KK Singh, CMD, Rolta says last year the company gave a guidance of 15 percent, but mid-year it upped it to 25 percent. This year as of now it has a 15-20 percent guidance on topline and bottomline, which will be reviewed again later
We are the only company who has ready indigenous software
K K Singh
CMD
Rolta India
Rolta along with Bharat Electronics has formed an exclusive consortium for a government of India project in the defence sector. Few companies were shortlisted for the project and Rolta was one of them. It is the largest command and control programme estimated to be worth over Rs 50,000 crore (USD 8.3 billion).
KK Singh, CMD, Rolta says the company will provide software services in the joint venture for the defence project. At the moment, the sector contributes around 18-20 percent of the company's revenues. But he expects it to go up to 30-40 percent of revenue in the next few years. He expects a pilot project for the defense order in the next 6-8 months.
Also Read: Focusing on big data analytics, defense, 3D modeling: Rolta
The IT solutions provider's total income jumped 46.8 percent in the January-March quarter QoQ to Rs 1114.7 crore versus Rs 759.1 crore. The company's EBITDA was down at Rs 281.3 crore against Rs 285 crore.
Last year the company gave a guidance of 15 percent, but mid-year it upped it to 25 percent. This year as of now it has a 15-20 percent guidance on topline and bottomline, but it will be reviewed once again going ahead, says Singh.
Defense sector traditionally provided for 18-20 percent of Rolta's total revenues. But going ahead, Singh expects the sector to contribute 30-40 percent of revenues.
Below is the verbatim transcript of KK Singh's interview with Ekta Batra & Sonia Shenoy on CNBC-TV18.
Ekta: Before getting to numbers there is some news regarding Rolta being in a consortium with Bharat Electronics to bid for a project which is worth over 50,000 crore from the government focused on the defence sector. Can you give us more details on this?
A: This is a large defence project which is a 'Make India' project and few companies were shortlisted to bid for this and we were among that and we have bid in consortium with Bharat Electronics which is a leader in their line. They will be providing the communication equipments and many other things which are required for this and we will be providing the software which we have been doing for almost 20 plus years for defence. So, we have tremendous amount of experience and lot of command and control (C2) software has already been used in the country and there is a requirement that this should be totally indigenous software. So, we believe that we are the only company who has ready indigenous software, which can be provided and so we are very hopeful and bullish that this will be a great opportunity for us and we will be able to serve the country well.
Stay tuned for more…
Rolta stock price
On May 26, 2014, at 14:14 hrs Rolta India was quoting at Rs 102.30, up Rs 11.90, or 13.16 percent. The 52-week high of the share was Rs 108.45 and the 52-week low was Rs 50.00.
The latest book value of the company is Rs 157.74 per share. At current value, the price-to-book value of the company was 0.65.
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