Quarter 4 FY22 Highlights
New Delhi, May 24, 2022: NIIT Limited (NSE: NIITLTD), a leading global talent development corporation, today reported its results for FY22 and fourth quarter ending March 31, 2022.
March 31, 2022
March 31, 2021
The results were taken on record at the meeting of the Board of Directors held today.
Speaking on the company's performance during the quarter and FY22,
Vijay K Thadani, Vice Chairman & Managing Director, NIIT Limited said,
"FY22 has been a milestone year for NIIT, as we completed 40 years. Both the Corporate Learning Group (CLG) and Skills & Careers (SNC) businesses grew exceptionally well and are poised for their next phase of growth. With a robust balance sheet, differentiated offerings and strong track record of delivering outcomes, NIIT enjoys significant brand trust in the markets it serves."
During the quarter, 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. Business Highlights: Corporate Learning Group (CLG) recorded revenues of Rs. 295.7 Cr, up 24% YoY during Q4. Full year revenue for CLG was recorded at Rs. 1131 Cr, up 35 % YoY. Revenue visibility stood at $ 328 Mn.
CLG added 3 new global MTS contracts during the quarter, did 2 contract expansions and 1 contract extension. During FY22, CLG signed 16 new MTS customers. The total number of MTS customers stand at 66.
Skills & Careers Business (SNC) recorded Q4 net revenue of Rs. 79.3 Cr. up 97% YoY. For the full year, SNC recorded net revenue of Rs. 246.5 Cr, up 99% YoY.
StackRoute & TPaaS grew 137% YoY in FY22, contributing 41% to SNC revenues. Sapnesh Lalla, CEO & Executive Director, NIIT Ltd. said "FY22 saw NIIT grow 44% YoY and improve its profitability by 456 bps YoY. At a time when talent is at the top of most CEOs agenda, NIIT's customers continue to trust us with their most pressing talent transformation challenges." During the year, NIIT strengthened its Digital transformation portfolio by adding programs in Data Sciences, AI/ML, Cloud Computing, Cybersecurity and Digital Marketing to meet the accelerating employment growth at GSIs and GCCs, in addition to the digital start-up ecosystem.
During the year NIIT acquired majority stake in RPS Consulting Private Limited, 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.
Other highlights of FY22:
About NIIT Limited
NIIT Limited is a leading global talent development corporation that is engaged in building skilled human capital and enhancing workforce talent worldwide. Set up in 1981 to help the nascent IT industry overcome its human resource challenges, NIIT ranks amongst the world's leading training companies owing to its vast and comprehensive array of talent development programs. With a footprint in over 30 countries, it offers training and development solutions to enterprises and individuals through its two businesses– Corporate Learning Group (CLG) and Skills & Careers Group (SNC).
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 futuristic domains. Further, NIIT also provides a series of aspirational New-age Career Programs in Product & Software Engineering, Data Science, Digital Marketing, Banking, Finance & Accounts, Game Development, 5G certification program, and more. NIIT has incubated,
StackRoute, as a digital transformation partner for corporates to build multi-skilled full stack developers at scale.
As online and remote learning becomes mainstream, the robust
NIIT Digital platform connects the corporate and individual learners seamlessly and provides an environment for improving learning effectiveness and efficiency. Committed to its mission to deep skill the youth of the country NIIT Digital not just offers new age, online, instructor led tech courses but also follows through with placement assurance to truly transform the lives of the learners.
NIIT has been featured as the only company in Educational Services Industry, in the Fortune India 500 list 2020. The company was recognised as "Best Education Company to work with" at Indian Education Congress & Awards 2020. NIIT's learning and talent development solutions, continue to receive widespread recognition globally. NIIT has been named among the Top 20 Training Outsourcing Companies globally for the past twelve 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.
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