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Nucleus Software FY14 Results – Growth Momentum Driven by Strategic Initiatives

May 5, 2014 | Press Release
New Delhi, 5 May, 2014: Nucleus Software Exports Limited, a leading global software product and solutions company delivering consistent value to mission critical business processes of banking and financial services sector, today reported its consolidated results for the financial year ended March 31st , 2014.

Commenting on the company’s performance, Mr. Vishnu R. Dusad, CEO, Nucleus Software, said, “FY14 has been a remarkable year for Nucleus Software. We continued our focus on product innovation and organizational transformation. Some of the highlights this year were the recent launch of our integrated transaction banking product suite FinnAxiaTM , geographical expansion into new markets like Australia and talent acquisition at various levels. As a result, we have registered revenue and profitability growth throughout FY14. To sustain this growth momentum, we will continue investing in new products, market expansion and integrated talent development in FY15. In the year to come, customer centricity will continue to be a key driver in Nucleus Software’s commitment to deliver value and growth”.

CONSOLIDATED REVENUE FOR THE YEAR ENDED MARCH 31, 2014

  1. Revenue for FY 14 stood at Rs. 346.22 crore, a Y-o-Y growth of 18%, from software products and solutions in comparison to Rs. 293.76 crore in the previous year.
  2. Product business revenue for the year at Rs. 237.96 crore in comparison to Rs. 197.68 crore in the previous yea
  3. EBIDTA at Rs. 66.58 crore in comparison to Rs. 45.90 crore in the previous year. 
  4. Net Profit after Tax (PAT) stood at Rs. 64.34 crore in comparison to Rs. 45.17 crore in the previous year, a Y-o-Y growth of 42%. 
  5. Earnings Per Share (EPS) for the year at Rs. 19.87 in comparison to Rs. 13.95 in the previous year. 
  6. A final dividend has been recommended at 30% (Rs. 3.00 per share) against 30% (Rs. 3.00 per share), in the previous year. The Board also recommended a special dividend of 30% (Rs. 3.00 per share) on account of completion of 25 years of the Company. 
  7. Cash and cash equivalents, investments in debt schemes of mutual funds and tax free PSU bonds are Rs. 322.50 crore as on March 31, 2014, as against Rs. 266.91 crore as on March 31, 2013.
CONSOLIDATED RESULTS FOR THE QUARTER ENDED MARCH 31, 2014
  1. Consolidated revenue at Rs. 87.69 crore from software products and software development services in comparison to Rs. 73.44 crore in the corresponding quarter of the previous year.
  2.  Product business revenue for the quarter at Rs. 59.12 crore in comparison to Rs. 49.61 crore in the corresponding quarter of the previous year.
  3.  EBIDTA for the quarter at Rs. 20.10 crore in comparison to Rs. 12.26 crore in the corresponding quarter of the previous year.
  4. Net Profit after Tax (PAT) increased to Rs. 18.84 crore from Rs. 10.45 crore in the corresponding quarter of the previous year.
  5. Earnings Per Share (EPS) for the quarter at Rs. 5.82 in comparison to Rs. 3.23 in the corresponding quarter of the previous year.
BUSINESS HIGHLIGHTS
  1. Nucleus Software successfully launched the integrated transaction banking product suite, FinnAxiaTM in Singapore. This functionally rich, market ready product suite has been tested globally and has successfully delivered business value.
  2. Expanding its global foot print, Nucleus Software entered into the major financial hub, Australia, through a wholly owned subsidiary.
For the Quarter Ended March 31, 2014
  1. Won 2 new product orders worldwide
  2. 3 new customers added 
  3. Won orders for 14 product modules in this quarter 
  4. 13 product modules successfully implemented across regions
For the Year ended March 31, 2014: -
  1. Won 14 new product orders worldwide
  2. 9 new customers added
  3. Won orders for 39 product modules in FY 13-14
  4. 51 modules implemented in FY 13-14
Global strength of employees as on March 31, 2014 is 1520

BUILDING CAPABILITIES FOR FUTURE 

With the objective to gear up for rapid growth, transformational initiatives are underway focused on enhancing customer experiences. Product innovation is at the core of this transformation, with Nucleus Software offering robust and market ready products.

“Nucleus Software is on a growth trajectory tracked over FY2014. The healthy growth rate posted by the company is a reflection of our commitment towards providing world class products to our customers. We have experienced market success with the mobility platform of our award winning FinnOneTM Lending suite and FinnAxiaTM . Going forward, we will sharpen our focus on product innovation capabilities, market reach and seamless implementation operations to strengthen our leadership position”, said Mr. Vishnu R. Dusad, CEO, Nucleus Software.

As part of the transformational initiatives, Nucleus Software continues to invest in strengthening the global sales and marketing backbone and building talent as the foundation for growth.

AWARDS AND RECOGNITION (FY 2013-2014)
  1. Nucleus Software’s FinnOne TM has again been ranked as the Global No. 1 Lending Software solution for the sixth consecutive year by IBS Publishing, UK in their Sales League Table 2014.
  2. Annual Report including the financial statements of the Company for the year ended March 31, 2013, was inducted into the coveted Hall of Fame by the Institute of Chartered Accountants of India, in the category, Service sector (other than financial services) with turnover less than Rs. 500 crore, of the ‘ICAI Awards for Excellence in Financial Reporting’ for the year 2012-13.
  3. Nucleus Software declared winner of “Best Corporate Governance - India - 2014”, of the World Finance Corporate Governance Awards – 2014.
  4. Nucleus Software awarded at the Corporate Affairs Forum & Awards for 2nd consecutive year under the category Financial & Investor Relations Award – 2013 organized by World CSR Congress.
  5. Nucleus Software’s Online Annual Report for the year ended March 31, 2013 has won the Platinum award for excellence within the Industry Technology-Software category and has been ranked 15th worldwide in the Top 50 Annual Reports in the Vision Awards by the League of American Communications Professionals (LACP).
INVESTOR CONFERENCE CALL INFORMATION
On 5 th May, 2014, the management team at Nucleus Software including Chief Executive Officer and Managing Director, Mr. Vishnu R. Dusad will participate in a conference call for Investors and Analysts at 4.00 PM IST

Details of the Earnings Conference Call are given below:
Date May 05, 2014
Time 4:00 PM IST
Participant PIN 90812783#
India National Toll Free Number 18004192425
Local Dial In Access Numbers Delhi/NCR : 011- 39406000/ 44121100
Mumbai:  022- 60005900/ 39406000
Kolkata : 033- 39406000/ 44121150
Chennai: 044- 60005900/ 39406000

The audio and transcript of this conference call will made available at the Investor section of the website www.nucleussoftware.com 

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