding hedges now $237.0 mm at average INR 85.40/$; 100% forwards Contract Year Currency Amount (mm) Avg. Rate (INR) FY24 Q2 $41.7 81.82 FY24 Q3 $45.0 82.96 FY24 Q4 $45.0 83.65 Matured Forwards Total FY24 USD $173.4 82.35 FY25 Q1 $47.7 84.23 FY25 Q2 $4
Slide 6: P&L Comparison
P&L Comparison Figures in INR millions. Operating P&L FY25 Q2 OPR (%) FY25 Q1 OPR (%) Operating Revenue $ 98.8 93.3 Total Revenue* 8,447 8,031 Operating Revenue 8,318 7,819 Cost of Revenues Delivery and Support Employees Cost 4,401 52.9% 4,324 55.3% General and Administrative Expenses Facilities (Re
Slide 7: QoQ EBIT Bridge
QoQ EBIT Bridge Figures in INR millions 107 8 1,960 84 149 42 1,556 13 192 Operating Offshore Onshore G&A S&D Depreciation Q2 FY25 EBIT Q1 FY25 EBIT Revenue & Oth Delivery Cost Delivery Cost Inc. • Operating revenue up by 12.0% YoY • Delivery Cost: Savings on account of improved utilization • G&A: L
Slide 8: Balance Sheet & Other Updates
Balance Sheet & Other Updates • Total Cash and Cash Equivalents of INR 8,359 mm for Q2 FY25 vs INR 10,893 mm for Q1 FY25 • Equivalent to INR 178.0 per share for Q2 FY25 vs INR 225.4 per share for Q1 FY25 • Net operating cash flow for Q2 FY25 at INR 2,048.1 mm vs INR 853.9 mm for Q1 FY25 o EBITDA con
Slide 9: Key Business Metrics
Key Business Metrics Metrics FY25 Q2 FY25 Q1 FY24 Q4 FY24 Q3 FY24 Q2 FY24 Q1 FY23 Q4 FY23 Q3 USD 87% 86% 86% 84% 83% 82% 83% 82% EURO 8% 9% 9% 9% 10% 10% 10% 10% Currency Contribution (%) * GBP 3% 3% 3% 3% 3% 3% 3% 3% Others 2% 2% 2% 4% 4% 5% 4% 5% North America 76% 75% 74% 74% 73% 72% 71% 71% Geogr
Slide 10: Revenue Mix Trends ($mm)
Revenue Mix Trends ($mm) $7.8 20.0% $7.57.6% 0.4% $7.4 $7.3 5.6% 3.0% (3.1%) $28.3 21.6% $7.8 6.4% 23.6% 0.9% 13.2% $27.0 $27.9 $29.4 19.9% 28.3% $28.0 (3.7%) 35.1% 3.3% 4.6% 10.6% 27.0% 56.1% $62.8 $57.6 $57.9 21.1% $53.7 14.1% 17.7% $51.8 3.1% 7.4% 20.2% 12.5% 19.7% 17.7% 30.8% FY24 Q2 FY24 Q3 FY2
Slide 11: Human Resources Update
Human Resources Update 17,749 18,227 123 16,333 125 Headcount 1,122 1,699 118 898 907 977 683 637 862 585 14,921 14,861 13,791 FY24 Q2 FY25 Q1 FY25 Q2 Offshore Delivery Onshore Delivery Support Services Tech Services BD 23.8% 22.8% Offshore Voluntary 18.1% Attrition Movement of Analytics HC to Tech
Slide 12: Balance Sheet Abstract
Balance Sheet Abstract Figures in INR millions. Particulars Sept 30, 2024 March 31, 2024 % Change Shareholder's Funds Capital 470 482 -3% Minority Interest 17 20 -13% Reserves and Surplus 20,012 21,993 -9% Total Shareholder's Funds 20,498 22,495 Application of Funds Fixed Assets 6,315 6,090 4% Right
Slide 13: Thank You
Thank You This presentation contains forward-looking statements, inter-alia, to enable investors to comprehend company’s prospects and take informed investment decisions. This report and other statements - written and oral - that we periodically make, contain forward-looking statements that set out