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 Q4 (January-March 2024) |
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| Insight@NIIT:Vol 60 |
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| Investor Communication |
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| NIIT Learning Systems Limited (NIIT MTS) Announces Q4 and FY24 Results |
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Highlights for Q4 FY24 |
Highlights for Q4 FY24 |
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Revenue at Rs. 397.9 Cr, up 2% QoQ |
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Revenue at Rs. 1553.5 Cr, up 14% YoY |
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EBITDA margin at 25%, up 113 bps QoQ |
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EBITDA margin at 24%, up 106 bps YoY |
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Profit After Tax at Rs. 54.4 Cr; EPS of Rs. 4.02 |
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Profit After Tax at Rs. 213.2 Cr; EPS of Rs. 15.82 |
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Revenue Visibility at USD 335 million at quarter end |
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Adds 11 new MTS customers during the year |
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New Delhi, May 22, 2024: NIIT Learning Systems Limited [NIIT Managed Training Services (NIIT MTS)] (Ticker Symbol: NIITMTS),
a global leader in managed learning services announced the annual results for Financial Year 2024, ended March 31, 2024.
During the financial year, the company recorded consolidated Net Revenue of Rs. 1553.5 Cr, up 14% YoY. EBITDA was Rs. 376.2 Cr,
up 19% YoY while EBITDA Margin stood at 24%. Profit After Tax was Rs. 213.2 Cr and the EPS stood at Rs. 15.8.
During the quarter, the company recorded consolidated Net Revenue of Rs. 397.9 Cr, up 2% QoQ with EBITDA Margin at 25%, up 113
bps QoQ. EBITDA for the quarter was Rs. 99.5 Cr, up 7% QoQ and PAT of Rs 54.4 Cr.
The Board recommended a final dividend of Rs. 2.75 per equity share. This is in addition to an interim dividend of Rs. 2.50 per equity share declared on October 30, 2023.
The results were taken on record at the meeting of the Board of Directors held on May 22, 2024.
The company added 11 global Managed Training Services (MTS) contracts during FY24 and expanded scope of 2 existing contracts. In addition, the company renewed 11 contracts during the year, retaining its track record of 100% renewals. The company ended the year with 87 MTS customers and revenue visibility of USD 335 million.
During the financial year, NIIT MTS set up the GenAI Factory under the leadership of Chief Learning Scientist, Dr. Gregg Collins, with a team of over 50 seasoned AI experts who are working on over 150 use cases for Generative AI in learning with an advanced maturity model. NIIT’s GenAI Factory comprises a secure AI learning environment that allows for the rapid development of complex AI ecosystems, enabling the team to marshal the latest and greatest AI tools to achieve the learning of tomorrow.
Over the past year, the company consolidated its Learning Consulting Services portfolio with the combined offerings of St. Charles Consulting Group and NIIT MTS. The consolidated Consulting and Advisory Services team has developed a comprehensive framework
that links organizational strategy with workforce needs and covers an extensive portfolio of services, including Talent Strategy, Business Alignment, Talent Acquisition, Learning Transformation, Employee Experience, Leadership, Talent, and Learning Technology.
NIIT MTS also strengthened its strategic partnership with EIT InnoEnergy Skills Institute to offer a comprehensive green skills curriculum to corporations and academic institutions in Europe and North America. EIT InnoEnergy is the innovation engine for sustainable energy, supported by the European Institute of Innovation & Technology, a body of the European Union (EU).
Confluence 2024, the 16th edition of the Annual customer conference, was held in New Orleans, Louisiana in March 2024 and hosted over 100 learning leaders from the world’s leading Fortune 500 and Fortune Global 500 companies. The company also held its annual Customer Advisory Board meeting with leaders from 12 market-leading companies prior to the conference. |
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| Awards and Accreditations |
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NIIT MTS earned 56 Brandon Hall Excellence in HCM Awards and 19 Brandon Hall Excellence in Technology Awards in 2023. |
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NIIT MTS Featured among the Top 20 Companies by Training Industry in Learning Services, Custom Content Development, IT
and Technical Training, Advanced Learning Technologies, and Experiential Learning Companies in 2023. |
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NIIT MTS Ranked a Strategic Leader in the 2024 Fosway 9-Grid™ report for digital learning. |
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| NIIT MTS accredited a Gold Standard learning provider by the Learning and Performance Institute for 2023. |
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Sapnesh Lalla,
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| CEO and Executive Director, NIIT MTS, |
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“I am delighted to share that at our recent annual customer conference, our customers complemented NIIT MTS for reliability and customer centricity”. He further added, that “The Customer Advisory Board, which met during Confluence, is helping us prioritize key areas for investment, including Generative AI, learning consulting, and transversal skills.” |
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| NIIT Limited Announces Consolidated Results for Q4 and Financial Year 2023-24 |
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Q4 FY24 Highlights |
FY23-24 Highlights |
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Q4 Revenue at Rs. 743 million, up 24% YoY |
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FY24 Revenue at Rs. 3035 million |
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EBITDA at Rs. 13 million, vs. EBITDA loss of
Rs. 95 million LY |
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EBITDA at Rs. 48 million; EBITDA margin up 129 bps YoY |
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Profit After Tax (PAT) at Rs. 112 million, vs. loss of
Rs. 94 million LY |
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Profit After Tax (PAT) at Rs. 384 million, vs. Rs. 32 million LY |
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EPS of Rs 2.85 vs. Rs. 0.24 LY |
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| *Note: Q4 is a seasonally weak quarter for the business. Therefore, YoY changes are more appropriate for comparison |
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New Delhi, May 24, 2024: NIIT Limited (Ticker Symbol: NIITLTD), a leading skills & talent development corporation, announced the annual results for the Financial Year 2024, ending March 31, 2024.
During the quarter, the company recorded Net Revenue of Rs. 743 million, up 24% YoY. EBITDA was recorded at Rs. 13 million, up 114% YoY. Profit after Tax was Rs. 112 million, up 219% YoY.
During the financial year, the company recorded consolidated Net Revenue of Rs. 3035 million. EBITDA was Rs. 48 million, up 364% YoY. Profit After Tax was Rs. 384 million and the EPS stood at Rs. 2.85.
The Board recommended a final dividend of Rs. 0.75 per equity share. This is in addition to an interim dividend of Rs. 0.50 per equity share declared on October 31, 2023.
The results were taken on record at the meeting of the Board of Directors held on May 24, 2024.
In FY24, NIIT Ltd announced the integration of Generative AI in its existing Digital Marketing and Full Stack Software Engineering programs which is aimed at equipping learners with a competitive edge in today’s rapidly evolving job market thereby making them industry-ready.
In Q4, revenue from NIIT Ltd.'s early career segment grew 16% YoY, contributing 48% to the total revenue. The working professional segment grew 32% YoY contributing the balance 52%. Additionally, StackRoute and TPaaS experienced a year-over-year growth of 45%.
In FY24, RPS Consulting, an NIIT subsidiary, made significant strides in the industry, being recognized as the "2024 Google Training Partner of the Year - Asia Pacific" for the second consecutive year. Additionally, RPS Consulting has been honored as the "Veeam Partner of the Year for APAC - 2023" and the "EC Council ATC of the Year - 2023".
The 7th edition of the annual customer conference NIIT Confluence 2024, which has emerged as a pivotal event in the Learning and Development (L&D) landscape, was held in April’24. The event featured a diverse lineup of participants and speakers from prominent companies across various industries. With approximately 10 panel discussions, 5 fireside chats, and 3 keynote sessions over three days, the event provided a robust platform for dialogue and the exchange of ideas.
In a move to redefine education with personalized guidance, NIIT Digital conceptualized the idea of NIIT Learner Hub with a vision to bridge the gap in online learning, offering a human touch through face-to-face interaction. NIIT Learner Hub will empower students to explore interests, identify strengths, and build personalized roadmaps to success. This innovative space fosters meaningful conversations and unlocks opportunities, ensuring students thrive in the tech-driven world.
NIIT Ltd organized the third edition of the EdTech Growth Summit focusing on capacity building of the Ed-tech sector to help achieve profitable growth. The Summit featured keynote speeches, panel discussions, and fireside chats besides providing a unique platform for Ed-tech founders and start-ups to glean insights from industry experts and collaborate with educators, industry leaders, and tech innovators.
IFBI significantly expanded its offerings in FY24, launching a suite of solutions for diverse roles within the BFSI industry. These solutions include Branch Manager Certification, Digital Sales Coaching for sales professionals, Branch Operations Management programs, and an academy with a long-term learning journey for Relationship Managers. Additionally, programs focused on Bharat Banking, Rural Banking, and Corporate Salary catered to specific segments of the financial sector. Through strategic partnerships with leading banks, IFBI has successfully trained over 32,000 BFSI professionals.
StackRoute achieved significant growth in its Transformative Program series, partnering with five Global System Integrators (GSIs) and one Global Capability Centre (GCC) to upskill senior tech professionals like Architects, Program Managers, and Product Managers. Additionally, StackRoute expanded its offerings by launching Data Science programs for an Engineering GCC and a GSI, while also creating unique reskilling and deployment programs for software engineers at two GSIs. |
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| Other Highlights |
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NIIT Ltd introduced a new set of programs named Career Catalyst Programs which is a Java & Data Science Foundation Program aimed at providing learners with an early head start in career exploration and skill development in their desired fields. |
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NIIT Limited has been recognized as Best Education Brand of 2023 at the 6th Edition of The Economic Times Best Education Brands awards and summit for its commitment and contribution towards strengthening the upskilling and reskilling landscape through its innovative learning solutions. |
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NIIT Limited announced the first edition of Digital Architecture Conclave 2023 by StackRoute, an NIIT venture, that provides
a unique opportunity for the architectural community to get insights from key industry leaders and professionals on architecture
trends and techniques powering future architectural blueprints. |
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