Q1 (April-June 2023)
Insight@NIIT:Vol 59
Investor Communication
Contents
 
   
   
     
 
   
Contentss
 
 
Q1 Results
     
     
 
   
NIIT Limited announces Q1 FY24 (April-June 2023) results
 
 

 

 

 

 

 

 

 

 

 

 

 

 


Rajendra S Pawar 
Chairman and Co-Founder, NIIT Group 
 

�The successful demerger enables NIIT to dedicate its focus on becoming talent builder for the nation. AI and other disruptive technologies are leading to massive transformation across industries. We are experiencing an increased demand for deep skilling in new age skills including AI, Digital Architect, ER&D, and Cybersecurity, among others.�

 

 

 

 


Vijay K Thadani
Vice Chairman &
Managing Director,
NIIT Limited
 

"Despite the challenging environment, we have arrested the decline in Q1 and grew on a QoQ basis. We expect to see strong growth in Q2 and the rest of the year, driven by the significant mandates received for training especially in BFSI and advanced technology programs. Our robust balance sheet enables us to invest in both organic and inorganic initiatives to take advantage of the opportunities.�

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q1 Revenue at Rs. 625 million, grows 4% QoQ
Profit After Tax of Rs. 22 million vs loss of Rs. 94 million LQ; EPS at Rs 0.2
Completed acquisition of balance 10% holding in RPS Consulting
 
 

NIIT Limited announced its financial results for the first quarter ended June 30, 2023.

The company recorded Net Revenue of Rs. 625 million, up 4% QoQ and down 33% YoY. EBITDA was Rs. (64) million as compared to Rs. (95) million in Q4 FY23 and Rs. 1 million in Q1 FY23. Profit After Tax was Rs. 22 million as compared to Rs. (94) million in Q4 FY23 and Rs. (65) million in Q1 FY23.

The results were taken on record at the meeting of the Board of Directors held on 11th August 2023.

During the quarter, the company completed the demerger of its Corporate Learning Business to NIIT Learning Systems Limited. Consequent to the demerger, each shareholder of NIIT Limited has been allotted one share of NIIT Learning Systems Limited for every share of NIIT Limited held by them on the Record Date (June 8, 2023). NIIT Learning Systems Limited marked its debut on Indian stock exchanges through its listing on BSE and NSE on August 8, 2023.

 

During the quarter, the company received significant mandates from top private sector banks, Indian enterprises and technology firms to train several thousand employees over the next 12-18 months. A number of our top GCC customers have indicated acceleration in consumption over the remaining year. 
NIIT-StackRoute partnered with two of the top 5 IT Services firms for training in Generative AI programs.
NIIT has partnered with Axis Bank to hire and train fresh graduates for the role of Branch Relationship Officer. A Post Graduate Diploma will be awarded to the graduates by NIIT University. Upon successful completion of the program, these graduates are absorbed in the Assistant Manager grade by the Bank.
The company partnered with one of the largest private banks in the country to provide training to around 10,000 new hires.
 
RPS Consulting, an NIIT subsidiary, continues to be recognized by its OEM partners for its quality of training and the strong impact it creates for its customers.
Recognized as a finalist for 2023 Microsoft partner of the year award.
Recognized by Redhat as one of their 3 premium partners in India.
Recognized by AWS for “Customer Obsession” during AWS IGNITE event.
 
During the quarter, NIIT acquired the balance 10% shareholding in RPS Consulting. With this, RPS Consulting now becomes a wholly owned subsidiary of NIIT.
 
Other Highlights:
During the quarter NIIT-StackRoute conducted the first edition of Digital Architect Conclave 2023 which provided a unique opportunity for digital architects across organizations to meet, exchange knowledge and experiences, and interact with experts and thought leaders to gain insights and develop perspectives.
NIIT Limited has been recognized as a Best Education Brand of 2023 at the 6th Edition of The Economic Times Best Education Brands awards and summit, for its commitment and contribution towards strengthening the upskilling and reskilling landscape through its innovative learning solutions.
 
     
     
 
   
NIIT Learning Systems Limited, A Global Leader in Managed Training Services, Lists on BSE/NSE
 
 

 


Rajendra Singh Pawar
Co-founder NIIT and Chairperson NIIT Learning Systems Limited
 

�We are proud and thrilled to present our newly listed entity � �NIIT MTS�. The Managed Training Services Business has grown to be ranked in the Top 5, globally in the Learning Outsourcing space. The global corporate training market is currently underpenetrated and NIIT MTS has an opportunity to become a leader in this space.�

 

 


Vijay K Thadani
Co-founder NIIT and Vice Chairman & Managing Director, NIIT Learning Systems Limited
 

�NIIT Managed Training Services enjoys the trust of over 80 Fortune 1000 Companies as key customers. Most of our customers are leaders in their respective industries. Our comprehensive, high impact managed learning solutions weave together the best of learning theory, technology, operations, and services to enable a thriving workforce. This unique, differentiated, and compelling moat makes the company a sustainable value creator.�

 

 

 

 

 

 

 

 

NIIT Learning Systems Limited (NIIT MTS), which offers Managed Training Services to Fortune 1000 and Global 500 corporations across North America and Europe, marked its debut on Indian stock exchanges through its listing on BSE and NSE. The Company held its Listing Ceremony at BSE today, including the ceremonial Bell Ringing to mark the start of trading.

The momentous occasion was marked by the presence of Rajendra Singh Pawar (Co-founder NIIT and Chairperson, NIIT Learning Systems Limited), Vijay K. Thadani (Co-founder NIIT and Vice Chairman & Managing Director, NIIT Learning Systems Limited), P Rajendran (Co-founder & Joint Managing Director, NIIT Limited) and Sapnesh Lalla (Executive Director & CEO, NIIT Learning Systems Limited). The listing ceremony was also attended by the management team, marquee customers, investors, well-wishers, and employees of the company.

NIIT MTS operates NIIT�s Corporate Learning Business (CLG) which has been demerged from NIIT Limited to NIIT Learning Systems Limited upon the approval of the Composite Scheme of Arrangement. The demerger became effective on May 24, 2023, post approval from various stakeholders and the NCLT. Consequent to the demerger, each shareholder of NIIT Limited has been allotted one share of NIIT Learning Systems Limited for each share of NIIT Limited held by them on the Record Date, which was fixed as June 8, 2023.

This demerger recognizes the distinct opportunities, geographies and market dynamics, customer segments, product offerings, and growth trajectories of the Managed Training Services business. It will provide the business sharper focus, simplified decision-making, focused allocation of growth capital and enhanced agility.

In FY23, the company recorded revenue at INR 13,618 million, up 20% YoY with EBITDA at INR 3,154 million at an operating margin of 23%. PAT was at INR 1,922 million with an EPS of 14.3. ROCE was at 49.6% and ROE at 29.2%. NIIT MTS ended the year with a customer tally of 80 and Revenue Visibility of USD 363 million.

 
     
     
 
   
RPS Consulting Private Limited recognized as a finalist of 2023 Microsoft Learning Partner of the Year
 
 

 

 

 

 

 

 

 

 

 


Prasad Balakrishnan
Director & CEO of RPS Consulting, Learning
Systems Limited
 

an NIIT Limited subsidiary, said “As a Microsoft partner, we have been providing an extensive range of bespoke Microsoft training and certification courses across India and globe. We truly appreciate Microsoft’s recognition of our efforts in partner innovation using Microsoft technology. The award is a testament to our partnership with Microsoft in powering learning innovations for our joint customers.”

 

 

 

 

 

 

 

 

RPS Consulting Private Limited, an NIIT Limited subsidiary, announced it has been recognized as a finalist of 2023 Microsoft Learning Partner of the Year Award. The company was honored among a global field of top Microsoft partners for demonstrating excellence in innovation and implementation of customer solutions based on Microsoft technology.

The Microsoft Partner of the Year Awards recognize Microsoft partners that have developed and delivered outstanding Microsoft-based applications, services, and devices during the past year. These awards were classified in various categories, with honorees chosen from a set of more than 4,200 submitted nominations from more than 100 countries worldwide. RPS Consulting is honored with this recognition for providing outstanding solutions and services in Learning Category. 

“Congratulations to the winners and finalists of the 2023 Microsoft Partner of the Year Awards!” said Nicole Dezen, Chief Partner Officer and Corporate Vice President of Global Partner Solutions at Microsoft. “The innovative new solutions and services that positively impact customers and enable digital transformation from this year's winners demonstrate the best of what’s possible with the Microsoft Cloud.”  

“It is indeed a tremendous achievement for RPS Consulting to have been selected as a Finalist from over 4200 nominations from 106 countries/regions, an increase over previous years. We are thankful to Microsoft stakeholders and to our customers on this journey.” said Francis Jacob - President & Head of Business of RPS Consulting.

RPS Consulting have a 1200+ strong pool of instructors with varied competencies, who not only impart training but ensure that teams are job or project ready. While focused on customer needs, RPS Consulting brings value to enterprises by using a combination of strategic partnerships, experienced subject matter experts and highly adaptable delivery methodologies.

“We are happy to be receiving this award and we thank Microsoft for helping us in the way we look at market opportunities. We have been mindful of aligning our business to Microsoft’s goals and priorities – this has been a mantra for our success. We have invested a considerable amount of time and effort to build our capabilities around Microsoft technologies.” said Hari Shankar PR Head – Alliance & Partnership of RPS Consulting.

The Microsoft Partner of the Year Awards are announced annually prior to the company’s global partner conference, Microsoft Inspire, which took place on July 18-19, 2023.

Additional details on the 2023 awards are available on the Microsoft Partner blog: The complete list of categories, winners and finalists can be found at https://partner.microsoft.com/en-US/inspire/awards/winners

 
     
     
 
   
NIIT Limited Recognized as a "Best Education Brand of 2023" at The Economic Times Best Education Brands Awards
 
 

 

 

 

 

 

 

 

 

 


Pradeep Narayanan
President, NIIT Digital and Growth Initiatives, NIIT Limited
 

�At NIIT, we remain committed to providing innovative new-age skilling solutions to narrow the skills-demand gap faced by various industries.�

 

- This prestigious recognition reflects NIIT's cutting edge learning solution offerings for corporates and individuals

NIIT Limited has been recognized as a Best Education Brand of 2023 at the 6th Edition of The Economic Times Best Education Brands awards and summit. This prestigious recognition has been awarded to NIIT for its commitment and contribution towards strengthening the upskilling and reskilling landscape through its innovative learning solutions. The award was received by Pradeep Narayanan, President, NIIT Digital and Growth Initiatives, NIIT Limited during the ceremony held in Delhi.

NIIT Ltd. has been delivering a diverse range of learning and talent development programs to millions of individual and corporate learners in futuristic domains through its various businesses for more than 4 decades. Through its robust Digital platform, NIIT Digital enables distinctive learning outcomes for corporate and individual learners seamlessly and provides a digital environment for improving learning effectiveness and efficiency.

The assessment for the Best Education Brands 2023 recognition has been made based on multiple parameters including innovation, infrastructure, student-to-faculty, and pedagogical techniques among others.

NIIT has been recognized with several prestigious awards since its early days. The company has also been honoured with the 'Top Training Company' award by Dataquest successively for 20 years. It has been named among the Top 20 Training Outsourcing Companies globally for the 15 consecutive years by Training Industry, Inc. USA. In 2020, NIIT was featured as the only company in Educational Services Industry, in the Fortune India 500 list 2020. In 2021, NIIT has earned 51 coveted Brandon Hall Group HCM Excellence awards in various categories including Corporate Initiatives, Sales Performance, Workforce Management and Technology. Further, the Associated Chambers of Commerce & Industry of India (ASSOCHAM) recognised NIIT Digital as the Best E-Learning Platform in 2022. NIIT has also bagged the �Institutions with excellent Training and Placements� award from BW Education and the 'Transformational platform for professional learning in new-age technologies' by Dataquest in 2022.

The 6th Edition of The Economic Times Best Education Brands is a platform created to recognize brands who have made notable impact on the education sector. This initiative provides an opportunity to stalwarts from the education sector to come together, exchange ideas and discuss the trends that will help take the sector to the next level.

 
 
     
     
 
   
NIIT Launches Career Catalyst Programs to Equip Youth for Success in Competitive Job Market
 
 

 

- The programs are designed to provide practical application of skills on real business challenges to equip recent high school graduates with cutting-edge skills

NIIT Ltd introduced a new set of programs for learners who have just completed their school education. The programs are aimed at providing the learners with an early head start in career exploration and skill development in their desired fields. 

The programs are named Career Catalyst Programs and consists of the Java Foundation Program and Data Science Foundation Program, both carefully curated by industry experts. These six-week online courses are designed to equip recent high school graduates with cutting-edge skills essential for launching their careers and outshining their peers. Eligibility for the programs is limited to those who have successfully completed their 12th-grade studies.

The programs are designed to provide practical application of skills on real business challenges to prepare the learners for the opportunities and challenges they will face later in their further education or future job roles in the industry. As post 12th, students are relatively free, these programs can be a great option to leverage their free time and prepare early for their dream career. In a world where the competition is getting tougher day by day, starting early preparation and gaining relevant skills and insights could be one of the best decisions for securing a glorious future.

Click below links for program details
Data Analytics Foundation Program: https://www.niit.com/india/ug-programs/data-analyst-foundation
Java Developer Foundation Program: https://www.niit.com/india/ug-programs/java-foundation
 
     
         
   
News@NIIT
   
 
August
NIIT Learning System on track to achieve five-year target of 20% growth and 20% margin: Vijay Thadani_ Economic Times_ August 2023
https://economictimes.indiatimes.com/markets/expert-view/niit-learning-system-on-track-to-achieve-five-year-target-of-20-growth-and-20-margin-vijay-thadani/articleshow/102525877.cms
RPS Consulting Private Limited recognized as a Finalist of 2023 Microsoft Learning Partner of the Year_ANI_ August 2023
https://www.aninews.in/news/business/business/rps-consulting-private-limited-recognized-as-a-finalist-of-2023-microsoft-learning-partner-of-the-year20230801170935/
July

From 1980 to 2047�Time Lapse from NIIT�s lens_ Data Quest_ July 2023
https://www.dqindia.com/from-1980-to-2047-time-lapse-from-niits-lens/

June
NIIT Limited Recognized as a Best Education Brand of 2023 at The Economic Times Best Education Brands Awards_ ANI_ June 2023
https://www.aninews.in/news/business/business/niit-limited-recognized-as-a-best-education-brand-of-2023-at-the-economic-times-best-education-brands-awards20230703183621
May
NIIT completes demerger of corporate learning business into NIIT Learning Systems_ Economic Times_ May 2023
https://legal.economictimes.indiatimes.com/news/corporate-business/niit-completes-demerger-of-corporate-learning-business-into-niit-learning-systems/100498981
NIIT launches Career Catalyst Programs to equip youth for success in competitive job market_ The Print_ May 2023
https://theprint.in/ani-press-releases/niit-launches-career-catalyst-programs-to-equip-youth-for-success-in-competitive-job-market/1548774/
 
     
     
 
   
Campaigns
 
   
     
         
   
Environment Scan
   
 
 
     
 
 

 

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