Eclerx Services Limited · NSE:ECLERX
Eclerx Services — Q3 FY21 Earnings Presentation
11 slides from Eclerx Services's earnings presentation, Jan 28, 2021
Slide 1: Financial Performance – Q3FY21
Financial Performance – Q3FY21 January 28th, 2021
Slide 2: Financial Summary
Financial Summary Metrics FY21 Q3 Q-o-Q YTD FY21 Y-o-Y OPG revenue (USD mm) 53.3 9.9% 146.6 (4.0%) Revenue OPG revenue (INR mm) 3,943 9.3% 10,917 0.5% Total revenue (INR mm) 3,976 10.3% 11,061 (0.8%) EBITDA (INR mm) 1,210 12.3% 3,236 17.3% Profit EBIT (INR mm)* 1,008 14.4% 2,664 19.3% Net profit (IN
Slide 3: Other Income
Other Income Figures in INR millions. Other Income FY21 Q3 FY21 Q2 FY21 Q1 FY20 Q4 FY20 Q3 Investment Income 47.3 59.6 107.9 88.9 84.4 Revaluation Income* (20.2) (64.5) (6.1) 75.9 22.3 Others 5.8 1.2 13.6 5.1 8.0 Total 32.9 (3.7) 115.4 169.9 114.7 * Gain / Loss regrouped as other income/expenses bas
Slide 4: P&L Comparison
P&L Comparison Figures in INR millions. Operating P&L FY21 Q3 OPR (%) FY21 Q2 OPR (%) Total Revenue 3,976 3,604 Operating Revenue 3,943 3,608 Cost of Revenues Delivery and Support Employees Cost 1,950 49.4% 1,793 49.7% General and Administrative Expenses Facilities (Rent and Electricity) 75 1.9% 72
Slide 5: Hedge Updates
Hedge Updates Current Hedge Status • Total outstanding hedges now $130.8 mm at average INR 77.4/$; 100% forwards Contract Year Currency Amount (mm) Avg. Rate (INR) Total FY20 USD $116.8 71.8 FY21 Q1 $23.7 74.1 Matured Forwards FY21 Q2 $27.7 74.5 FY21 Q3 $21.7 74.7 FY21 Q4 $25.6 75.3 Total FY21 USD $
Slide 6: QoQ EBIT Bridge
QoQ EBIT Bridge Figures in INR millions 83.9 7.7 72.7 6.1 88.0 156.7 372.1 Q2 FY21 G&A S&D Core Inv. & Other FX Reval. India Onshore Depreciation Q3 FY21 Revenue Income Change Employee Employee Cost Cost • S&D cost higher due to higher year end bonus provisions and wage hikes • G&A – higher acquisit
Slide 7: Balance Sheet & Other Updates
Balance Sheet & Other Updates • Total Cash and Cash Equivalents of INR 5,886 mm for Q3FY’21 vs INR 6,682 mm for Q3FY’20 - Equivalent to INR 173.1 per share Q3FY’21 vs INR 185.1 for Q3FY’20 - Net operating cash flow in Q3FY’21 is INR 884.9 mm vs INR 798.1 mm in Q3FY’20 o EBITDA conversion at 73.1% fo
Slide 8: Key Business Metrics
Key Business Metrics Metrics FY21 Q3 FY21 Q2 FY21 Q1 FY20 Q4 FY20 Q3 FY 20 Q2 USD 81% 81% 85% 82% 80% 81% EURO 13% 13% 9% 12% 12% 11% Currency Contribution (%) * GBP 4% 5% 4% 5% 6% 6% Others 2% 1% 2% 1% 2% 2% North America 66% 66% 71% 68% 66% 67% Geographic Concentration * Europe 28% 28% 23% 26% 28%
Slide 9: Revenue Mix Trends ($mm)
Revenue Mix Trends ($mm) 10% $19.3 $18.1 8% $3.8 $16.2 $15.5 6% $3.8 $4.9 $13.6 $14.3 $14.4 4% $4.3 2% $4.7 $11.9 0.7% $10.8 $4.0 -1% $9.6 -1.4% -3% -4.5% -5% -7% -7.2% -7.5% -9% FY20 Q3 FY20 Q4 FY21 Q1 FY21 Q2 FY21 Q3 Emerging (others) Emerging ($ 0.5 mm + ) Strategic (Top 10 %) Strategic growth is
Slide 10: Human Resources Update
Human Resources Update 11,484 95 440 66 790 Headcount 609 8,785 81 8,502 81 430 85 458 72 638 619 568 508 9,484 6,983 6,764 FY20 Q3 FY21 Q2 FY21 Q3 Offshore Delivery Onshore Delivery Support Services Tech Services R&D BD Offshore Voluntary 35.8% Attrition* 26.1% 19.1% FY20Q3 FY21Q2 FY21Q3 *Does not
Slide 11: 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