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 Q3 (Oct-December 2020) |
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| Insight@NIIT:Vol.45 |
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| Investor Communication |
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| NIIT Limited announces Q3 (October - December 2020) Consolidated Results |
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PAT grows 53% YoY, at Rs. 41.5 Cr |
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Records Net Revenue at Rs. 253.4 Cr, up 16% QoQ, 4% YoY |
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EBITDA up 64% YoY at Rs. 47.1 Cr; Margin at 18.6% |
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Corporate Learning Group (CLG) grows 12% QoQ, 15% YoY |
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CLG adds 3 new MTS customers; CLG revenue visibility grows to $ 270 Mn |
NIIT Limited reported its results for the third quarter ending December 31, 2020. During the quarter, the company recorded a Profit After Tax of Rs. 41.5 Cr, up 53% YoY and Net Revenue of Rs. 253.4 Cr, up 16% QoQ, 4% YoY. EBITDA was Rs. 47.1 Cr. up 64% YoY and the EBITDA margin stood at 18.6%, up 685 bps YoY.
The results were taken on record at the meeting of the Board of Directors held today.
Earlier during the quarter, the Board of Directors of the Company approved a proposal for buyback of up to 98.75 Lac equity shares for an aggregate amount not exceeding Rs. 237 Cr at a price of Rs. 240/- per Equity Share. The Buyback is subject to the approval of the shareholders and other regulatory permissions.
The last three quarters have seen our customers accelerate their adoption of NIIT's Digital platform. This is a strong testimony to NIIT's depth and breadth of experience in learning technologies", added Mr. Thadani.
Corporate Learning Group (CLG) recorded net revenue of Rs. 217.5 Cr up 12% QoQ, 15% YoY. It added 3 new Managed Training Services (MTS) customers and 4 MTS customer renewals in Q3. Revenue visibility increased to $270 Mn.
Skills & Careers Group (SNC) recorded net revenue of Rs. 35.9 Cr during Q3.
NIIT held the 4th India edition of its international customer conference - NIIT India Confluence from January 12-13, 2020. The 2-day exclusive virtual summit saw representation from around 170 companies. Confluence India attracted widespread participation from CEOs, CHROs, Business Leaders, along with thought leaders from across the world coming together to deliberate on the conference theme - 'Accelerating Performance through Transformative Learning'.
During the quarter P. Rajendran, Joint Managing Director & Co-Founder, NIIT Ltd. was felicitated with the prestigious IIT Delhi Alumni Award for Outstanding Contribution to National Development - Corporate Excellence.
| Other highlights: |
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NIIT featured as the only company in Educational Services Industry, in the Fortune India 500 list 2020. |
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NIIT has been accredited by the Learning and Performance Institute for the fifth consecutive year. |
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NIIT earned fifteen Brandon Hall Excellence in Technology awards jointly with MetLife for the MetLife Distribution Academy Platform. |
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NIIT featured in the 2020 Top Training Companies™ list for the information technology (IT) training sector of the learning and development (L&D) market. NIIT has been featured on this list for eleven years. |
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NIIT won two coveted 2020 Learning Technologies Awards jointly with MetLife. |
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NIIT Accredited by the Learning and Performance Institute for the Fifth Consecutive Year |
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NIIT Limited announced that it is has been accredited by the Learning and Performance Institute for the fifth consecutive year. NIIT was awarded the accreditation for its "commitment to high quality and process improvement in the provision of learning, development and training services to clients" by the Learning and Performance Institute (LPI), UK.
LPI is a leading global membership body for learning professionals and organizations, whose aim is to raise the profile of those in the workplace learning sector by sharing and celebrating the knowledge, experience and skills of their members and accredited partners. LPI accreditation is the globally recognized quality mark for providers of learning products, technologies, services, and facilities.
The learning provider accreditation is done through a rigorous audit where a learning provider is validated against a globally recognized quality mark, based on performance data from thousands of learning providers.
Through this accreditation, NIIT has been independently and internationally acknowledged as a forward-thinking, reputable provider, committed to learner outcomes, performance development and customer satisfaction.
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| NIIT Earns Fifteen Brandon Hall Excellence in Technology Awards Jointly with MetLife |
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DJ Chadha
Executive Vice President and Global Head of Learning Operations, Content and Delivery at NIIT's Corporate Learning Group. |
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| "At NIIT, we pride ourselves in technology that pushes the boundaries of innovation for demonstrable learning transformation. We are honored to partner with MetLife for the Distribution Academy Platform which is an exemplary platform for learning technology innovation across the globe and continues to deliver transformative business and learning impact especially in these disruptive and challenging times," |
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NIIT Limited announced that it has earned fifteen Brandon Hall Excellence in Technology awards jointly with MetLife for the MetLife Distribution Academy Platform.
Winners were announced on December 10, 2020. MetLife and NIIT were among the top winners with 12 Gold awards, 2 Silver awards and 1 Bronze award across various categories.
The winners are listed at https://www.brandonhall.com/excellenceawards/past-winners.php.
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| P Rajendran felicitated with IIT Delhi Alumni Award for Outstanding Contribution to National Development – for Corporate Excellence |
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P. Rajendran
Joint Managing Director & Co-Founder, NIIT Ltd
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"It is a once in a lifetime moment for me to receive this prestigious award. I thank the entire IITD Alumni for conferring this honour on me for Corporate Excellence."
"It was indeed a transformational point in my life when I moved into the start-up NIIT Limited and co-created the company with the founders. I am blessed to be a part of the NIIT journey, a company where the key mantra remains 'NIIT is people'. My gratitude to every member of NIIT from yesterday and today, who have helped NIIT impact the lives of over 35 million learners worldwide" |
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NIIT Limited announced that P. Rajendran, Joint Managing Director & Co-Founder, NIIT Ltd. has been felicitated with the prestigious IIT Delhi Alumni Award for Outstanding Contribution to National Development - Corporate Excellence. The award was presented during an exclusive three-day online Conclave - IIT Delhi Alumni Fest 2020 themed 'Exploring the New Normal' from 26-28 December 2020, and part of IIT Delhi's Diamond Jubilee celebration.
These awards were instituted by the IIT Delhi Alumni Association (IITDAA) in 1999 to honour IIT Delhi alumni for their contribution towards National Development, and are conferred each year to enhance the awareness of the work done by IIT Delhi Alumni in their professions, impacting national development.
Speaking during the occasion, Ravindra Kumar, President, IIT Delhi Alumni Association (IITDAA) said, "We value the outstanding achievements by IIT Delhi Alumni in their respective fields and are immensely proud of the contributions made by them. I congratulate all the awardees on their achievement".
For Rajendran, the root of and the route to corporate excellence lay in the hands, minds and spirit of the People at NIIT. With the stated belief that 'NIIT is People', he led innovative people initiatives for over three decades, bringing out the best in NIITians and helping them realise their vast inherent potential to grow continuously – in the profession, in the family and in their impact on the community. These led to great team work, high emotional and social quotients in NIITians, making them a unique breed of high performing professionals. When they move out of the company, they don the title of 'Forever-NIITian' proudly. NIIT received many acknowledgements - Innovative HR Practices, Top 25 'Best Places to work for', Star Employer, 4th rank in India's Best companies to work for and more.
An IIT Delhi Alumnus of the 1974 B.Tech EE, Rajendran is a member of the core team that developed and brought NIIT to its present position of global standing, since its inception in 1981. Rajendran also serves on the Board of Management of the not-for-profit NIIT University and is actively engaged with the not-for-profit NIIT Foundation, which addresses the skilling and employability needs of youth from the underprivileged segments of the society.
It may be recalled that members of the founding team of NIIT, Rajendra S Pawar, Chairman & Co-Founder, Vijay Thadani, Vice Chairman & MD and Co-founder, are among the past recipients of the prestigious IIT Delhi Distinguished Alumni award and Arvind Thakur, Former Vice Chairman & MD at NIIT Technologies Ltd., has been felicitated as the distinguished Alumnus of NITIE Mumbai and is a silver medallist from IIT Kharagpur.
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NIIT Earns Two Coveted Learning Technologies 2020 awards jointly with MetLife |
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NIIT announced that it is has won two coveted 2020 Learning Technologies Awards jointly with MetLife. The winners were announced at the Learning Technologies online awards gala on November 18, 2020 hosted by Deborah Frances-White and Tom Salinsky.
Among the 500 entries received, NIIT was shortlisted in six separate categories jointly with MetLife, IQVIA, Pitney Bowes and the World Food Programme of the United Nations respectively. MetLife and NIIT earned the Gold for the Best technology-based onboarding programme where judges described the Distribution Academy as follows, "The Virtual Induction Experience provides a learning and performance support roadmap targeted at accelerating time to competence and productivity of new Sales Associates, especially those without any prior experience of insurance sales. An outstanding entry that easily met all criteria and is constantly evolving and improving. The judges loved how Metcoins had a reward value associated to their development."
MetLife and NIIT were also jointly awarded with the Silver award for the Best use of blended learning - international commercial sector. The judges described the MetLife Distribution Academy as follows, "The most passionately lived presentation, backed up by strong metrics MetLife and NIIT fought hard for their well-deserved silver. An impactful, complex blend with the infrastructure in place to support learner journeys, the programme clearly works with evidence of business impact and ongoing investment provided. Activated managers were key enablers of the programme and transfer of learning into the business well thought through and robust. A powerful programme that fitted the company culture perfectly."
The Learning Technologies Awards is an international scheme which has been celebrating outstanding learning technologies for 16 years. They are open to anyone worldwide, no matter what the size of the organization, and showcase some of the most recognizable, memorable, and life-changing learning technologies and e-learning around. The Learning Technologies Awards are independently judged and receive hundreds of entries each year. Categories cover innovations, projects, design, games, simulations, social media, mobile technologies, onboarding, and blended learning, as well as awards for outstanding individuals, teams, and organizations. |
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| NIIT Ranked Among Training Industry's Top 20 Companies, 2020 |
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NIIT announced that it is has been featured in the 2020 Top Training Companies™ list for the information technology (IT) training sector of the learning and development (L&D) market. NIIT has been featured on this list for eleven years.
Training Industry, the leading research and information resource for corporate learning leaders, prepares the Training Industry Top 20 report on critical sectors of the corporate training marketplace to better inform professionals about the best and most innovative providers of training services and technologies.
"This year's Top 20 IT Training Companies quickly adapted to organizations' changing work environments to provide content through various modalities to meet the needs of learners working from home," said Ken Taylor, president of Training Industry, Inc. "These modalities include immersive learning approaches such as virtual labs, virtual instruction through a variety of technology platforms and on-demand learning. These companies continue to modify their delivery to ensure learners are receiving the best training that work with their schedule." |
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| Randstad India and NIIT announce the launch of 'Randstad Skilling Academy’ (RSA) |
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- To create a relevant, future-ready and skilled workforce who are ready to be hired
- Aims to reskill more than 1000 IT professionals by the end of 2021
Randstad India, a leading player in the HR services industry, has entered into an exclusive partnership with NIIT Limited, a global leader in Skills and Talent Development to launch the Randstad Skilling Academy. RSA is launched with the primary objective to provide agile and effective reskilling to the chosen candidates, equipping them to remain relevant, fit into evolving businesses and prepare them to work with the world's best employer brands.
Randstad Skilling Academy (RSA), in association with NIIT, offers next-gen IT skilling programs and seeks to fulfil unique industry workforce needs in these difficult hiring times - where ever-changing 'new-normals' are disrupting conventional hiring methods. StackRoute, an NIIT venture has been chosen as an exclusive partner to help RSA in this endeavour – to design programs and manage delivery at scale.
RSA focuses on skilling/up-skilling/cross-skilling resources vis-à-vis current and upcoming technologies to increase their 'employability quotient'. The academy is looking to build a truly trusted ecosystem with prime skilled candidates who are ready to be hired.
"We are very excited about launching the Randstad Skilling Academy (RSA)", said Paul Dupuis, MD & CEO, Randstad India. "As the global leader in the HR services industry, we understand the need for talent to be skilled and employable. Today reskilling is not only a tool for career advancement, but also for future-proofing in a world of ambiguity".
"Through RSA, we aim to enable hundreds of candidates with the relevant in-demand skills that will help them secure better jobs. Our partnership with NIIT ensures a steady stream of future-ready IT professionals adept in programming languages like Java, Angular, Artificial Intelligence, Machine Learning and automated business functions. This program has been designed specifically based on feedback from our clients across India. Our trusted partners rely on Randstad to provide the most qualified candidates who will add value to their organization, and to do so in a timely manner. The RSA will be a great asset on our mission to support both organizations and talent on their growth journey", he added.
The first batch of the academy commenced from September 2020 and candidates go through fully funded training programs by Randstad - on Java, .NET, Python, Mobile App Development, AI/ML, Big Data, Cloud Technologies, and Testing amongst others.
The training is delivered via interactive instructor-led sessions with remote Cloud-based lab facility. The sessions are led by qualified and experienced faculty at StackRoute, imparting hands-on learning techniques and on the job training in live industry settings. The average duration of the assessment & assignment led training programs are 4 – 10 weeks based on client/skills demand. The learners will receive a certificate after the successful completion of their program.
Apart from in-demand IT skills, the candidates trained under the Randstad Skilling Academy, by experienced mentors at StackRoute are enabled with general POSH and GDPR training and other specific requirements of the industry.
For more information about the program, visit:
https://www.randstad.in/randstad-skilling-academy/
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| News@NIIT |
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