·
Q4 Revenue of Rs. 238.9 Cr, up 7% YoY;
and Full Year Revenue of Rs. 1006.9 Cr, up 5% YoY
·
Corporate Learning Group (CLG) grows 18%
YoY in Q4; up 16% for FY 2015-16
·
Skills & Careers Group (SNC) back
to growth at 1% and positive EBITDA at 2% for FY15-16
·
Launches strategic focus on ‘Digital
Transformation’ training, with ‘DigiNxt’ series
·
NIIT ranked as ‘India’s Most Trusted
Training Brand’ for 4th year in a row
Mumbai, May
10, 2016: NIIT Limited, a global leader
in skills and talent development, today reported
its results for the fourth quarter ending March 31, 2016.
Quarter 4 highlights:
NIIT Limited: Consolidated Results for Q4
Consolidated Financials (in Rs. Cr) for
Quarter ended March 31, 2016
|
|||
Quarter ended
March 31, 2016
|
Quarter ended
March 31, 2015
|
YoY growth
|
|
Net Revenue
|
238.9
|
223.5
|
+7%
|
EBITDA
|
13.2
|
(5.8)
|
+19 Cr
|
EBITDA%
|
6%
|
(3%)
|
+815 bps
|
Profit After Tax
|
17.8
|
(151.2)
|
+169 Cr
|
FY 2015- 16 highlights:
NIIT Limited: Consolidated Results for FY 2015-16
Consolidated Financials (in Rs. Cr) for Year
ended March 31, 2016
|
|||
Year ended
March 31, 2016
|
Year ended
March 31, 2015
|
YoY growth
|
|
Net Revenue
|
1006.9
|
957.4
|
+5%
|
EBITDA
|
71.2
|
30.8
|
+131%
|
EBITDA%
|
7%
|
3%
|
+385 bps
|
Profit After Tax
|
67.2
|
(138.5)
|
+205.8 Cr
|
During the
quarter, the company recorded a Net Revenue of Rs. 238.9 Cr, up 7% YoY and a PAT
of Rs. 17.8 Cr. For the full
year, the Company’s Net Revenue stood at Rs. 1006.9 Cr, up 5% YoY and PAT was recorded
at Rs. 67.2 Cr.
The results
were taken on record at the meeting of the Board of Directors here today.
Revolutionizing the IT training and education
landscape once again, during the quarter
NIIT ventured into Digital
Transformation to offer pioneering programs to young aspirants who wish to
enter the digital services industry, as well as to IT professionals wishing to urgently
reskill themselves to remain relevant in the new digital world. Under the DigiNxt portfolio, NIIT is rapidly
shifting its retail consumer IT education and training portfolio towards
futuristic technologies like Java Enterprise Apps with Dev Ops, Big Data, Robotics,
IoT, Virtual Reality, Cyber-Security, Artificial Intelligence and Machine
Learning, etc.
Through this initiative, NIIT is re-aligning
the focus of the Skills & Career Group to the dramatically changing
future-skill-set requirements of the industry, so as to create the urgently
needed job-ready talent pool for the digital era, and help India maintain and
widen its leadership as the world’s IT innovation & services destination.
NIIT already has an eager waiting list of major IT industry recruiters for
students of these exciting new programs.
Earlier during the year, NIIT
launched StackRouteTM - a
pioneering initiative to create Full-stack
programmers for the industry. The initiative received overwhelming response
from start-ups and major IT companies alike, leading to over-subscription of
multiple batches. StackRouteTM has strong acceptance as a strategic program
to help IT corporate majors transform their workforce to be become
Digital-Skills ready.
Speaking on
the company’s performance during the quarter, Mr. Rahul Patwardhan, Chief Executive Officer, NIIT Limited said, “The
Business Transformation program has delivered to plan and ensured turnaround of
our Skills & Careers Group (SNC) business back to growth and profitability.
With its keen understanding of the market, NIIT has now completely re-aligned
SNC business to the critical Digital transformation skills needs of the IT
Industry. The Corporate Learning business has delivered rock steady consistent growth
and profitability.”
“Over the
year, each quarter we have delivered steadily accelerating top line YoY growth.
Further, the revenue from all NIIT Go-Forward businesses, which excludes geographies
and businesses that we had defocused and exited, grew by a robust 11% during
the year, thus indicating strong demand and an healthy growth momentum for our
focused strategy”, added Mr. Patwardhan.
Corporate
Learning Group (CLG) recorded revenues of Rs. 136 Cr, up 18% YoY during
Q4. It added four new MTS customers in Q4, taking the
total number of MTS customers to 31, with a Revenue Visibility of USD 200 Mn
for CLG.
The Managed Training Services (MTS) portfolio continued to gain traction,
contributing 90% to overall CLG revenue in FY16. Order intake of FY16 was up
28% YoY and the FY16 closing order book grew 27%.
In the year, NIIT announced the establishment of a new facility in
Bergen, Norway to further invest in the rapid growth of its business in Europe.
NIIT now has three established centers in Europe – Dublin, Bergen, and London,
with a diverse mix of pan-European staff from UK, Ireland, Norway, Netherlands,
Romania, and Germany.
Mr. Sapnesh Lalla, Group
President, Corporate Learning Group, NIIT Limited said, “During
the year, in spite of
softness in the oil sector, we
focused on growing our existing clients and investing in newer sectors like
BFSI and Life Sciences to drive steady consistent growth. Significant progress
on the productivity program was also achieved, leading to improved EBITDA which
was re-invested in building sales capacity and delivery platforms. Our funnel
today is healthy. We have also strengthened our learning advisory services
capability.”
Skills
and Careers Group (SNC) recorded net revenue of Rs. 72.8 Cr
during the quarter. Beyond IT revenue grew strongly in FY 2015-16 contributing 40%
to SCG revenue, compared to 33% in FY’15.
With a sharp focus on Educational Technology, NIIT
instituted the Online Learning Business during the quarter. Led by Mr. Udai Singh, Chief Strategy Officer,
this unit will drive NIIT’s own digital transformation through strategic
initiatives like NIIT.tv, as well as NIIT’s future plan to launch an
omni-channel, multi-modal learning portal which will integrate all of NIIT’s
SNC business target segments, product portfolio & delivery channels.
In a
significant development NIIT.tv – a
disruptive innovation by NIIT received phenomenal response during the year,
registering over 2,34,000 students from more than 1,980 cities, and over 160
countries. In the initial phase, around 20 skill-based training programs in IT,
Banking and Finance, Retail and Management was made available, which was scaled
up to more than 5,500 "live" as well as "on-demand" courses.
Within this short period, NIIT.tv also registered one of the highest customer
engagement rates, compared to its global and local industry peers. Further
strengthening its position, NIIT.tv entered into a strategic partnership with
SASTRA University to help students pursuing BTech and MTech degree programs.
Sessions delivered by expert faculty members of the University will be
broadcast on NIIT.tv, an internet based learning portal. Over 45,000 students
took advantage of NIIT.tv CBSE online preparation courses for 10th and 12th
board exams this quarter.
Speaking on
the company’s strategy to strengthen Skills and Careers Group, Mr. Prakash Menon, President, Global
Skills and Careers Group, said, “NIIT
has played a pioneering role in IT training in India by training 35 Mn people
in IT over the last 35 years. With a keen
understanding of the changing skills requirement of the industry, we are now
focusing on the Digital Transformation needs by completely re-aligning the
Skills and Career Group to the changing future skill-sets requirement of the
industry, to help create job-ready talent pool for the fast evolving global
economy”.
During the year, NIIT also entered into
strategic partnerships with HP to offer Post Graduate Certificate Program in
Software Testing, and with MetaScale to support India’s Analytics needs. Strengthening NIIT’s EdTech
credentials, the company rolled out the revolutionary Cloud CampusTM
in China. As part of this rollout in China, NIIT has
extended the break-through Cloud Campus platform to support learners in
Mandarin.
NIIT Institute for Finance, Banking and
Insurance (IFBI), India's largest Banking training institute, launched a two-month
Certificate Program in Global Finance and Accounting: 'FinVantage' - a
comprehensive fast track training program in Accounts Payable and Accounts
Receivable. NIIT IFBI also launched the 1st batch for Certificate Program in
Banking Sales and Marketing (CPBSM) for the Catholic Syrian Bank (CSB) during
the year.
MindChampion Learning Systems Limited
(MLSL) registered net revenue of Rs. 30.1 Crs
during the quarter; added 122 schools to its customer base; and made further
progress on moving to an asset-lighter model and improving sales productivity. NIIT hived off its K-12 School Learning business into a
Wholly Owned Subsidiary Company called - MindChampion Learning Systems Limited
and appointed Mr. Gavin Dabreo as the CEO. This was done with the view of
inviting strategic investors and partners, as a separate entity would
effectively cater to the independent growth and future expansion plans of the
school learning business.
Speaking on the future business strategies, Mr. Gavin Dabreo, CEO of MLSL said, “We are focussed on taking MLSL to the next level of growth
through strategic tie-ups with private schools. We also plan to increase the
depth of our product portfolio, thereby helping students improve their academic
outcomes. We have built our business vison for the future, and will now be
working towards bringing on board suitable strategic investors”.
Other
Highlights:
·
NIIT ranked as ‘India’s Most Trusted Training Brand’ for 4th year in a
row, by Brand Trust Advisory
·
NIIT named as the
‘Most Respected Education Company’, by
Business world magazine
·
NIIT ranked among TrainingIndustry.com’s 2016 Top 20
Companies in Training Outsourcing, for the ninth consecutive year
·
NIIT named to TrainingIndustry.com’s Top 20 Gamification
Companies List
·
NIIT receives ‘Franchisor of the Year Award’ - under the category Vocational &
Skill Development Training Institute at Franchise
India Awards 2015
·
NIIT named to TrainingIndustry.com’s Top 20 IT Training
Companies List
·
NIIT conducts
India’s largest National Industry
Targeted Aptitude Test (NITAT) on 13th February, 2016
·
During the year, NIIT established European Delivery Centre in Dublin
creating 110 jobs. The development was supported by the Department of Jobs,
Enterprise and Innovation through IDA (Industrial
Development Agency) Ireland.
·
During
the year, NIIT was conferred with two prestigious awards at 'The 5th
Indian Education Awards 2015' organized by Franchise India. The
company won the coveted Best Vocational Institute for Banking, Finance
& Insurance award for NIIT Institute of Finance Banking &
Insurance Training Ltd (IFBI). The prestigious Best Innovative
Learning Tool award was presented to NIIT Nguru MathLab Plus.
About NIIT
Established in 1981, NIIT Limited, a global
leader in Skills and Talent Development, offers multi-disciplinary learning
management and training delivery solutions to corporations, institutions, and
individuals in over 40 countries. NIIT has three main lines of business across
the globe- Corporate Learning Group, Skills and Careers Group, and School
Learning Group.
NIIT's Corporate Learning
Group (CLG) offers
Managed Training Services (MTS) to market-leading companies in North America,
Europe, Asia, and Oceania. The comprehensive suite of Managed Training Services
includes custom Curriculum Design and Content Development, Learning
Administration, Learning Delivery, Strategic Sourcing, Learning Technology, and
Advisory Services.
With a team of some of the world's finest
learning professionals, NIIT is dedicated to helping customers increase the
business value of learning and development (L&D). Built on the sound
principles of 'Running Training like a Business', NIIT's Managed Training
Services and best-in-class training processes enable customers to align
business goals with L&D, reduce costs, realise measurable value, benefit
from rock-solid operations, and increase business impact.
NIIT's Skills and Careers
Group (SNC) delivers
a diverse range of learning and talent development programs to millions of
individual and corporate learners in areas including Banking, Finance & Insurance,
Retail Sales Enablement, Management Education, Multi-Sectoral Vocational
Skills, Digital Media Marketing, and programs in digital transformation
technologies. These programs are delivered through a hybrid combination of the
'Cloud Campus' online platform, satellite-based 'Synchronous Learning
Technology' and a physical network of hundreds of learning centers in India,
China, and select markets in Asia & Africa. The flagship multi-disciplinary
course offerings include the industry-endorsed GNIIT – Digital Transformation
program and a set of DigiNxt Programs
for students from different streams, apart from a wide range of specialist
short duration programs.
To further strengthen its SNC portfolio in
India, NIIT has tied up with industry majors like ICICI Bank for NIIT Institute
of Finance Banking Insurance& Training Limited, IFBI; leading business
schools in India for NIIT Imperia; Genpact for NIIT Uniqua; and a joint venture
with NSDC for NIIT YuvaJyoti Limited. Besides this, for the China market, NIIT
has tied up with governments and software parks in Guian, Chongqing, Wuxi,
Suzhou, Changzhou, Zhangjiagang, Haikou and Dafeng, for state-of-the-art
public-private partnership centres.
Recently NIIT has introduced - StackRouteTM, an initiative
to produce the world's best full stack programmers. StackRouteTM aims
to create multi-skilled, and multi-disciplinary programmers who can become
key members of high-performance teams in top notch product
engineering companies, start-ups, and IT firms. Further the company has
also launched NIIT.tv – a digital learning initiative that brings
skilling from NIIT classrooms to every digitally connected Indian, for free, at
any time and place of their choice. A disruptive innovation by NIIT for the
education space. NIIT.tv will deliver for the very first time, skill-based live
courses as well as on-demand courses to the masses, through the digital medium.
As NIIT's wholly owned subsidiary for its
K-12 school learning initiative - MindChampion Learning Systems
Limited, is
providing technology based learning to around 2,000 private schools across
India, reaching out to more than a million students. The futuristic NIIT nGuru
range of learning solutions for schools comprises Interactive Classrooms with
digital content, technology-driven Math Lab, IT Wizard programs and Quick
School - an Education Resource Planning software.
As the Most Trusted Training Brand in India
for 4th year
in a row (Brand Trust Report, 2016), NIIT's learning and talent development
solutions, continue to receive widespread recognition globally. NIIT has been
named among the Top 20 Training Outsourcing Companies for the past nine
consecutive years by Training Industry, Inc. USA. Further, leading Indian ICT
journal Dataquest has conferred upon NIIT the 'Top Training Company' award
successively for the past 20 years, since the inception of this category. NIIT
has also been featured as the 'Most Respected Education Company'- 2016 by
leading financial magazine, Business World.