New Delhi, May 25, 2019: NIIT Limited, a global leader in skills and talent development, today reported its results for FY 19 and fourth quarter ending March 31, 2019.
Financial Year 2018- 19 highlights:
March 31, 2019
March 31, 2018
Quarter 4 FY19 highlights:
For the full year, the Company's Net Revenue stood at Rs. 910.2 Cr, up 7% YoY and Profit After Tax was recorded at Rs. 86.4 Cr, up 38% YoY. During the quarter, the company recorded a Net Revenue of Rs. 239.7 Cr, up 8% YoY, EBITDA margin of 10% and a Profit After Tax of Rs. 23.2 Cr, up 18% YoY.
The results for FY19 were taken on record at the meeting of the Board of Directors today.
Speaking on the company's performance, Mr. Vijay K Thadani, Vice Chairman & Managing Director, NIIT Limited said, "The Company witnessed a profitable FY19 with PAT growing at 38% YoY, led by Corporate Learning Group (CLG) which delivered a strong revenue growth of 22% for the year."
Also, the Board took note of the Closing of the transaction for sale of NIIT's stake in NIIT Technologies Limited. The transaction was closed on May 17, 2019 after necessary approvals. NIIT Ltd. received gross proceeds of Rs. 2020.4 Cr. in cash on Closing.
The Board constituted a committee to make recommendations for utilization of proceeds for rewarding shareholders in the most efficient and judicious manner, subject to statutory limits and necessary approvals, and after providing for transaction related costs, taxes, retirement of debt, growth capital and a prudent Indemnity reserve.
The committee shall provide its recommendations to the Board prior to the declaration of audited results for Q1.
In the meanwhile, given the improving performance of the business and the liquidity event, the Board proposed a Dividend of Rs. 5 per share which amounts to 250% of face value of each share.
Corporate Learning Group (CLG) recorded revenues of Rs. 158.8 Cr, up 9% YoY during Q4. It signed 5 new MTS contracts in Q4, taking the total number of MTS customers to 46.
Full year revenue for CLG was recorded at Rs. 632.4 Cr, up 22% YoY. Revenue visibility stood at $245 Mn up 12% YoY.
During this fiscal year, NIIT entered into a five year Learning and Development agreement with Pitney Bowes. Pitney Bowes (NYSE:PBI) is a global technology company providing commerce solutions that power billions of transactions. Under this landmark agreement, NIIT will deliver a comprehensive L&D portfolio of managed training services for Pitney Bowes including learning consulting, demand management, design and development, learning delivery, administration, technology support, and vendor management.
In FY19, NIIT entered into a managed learning services agreement with Signify (formally Philips Lighting) - for the delivery of strategic sourcing and vendor management services. Under this agreement, NIIT will be responsible for managed learning services which includes strategic sourcing of learning suppliers, contracting, quality control, performance management, and payment of vendors.
Sapnesh Lalla, CEO, NIIT Ltd. said, "Corporate Learning Group (CLG) added 9 new logos, expanded its contracts with 5 customers and renewed 2 contracts in FY19. The key initiatives of the India business, StackRoute and TPaaS continued to show momentum."
Skills & Careers Business (SNC) recorded Q4 net revenue of Rs. 62.9 Cr. Beyond IT contributed 41% to SNC's Q4 FY19.
For the full year, SNC recorded net revenue of Rs. 242.8 Cr.
During the quarter, NIIT announced 19th National Scholarship in Nigeria to reward meritorious students in Nigeria desirous of building successful careers in today's digital economy.
During the year, NIIT introduced first-of-its-kind strategic initiative - Talent Pipeline as a Service (TPaaS), to ensure reliable availability of specifically skilled talent to global organizations to match the pace of expansion in today's fast changing, uncertain business environment. Through this initiative NIIT will train around 1,00,000 youth in 3 years for aspirational career opportunities in leading corporates in the IT & BFSI sectors.
In FY19, NIIT announced the launch of series of aspirational Career Programs guided by the choices of the industry to address the changing workforce needs that digital transformation has brought forth.
MindChampion Learning Systems Limited (MLSL) registered net revenue of Rs. 18 Cr during the quarter. In Q4 it added 523 school contracts and released new curriculum products in Maths, Science and English.
Full year revenue for MLSL was recorded at Rs 35 Cr. It added 761 school contracts during the year.
During the year, MLSL launched a new Math program in partnership Marshal Cavendish Education – a leading national and regional provider of K-12 educational solutions in Singapore. MLSL also organised Principals' Symposiums for principals from over 100 leading schools to highlight the importance of 21st-century learning skills in the school curriculum.
Other highlights of FY19:
NIIT is a leading Skills and Talent Development Corporation that is building a manpower pool for global industry requirements. The company, which was set up in 1981 to help the nascent IT industry overcome its human resource challenges, today ranks among the world's leading training companies owing to its vast and comprehensive array of talent development programs. With a footprint across 40 nations, NIIT offers training and development solutions to Individuals, Enterprises and Institutions. NIIT has three main lines of business across the globe – Corporate Learning Group, Skills & Careers Business and MindChampion Learning Systems Limited.
NIIT's Corporate Learning Group (CLG) offers Managed Training Services (MTS) to market-leading companies in North America, Europe, Asia, and Oceania. The Skills & Careers Business (SNC) delivers a diverse range of learning and talent development programs to millions of individual and corporate learners in areas including Digital Transformation, Banking, Finance & Insurance, Soft Skills, Business Process Excellence, Retail Sales Enablement, Management Education, Multi-Sectoral Vocational Skills, Digital Media Marketing, and new-age IT. As NIIT's wholly owned subsidiary for its K-12 school learning initiative - MindChampion Learning Systems Limited (MLSL), provides futuristic NIIT nGuru range of learning solutions for schools comprising, interactive Classrooms with digital content, technology-driven Math Lab, IT Wizard programs and Quick School - an Education Resource Planning software. The Training.com learning platform is an NIIT initiative for advanced career programs, which are delivered live by industry experts in an immersive and interactive online mode, combining instructor-led classrooms with the convenience of accessing the training sessions from anywhere.
As the Most Trusted Training Brand in India for 5th year in a row (Brand Trust Report, 2017), 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 eleven 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 please contact
Senior 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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