eClerx Services Limited · NSE:ECLERX
eClerx Services — Q2 FY2023 Earnings Presentation
12 slides from eClerx Services's earnings presentation, Nov 9, 2022
Slide 1: Investor Relations Financial Performance – Q2FY23
Investor Investor Relations Relations Financial Financial Performance Performance –- Q2FY23 Q1FY23 Q2FY23 Nov 10th,, 2022 Aug Nov 9th 2022
Slide 2: Financial Summary
Financial Summary Metrics FY23 Q2 Q-o-Q FY23 H1 Y-o-Y OPG revenue (USD mm) 82.5 3.7% 162.0 20.9% Revenue OPG revenue (INR mm) 6,503 5.3% 12,681 25.6% Total revenue (INR mm) 6,712 4.9% 13,109 28.6% EBITDA (INR mm) 2,023 8.2% 3,893 20.6% Profit EBIT (INR mm)* 1,749 7.9% 3,371 23.1% Net profit (INR mm)
Slide 3: Other Income
Other Income Figures in INR millions. Other Income FY23 Q2 FY23 Q1 FY22 Q4 FY22 Q3 FY22 Q2 Investment Income 42.8 26.0 21.0 27.9 34.0 Revaluation Income* 153.4 180.5 51.2 8.2 (24.3) Others 12.5 12.6 24.7 8.7 7.8 Total 208.7 219.1 96.9 44.8 17.5 * Gain / Loss regrouped as other income/expenses based
Slide 4: Hedge Updates
Hedge Updates Current Hedge Status • Total outstanding hedges now $191.9 mm at average INR 80.61/$; 100% forwards Contract Year Currency Amount (mm) Avg. Rate (INR) FY22 Q4 $39.4 77.2 Total FY22 USD $151.9 76.7 Matured Forwards FY23 Q1 $39.2 77.7 FY23 Q2 $37.3 77.9 FY23 Q3 $40.8 78.8 FY23 Q4 $41.7 7
Slide 5: P&L Comparison
P&L Comparison Figures in INR millions. Operating P&L FY23 Q2 OPR (%) FY23 Q1 OPR (%) Operating Revenue $ 82.5 79.5 Total Revenue* 6,712 6,398 Operating Revenue 6,503 6,178 Cost of Revenues Delivery and Support Employees Cost 3,494 53.7% 3,341 54.1% General and Administrative Expenses Facilities (Re
Slide 6: QoQ EBIT Bridge
QoQ EBIT Bridge 154.3 13.6 25.2 153.3 Q1 FY23 Operating Revenue Offshore Onshore Q2 FY23 EBIT G&A S&D Depreciation & Oth Inc. Delivery Cost Delivery Cost EBIT • Operating revenue & Oth Inc - Revenue growth • Delivery cost higher due to HC growth • G&A - Return to office costs • S&D - Lower contracto
Slide 7: Balance Sheet & Other Updates
Balance Sheet & Other Updates • Total Cash and Cash Equivalents of INR 8,305 mm for Q2 FY23 vs INR 7,633 mm for Q1 FY23 - Equivalent to INR 167.3 per share Q2 FY23 vs INR 230.5 for Q1 FY23 (INR 153.7 for Q1 FY23)* - Net operating cash flow in Q2 FY23 is INR 1,249.5 mm vs INR 1,056.5 mm in Q1 FY23 o
Slide 8: Key Business Metrics
Key Business Metrics Metrics FY23 Q2 FY23 Q1 FY22 Q4 FY22 Q3 FY22 Q2 FY22 Q1 FY21 Q4 FY21 Q3 USD 83% 82% 81% 80% 80% 80% 79% 81% EURO 9% 10% 11% 11% 10% 12% 12% 13% Currency Contribution (%) * GBP 3% 3% 3% 4% 5% 4% 4% 4% Others 5% 5% 5% 5% 5% 4% 5% 2% North America 72% 70% 69% 70% 69% 70% 70% 66% Ge
Slide 9: Revenue Mix Trends ($mm)
Revenue Mix Trends ($mm) $90.0 $80.0 $6.9 $6.1 7.6% $6.2 5.6% $5.8 23.6% $25.3 $70.0 28.4% $25.5 $6.4 $24.5 19.9% 35.1% 51.3% $23.1 27.0% 56.1% $60.0 $21.1 77.3% $50.0 $50.3 $46.4 $48.0 $44.4 20.2% $40.0 19.7% $41.8 30.8% 17.7% 29.4% $30.0 $20.0 $10.0 $0.0 FY22 Q2 FY22 Q3 FY22 Q4 FY23 Q1 FY23 Q2 Top
Slide 10: Human Resources Update
Human Resources Update 16,171 104 16,269 105 915 1,050 951 861 Headcount 13,572 103 645 681 705 789 673 13,520 13,608 11,302 FY22 Q2 FY23 Q1 FY23 Q2 Offshore Delivery Onshore Delivery Support Services Tech Services BD 41.3% Offshore Voluntary 37.1% Attrition^ 29.1% FY22Q2 FY23Q1 FY23Q2 ^Attrition in
Slide 11: Balance Sheet Abstract
Balance Sheet Abstract Figures in INR millions. Particulars September 30, 2022 March 31, 2022 % Change Shareholder's Funds Capital 497 331 50% Minority Interest 16 12 28% Reserves and Surplus 16,949 15,345 10% Total Shareholder's Funds 17,461 15,688 Application of Funds Fixed Assets 6,151 5,953 3% R
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