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NIIT Limited Annual Report 2008

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NIIT Limited Annual Report 2008 AMERICAS EUROPE Element K India Pvt Ltd. United States of America United Kingdom 4th Floor, RR Chambers-II Principal Office: NIIT Limited Thiru-vi-ka Industrial Estate, Guindy NIIT (USA) Inc. Wallbrook Building 5th Floor Chennai 600032, India 1050 Crown Pointe Parkway 195 Marsh Wall, London Phone: +91-44-22318606, 42454000 5th Floor E14 9SG United Kingdom Fax: +91-44-52120375 Atlanta, GA 30338, USA Phone: +44 0 2070 335900 Phone: +1 770 551 9494 Fax: +44 0 1494 539444 Evolv Ser vices Ltd. Fax: +1 770 551 9229 A-11, Sector 2 Element K (UK) Limited Noida 201301 Element K Corporation 12B Talisman Business Centre Phone: +91 120 2535055 500 Canal View Blvd Bicester, Oxon OX26 6HR, UK Fax: +91 120 2535058 Rochester, NY 14623, USA Phone: +585 240 7500 Phone: +585 240 7500 Fax: +585 240 7760 Malaysia Fax: +585 240 7760 NIIT Malaysia Sdn Bhd ASIA Suite G02 Cognitive Arts China 2310 Century Square 500, Davis Drive, Suite 650 NIIT China (Shanghai) Ltd. Jalan Usahawan Evanston, Illinois 60201, USA 12C, Long Life Mansion 63000 Cyberjaya Phone: +1 847 425 8500 1566, Yan An West Road Selangor, Malaysia Fax: +1 847 425 8510 Shanghai -200052, PRC Phone: +60 3 83135200 Phone: +86 21 52581540 Fax: +60 3 83135201 Netherlands Antilles Fax: +86 21 52581541 NIIT Antilles N.V. MIDDLE EAST Landhuis Joonchi INDIA Bahrain Kaya Richard J. Beaujon Z/N Registered Office NIIT Middle East WLL P.O. Box 837, Curacao NIIT Limited 5th Floor, Chamber of Commerce Netherlands Antilles B-234 Okhla Ind. Area Building Phone: +599 9 736 6277 Phase-1, New Delhi 110020 PO Box 710, Manama Fax: +599 9 736 6161 India Kingdom of Bahrain Phone: +91 11 41407000 Phone: +973 17 224807 Canada Fax: +91 11 26817344 Fax: +973 17 227443 Element K Canada, Inc. Website: www.niit.com 199 Bay Street, Suite 2800 AFRICA Toronto, ON M5L 1A9, Canada Corporate Office Mauritius Phone: +585-240-7500 NIIT Limited NIIT GC Ltd. Fax: +585-240-7760 85, Sector 32, Institutional Level 6, One Cathedral Square Gurgaon 122 001, India Jules Koenig Street Phone: +91 124 4293000, Port-Louis Fax: +91 124 4293333 Mauritius Phone: +230 207 1000 Fax: +230 208 7949 Annual Report 2008 - 09 NIIT Limited Registered Office: NIIT Limited, B-234, Okhla Ind. Area Phase-1, New Delhi 110020. India, Phone: +91 11 41407000, Fax: +91 11 26817344 OUR VISION VALUES, MOTIVES AND BELIEFS WE, NIIT, BELIEVE THAT OUR GROWTH IS THE DERIVATIVE OF THE GROWTH OF EACH ONE OF US. IT IS THE DUTY OF EACH ONE OF US TO ESPOUSE AND GIVE ACTIVE EFFECT TO THE VALUES, MOTIVES AND BELIEFS WE STATE HERE • NIIT IS PEOPLE WE HAVE POSITIVE REGARD FOR EACH ONE OF US • WE WILL FOSTER CAREER-BUILDING BY CREATING OPPORTUNITIES THAT DEMAND LEARNING, THINKING AND INNOVATION FROM EACH ONE OF US. • WE EXPECT EACH OF US TO CONTRIBUTE TO THE PROCESS OF ORGANISATION BUILDING AND THUS DERIVE PRIDE, LOYALTY AND EMOTIONAL OWNERSHIP. • WE RECOGNISE THE NECESSITY OF MAKING MISTAKES AND RISK-TAKING WHEN IT CONTRIBUTES TO THE LEARNING, INNOVATION AND GROWTH OF EACH ONE OF US. • NIIT IS QUALITY AND VALUE EACH OF US WILL ENSURE THAT IN ANY ASSOCIATION WITH SOCIETY, SOCIETY BENEFITS SUBSTANTIALLY MORE THAN: (A) WHAT SOCIETY GIVES TO US. (B) WHAT SOCIETY WOULD GAIN FROM ANY OTHER SIMILAR ASSOCIATION • WE WILL MEET ANY AND EVERY COMMITMENT MADE TO SOCIETY IRRESPECTIVE OF ANY COST THAT MAY HAVE TO BE INCURRED. • WE WILL ENSURE OUR PROFITABILITY, LONG-TERM GROWTH AND FINANCIAL STABILITY, THROUGH THE PROCESS OF DELIVERING THE BEST, BEING SEEN AS THE BEST AND BEING THE BEST. • WE WILL BE FAIR IN ALL OUR DEALINGS AND PROMOTE HIGH STANDARDS OF BUSINESS ETHICS. • NIIT IS A MISSION WE WILL GROW IN THE RECOGNITION AND RESPECT WE COMMAND, THROUGH PIONEERING AND LEADING IN THE EFFECTIVE DEPLOYMENT OF TECHNOLOGY AND KNOW-HOW. • WE WILL SEEK TO PLAY A KEY-ROLE IN THE DIRECTIONS AND DEPLOYMENT OF TECHNOLOGY AND KNOW-HOW FOR THE BENEFIT OF MANKIND. n Sona Printers Pvt. Ltd. F-86/1 Okhla Ph. 1, New Delhi-20 NIIT Limited n ANNUAL REPORT 2008-09 Contents Page No. Corporate Information 4 Financial History 5 NIIT at a Glance 6 Directors’ Report 8 Management Discussion and Analysis 17 Corporate Governance Report 4 Accounts of NIIT Limited 49 Statement of Subsidiary Companies 92 Consolidated Accounts of NIIT Limited (Group) 9 Proxy Form and Attendance Sheet 15 NIIT Limited n CORPORATE INFORMATION Board of Directors Rajendra S. Pawar Chairman and Managing Director Vijay K. Thadani Chief Executive Officer & Whole-time Director P. Rajendran Chief Operating Officer & Whole-time Director Subroto Bhattacharya Director Surendra Singh Director Shardul S. Shroff Director Sanjay Khosla Director Company Secretary & Legal Counsel Parveen Jain Group Chief Financial Officer Ashok Arora Chief Financial Officer Jitender Mahajan Auditors Price Waterhouse Banks ICICI Bank Limited Indian Overseas Bank Standard Chartered Bank Limited Citibank NA Wachovia Bank of Georgia Registered Office NIIT Limited B-234 Okhla Phase - I New Delhi 110 020, India Email (Investor Services): [email protected] Tel : +91-11-41407000 Fax : +91-11-26817344 Corporate Office NIIT House 85, Sector 32, Institutional Gurgaon 122 001, India Email: [email protected] Tel : +91-(124)-4293000 Fax : +91-(124)-4293333 Registrar and Share Transfer Agent Alankit Assignments Ltd. Unit - NIIT Limited Alankit House 2E/21, Jhandewalan Extn. New Delhi-110055, India Tel : +91-11-23541234, 42541234 Fax : +91-11-42541967 Website www.niit.com NIIT Limited n FINANCIAL HISTORY REVENUES & PROFITABILITY (Rs. Mn) For the Fiscal period ended 31-Mar-05 31-Mar-06 31-Mar-07 31-Mar-08 31-Mar-09 Global Revenues (NIIT & its subsidiaries) 3,984 4,07 7,91 10,068 11,486 REVENUES OF NIIT LTD. 2,871 3,449 4,008 4,97 ,79 Operating Expenses 2,497 2,874 3,32 4,112 4,649 Interest & Finance Expenses 11 43 0 74 108 Depreciation 19 238 314 38 402 Profit Before Tax 168 294 319 431 63 Profit After Tax 160 270 329 328 472 Equity Dividends 106 116 143 214 214 Earnings Per Share (Rs.) * - Basic 8.26 13.97 16.97 2.02 2.86 Operating Margin (%) 13.0 16.7 17.0 17.3 19.8 Profit Before Tax / Revenues (%) .9 8. 8.0 8.7 11.0 Return on Capital Employed .3 7.7 8. 9.0 9.9 ASSETS & LIABILITIES (Rs. Mn) As At 31-Mar-05 31-Mar-06 31-Mar-07 31-Mar-08 31-Mar-09 Sources of Funds Equity Capital 193 193 198 329 330 Reserves & Surplus 2,38 2,69 2,896 3,308 3,18 Loan Funds 00 1,19 1,340 813 1,987 Deferred Tax Liability Total 3,231 4,083 4,434 4,450 5,835 Applications of Funds Gross Block (includes Capital Work in Progress) 1,878 2,21 2,630 2,870 3,84 Net Block (includes Capital Work in Progress) 74 94 1,18 1,208 1,92 Investments 1,487 1,46 1,702 1,78 1,848 Deferred Tax Assets 20 77 9 62 Current Assets 1,811 2,78 2,846 2,991 4,074 Current Liabilities 821 1,10 1,349 1,629 2,102 Net Current Assets 990 1,63 1,497 1,362 1,972 Miscellaneous Expenditure Total 3,231 4,083 4,434 4,450 5,835 Debt-Equity Ratio 0.18 0.41 0.43 0.22 0.2 Current Ratio 2.21 2.0 2.11 1.84 1.94 Fixed Asset Turnover 1.3 1.6 1.2 1.73 1.62 Receivable Days 137 16 144 100 119 Dividend per share (Rs.) .0 6.00 6.0 1.30 ** 1.30 ** Book value per share (Rs.)* 141 149 17 22 23 Share Price on Closing date (BSE) (Rs.) 182 296 66 98 20.2 Market Capitalisation (Rs. Mn) 3,10 ,728 13,138 16,141 3,341 Notes: * Based on Equity outstanding as on Balance Sheet date ** Based on the Face value of Rs. 2 per share NIIT at a Glance Global Learning Solutions for Individuals, Enterprises, Schools and Colleges Global student strength of 5 million Presence in 40 countries worldwide Largest Learning Content Development facility in the world • For Individuals Instructor-led Training, Computer-based Training and e-Learning programmes: GNIIT for IT careers ‘NIIT Edgeineers’, a range of specialized programmes to provide cutting-edge career for engineering graduates and IT professionals NIIT GlobalNet+, specialised programmes on Networking and Infrastructure Management Degrees in alliance with Universities SWIFT for Internet and IT literacy Board exam preparation solutions Bioinformatics and Educational Technology programmes Executive Management Programmes for working professionals, from premier business schools through NIIT Imperia, Centre for Advanced Learning Training programmes for financial services sector from NIIT Institute of Finance, Banking & Insurance (IFBI) NIIT Uniqua, Centre for Process Excellence, addresses the increasing demand for skilled workers in the business and technology services industry by providing training programs in relevant areas. This is a part of NIIT Institute of Process Excellence, a NIIT-Genpact venture. Facilitate scholarship programmes through Bhavishya Jyoti Scholarship initiative • For Corporations Enterprise Learning Solutions: Instructor-led and e-Learning Training in IT and Soft Skills Advisory Services Custom Content Development Application and Process Rollout Training Learner Management Systems Learner Support Services A suite of catalogue products from Element K Assessment and Testing services from NIIT Litmus English language testing and assessment services through ETS English language training from Evolv • For Colleges and Universities Curriculum Design Custom Courseware Development Learning Delivery, Hosting Services Learner and Faculty Support Services Student Administration In-campus IT Programmes • For Government and Private Schools Integrated solutions for computer and computer-aided education for K-12 learners NIIT eGURU - a holistic school education package comprising of: – MathLab - an innovative concept to teach and learn Mathematics in schools – IT Wizard - equips the students with core computer knowledge and IT skills – Quick School - an Education Resource Planning solution for school management – Smart Science Station - a pioneering solution which integrates Science Labs with classrooms – ICR - The Interactive Classrooms is a revolutionary new solution from NIIT that uses the most appropriate technologies to impact the teaching and learning processes in a classroom.
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  • MIC at NIIT University
    Press Release NIIT University announces the launch of Microsoft Innovation Center Signs Agreement aimed at building technical skills and fuelling innovation among students New Delhi, November 14, 2013: Established with a vision to bring about innovation in higher education and learning in emerging areas of the knowledge society, the not-for-profit NIIT University (NU) has announced the launch of a Microsoft Innovation Center (MIC) on its campus in Neemrana. A Collaboration Agreement was signed today to formalize the partnership between Microsoft and NIIT University in the presence of Vijay Thadani, Co-Founder, NIIT University, Dr. Rajendra Pandey, President, NIIT University and Bhaskar Pramanik, Chairman, Microsoft Corporation (India) Private Limited. Under this Agreement, Microsoft will collaborate with NU to facilitate setting up Microsoft Innovation Centre (MIC) with an aim to foster the spirit of innovation and entrepreneurship amongst University students, by helping them apply their knowledge and technological know-how to real life problems and thus open employment and entrepreneurship avenues for the students. Speaking on the occasion Mr. Vijay Thadani, Co-founder, NIIT University said, “The unified purpose of promoting a research centric approach, for developing skilled manpower for the Global IT Industry has brought NIIT University and Microsoft together, to launch Microsoft Innovation Center at our University campus in Neemrana. Through this initiative we aim to foster the spirit of innovation and entrepreneurship in our students.” Microsoft Innovation Centers (MICs) are state of art technology facilities for collaboration on innovative research, technology or software solutions, involving a combination of government, academic and industry participants. While each center tunes its programs to local needs, they all provide similar content and services designed to accelerate technology advances and stimulate local software economies through skills and professional training, industry partnerships and innovation.
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