Rolta's Nine Months' Consolidated Revenue Grows 59.7% and Net Profit 37.2%
MUMBAI, May 24, 2014 /PRNewswire/ --
Rolta India Limited, a leading provider of innovative IP-led IT solutions, today announced audited financial results for the quarter and the nine-month period ended March 31, 2014. The Company had adopted July 1 to June 30 as its Financial Year. The Companies Act 2013 has prescribed a uniform Financial Year ending March 31 for all Indian Companies. The Company's Board of Directors, therefore, decided to end the financial year on March 31 instead of June 30, 2014. The financial year data being reported was for the period of nine months up to March 31, 2014. This financial data is, therefore, not strictly comparable with FY-13 data.
- Consolidated Revenue for Q3 FY-14 at Rs. 1,114.78 cr (Rs. 11.15 Billion) against Rs. 759.17 cr (Rs. 7.59 Billion) in Q2 FY-14, registering a Q-o-Q growth of 46.8% and Y-o-Y growth of 95.6%.
- Consolidated EBITDA for Q3 FY-14 at Rs. 281.37 cr (Rs. 2.82 Billion) against Rs. 285.06 cr (Rs. 2.85 Billion) in Q2 FY-14, registering a Q-o-Q decline of 1.3% and Y-o-Y growth of 28.5%.
- Consolidated Profit after Tax for Q3 FY-14 at Rs. 138.82 cr (Rs. 1.39 Billion) against Rs. 74.61 cr (Rs. 0.75 Billion) in Q2 FY-14, registering a Q-o-Q growth of 86.0% and Y-o-Y growth of 89.8%.
- Consolidated Revenue for nine months FY-14 at Rs. 2,501.72 cr (Rs. 25.02 Billion) against Rs. 1,566.58 cr (Rs. 15.67 Billion) in FY-13, registering a Y-o-Y growth of 59.7%.
- Consolidated EBITDA for nine months FY-14 at Rs. 805.77 cr (Rs. 8.06 Billion) against Rs. 646.70 cr (Rs. 6.47 Billion) in FY-13, registering a Y-o-Y growth of 24.6%.
- Consolidated Profit after Tax for nine months FY-14 at Rs. 283.69 cr (Rs. 2.84 Billion) against Rs. 206.74 cr (Rs. 2.07 Billion) in FY-13, registering a Y-o-Y growth of 37.2%.
- The Board of Directors has recommended a final dividend of Rs. 2.25 per equity shares on the face value of Rs. 10 each for the financial year ended March 31, 2014.
Commenting on the results, Mr. K. K. Singh, Chairman and Managing Director said, "We are very pleased with the progress we made during the fiscal year on all fronts. We grew the business not only in quantitative terms, but also qualitatively. With good traction in all geographies for our IP-led solutions and services in every vertical that we serve, we are now getting much larger orders, including licenses for Rolta IP and annuity revenues. This gives us the confidence to look more optimistically at Rolta's business in the new year."
During the fiscal year under review, a number of noteworthy events took place. Most recently, the Company received the patents it had applied for in the US for certain unique technologies and processes embedded in Rolta iPerspective™, a suite at the heart of Rolta's offerings for Cloud security, enterprise integration and OT-IT integration solutions. Additionally, Rolta has registered copyrights for around 120 products. The Company is seeking patents and copy rights for many more products.
Rolta continues to gain recognition from customers, partners and industry analysts for its ability to uniquely combine its strengths in Geospatial, Engineering and IT domains, something that hardly any other company can do. Rolta focuses on building innovative IP-led solutions in the areas such as Cloud computing, Predictive Analytics, and OT/IT integration that help customers to derive value from their IT investments. Rolta OneView™ is an example of Rolta IP receiving widespread recognition. It was positioned by NASSCOM/Frost & Sullivan in the top right quadrant in their Product Excellence Matrix for Analytics products thereby recognizing its wide application and "established" maturity level. Recently, a major industry analyst's report also named Rolta OneView™ as a leading packaged analytics solution.
Rolta's wholly-owned subsidiary, Advizex, was named as the global "Partner of the Year" by VMware in recognition of the Company's success in the domain of Software Defined Infrastructure.
Rolta and SAP entered into a strategic partnership which enables the companies to provide customers across the world with cutting-edge Rolta solutions. For example, the integrated operational excellence solution based on Rolta OneView™ offers consistent information with actionable intelligence to stakeholders across an enterprise and empowers them to make effective decisions by integrating mission-critical information from various business functions. Rolta believes that this is one of the first solutions of its type globally that exploits in-memory predictive analytics capabilities of SAP technologies. Rolta's outstanding contribution as an SAP partner was recognized through a 2014 SAP® Pinnacle award as "OEM Partner of the Year", and is evidence of Rolta's success in its endeavor to co-innovate with SAP to develop state-of-the-art solutions based on Big Data, Mobility and Cloud technologies, thereby bringing greater value to customers world-wide.
During the year, the Company continued to not only win new customers in all geographies, but also steadily deepen its relationships with its customers through provision of additional products and services from its expanded portfolio. As a result, Rolta has strengthened its position in significant industry segments like Banking, Finance, Insurance, Manufacturing, Retail and Healthcare, apart from the traditional Rolta segments like, Oil & Gas, Utilities, Government, Infrastructure, and Defense & Security, where it remains strong.
Defence and Homeland Security
In the Defence and Homeland Security (HLS) sector, the Company continues to strengthen its leadership position in India. For example, Rolta's C2 (Command & Control) solutions are becoming the standard for Indian defense after wins and implementations at various key military organizations. Rolta and Bharat Electronics Limited (BEL), India's leading public sector enterprise in the defence sector, have formed an exclusive consortium and have bid the largest Command & Control program estimated to be worth over Rs. 50,000 Crores ($8.3 B).
Rolta is one of the very few companies in the world and the only one in India to have developed and released highly sophisticated 64-bit ISR (Intelligence, Surveillance and Reconnaissance) software solutions to fully exploit the latest advances in satellite and aerial imaging, and cutting edge computing platforms. The Company's ISR solutions are deployed across hundreds of users in the Indian Army and Rolta continues to actively support and maintain its solutions.
The Company's war gaming solutions have gained even higher traction and its user base is expanding, with Rolta being in the process of being awarded a contract by the apex Indian war gaming agency.
Major HLS organizations continued to repose confidence in Rolta's offerings. Major police forces across the country (Maharashtra, Andhra Pradesh, Kerala) have awarded contracts for mission-critical communications, while the Company's traditional C2 & CCTNS solutions are being implemented at Mumbai Police, UP Police and police forces of various North Eastern states.
Geospatial and Engineering Information Solutions & Services
Geospatial enablement of mainstream applications is now being seen as an essential feature to fully exploit the power of Big Data Analytics and technologies such as Cloud computing, and Mobility. The Company's enviable standing in this segment, therefore, is a key differentiator even for Rolta's IT practices. Leading Analysts have recognized Rolta for its ability to provide Geospatially enabled ERP solutions. The Company won some very prestigious multi-million dollar contracts because it was able to uniquely demonstrate its ability to combine spatial and non-spatial attributes, especially with the help of its IP like Rolta Geospatial Fusion™, Rolta GeoAssets™, Rolta GeoCloud™ and Rolta OnPoint™.
Rolta has implemented many solutions for integration of spatial and business systems. For example, Rolta delivered a geo-ERP system to Bahrain's Ministry of Works that seamlessly integrated four distinct systems from Infor, IBM, Oracle and Esri using Rolta OnPoint™ to implement a geocentric Asset Management Solution, which is now being used by hundreds of users to view/query/report on transportation, drainage and building infrastructure in the country. For Saudi Arabia's GCS, its apex mapping agency, Rolta has built a sophisticated National Spatial Data Infrastructure web-portal by leveraging its IP to enable various stakeholders to collaboratively add maps/data to the GCS repository, or users, including citizens and contractors, to retrieve information to create BI dashboards atop of geodetic, topographic and/or hydrographic maps.
The Company has won multi-million dollar projects for establishing 3D digital models for Dubai, the Sultanate of Oman, the path-breaking $25 M project for Abu Dhabi, and recently another large contract in Saudi Arabia. With these significant wins, Rolta has established an enviable track-record for creating 3D City Models, and has developed a library of its own software tools, work-flows and specialized skills to effectively address this rapidly evolving multi-billion dollar market for e-governance and security.
Rolta offers services and solutions for the complete lifecycle to implement Engineering Information Management solutions by leveraging its unique combination of engineering know-how, IT expertise and IP to win multi-million dollar contracts, at times even in the face of competition from the major consulting companies. For example, the Company won a path-breaking project from Sadara, an alliance between the Saudi Arabian Oil Company and The Dow Chemical Company. The scope of work for this prestigious project, perhaps the largest of its kind, includes implementation and integration of 30 engineering applications to support all aspects of engineering work processes in all 26 plants of Sadara. The Company is now finalizing a multi-million dollar follow-on order for additional scope. This has opened a large market for the Company, and Rolta is working with several major companies to define the scope for similar upcoming projects.
Enterprise IT Consultancy, BI and Big Data Analytics
Rolta has established itself in the BI and Big Data Analytics space by leveraging its large repository of sophisticated IP, notably Rolta OneView™, and industry expertise. The Company has worked on numerous ambitious projects in all markets. For example, for a US Healthcare company, Rolta is implementing an enterprise-level BI solution which analyses operational, financial and product data to provide actionable insights. Rolta delivered a comprehensive solution to a Middle East company for upstream O&G operations covering parameters for operational and asset integrity, planning and maintenance effectiveness, to provide predictive risk analysis. Rolta developed a solution using Predictive Analytics for a Utility company to analyze historical parameters and predict future consumption and capacity utilization. Rolta has also won projects in North America and Dubai in the Transportation segment. For example, in Canada, an analytics solution to provide congestion analysis, network capacity planning, and asset maintenance is being deployed. Many companies around the world have engaged Rolta to define their strategies for enterprise-level BI and Big Data Analytics, which are expected to yield large orders for the Company.
Rolta's Enterprise IT consultancy continued to grow with several multi-million dollar projects, including multi-year contracts for Managed Services. For example, in a $5 M engagement, Rolta designed the infrastructure configuration for a global automotive supplier to support the upgrade of their SAP environment, with responsibility for ongoing managed services. In the BFSI sector, a major Bank engaged Rolta for effecting financial transformation by unifying ALM, Financials and Risk Management Systems, bringing together accounting, finance and risk data to comply with regulatory requirements. A path-breaking engagement was by Flambeau, a North American diversified manufacturing company to carry out planning, design and implementation of the latest Oracle Fusion-based Cloud-ERP suite. This was one of the first deployments in the world of Oracle's new technology. Oracle expects that 60% of its ERP deployments in the next couple of years will be on this platform, and is working closely with Rolta as its implementation partner. In India, Rolta is working on major "Rural Livelihood" projects for two States to build transactional and reporting systems for access at the village level. This track record positions Rolta well for similar World Bank supported projects that are expected to be rolled out by all States with average investment of about Rs. 10 Cr each.
About Rolta: Rolta is a leading provider of innovative IT solutions for many vertical segments, including Federal and State Governments, Defense, Homeland Security, Utilities, Oil & Gas, Financial Services, Manufacturing, Retail, and Healthcare. By uniquely combining its expertise in the IT, Engineering and Geospatial domains, Rolta develops exceptional solutions for these segments. The Company leverages its industry-specific know-how, rich repository of field-proven intellectual property that spans photogrammetry, image processing, geospatial applications, Business Intelligence, Big Data analytics, Cloud computing, and Software Defined Infrastructure for providing sophisticated enterprise-level integrated solutions. Rolta is a multinational organization headquartered in India. The Company operates from 40 locations worldwide through its subsidiaries, and has executed projects in over 45 countries. Rolta is listed on the Bombay Stock Exchange and National Stock Exchange. The Company's GDRs are listed on the Main Board of London Stock Exchange. The Company's 'Senior Notes' are listed on Singapore Stock Exchange.
Disclaimer: This press release includes statements that are not historical in nature and that may be characterized as "forward-looking statements", including those related to future financial and operating results, benefits and synergies of the Company's brands and strategies, future opportunities and the growth of the market for open source solutions. You should be aware that Rolta's actual results could differ materially from those contained in the forward-looking statements, which are based on current expectations of Rolta management and are subject to a number of risks and uncertainties, including, but not limited to, Rolta's ability to integrate acquired operations and employees, Rolta's success in executing its strategies, Rolta's ability to take a competitive position in the industry, business conditions and the general economy, market opportunities, potential new business strategies, competitive factors, sales and marketing execution, shifts in technologies or market demand, and any other factors. The Company may make additional written and oral forward-looking statements but do not undertake, and disclaim any obligation, to update them.
For additional information please visit http://www.rolta.com, or contact:
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SOURCE Rolta India Ltd