Redington Limited · NSE:REDINGTON

Redington — Q3 FY2022 Earnings Presentation

25 slides from Redington's earnings presentation, December 2021

  1. Slide 1: Redington (India) Limited Q3FY22 Earnings Presentation

    REDINGTON (INDIA) LIMITED Q3FY22 Earnings Presentation Dec 2021

  2. 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 India Limited’s future business developments and economic performance. While these forw

  3. Slide 3: Financial Highlights

    Financial Highlights “Record quarter in the history of Redington – Highest PAT ever” • Q3FY22 – On a Global basis, Revenue# degrew by 2% while EBITDA grew by 22% and PAT grew by 103%* • India – Revenue# degrew by 7%, EBITDA grew by 10% and PAT grew by 261%* • Overseas – Revenue# grew by 2%, EBITDA g

  4. Slide 4: Financial Highlights: India Business

    Financial Highlights INDIA BUSINESS • During the quarter, • India Distribution – Revenue degrew by 7%, EBITDA grew by 12% and PAT grew by 307%* • Revenue performance largely led by IT segment • WC days stood at 8 days in Q3FY22 as against 11 days in Q3FY21 • ROCE is strong at 103.3% and ROE at 31.2%

  5. Slide 5: Financial Highlights: Overseas Business

    Financial Highlights OVERSEAS BUSINESS • During the quarter, • Revenue grew by 2% but grew strong double digit at EBITDA and PAT level • META revenue performance largely led by IT Enterprise segment • SSA revenues impacted by degrowth in SSA on account of shift of few biz (at vendor end) to India •

  6. Slide 6: Q3FY22 Highlights

    Q4FY18 Highlights Q3FY22 Highlights Connecting The Dots Transformation from ‘Product’ to ‘Utility of Product’ 6

  7. Slide 7: Q3FY22 Redington Global Performance

    Q3FY22 Redington Global Performance ₹ in mn REVENUE# EBITDA PAT* 2% 22% 103% 1,70,032 1,66,198 5,443 3,881 4,465 1,916 Q3FY21 Q3FY22 Q3FY21 Q3FY22 Q3FY21 Q3FY22 Note: #Q3 Revenues growth as per Gross a/c – Global:2% Note: *Base qtr PAT contains one-off VSV tax provision of Rs 890mn (Mainly Gift of s

  8. Slide 8: Q3FY22 Performance by Market

    Q3FY22 Performance by Market ₹ in mn REVENUE# EBITDA PAT* 7% 10% 261% 77,295 71,565 INDIA 1,400 1,854 2,043 387 Q3FY21 Q3FY22 Q3FY21 Q3FY22 Q3FY21 Q3FY22 2% 62% OVERSEAS 30% 92,737 94,633 3,400 2,481 2,611 1,529 Q3FY21 Q3FY22 Q3FY21 Q3FY22 Q3FY21 Q3FY22 Note: #Q3 Revenues growth as per Gross a/c – I

  9. Slide 9: Q3FY22 Contribution by Market

    Q3FY22 Contribution by Market REVENUE EBITDA PAT* 55% 57% 58% 62% 64% 80% 45% 43% 42% 38% 36% 20% Q3FY21 Q3FY22 Q3FY21 Q3FY22 Q3FY21 Q3FY22 INDIA OVERSEAS INDIA OVERSEAS INDIA OVERSEAS Note: *Base qtr PAT in India contains one-off VSV tax provision of Rs 890mn (Mainly Gift of shares case) 9

  10. Slide 10: Q3FY22 India Performance

    Q3FY22 India Performance ₹ in mn REVENUE EBITDA PAT* 7% 12% DISTRIBUTION 307% 75,926 70,281 1,370 1,719 1,922 336 Q3FY21 Q3FY22 Q3FY21 Q3FY22 Q3FY21 Q3FY22 6% 10% 41% SERVICES 1,369 1,284 135 121 51 30 Q3FY21 Q3FY22 Q3FY21 Q3FY22 Q3FY21 Q3FY22 Note: Services represents ProConnect India Note: *Base q

  11. Slide 11: Q3FY22 Revenue Performance by Verticals

    Q3FY22 Revenue Performance by Verticals INDIA OVERSEAS GLOBAL 2% 2% 1% 1% 1% 1% 28% 32% 41% 40% 36% 41% 70% 67% 57% 59% 63% 58% Q3FY21 Q3FY22 Q3FY21 Q3FY22 Q3FY21 Q3FY22 IT Mobility Services IT Mobility Services IT Mobility Services Note: Upon re-grouping, only smartphones are shown under Mobility 1

  12. Slide 12: Q3FY22 Working Capital Days

    Q3FY22 Working Capital Days INDIA OVERSEAS GLOBAL 3 0 3 5 4 5 15 11 12 11 12 12 3 8 7 Q3FY21 Q2FY22 Q3FY22 Q3FY21 Q2FY22 Q3FY22 Q3FY21 Q2FY22 Q3FY22 13 12

  13. Slide 13: Q3FY22 Free Cash Flow Statement

    Q3FY22 Free Cash Flow Statement ₹ in mn Particulars Q3FY21 Q2FY22 Q3FY22 Profit Before Taxation 3,716 3,908 4,867 Non-cash items 573 372 594 Outflow of Finance Cost 173 217 128 Changes in Working Capital (1,299) 12,563 (9,359) Direct Tax Paid (437) (857) (479) Net Cash Flow from Operations 2,726 16,

  14. Slide 14: Q3FY22 Top Vendors

    Q3FY22 Top 5 Vendors REVENUE 35% 33% OTHERS SAMSUNG 4% 5% 5% 6% LENOVO 7% 9% DELL EMC 9% 12% HP Inc APPLE 40% 35% Q3FY21 Q3FY22 14 15

  15. Slide 15: 9MFY22 Performance

    Q3FY18 Highlights 9MFY18 Highlights 9MFY22 Performance Connecting The Dots Transformation from ‘Product’ to ‘Utility of Product’ 15

  16. Slide 16: 9MFY22 Redington Global Performance

    9MFY22 Redington Global Performance ₹ in million REVENUE# EBITDA PAT* 9% 38% 104% 4,54,071 4,15,112 13,660 9,876 9,320 4,564 9MFY21 9MFY22 9MFY21 9MFY22 9MFY21 9MFY22 Note: #9M Revenues growth as per Gross a/c – Global:11% Note: *Base 9M PAT contains one-off VSV tax provision of Rs 890mn (Mainly Gif

  17. Slide 17: 9MFY22 Performance by Market

    9MFY22 Performance by Market ₹ in mn REVENUE# EBITDA PAT* 18% 44% 186% 1,94,416 1,64,564 5,500 3,677 INDIA 3,815 1,285 9MFY21 9MFY22 9MFY21 9MFY22 9MFY21 9MFY22 4% 72% OVERSEAS 35% 2,50,548 2,59,655 8,160 5,643 6,061 3,279 9MFY21 9MFY22 9MFY21 9MFY22 9MFY21 9MFY22 Note: #9M Revenues growth as per Gr

  18. Slide 18: 9MFY22 Contribution by Market

    9MFY22 Contribution by Market REVENUE EBITDA PAT* 60% 57% 61% 60% 61% 72% 40% 43% 39% 40% 39% 28% 9MFY21 9MFY22 9MFY21 9MFY22 9MFY21 9MFY22 INDIA OVERSEAS INDIA OVERSEAS INDIA OVERSEAS Note: *Base 9M PAT in India contains one-off VSV tax provision of Rs 890mn (Mainly Gift of shares case) 20

  19. Slide 19: 9MFY22 India Performance

    9MFY22 India Performance ₹ in mn REVENUE EBITDA PAT* 19% 50% DISTRIBUTION 199% 1,90,738 1,60,945 5,139 3,583 3,415 1,197 9MFY21 9MFY22 9MFY21 9MFY22 9MFY21 9MFY22 +12%# +12%# +138%# 2% 10% 6% SERVICES 3,619 3,678 400 361 88 94 9MFY21 9MFY22 9MFY21 9MFY22 9MFY21 9MFY22 Note: #Services excluding Ensur

  20. Slide 20: 9MFY22 Revenue Performance by Verticals

    9MFY22 Revenue Performance by Verticals INDIA OVERSEAS GLOBAL 2% 2% 1% 1% 1% 1% 21% 31% 37% 34% 35% 29% 77% 67% 65% 64% 70% 62% 9MFY21 9MFY22 9MFY21 9MFY22 9MFY21 9MFY22 IT Mobility Services IT Mobility Services IT Mobility Services Note: Upon re-grouping, only smartphones are shown under Mobility N

  21. Slide 21: 9MFY22 Working Capital Days

    9MFY22 Working Capital Days INDIA OVERSEAS GLOBAL 2 1 7 6 5 5 16 16 14 14 13 9 11 3 8 9MFY21 H1FY22 9MFY22 9MFY21 H1FY22 9MFY22 9MFY21 H1FY22 9MFY22 24 21

  22. Slide 22: 9MFY22 Free Cash Flow Statement

    9MFY22 Free Cash Flow Statement ₹ in mn Particulars 9MFY21 H1FY22 9MFY22 Profit Before Taxation 7,433 6,921 11,788 Non-cash items 1,463 883 1,476 Outflow of Finance Cost 768 400 528 Changes in Working Capital 20,535 6,662 (2,696) Direct Tax Paid (1,369) (1,524) (2,003) Net Cash Flow from Operations

  23. Slide 23: 9MFY22 Top Vendors

    9MFY22 Top 5 Vendors REVENUE 41% 36% OTHERS SAMSUNG 5% LENOVO 4% 7% 6% DELL EMC 7% 9% HP Inc 11% 13% APPLE 31% 30% 9MFY21 9MFY22 27 23

  24. Slide 24: Shareholding Pattern

    Shareholding Pattern Mutual Others Funds Others Mutual Funds 15.8% 11.3% 19.3% 10.9% Affirma Synnex Mauritius Capital Limited 14.2% 24.1% Synnex Mauritius Limited 24.1% FIIs & FPIs 45.3% FIIs & FPIs 35.0% Sep-2021 Dec-2021 2824

  25. Slide 25: Investor Contacts

    Investor Contacts M. Muthukumarasamy Compliance Officer Redington House, “Centre Point”, Plot No. 11 (SP), Thiru. Vi. Ka. Industrial Estate, Guindy, Chennai - 600032 https://www.redingtongroup.com CIN - L52599TN1961PLC028758 25

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