Eclerx Services Limited · NSE:ECLERX
Eclerx Services — Q3 FY2017 Earnings Presentation
15 slides from Eclerx Services's earnings presentation, Feb 8, 2017
Slide 1: Financial Performance – FY17 Q3
Presented to: Financial Performance – FY17 Q3 Data | Domain | Delivery February 08, 2017
Slide 2: Financial Summary
Financial Summary Metrics FY17 Q3 Q-o-Q FY17 YTD Y-o-Y Total revenue (INR mm) 3,359 -1% 10,246 2% Revenue OPG revenue (INR mm) 3,247 -3% 9,985 3% OPG revenue (USD mm) 47.2 -4% 146.3 -1% EBITDA (INR mm) 1,156 -12% 3,833 2% Profit OPM (INR mm) 910 -20% 3,191 5% Net profit (INR mm) 860 -11% 2,790 16% E
Slide 3: Other Income – FY17 Q3 vs. FY17 Q2
Other Income – FY17 Q3 vs. FY17 Q2 Other Income FY17 Q3 FY17 Q2 FY17 Q1 FY16 Q4 Investment & Other Income 72.5 84.7 60.9 40.9 Hedge Gain / (Loss) - - - (0.6) Revaluation and Realised Gain 40.4 (36.6) 39.1 32.7 Total 112.9 48.1 100.0 73.0 Note: Previous quarters numbers are restated as per IND AS Fig
Slide 4: Hedge Updates
Hedge Updates Current Hedge Status Total outstanding hedges now $136.2 mm at average INR 72.42/$; 100% forwards – 2.9 times quarter revenue vs. average of 2.6 times in preceding 4 quarters Contract Year Currency Amount (mn) Average Rate (INR) USD 25.5 70.7 FY17 Q4 Euro 3.2 81.0 Total FY17 Q4 – Equiv
Slide 5: P&L Comparison: FY17 Q3 vs. FY17 Q2
P&L Comparison: FY17 Q3 vs. FY17 Q2 Operating P&L FY17 Q3 OPR (%) FY17 Q2 OPR (%) Operating Revenue 3,246.6 3,335.3 Cost of Revenues Delivery and Support Employees Cost 1,338.5 41.2% 1,266.5 38.0% General and Administrative Expenses Facilities (Rent and Electricity) 147.7 4.5% 148.9 4.5% Administrat
Slide 6: OPM Bridging Analysis: Q-o-Q FY17 Q3 vs. FY17 Q2
OPM Bridging Analysis: Q-o-Q FY17 Q3 vs. FY17 Q2 34.2% 3.3% 1.7% 1.0% 0.3% 0.1% 28.0% 6.3% 0.1% FY17 Q2 Delivery & Support S&D Exp. G&A Dep Exc. Rate FY17 Q3 Emp. Cost • Delivery & Support Employees Cost: Increase in employees and onshore contractors, also in Q2 CLX employee cost was lower due to ho
Slide 7: Balance Sheet & Other Updates
Balance Sheet & Other Updates Total Cash and Cash equivalents of INR 5,530.8 mm; vs INR 7,043.2 mm for FY’17 Q2; Buy Back of share completed in Dec 2016 — Equivalent to INR 139.4 per share vs INR 172.3 for FY’17 Q2 — Net operating cash flow in FY’17 YTD is INR 2,475.1 mm vs INR 2,862.2 mm in FY16 YT
Slide 8: Key Business Metrics
Key Business Metrics FY 17 FY 17 FY 17 FY 16 FY 16 FY 16 Metrics Q3 Q2 Q1 Q4 Q3 Q2 USD 75% 73% 72% 72% 73% 74% Currency Contribution* (%) EURO 17% 19% 19% 19% 18% 18% GBP 7% 8% 9% 9% 9% 8% North America 69% 68% 66% 67% 67% 67% Geographic Concentration* Europe 27% 29% 30% 30% 29% 29% Debtors DSO (inc
Slide 9: Revenue Mix Trends - Consol
Revenue Mix Trends - Consol First year of CLX Acquisition 160% 136% 125% 140% 120% $12.9 $12.4 100% $12.1 $12.4 $11.2 80% 60% 40% 25% 18% 20% 9% 3% 0% -8% 0% -4% -9% -20% FY16 Q3 FY16 Q4 FY17 Q1 FY17 Q2 FY17 Q3 Emerging ($ mm) Top 10 % Emerging % Top 10 client Y-o-Y drop of -9.4% in USD & -8.8% in C
Slide 10: Human Resources Update
Human Resources Update Delivery & Support 8,862 8,827 8,552 8,648 8,100 1,153 1,164 6,836 1,005 1,101 1,066 871 7,095 7,709 7,663 7,451 7,582 5,965 FY14 FY15 FY16 FY17 Q1 FY17 Q2 FY17 Q3 Operations HC Support Services Selling & Distribution 89 80 81 79 76 77 FY14 FY15 FY16 FY17 Q1 FY17 Q2 FY17 Q3 *
Slide 11: Forward-looking statements disclaimer
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: Balance Sheet Abstract
Balance Sheet Abstract Particulars Dec 31, 2016 Sep 30, 2016 % of Change Shareholder’s Funds Capital 396.9 408.8 -2.9% Minority Interest 6.4 6.1 - Reserves and Surplus 10,904.2 12,516.5 -13% Total Shareholder's Funds 11,307.5 12,931.4 -13% Application of Funds Fixed Assets 3,395.8 3,543.3 -4% Deferr
Slide 13: Financial Summary – Quarterly View
Financial Summary – Quarterly View FY17 FY17 FY17 FY16 FY16 Metrics Q3 Q2 Q1 Q4 Q3 Total Revenue (INR mn) 3,359 3,383 3,503 3,505 3,481 Revenue Opg Revenue (INR mn) 3,247 3,335 3,403 3,432 3,443 Opg Revenue (USD mn) 47.2 48.9 50.2 50.8 51.8 EBITDA (INR mn) 1,156 1,317 1,360 1,427 1,262 Profit OPM (I
Slide 14: P&L Comparison – Quarterly View
P&L Comparison – Quarterly View FY17 OPR FY17 OPR FY17 OPR FY16 OPR FY16 OPR Operating P&L Q3 (%) Q2 (%) Q1 (%) Q4 (%) Q3 (%) Operating Revenue 3,247 3,335 3,403 3,432 3,443 Cost of Revenues Delivery and Support Employees Cost 1,339 41% 1,266 38% 1,325 39% 1,224 36% 1,366 40% General and Administrat
Slide 15: Key Business Metrics – Quarterly View
Key Business Metrics – Quarterly View FY17 FY17 FY17 FY16 FY16 FY16 FY16 FY15 Metrics Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Revenue Growth USD -3.5% -2.6% -1.1% -2.0% 3.2% 8.1% 14.2% 4.6% (%) Constant Currency -2.6% -0.4% -0.6% -2.5% 4.2% 7.7% 4.0% 6.3% USD 75% 73% 72% 72% 73% 74% 76% 85% Currency EURO 17% 19% 19