nucleus software exports
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nucleus software exports ltd recommends dividend of rs. 8... ...
you can view full text of the director' s report for nucleus software exports ltd .
nucleus software exports limited (consolidated) includes the parent company, nucleus software exports ltd. (the company) and its subsidiaries and branches worldwide, collectively referred to as group .
the company history page lists out the major events in chronological order for nucleus software exports ltd .
nucleus software: nucleus software announces q3 fy 2018 results, revenue grew at 13. 8% yoy
nucleus software exports disclosures under reg. 29 (2) of sebi (sast) regulations, 2011
nucleus software exports ltd board to consider first quarter results on july 17, 2018... ...
nucleus software is a provider of lending and transaction software for banks and financial institutions. nucleus software was founded in 1986. nucleus software' s headquarters is located in noida, uttar pradesh, in 201307. nucleus software' s ceo, vish ...
2014 nucleus software win the asian banker technology implementation awards 2014 for
best lending platform implementation. nucleus software exports ltd won the best corporate governance – india – 2014 .
management' s discussion and analysis of financial condition and results of consolidated operations of nucleus software exports ltd. and subsidiary companies
* nucleus software exports ltd - sept quarter net profit 136. 8 million rupees versus profit 45. 4 million rupees year ago
nucleus software is a provider of lending and transaction software for banks and financial institutions. nucleus software is a public company. vishnu r. dusad is the ceo of nucleus software and has an approval rating of 63 from owler members. nucleus software' s main competitors are nextgen, rubik and sandstone technology. nucleus software has 1, 996 followers on owler .
nucleus software exports limited is an indian global it products and solutions company serving the banking and financial services sector for the past 27 years .
nucleus software' s ceo, vishnu r. dusad, currently has an approval rating of 63% . nucleus software' s primary competitors are
2012 nucleus software' s finnone ranked best selling lending solution across the globe. nucleus software ranked the best for online annual report by ir global rankings
owler has collected 10 screenshots of nucleus software' s website since may 2014. the latest nucleus software website design screenshot was captured in jan 2018 .
nucleus software exports limited (standalone) which excludes the performance of subsidiaries of the company has been discussed in the earlier part of this annual report .
nucleus software exports limited (consolidated) including performance of subsidiaries of nucleus software, discussed in this chapter. this consolidated presentation is more relevant for understanding the overall performance of the group especially as intercompany transactions are eliminated being contra .
nucleus software currently has 804 followers on twitter. as of december 2014 nucleus software had 426 followers. that' s a 88 percent increase in 3 years
nucleus software exports limited (standalone) which excludes the performance of subsidiaries of the company, has been discussed in the earlier part of this annual report .
nucleus software conferred the best independent software vendor (isv) partner (north india for 2008) award by ibm .
nucleus software awarded for being the fastest growing isv in 2007 by oracle corporation .
nucleus software' s q3 net soars 90% at rs 23. 38 cr
nucleus software' s q2 net up 8% at rs 10. 94 crore
nucleus software recognized under “best practices” for performance management system by nasscom, 2008 .
software exports limited (consolidated) which also includes performance of subsidiaries of nucleus software. this consolidated presentation is more relevant for understanding the overall performance of the group especially as intercompany transactions are eliminated being contra .
nucleus software' s q1 net profit up 4% at rs 11. 65 crore
nucleus software limited, india. 10, 000, 000 equity shares of 10 each
less: provision for diminution in value of investment in nucleus software inc. , usa
nucleus software currently has 5, 212 fans on facebook. as of february 2015 nucleus software had 3, 605 fans. that' s a 44 percent increase in 3 years
2011 nucleus software wins gold shield for excellence in financial reporting, 2010 by institute of chartered accountants of india (icai )
.
nucleus software' s finnone is world' s no. 1 leading software for the third consecutive year
nucleus software ranked amongst top 5 indian companies for corporate governance
nucleus software recognized under
best practices
for performance management system by nasscom, 2008 .
nucleus software japan kabushiki kaisha, japan. 200 equity shares of jpy 50, 000 each
nucleus software blog
frictionless
onboarding for corporate customers - reality or a ...
nucleus software blog revised payment services directive (psd2): pipeline to european ...
nucleus software exports ltd. , incorporated in the year 1989, is a small cap company (having a market cap of rs 1120. 83 crore) operating in information technology sector .
nucleus software ranked amongst india' s top 15 exciting emerging companies to work for by nasscom .
nextgen is the biggest rival of nucleus software. nextgen is headquartered in north sydney, new south wales, and was founded in 1993. nextgen generates 28% the revenue of nucleus software .
* nucleus software exports ltd - sept quarter total income from operations 956 million rupees versus 846. 8 million rupees year ago source text - (urltoken) further company coverage: (bengaluru newsroom )
software exports limited (standalone) which excludes the performance of subsidiaries of the company, has been discussed in the earlier part of this annual report .
nucleus software conferred with oracle partner of the year award in fusion middleware category at an apac level .
nucleus software netherlands b. v. , netherlands. 4, 000 equity shares of euro 100 each
nucleus software, a leading lending and transaction banking solutions provider, today announced that... .
nucleus software, the leading provider of lending and transaction banking solutions to the global fin ...
nucleus software announced its financial results for the quarter and nine months ended 31st december, ...
nucleus software australia pty. ltd. , australia. 100, 000 equity shares of aud 1 each
nucleus software solutions pte. ltd. singapore. 625, 000 equity shares of s $ 1 each .
nucleus software, the leading provider of lending and transaction banking solutions to the global fi... .
( the paypers) nucleus software has announced the latest version of its transaction banking solution c ...
nucleus software inc. , usa. 1, 000, 000 shares of us $ 0. 35 each
nucleus software limited, india. 10, 000, 000 equity shares of rs. 10 / - each
less: provision for diminution in value of investment in nucleus software netherlands b. v. , netherlands .
nucleus software adjudged as one of the fastest growing companies in asia pacific under deloitte technology fast 500 - 2007 .
nucleus software inc. , usa. 1, 000, 000 shares of us $ 0. 35 cents each
nucleus software blog is the bank back office the key to unlock the next wave of growth and ...
nucleus software solutions pte. ltd. , singapore. 625, 000 equity shares of s $ 1 each .
nucleus software is the stock in focus after they reported a strong set of q3 numbers. in an intervie ...
nucleus software exports provides innovative and pioneering products and software solutions since 1986. it provides software solutions to the banking, financial services industry (bfsi). for over 20 years, it has developed solutions spanning from retail banking to corporate banking, cash management, internet banking and credit cards. finnone, the flagship product of nucleus software is a comprehensive suite for retail banking applications comprising modules like customer acquisition system, loan management, delinquency and recovery management, deposits and finance against securities .
nucleus software exports ltd. key products / revenue segments include software development (domestic) which contributed rs 199. 68 crore to sales value (66. 70% of total sales) and software development (overseas) which contributed rs 99. 66 crore to sales value (33. 29% of total sales) for the year ending 31 - mar - 2017 .
hdfc bank, nucleus software customer, won the prestigious celent 2010 model bank award for its loan origination system, finnone tm .
rubik is nucleus software' s # 2 competitor. rubik is a public company that was founded in sydney, new south wales in 2007. rubik is in the diversified financial services industry. rubik has 1, 511 more employees vs. nucleus software .
nucleus software has employees and is the first highest among it' s top 10 competitors. the top 10 competitors average 224 .
in the midst of technological advances, financial companies are struggling to match ambitious customer expectations without first partnering with software solution providers. nucleus software believes that cross - industry programs are key to profit building
the buyback offer from nucleus software exports will open on august 16 and end on august 31. the company plans to buy back up to 33. 43 lakh equity shares at a price of ₹350 a share via tender offer. the company had fixed june 30 as record date to identify eligible shareholders to participate in the buyback. the promoters / promoter groups of the company do not intend to participate in the proposed buyback. shares of nucleus software exports slipped 0. 7 per cent at ₹280. 25 on the nse .
sandstone technology has been one of nucleus software' s top competitors. sandstone technology' s headquarters is in north sydney, new south wales, and was founded in 1996. sandstone technology competes in the banks field. sandstone technology generates 37% of nucleus software' s revenue .
nucleus software ranked 13th in dataquest top 20 best employers survey 2006. survey was conducted by idc - dataquest amongst 200 it employers across india .
nucleus software' s revenue is the second highest among it' s top 10 competitors. the top 10 competitors average $ 7. 7m .
forrester research, a leading independent analyst firm, recognized nucleus software as an industry vertical specialist in their report
working with tier two offshore providers
.
the company was incorporated on january 9, 1989 as nucleus software exports private limited with its registered office at 33 - 35 thyagraj market, new delhi, india. subsequently in october 1994, it was converted into a public limited company. in august 1995, nucleus made an initial public offer and is currently listed at national stock exchange of india ltd. , and bse ltd .
software development expenses primarily consist of compensation to our software professionals, expenses on travel to execute work at client site, direct consultancy charges, cost of software purchased for delivery to clients, bandwidth and communication expense and proportionate infrastructure charges .
nucleus software netherlands b. v. (nsbv) is based in amsterdam, the netherlands. it was incorporated in 2006 for enlarging business presence in the european market. nsbv is a business development and sales hub for nucleus in europe .
nucleus softwar closes above 50 - day moving average of 386. 78 today .
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in the previous year due to additional hiring of professionals for software development work .
paid - up share capital of the subsidiaries as on march 31, 2011 is given below. as 100% of the share capital of the subsidiaries is held by nucleus software exports limited and nominees; on consolidation of accounts, these amounts are contra with investments in subsidiaries amounts in the accounts of the parent company .
revenue from software projects and services segment during the year is rs. 76. 91
nucleus’ operations are managed through parent company based in india and well - networked subsidiaries in india, japan, netherlands, singapore and usa. all major software development takes place in
the ipo page of nucleus software exports ltd. captures the details on its issue open date, issue close date, listing date, face value, price band, issue size, issue type, and listing date' s open price, high price, low price, close price and volume. it also captures the holding period returns and annual returns .
cimb malaysia, our customer, powered by nucleus software' s finnone tm implementation, has received the process excellence award for collection and debt management at the prestigious bpa trailblazer awards .
vietnam prosperity bank' s loan origination system, powered by nucleus software' s finnone cas, lms and collections was recognized with model bank award by celent (march 2013) .
the decrease in operating and other expense for fy 2015 from fy 2014 is primarily due to decrease in software and other development charges, cost of software purchased for delivery to clients .
nucleus software japan kabushiki kaisha (nsjkk) is based in tokyo, japan. it was incorporated in 2001 to expand business in the country. nsjkk operates as a business development and sales hub for japan. additionally the subsidiary provides software development services, to the local customers in japan .
nucleus software is the leading provider of mission critical lending and transaction banking products to the global financial services industry. its software powers the operations of more than 150 customers in 50 countries, supporting retail banking, corporate banking, cash management, internet banking, automotive finance and other business areas .
nucleus provides software solutions to the banking and financial services industry. for over 20 years, we have developed solutions spanning from retail banking to corporate banking, cash management, internet banking and credit cards .
nucleus softwar closes above its 30 - day, 150 - day, 200 - day moving average today .
nucleus software awarded the “d & b - ecgc indian exporters’ excellence award” by dun & bradstreet india (d & b india) and export credit guarantee corporation of india ltd (ecgc) for the year 2007 .
nucleus software australia pty. ltd. (nsa) is based in sydney, australia. it was incorporated in 2014 for tapping the growing business opportunities in anz region. nsa operates as a business development and sales hub for the region. additionally the subsidiary provides software development services, to the local customers in australia .
nucleus software inc. (nsi) is based in new jersey, usa. it was incorporated in 1997 for providing business presence in the americas. nsi operates as a business development and sales hub for the region .
nucleus software solutions pte. ltd. (nss) is based in singapore. it was incorporated in 1994 to expand the company’s business in south east asia. currently, it is the central entity for asia - pacific excluding japan and australia with responsibility for business development, sales and software development services for customers in the region .
the company has seven subsidiary companies, all over the world, all of which are wholly - owned. as 100% of the share capital of the subsidiaries is held by nucleus software exports limited and nominees; on consolidation of accounts, these amounts are contra with investments in subsidiaries amounts in the consolidated accounts of the parent company. paid - up share capital of the subsidiaries as on march 31, 2015 is as per the below table
nucleus software awarded the
d & b - ecgc indian exporters’ excellence award
by dun & bradstreet india (d & b india) and export credit guarantee corporation of india ltd (ecgc) for the year 2007 .
finnone tm, the flagship product of nucleus, is an integrated lending software suite designed to support part or all of the end - to - end lending process of banks, finance companies, captive auto finance companies and retail businesses .
software services rendered by the company, classified under this segment, typically consist of development of software to meet specific customer requirements consisting of application development & maintenance, testing services, consulting and infrastructure management services with a strong banking domain focus .
the company has six subsidiary companies, all over the world, all of which are wholly - owned. there is also a step down subsidiary at singapore. as 100% of the share capital of the subsidiaries is held by nucleus software exports limited and nominees; on consolidation of accounts, these amounts are contra with investments in subsidiaries amounts in the accounts of the parent company. paid - up share capital of the subsidiaries as on march 31, 2013 is as per the below table .
nucleus software south africa pty. ltd. (nssa) is based in johannesburg, south africa. it was incorporated in 2015 for tapping the growing business opportunities in south african region. nssa operates as a business development and sales hub for the region .
“nucleus software delivers value and end - to - end solutions, enabling its customers to get to the markets faster. we have extremely strong relationships with our customers. going forward, we will continue working on expanding our base in new and select markets. the company comprises of an extremely passionate and diverse group of people who are working to bring cutting edge financial software products to the market. ”
provision for leave encashment represents provisions made by the company based on actuarial valuation. during the year, the company has made contributions to nucleus software employees group gratuity assurance trust, which has made further contributions to employees group gratuity scheme of life insurance corporation of india .
the top 10 competitors in nucleus software' s competitive set are nextgen, rubik, sandstone technology, polaris, misys, sopra, intelligent environments, cloud lending solutions, cr2 and newgen. together they have raised over 56. 1m between their estimated 17. 5k employees .
forrester recognized nucleus as a “global pursuer” and stated it “regained traction in 2010”. based on the number of deals and regions covered, nucleus was ranked among top banking platform providers. source: global banking platform deals 2010, forrester research, inc. , 31 march 2011 .
, the flagship product of nucleus, is an integrated suite of applications designed to support the business offerings of banks and financial services companies .
information technology is one of the most dynamic, fast - changing and fiercely competitive industries in the world, characterized by relentless cycles of innovation and commoditization. the indian it industry has been primarily identified with software services, while the software products segment has mostly remained in the background. more recently the world is observing a change in this segment growth. emerging technologies present a range of exciting new opportunities for it firms in india. according to the software product think - tank ispirt, software products could be a $ 100 billion industry in india by 2025. this affirms our faith that a new generation of indian software products will have a sizeable impact on improving productivity and the way businesses are run .
your company has set up nucleus software foundation, a trust for the purposes of undertaking csr activities of the company. this foundation, established in 2014 as a section 25 company, works towards its stated mission: “empowering underprivileged with essence of education and thereby better livelihood and better life” .
forrester recognized nucleus as a
global pursuer
and stated it
regained traction in 2010
. based on the number of deals and regions covered, nucleus was ranked among top banking platform providers source: global banking platform deals 2010, forrester research, inc. , 31st march 2011
- bob finance and finnone™ win the banking technology award 2016, bob finance ag, a financial service company in switzerland deployed nucleus software’s finnone™ for offering an innovative and completely digitized loan service. this implementation won the banking technology award 2016 - highly commended for best use of it in lending .
forrester recognized nucleus as a
global pursuer
and stated it
regained traction in 2010
. based on the number of deals and regions covered, nucleus was ranked among top banking platform providers source: global banking platform deals 2010, forrester research, inc. , 31 march 2011 .
nucleus selected as one of forbes asia' s 200 best under a billion companies, for the second consecutive year, list released in september 2008 .
the profits / losses of the subsidiary companies are fully reflected in consolidated accounts of the company and subsidiaries. the share capital of nucleus software netherlands b. v. , increased due to additional investment of € 100, 000 by the company, by way of subscribing to the equity share capital of the subsidiary .
software services rendered by the company, classified under this segment, typically consist of development of software to meet specific customer requirements. these services consist of application development & maintenance, testing, consulting and infrastructure management services with a strong banking domain focus. software projects and services revenue for the year is 97. 52 crore, 27. 62% of the total revenue, against 108. 26 crore, 31. 27% of the total revenue in the previous year .
software services rendered by the company, classified under this segment, typically consist of development of software to meet specific customer requirements. these services consist of application development & maintenance, testing, consulting and infrastructure management services with a strong banking domain focus. software projects and services revenue for the year is 31. 23 crore, 11. 19% of the total revenue, against 14. 03 crore, 5. 82% of the total revenue, in the previous year .
nucleus software is embarking on a makeover which will take it to the next level. this endeavor demonstrates our passion for perfection and relentless commitment to deliver world class products to our customers. in this journey, we have been honoured and feel grateful for having received various accolades, a few of them to list would be :
it companies have been working closely with financial services to deliver cost - effective and profitable solutions to the connected consumer, which predominantly started in india. world finance spoke to ravi pratap singh, president and head of global product management at nucleus software exports ltd, to discuss how in india, financial - related it companies are playing an essential role in bringing these services to the masses. “these are exciting and challenging times for the indian banking industry. india is definitely an important market in the global banking scenario. customers are redefining the agenda, and excellent customer service has replaced financial stability as the primary reason for maintaining banking relationships. ”
virstra i - technology services ltd. is based in pune, india. it was incorporated in 2004 to provide software development services, targeted at the japanese market .
software services rendered by the company, classified under this segment, typically consist of development of software to meet specific customer requirements. these services consist of application development & maintenance, testing, consulting and infrastructure management services with a strong banking domain focus. revenue from software projects and services has grown for the year to 96. 07 crore, 32. 70% of the total revenue for fiscal 2013 against 77. 26 crore, 27. 37% of the total revenue for fiscal 2012 .
nucleus software ltd. (nsl) has operations in jaipur with registered office in new delhi. it was incorporated in 2008 for facilitating delivery to larger clients through operations in a special economic zone. nsl acquired 17. 41 acre of land in the mahindra world special economic zone, jaipur and has co - developed a 250 - seater facility .
spearheading international coverage the company has been a leading player in the it products and services sector for nearly three decades, and is internationally renowned for being one of the early pioneers to have cemented india’s high standing in the it space. “nucleus software is committed to providing efficient and cutting edge software solutions for the banking and financial services industry across the globe. for over 27 years, we have been developing path - breaking it products and solutions for retail and corporate banking, auto finance, islamic lending, cards and cash management, ” says singh. “we are aware of not just the it products and software solution requirements, but of the overall expectations of our customers and the changing dynamics of the technology environment. ”
outsourced technical services expense have reduced due to lower outsourcing of technical work for software development. it is 10. 71 crore against 19. 88 crore in the previous financial year .
nucleus operations are managed through parent company based in india and well - networked subsidiaries in india, japan, netherlands, singapore and usa. all major software development takes place in development centres in india and singapore; the subsidiaries above and branch offices in india. korea, philippines, uae and uk provide an effective front - end of customer acquisition and servicing. at the parent company level, global responsibilities for software delivery, quality assurance, product and account management, sales and marketing, finance and human resources have been defined to achieve the objectives .
. in august 1995, nucleus made an initial public offer and is currently listed at national stock exchange of india ltd. , bombay stock exchange ltd. and madras stock exchange ltd .
your directors would like to place on record their gratitude for the co - operation received from the government of india, state governments of delhi, uttar pradesh and rajasthan, customs and excise departments, department of scientific and industrial research (ministry of science and technology), software technology park - noida, software technology park - pune, special economic zone authorities and other government agencies .
lower cost of software purchased for delivery to customers is an effect of corresponding decrease in trading revenue. it is 5. 59 crore against 7. 89 crore in the previous financial year .
the immediate challenges for financial firms, according to nucleus software, are various, but can be broken down broadly into five major areas. “financial institutions of all shapes and sizes are going through a period of strategic transformation. these institutions are attending to a wide range of issues simultaneously – some more visible and fast moving, others more fundamental and long - term, ” says singh .
if those in the financial services industry are to enhance operational efficiencies and enable profitable growth, they must first realise the importance of an improved upon it infrastructure in cutting costs and streamlining processes. it’s clear that it companies will play a large part in the sector as it marches on into the digital age. the importance of companies much like nucleus software, therefore, should not be underestimated .
during the year. these are primarily old furniture and fixtures, office equipment personal computers and software no longer in use. this retirement of assets has a small charge of rs. 5. 95
has been our ethos, and with this in mind, nucleus chose the path of investing heavily in product, which positioned us globally as a “product company” and a ‘leader’ in the global lending landscape .
ranked for the third consecutive year as the ‘world’s no 1 selling lending software product’ (for year 2010) by ibs publishing, uk | 2011 & ranked third in global sales across all banking products .
south asian federation of accountants (safa) adjudged nucleus’ annual report as the recipient of the merit position for the best presented accounts and corporate governance disclosures award 2008 under the category of corporate governance disclosure .
we are a product software company and making products is quite different from delivering services; it requires a distinctive mindset, capabilities and environment. in fy 2015 nasscom estimates that the indian it industry will account for revenues of usd 146 billion, an increase of 13 per cent over the previous year. industry exports will be more than usd 98 billion, a growth of 12. 3 per cent, while the domestic segment, which has benefited from the inclusion of ecommerce and mobile app industry, is estimated to touch usd 48 billion. software products, engineering research and development (er & d ;) and product development segments together have over 16 per cent market share (source: nasscom strategic review 2015). this makes us hopeful of the future and we work towards building a great product company .
nucleus software also expects to see new service orientated architecture emerge in banking, including cloud computing, as firms seek to identify the most effective mechanisms for componentised, service - orientated it. what’s more, the age of universal banking will soon come to an end, as basic banking activities will be split from riskier corporate and investment counterparts, and no longer share the same funding resources, liquidity and capital base .
through these efforts we continue to build a robust brand nucleus with business from all global markets, creation of an effective distribution network through partnership’s, alliances and acquisitions, seamless and high quality delivery with a high customer satisfaction rating .
currently, there is only one esop scheme prevalent in the company; esop scheme - 2015 (instituted in 2015). as per esop scheme 2015, equity shares would be transferred to eligible employees on exercise of options through nucleus software employee welfare trust, which is established to carry out activities for the benefit and welfare of its employees by launching various schemes in accordance with the securities and exchange board of india (share based employee benefits) regulations, 2014 .
annual report for the year ended march 31, 2012 won the platinum award for excellence within the technology - software industry and ranked 22nd amongst the top 100 annual reports in the vision awards by the league of american communications professionals (lacp), usa .
through these efforts we continue to build a robust brand nucleus with business from all global markets, supported through the creation of an effective distribution network of partnerships, alliances and acquisitions to achieve seamless and high quality delivery resulting in a high level of customer satisfaction .
your company’s flagship product finnone neo™ was launched on cloud and is already a success in the domestic market. by providing finnone neo™ on cloud, we are making one of the best lending software more affordable, quickly deployable and scalable as per our customer’s business requirements .
nucleus operates through integrated and well - networked subsidiaries in india, japan, netherlands, singapore, usa and australia. since 1995, product development has been our forte and the company has chosen to exclusively develop products and further add value through dedicated research and development initiatives .
the industry continues to face challenges from an hr perspective in hiring, managing and retaining talent in the current environment. only a strong global team can drive excellent performance – especially in a challenging business environment. your company’s hr function continued its focus in the strategic direction of enhancing competency and talent development for the employees. strong emphasis was laid on attracting, developing and retaining talents across the globe, through specifically designed programs. at the same time, we have also been continuously improving and strengthening our leadership team to foster a unique performance culture at nucleus software .
nucleus softwar is in the computers - software medium & small sector. the current market capitalisation stands at rs 1, 120. 83 crore. the company management includes janki ballabh - chairman, vishnu r dusad - managing director & ceo, s m acharya - ind. non - executive director, ritika dusad - non executive director, prithvi haldea - ind. non - executive director, elaine mathias - ind. non - executive director, trilochan sastry - ind. non - executive director, r p singh - executive director, n subramaniam - ind. non - executive director. it is listed on the bse with a bse code of 531209 and the nse with an nse code of nucleus. its registered office is at 33 - 35, thyagraj nagar market, , new delhi, delhi - 110003. their registrars are karvy computershare private ltd .
finnone tm is flagship product for the lending business from nucleus software. finnone tm was developed more than a decade back to serve lending need in bfsi. cash @ will tm, our existent product was developed about a decade ago to serve cash management needs of the banks while serving their corporate customers. in past few years technology & business needs have changed rapidly. to mitigate the risk of obsolescence and align with market needs, the company decided to initiate new product development; finnone tm pro gold in the lending vertical and finnone - transaction banking system in the cash management verticals of the banking space .
there are fresh additions of 7. 88 crore during the year, including 2. 38 crore of computer hardware and 4. 56 crore of software purchases. the net fixed assets after depreciation are 50. 69 crore as on march 31, 2013 against 48. 91 crore as on march 31, 2012 .
there are fresh additions of 9. 72 crore during the year, including 5. 96 crore of computer hardware and 1. 96 crore of software purchases. the net fixed assets after depreciation and including capital work in progress are 58. 95 crore as on march 31, 2015 against '61. 90 crore as on march 31, 2014 .
we, at nucleus, believe that good and effective corporate governance is critical to achieve corporate vision and mission of the organization; it is more of an organizational culture than a mere adherence to rules and regulations. law alone cannot bring changes and transformation, and voluntary compliance both in form and in substance plays an important role in developing good corporate governance .
in india and singapore; the subsidiaries above and branch offices in india, korea, philippines, uae and uk provide an effective front - end of customer acquisition and servicing. at the parent company level, global responsibilities for software delivery, quality assurance, product and account management, sales and marketing, finance and human resources have been defined to achieve the objectives .
the increase in operating and other expense for fy 2015 from fy 2014 are primarily due to increase in outsourced technical service expense, legal and professional expense, information technology expense, advertisement, business development and promotion, insurance expense and contribution to csr activities, which is partially offset by a decrease in cost of software purchased for delivery to clients, provision for bad debts and other expenses .
finnone tm, the flagship product of nucleus, is an integrated suite of applications designed to support the business offerings of banks and financial services companies. finnone tm provides solutions for both the asset as well as the liability side of the business, core financial accounting and customer service. finnone tm caters to the business needs of banks, financial institutions, captive auto finance companies and retail businesses .
as technology continues to evolve rapidly and permeate more layers of business operations, digital solutions have become an integral component of the growth roadmaps for most enterprises. packaged software was the fastest growth segment (6. 2 %) in 2016. investments are being done on applications that facilitate enterprise and it operations, such as enterprise resource management and operations & manufacturing applications, collaborative applications, saas, etc .
operating and other expense primarily consist of expenses on travel to execute work at client site and for other related activities, cost of software purchased for delivery to clients, bandwidth and communication expense, infrastructure charges, expenses on account of brand building activities, training and recruitment costs, legal and professional charges, repairs and maintenance charges, insurance, provision for doubtful debts, contribution to csr activities and others .
senior members in global delivery, sales and marketing and human resources were hired during the year. total manpower numbers stood at 1, 503 at the end of the year. through these efforts we continue to build a robust brand nucleus with business from all global markets, creation of an effective distribution network through partnership' s, alliances and acquisitions, seamless and high quality delivery with high customer satisfaction rating .
finnone neo tm, launched in 2014, is a brand new lending software suite based on many of the principles of finnonetm but developed from the ground up using new java technology and a services oriented architecture (soa). it is cloud ready, meaning that customers can choose whether to deploy it on their own servers (' on premise'), in a private cloud or via a public cloud .
our revenues from software development comprise of income from time and material and fixed price contracts. revenue from time and material contracts is recognised as the services are rendered and revenue from fixed price contracts comprising of license, related customization and implementation is recognised in accordance with the output method based on percentage completion. revenue from annual technical service contracts is recognized on a pro rata basis over the period in which such services are rendered .
to be known as a global company a diverse workforce that unites different cultural backgrounds and work experience is an important success factor. we are happy to share that we actively manage diversity and have made significant progress over the past years. with greater focus on goals based high performance culture and a clear performance and career growth plan for each employee, the next financial year will see employee learning at nucleus move up the curve substantially .
our revenues from software development comprise of income from time and material and fixed price contracts. revenue from time and material contracts is recognised as the services are rendered and revenue from fixed price contracts comprise of sale of license, related customisation and implementation and is recognised in accordance with the output method based on percentage completion. revenue from annual technical service contracts is recognised on a pro rata basis over the period in which such services are rendered .
your company continues to retain its debt - free status and maintains sufficient cash and cash equivalents to meet future strategic initiatives. the company has been conservative in its investment policy over the years, maintaining a reasonably high level of cash and cash equivalents which enable the company to completely eliminate short and medium term liquidity risks, and at the same time also help scale up operations at a short notice. the goal of cash management at nucleus is to :
operating and other expenses primarily consist of expenses on travel to execute work at client site and for other related activities, consultancy charges, cost of software purchased for delivery to clients, bandwidth and communication expense, infrastructure charges and expenses on account of brand building activities. other expenses included here are training and recruitment costs, legal and professional charges, repairs and maintenance charges, insurance, provision for doubtful debts, bad debts, finance costs and other miscellaneous charges .
operating profit decreased primarily reflecting decreased revenue. decrease in software development expense by 6. 51% was more than offset by increased sales and marketing expense and general and administrative expense. investments in people, products and sales and marketing have also contributed to this decline. we continue investing in new markets for growth and this increase in sales and marketing expenditure is as planned. at the same time there is continued pressure on employee remuneration due to industry opening up post - recession and increased attrition rates .
total bank it spending across north america, europe, and asia - pacific will grow to us $ 196. 7 billion in 2015, an increase of approximately 4. 6% over 2014, as mentioned in a celent report. this upward shift is definitely an encouraging indicator. the future is bright and we believe that with our vision for growth, we have the potential to achieve growth with our specialized software solutions. we have strong branding and an established customer base and need to market and sell more effectively to increase shareholder value .
with increased salaries in india and with cost pressures worldwide, the cost differential as an advantage to indian it is evaporating quickly. now, the mantra to excel is ‘value for each penny spent’. nucleus believes that the only way to survive and bring value in this context to the customers is to deliver quality and innovative solutions. we believe growth in terms of numbers is a by - product of doing right things and contributing to the society and through our customers, changing the lives of billions of people. abiding by a futuristic approach with innovative
tax, in comparison to 13. 40% of profit before tax for the previous year. your company had two units registered under “software technology parks” in india during the year which were entitled to an income tax exemption as per applicable laws. despite numerous industry representations, there has been no extension of tax holiday enjoyed by units in stp / ftz under section 10a of the it act beyond 31 march 2011 and there is additionally increase in the rate of minimum alternate tax (mat) from existing 15% to 18% (plus applicable surcharge and education
depreciation on fixed assets is 11. 97 crore, 3. 39% of revenue for the year, against 7. 93 crore, 2. 29% of revenue in the previous year. it has increased due to depreciation, on hardware / software additions of 7. 92 crore during the year. pursuant to the companies act, 2013, the company revised depreciation rates in respect of computers and data processing unit (end user devices such as desktop, laptops etc .) as per the useful life specified in the part “c” of schedule ii of the act .
depreciation on fixed assets is 10. 66 crore, 3. 82% of revenue for the year against 6. 76 crore, 2. 80% of revenue in the previous year. it has increased due to depreciation on hardware / software additions of 7. 25 crore during the year. pursuant to the companies act, 2013, the company revised depreciation rates in respect of computers and data processing unit (end user devices such as desktop, laptops etc .) as per the useful life specified in the part
c
of schedule ii of the act .
an active and well - informed board is necessary to ensure highest standards of corporate governance. at nucleus, a well qualified board consisting of seven members manages the company with mr. janki ballabh as the chairman and mr. vishnu r dusad as the managing director & ceo. five out of seven members of the board are non - executive, independent directors. these independent directors provide valuable contribution in the deliberations and decisions of the board with their diverse knowledge and expertise. as an effective board, it develops and promotes the vision, culture and values of the company and provides entrepreneurial leadership to the company within a framework of prudent and effective controls .
the are pleased to present your company’s twenty eighth annual report, together with the audited statement of accounts, for the year ended march 31, 2017 .
the financial statements of the company have been prepared in accordance with the generally accepted accounting principles in india (indian gaap) to comply with the accounting standards specified under section 133 of the companies act, 2013, read with rule 7 of the companies (accounts) rules, 2014 and the relevant provisions of the companies act, 2013 (“2013 act”), as applicable and guidelines issued by the securities and exchange board of india (“sebi”). accounting policies have been consistently applied except where a newly issued accounting standard, if initially adopted or a revision to an existing accounting standard requires a change in the accounting policy hitherto in use. management evaluates all recently issued or revised accounting standards on an ongoing basis. the company has nine subsidiary companies across the globe. the company discloses stand - alone audited financial results on a quarterly and annual basis, consolidated un - audited financial results on a quarterly basis and consolidated audited financial results on an annual basis .
revenue from consolidated operations for the year was rs. 372. 39 crore, as compared to rs. 348. 70 crore in the previous year. as the company continued its focus on strategic initiatives for new products, focused sales and market development and hiring of senior experienced personnel to help drive transformation, the overall operational expense for the year continued to be high at rs. 320. 64 crore, against rs. 318. 51 crore in the previous year. the operating profit (ebitda) was at rs. 51. 75 crore, 14% of revenue, against rs. 30. 19 crore, 9% of revenue, in the previous year. profit after tax for the year was higher at rs. 62. 69 crore, 17% of revenue, against rs. 32. 47 crore, 9% of revenue, in the previous year .
revenue from the standalone operations for the year was rs. 299. 35 crore against rs. 278. 17 crore in the previous year. total operational expense for the year was rs. 266. 38 crore against rs. 265. 24 crore in the previous year, an increase of 0. 4% .
operating profit (ebitda) for the year was at rs. 32. 97 crore, 11% of revenue, against rs. 12. 93 crore, 5% of revenue, in the previous year. profit after tax for the year was at rs. 47. 82 crore, 16% of revenue, against rs. 44. 66 crore, 16% of revenue in the previous year .
a detailed analysis on the company’s performance, both consolidated and standalone, is included in “management’s discussion and analysis” report, which forms part of this annual report .
the paid - up share capital of the company, as on march 31, 2017, is 32, 383, 724 equity shares of rs. 10 each, similar to the paid - up share capital as on march 31, 2016 .
the shares of the company are under compulsory dematerialization (“demat”) category and are available for trading on both the depositories in india viz. national securities depository limited (nsdl) and central depository services (india) limited (cdsl). out of the entire paid up shares, i. e. 32, 383, 724 shares, 99. 59% are in dematerialized form as at march 31, 2017. the international securities identification number (isin) allotted to the company’s shares is ine096b01018 .
your company is listed at national stock exchange of india ltd. and bse ltd .
national stock exchange of india ltd. (nse) w. e. f. december 19, 2002
a. use cash to provide sufficient working capital to manage business operations of the company to be able to add value to all our stakeholders and continuously enhance the same.
nucleus software exports limited ( nse : nucleus ) is an indian global it products and solutions company serving the banking and financial services sector for the past 27 years . it offers wide range of it solutions and consultancy services serving a variety of sectors of the banking industry . it is listed on the bombay stock exchange and the national stock exchange of india . the company has its headquarters in noida , uttar pradesh , india , and it operates in more than 50 countries . 
nucleus software exports limited (nse: nucleus) is an indian global it products and solutions company serving the banking and financial services sector for the past 27 years. it offers wide range of it solutions and consultancy services serving a variety of sectors of the banking industry. it is listed on the bombay stock exchange and the national stock exchange of india. the company has its headquarters in noida, uttar pradesh, india, and it operates in more than 50 countries.
nucleus software exports limited (nse: nucleus) is an indian global it products and solutions company serving the banking and financial services sector for the past 27 years. it offers wide range of it solutions and consultancy services serving a variety of sectors of the banking industry. it is listed on the bombay stock exchange and the national stock exchange of india. the company has its headquarters in noida, uttar pradesh, india, and it operates in more than 50 countries.