MUMBAI, Feb. 14, 2018 /PRNewswire/ -- Rolta India Limited (Rolta), a leading provider of innovative IP-led IT solutions for many vertical segments, including Defence and Security, today announced unaudited financial results for the quarter ended December 31, 2017 (Q3 FY - 18).
- Consolidated Revenue for Q3 FY-18 at Rs. 770.24 cr (Rs. 7.70 Billion) against Rs. 748.77 cr (Rs. 7.49 Billion) in Q2 FY-18, registering a Q-o-Q growth of 2.9%.
- Consolidated EBITDA for Q3 FY-18 at Rs. 242.66 cr (Rs. 2.43 Billion) against Rs. 246.89 cr (Rs. 2.47 Billion) in Q2 FY-18, registering a Q-o-Q decline of 1.7%.
- Consolidated profit after tax for Q3 FY-18 at Rs. 53.41 cr (Rs. 0.53 Billion) against Rs. 33.30 cr (Rs. 0.33 Billion) in Q2 FY-18, registering a Q-o-Q growth of 60.4%.
Mr. K. K. Singh, Chairman and Managing Director said, "Organizations need to evolve to address the changing business landscapes. Organisations today are embracing Digital Transformation to deliver fast track insights and drive rapid innovation to outpace competition and thus creating value. With extensive experience in understanding digital transformation, Rolta is strategically placed to help clients define and deliver winning strategies. Increased adoption of our IP led approach and strategy is clearly differentiating Rolta in the market place and enabling the Company to gain significant market share. With this focussed approach we are confident in our ability to continue delivering value for our clients and shareholders."
The Company and certain of its international subsidiaries announced that it has entered into an agreement to implement a restructuring of its US$300M 8.875% Senior Notes due 2019 and US$200M 10.75% Senior Notes due 2018 with an ad hoc committee whose members represent several of the largest bond holders. The Committee has unanimously signed a Restructuring Support Agreement which contains the material terms of the consensual restructuring which is expected to close in the first half of 2018. Details of this can be found in the investor section of the Company's web site. The outstanding amounts shall be restructured and exchanged for US$50M of upfront cash; US$270M of new 4% PIK unsecured notes due 2019 ("1-Year Notes") that can be redeemed in full prior to maturity for US$100M; and US$230M of new 4% unsecured notes due 2023 ("5-Year Notes") that can be redeemed in full prior to 1 year for US$113M or within 2 years for US$156M. In addition to the 1 and 2 year redemption rights set forth above, the Group has the right to redeem both the bonds in full via payment of an additional US$150.5M within 30 days of the effective date of the Restructuring. The agreement, when implemented, will reduce the Group's annual interest expenses by more than 50% and significantly strengthen the Group's capital structure which will be a very positive step for Rolta.
Defence and Homeland Security
The urgent need for force modernization and digitization of the Armed Forces has become increasingly evident from the emerging two front external threats and the continuing internal security challenges facing the country. Rolta is very well poised to meet this need through the 'Make India' and Buy (Indian-IDDM) Indigenously Designed, Developed and Manufactured routes with its indigenous cutting-edge solutions for C2, BMS, ISR, Operations Room, Tri Services, War gaming etc.
Rolta is considered amongst a select group of highly accomplished companies that meet the stringent 'Make India' vision of the Government. The Defence Procurement Procedure 2016 promulgated by the Ministry of Defence (MoD), introduced the categorization of "Buy (Indian-IDDM)" as most preferred category for procurement. Rolta is poised to greatly benefit due to its track record and investments in creating indigenous products and solutions for Indian defence over the last 20 years. As a case in point, Project for procurement of Static and Mobile Photogrammetry and GIS Systems (SMPGS) has been categorised as Buy (Indian-IDDM) where Rolta is a front runner.
The Indian Army's Battlefield Management System (BMS) is its most ambitious program aimed at ushering in Digital Transformation of the Indian Army. BMS will network the Army's combat units by digitally interlinking frontline soldiers and providing them common tactical picture in the battle fields of the future. It is a force multiplier that uses ICT to enhance effectiveness and the weapons they operate. MoD has mandated a totally indigenous software which is Rolta's forte. The Consortium of BEL and Rolta selected as a Development Agency for BMS has submitted the final DPR this quarter, under the active support and guidance of the Indian Army which is an important milestone in implementation of the project.
Rolta is actively involved in the development of Aakrosh, the Indian Army's War gaming project for Counter Insurgency and Counter Terrorism (CI/CT) operations, assisted by frequent interactions with WARDEC staff. This will meet the Army's need for smart solutions to provide dynamic and cost-effective training by simulating operational and strategic scenarios. The solution is being developed indigenously using Rolta Geospatial and War gaming IPs which provide military specific simulation as well as accurate terrain visualisation and interpretation. On completion, it will be a first of its kind War gaming solution for training Battalion/Company and going down to the Unit levels of the Indian Army to meet the real challenges being faced by them.
Border Security & Management along 15000 Km of the country's land borders and 7500 Km of its Coastline, presents a huge opportunity for Rolta's portfolio of indigenous Command & Control (C2) solutions. Rolta is participating in the ambitious program of the Border Security Force (BSF) to secure the country's borders and has responded to RFI issued recently.
To meet their needs of mission critical communications, Rolta has recently delivered state-of-the-art VHF Digital Mobile Radio (DMR) equipment to the Maharashtra Police. A large number of similar opportunities are being addressed from CRPF, Maharashtra, Tamil Nadu, Andhra Pradesh etc.
GOFNMS (Geographical Information based Optical Fiber Network Management System) is a large project to meet the requirements of the Defence Forces for a state-of-the-art GIS based Optic Fibre Cable Network Management System (NMS), spanning over 57000 Kms. Rolta has teamed with a leading Indian Company specializing in telecom and have bid Rolta's solution which will form Core of the GOFNMS System. Formal order, which includes US $ 20+M for Rolta's scope of work, is in its final stages and is expected shortly.
Geospatial and Smart City Solutions
Rolta has been successfully leveraging its Geospatial expertise and proven IP in the areas of Smart Cities and e-Governance. Having deployed hundreds of geospatial enabled Smart City Solutions in leading cities across the world, Rolta's Smart City Solutions continue to gain momentum across the globe including India. For example, under the aegis of Government of India's Smart Cities Mission, Rolta has won a multi-million dollar contract to transform Varanasi in Uttar Pradesh into a 'Smart City'. Rolta in consortium with one of the leading Infrastructure development company, Shapoorji Pallonji won this prestigious contract where Rolta will be responsible to deliver its field-proven Command & Control product suite combined with Rolta OneView™ based analytics to establish the Smart City Command Centre which will act as the nerve centre for the city's transformation. In the Safe City arena, Rolta in consortium with another infrastructure major, recently won a state-wide implementation of a computer aided dispatch system wherein a single dial '112' call from citizens will coordinate emergency services across police, ambulance and fire department. The Company's field-proven and scalable Rolta GeoCAD Solution together with analytics was a key factor in this selection.
A leading GIS solution provider in Ireland, engaged Rolta for its IP led data migration to create a digital data repository and its subsequent ongoing management for their geospatial information. Additionally, in the Middle East a permitting agency handling the 'Emirate's Free Zones' engaged the Company to deploy and implement Rolta SmartCity eNOC solution. This web based Electronic No Objection Certificate (eNOC) management solution provides an efficient workflow management system catering to multiple agencies.
Enterprise IT, Cloud, Mobility and Cyber Security
Organisations are increasingly embracing Mobility and ubiquitous Cloud Computing with Cyber Security to achieve greater accessibility and flexibility in this digital era. Rolta is well equipped with innovative IP and services to provide end-to-end solutions starting from advisory, consulting and application development together with their ongoing management which is gaining traction globally. For example, an American healthcare provider awarded Rolta with a US $ 10 M contract to help transform the datacenter of a large hospital system. An American Electric Power Company engaged Rolta as their trusted technical adviser, with a US $ 5.9 M contract to improve their network and security to protect them and their customers from emerging security threats.
In the quarter, Rolta ManageX™ an IP based IT Transformation platform was rolled out to more than 100 customers to automate and improve service delivery. This solution is expected to dramatically reduce customer costs and present new opportunities for expanding Rolta's portfolio of Managed Services customers.
IoT and Big Data Analytics
Asset intensive industries in their quest for digital transformation have grown to trust Rolta for its ability to address the full spectrum of Big Data analytics maturity journey from initial advisory, data discovery, migration and enablement of big data landscape, establishing an asset information model (AIM) to secure IoT integration and advanced analytics. This has enabled the company to build digital repositories enriched with Business, Geospatial as well as Engineering data to enable collaboration, knowledge sharing, workflow automation together with analysis of intricate data patterns for deep insights. Rolta's BI and Big Data analytics platform has been a key differentiator enabling the Company in winning multiple Smart City Solutions. Rolta has also recently received a contract to re-engage with an existing customer, one of the large Oil Refining, Global Fortune 500 company. Through this project Rolta will be assisting to extend their Asset Information for their new Oil Terminal.
One of India's largest energy conglomerate awarded Rolta with a US $ 20+ M contract for their ambitious Digital Transformation program to establish and manage their next generation paperless office as part of the Digital India initiative. This program will essentially leverage the entire portfolio of Rolta's Big Data IP to design and establish an enterprise content management system encompassing both business as well as engineering data for records and knowledge management, migration of their existing data, integration and business process automation together with mobile access.
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.
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.
For additional information please visit http://www.rolta.com, or contact:
President – International Operations
Member of the International Board
Lt. Gen K.T. Parnaik
JMD - Defence & Security Business
Member of the Board
JMD - Global Products & Technology Solutions
Member of the Board
Director – Finance and Corporate Affairs
Member of the Board
SOURCE Rolta India Ltd.