Redington Limited · NSE:REDINGTON
Redington — Q2 FY2018 Earnings Presentation
21 slides from Redington's earnings presentation, September 2017
Slide 1: Q2FY18 Earnings Presentation
REDINGTON (INDIA) LIMITED Q2FY18 Earnings Presentation September 2017
Slide 2: Disclaimer
Disclaimer This presentation contains “forward looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Redington India Limited’s future business developments and economic performance. While these forw
Slide 3: Q2FY18 Highlights
Q2FY18 Highlights Connecting The Dots Transformation from ‘Product’ to ‘Utility of Product’ 3
Slide 4: Q2FY18 Business Highlights
Q2FY18 Business Highlights • Earnings growth faster than Revenue growth during the quarter • Reduction in Working Capital in Q2FY18 as compared to Q2FY17 • Generated positive free cash flow 4
Slide 5: Q2FY18 Consolidated Financials
Q2FY18- Consolidated Financials ₹ in million REVENUE EBIDTA PAT 8% 5% 12% 1,05,519 2,062 1,126 1,966 97,319 1,002 Q2FY17 Q2FY18 Q2FY17 Q2FY18 Q2FY17 Q2FY18 5
Slide 6: Q2FY18 Performance by Market
Q2FY18 Performance by Market ₹ in million REVENUE PAT 8% 12% 1,126 1,05,519 97,319 1,002 20% 608 66,312 509 60,298 10% 6% 493 5% 518 37,021 39,207 Q2FY17 Q2FY18 Q2FY17 Q2FY18 INDIA OVERSEAS INDIA OVERSEAS 6
Slide 7: Q2FY18 Performance by Vertical
Q2FY18 Performance by Vertical INDIA OVERSEAS CONSOLIDATED 4% 4% 2% 2% 2% 3% 17% 24% 26% 23% 31% 28% 79% 72% 72% 74% 67% 69% Q2FY17 Q2FY18 Q2FY17 Q2FY18 Q2FY17 Q2FY18 IT Mobility Services Note: Upon re-grouping, only smartphones are shown under Mobility 7
Slide 8: Q2FY18 Working Capital Days
Q2FY18 – Working Capital Days CONSOLIDATED 54 49 30 26 53 54 42 Inventory days Debtor days 32 46 40 38 35 Creditor days Working capital days India Overseas Q2FY17 Q2FY18 Q2FY17 Q2FY18 8
Slide 9: Free Cash Flow Statement
Free Cash Flow Statement ₹ in million Particulars Q2 FY18 Q2 FY17 Profit Before Taxation 1,528 1,362 Non-cash items 343 264 Change in Working Capital 1,253 5,104 Direct Tax Paid (398) (211) Outflow of Finance Cost 323 243 Net Cash Flow from Operations 3,049 6,763 Capex (135) (262) Dividend (1,228) (
Slide 10: Q2FY18 Top Vendors Consolidated
Q2FY18 – Top 5 Vendors Consolidated REVENUE 37% OTHERS 47% SAMSUNG 5% DELL EMC 8% 4% LENOVO 6% 8% 8% HP Inc 16% APPLE 17% 26% 18% Q2FY17 Q2FY18 Note: Effect of Dell EMC merger is shown in Q2FY18 figures 10
Slide 11: Q2FY18 Performance – ProConnect
Q2FY18 Performance – ProConnect ₹ in million REVENUE EBIDTA 96% 45% • Revenue growth over 117 766 Q2FY17 is 96% 81 390 • PBT growth over Q2FY17 is 38% Q2FY17 Q2FY18 Q2FY17 Q2FY18 PBT PAT 38% 36% 64 99 47 72 Q2FY17 Q2FY18 Q2FY17 Q2FY18 Above figures include Mission Critical Services 11
Slide 12: H1FY18 Highlights
H1FY18 Highlights Connecting The Dots Transformation from ‘Product’ to ‘Utility of Product’ 12
Slide 13: H1FY18 Consolidated Financials
H1FY18- Consolidated Financials ₹ in million REVENUE EBIDTA PAT 5% 3% 9% 2,04,327 2,110 3,901 1,93,728 3,793 1,933 H1FY17 H1FY18 H1FY17 H1FY18 H1FY17 H1FY18 13
Slide 14: H1FY18 Performance by Market
H1FY18 Performance by Market ₹ in million REVENUE PAT 5% 9% 2,04,327 2,110 1,93,728 1,933 1,147 9% 953 20% 1,18,868 1,29,445 0% 2% 980 963 74,860 74,882 H1FY17 H1FY18 H1FY17 H1FY18 INDIA OVERSEAS INDIA OVERSEAS 14
Slide 15: H1FY18 Performance by Vertical
H1FY18 Performance by Vertical INDIA OVERSEAS CONSOLIDATED 4% 5% 2% 2% 3% 3% 20% 20% 28% 25% 28% 32% 76% 75% 70% 72% 69% 66% H1FY17 H1FY18 H1FY17 H1FY18 H1FY17 H1FY18 Note: Upon re-grouping, only smartphones are shown under Mobility 15
Slide 16: H1FY18 Working Capital Days
H1FY18 – Working Capital Days CONSOLIDATED 54 50 30 27 56 52 42 Inventory days Debtor days 33 46 41 38 36 Creditor days Working capital days India Overseas H1FY17 H1FY18 H1FY17 H1FY18 16
Slide 17: Consolidated Balance Sheet
Consolidated Balance Sheet ₹ in million Particulars 30-SEP-17 30-SEP-16 Source: Networth 32,662 30,388 Net Debt 10,159 13,626 Minority Interest 3,615 3,688 Total 46,436 47,702 Application: Fixed Assets 4,554 4,967 Goodwill 213 237 Net Assets 41,669 42,498 Total 46,436 47,702 17
Slide 18: Free Cash Flow Statement
Free Cash Flow Statement ₹ in million Particulars H1 FY18 H1 FY17 Profit Before Taxation 2,813 2,682 Non-cash items 590 527 Change in Working Capital (338) 6,583 Direct Tax Paid (584) (653) Outflow of Finance Cost 664 568 Net Cash Flow from Operations 3,145 9,708 Capex (240) (337) Dividend (1,259) (
Slide 19: H1FY18 Top Vendors Consolidated
H1FY18 – Top 5 Vendors Consolidated REVENUE 39% OTHERS 47% HP Ent 5% LENOVO 5% 7% DELL EMC 7% 8% 5% HP Inc 15% APPLE 16% 20% 26% H1FY17 H1FY18 Note: Effect of Dell EMC merger is shown in H1FY18 figures 19
Slide 20: Shareholding Pattern
Shareholding Pattern Mutual Funds Others Others 13.2% 10.3% 13.4% Mutual Funds 13.1% Harrow Investment Holding Limited 8.2% Standard Chartered Private Equity Standard Chartered 15.4% Private Equity Synnex Mauritius 15.4% Limited 23.6% Synnex Mauritius Limited 23.6% Foreign Institutional Foreign Inve
Slide 21: Investor Contacts
CIN - L52599TN1961PLC028758 Investor Contacts M. Muthukumarasamy Compliance Officer Redington (India) Limited SPL Guindy House, 95 Mount Road, Guindy, Chennai 600 032 https://www.redingtonindia.com Sowmiya M Manager – Investor Relations [email protected] Connecting Corporate Presentat