Mumbai, Dec. 09, 2016 /PRNewswire/ -- Rolta India
Limited (Rolta), a leading provider of
innovative IP-led IT solutions for many vertical
segments, including Defence/HLS, today announced unaudited
financial results under INDAS for quarter ended September 30, 2016 (Q2 FY -17).
FINANCIAL HIGHLIGHTS
- Consolidated Revenue for Q2 FY-17 at Rs. 736.95 cr
(Rs. 7.4 Billion) against Rs. 800.42 cr (Rs. 8.0 Billion)
in Q1 FY-17, registering a Q-o-Q decline of
7.9%.
- Consolidated EBITDA for Q2 FY-17 at Rs. 232.91 cr
(Rs. 2.33 Billion) against Rs. 217.91 cr
(Rs. 2.18 Billion) in Q1 FY-17, registering
a Q-o-Q growth of 6.9%.
- Consolidated profit after tax for Q2 FY-17 at Rs.
54.30 cr (Rs. 0.54 Billion) against Rs. 23.15 cr (Rs. 0.23 Billion)
in Q1 FY-17, registering a Q-o-Q growth of
134.5%.
Mr. K. K. Singh, Chairman and
Managing Director said, "At Rolta, we embarked on an ambitious
journey to successfully transform from a predominantly GIS
and Engineering services Company into a differentiated IP-led
Software Products and Solutions organization focused on Digital
Technologies. Almost a decade ago we could foresee a decline in
traditional IT services due to emerging disruptive technologies
which triggered this decision. I am pleased to read The Government
of India's, draft National
Software Policy which aims to give the right thrust and motivation
to Indian IT companies to move towards software products. I expect
Rolta to reap the benefits from its transformation as an early
mover."
CORPORATE HIGHLIGHTS
The Company's consortium banks continue to have confidence in
the Company's business fundamentals as demonstrated by their
provision of additional working capital facilities to the Company
over the last few months. As a result, the Company has been
in a position to service overdue payable amounts to consortium
banks in India. With regards
to the bonds issued by the Company's wholly-owned US subsidiaries
Rolta LLC and Rolta America LLC, the Company's financial and legal
advisors have initiated discussions with their counterparts
representing an ad hoc committee composed of the largest
bondholders to discuss potential appropriate solutions to the
present situation. For further information, existing
bondholders should contact the Company's financial advisor Moelis
& Company at the following email address:
Project_Rome_WorkingTeam_Int@moelis.com
Defence and Homeland Security
C4ISR has been identified as a key priority for the
modernization of the Indian Armed Forces with an aim to achieve
synchronization in inter-service military operations. Rolta
has continued to maintain its pre-eminence in the Indian Defence
& Security markets as a significant provider of indigenous
Command, Control, Communications, Computers, Intelligence
Surveillance and Reconnaissance (C4lSR) solutions by continually
enhancing its IP based portfolio. With the latest 64-bit release of
this software suite, Rolta has 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 platform.
Rolta has been focusing on imbibing cutting edge technology
advancements and best practices around the world by way of
engagements with experts, domestically & internationally. Our
enhanced knowledge is then distilled into our IP in keeping with
the latest trends. Rolta is now working on introducing the fourth
dimension of 'Time' in its C4ISR solutions in addition to the
conventional three dimensions of length, breadth and height to
achieve visualization in '4D'. This will provide a hitherto
unavailable, but critical operational planning capability to our
Defence and Security planners and decision makers.
The Indian Armed Forces are in the process of transforming into
a modern, digitised and net centric force, which implies manifold
increase in spending and induction of new technologies and
platform. Rolta is well poised to address large opportunities with
the introduction of a new categorisation, "Buy Indian IDDM
(Indigenously Designed, Developed and Manufactured", which has been
given the highest priority for all future procurements in the
Defence Procurement Procedure 2016. Rolta products are
developed over its own IP, meet the stringent criteria for "Buy
Indian IDDM" categorisation and are not dependent on foreign
technology. Rolta has been invited to bid for all three "Make India
Projects" announced by the Ministry of Defence so far.
As part of the 'Make India' project, the consortium of BEL and
Rolta has been selected as a Development Agency for the Battlefield
Management System (BMS) Project. The BMS project is progressing
well and we are fulfilling our responsibilities in conjunction with
BEL.
Rolta has also made significant inroads in the Homeland Security
market in India by providing a
full range of solutions that covers Command, Control and Mission
Critical Communications to equip the police and paramilitary forces
with best-of-breed technologies. As part of its on-going support to
Maharashtra Police, Rolta recently ushered in the digital
transformation of their mission critical communications network by
deploying sophisticated digital communication systems. This
has given them a tremendous boost in law enforcement as well as
reaction capabilities and is likely to be a forerunner for many
such transformations across the country.
Geospatial and Engineering Asset Information Management
Solutions
Geospatial technology is a vital ingredient for any effective
Smart City solution. With decades of expertise and leadership in
Geospatial technologies, Rolta continues to develop replicable
geospatially enabled Smart City Solutions which are gaining global
acceptance. For example, in the Middle
East, having successfully deployed a citizen facing
Geospatial portal, Rolta has now been selected for two projects
worth US $ 10+M. This will involve enhancing the features and
functionality of the portal as well as creating digital content
comprising of surface and terrain models, hydrographic data,
building and transportation network, etc. for the entire country.
In the Smart Transportation area Rolta was recently awarded a
contract to develop an automated Traffic Services Permit System in
the Middle East. Rolta's Smart
Transportation solution will replace the customer's current systems
for managing the application, review, response, and management of
various permits. In India, an
Urban Development Authority has awarded Rolta a contract for
developing their Citizen centric portal in a bid to provide
efficient and timely services to citizens. The Government of
Maharashtra recently selected Rolta for an integrated decision
support portal to be built on a scalable cloud infrastructure, with
multi-year support worth US $ 2+M.
In the Smart Utility solutions space a large UK based Power
Network Company continues to engage Rolta to add new features and
functionality. Another, large utilities distribution company in UK,
who had engaged Rolta to build their fully integrated, spatially
enabled, enterprise asset management solution, recently awarded an
additional contract to enhance the solution. While, a leading UK
based water utility company has awarded Rolta an additional project
for rationalizing and aggregating their asset information.
Leveraging on its Engineering strengths, Rolta has built an
enviable track record to help asset intensive industries in their
quest for digital transformation, by combining deep industry domain
knowledge and cross functional technical expertise to build robust
Asset Information Management systems. Recently, Rolta commenced a
project to establish an "Intelligent Asset Information" solution
for a world's leading process technology supplier for deployment at
a major refining company in India.
Similarly, in the Middle East,
Rolta was recently selected by another petrochemicals conglomerate
to consolidate all their process assets, comply with standards and
provide centralised access to latest as-built information of their
plant assets by maintenance and project teams.
Enterprise IT and Cloud Solutions
Rolta is well equipped with skills and innovative IP to provide
end to end solutions starting from Advisory services, consulting
and application development which has met with significant success
and traction globally. Recently, a major National Insurance and
Financial Services Company in the US awarded a US $ 6.2M
contract to Rolta for their Data Center Transformation in order to
manage their growing diverse international operations. Similarly, a
major New York Regional Medical Network tasked with consolidating
and integrating Data Center operations across their network awarded
Rolta a $1.4M contract for their
Converged System implementation. Another example includes, a global
leader in the development of industrial plastics for the automotive
and electronics industry was looking for Cloud transformation to
meet their explosive growth. They engaged Rolta for a US
$ 3.3 M contract to provide an
innovative Cloud based 'pay per use' utility model that moved costs
from CAPEX to OPEX.
The onset of new digital technologies has created major security
concerns for various organisations across the world. A Fortune 500
Global health products distribution company signed a US
$ 3.6M contract with Rolta to
implement a Smart Network Security solution. Another major US
restaurant chain was tasked with improving their network and mobile
security across 1500 restaurants. They chose Rolta for their
enterprise security and networking solutions to protect their
Customers and Employees from mobile generated security threats.
Business Intelligence and Big Data Analytics
In the BI and Big Data Analytics area the Company continues with
its relentless innovation which now includes significant new
features and functionality. These include Industrial IoT fusion,
embedded process integration, rules platform, Data Lake support,
Enterprise Asset Condition Monitoring, 3D/4D Spatial
visualizations, Enterprise Search & collaboration amongst
other.
The Company continues to build upon its momentum with new
business opportunities and major extension of scope from existing
engagements across the globe. For example, a leading privately held
Oil & Gas major in the US wanted greater visibility into their
Maintenance, Reliability and HSE. They selected Rolta OneView™
to provide integrated real‑time, cross functional and
actionable insights to improve operational excellence.
Similarly, a large European Chemicals conglomerate selected Rolta
OneView™ for an on-going program, to gain deep insights into their
maintenance, assets, reliability and critical areas leveraging data
across the organization and its value chain. In APAC region, one of
the petrochemicals super major after a comprehensive evaluation
chose Rolta to realise their digital transformation vision. They
found Rolta OneView™ solution to be best suited for their internal
Digital OEMS (Operational Excellence Management Systems)
initiative. This program has potential to span numerous facilities
to provide role based actionable insights. In India, a leading Oil and Gas exploration
company in India has been relying
on Rolta OneView™ as their Enterprise Intelligence Solution for
more than a year. Having seen immense benefits across their
Operations, Maintenance & Reliability, Assets, Health &
Safety, Business & Financial, they elected to re-engage Rolta
for an 'Analytics as a Service' contract. Through this they aim to
get more value from Rolta OneView™ by building new business value
scenarios, drive collaborative insights and create new data science
driven predictive analytics models.
About Rolta:
Rolta is a leading provider
of innovative IP-led IT solutions for many vertical segments,
including Federal and State Governments, Utilities, Oil & Gas,
Petrochemicals, Financial Services, Manufacturing, Retail, and
Healthcare. Rolta is recognized for its extensive portfolio of
solutions based on field-proven Rolta IP tailored for Indian
Defence and Homeland Security. By uniquely combining its expertise
in the IT, Engineering and Geospatial domains, Rolta develops
State-of-the-Art Digital Solutions incorporating rich Rolta IP in
the areas of Cloud, Mobility, IoT, BI and Big Data Analytics. Rolta
is a multinational organization headquartered in India and the Company's shares have been
publicly traded for more than 25 years in India. Rolta GDRs are listed on the London
Stock Exchange for 10+ years.
For additional information please visit www.rolta.com, or
contact:
Lt. Gen K.T. Parnaik
JMD - Defence & Security
Business
Member of the Board
kt.parnaik@rolta.com
Tel: +91 (22) 2926 6666
Preetha Pulusani
President - International Operations
Member of the Board – Rolta Intl.
preetha.pulusani@rolta.com
Tel: +1 (678) 942 5000
Rajesh Ramachandran
JMD - Global Products & Technology Solutions
Member of the Board
rajesh.ramachandran@rolta.com
Tel: +91 (22) 2926 6666
Ramakrishna Prabhu
Director - Corporate Affairs & CFO
Member of the Board
ramakrishna.prabhu@rolta.com
Tel: +91 (22) 2926 6666
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