eClerx Services Limited · NSE:ECLERX
eClerx Services — Q1 FY2020 Earnings Presentation
13 slides from eClerx Services's earnings presentation, Aug 2, 2019
Slide 1: Financial Performance – Q1 FY20
Data. Domain. Delivery. eClerx Financial Performance – Q1 FY20 2nd August, 2019 Presented to:
Slide 2: Financial Summary
Financial Summary Metrics FY20 Q1 Q-o-Q Y-o-Y OPG revenue (USD mm) 50.9 (1%) 3% Revenue OPG revenue (INR mm) 3,547 (3%) 1% Total revenue (INR mm) 3,630 (3%) (2%) EBITDA (INR mm) 744 (18%) (23%) Profit EBIT (INR mm) 572 (26%) (34%) Net profit (INR mm) 398 (33%) (34%) EBITDA (%) 20.5% -361 bps -552 bp
Slide 3: Other Income – FY20 Q1 vs. FY19 Q4
Other Income – FY20 Q1 vs. FY19 Q4 Figures in INR millions. Other Income FY20 Q1 FY19 Q4 FY19 Q3 FY 19 Q2 FY19 Q1 Investment Income 88.5 108.1 100.1 79.3 67.5 Revaluation and Realised (11.2) (15.9) (103.9) 108.7 125.3 Gain* Other Misc. Income 5.1 3.6 4.1 4.0 5.1 Total 82.5 95.7 0.2 192.1 197.8 * Fx.
Slide 4: Hedge Updates
Hedge Updates Current Hedge Status • Total outstanding hedges now $143.3 mm at average INR 73.4/$; 100% forwards Contract Year Currency Amount (mn) Avg. Rate (INR) FY19 Q2 $30.4 68.7 FY19 Q3 $32.7 69.0 Matured Forwards FY19 Q4 $29.5 69.0 Total FY19 USD $123.5 68.96 FY20 Q1 $30.3 69.9 FY20 Q2 $29.9 7
Slide 5: P&L Comparison: FY20 Q1 vs. FY19 Q4
P&L Comparison: FY20 Q1 vs. FY19 Q4 Figures in INR millions. Operating P&L FY20 Q1 OPR (%) FY19 Q4 OPR (%) Total Revenue 3,630 3,747 Operating Revenue 3,547 3,651 Cost of Revenues Delivery and Support Employees Cost 1,908 53.8% 1,777 48.7% General and Administrative Expenses Facilities (Rent and Ele
Slide 6: EBIT Bridging Analysis: Y-o-Y FY20 Q1 vs. FY19 Q1
EBIT Bridging Analysis: Y-o-Y FY20 Q1 vs. FY19 Q1 Figures in INR millions. 27.1 124.9 136.4 99.6 82.8 78.2 Total Revenue 87.6 Dely. Emp. Cost 182.4 Q1 FY19 G&A S&M Core SEIS Investment FX Reval. India Onshore Depreciation Q1 FY20 revenue income Change Employee Employee Cost Cost • Lower G&A due to r
Slide 7: Balance Sheet & Other Updates
Balance Sheet & Other Updates • Total Cash and Cash equivalents of INR 5,287 mm for Q1FY’20 vs INR 6,067 mm for Q1FY’19 ̶ Equivalent to INR 146.5 per share vs INR 159.2 for Q1FY’19 ̶ Net operating cash flow in Q1FY’20 is INR 732.5 mm vs INR (225.9) mm in Q1FY’19 ̶ Capex during Q1 FY’20 is INR 63.6 m
Slide 8: Key Business Metrics
Key Business Metrics FY 20 FY 19 FY 19 FY 19 FY 19 FY 18 FY 18 FY 18 FY 18 Metrics Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 USD 80% 80% 82% 82% 82% 79% 83% 82% 84% EURO 10% 10% 9% 10% 10% 13% 10% 10% 9% Currency Contribution (%) * GBP 7% 7% 7% 6% 6% 6% 6% 6% 6% Others 3% 3% 2% 2% 2% 2% 1% 2% 1% North America 67%
Slide 9: Revenue Mix Trends ($mm)
Revenue Mix Trends ($mm) 10% $3.9 $5.3 8% $4.4 $5.0 $13.4 $4.2 $4.9 6% $4.1 $4.9 $12.1 $12.0 4% $3.7 $10.5 $10.3 $10.0 $9.7 $9.4 2% $8.7 0.5% 2.1% -1% -1.4% -1.0% -2.7% -2.8% -3% -5% -4.0% -4.9% -5.4% -7% FY18 Q1 FY18 Q2 FY18 Q3 FY18 Q4 FY19 Q1 FY19 Q2 FY19 Q3 FY19 Q4 FY20 Q1 Emerging (others) Emerg
Slide 10: Human Resources Update
Human Resources Update Headcount 9,363 9,509 9,495 78 91 97 91 388 90 376 90 444 635 639 638 366 558 697 7,746 7,747 7,596 FY19 Q1 FY19 Q4 FY20 Q1 Offshore Delivery Onshore Delivery Support Services Tech Services R&D BD Offshore Attrition 44% 41% 41% FY19 Q1 FY19 Q4 FY20 Q1 Voluntary Attrition exclu
Slide 11: 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 anticipate
Slide 12: Financial Summary – Quarterly View
Financial Summary – Quarterly View Metrics FY20 Q1 FY19 Q4 FY19 Q3 FY19 Q2 FY19 Q1 OPG revenue (USD mm) 50.9 51.2 50.2 50.0 49.2 Revenue OPG revenue (INR mm) 3,547 3,651 3,576 3,559 3,519 Total revenue (INR mm) 3,630 3,747 3,577 3,751 3,717 EBITDA (INR mm) 744 903 667 1,024 967 Profit EBIT (INR mm)
Slide 13: P&L Comparison – Quarterly View
P&L Comparison – Quarterly View Figures in INR millions. FY20 OPR FY19 OPR FY19 OPR FY19 OPR FY19 OPR Operating P&L Q1 (%) Q4 (%) Q3 (%) Q2 (%) Q1 (%) Total Revenue 3,630 3,747 3,577 3,751 3,717 Operating Revenue 3,547 3,651 3,576 3,559 3,519 Cost of Revenues Delivery and Support Employees Cost 1,90