eClerx Services Limited · NSE:ECLERX
eClerx Services — Q3 FY2023 Earnings Presentation
11 slides from eClerx Services's earnings presentation, Feb 2, 2023
Slide 1: Financial Performance – Q3FY23
Investor Investor Relations Relations Financial Performance – Q3FY23 Feb 2nd, 2023
Slide 2: Financial Summary
Financial Summary Metrics FY23 Q3 Q-o-Q YTD FY23 Y-o-Y OPG revenue (USD mm) $85.1 3.2% $247.1 19.1% Revenue OPG revenue (INR mm) 6,867 5.6% 19,548 24.6% Total revenue (INR mm) 7,045 5.0% 20,154 27.3% EBITDA (INR mm) 2,084 3.0% 5,977 18.4% Profit EBIT (INR mm)* 1,785 2.1% 5,156 20.0% Net profit (INR
Slide 3: Other Income
Other Income Figures in INR millions. Other Income FY23 Q3 FY23 Q2 FY23 Q1 FY22 Q4 FY22 Q3 Investment Income 66.1 42.8 26.0 21.0 27.9 Revaluation Income* 49.0 153.4 180.5 51.2 8.2 Others 62.7 12.5 12.6 24.7 8.7 Total 177.8 208.7 219.1 96.9 44.8 * Gain / Loss regrouped as other income/expenses based
Slide 4: Hedge Updates
Hedge Updates Current Hedge Status • Total outstanding hedges now $193.8 mm at average INR 81.85/$; 100% forwards Contract Year Currency Amount (mm) Avg. Rate (INR) Total FY22 USD $151.9 76.7 FY23 Q1 $39.2 77.7 Matured Forwards FY23 Q2 $37.3 77.9 FY23 Q3 $40.8 78.8 FY23 Q4 $41.7 79.7 Total FY23 USD
Slide 5: P&L Comparison
P&L Comparison Figures in INR millions. Operating P&L FY23 Q3 OPR (%) FY23 Q2 OPR (%) Operating Revenue $ 85.1 82.5 Total Revenue* 7,045 6,712 Operating Revenue 6,867 6,503 Cost of Revenues Delivery and Support Employees Cost 3,602 52.5% 3,463 53.2% General and Administrative Expenses Facilities (Re
Slide 6: QoQ EBIT Bridge
QoQ EBIT Bridge 65.0 73.9 18.8 114.2 25.1 139 Q2 FY23 Operating Revenue Offshore Onshore Q3 FY23 EBIT G&A S&D Depreciation & Oth Inc. Delivery Cost Delivery Cost EBIT • Operating revenue & Oth Inc - Revenue growth • Delivery cost higher due to HC growth • S&D – Higher travel & marketing spends, high
Slide 7: Balance Sheet & Other Updates
Balance Sheet & Other Updates • Total Cash and Cash Equivalents of INR 7,946 mm for Q3 FY23 vs INR 8,305 mm for Q2 FY23 - Equivalent to INR 160.1 per share Q3 FY23 vs INR 167.3 for Q2 FY23 - Net operating cash flow in Q3 FY23 is INR 1,094.7 mm vs INR 1,249.5 mm in Q2 FY23 o EBITDA conversion at 52.5
Slide 8: Key Business Metrics
Key Business Metrics Metrics FY23 Q3 FY23 Q2 FY23 Q1 FY22 Q4 FY22 Q3 FY22 Q2 FY22 Q1 FY21 Q4 USD 82% 83% 82% 81% 80% 80% 80% 79% EURO 10% 9% 10% 11% 11% 10% 12% 12% Currency Contribution (%) * GBP 3% 3% 3% 3% 4% 5% 4% 4% Others 5% 5% 5% 5% 5% 5% 4% 5% North America 71% 72% 70% 69% 70% 69% 70% 70% Ge
Slide 9: Revenue Mix Trends ($mm)
$88.0 Revenue Mix Trends ($mm) $7.0 $6.9 20.0% $78.0 $6.1 7.6% $6.2 $28.1 5.6% $25.3 21.6% 23.6% $5.8 $25.5 19.9% $68.0 28.3% $24.5 35.1% $23.1 27.0% 56.1% $58.0 $48.0 $50.3 $50.0 $48.0 20.2% 12.5% $46.4 19.7% $44.4 17.7% 30.8% $38.0 $28.0 $18.0 FY22 Q3 FY22 Q4 FY23 Q1 FY23 Q2 FY23 Q3 Top 10 clients
Slide 10: Human Resources Update
Human Resources Update 16,804 16,269 107 105 956 1,050 Headcount 863 14,112 103 861 607 645 787 792 665 14,271 13,608 11,765 FY22 Q3 FY23 Q2 FY23 Q3 Offshore Delivery Onshore Delivery Support Services Tech Services BD Offshore Voluntary 37.3% 37.1% Attrition^ 32.3% FY22 Q3 FY23 Q2 FY23 Q3 ^Attrition
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