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).
- 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."
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.
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
Tel: +91 (22) 2926 6666
President - International Operations
Member of the Board – Rolta Intl.
Tel: +1 (678) 942 5000
JMD - Global Products & Technology Solutions
Member of the Board
Tel: +91 (22) 2926 6666
Director - Corporate Affairs & CFO
Member of the Board
Tel: +91 (22) 2926 6666
SOURCE Rolta India Ltd.