MUMBAI, September 14, 2016 /PRNewswire/ --
Rolta India Limited (Rolta), a leading provider of innovative IP-led IT solutions for many vertical segments, including Defence/HLS, today announced unaudited financial results for quarter ended June 30, 2016 (Q1 FY -17).
- Consolidated Revenue for Q1 FY-17 at Rs. 800.42 cr (Rs. 8 Billion) against Rs. 846.04 cr (Rs. 8.46 Billion) in Q4 FY-16, registering a Q-o-Q decline of 5.4%.
- Consolidated EBITDA for Q1 FY-17 at Rs. 217.91 cr (Rs. 2.18 Billion) against Rs. 162.55 cr (Rs. 1.63 Billion) in Q4 FY-16, registering a Q-o-Q growth of 34.1%.
- Consolidated profit before tax for Q1 FY-17 at Rs. 27.29 cr (Rs. 0.27 Billion) against Rs. 17.58 cr (Rs. 0.176 Billion) in Q4 FY-16, registering a Q-o-Q growth of 55.1%.
Note: The financial result for Q1 of FY 17 and Q4 of FY 16 are not strictly comparable as Q4 FY16 results are as per Indian GAP and Q1 FY 17 results are as per INDAS.
Mr. K. K. Singh, Chairman and Managing Director said, "By bringing together a rare combination of rich industry specific domain expertise, deep IT skills, extensive geospatial and engineering knowhow and world-class Rolta-IP led solutions, we are able to deliver enhanced value to our customers, in their journey of Digital Transformation, by providing business outcomes, rather than just automating business transactions. This differentiated and holistic approach has given us a competitive edge and the ability to withstand challenging economic pressures while establishing the Company as a resilient global IT Solutions provider."
The Company has appointed three new independent directors to the board of directors. Each of them are eminent members of society and bring decades of rich experience having reached the pinnacle in their respective fields of banking, law and defence. With these appointments the Rolta Board of Directors now constitutes 8 members with 4 independent directors and 4 full time directors led by Mr. K. K. Singh who heads the board as Executive Chairman.
Defence and Homeland Security
Rolta continues to maintain its pre-eminent position as a provider of Indigenous IP based Command, Control, Intelligence, Surveillance and Reconnaissance (C2ISR) solutions for the Indian Armed Forces. Deployed at vital military sites, these high-tech systems act as a force-multiplier by facilitating 'Surveillance', 'Intelligence Acquisition' and Decision Making. Indian Defence procurements are made as per Defence Procurement Procedures (DPP) and in this financial year they have introduced specific provisions that will act as a stimulus for the domestic defence industry to accelerate its growth. In order to promote indigenous design and development, effective April 2016 the DPP 2016 has introduced the 'Buy Indigenously Designed, Developed and Manufactured' (IDDM) category and accorded it the top most priority. This is in addition to the 'Make India' categorization that was implemented earlier. This introduction of 'Buy(Indian-IDDM)' category is expected to be of immense advantage to Rolta, with the Company having continuously invested in designing and developing a rich indigenous repository of 100s of IPRs for Indian Defence.
BMS is a large value, prestigious "Make India" project of the Indian Army, meant to deliver Command & Control capabilities to the fighting echelons operating at forward edge of the battlefield which will usher in Digital Transformation of the Indian Army's battlefield operations. This system, at an estimated expenditure of about Rs. 70,000 crores, is expected to be deployed across the Army to greatly enhance the operational efficiency at the forward edge of the Battlefield at Battalion and Combat groups levels. The exclusive consortium of Bharat Electronics Limited (BEL) and Rolta are working as a Development Agency (DA) for this largest Command & Control program. The project is progressing on track.
In the Intelligence, Surveillance and Reconnaissance (ISR) area, the Company's field-proven solutions have become the standard for Indian Defence with successful deployments at 100s of key military sites. The Company recently won two prestigious orders from Indian National Level Remote Sensing Establishments. These solutions incorporating Rolta IP will enable the Indian Armed Forces and data processing agencies an all-weather, day and night reconnaissance capability using cutting-edge Radargrammetry software for processing stereo SAR data. Rolta maintains its leading position in the Security market and recently won sizeable contracts from Police forces in Maharashtra and Southern India for mission critical communications equipment.
Geospatial and Engineering Information Systems
Having deployed hundreds of geospatial enabled Smart City Solutions in leading cities across the world, Rolta Smart City Solutions continues to gain momentum across the globe including India. For example, one of the largest gas utilities company in India have entrusted Rolta for their transformational Smart Utility project for City Gas distribution leveraging Rolta's rich IPs. This visionary and ambitious project worth US $ 4.3M involves design, development and management of a comprehensive multi-site Cloud enabled solution with seamless integration of GIS, Mobility, Smart Meter Data Management & Analytics, ERP and CRM to automate the entire customer engagement value chain. The state-of-the-art citizen engagement portal with multi-channel digital online services aims to onboard, grow and serve customers. Starting with the roll out in one city they have plans of expanding the solution to around half a dozen cities in India.
Rolta's in-depth experience of building Asset Information Management (AIM) systems of Engineering assets continues to bring tremendous opportunities. Organisations require effective Asset Lifecycle Management for both strategic planning as well as tactical maintenance. In line with that, Rolta won an additional US $ 4.8M award for Asset Information and Data Management from one of the largest green field Petrochemicals complex in the world, after successfully completing the 'Production Site Acceptance Testing' of a multi-year, multi-million dollar project. This new engagement is for structuring, organising, managing their vast amounts of asset data into a rich repository. Such repositories are vital for the day to day operations of the plant and serve as a foundation for Analytics.
Enterprise IT Consulting Services
Customers are increasingly looking for a single vendor capable of designing, delivering, optimizing and subsequently managing their Enterprise wide solutions. Rolta's ability to deliver end-to-end solutions for its customers has met with significant success and traction globally. Recently, a large regional hospital system in the North America, managing multiple hospitals awarded a US $ 3.9M contract for designing and implementing a private cloud environment. Similarly, a large global health care distribution company signed a US $ 3.2M contract with Rolta to address their mobility requirements and modernize their mobile device infrastructure to ensure timely access to critical information. In India, a metro rail network organisation recently chose Rolta for its end-to-end enterprise IT capability to design, supply, implement, optimize and subsequently manage their ERP solution together with its highly resilient infrastructure.
Rolta continues to expand its range of managed services offerings to grow its annuity business while continuing to deliver under stringent SLAs. A global cloud based SaaS provider again chose Rolta to renew its US $ 7.7M managed services contract which clearly demonstrates their faith in Rolta's delivery capabilities.
Business Intelligence and Big Data Analytics
During the quarter Rolta's flagship product, saw a major release for Rolta OneView™ with version 7.0 being released to customers. This release of Rolta OneView™ 7.0 brings several key enhancements including Cloud Security, Industrial IoT and Big Data Fusion, embedded Data Science Workbench and advance self-service analytics, real-time analytics for condition based monitoring and Smart Meter analytics to name just a few.
As a result, the Company gained significant traction in BI & Big Data Analytics Digital Solutions business with new opportunities and major extension of scope for existing engagements. This is clearly illustrated by the following successful engagements during the quarter. After successful roll out of Rolta OneView™ in multiple units and refineries of an Oil & Gas company in North America, Rolta won an additional order to extend the solution to other refineries within the organisation. Similarly, for another multi-billion dollar Oil & Gas conglomerate in the USA, the Company is delivering a Rolta OneView™ based Big Data Analytics solution for their Maintenance, Reliability and Safety. In Asia Pacific, an integrated Oil & Gas multinational ranked among the largest corporations on Fortune Global 500 has chosen Rolta for their Operational Excellence Management Solution. While, one of the largest petrochemical companies in Middle East embarking on an enterprise BI program chose Rolta OneView™ for real-time actionable insights.
Rolta SmartMigrate™, a unique automated solution for migration and consolidation of databases and BI reporting tools, plays a vital role in accelerating BI and Big Data Analytics maturity journey. A few successful engagements during the quarter include, one of the world's premier bio-pharmaceutical companies, selecting Rolta based on its unique automated platform to convert several thousand legacy reports and consolidate them onto a single BI platform of their choice. An American Fortune 500 corporation that designs, manufactures, and distributes engines and generators, choose Rolta for effecting their strategic consolidation in their BI and Analytics landscape. A Software Manufacturer, addressing the Oil & Gas market with solutions for production operations, finance, accounting, land and reserves management engaged Rolta to migrate their underlying Oracle database to SAP HANA in order to leverage its in memory analytics capabilities. These innovative products have now resulted in Rolta's BI teams being actively engaged in various stages of the BI Journey at more than 100 organisations globally.
About Rolta: Rolta is a leading provider of innovative IP-led IT solutions for many vertical segments, including Federal and State Governments, Utilities, Oil & Gas, Petrochemicals, Financial Services, Manufacturing, Retail, and Healthcare. Rolta is recognized for its extensive portfolio of solutions based on field-proven Rolta IP tailored for Indian Defence and Homeland Security. By uniquely combining its expertise in the IT, Engineering and Geospatial domains, Rolta develops State-of-the-Art Digital Solutions incorporating rich Rolta IP in the areas of Cloud, Mobility, IoT, BI and Big Data Analytics. Rolta is a multinational organization headquartered in India and the Company's shares have been publicly traded for more than 25 years in India. Rolta GDRs are listed on the London Stock Exchange for 10+ years.
For additional information please visit www.rolta.com, or contact:
President – International Operations
Tel: +1 (678) 942 5000
Lt. Gen K.T. Parnaik
JMD – Defense & Security Business
Member of the Board
Tel: +91 (22) 2926 6666
JMD – Global Products & Technology Solutions
Member of the Board
Tel: +91 (22) 2926 6666
Director – Corporate Affairs & CFO
Member of the Board
Tel: +91 (22) 2926 6666
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SOURCE Rolta India Limited