New Delhi: NIIT recorded an exceptionally strong quarter of revenue growth and profitability owing to sustained business development, digital transformation and optimized business operations.
During Quarter 4, the company recorded a Net Revenue of Rs. 275.5 Cr, up 30% YoY and 9% QoQ. EBITDA margin was recorded at 25.2%. Profit After Tax was Rs. 46.5 Cr.
For the full year, the Company’s Net Revenue stood at Rs. 949.5 Cr, up 7% YoY. EBITDA margin was recorded at 18.5% and EBITDA at Rs. 175.3 Cr. up 106% YoY. Profit After Tax was Rs. 143 Cr.
The results for FY21 were taken on record at the meeting of the Board of Directors today. The Board recommended 125% Dividend at Rs. 2.5 per share.
Vijay K Thadani, Vice Chairman & Managing Director, NIIT Limited said, “In a challenging year marked by the pandemic, NIIT has shown resilience, decisiveness and agility. The Corporate Business continues to accelerate. The investment in Digital transformation of the business has created new opportunities for growth and improvement in profitability.”
Earlier in the quarter, the shareholders of the Company approved a proposal for buyback of up to 98.75 Lac equity shares at a price of Rs. 240/- per Equity Share. Post statutory approvals, the buyback offer was successfully completed in May 2021. The shares purchased under the Buyback have been extinguished. Post this buyback the outstanding shares stood at 132.47 million.
While speaking on the accelerating growth of NIIT, Rajendra S Pawar, Chairman and Co-Founder, NIIT Limited said: “To seize global opportunities of Digital Transformation, we are expanding the NIIT Board to enhance capabilities and increase diversity.”
The Board announced the addition of two Independent Directors : Ms Sangita Singh, who brings three decades of global B2B experience at Wipro, Infosys and IBM, and Ms Avani Davda, with two decades of rich experience in Consumer Retail and business leadership at the TATA group, including in the role of CEO of the Tata-Starbucks JV. They shall join the Company w.e.f June 5, 2021 as Additional Directors till the forthcoming AGM when their appointments shall be taken up for approval by the shareholders.
Mr Sapnesh Lalla, who has been CEO of the company for almost four years now, is being elevated to the Board as Executive Director & CEO on approval by the shareholders in the forthcoming AGM. In addition, two Non-Executive Directors Udai S Pawar and Leher V Thadani will also join the Board after approval by the shareholders in the forthcoming AGM.
These important additions to the Board will also significantly enhance Board diversity in terms of competencies, domain experience, geography, gender and age.
Corporate Learning Group (CLG) recorded revenues of Rs. 235.3 Cr, up 8% QoQ during Q4. Full year revenue for CLG was recorded at Rs. 825.4 Cr, up 19 % YoY. Revenue visibility stood at $ 287 Mn.
During the year, CLG signed 9 new MTS contracts in FY21, expanded contract with 5 customers, and renewed contracts with 12 customers. The total number of MTS customers stand at 58.
NIIT also developed templates and roadmaps to help L&D functions respond to the COVID-19 pandemic. NIIT’s Adaptive Learning Research in association with Josh Bersin Academy involved in-depth conversations and surveys with more than 100 large global companies.
Skills & Careers Business (SNC) recorded Q4 net revenue of Rs. 40.2 Cr. up 12% YoY. For the full year, SNC recorded net revenue of Rs. 124.1 Cr.
The India business growth for the quarter was driven by NIIT digital platform and StackRoute business. During FY21 SNC has successfully transitioned its customers to the NIIT Digital platform and through this, learners are able to access their learning plans and all associated content and services digitally.
Sapnesh Lalla, CEO, NIIT Ltd. said, “Q4 has been an exceptional quarter driven by industry leading performance by Corporate Learning business and transition to digital in Skills & Careers Business. Our investments in sales and marketing and in building digital capabilities have helped the company achieve growth. The momentum is supported by a number of order wins, renewals and scope expansions this year”
During the Quarter, Nokia and NIIT launched first-of-its-kind 5G certification program over a webinar with COAI to train and certify industry professionals in India, for a career in telecom and IT. To address demand for digital talent, NIIT launched deep-skilling programs in Full Stack Product Engineering, Data Science and Machine Learning, Enterprise Big Data Engineering, Cloud Computing & DevOps, Cybersecurity and Game Development.
During the year, NIIT announced a Post Graduate Diploma in Banking and Relationship Management leading to a career with Axis Bank in Relationship Management roles. The program is designed to build high quality talent for Axis Bank and is delivered by Axis Bank – NIIT Academy of Relationship and Wealth Management.
NIIT held the 4th India edition of its global customer conference – NIIT India Confluence from January 12-13, 2020. The 2-day exclusive virtual summit saw representation of 30+ speakers, 500+ delegates and 170+ organizations. Confluence India attracted widespread participation from CEOs, CHROs, Business Leaders, along with thought leaders from across the world coming together to deliberate on the conference theme – ‘Accelerating Performance through Transformative Learning’.
During the Financial Year NIIT took effective measures to help preserve and protect the health of NIITians from the pandemic.
Other highlights of FY21:
- NIIT was featured as the only company in Educational Services Industry, in the Fortune India 500 list 2020.
- Rajendra S Pawar, Chairman & Co-Founder, NIIT Group & Founder, NIIT University was felicitated with the ‘Lifetime Achievement Award’ at Dataquest ICT Awards 2019.
- P. Rajendran, Joint Managing Director & Co-Founder, NIIT Ltd. was felicitated with the prestigious IIT Delhi Alumni Award for Outstanding Contribution to National Development – Corporate Excellence.
- In 2020, NIIT earned 30 coveted Brandon Hall Group HCM Excellence awards jointly with customers and 15 Brandon Hall Excellence in Technology awards jointly with MetLife.
- NIIT was named a leader in NelsonHall’s 2021 NEAT evaluation for vendors offering learning services.
- NIIT was ranked among Training Industry’s Top 20 companies for Learning Outsourcing, Content Development, and IT Training in 2020 as well as named to the Top 20 companies for Experiential Learning in 2021.
- NIIT was accredited by the Learning and Performance Institute (LPI) for the fifth consecutive year and ranked among the Top 30 Highest Performing Learning providers in 2020 by the LPI.
- NIIT won two coveted 2020 Learning Technologies Awards jointly with MetLife.
- NIIT earned the Learning Impact award at the Learning and Performance Institute’s Learning Awards 2021, jointly with MetLife.