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 Q3 (Oct - Dec 2021) |
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| Insight@NIIT:Vol 53 |
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| Investor Communication |
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| NIIT Limited announces Q3 FY22 results and initiates reorganization of CLG Business as a separately listed company |
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Vijay K Thadani
Vice Chairman & Managing Director, NIIT Limited
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| "With talent emerging as the top priority for every organisation globally, NIIT with its strong balance sheet and market-leading offerings, is uniquely positioned to take advantage of the current environment. Creating two independently run businesses with significant growth capital will propel both CLG and SNC to realize their true potential and create value for all stakeholders". |
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Q3 Revenue at Rs. 383.6 Cr, up 51% YoY |
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Records EBITDA at Rs 82.7 Cr, up 75% YoY; EBITDA margin at 21.6%, up 295 bps YoY |
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Records Profit After Tax of Rs. 55 Cr; EPS at Rs 4.1 |
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Corporate Learning Group (CLG) revenue grows 36% YoY; EBITDA grows 47% YoY |
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Skills & Careers Group (SNC) revenue grows 144% YoY with EBITDA margin of 11% |
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Proposed reorganisation to result in two separately listed companies for CLG and SNC respectively |
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Board approves interim dividend of Rs. 3 per share |
NIIT Limited reported its results for the third quarter ending December 31, 2021. During the quarter, the company recorded Net Revenue of Rs. 383.6 Cr, up 51% YoY. EBITDA was Rs. 82.7 Cr, up 75% YoY and the EBITDA margin stood at 21.6%, up 295 bps YoY. Profit After Tax was recorded at Rs. 55 Cr, up 32% YoY.
The results were taken on record at the meeting of the Board of Directors held today. The Board also approved an interim dividend of Rs. 3 per share.
Further the Board of Directors approved the Composite Scheme of Arrangement which would result in CLG Business and SNC Business to be reorganized as separate publicly listed companies. The proposed scheme is subject to necessary statutory and regulatory approvals including the approval of the NCLT, SEBI, Stock Exchanges, shareholders and creditors.
Corporate Learning Group (CLG) recorded net revenue of Rs. 296.1 Cr, up 36% YoY and 9% QoQ. CLG added 4 new MTS contracts during the quarter - one in aerospace sector, one in Information technology consulting space, one in business intelligence space and one in the BFSI sector. Further, CLG did 3 contract expansions and 3 contract renewals during the quarter. The number of MTS customers stands at 65 and revenue visibility for CLG, at the end of the quarter was at $326 million up from $294 million last quarter.
Skills & Careers Group (SNC) recorded net revenue of Rs. 87.4 Cr during Q3, up 144% YoY and 108% QoQ. The India business is starting to see recovery driven by StackRoute and TPaaS (Talent Pipeline as a Service) which grew 20% QoQ. SNC has transitioned its customers to the NIIT Digital platform. NIIT completed the acquisition of RPS Consulting on October 1, 2021 and integrated its financials in SNC performance.
Other highlights:
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NIIT was ranked #2 among the prestigious HRO Today Baker's Dozen for Learning and Development, 2021 and a Top 20 IT Training Company, 2021 by Training Industry, Inc.
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During the quarter, NIIT launched – "Talent Leadership Boardroom" initiative to generate leadership conversations on the emerging talent requirements of the industry. The first virtual round table in this series was titled - "The Role of Talent in Enabling Business Transformation, Innovation and Excellence in GCCs". NIIT launched its thought paper titled "Learning Reimagined – Catalysing GCC's Transformation" on the changing vision of GCCs in India and the talent necessary to meet their transformation agenda. |
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The 5th edition of NIIT India Confluence, a 2-day exclusive, by-invitation only, virtual summit held on Jan 12-13, 2022, saw representation from around 300 companies and 600+ industry participants. Industry mavens, including CEOs, CHROs, and Business Leaders came together to deliberate on the conference's theme of 'Accelerated Learning for Achieving Business Outcomes'. The conference included enriching sessions by 30+ Corporate leaders including Industry Leader address by Amitabh Chaudhry - MD & CEO, Axis Bank and Keshav R Murugesh - Group CEO, WNS Global Services. Adding to the conversations, Gary Kirsten, international cricket coach, shared winning team perspectives from the world of Cricket and Guneet Monga, globally acclaimed Indian film producer, shared insights from her cinematic journey of self-transformation. |
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19 Brandon Hall Group Excellence in Technology Awards, 2021 jointly with MetLife including 13 Gold awards, 5 silver awards, and 1 bronze award. |
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3 Learning Technologies Awards including 2 Gold awards jointly with MetLife and a Silver Award for Learning Organization of the Year. |
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NIIT Limited won the ASSOCHAM Award for Building Sales and Service Capability Enabling Business at EduMeet 2021, the flagship event which honours excellence in the education and skills industry. |
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NIIT envisages robust growth potential for skilling in Global Capability Centres (GCC)
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Dr Yogesh Kumar Bhatt, Executive Vice President and Business Head - Enterprise IT Business, NIIT Limited
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"Keeping in view the rapid transformation of the GCCs and the kind of skills and talents they will need, we at NIIT do not limit the goal of any learning design to just building the required 'skillsets', but also enabling 'mindsets'. Our programs are designed to build capabilities for a specific role, which includes the ability to collaborate, create value, reconcile conflicts, navigate through opposing arguments, reflect upon self, adapt to change, and set oneself in a path of continuous learning. We call these as Transformative Competencies, and without these, talent transformation initiatives are likely to fail."
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- Launches thought paper on learning-based transformation of GCCs
To bring the spotlight on the evolution being experienced in GCCs in India, NIIT Limited, a global skills and talent development company and leading provider of managed training services announced the launch of its thought paper titled "Learning Reimagined – Catalysing GCC's Transformation."
The paper delves on the changing vision of GCCs in India and the talent necessary to meet their transformation agenda. It also touches upon the case studies of outcome driven interventions, and how learning designs, methods and frameworks must evolve with the changing needs of a GCC, and most importantly foster innovative thinking.
According to industry estimates, it is expected that there will be a minimum of 25% rise in hiring by GCCs, strengthening the talent base in the country. It is also expected that the sector will register about 20% hike in the overall salaries which will further help in attracting and retaining talent.
The key highlights brough forth by the paper are:
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The changing vision of GCCs located in India |
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The disruption caused in their operations by the pandemic |
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The talent requirements needed to meet the transformation agenda of the GCC's |
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Evolution of learning designs, methods, and frameworks in keeping with the transformation agenda of GCCs and the need to foster innovative thinking |
Please access the complete thought paper here.
NIIT provides disruptive IT learning solutions on programming, quality-engineering, data-science and digital architecture. The immersive and remote programs offered through StackRoute, an NIIT venture are practitioner-led and outcome-oriented, with Transformative programs being bespoke learning interventions for professionals in the mid to senior-level role aspiring for technical leadership. Geared towards imparting deep skills in digital technologies, StackRoute works with multiple tier-1 IT companies, product engineering companies, and GCCs towards transforming their workforce into full stack developers who can efficiently deliver digital transformation projects with ease.
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NIIT and Axis Bank partner to launch FinTech Engineering Programme
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Bimaljeet Singh Bhasin,
President, Skills and Careers Business, NIIT Ltd.
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" At NIIT, we have always believed in working closely with the industry to build talent which is future ready and is equipped with modern digital and technology skills. We had recently launched the Axis Bank - NIIT Digital Banking Academy, in collaboration with Axis Bank, to build talent for the fintech sector. Today, we are announcing the FinTech Engineering Programme from the Academy to prepare candidates for a promising engineering career in Freecharge by Axis Bank. This is another milestone in our efforts to build a strong talent pipeline for the bank."
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Programme designed to build high-quality FinTech Professionals for Freecharge
Axis Bank – NIIT Digital Banking Academy, a joint initiative by Axis Bank, India's third-largest private sector bank, and NIIT Institute of Finance, Banking and Insurance (NIIT IFBI), has launched its second programme for experienced IT professionals - "FinTech Engineering Programme" that offers a great career as "FrontEnd and BackEnd Application Developers" with Freecharge, one of the leading digital platforms for financial service's and a wholly owned subsidiary of Axis Bank.
The Axis Bank - NIIT Digital Banking Academy was launched this year for building a high-quality talent pool for Axis Bank in FinTech Roles. The Academy has been successfully running the 'FinTech Professional Programme' under this joint initiative.
The FinTech Engineering Programme offers graduates with 1+ years of experience an opportunity to become FinTech professionals and join Freecharge as Deputy Manager (IT). The programme is immersive in nature, where the learners perform tasks of similar complexity, as they would face in their role. Post successful completion of this 12 weeks immersive programme, learners will be deployed in FinTech roles at FreeCharge as either FrontEnd Application Developer or BackEnd Application Developer.
The course will include a common Foundation Module upon completion of which, candidates will undergo modules related to FrontEnd Developer or BackEnd Developer roles. The course will culminate with a project where candidates will apply and demonstrate the competencies that they have gained over the course. Overall, the programme will include exposure to live projects and extensive practice and mentoring to enable candidates to acquire the experience and confidence to perform in their roles.
Siddharth Mehta, MD & CEO Freecharge stated, "At Freecharge, we have always believed in nurturing & grooming budding talent by providing them with the right training opportunities. Through our partnership with NIIT, a leader in the skill development space, we look forward to building a talent pool of industry-ready engineers, who are not just proficient in technology, but also have a good understanding of the FinTech domain."
For more information please visit: https://www.niit.com/india/graduates/software-engineering/fintech-engineering-program
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| NIIT Announces Partnership with Immerse to Expand Experiential Training Offering |
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NIIT Limited, a global skills and talent development company and leading provider of managed training services, announced today that it has entered a partnership with Immerse, an open and scalable enterprise platform for VR, AR, and 3D employee experiences.
As part of the partnership, NIIT and Immerse will jointly work on immersive learning solutions for customers utilizing NIIT's expertise in developing immersive learning solutions hosted on the cutting-edge Immerse Platform. In addition to joint bids, the two companies will also collaborate on referrals, inter-party collaboration on products or services, as well as joint sales and marketing initiatives. The two companies will work in partnership to create transformative learning experiences utilizing virtual reality, augmented reality, mixed reality, and other experiential learning technologies hosted on the Immerse platform.
Tom Symonds, CEO of Immerse says "We are delighted to have partnered with the team at NIIT to help scale immersive training content throughout organisations. Future-thinking enterprises need immersive and impactful training to continue upskilling employees and retain talent. This partnership is part of an ongoing initiative from Immerse to build an ecosystem where the Immerse Platform will empower and enable organisations to embrace the future of training in the workplace and we're thrilled to be able to progress this further with NIIT."
To learn more about the partnership and the combined immersive learning offerings of NIIT and Immerse, visit www.niit.com/nfinity.
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| NIIT bags ASSOCHAM Award for Building Sales and Service Capability Enabling Business |
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Bimaljeet Singh Bhasin, President, Skills and Careers Business, NIIT Ltd.
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"We are delighted to receive this award from ASSOCHAM for Building Sales and Service Capability Enabling Business. As a global leader in skills and talent development, our priority has always been to deliver outcome driven learning interventions to enterprises in line with their emerging talent requirements."
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Vipul Sinha,
Business Head - Sales & Service Excellence, NIIT.
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"At NIIT, we are committed on delivering result-oriented learning solutions which are aligned to key drivers impacting business growth. This accomplishment will further motivate us to continue working on developing end to end Capability building solutions for different industry sectors to enable a more competent & future ready workforce with greater ability to impact business growth."
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- Recognized at EduMeet 2021 Excellence awards for Education and Skills industry
NIIT Limited, a global skills and talent development company and leading provider of managed training services, has won the ASSOCHAM Award for Building Sales and Service Capability Enabling Business at EduMeet 2021, the flagship event which honours excellence in the education and skills industry.
"We have been enabling enterprises across sectors to align their Learning and Development (L&D) initiatives with focused and specific Business goals. We want to empower companies with highly skilled, growth oriented, digitally adept, and customer- focused workforce"
Sales and Service capability building are critical components of any organization's long-term success, and NIIT has deep expertise in empowering businesses in creating an eco-system for talent development that empowers individuals to enhance key competencies & elevate performance to achieve higher business outcomes. With training and development solutions for Individuals, Enterprises, and Institutions, NIIT has established a strong footprint in over 30 countries with its services.
The EduMeet 2021 & Excellence Awards for Education and Skill Industry by ASSOCHAM is a recognition of the contributions made in the education sector. ASSOCHAM as an apex chamber of the nation has been regularly engaging itself with the policy makers, education bodies, social organizations, international agencies, Institutes of Excellence to bring the desired reforms in the education sector for building an eco-system of sustainability both socially and economically. The apex chamber has undertaken many initiatives to bring reforms in education especially in the country's need to improve quality from early year on, the gross enrolment ratio in higher education, employability, and skill development.
Assocham is a 3rd party organisation that has been regularly engaging itself with the policy makers, education bodies, social organizations etc. to bring the desired reforms in the education sector for building an eco-system of sustainability both socially and economically, and in no manner is related to NIIT Ltd.
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| NIIT's subsidiary, RPS Consulting appoints Francis Jacob as President and Business Head |
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Sapnesh Lalla, CEO and Executive Director, NIIT Ltd.
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"I heartily congratulate Francis and welcome him to the NIIT family and am confident that, together we will charter a great success story with RPS. Francis's track record and depth of experience makes him an ideal leader to build on the great work done by the RPS team."
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NIIT's subsidiary, RPS Consulting announced the appointment of Francis Jacob as its President and Business Head.
RPS Consulting is a leading provider of training programs on emerging digital technologies for experienced technology professionals, specifically addressing the needs of Global Systems Integrators and Capability Centers of large multinational companies.
Francis is a senior leader with over two decades of experience in the technology sector. During these years he has performed leadership roles in global organisations such as Wipro, HP, IBM and Avaya. He has extensive experience and expertise in scaling technology and training business in India and the Asia Pacific region. In his most recent role, Francis was the Director for Oracle University for the Asia Pacific region.
Commenting on the development, Prasad Balakrishnan, CEO and Executive Director, RPS Consulting Pvt. Ltd. said "Both NIIT and RPS Consulting are leading names in the technology training industry. Francis brings immense thrust to our Customer Relationship Management strategy while advancing our Business Excellence Goals and help in Organisational Transformation."
Speaking on joining the NIIT family as President and Business Head, RPS Consulting, Francis Jacob said, "I am excited to join RPS and the NIIT family at a time when there is war for quality technical talent in the market. With this need for continuous learning and skill development, we look forward to working with our Technology Partners to expand our footprint among the GSIs and GCC in India."
NIIT Limited recently acquired 70% stake in RPS Consulting Private Limited (RPS Consulting). This acquisition creates new opportunities for NIIT and RPS Consulting to deliver innovative learning solutions in emerging digital technologies including Software Architecting and Engineering, Data Science, Cloud, Automation and DevOps, for both working professionals and new hires. The acquisition will also help NIIT expand its Managed Training Services portfolio to include technology training as a Managed Service for its global customers.
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| News@NIIT |
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