Any current/future new fundraising through debt or equity?

There is no explicit mention of any current or planned fundraising through debt or equity in the provided transcript. The company has loans to related parties but these are described more as internal cash pooling rather than external debt raising. Capital allocation discussions focus on strategically managing surplus cash and investing in capacity expansion and hiring rather than raising new funds. No dividends have been paid for the last four years, and the existing loans to related parties yield a low interest rate. M&A activity is focused on strategic acquisitions in existing markets and ca

Any current/future capex/capital investment/strategic investment?

Plans for capital investment primarily focus on expanding capacity. Currently facing capacity constraints in Bangalore; possible requirements in Chennai in 2023. Capital investments will be mainly for leasing and preparing workspaces rather than purchasing property. Significant investment planned in hiring graduate trainees, targeting 500 to 600 additions in 2023. Investment will also include training and upskilling these new hires. No specific mention of large acquisitions or other strategic capex beyond capacity expansion and talent development.

Future growth expectations in sales/revenue/volumes?

Expleo Solutions expects a growth range of 25% to 35% year-on-year for the financial year 2023. Sequential quarterly growth is anticipated at around 4% to 5%, though some quarters may experience slower growth due to base effects and seasonal factors. Digital revenue is targeted to cross 40% of total revenue this year, aiming for close to 50% next year. The company foresees continued strong growth in engineering services, especially through accelerated delivery from India. The US business currently constitutes about 13% of revenue, expected to grow to 13%-15%. The order book for 2023 is solid,

Future growth expectations in earnings/operating earnings/profits/EPS?

The company targets year-on-year revenue growth of **25% to 35%** for the financial year 2023 compared to 2022. Quarter-on-quarter growth is expected to be around **4% to 5%**, which contributes to the annual target. Post-merger, the expected sustainable EBITDA margin is **16% to 18%**. EPS (Earnings Per Share) improved by **45%** in the recent period, ending at Rs. 33.9. Management is cautiously optimistic despite macroeconomic challenges and expects to outperform the market with **around 20% growth at the group level** in calendar 2023. The company plans to invest significantly in

Current/ Expected Orderbook/ Pending Orders?

The order book as of early 2023 is largely unchanged from the beginning of 2022. Customers typically place orders for a maximum duration of one year, with renewals common. At the start of 2023, Expleo expects to have confirmed orders covering 70% to 75% of the previous year's business volume. Growth additions for 2023 are planned on top of this baseline order book. Most of the orders are renewals complemented by new growth-oriented orders as the year progresses.

Expleo SolutionsQ2 FY23IT - Services

Expleo Solutions Q2 FY23 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹875.55P/E: 9.3Market Cap: ₹1.4K CrSector: IT - Services

Management growth scorecard

Revenue

Category 2

Margin

Category 3

Fundraise

N/A

Order

Capex

Yes

1 of 4 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 2

Expleo Solutions expects a growth range of 25% to 35% year-on-year for the financial year 2023.
Sequential quarterly growth is anticipated at around 4% to 5%, though some quarters may experience slower growth due to base effects and seasonal factors.
Digital revenue is targeted to cross 40% of total revenue this year, aiming for close to 50% next year.
The company foresees continued strong growth in engineering services, especially through accelerated delivery from India.
The US business currently constitutes about 13% of revenue, expected to grow to 13%-15%.
The order book for 2023 is solid, with about 70%-75% of 2022 revenue already confirmed through renewals.
Headcount additions are planned cautiously for 2023 with an estimated target of 5,500 employees next year, supporting growth while maintaining cost control.
Overall, the group plans to outperform market growth in 2023 despite macroeconomic challenges.

Margin guidance

Category 3

The company targets year-on-year revenue growth of 25% to 35% for the financial year 2023 compared to 2022.
Quarter-on-quarter growth is expected to be around 4% to 5%, which contributes to the annual target.
Post-merger, the expected sustainable EBITDA margin is 16% to 18%.
EPS (Earnings Per Share) improved by 45% in the recent period, ending at Rs. 33.9.
Management is cautiously optimistic despite macroeconomic challenges and expects to outperform the market with around 20% growth at the group level in calendar 2023.
The company plans to invest significantly in talent acquisition in 2023 to support growth.
Growth is driven mainly by digital transformation services (automation, data, legacy modernization).

See what Expleo Solutions management said on margin guidance — free account, 30 seconds.

Fundraise plans

There is no explicit mention of any current or planned fundraising through debt or equity in the provided transcript.
The company has loans to related parties but these are described more as internal cash pooling rather than external debt raising.
Capital allocation discussions focus on strategically managing surplus cash and investing in capacity expansion and hiring rather than raising new funds.
No dividends have been paid for the last four years, and the existing loans to related parties yield a low interest rate.
M&A activity is focused on strategic acquisitions in existing markets and capabilities but financing details are not discussed.
Overall, the management did not indicate any external fundraising plans via debt or equity in the near future.

Order book

The order book as of early 2023 is largely unchanged from the beginning of 2022.
Customers typically place orders for a maximum duration of one year, with renewals common.
At the start of 2023, Expleo expects to have confirmed orders covering 70% to 75% of the previous year's business volume.
Growth additions for 2023 are planned on top of this baseline order book.
Most of the orders are renewals complemented by new growth-oriented orders as the year progresses.

See what Expleo Solutions management said on order book — free account, 30 seconds.

Capex plans

Yes

Plans for capital investment primarily focus on expanding capacity.
Currently facing capacity constraints in Bangalore; possible requirements in Chennai in 2023.
Capital investments will be mainly for leasing and preparing workspaces rather than purchasing property.
Significant investment planned in hiring graduate trainees, targeting 500 to 600 additions in 2023.
Investment will also include training and upskilling these new hires.
No specific mention of large acquisitions or other strategic capex beyond capacity expansion and talent development.

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