MUMBAI: Rolta India Limited (Rolta), a leading provider of innovative IP-led IT solutions for many vertical segments, including Defense/HLS, today announced audited financial results for the quarter and year ended March 31, 2015.
- Consolidated Revenue for twelve months FY-15 at Rs. 3,679.46 cr (Rs.36.80 Billion) against Rs. 3,113.92 cr (Rs. 31.14 Billion) in previous period, registering a Y-o-Y growth of 18.2%.
- Consolidated EBITDA for twelve months FY-15 at Rs. 1,276.62 cr (Rs. 12.77 Billion) against Rs. 1,033.06 cr (Rs. 10.33 Billion) in previous period, registering a Y-o-Y growth of 23.6%.
- Consolidated profit after tax for twelve months FY-15 as against previous period is not comparable due to exceptional item.
- Consolidated Revenue for Q4 FY-15 at Rs.946.14 cr (Rs 9.46 Billion) against Rs. 966.75 cr (Rs. 9.67 Billion) in Q3 FY-15, registering a Q-o-Q decline of 2.1%.
- Consolidated EBITDA for Q4 FY-15 at Rs. 310.60 cr (Rs. 3.11 Billion) against Rs. 344.82 cr (Rs. 3.45 Billion) in Q3 FY-15, registering a Q-o-Q decline of 9.9%.
- Consolidated profit after tax for Q4 FY-15 at Rs. 36.01 cr (Rs. 0.36 Billion) against Rs. 76.56 cr (Rs. 0.77 Billion) in Q3 FY-15, registering a Q-o-Q decline of 53.0%.
- The Board of Directors has recommended a final dividend of Rs. 3.00 per equity shares on the face value of Rs. 10 each for the financial year ended March 31, 2015.
Mr. K. K. Singh, Chairman and Managing Director said, "During the year under review, our strategy of transforming the Rolta business model to an IP-led one was strongly revalidated by our selection for the very large and prestigious BMS project of the Indian Army. Rolta has also successfully leveraged the rapid acceptance of its IP-led solutions for Big Data Analytics as also for traditional applications to gain traction in new verticals and geographies. Such recognition in the marketplace vindicates the Company's unique approach of combining Rolta expertise in IT and Defence domains for rapidly monetizing its investments."
During the year under review, Rolta focused on enhancing its software products and developing new solutions. It inducted senior managers and subject matter experts in all geographies, especially at all development and R&D centers. Rolta received numerous awards for excellence of its solutions in areas like eGovernance, Cloud implementation, Enterprise Security, and Smart City solutions.
Defense and Security
Rolta continues to sustain and strengthen its leading position in the Indian Defence & Security markets as a provider of indigenous Command, Control, Communications, Intelligence, Surveillance and Reconnaissance (C3ISR) solutions by continually enhancing its portfolio.
- Battlefield Management System (BMS): Ministry of Defence (MoD) has selected the exclusive consortium of BEL and Rolta as a Development Agency for the Battlefield Management System (BMS) project worth over Rs. 50,000 Crore.
The BMS is categorized as a "Make" programme under the DPP, and is one of the largest projects being indigenously developed and manufactured for the Indian Army. This prestigious programme is meant to deliver Command, Control and Communications (C3) capabilities to the fighting echelons, operating at the forward edge of the Tactical Battle Area at the Battalion and Combat Group levels. BMS is a situational awareness and visualization system that aims to optimize the operational effectiveness of tactical units.
As a part of its consortium with BEL, Rolta is responsible for the complete BMS application development and software licensing, GIS software and services. Rolta will also jointly work with BEL for manufacturing subsystems for the soldier system, the overall system design, integration, installation, commissioning and maintenance of the BMS programme. The project is progressing well.
- Intelligence, Surveillance and Reconnaissance (ISR): The Company's indigenous ISR solutions are being exploited by hundreds of users in Indian Defence. These high-tech Image Exploitation Systems are deployed at field formations and utilized to serve critical operational needs of providing essential inputs for operational planning, intelligence acquisition and surveillance.
Rolta is the only Company in India to have developed and released highly sophisticated indigenous ISR software solutions that are used for assessing and interpreting troop movements and enemy build up at forward locations to counter threats like insurgency, infiltration, etc. With the latest 64-bit release of this software suite, Rolta has now joined just a handful of companies worldwide that have this sophisticated technology to fully exploit the latest advances in satellite and aerial imaging, and cutting edge computing platforms.
- Optronics: To further strengthen its indigenous ISR portfolio, the Company has signed definitive agreements to establish a Joint Venture with Meprolight, a leading International Electro-Optics company. To be owned 51% by Rolta and 49% by Meprolight, the JV will take advantage of technology transfer from Meprolight for developing and manufacturing state-of-the-art Optronics devices based on Image Intensifier and Thermal Imaging technologies in India, for addressing the growing demand for night fighting capabilities by the Indian defence and security forces.
- Communications: In the mission critical communications area, the company has won sizeable orders from West Bengal, Maharashtra, Kerala and AP police forces. Very recently, the company also successfully implemented the nationwide high power radio communication system based NAVTEX solution for the Directorate General of Light Houses and Light ships (DGLL). The system provides automated messaging for delivery of navigational, meteorological warnings and forecasts, as well as urgent marine safety information to ships. Designed to provide a minimum assured coverage of 250 Nautical Miles from the Indian coastline of over 7,000 kms, this state-of-the-art system has been established over 20 sites.
- Homeland Security: Rolta's indigenous safety solutions, which include world-class software like Rolta GeoCADâ¢, Rolta Command and Controlâ¢ and Rolta Crime Analyticsâ¢ have been recognized for the significant value they bring to "Safe City" programs across the nation. These solutions have been implemented for numerous police forces in many states and are being used to speedily respond to citizens.
Geospatial and Engineering Information Management
Geospatial Domain: Rolta has executed hundreds of projects world-wide leveraging and sharpening its domain expertise. It has used this experience and know-how to develop an extensive suite of over 30 software products and solutions to address "Smart City" initiatives globally. These products typically provide intuitive actionable insights in real time through contextual integration of heterogeneous systems and a variety of sensors. The latest release of its spatial integration platform Rolta Geospatial Fusion OnPointâ¢ includes 64-bit support that helps deployments for managing massive data and is, therefore, uniquely suited to address diverse Smart City segments. Rolta and Hitachi India Pvt. Ltd. entered into an MoU for jointly addressing significant market opportunities in high-growth business segments in India, and to explore establishing a JV for strategic business collaborations for infrastructure systems in large verticals, including Smart City initiatives. Some examples of success in various Smart City segments:
- City Planning, Citizen Services and eGovernance:
- After winning large projects for City Planning applications in Dubai, Abu Dhabi and Saudi Arabia, the Company has now been selected for a multi-million dollar contract in another major Middle-East country which entails implementing Web-enabled GIS with 2D/3D 'intelligent maps' for secure access by various stakeholders.
- The Company implemented a national GeoPortal for Citizens for an apex organization in Saudi Arabia, which has been selected to receive the prestigious "Geospatial World Excellence Award".
- The Company completed a US Trade & Development Agency project for collecting and monitoring Nanjing's transportation data from hundreds of sensors and providing dashboards to assist in management of traffic and environmental parameters in real-time. Rolta leveraged its patented Rolta iPerspectiveâ¢, a platform for integration of disparate sources of data, Rolta OneViewâ¢ for business intelligence, and Rolta Geospatial Fusionâ¢ to integrate spatial attributes.
- Rolta recently won a large order in India from the state of MP for a 'smart governance' solution to establish a 'State Residential Data Hub' ("SRDH") to streamline delivery of benefits directly to citizens. Rolta's SRDH is a repeatable solution and suited to fulfill the needs of various States, who are under directives of the Central Government to implement SRDH solutions.
- After successfully delivering a "Rural Livelihood" solution in Bihar, Rolta won a large order from the state for a "Smart Healthcare Portal".
- Rolta's eGovernance solution implementation recently received the prestigious "eGovernment Excellence Award 2015" from the Government of Bahrain.
- Utilities and Assets Management:
- After establishing its credibility with Thames Water in the UK through some key projects for spatially enabled analytics for asset management, Rolta recently won a contract from the client for a strategically important solution for performance and regulatory compliance reporting services, an area of interest to most utility companies in the UK, thereby opening up a new avenue for business.
- In recognition of Rolta's commitment to providing high-value innovative solutions and services, Northern Power Grid in UK awarded significant additional scope to enhance their spatially-enabled business systems.
- Rolta contracted with IBM in Qatar to integrate its GIS solutions with IBM's Asset Management Solution for Ashgal.
- The Company was awarded a contract by Dubai RTA for developing a system 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. Most GCC countries have evinced keen interest in such an eNOC solution.
- With its geospatial integration approach, Rolta implemented web-enabled planning and map-publishing system leveraging Rolta OnPointâ¢ for direct access by various stakeholders, including the public, through a secure portal in Saudi Arabia.
- In a recent engagement, Rolta was asked by an apex Transport Authority in the Middle-East to develop a sophisticated and unified security solution to streamline access to their Internet and intranet systems by diverse users, including access by the public.
- Another project being executed by Rolta in the Transportation vertical is for a provincial Ministry of Transportation (MOT) that manages Canada's largest network of transit, road, highway, border, and bridge infrastructure. The solution will provide a platform to MOT for prioritizing budget allocations for maintenance and capital projects.
- Rolta has been selected to develop a Traffic Impact System in the UAE. This multi-million dollar project will leverage Rolta Geospatial Fusion OnPointâ¢ and provide a comprehensive solution to improve the overall financial health of operations, and increase cost recovery on capital projects.
Engineering Information Management: Rolta is positioned very strongly due to its unique ability to integrate its portfolio of engineering solutions with enterprise-level IT applications, thereby raising the value proposition much beyond traditional applications and services.
- Global Leader (Fortune 100 Company): In North America, Rolta renewed its Master Services Agreement with a global energy solutions company with diversified interests that include power generation and water technologies. Rolta's engagement with this customer for engineering-IT services and solutions is worth multi-million dollars. Rolta is entrusted with design and development of enterprise-wide global engineering data management standards and work-flows to enable automated manufacturing of plant equipment and to provide a platform for integration of Operations Technology (OT) and business systems (IT).
- Sadara Chemical Company: Sadara is a JV between Dow Chemicals and Saudi ARAMCO. It engaged Rolta last year on a multi-million dollar contract to implement a comprehensive Engineering Information System. The success of the initial phase has led to award of an equally significant additional scope during the year. The project at Sadara includes implementation and integration of 30 engineering applications to support all aspects of the engineering work processes in all the 26 plants of Sadara. The customer is extremely satisfied with Rolta's performance on the first phase which is now nearing completion, and Rolta is in advanced discussions for award of additional scope of work, again valued at multi-million dollars.
Enterprise IT Consulting Services
Rolta's Enterprise IT Consulting group's world-class expertise in Oracle technologies is well recognized. Rolta has successfully completed numerous projects for EBS upgrades, BI consolidations, EPM, and Fusion Middleware. The Company is looked up to for providing cutting-edge solutions for deployment of sophisticated IT Infrastructure such as for Cloud-enablement and enterprise security, with multi-year Managed Services engagements. Rolta received an IT Excellence Award 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 is Oracle's worldwide Platinum Partner with specializations across an extended Oracle Technology stack. Rolta and Oracle jointly address some complex customer needs to leverage Rolta's expertise and IP.
- The Company built upon its enviable track-record in BFSI for designing and implementing sophisticated applications, including Hyperion-based EPM solutions. Many large banks engaged Rolta for developing and implementing applications like balance sheet planning, and forecasting. The Company won a contract to provide guidance and support to implement technologies for 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.
- The Company has completed many projects for Oracle technology upgrades across many vertical segments. For example, Rolta recently upgraded the Oracle E-Business Suite for a global provider of blood and plasma supplies, a successful completion of the project to migrate their ERP system from a competing platform to Oracle R12.
- Driven by recognition of the unique benefits of Rolta SmartMigrateâ¢, the automated solution for migration of applications and databases from one technology platform to another, Rolta is being increasingly sought by customers wanting to consolidate technologies. For example, Safran Software Solutions, a Norwegian multinational company, completed the migration of their flagship "Safran Project" solution for risk management in asset-intensive industries, using the Rolta technology.
Business Intelligence and Big Data Analytics
During the year, the Company continued to gain significant traction in BI/Big Data Analytics area with new opportunities for Rolta OneViewâ¢ and major extension of scope of existing engagements. The Company was engaged by clients in Transportation, Chemicals, and Utilities, besides Oil & Gas. The release of Rolta OneViewâ¢ 6.0 has positioned the solution platform even higher in the competitive landscape by significantly enhancing its features and pre-built functionality. It is now Cloud-ready and supports multi-tenancy and multi-site implementations. This release brings significant innovations in predictive and prescriptive analytics and supports various languages such as Chinese, Japanese, Russian, Spanish, German and Arabic. Rolta is now able to gain much wider access to the large SAP customer base through its strategic OEM partnership. The Company is engaged in paid pilot projects in various verticals in many regions, some of which are close to contract awards.
- Upstream: Rolta won a prestigious order from Cairn India for implementing a sophisticated analytics solution with Rolta OneViewâ¢ to provide spatially-enabled predictive analytics in real time to take preemptive action to minimize downtime of production wells. Similarly, another premier O&G exploration and production company in the Middle-East engaged Rolta to develop a solution for Composite Risk Management. The Company continues to work with the client to enhance the scope of BI and analytics insights for decision support.
- Refining: One of the largest global refiners, a Fortune 500 company, selected Rolta OneViewâ¢ for its ambitious program to implement an enterprise-class, scalable solution to provide an integrated view of operations across all functional areas at all of its refining units to improve reliability of operations. Rolta OneViewâ¢ demonstrated its wide pre-built functionality and flexibility to meet the customer's specific needs for reduction in maintenance cost per asset and process quality improvements.
- Chemicals: An Oman petrochemical manufacturer selected Rolta to implement Rolta OneViewâ¢ to provide an enterprise Manufacturing Intelligence Solution with OT/IT integration. With high ROI realized quickly, the customer has awarded a sizable add-on contract for extra functionality. Rolta is in the process of deploying Rolta OneViewâ¢ for a major US company to enable them to get deeper insights into quality processes and performance across their widely dispersed manufacturing plants. This would enable the customer to achieve cost and capacity optimization.
- Transport: Utah and Nevada Departments of Transportation (DOT) engaged Rolta to develop and implement path-breaking solutions with a focus on exploiting Rolta OneViewâ¢ features for BI/Analytics. These trend-setting implementations are expected to set new geo-enabled BI/Analytics standards for State DOTs in the U.S. This is a repeatable solution eminently suited to fulfill the needs of DOTs under the nationwide MAP 21 initiative.
- BFSI: Building upon its BI/Big Data and Data Science expertise, Rolta has added several products to its portfolio for predictive analytics to address 'Asset Liability & Liquidity Management', 'Fraud & Crime Prevention', and 'Early Warning for Stressed Assets' for the BFSI vertical.
About Rolta: Rolta is a leading provider of innovative IP-led IT solutions for many vertical segments, including Federal and State Governments, Defense/HLS, Utilities, Oil & Gas, Petrochemicals, Financial Services, Manufacturing, Retail, and Healthcare. Rolta is recognized for its extensive portfolio of indigenous solutions based on field-proven Rolta IP tailored for Indian Defense/HLS. By uniquely combining its expertise in the IT, Engineering and Geospatial domains, Rolta develops exceptional IP-based Cloud-ready solutions to enable its customers globally to readily exploit the power of BI, Big Data Analytics, and IT-OT Fusion. Rolta is a multinational organization headquartered in India. The Company operates from over 40 locations worldwide and has executed projects in more than 45 countries. Rolta equity shares are listed on BSE and NSE in India, its GDRs are listed on the Main Board of London Stock Exchange and its '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 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 does not undertake, and disclaims any obligation, to update them.
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SOURCE Rolta India Limited