Rolta India Limited, a leading provider of innovative IT solutions for many vertical segments, including Federal and State Governments, Defence and Homeland Security, Utilities, Process, Power, Banking and Insurance, today announced unaudited financial results for quarter ended June 30, 2014 (Q1 FY-15).
- Consolidated Revenue for Q1 FY-15 at Rs.881.28 cr (Rs.8.81 Billion) against Rs. 612.20 cr (Rs. 6.12 Billion) in Q4 FY-13, registering a Y-o-Y growth of 44.0% and Q-o-Q decline of 20.9%.
- Consolidated EBITDA for Q1 FY-15 at Rs. 296.07 cr (Rs. 2.96 Billion) against Rs. 227.29 cr (Rs. 2.27 Billion) in Q4 FY-13, registering a Y-o-Y growth of 30.3% and Q-o-Q growth of 5.2%.
- Consolidated profit before exceptional item & tax for Q1 FY-15 at Rs. 68.90 cr (Rs. 0.69 Billion) against Rs. 85.86 cr (Rs. 0.86 Billion) in Q4 FY-13, registering a Y-o-Y decline of 19.8% and Q-o-Q growth of 33.8%.
Mr. K. K. Singh, Chairman and Managing Director said, "During FY14, Rolta achieved a number of milestones that helped the company achieve high growth over the previous year's revenue. Encouraged by this success of the Company's solutions-based business model, we are focusing on rapidly widening our market reach to not only win new customers, but also to engage with our 3500+ customer base to offer additional solutions and services from our expanded portfolio."
AdvizeX, a wholly-owned Rolta company, has received strong recognition from various technology leaders. Redhat Linux honored the company with the "Rising Star Award". EMC® named the company as the North American "Services Partner of the Year" in recognition of Rolta's highly qualified staff and deep EMC product knowledge, and for delivering service excellence to customers. Based on its strong growth, Rolta improved its standing in Dataquest's ranking of ICT companies in India to 29, versus 43 in the previous year's list. The Company recently received the "Asia Training & Development Excellence Award" for "Best Practice in Learning Transfer for Improving Business Bottom Line" in recognition of Rolta's focused efforts to train its workforce to be effective in its transformation to IP-led solutions orientation.
Rolta recently completed issuance of 8.875%, 5-year Senior Notes to raise USD 300 Million in the international markets. This offering was oversubscribed by more than 8 times, reflecting the confidence of leading global investors in the Company's business model.
On the product development front, the Company has added to its solutions portfolio, including significant enhancements of functionality of Rolta OneView to make it more versatile and to provide deeper insights with diagnostic and prescriptive analytics.
Rolta continues to win projects in the areas of Geospatial & Engineering Systems, Enterprise IT, and Defense & Security by differentiating its solutions by uniquely combining its strengths in these areas of expertise. This is true for all geographical regions, vindicating Rolta's strategy of offering preconfigured but customized solutions that leverage Rolta's deep domain knowledge, its intellectual property, IT expertise and industry focus. Rolta continues to make rapid inroads into significant industry segments like Banking, Finance, Insurance, Manufacturing, Retail and Healthcare, apart from the traditional Rolta segments like, Oil & Gas, Utilities, Government, Infrastructure, and Defense & Security, where it remains strong. The pipeline is steadily undergoing a qualitative improvement, with larger, more sophisticated projects and greater contribution from Rolta IP.
Defense and Homeland Security:
Rolta has maintained its leadership position in the Defence and Homeland Security (HLS) sector in India. The Company's indigenous Command, Control, Intelligence, Surveillance and Reconnaissance (C2ISR) solutions that are based on Rolta IP, have practically become the standard for Indian defence with an installed base of hundreds of sites spread across the length and breadth of India.
For example, Rolta recently implemented its Enterprise Command and Control (C2) solution for Joint Warfare at Indian Military Tri-Services. This solution helps planning in 'team operations' across the Navy, Air Force and Army for integrated and synchronized joint warfare and is being used for briefing and analysis to undertake unified combat operations by the tri-services.
The Company has also been invited by the Indian Army to participate in the largest C2 program for a Battlefield Management System (BMS) estimated to be worth over Rs. 50,000 Crores ($8.3 B). This prestigious project is meant to deliver C2 capabilities to the fighting echelons, operating at the forward edge of the Tactical Battle Area at the Battalion and Combat Group levels. The heart of this project is C2 software and a key mandatory requirement is provision of such operationally proven indigenous software. Rolta's bid is unique, as it is built around the indigenous Rolta BMS SuiteTM of software, which has been developed based on Rolta IP that is in effective use and operationally validated across various formations of the Army.
Our HLS business also continues to flourish, with major police organizations around the country placing their faith in state-of-the-art Rolta solutions. For example, the UP Police control room equipped with Rolta technology was recently inaugurated and received excellent reviews, and is now all set to serve the citizens of Lucknow. This integrated emergency response system comprising of Rolta IP, advanced communication switching technology and Mobile Data Terminals will provide 24/7 access to law enforcement and other emergency services - by the click of a mouse or through simple smart phone applications, a person in distress can seek assistance from anywhere. The modern Control Room at Lucknow, based on Rolta IP, is one of the most sophisticated installations in India.
Geospatial and Engineering Information Systems:
Rolta continues to win projects in all geographies by leveraging its IP and domain expertise, coupled with vertical-specific knowhow. The Company is developing and delivering innovative solutions to customers worldwide. They address diverse business needs of customers, such as spatially enabled asset management, workflow management for public works projects for city governments, and mobility solutions. Because these solutions offer new and unique approaches to enhance business effectiveness of a customer, there is increasing demand for replication, thereby providing opportunities to Rolta to open new markets.
For example, a unique solution was developed for Dubai RTA for centralized issuance of electronic "no objection certificates" (eNOC) to various agencies for carrying out public works in a coordinated manner, thereby reducing costs and delays. All GCC countries have evinced keen interest in such an eNOC solution. Another example is the order received by Rolta from Qatar government's project management organization for geo-enabling their asset management systems by leveraging Rolta OnPoint. Similar Rolta solutions are already serving the needs of departments of transportation of various US and Canadian transportation agencies, as well as many municipalities throughout North America for assets management. Contracts for infrastructure upgrades, enhancements in analytics functionality, and mobility solutions were received in the quarter from many of these public service customers.
Rolta also expanded its European footprint by winning GIS projects in newer markets, such as, for Trakya in Turkey to provide digital mapping for their utility infrastructure. Our engagement with NPG continues to produce very satisfactory results, leading to additional large orders.
Rolta was recently awarded a multi-million dollar additional scope of work by Sadara Chemical Company. The Company was selected for the initial project, also valued at multi-million dollars, based on its unique combination of world class capabilities in Engineering and Information Technology (IT).
Enterprise IT - Business Intelligence, Big Data and Analytics, IT Consulting and Services
This is an area of IT that is rated as the top priority for CIOs and is attracting big investments. With some very unique IP that has received industry acclaim, such as Rolta OneView, Rolta iPerspective, Rolta GeoBI, and many other suites, Rolta offers innovative approaches to implementing BI and Analytics. The pipeline for Rolta OneView opportunities is growing rapidly, with many PoCs in progress in all geographies, including various new markets and verticals, where the uniqueness of Rolta's solutions was a key factor for success. For example, Rolta was contracted by the largest independent petroleum refiner in the United States to provide a PoC of Rolta OneView's capabilities, before embarking on full implementation. Other contracts in the area of BI and Analytics include those for a U.S. nonprofit organization dedicated to furthering the expansion of college opportunities for students; a major healthcare data, analytics and advisory company; and a Fortune 19 healthcare company, representing Rolta's success in multiple vertical segments. In the BFSI Analytics area, Rolta recently expanded into new territories by winning projects around Oracle Financial Services Analytic Application (OFSAA) from banks in Sri Lanka and Vietnam .