Intellect Design Arena Ltd, a Specialist in applying true Digital Technologies across Banking & Insurance, announced its fourth quarter and annual results for FY 2014- 15 today. Intellect drives some of the most successful digital strategies across Global Consumer Banking, Global Transaction Banking, Risk & Treasury Management and Insurance.
Intellect strongly differentiates itself in the global market place with Digital 360, its holistic approach to accelerate digital transformation programs. The ‘Digital Outside’ strategy is totally customer-facing and anchored around ensuring the same experience at all customer touch points. The ‘Digital Inside’ strategy is synonymous with lean operations and anchored around connecting all customer journeys to integrated process orchestration and centralized risk management.
Designed at FT 8012, the World’s first Design Center dedicated to Financial technologies, Intellect’s product suite comes with a true digital edge. So the company is well positioned to accelerate digital renovation of banks & insurance companies and ensure a dramatic shift from disjointed digital activities to strategically aligned digital outcomes.
Intellect Design Arena was listed in the National Stock Exchange & Bombay Stock Exchange on Dec 18, 2014. The company’s revenues grew 14% in the last fiscal and have crossed the Rs. 600 Cr mark. Intellect’s sophisticated digital products find ready acceptance in advanced markets, reflected in the company’s revenue distribution with over 47% of annual revenues from the US and Europe.
For the year ended 31st March, 2015:
For the quarter ended 31st March, 2015:
Intellect has seen significant traction in the global market place for its truly digital technology platforms that are being applied across lines of businesses in banking & insurance. Signature wins in this space include:
1. One of the top Canadian banks chose Intellect’s Digital Payment Platform.
2. Swedish Central bank, Sveriges Riksbank chose Intellect Central Banking Core Platform
3. Mashreq bank, a leading Middle East bank implemented our complete digital global transaction banking platform
4. The Reserve Bank of India (RBI) extended our Digital platform for its Treasury and all citizen payments
5. True Omnichannel Retail banking eXchange went live in a large bank in the Middle East.
Management Statement
Arun Jain, Chairman and Managing Director, Intellect Design Arena Limited said, “I am happy to note we are emerging as a Partner of Choice for Digital Transformation in banks and insurance companies on the strength of our Truly Digital Technologies. We are applying these technologies to address major customer pain points in Consumer Banking, Transaction Banking, Risk & Treasury Management & Insurance. Customers are benefitting from Digital 360, our integrated approach, supported by our domain expertise, design expertise and reliable delivery. Our healthy order book of over $ 80 Million in the digital space is real validation that our investments have been in absolutely the right direction”.
S Swaminathan, Chief Financial Officer, Intellect Design Arena Limited, said, “We have grown by 14% over the previous year, despite the consumption of management time towards the demerger from the Parent company. We are trying to carefully balance the dynamics between our investments, market opportunities and long sales cycles. Two important deals that were expected to be closed this quarter have been deferred to the next quarter. This has suppressed revenues in Q4 “.
Outlook
On the basis of a healthy sales pipeline and traction on active pursuits, the company has given a guidance of 22 – 26% revenue growth in FY 2015 – 16.
INTELLECT DESIGN ARENA LIMITED (a Polaris Group company)
Audited consolidated financial results for the fourth quarter ended March 31, 2015 prepared as per Indian GAAP
Rs. In Lakhs
|
Particulars |
QUARTER ENDED |
YEAR ENDED |
|
|
March 31,2015 |
December 31,2014 |
March 31,2015 |
|
|
INCOME |
|||
|
Gross Income from software product license and related services |
15,995.18 |
15,921.97 |
60,483.87 |
|
Income from Operations |
15,995.18 |
15,921.97 |
60,483.87 |
|
EXPENDITURE |
|||
|
Software development expenses |
8,514.27 |
8,002.62 |
30,597.47 |
|
Selling & marketing and General & Administrative expenses |
7,070.62 |
6,779.83 |
26,104.60 |
|
Total Expenditure |
15,584.89 |
14,782.45 |
56,702.07 |
|
Profit / (Loss) before interest, depreciation & amortisation |
410.29 |
1,139.52 |
3,781.80 |
|
Research & Development expenses |
3,347.61 |
3,325.60 |
12,203.58 |
|
Depreciation/Amortisation |
459.95 |
470.34 |
1,901.27 |
|
Finance Charges |
23.08 |
23.67 |
80.78 |
|
Profit / (Loss) after interest, depreciation & amortisation |
(3,420.36) |
(2,680.09) |
(10,403.83) |
|
Forex impact on Hedge accounting (AS30) |
130.40 |
81.78 |
391.08 |
|
Other Income including exceptional items |
262.17 |
1,039.33 |
1,776.19 |
|
Minority Interest / Share of profit / (loss) of Associate Companies |
113.07 |
– |
113.07 |
|
Profit / (Loss) before tax |
(2,914.72) |
(1,558.98) |
(8,123.49) |
|
Provision for taxation |
51.18 |
82.23 |
175.84 |
|
Profit / (Loss) after tax |
(2,965.90) |
(1,641.21) |
(8,299.33) |
The company has commenced its operations during the current financial year (FY 2014-15), consequently financial results for the earlier years/periods are not applicable and hence have not been disclosed.