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).
FINANCIAL HIGHLIGHTS
- 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."
CORPORATE HIGHLIGHTS
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:
Preetha
Pulusani
President – International Operations
Member of the International Board
preetha.pulusani@rolta.com
Tel: +1(678)942-5000
Lt. Gen K.T. Parnaik
JMD - Defence & Security
Business
Member of the Board
kt.parnaik@rolta.com
Tel: +91(22)2926-6666
Rajesh Ramachandran
JMD - Global Products & Technology Solutions
Member of the Board
rajesh.ramachandran@rolta.com
Tel: +91(22)2926-6666
Ramakrishna Prabhu
Director – Finance and Corporate Affairs
Member of the Board
ramakrishna.prabhu@rolta.com
Tel: +91(22)2926-6666
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SOURCE Rolta India Ltd.