New Delhi, 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
March 31, 2016
March 31, 2015
FY 2015- 16 highlights:
NIIT Limited: Consolidated Results for FY 2015-16
Consolidated Financials (in Rs. Cr) for Year ended March 31, 2016
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".
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.
For media queries contact:
Vice President, Corporate Communications & Marketing, NIIT Limited
Ph: (Cell) +91 9910201085, (Dir) +91 124 4293041
Corporate Communications & Marketing, NIIT Limited
Ph: (Cell) +91 9999601154, (Dir) +91 124 4293042
Investors may contact:
Kapil Saurabh, NIIT Limited,
Ph (Cell) +91 9899117793, (Dir) +91 124 4293324
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