NIIT Limited, a global leader in skills and talent development, today reported its results for FY20 and fourth quarter ending March 31, 2020.
Financial Year 2019- 20 highlights:
|NIIT Limited : Consolidated Financials for Year ended March 31, 2020
|(in Rs. Crores)
March 31, 2020
March 31, 2019
|Profit After Tax
Quarter 4 FY20 highlights:
|NIIT Limited : Consolidated Financials for Quarter ended March 31, 2020
|(in Rs. Crores)
March 31, 2020
March 31, 2019
|Profit After Tax
For the full year, the Company's Net Revenue stood at Rs. 889.2 Cr, up 3% YoY, EBITDA margin was recorded at 10% and the Profit After Tax was Rs. 1327.5 Cr.
During Quarter 4, the company recorded a Net Revenue of Rs. 211.2 Cr, and a Profit After Tax of Rs. 0.6 Cr. The Board noted that despite rapid and decisive actions by management, to counter the unprecedented impact of the pandemic, the financial results remained muted for the Quarter.
The Board also noted the strong liquidity position of the Company, and Cash balance of Rs. 1208.8 Cr at the end of the financial year.
The results for FY20 were taken on record at the meeting of the Board of Directors today. The Board recommended a final Dividend of Rs. 2 per share (100% of face value of Rs. 2 per share). This follows an interim Dividend of Rs. 8 per share declared in February, 2020.
Mr. Vijay K Thadani, Vice Chairman & Managing Director, NIIT Limited said, “Agile response and decisive strategic actions, resulted in containment of adverse effect and yet enabled the organisation to leverage the massive digital learning opportunity, through NIIT Digital.”
Corporate Learning Group (CLG) recorded revenues of Rs. 175.4 Cr, up 10% YoY during Q4. It signed 5 new MTS contracts in Q4, taking the total number of MTS customers to 54.
Full year revenue for CLG was recorded at Rs. 691.3 Cr, up 9 % YoY on a constant currency. Revenue visibility stood at $263 Mn up 8% YoY. CLG signed 14 new MTS contracts during the year.
During the quarter, in response to the COVID-19 pandemic, NIIT developed a set of actionable roadmaps, toolkits and packaged services to help Learning and Development (L&D) organizations minimize the disruption caused due to the accelerating impact of the crisis.
It launched 3 new products – Digital Assessment Services, Virtual Selling Skills, and Rapid Portfolio Digitalization. These products are designed to help L&D organizations take control and minimize disruption for the here and now and jumpstart digital transformation for a sustainable future.
In FY20, NIIT earned 37 coveted Brandon Hall Group HCM Excellence awards jointly with customers. The company was named a top winner for 2019.
Mr. Sapnesh Lalla, CEO, NIIT Ltd. said, “Since the latter part of Q4, the world has been facing an incredibly difficult situation due to the pandemic. I am proud of our teams, who worked round the clock to fully transform our offerings to the Digital mode in a matter of days. With Digital Learning becoming central, the resourcefulness and flexibility exhibited by NIITians has enabled us to service the changing needs of our customers and learners in these uncertain times.
During the year, Corporate Learning Group added 14 new MTS customers and the revenue visibility stood at $263 Mn up 8% YoY.”
"Our technology based offerings such as NIIT Digital and StackRoute, have performed well in the financial year and are geared to serve the requirements of customers in the Covid-19 impacted world,” added Mr. Lalla.
Skills & Careers Business (SNC) recorded Q4 net revenue of Rs. 35.8 Cr. For the full year, SNC recorded net revenue of Rs. 197.9 Cr.
To ensure seamless delivery continuity during the period of high uncertainty, towards the end of Quarter 4, SNC transitioned its customers to the NIIT Digital platform. Through NIIT Digital, learners are able to access their learning plans and all associated content and services through an intuitive dashboard on connected Desktops/ Tabs/ Smartphones. They are able to attend LIVE Instructor-led classes by some of the best NIIT instructors, view recorded sessions, take quizzes, and interact with their instructors & peers, in addition to a host of other features.
NIIT launched the ‘Remote Work Excellence Kit’ course to support India’s fight against COVID-19. The online course has been made available absolutely free, to help facilitate remote working for adults.
StackRoute, launched ‘Post Graduate Program in Full Stack Product Engineering’ for fresh engineering graduates and young professionals. This is a remotely delivered virtual program, which transforms fresh engineering graduates into multi-skilled full stack product engineers, who are day one ready for live projects/product development.
During the Quarter, SNC added 2 large customers including a leading private bank and a global auto company. StackRoute and TPaaS (Talent Pipeline as a Service) continued to demonstrate growth during FY19-20.
In the fiscal year, NIIT announced the #FutureReadyTalent initiative and launched Future Fests, a pan-India connect program across 50 colleges in the country. The initiative aimed towards encouraging aspiring professionals to enhance their knowledge and skills through NIIT's future ready programs. NIIT collaborated with Automation Anywhere, a global leader in robotic process automation (RPA), to deliver comprehensive RPA workshops to developers, students and IT professionals across India.
Other highlights of FY20:
- NIIT bagged the ASSOCHAM Education Excellence Awards 2019 as the 'Best Innovative Brand' in the Education sector
- StackRoute won the ‘Digital Transformation Learning Partner of the Year for Enterprises’ award at Digital Transformation Summit & Awards
- NIIT won seven 2019 Brandon Hall Excellence in Technology Gold awards jointly with MetLife for MetLife Distribution Academy
- NIIT earned the Learning Technologies 2019 Gold award for the Best use of social and collaborative learning technologies jointly with MetLife
- NIIT ranked among the Top 20 Training Outsourcing Companies by TrainingIndustry.com 2019 for the twelfth consecutive year
- NIIT named to 2019 Training Industry Top 20™ Companies in Content Development List for the ninth consecutive year
- NIIT has been ranked among the 2019 Training Industry Top 20™ IT Training Companies by TrainingIndustry.com 2019
- NIIT was selected as a 2019 Top 20 Gamification Company for the sixth consecutive year by TrainingIndustry.com.
- NIIT was accredited and listed among the Top 20 Highest-Performing Learning Providers 2019 by the Learning and Performance Institute, UK
- NIIT was identified as a “Leader” in NelsonHall’s NEAT vendor evaluation for Learning BPS, 2019
- NIIT held the 3rd India edition of its international customer conference – NIIT Confluence – in Goa from November 13-15, 2019
- NIIT won the ‘Vocational & Skill Development Training Institute’ award under Education Category at the 17th Franchise Awards 2019
NIIT is a leading Skills and Talent Development Corporation that is building a manpower pool for global industry requirements. The company, which was set up in 1981 to help the nascent IT industry overcome its human resource challenges, today ranks among the world's leading training companies owing to its vast and comprehensive array of talent development programs. With a footprint in over 30 countries, NIIT offers training and development solutions to Individuals, Enterprises and Institutions. NIIT has two main lines of business across the globe – Corporate Learning Group and Skills & Careers Business.
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 areas including Digital Transformation, Banking, Finance & Insurance, Retail Sales Enablement, Digital Media Marketing, and new-age IT. 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.
NIIT's learning and talent development solutions, continue to receive widespread recognition globally. NIIT has been named among the Top 20 Training Outsourcing Companies 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.