New Delhi, India: NIIT Limited, a global leader in skills and talent development, today reported its results for FY18 and fourth quarter ending March 31, 2018.
FY 2017- 18 highlights:
NIIT Limited : Consolidated Financials for Year ended March 31, 2018
(in Rs. Crores) Year ended Year ended YoY growth
March 31, 2018 March 31, 2017
Net Revenue 850.5 845.2 1%
EBITDA 74.6 67.4 11%
Profit after Tax 62.5 40.9 53%
FY18 constant currency Go forward Revenue up 6% YoY *Note: The accounts have been prepared based on Ind AS, as on 31st March, 2018. To make it comparable on a like-to-like basis, the accounts as on 31st March, 2017 have been converted into Ind AS.
Quarter 4 highlights:
NIIT Limited: Consolidated Financials for Quarter ended March 31, 2018
(in Rs. Crores) Quarter ended Quarter ended YoY growth
March 31, 2018 March 31, 2017
Net Revenue 222.8 209.4 6%
EBITDA 22.1 18.1 22%
*Note: The accounts have been prepared based on Ind AS, as on 31st March, 2018. To make it comparable on a like-to-like basis, the accounts as on 31st March, 2017 have been converted into Ind AS.
The results for FY18 were taken on record at the meeting of the Board of Directors here today.
For the full year, the Company’s Net Revenue stood at Rs. 850.5 Cr, up 1% YoY and PAT was recorded at Rs. 62.5 Cr, up 53% YoY. FY18 constant currency Go forward Revenue was up 6% YoY. During the quarter, the company recorded a Net Revenue of Rs. 222.8 Cr, up 6% YoY and a PAT of Rs. 19.7 Cr. Quarter 4 constant currency Go forward Revenue grew by 10% YoY.
Cash Management was robust, with Net Debt reducing to Rs. 40.1 Cr, including acquisition related cash out flow, as compared to Rs. 41.9 Cr same time last year; and DSO days reduced to 71 days from 83 days last quarter.
Speaking on the company’s performance, Mr. Sapnesh Lalla, CEO, NIIT Limited said, “FY18 saw robust profitability, with PAT growing 53% YoY. EBITDA grew 22% YoY in Q4, on the back of Corporate Learning Group (CLG) delivering a strong revenue growth of 28% YoY during the quarter. CLG now forms 65% of NIIT revenue, showcasing strong performance and a higher growth trajectory.”
Corporate Learning Group (CLG) recorded revenues of Rs. 145.1 Cr, up 28% YoY during Q4. It signed 5 MTS contracts in Q4, including 3 new customers, taking the total number of MTS customers to 39.
Full year revenue for CLG was recorded at Rs. 518.3 Cr, up 14% YoY. Revenue visibility stood at $217.6 Mn up 18% YoY.
During this fiscal year NIIT acquired Eagle Productivity Solutions, a top-rated global provider that specializes in training solutions for companies adopting sophisticated cloud-based applications in the pharmaceutical and life sciences industry. The acquisition will help NIIT expand its training capability for global rollout of cloud-based enterprise applications in the pharmaceutical and life sciences industry.
In FY18, NIIT entered into a strategic relationship with Cornerstone OnDemand (NASDAQ: CSOD), a global leader in cloud-based learning and human capital management software. The company also announced a strategic relationship with EdCast, the award-winning, AI-powered Knowledge Cloud provider with customers that include GE, HPE, Dell EMC, and Accenture.
Skills & Careers Business (SNC) recorded Q4 net revenue of Rs. 58.4 Cr. Beyond IT contributed 40% to SNC’s Q4 FY18 revenue compared to 37% in Q4 FY17.
For the full year, SNC recorded net revenue of Rs. 266.9 Cr.
NIIT introduced five new Career Series programs during the quarter – Accounting & Business Analytics; Banking & Finance; Data Analytics & Predictive Modelling; Digital Marketing & Branding; and Full Stack Software Engineering.
With the business environment getting increasingly competitive, companies are focusing on their core competencies and outsourcing other operations. Continuous availability of skilled talent, matching the speed and scale of business expansion, is a constant challenge for companies across sectors. To address this opportunity, NIIT has introduced TPaaS – Talent Pipeline as a Service, which encompasses all aspects involved in on-boarding new talent, including talent acquisition, talent orientation, on-boarding & integration.
In FY18, NIIT entered into a strategic partnership with UP! Your Service, the global leader in creating cultures of service excellence worldwide, to expand its Corporate Learning portfolio to deliver internal and external cultures of Service Excellence.
During this fiscal year Training.com – a multi-modal learning platform by NIIT along with IIM Calcutta announced fresh batches of Advanced Program in Data Sciences and Executive Program in Digital and Social Media Marketing Strategy. Since the launch of the platform in October 2016, Training.com has generated more than 2 million visitors. Training.com has built a portfolio of over 148 advanced courses including programs in Digital Marketing, Technology, Data Science and Applied Finance from premium institutions including IIM-C, Microsoft and Digital marketing institute.
MindChampion Learning Systems Limited (MLSL) registered net revenue of Rs. 17.6 Cr during the quarter. In Q4 it added 317 school contracts and released new curriculum products in Maths, Science and English.
Full year revenue for MLSL was recorded at Rs 59.3 Cr. It added 668 school contracts during the year.
NIIT ranked as ‘India’s Most Trusted Training Brand’ for 5th year in a row, by Brand Trust Report, 2017.
NIIT named to Training Industry 2017 Top 20 Training Outsourcing Company List for the eleventh consecutive year.
NIIT named to TrainingIndustry.com’s Top 20 Gamification Companies List for the fourth consecutive year.
NIIT named Innovation Award winner at Future Learning 2020 Summit.
NIIT earns Twenty Brandon Hall Group HCM Excellence Awards jointly with customers