May 4, 2018
| Press Release
Nucleus Software announces FY18 Financial Results
With continuous focus on digital, supporting Banks and other Financial Institutions to stay ahead of competitive landscape and accelerate growth
New Delhi, May 4, 2018: Nucleus Software
, the leading provider of lending and transaction banking solutions to the global financial services industry, announced its financial results for the financial year ended March 31, 2018.
Consolidated revenue for the fourth quarter of FY 18 is at Rs. 111.0 crore compared to Rs 93.7 crore in the corresponding quarter of the previous year. Revenue for FY18 is at Rs. 411.8 crore, against Rs. 372.4 crore in FY17.
Commenting on the results, Vishnu R Dusad (Managing Director, Nucleus Software) said:
"It has been an excellent start to 2018 across all lines of business. The level of engagement from our customers continues to increase and we have seen some great opportunities coming in. Our lending and transaction banking solutions witnessed outstanding traction in international markets as we signed significant deals with leading Banks in Vietnam, Indonesia, Kenya, the Middle East and India. Building on our successful track record of being awarded the winner of the world’s best-selling lending solution 10 times by IBS Intelligence, I am delighted to report that FinnOne Neo has been recognized as the best -selling lending solution in India in 2018. One of our cloud implementations has also won the ‘Best Lending Technology Implementation of the Year’ award at the BFSI Innovative Technology Awards 2018. It was wonderful to see that our Cloud offering continued to be the most preferred lending technology platform in India as we won a total of 17 deals for FinnOne Neo Cloud in the last 18 months”.
“I am delighted to share that the Board of Directors, has appointed Mr. Ravi Pratap Singh (RP) as the new CEO effective from April 1, 2018 and I will continue as the Managing Director (MD) of the Company. RP has been with Nucleus Software since its inception and he is heading the Global Product Management for the Company. He will also continue as a ‘Whole Time Director’. I am confident that under his leadership Nucleus Software will reach new heights while protecting the values that make us unique in the market,” he further added.
Consolidated results for the Year ended 31st March, 2018
- - Consolidated revenue for FY 2018 stood at Rs. 411.8 crore, in comparison to Rs. 372.4 crore in the previous year
- - Product business revenue for the year at Rs. 326.1 crore in comparison to Rs. 288.1 crore in the previous year
- - EBIDTA for the year at Rs. 58.2 crore in comparison to Rs. 53.3 crore in the previous year
- Net Profit after Tax (PAT) stood at Rs. 62.5 crore in comparison to Rs. 66.2 crore in the previous year
- - Earnings Per Share (EPS) for the year at Rs. 20.47 in comparison to Rs. 20.43 in the previous year
Consolidated results for the Quarter ended 31st March, 2018
- - Consolidated revenue at Rs. 111.0 crore in comparison to Rs. 93.7 crore in the corresponding quarter of the previous year
- - Product business revenue for the quarter at Rs. 89.0 crore in comparison to Rs. 72.1 crore in the corresponding quarter of the previous year
- - EBIDTA for the quarter at Rs. 15.7 crore in comparison to Rs. 14.3 crore in the corresponding quarter of the previous year
- - Net Profit after Tax (PAT) stood at Rs. 17.3 crore in comparison to Rs. 20.4 crore in the corresponding quarter of the previous year
- - Earnings Per Share (EPS) for the quarter at Rs. 5.94 in comparison to Rs. 6.30 in the corresponding quarter of the previous year
- Cash and cash equivalents, including investments in debt schemes of mutual funds, fixed deposits with banks and tax free PSU bonds, etc. are at Rs. 455.9 crore as on 31st March, 2018 as against Rs. 494.4 crore on 31st March, 2017.
- The Board of Directors in their meeting held on 3rd May, 2018 recommended the final dividend of Rs. 8 per Share (on Equity share of Par Value of Rs. 10 each) for the Financial Year March 31, 2018. The payment is subject to the approval of the shareholders at the ensuing Annual General Meeting.
- - During the year, 63 product module implementations successfully went live. In Q4, 9 product module implementations were completed worldwide
- - In FY17-18, we won 35 Product orders in Japan, Middle East, Africa, South East Asia and India. This comprises of 10 product orders in Q4.
- - Continuing with our expansion strategy, we have added 21 new customers in the year from various geographies. This includes 6 new customers in Q4
- - Appointed Mr. Ravi Pratap Singh (RP) as the new Chief Executive Officer (CEO) of the Company effective from April 1, 2018. RP has been with Nucleus Software since its inception and he is heading the Global Product Management for the Company. He will also continue as a ‘Whole Time Director’
- - During the year, FinnOne Neo Cloud deployed at leading NBFCs in India which includes- Esskay Fincorp, Finova Capital, Tab Capital, Sai Point Finance, Essel Home Loans – to support the end-to-end digitization of their lending business
- - Announced the latest version of our transaction banking solution - FinnAxia 5.0 and introduces Trade Finance portal. This includes a state-of-the-art trade finance portal, which provides corporate customers a 360 degree view of their cash positions and enable them to take faster and more informed decisions
- Launched the latest version of Lending Mobility Solution, mCollect, which now offers support for Unified Payments Interface (UPI) based loan payment collections
- - Recognized as ‘Leader in the Lending Systems Category in the Indian Domestic Sales League Table 2018’’. Also secured ‘2nd position in the Lending Systems Category in the Global Sales League Table 2018’ as per IBS Intelligence
- - Won the award for the “Best Lending Technology Implementation of the Year" at the BFSI Innovative Technology Awards 2018
- - The global strength of employees at Nucleus Software as on March 31st 2018 stands at 1,851 as compared to 1,665 as on March 31st
Participation in Industry Forums:
During the year, we participated in number of leading Industry forums globally in order to showcase our expertise and product offerings. Key forums include:
- - Australia: Sponsored the Australian Retail Banking Summit 2017, with the overarching theme of “Retail: Ripe for Revolution”. Demonstrated expertise at 8th annual Australian Mortgage Innovation Summit 2018, in Australia. Showcased comprehensive lending solution, FinnOne Neo for Mutuals at Customer Owned Banking Association’s premiere annual convention, COBA 2017.
- - SEA: Hosted a roundtable discussion around “Profiting from Transaction Banking - Converting Challenges into Opportunities” at Asian Banker’s Future of Finance Summit 2017 in Singapore. Presented insights on ‘How Banks and other Financial Services companies can benefit from Digital’ at a gathering of industry leaders at Ho Chi Minh City and Hanoi, Hosted an exclusive conference for the leaders of Banks and other Financial Services companies in Manila on ‘Driving Innovation in Lending Manila 2017’ in Manila
- - Middle East: Presented insights on ‘Digital Lending and Advanced Analytics’ at the Middle East Banking Innovation Summit (MEBIS) 2017 in Dubai. Hosted an exclusive webinar on ‘How do you become the Digital Bank of Tomorrow – Today?’ for sharing expertise on leveraging the power of digital, personalization and analytics
- - Africa: Showcased expertise on the fast-evolving trends that are transforming the microfinance industry at the Microfinance South Africa 2017 Annual General Meeting & Conference (MFSA AGM) in South Africa: Organized an exclusive industry roadshow on ‘driving Innovation in Lending’ for leading banks and financial institutions in Tanzania
- - India: Hosted an exclusive industry roundtable discussion in Mumbai for Non-Banking Financial Companies (NBFCs) and Housing Finance Companies (HFCs) with the theme of ‘Driving Innovation in Lending’ in association with Dun & Bradstreet and Amazon Web Services in Mumbai and Delhi. Demonstrated insights on ‘How next generation digital lending solutions can help you transform your business’ at the National Cooperative Banking Summit 2017 (NCBS) in Jaipur.