Eclerx Services Limited · NSE:ECLERX
Eclerx Services — H1 FY2016 Earnings Presentation
15 slides from Eclerx Services's earnings presentation, Nov 2, 2015
Slide 1: Financial Performance – FY16 H1
Presented to: Financial Performance – FY16 H1 Data | Domain | Delivery November 02, 2015
Slide 2: Financial Summary
Financial Summary Metrics FY16 Q2 Q-o-Q FY16 H1 Y-o-Y Total revenue (INR mm) 3,399 8% 6,541 42% Revenue OPG revenue (INR mm) 3,285 10% 6,268 40% OPG revenue (USD mm) 50.2 8% 96.6 30% EBITDA (INR mm) 1,335 16% 2,487 44% Profit OPM (INR mm) 1,094 23% 1,985 43% Net profit (INR mm) 927 27% 1,660 43% EBI
Slide 3: Other Income – FY16 Q2 vs. FY16 Q1
Other Income – FY16 Q2 vs. FY16 Q1 Other Income FY16 Q2 FY16 Q1 FY15 Q4 FY15 Q3 Investment & Other Income 15.9 19.9 53.5 51.0 Hedge Gain / (Loss) (7.8) (6.1) 94.0 17.7 Revaluation and Realised Gain 105.6 145.3 (-) 50.9 45.2 Total 113.8 159.1 96.5 113.8 Figures in INR million Investment Income down d
Slide 4: Hedge Updates
Hedge Updates Current Hedge Status Total outstanding hedges now $118.6 mm at average INR 69.42/$ (up from $110.8 at INR 68.59/$); 100% forwards – 2.4 times quarter revenue vs. average of 2.6 times in preceding 4 quarters. – Since CLX has natural hedge, so effective hedge ratio will remain low Hedges
Slide 5: P&L Comparison: FY16 Q2 vs. FY16 Q1
P&L Comparison: FY16 Q2 vs. FY16 Q1 Operating P&L FY16 Q2 OPR (%) FY16 Q1 OPR (%) Operating Revenue 3,285.1 2,982.9 Cost of Revenues Employee Cost 1,266.2 38.5% 1,191.4 39.9% General and Administrative Expenses Rent 114.8 3.5% 116.2 3.9% Communication Expenses 44.3 1.3% 42.6 1.4% Legal and Professio
Slide 6: OPM Bridging Analysis: FY16 Q2 vs. FY16 Q1
OPM Bridging Analysis: FY16 Q2 vs. FY16 Q1 1.6% 0.5% 1.6% 33.3% 0.3% 0.5% 29.9% FY16 Q1 Dep G&A Emp. Cost Avg. Exc. Rate S&D Exp. FY16 Q2 Improved staff utilisation S&D cost reduction due to lower travel cost, lower bonus provision Note: Bridging analysis in constant currency; impact of currency mov
Slide 7: Balance Sheet & Other Updates
Balance Sheet & Other Updates Total Cash and Cash equivalents of INR 2,959 mn; zero debt — Equivalent to INR 97.2 per share; — H1 Operating cash flow INR 1,725 mn - 104% of net income (FY15H1 878 mm INR at 76% of net income) — Capex during H1 was INR 355 mn Trailing 12 months EPS – Basic: INR 92.2;
Slide 8: Key Business Metrics
Key Business Metrics Metrics FY 16 Q2 FY 16 Q1 FY 15 Q4 FY 15 Q3 FY15 Q2 FY15 Q1 USD 74% 76% 85% 83% 82% 81% Currency Contribution* (%) EURO 18% 15% 10% 12% 13% 14% GBP 8% 9% 5% 5% 5% 5% North America 67% 72% 78% 78% 74% 73% Geographic Concentration* Europe 29% 25% 18% 18% 23% 22% Debtors (including
Slide 9: Revenue Mix Trends – Consol
Revenue Mix Trends – Consol 90% 84% 81% 80% 70% $22.2 51% 60% $19.7 50% 44% 42% $14.7 40% $13.2 $12.3 30% 20% 8% 10% 4% 1% 1% -3% 0% -10% FY15 Q2 FY15 Q3 FY15 Q4 FY16 Q1 FY16 Q2 Emerging ($ mm) Top 5 % Emerging % Organic Top 5 USD growth is 8.3% (CC 11.8%) & Emerging 35.6% Jump in Emerging growth to
Slide 10: Human Resources Update
Human Resources Update Delivery & Support 8,100 8,747 8,743 6,836 1,125 1,149 5,954 1,005 4,405 871 656 470 7,622 7,594 5,965 7,095 3,935 5,298 FY12 FY13 FY14 FY15 FY16 Q1 FY16 Q2 Operations HC Support Services BD / Sales 89 81 76 82 62 46 FY12 FY13 FY14 FY15 FY16 Q1 FY16 Q2 * FY16 Q1 onwards includ
Slide 11: Forward-looking statements
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 30-Sep-15 30-Jun-15 % of Change Shareholder’s Funds Capital 304.6 303.9 0.2% Minority Interest 6.8 4.6 - Reserves and Surplus 8,559.1 7,653.2 12% Total Shareholder's Funds 8,870.4 7,961.7 11% Application of Funds Fixed Assets 3,583.4 3,489.9 3% Deferred Tax Assets
Slide 13: Financial Summary – Quarterly View
Financial Summary – Quarterly View Metrics FY16 Q2 FY16 Q1 FY15 Q4 FY15 Q3 FY15 Q2 Total Revenue (INR mn) 3,399 3,142 2,610 2,530 2,422 Revenue Opg Revenue (INR mn) 3,285 2,983 2,513 2,416 2,318 Opg Revenue (USD mn) 50.2 46.4 40.7 38.9 38.1 EBITDA (INR mn) 1335 1152 826 924 920 Profit OPM (INR mn) 1
Slide 14: P&L Comparison – Quarterly View
P&L Comparison – Quarterly View FY16 OPR FY16 OPR FY15 OPR FY15 OPR FY15 OPR Operating P&L Q2 (%) Q1 (%) Q4 (%) Q3 (%) Q2 (%) Operating Revenue 3,285 2,983 2,513 2,416 2,318 Cost of Revenues Employee Cost 1,266 39% 1,191 40% 949 38% 883 37% 847 37% General and Administrative Expenses Rent 115 3% 116
Slide 15: Revenue Quality – Quarterly View
Revenue Quality – Quarterly View FY16 FY16 FY15 FY15 FY15 FY15 FY14 FY14 Metrics Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Revenue Growth USD 8.1% 14.2% 4.6% 2.1% 5.1% 2.0% -0.4% 4.7% (%) Constant Currency 7.7% 4.0% 6.3% 3.1% 5.6% 1.9% -0.6% 4.0% USD 74% 76% 85% 83% 82% 81% 80% 81% Currency EURO 18% 15% 10% 12% 13% 1