January 21, 2010
Rolta's Q2 FY-10 Consolidated Revenue Grows 7.2% Q-o-Q and Net Profit grows 11.9% Q-o-Q
Mumbai - Rolta India Limited, one of India's leading IT companies, specializing in Enterprise Geospatial Information Solutions, Defense, Homeland Security (EGIS), Enterprise Design & Operation Solutions (EDOS), and Enterprise IT Solutions (EITS), today announced unaudited financial results for the quarter ended December 31, 2009.FINANCIAL HIGHLIGHTS
- Consolidated Revenue for Q2 FY-10 at Rs. 375.56 crores (Rs. 3755.6 Million) against Rs. 350.49 crores (Rs.3504.9 Million) in Q1 FY-10, registering a Q-o-Q growth of 7.2%.
- Consolidated EBITDA for Q2 FY-10 at Rs. 142.28 crores (Rs. 1422.8 Million) against Rs. 125.48 crores (Rs. 1254.8 Million) in Q1 FY-10, registering a Q-o-Q growth of 13.4%.
- Consolidated Net Profit for Q2 FY-10 at Rs. 62.79 crores (Rs.627.9 Million) against Rs. 56.12 crores (Rs. 561.2 Million) in Q1 FY-10, registering a Q-o-Q growth of 11.9%.
- During the quarter the Company has further repurchased Foreign Currency Convertible Bonds's ( FCCB's), amounting to US $ 15.0 Million (accreted value US $ 17.8 Million) at a discount of 15.25% resulting in a gain of US $ 2.80 Million (approx Rs.13.00 crores). which has been appropriated into Other Income ( Rs. 0.40 crores) & Reserves (Rs.12.60 crores). The aggregate accreted value of all repurchase of FCCB's till date is US $ 61.47 million ( Face Value $ 53.31 million) and total amount paid aggregates US$ 47.75 million resulting in a gain of US $ 13.72 million (approx Rs 66.50 crores) giving an average discount of 22.3% to the accreted value on all buybacks.
Commenting on the results, Mr. K. K. Singh, Chairman and Managing Director, said: "In the past few months, we have seen an upswing and enhanced confidence in client spending across our different verticals. We are very well positioned to take advantage of this positive sentiment by leveraging our established track record, empowered people, domain knowledge, world class infrastructure, enduring partnerships, exceptional IPRs and healthy financials. We are today serving and succeeding in markets that are much larger than ever before and therefore will continue on our path of growth."Corporate Highlights:
The Company has been successful in presenting its new business model in the marketplace. Rolta is transforming its business from services centric to a solutions oriented model, thereby enabling the Company to operate at a much higher level in the value chain. The portfolio of offerings now includes ROLTA's own intellectual property (IP) as part of the solutions for various verticals. This approach is steadily building up a base of licensed IP that would result in ever increasing annuity as compared to the traditional services model.
The Company has deepened its domain expertise in selected verticals through induction of subject-matter experts. To effectively develop, sell and support innovative solutions, the Company continues to hire experienced management and highly-skilled technical staff.
ROLTA inaugurated a state-of-the-art facility in Delhi NCR for show-casing its solutions, especially to Defense and government departments. This is the first development and delivery center in North India, and will serve as the growth hub in that region.OPERATIONAL HIGHLIGHTS:
Enterprise Geospatial Information Solutions (EGIS)
During the quarter, the Company won and executed contracts for deploying ROLTA Geospatial FusionTM, its unique solution for enabling fusion of various disparate geospatial and non-spatial databases and software applications. For example, the project for an Electric Utility company in India was successfully implemented. Rolta continues to win orders in other markets in North America, the Middle East and Africa for these solutions.
The Company installed its software solutions for Earth Science applications at multiple customer sites. These solutions are based on an exceptional combination of Rolta's existing repository of intellectual property and key technologies acquired at the source code level, from various companies worldwide. Rolta Earth Science solutions provide some of the most advanced Geo-Imaging and Photogrammetry capabilities. These advanced and user friendly technologies seamlessly integrate with the extensive repository of Rolta Geospatial solutions, e.g. Rolta Geospatial FusionTM, and are complementary to leading GIS platforms.
The Company has maintained its leadership in the Indian Defense Geospatial market. Rolta has worked closely with the Armed and Security Forces for more than two decades, thereby gaining tremendous knowhow and valuable expertise of their specialized requirements. These significant insights enable the Company to continuously innovate and deliver mission-critical solutions for Defense, Homeland and Maritime Security. These high-technology and reliable solutions like for Advanced Minefield Recording, Automated Change Detection, Complex Command & Control (C2), Ruggedized Mobile Surveillance, Coastal Automatic Identification System, Naval Combat Management System, etc., are empowering the Armed Forces and Security Agencies in making our nation a safer place. The Company is strategically positioned to address the large opportunities arising from the on-going modernization programs of the Defense & Security Agencies.Enterprise Design & Operations Solutions (EDOS)
The Rolta OneViewTM solution is being deployed at additional large refining facilities in USA. It has also been well received in other markets, such as in the middle-east and India. In addition to "reliability" related KPIs that it currently monitors, the Company is working on extending the solution to cover additional functional areas such as "Health, Safety & Environment" and "Operational Excellence". Rolta is also engaged in expanding OneView to cover up-stream operations in the Oil sector. Similarly, the Company is building solution frameworks for other verticals such as Power and Chemicals.
The Company has seen signs of turn-around in capex cycles and has received major orders for sophisticated engineering services from organizations in diverse sectors including nuclear power, space research and oil refining. These are not only significant in size, but also in areas of expertise that would elevate our track record to the next level. Shaw Rolta Ltd., the Company's JV with The Shaw Group, USA continues to make steady progress and is executing intricate projects for customers worldwide.Enterprise Information Technology Solutions (EITS)
Rolta continues to strengthen and develop its intellectual property (IP). The Company has a strong portfolio of capabilities to address various high-value service needs like Business Intelligence, Enterprise Applications, Core Database Foundation as well as Data Security and Service Management. The Company leverage best-of-breed technologies, from the Company's own IP repository, and those of its partners and the Company's comprehensive suite of services. Rolta Solutions and middleware tools provide a common thread between its lines of business, enables the Company to leverage synergies between business units.
Rolta is an Indian multinational organization that has executed projects in over 40 countries. Rolta serves these markets by providing innovative solutions in Enterprise Geospatial Information Solutions (EGIS), Defense & Homeland Security; Enterprise Design & Operations Solutions (EDOS); and Enterprise Information Technology Solutions (EITS). Rolta, through its joint venture with the Shaw Group Inc. USA - Shaw Rolta Ltd. - provides comprehensive Engineering, Procurement and Construction Management (EPCM) services to meet turnkey project requirements of power, oil, gas and petrochemical sectors. Rolta's joint venture with Thales, France - Rolta Thales Ltd., develops and provides state-of-the-art C4ISTAR information systems, Military Communications, Digital Soldier and Vehicle System solutions, covering the entire "sensor to shooter" chain, under transfer of technology from Thales. Rolta, headquartered in Mumbai, employs over 4500 professionals with countrywide infrastructure and international subsidiaries across the globe. The Company has benchmarked its quality processes with the world's best quality standards. Rolta is accredited with the prestigious BSI ISO/IEC 27001:2005 certification, the ultimate benchmark for information security; the BSI ISO/IEC 20000-1:2005 IT Service Management Standard; and the Company has been assessed at Maturity Level 5 of the Capability Maturity Model Integrated CMMI SW version 1.1 in 2006. The Company is now engaged in upgrading to Maturity Level 5 of version 1.2. Forbes Global has ranked Rolta amongst the "Best 200 under a Billion" for four times in six years. Rolta has been included in the S&P Global Challengers ListTM 2008, by Standard & Poor's. This List identifies 300 mid-size companies worldwide that have shown the highest growth characteristics along dimensions encompassing intrinsic and extrinsic growth. ROLTA was ranked at the #1 position in Human Relations (HR), and at the 3rd position in overall ranking in the 2009 DATAQUEST survey of Best Employers in the IT sector. The Company is listed on the NSE in cash and F&O segment and forms part of CNX IT, NIFTY Midcap 50 and CNX 500 indices. The Company is also listed on BSE 'A' group and forms part of BSE Midcap, BSE 200, BSE 500, BSE IT and BSE TECK indices. The Company's GDR is listed on the Main Board of London Stock Exchange and its FCCB's are listed on the Singapore Stock Exchange.
For Further information
Rolta India Limited
Director Finance & CFO
Telephone: +91 (22) 2926 6666
A. P. Singh,
Joint Managing Director
Telephone: +91 (22) 2926 6666
President, International Operations
Telephone: +1 (678) 942 5000