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 September 30, 2014 (Q2 FY-15). Due to change in the Company's fiscal year, quarter ending September 30, 2013 (Q1-FY-14) has been considered for Y-o-Y comparisons.
- Consolidated Revenue for Q2 FY-15 at Rs.885.29 cr (Rs.8.85 Billion) against Rs. 627.77 cr (Rs. 6.28 Billion) in Q1 FY-14, registering a Y-o-Y growth of 41.0% and Q-o-Q growth of 0.5%.
- Consolidated EBITDA for Q2 FY-15 at Rs. 325.13 cr (Rs. 3.25 Billion) against Rs. 239.34 cr (Rs. 2.39 Billion) in Q1 FY-14, registering a Y-o-Y growth of 35.8% and Q-o-Q growth of 9.8%.
- Consolidated profit after tax for Q2 FY-15 at Rs. 70.80 cr (Rs. 0.71 Billion) against Rs. 70.26 cr (Rs. 0.70 Billion) in Q1 FY-14, registering a Y-o-Y growth of 0.8% and Q-o-Q growth of 14.6%.
- Consolidated Revenue for six months FY-15 at Rs. 1,766.57 cr (Rs.17.67 Billion) against Rs. 1,239.97 cr (Rs. 12.40 Billion) in previous year, registering a Y-o-Y growth of 42.5%.
- Consolidated EBITDA for six months FY-15 at Rs. 621.20 cr (Rs. 6.21 Billion) against Rs. 466.63 cr (Rs. 4.67 Billion) in previous year, registering a Y-o-Y growth of 33.1%.
- Consolidated profit after tax for six months FY-15 as against previous year is not comparable due to exceptional item.
- Rolta LLC, a subsidiary of Rolta India Limited, exchanged '2013 10.75% Notes' amounting to US$ 73.3M with '2014 8.875% Notes', and received majority consent with respect to alignment of terms of 2013 Notes with 2014 Notes.
Mr. K. K. Singh, Chairman and Managing Director said, "During the quarter under review, Rolta successfully leveraged the momentum built during previous quarters. Our solutions are gaining rapid acceptance, and are now the focus of joint go-to-market programs with global technology leaders. Such recognition in the marketplace vindicates Rolta's strategy of providing high-value IP-based solutions."
The Company continued to focus on strengthening its portfolio of solutions built around its Intellectual Property (IP) to provide greater functionality and wider coverage across verticals. Rolta's solutions are, therefore, quickly gaining acceptance in all markets. With the US economy distinctly reviving, the Company has strengthened its management and consulting teams in North America to effectively promote its sophisticated products and solutions. World renowned Oracle expert Rich Niemiec was named President of Rolta Americas' Oracle Consulting Practice. Ravi Puri with prior executive-level experience in IBM, Oracle and SAP, was named Senior Vice President of Operations. Jonathan Vivar and Joseph Ung were appointed as Senior Vice Presidents of Sales for the Company's Consulting Services.
Rolta is making 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 for its offerings in BI/Analytics is now very strong, with some very large companies actively engaged in evaluating proof-of-concept and prototype implementations. 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 IP, IT expertise and industry focus.
The Company recently received yet another IT Excellence Award, this time from VMware in India, for the "Best implementation of Private Cloud Automation", recognizing Rolta's expertise and innovative approach to implementing such cutting edge technologies.
Rolta continues to make significant headway with SAP on its strategic OEM partnership for Big Data Analytics, and is now also recognized as a strategic partner for automated migrations to the SAP HANA platform by leveraging Rolta SmartMigrate™. Both companies have also identified "Safe and Smart City" as a strategic vertical for jointly presenting solutions that incorporate each-other's IP in many parts of the world.
Defense and Homeland Security (HLS):
The Company continues to strengthen its position as a provider of indigenous Command, Control, Intelligence, Surveillance and Reconnaissance (C2ISR) software solutions by enhancing and adding to its repertoire of Rolta IP that is specifically tailored to the needs of Indian Defence and Homeland Security.
For example, Rolta was recently awarded a contract by the premier war-gaming agency of the Indian Military to implement a solution that incorporates intricate algorithms for automatically executing rule based behavior of entities in operational environs while 'playing out' scenarios, which will enable the forces to train in highly realistic simulated environments, through advanced and easy-to-use tools for exploitation of military terrain and tactical data.
Rolta has successfully expanded into mission critical communications domain and has further strengthened its leadership position in police modernization. For example, after successful completion of the prestigious project in Kerala to establish a Digital Mobile Radio network that involves providing mobile communications through mobile and hand-held devices, Rolta has now won a similar project from Maharashtra Police. Rolta's safety solutions, which include Rolta GeoCAD™, Rolta Command and Control™ and Rolta Crime Analytics™, have been recognized for the significant value they bring to "Safe and Smart City" programs, and are now being implemented in UP and Maharashtra to enhance real time situational awareness.
Geospatial and Engineering Information Systems:
Rota's expertise in deploying geospatial and engineering information technologies, especially for enhancing BI and analytics in asset-intensive industries, is widely recognized globally. For example, in recognition of Rolta's unique ability to provide such integrated solutions, CPS Energy, the largest municipally owned energy utility providing both natural gas and electric service in the United States, engaged the Company to enhance their BI applications by leveraging geospatial information. Because Rolta innovatively combines its IP and expertise, it has built repeatable solution frameworks to optimize costs and deployment lead-times. Rolta contracted with IBM in Qatar to integrate its GIS solutions with IBM's Asset Management Solution for Ashgal. In the Netherlands, under the BGT framework to replace 2D maps with 3D object-oriented intelligent systems for Dutch municipalities, Rolta has won significant contracts. In the domestic market, Rolta was awarded a prestigious contract from India's leading private sector oil & gas company for developing an 'as-built' 3D model, using lasergrammetry. This is the first of 80+ plants that the customer is modeling using such advanced technologies, and the project's successful execution is expected to be a harbinger of many such projects for Rolta in the next couple of years. The Company also received a major extension contract from one of Japan's leading infrastructure companies for additional detail engineering for a large refinery project in Saudi Arabia.
Enterprise IT - Business Intelligence, Big Data and Analytics, IT Consulting and Services:
Business Intelligence and analytics solutions are perhaps the top priority for CIOs, and organizations worldwide are seeking new technologies to deliver real-time data that can lead to improved business insights.
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. This has resulted in many contracts in various verticals world-wide. In a significant breakthrough in Europe, Rolta has won a project to deliver business consultancy for advanced analytics associated with Rolta OneView™ for a major Utility company. Similarly, a leading Oil exploration company in Oman has engaged Rolta to implement their overall BI and Operational Excellence program by leveraging Rolta's expertise and IP to address areas like Supply Chain, Health and Safety, and business functions such as, HR and Finance. During the quarter, Rolta also developed a Big Data Analytics solution for a gaming technologies company in the US, to whom Rolta delivered a comprehensive system to provide real-time information to better manage the performance of gaming machines in a casino environment.
Utah and Nevada Departments of Transportation (DOT) have engaged Rolta to develop and implement path-breaking solutions with a focus on exploiting Rolta OneView™ features for BI/Analytics. This has established the viability of Rolta OneView™ in yet another vertical segment, and these trend-setting implementations are expected to set new geo-enabled BI/Analytics standards for the rest of the State Departments of Transportation in the U.S., and indeed for similar organizations globally.
Rolta's in-depth domain experience and unparalleled Oracle expertise has positioned it as a leader in delivering innovative solutions to organizations around the world. With more than 12 years of Oracle E-Business Suite migration experience, Rolta has incorporated its expertise and best-practices into a comprehensive Manufacturing IT Assessment suite that helps to clearly define a roadmap for customers to derive optimal results through fast deployment with mitigated risk and vastly improved Time-to-Value. This has resulted in many wins in all geographies for applications like EBS and EPM. For example, Rolta was recently awarded a contract by a global research and manufacturing company in the life sciences industry pertaining to Oracle EBS. The Company also won a contract to design and implement a data warehouse, dashboard and operational reporting for a leading fabricator of industrial products. In India, Rolta has been awarded a prestigious project by the Industries department of Government of Maharashtra for modernizing their e-Governance framework. A leading specialty chemicals company in India engaged Rolta to implement a sophisticated security solution to protect their IP consisting of sensitive data related to their proprietary chemical formulations.
Contracts for long-term Managed Services that entail technical support and upgrades/enhancements are gathering momentum, thereby strengthening the annuity revenue stream. Examples of new contracts include a company that supports communications to multiple phone numbers at a time, and a Blue Cross and Blue Shield healthcare company in the US. Rolta was awarded similar contracts by Dubai Road and Transport Authority for their GIS applications, Bahrain Ministry of Works for the Asset Management System, and other contracts from large organizations such as Dubai Municipality, Abu Dhabi Sewerage Service Company and General Commission of Survey in Saudi Arabia.
About Rolta: Rolta is a leading provider of innovative IT solutions for many vertical segments, including Federal and State Governments, Defense/HLS, Utilities, Process, Power, Financial Services, Manufacturing, Retail, and Healthcare. By uniquely combining its expertise in the IT, Engineering and Geospatial domains, Rolta develops exceptional solutions for these segments. The Company leverages its industry-specific know-how, rich repository of intellectual property that spans photogrammetry, image processing, geospatial applications, business intelligence, analytics, field-proven solution frameworks, and deep expertise in cutting-edge technologies like Geo BI, Analytics, Cloud computing, Software Defined Infrastructure and Big Data for providing sophisticated enterprise-level integrated solutions. Rolta is a multinational organization headquartered in India. The Company operates from 40 locations worldwide through its subsidiaries, and has executed projects in over 45 countries. The Company benchmarks its quality processes to the world's best standards, like successful assessment for Software Application Development and Maintenance at the highest Level 5 of SEI's CMMI® version 1.3. Rolta is listed on the Bombay Stock Exchange & National Stock Exchange, and forms part of various indices on BSE/NSE in India. The Company's GDRs are listed on the Main Board of London Stock Exchange. The Company's 'Senior Notes' are listed on Singapore Stock Exchange.
Disclaimer: This press release includes statements that are not historical in nature and that may be characterized as "forward-looking statements", including those related to future financial and operating results, benefits and synergies of the Company's brands and strategies, future opportunities and the growth of the market for open source solutions. You should be aware that Rolta's actual results could differ materially from those contained in the forward-looking statements, which are based on current expectations of Rolta management and are subject to a number of risks and uncertainties, including, but not limited to, Rolta's ability to integrate acquired operations and employees, Rolta's success in executing its strategies, Rolta's ability to take a competitive position in the industry, business conditions and the general economy, market opportunities, potential new business strategies, competitive factors, sales and marketing execution, shifts in technologies or market demand, and any other factors. The Company may make additional written and oral forward-looking statements but do not undertake, and disclaim any obligation, to update them.
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