Intellect Ranked #1 in Digital Core in Retail Banking Systems and #1 in Payment Systems and #2 Digital Banking Exchange by IBS Annual Sales League Table 2017
Intellect Design Arena Ltd, a digital technology product solutions provider across banking, financial services and insurance industry, announced its fourth quarter and annual results for FY 2016-17 today.
Q4 FY 17 Financial Highlights:
Annual (FY17) Financial Highlights:
The above financial data is additional information on function wise classification of statement of Profit and Loss of the Group on a consolidated basis and is unaudited and has not been subjected to review
IBS Annual Sales League Table 2017 – the acknowledged barometer of global banking system ratings, ranked Intellect as #1 best selling Digital Core in Retail Banking Systems and #1 best selling Payment System and #2 best selling Digital Banking Exchange.
Independent Research Firm, Forrester Research Inc ranked Intellect as ‘Global Pursuer’ and a ‘Global Player’ in 2017 for new-named clients and combined deals (new and existing clients )
Some of the other significant recognitions by renowned global analysts and research firms are:
Arun Jain, Chairman and Managing Director, Intellect Design Arena Limited said, “Intellect brand has established its roots as an independent brand with trusted products, impeccable deliveries and wider reach of sales network. Intellect has been recognized as #1 in Retail banking Systems, #2 in Digital banking exchange, #1 in Payment Systems worldwide by IBS Intelligence, among the crowded competition. This has provided right kind of tail winds for our journey. I would like to thank each Intellect associate who has contributed in this journey of transformation by applying Design Thinking in building Digital products for financial industry worldwide. I also take this opportunity to thank all the shareholders and Analysts who trusted Intellect’s Vision.”
S Swaminathan, Chief Financial Officer, Intellect Design Arena Limited, said, “We are happy to observe that the efforts made in the last couple of quarters have resulted in driving revenue growth, accelerating collections and managing cost better. The above has contributed in delivering positive EBITDA as well positive PAT in Q4 FY 17 in addition to reduction in DSO.”
Intellect went live in financial institutions across the world. The significant implementations in FY 17 include:
The board had already approved the raising of funds through issue of equity shares to the existing shareholders of the Company on a rights basis. The company has filed the “Draft Letter of offer” for the Rights Issue and it has received the final observation letter from SEBI.
Additional Information on function wise classification of statement of Profit and Loss of the Group(Consolidated Unaudited / Not Reviewed)
Rs. In Lakhs
PARTICULARS |
QUARTER ENDED |
YEAR ENDED |
||
March 31, 2017 |
December 31, 2016 |
March 31, 2017 |
March 31, 2016 |
|
INCOME |
||||
Income from software product license and related services |
250,35.15 |
226,45.69 |
913,57.50 |
810,65.55 |
EXPENDITURE |
||||
Software development expenses |
124,65.39 |
121,98.69 |
463,26.00 |
395,00.01 |
Selling & marketing and General & Administrative expenses |
85,59.52 |
101,09.54 |
391,02.94 |
330,50.24 |
Research & Engineering expenses |
16,73.69 |
19,75.99 |
71,92.08 |
106,29.77 |
Provision for Debts and Write offs |
7,72.14 |
2,09.02 |
12,33.16 |
9,79.62 |
Total Expenditure |
234,70.74 |
244,93.24 |
938,54.18 |
841,59.64 |
EBITDA |
15,64.41 |
(18,47.55) |
(24,96.68) |
((30,94.09) |
Depreciation/Amortisation |
6,00.58 |
6,12.04 |
24,13.99 |
20,77.11 |
Finance Charges |
4,02.50 |
3,25.96 |
11,30.24 |
1,19.22 |
Profits / (Loss) before other income / minority interest |
5,61.33 |
(27,85.55) |
(60,40.91) |
(52,90.42) |
Other Income including exceptional items |
(2,38.81) |
14,56.56 |
32,35.56 |
18,69.71 |
Minority Interest / Share of profit / (loss) of Associate Companies |
31.98 |
1,41.77 |
6,56.24 |
93.93 |
Profit / (Loss) before tax |
3,54.50 |
(11,87.22) |
(21,49.11) |
(33,26.78) |
Provision for taxation |
7,05.87 |
(3,69.50) |
(2,83.63) |
9,06.32 |
Profit / (Loss) after tax |
10,60.37 |
(15,56.72) |
(24,32.74) |
(24,20.46) |
About Intellect Design Arena Limited
Intellect Design Arena Ltd, a digital technology product solutions provider to the Banking, financial services and Insurance industry, across Global Consumer Banking (iGCB), Central Banking, Global Transaction Banking (iGTB), Risk, Treasury & Markets (iRTM) and Insurance (Intellect SEEC). Intellect has created digital products & solutions for Banking and Insurance. FinTech 8012, a design centre for financial technology, reflects Intellect’s commitment to continuous and impactful innovation, addressing the growing need for digital transformation. With over 200 implementations, the company’s performance is driven by over 4,000 Intellect solution architects, functional and technology experts, with a presence in global financial hubs around the world and supported by design centres in multiple geographies. Please visit https://www.intellectdesign.ca/
Disclaimer
‘Intellect Design Arena Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an rights issue of its equity shares and has filed a Draft Letter of Offer (DLOF) with the Securities and Exchange Board of India. The Draft Letter of Offer is available on the website of the SEBI at www.sebi.gov.in as well as on the website of the Lead Manager at www.sparkcapital.in Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, see the section entitled ‘Risk Factors’ of the LOF, when available. Potential investors should not rely on the DLOF for any investment decision.’