Eclerx Services Limited · NSE:ECLERX
Eclerx Services — FY17 H1 Earnings Presentation
15 slides from Eclerx Services's earnings presentation, Nov 7, 2016
Slide 1: Financial Performance – FY17 H1
Presented to: Financial Performance – FY17 H1 Data | Domain | Delivery Nov 07, 2016
Slide 2: Financial Summary
Financial Summary Metrics FY17 Q2 Q-o-Q FY17 H1 Y-o-Y Total revenue (INR mm) 3,383 -3% 6,887 6% Revenue OPG revenue (INR mm) 3,335 -2% 6,739 8% OPG revenue (USD mm) 48.9 -3% 99.1 3% EBITDA (INR mm) 1,317 -3% 2,677 8% Profit OPM (INR mm) 1,141 0% 2,281 15% Net profit (INR mm) 971 1% 1,930 24% EBITDA
Slide 3: Other Income – FY17 Q2 vs. FY17 Q1
Other Income – FY17 Q2 vs. FY17 Q1 Other Income FY17 Q2 FY17 Q1 FY16 Q4 FY16 Q3 Investment & Other Income 84.7 60.9 40.9 22.2 Hedge Gain / (Loss) - - (0.6) 2.9 Revaluation and Realised Gain (36.6) 39.1 32.7 12.0 Total 48.1 100.1 73.0 37.2 Note: Previous quarters numbers are restated as per IND AS Fi
Slide 4: Hedge Updates
Hedge Updates Current Hedge Status Total outstanding hedges now $141.6 mm at average INR 71.80/$; 100% forwards – 2.9 times quarter revenue vs. average of 2.4 times in preceding 4 quarters. Contract Year Currency Amount (mn) Average Rate (INR) USD 47.2 70.4 FY17 H2 Euro 6.2 80.1 Total FY17 H2 – Equi
Slide 5: P&L Comparison: FY17 Q2 vs. FY17 Q1
P&L Comparison: FY17 Q2 vs. FY17 Q1 Operating P&L FY17 Q2 OPR (%) FY17 Q1 OPR (%) Operating Revenue 3,335.3 3,403.3 Cost of Revenues Delivery and Support Employees Cost 1,266.5 38.0% 1,325.4 38.9% General and Administrative Expenses Facilities (Rent and Electricity) 148.9 4.5% 152.5 4.5% Administrat
Slide 6: OPM Bridging Analysis: FY17 Q2 vs. FY17 Q1
OPM Bridging Analysis: FY17 Q2 vs. FY17 Q1 0.3% 0.1% 0.7% 1.1% 34.2% 33.5% 0.5% FY17 Q1 S&D Exp. Dep Exc. Rate G&A Delivery & Support FY17 Q2 Emp. Cost • G&A: Professional fees were higher in Q1 for a project to improve account mining and sales process; • Delivery & Support Employees Cost: Lower in
Slide 7: Balance Sheet & Other Updates
Balance Sheet & Other Updates Total Cash and Cash equivalents of INR 7,043.2 mm; vs INR 5,982.4 mm for FY’17 Q1 — Equivalent to INR 172.3 per share vs INR 146.5 for FY’17 Q1 — Net operating cash flow in FY’17 H1 is INR 1,661.6 mm vs INR 1,725 mm in FY’16 H1 — Capex during FY’17 H1 is INR 130.5 mm vs
Slide 8: Key Business Metrics
Key Business Metrics Metrics FY 17 Q2 FY 17 Q1 FY 16 Q4 FY 16 Q3 FY 16 Q2 FY 16 Q1 USD 73% 72% 72% 73% 74% 76% Currency Contribution* (%) EURO 19% 19% 19% 18% 18% 15% GBP 8% 9% 9% 9% 8% 9% North America 68% 66% 67% 67% 67% 72% Geographic Concentration* Europe 29% 30% 30% 29% 29% 25% Debtors (includi
Slide 9: Revenue Mix Trends - Consol
Revenue Mix Trends - Consol First year of CLX Acquisition 180% 160% 153% 136% 140% 125% $12.9 120% $12.1 $12.4 $12.4 $12.4 100% 80% 60% 40% 18% 25% 14% 20% 9% 3% 0% 0% -4% -20% FY16 Q2 FY16 Q3 FY16 Q4 FY17 Q1 FY17 Q2 Emerging ($ mm) Top 10 % Emerging % Top 10 client Y-o-Y drop of -3.6% in USD & -3.3
Slide 10: Human Resources Update
Human Resources Update Delivery & Support 8,862 8,827 8,552 8,100 1,153 1,164 6,836 1,005 1,101 871 7,095 7,709 7,663 7,451 5,965 FY14 FY15 FY16 FY17 Q1 FY17 Q2 Delivery HC Support HC Selling and Distribution 89 80 79 76 77 FY14 FY15 FY16 FY17 Q1 FY17 Q2 * FY16 and onwards includes CLX- Realignment
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 Sep 30, 2016 June 30, 2016 % of Change Shareholder’s Funds Capital 408.8 407.9 0.2% Minority Interest 6.1 5.9 - Reserves and Surplus 12,516.5 10,533.5 19% Total Shareholder's Funds 12,931.4 10,947.3 18% Application of Funds Fixed Assets 3,543.3 3,650.0 -3% Deferred
Slide 13: Financial Summary – Quarterly View
Financial Summary – Quarterly View Metrics FY17 Q2 FY17 Q1 FY16 Q4 FY16 Q3 FY16 Q2 Total Revenue (INR mn) 3,383 3,503 3,505 3,481 3,376 Revenue Opg Revenue (INR mn) 3,335 3,403 3,432 3,443 3,285 Opg Revenue (USD mn) 48.9 50.2 50.8 51.8 50.2 EBITDA (INR mn) 1,317 1,360 1,427 1,262 1,292 Profit OPM (I
Slide 14: P&L Comparison – Quarterly View
P&L Comparison – Quarterly View FY17 OPR FY17 OPR FY16 OPR FY16 OPR FY16 OPR Operating P&L Q2 (%) Q1 (%) Q4 (%) Q3 (%) Q2 (%) Operating Revenue 3,335 3,403 3,432 3,443 3,285 Cost of Revenues Delivery and Support Employees 1,266 38% 1,325 39% 1,224 36% 1,366 40% 1,270 38.7% Cost General and Administr
Slide 15: Key Business Metrics – Quarterly View
Key Business Metrics – Quarterly View FY17 FY17 FY16 FY16 FY16 FY16 FY15 FY15 Metrics Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Revenue Growth USD -2.6% -1.1% -2.0% 3.2% 8.1% 14.2% 4.6% 2.1% (%) Constant Currency -0.4% -0.6% -2.5% 4.2% 7.7% 4.0% 6.3% 3.1% USD 73% 72% 72% 73% 74% 76% 85% 83% Currency EURO 19% 19% 19%