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Nucleus Software announces FY16 Financial Results

May 5, 2016 | Press Release

New Delhi, May 5, 2016: Nucleus Software, the leading provider of lending and transaction banking solutions to the global financial services industry, today reported its consolidated results for the financial year ended March 31, 2016.

 

Consolidated revenue for the fourth quarter of FY 2016 is at Rs. 92.7 crore in comparison to Rs. 100.9 crore in the corresponding quarter of the previous year. Revenue for FY 2016 is at Rs. 348.7 crore, against Rs. 353.1 crore in FY 2015.

Mr. Vishnu R. Dusad (CEO, Nucleus Software) said, "In FY2016, we have continued to make progress on our transformation journey. We are beginning to see changes in our revenue mix - revenue from our products business is up and it now represents 75% of our business. We gained 6 new customers and we helped 28 others go-live all over the world on various modules. We continued to enhance our solutions portfolio, we launched PaySe - the world’s first offline digital cash solution designed to democratize money, we created a tailored version of FinnOne specifically for NBFCs, and we made our solutions available in the cloud”.

“It has been a rewarding quarter for us, not only did FinnOne Neo digitize the loan application process for DCB Bank but the project helped the bank win the ICONIC IDC Insights Award 2015 for ‘Excellence in Transformation’. We have been recognised among the five most significant mobile banking solution vendors by Forrester Research, Inc, and we were delighted to be recognized by Celent when we won one of their inaugural Model Bank Vendor awards for helping multiple clients achieve technology or implementation excellence. The senior management team was further strengthened with the appointment of senior sales team members in Japan. Our growth continues and I’m delighted to say that every day in 50 countries, 150,000 people working for 150 companies use our systems to support 26 million loan accounts and manage loans with a total value of $147 billion. In transaction banking just one of our customers uses our systems in 16 countries to process over $3 trillion worth of transactions each year.” he further added.

Financial Highlights:  

Consolidated results for the Year ended 31st March, 2016
- Consolidated revenue for FY 2016 stood at Rs, 348.7 crore, in comparison to Rs. 353.1 crore in the previous year

  • - Product business revenue for the year at Rs. 261.7 crore in comparison Rs. 255.6 crore in the previous year
  • - EBIDTA at Rs. 30.2 crore in comparison to Rs. 65.3 crore in the previous year
  • - Net Profit after Tax (PAT) stood at Rs. 32.5 crore in comparison to Rs. 64.7 crore in the previous year
  • - Earnings Per Share (EPS) for the year at Rs. 10.03 in comparison to Rs. 19.98 in the previous year

Consolidated results for the Quarter ended 31st March, 2016
- Consolidated revenue at Rs. 92.7 crore in comparison to Rs. 100.9 crore in the corresponding quarter of the previous year

  • - Product business revenue for the quarter at Rs. 71.8 crore in comparison to Rs. 75.4 crore in the corresponding quarter of the previous year
  • - EBIDTA for the quarter at Rs. 18.4 crore in comparison to Rs. 24.6 crore in the corresponding quarter of the previous year
  • - Net Profit after Tax (PAT) stood at Rs. 14.1 crore from Rs.20.6 crore in the corresponding quarter of the previous year
  • - Earnings Per Share (EPS) for the quarter at Rs. 4.36 in comparison to Rs. 6.37 in the corresponding quarter of the previous year

Liquidity:

Cash and cash equivalents, including investments in debt schemes of mutual funds, fixed deposits with banks and tax free PSU bonds are at Rs. 368.5 crore as on 31st March, 2016, as against Rs. 348.3 crore on 31st March, 2015.

Key highlights:                                                             

  • - During the year, 28 modules were successfully implemented including in Bank of Queensland and DCB Bank. In Q4, 3 product module implementations were completed worldwide.
  • - In FY16, we won 13 product orders including 2 in Europe, 2 in Japan, 2 in South East Asia and 7 in India. This comprises of 6 product orders in Q4 FY16.
  • - Continuing with our expansion strategy, we have added 6 new customers in the year from Europe, Japan and India
  • - We launched new solutions including PaySe™, the world’s first offline digital cash solution designed and created with an aim to democratize money. PaySe utilizes the latest advances in mobility, big data, open source and crypto currency (primarily tokenization) to deliver the world’s first secure offline peer to peer payment solution
  • - We have been recognized as one of the five most significant mobile banking solution vendors by Forrester Research, Inc. in The Forrester Wave™: Mobile Banking Solutions, Q4 2015. We also won the Model Bank Vendor 2016 Award by Celent
  • - We enhanced our transaction banking product solution, FinnAxia, when we launched a National Automated Clearing House (NACH)-compliant Direct Debit solution. This enhanced version is designed to facilitate interbank, high-volume, electronic transactions for banks, financial institutions, corporate and government departments. 

Event Highlights:  

In FY16, in 30 events on 5 continents we demonstrated how we help customers achieve their business goals. In Australia, we participated in 3 events: 2015 Customer Owned Banking Convention, 11th Annual Loan Origination Excellence Summit 2016 and the Australasian Mutuals Institute’s Industry Leaders Strategy Forum. In Amsterdam, we participated in ENG's Automotive Finance Summit. Our experts also shared their business expertise at Sibos 2015 and Global Financial Markets Intelligence’s conference in Singapore. In Africa, we participated in the 7th Annual Retail Banking Africa 2015 and West Africa International Retail Banking Dialogue 2015. We were present in ABTEC 2015 held in Middle East. In India, we participated in FIBAC 2015 and also organized a series of events for Non-Banking Financial Companies (NBFCs).

About Nucleus Software

Nucleus Software (BSE & NSE: NUCLEUS) is the leading provider of lending and transaction banking products to the global financial services industry. Its software powers the operations of more than 150 companies in 50 countries, supporting retail banking, corporate banking, cash management, internet banking, automotive finance and other business areas. Nucleus Software is known for its world-class expertise and innovation in lending and transaction banking technology. It has two flagship products, built on the latest technology:
  • FinnOneTM 10 time winner - World’s Best Selling Lending Solution. 
  • FinnAxiaTM, an integrated global transaction banking solution used by banks worldwide to offer efficient and Innovative global payments and receivables, liquidity management and business internet banking services.
Forward-looking and Cautionary Statements: For risks and uncertainties relating to forward-looking statements, please visit: http://www.nucleussoftware.com/safe-harbor.

For Media related information, please contact:

Rashmi Joshi, Nucleus Software
Email: rashmi.joshi@nucleussoftware.com
Phone: +91-9560694654