MUMBAI, February 9, 2015 — (PRNewswire) —
Rolta India Limited, a leading provider of innovative IT solutions for many vertical segments, including Federal and State Governments, Defense and Homeland Security, Utilities, Process, Power, Banking and Insurance, today announced unaudited financial results for quarter ended December 31, 2014 (Q3 FY-15). Due to change in the Company's fiscal year, quarter ending December 31, 2013 (Q2-FY-14) has been considered for Y-o-Y comparisons.
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FINANCIAL HIGHLIGHTS
- Consolidated Revenue for Q3 FY-15 at Rs.966.75 cr (Rs 9.67 Billion) against Rs. 759.17 cr (Rs. 7.59 Billion) in Q2 FY-14, registering a Y-o-Y growth of 27.3% and Q-o-Q growth of 9.2%.
- Consolidated EBITDA for Q3 FY-15 at Rs. 344.82 cr (Rs. 3.45 Billion) against Rs. 285.06 cr (Rs. 2.85 Billion) in Q2 FY-14, registering a Y-o-Y growth of 21.0% and Q-o-Q growth of 6.1%.
- Consolidated profit after tax for Q3 FY-15 at Rs. 76.56 cr (Rs. 0.77 Billion) against Rs. 74.61 cr (Rs. 0.75 Billion) in Q2 FY-14, registering a Y-o-Y growth of 2.6% and Q-o-Q growth of 8.1%.
- Consolidated Revenue for nine months FY-15 at Rs. 2,733.32 cr (Rs.27.33 Billion) against Rs. 1,999.14 cr (Rs. 19.99 Billion) in previous year, registering a Y-o-Y growth of 36.7%.
- Consolidated EBITDA for nine months FY-15 at Rs. 966.02 cr (Rs. 9.66 Billion) against Rs. 751.69 cr (Rs. 7.52 Billion) in previous year, registering a Y-o-Y growth of 28.5%.
- Consolidated profit after tax for nine months FY-15 as against previous year is not comparable due to exceptional item.
Mr. K. K. Singh, Chairman and Managing Director said, "Rolta continued to build momentum for its IP-led solutions in all geographies. Our solutions are the focus of joint go-to-market programs of global technology leaders, an approach adopted by them only for strategic partners. During the coming years, therefore, we expect to see a greater contribution from IP-licensing and related annuity revenues."
CORPORATE HIGHLIGHTS
In a major move to strengthen the top management, the Board has approved the appointment of Mr. Hiranya Ashar as a Joint Managing Director of the Company. He has been serving the Company for over nine years, with the last eight years as the CFO and a member of the Board. He participated in and led many key strategic initiatives, and contributed significantly to the growth of the Company. In recognition of his talent and commendable performance, the Board approved his elevation to play a key role in growing the international business, apart from continuing as the Group CFO.
Rolta's Defense business is gathering momentum, with major projects in the pipeline moving toward fruition. The Company has, therefore, inducted senior executives and specialists to strengthen its expertise and leadership team, notably with Lt. Gen K.T. Parnaik (retd.), appointed as the President of its Defense and Security business. He brings a wealth of experience of over 40 years in various leadership positions in field operations and prestigious staff appointments, including that of the Army Commander of the Northern Command, a 450,000 strong force dealing with operations and logistics along 3500 Km of the most sensitive borders. Lt. Gen. Parnaik's leadership and experience, especially that of participating in the modernization and transformation of the Indian Army, will be invaluable for taking Rolta's defense business to the next level of sophistication and scale.
Similarly, for Rolta's other business segments, senior business executives and subject matter experts were inducted in all geographies. The Company is also continually enhancing its capabilities for R&D and product development by inducting specialists with cutting-edge expertise, such as in data sciences. This will ensure that Rolta's IP-led solutions continue to remain unique and differentiated.
Defense and Security:
Rolta continues to maintain and strengthen its leadership position in the Indian Defence & Security markets, with cutting edge solutions for addressing the complete 'sensor-to-shooter chain'. The Company has very successfully positioned itself favourably for a large number of upcoming and on-going high-value defence modernization programs.
Rolta and Bharat Electronics Limited (BEL), India's leading public sector enterprise in the defense sector, have formed an exclusive consortium and have bid for the largest Command & Control (C2) program estimated to be worth over Rs. 50,000 Crores ($8.3 B). Rolta has offered a comprehensive solution built around its Rolta BMS SuiteTM, a software suite that has been indigenously developed by leveraging Rolta's deep domain knowledge of C2ISR (Command, Control, Intelligence, Surveillance & Reconnaissance), and Rolta IP that is already in wide use across various formations of the Army. Due to the Company's tailor-made C2ISR solutions for the Indian Army that have been operationally validated in the field, the Company believes its solutions are very strongly placed for selection under this program.
Rolta continues to expand into the mission critical communications domain and has further consolidated its position in Homeland Security. For example, after successfully winning prestigious projects in southern and western India for establishing state-of-the-art Digital Mobile Radio (DMR) networks, the Company is now well poised to receive orders in Eastern India. Rolta has already completed the implementation of the DMR network in Sangli and Jalna districts of Maharashtra and is in advanced stages of implementation in another 7 districts.
Rolta is at the final stage of implementing the "National NAVTEX Network", with coverage up to 250 nautical miles (460 km) from the Indian coast line to transmit maritime navigational and meteorological warnings and forecasts, as well as urgent marine safety information, to ships in Indian waters. This maritime safety project is the first of its type and opens significant opportunities for the Company in this sector.
Geospatial and Engineering Information Systems:
Many government agencies in the Middle East continue to entrust Rolta with new and evermore challenging GIS and Security Projects. For example, for Dubai Roads & Transport Authority's Smart City initiative, Rolta has been awarded a $3.1M project to deploy a sophisticated security solution that will streamline access to their Internet and intranet applications by diverse users based on access privileges of each user.
Rolta was awarded a multimillion dollar contract by IGN to update and standardize the National Database of Agriculture Parcels under an EU initiative to accurately determine the level of subsidy which each EU country has to offer to farmers. Rolta was awarded this contract by IGN France International, a subsidiary of the French National Institute of Geographic and Forest Information (IGN), recognized worldwide as a key player in geographic information engineering.
Rolta's traditional engineering design automation and services business remains robust. The Company embarked on a large "As-Built" 3D plant modeling project using laser scanning technology for India's leading private Oil & Gas Company as part of their ambitious plant modeling program to cover over 70 plants.
Enterprise IT - Business Intelligence, Big Data and Analytics, IT Consulting and Services:
Rolta's Oracle Consulting group's expertise is well recognized in the Financial Services industry. A key service Rolta offers is strategic guidance and implementation of technology to support them during Comprehensive Capital Analysis and Review (CCAR), a stress test imposed by the U.S. Federal Reserve that incorporates proposed capital outflows and assesses capital planning processes. Rolta recently won a multi-million dollar contract from a major bank holding company to implement a CCAR solution.
Rolta SmartMigrate™ for SAP HANA, the automated solution for migration of traditional applications to the SAP HANA platform, is being increasingly sought by SAP customers to rapidly realize benefits from their investments in new technologies. For example, Safran Software Solutions, a Norwegian multinational company, recently completed the migration of their flagship "Safran Project" solution for risk management in asset-intensive industries. A major US travel advisory company recently engaged Rolta to provide an end-to-end solution, from optimized infrastructure platform for SAP HANA to data-warehouse modeling and migration, by leveraging Rolta SmartMigrate.
Rolta OneView™ has been recognized to offer high value across a number of industries, particularly in asset-intensive enterprises, for providing operational and asset insights that were previously not available to operations executives. After rigorous evaluation, The HollyFrontier Corporation, a Fortune 500 refiner and distributor of petroleum products, recently selected Rolta OneView for its ambitious and large program to implement an enterprise-class, scalable solution to provide an integrated view of operations across all functional areas to improve reliability of operations and prevent quality and safety issues at all of its refining units. Rolta OneView stood out due to its rich prebuilt functionality and readily configurable architecture to suit specific needs of HollyFrontier and demonstrated many possibilities for realizing business value, including reduction in maintenance cost per asset and process quality improvements.
