NIIT Learning Systems Ltd

Meeting Details

• Date and time: September 10, 2026, 4:00 PM to 7:30 PM; Mumbai in-person and virtual
• Meeting type and mode: Institutional investor/analyst group meeting; in-person and virtual
• Event/organiser: NIIT Learning Investor Day
• Company participants: Vice Chairman & MD; Executive Director & CEO; CFO; Head of M&A & IR
• Purpose: Investor/analyst interaction and earnings discussion
• Presentation: slides will be available on NIITmts.com

Awards highlights

• Recorded 114 Brandon Hall Excellence Awards for 2026, with 90 to NIIT Learning, 24 to SweetRush.
• SweetRush joined NIIT Learning in January 2026.

Strategic integration

• SweetRush integration broadens AI-enabled learning design capabilities.

Client scope and award categories

• Awards recognize partnerships with Hitachi Energy, IBM, IQVIA, Medtronic, MetLife, Qatar Airways, Ricoh, Rio Tinto, ServiceNow, Shell.
• Awards span Learning & Development, Talent Management, Leadership Development, and the Future of Work.

Overview

• Consolidated NIIT Learning Systems Limited provides Managed Training Services to Fortune 1000 clients worldwide.
• Reporting boundary includes NLSL and subsidiaries.
• Exports accounted for 89.18% of turnover; operations span 18 Indian states, 1 UT, and 66 countries.
• No manufacturing; service-focused education and training delivery.

Key ESG Risks & Opportunities

• Climate change and energy management: digital-first learning reduces resource use; positive financial impact.
• Talent attraction and development: strong learning culture with AI-enabled engagement.
• Data privacy and cybersecurity: risk; mitigations include MFA, RBAC, DLP, ISO certifications.
• Artificial intelligence governance: risk and opportunity; oversight committee with human-in-the-loop.
• Customer concentration: risk; MST Group and SweetRush acquisitions expand growth.
• Supply chain management: resilience through local and global partner network.

Governance & Policy Highlights

• Board oversight of ESG via CSR committee and related governance structures.
• Key policies: Code of Conduct, anti-bribery, whistleblower, equal opportunity.
• Intertek provides reasonable assurance on BRSR Core; no penalties disclosed.

Social Responsibility & Workforce

• Total employees: 2,603; permanent 2,489; non-permanent 114.
• Gender mix: 51.5% male, 48.5% female; 6 differently-abled.
• Board female representation 25%; Key Management female 0%.
• Well-being: over 50% attended health webinars; wellbeing spend 1.37% of revenue.
• LTIFR: nil; no employee fatalities.
• CSR: nine programs; 7,460 beneficiaries; Rs 21.75 million to NIIT University.
• Grievance mechanisms: multi-tier; GrievanceCell@niitmts.com and CPO@niitmts.com; POSH channel.
• Workforce categorized as employees; no workers.

Environmental Performance

• Total energy: 6,816.23 GJ; renewables 1,893.23 GJ; renewables share 27.78%.
• Scope 1: 870.29 tCO2e; Scope 2: 926.90 tCO2e.
• Emissions intensity: 0.00000034 tCO2e per INR turnover.
• Water withdrawal: 12,539.54 KL; water discharged: 12,507 KL treated; 32.54 KL to sewer.
• Zero Liquid Discharge: 55 KLD treated water reused.
• Waste: total 26.38 MT; recycled 26.14 MT; plastic 11.16 MT; hazardous 0.24 MT.
• Air emissions: NOx 37 g/kWh; SOx 4.1; PM 2.3; NABL-certified.
• Solar capacity upgraded to 460 kW; solar share 28.07%.

Stakeholder Engagement & Complaints

• Stakeholders: employees, investors, communities; engagement via surveys, townhalls, and AGM.
• Data privacy complaints FY26: 4; pending: 0.
• POSH complaints FY25: 1; FY26: NIL.
• Grievance channels: GrievanceCell@niitmts.com; CPO@niitmts.com; POSH@niitmts.com.
• Customer feedback discussed at board meetings to inform product/service strategies.

Other Notable Metrics

• RPT share: purchases with related parties 5.22%; sales 0.07%.
• MSME procurement: 15.61%; Indian sourcing: 8.52%.
• Exports: 89.18% of turnover.
• Procurement from ESG-rated suppliers: 5.52%; freelancers comprise 11.25% of procurement.
• Assurance: Intertek on BRSR Core; scope includes Principles 1,3,5,6,8,9.
• Certifications: EcoVadis Silver badge; CDP rating improved.
• EPR not applicable; no manufacturing.

AGM Details and Key Resolutions

• Date and time: Sep 9, 2026 at 12:30 IST.
• Mode: VC/OAVM.
• Record date: Aug 20, 2026.
• Voting cut-off: Sep 2, 2026.
• Remote e-voting: Sep 4–8, 2026.
• Ordinary: adopt standalone and consolidated financials with boards’ and auditors’ reports.
• Ordinary: declare dividend for year ended Mar 31, 2026; Rs 3.25 per share.
• Ordinary: re-appoint Pawar and Thadani as directors retiring by rotation.
• Special: ratify remuneration of Cost Auditors for FY2025-26.
• Special: continue Pawar as Non-Executive Chairman for five years with remuneration.

Meeting Details

• Date and time: August 14, 2026, 9:00 AM–5:00 PM.
• Meeting type and mode: 1x1 and group meetings; in-person.
• Event: Equirus Annual India Conference 2026.
• Company attendees: CFO; Head, M&A & Investor Relations.
• Location: In-person, Mumbai.

Participants

• Key company participants: CFO; Head, M&A & Investor Relations.

Purpose

• Purpose: investor/analyst interaction at the conference.

Availability

• Presentation available on the company's website.

Meeting Details

• Date: August 13, 2026; Time: 9:00 AM–5:00 PM (local).
• Key company attendees: Chief Financial Officer; Head of M&A & Investor Relations.
• Event: Emkay Confluence 2026.
• Type: 1-on-1 and group meetings.
• Mode/Location: In-person meeting in Mumbai.
• Presentation available on the company's website.

Tax adjustment details

• Audit results and Notice of Balance Due dated July 30, 2026 issued by Washington DoR.
• Aggregate demand amounts to USD 600,303.50 including tax USD 435,957.60, penalty USD 111,994.73, interest USD 52,351.17.
• Period covered: January 1, 2022 to December 31, 2025.
• No violation alleged; assessed due to differences in tax classification and deductions.
• Provision recorded in prior financial year; no material impact on operations.
• Any financial impact to be accounted per applicable accounting standards.
• NIIT USA Inc. operations not impacted; company-wide impact not material.
• Receipt date of communication: July 31, 2026 (letters dated July 30, 2026).

Financial performance

• Q1 FY27 EBITDA INR 1,032m, up 8.5% YoY; margin 18.3%.
• PAT INR 574m; up 16.4% YoY; EPS INR 4.17.
• Trade receivable days 62.
• Cash and cash equivalents INR 9,954m; net cash INR 7,364m.
• Operating cash flow INR 758m (73.4% of EBITDA); free cash flow INR 616m.
• AI-enabled services contributed 13% of revenue.

Segment performance and acquisitions

• MST Group contributed INR 231m; joined July 2025.
• SweetRush contributed INR 431m; joined January 2026.
• Industrial segment grew 35% YoY; BFSI 33%; Life Sciences 29%; Tech/Telecom 8%; Consulting -16%.
• Two large clients pulled back L&D budgets; sequential recovery but not back to last year's run rate.

AI strategy and progress

• AI-enabled revenue contributed 13% of Q1 revenue.
• June launch of AI-ready L&D Enterprise portfolio with four integrated areas.
• Three AI components: AI coach engine, simulation manager, sensing engine.
• Fosway 2026 ranks NIIT as leader for say-do ratio.
• Training Industry lists: Top 20 AI coaching and Top 20 staffing and temporary resources.
• Case study: global SI client; go-to-market training; doubled contract value.

Guidance and outlook

• FY27 revenue growth expected in high single digits.
• EBITDA margin guidance 18%–20% for FY27.
• Q2 revenue growth 9%–11% YoY; margins around 18%.
• Revenue visibility pipeline USD 462m; up 19% YoY.
• Macro uncertainties may influence near-term ramp-ups.

Capital allocation and Q&A highlights

• Acquisitions MST and SweetRush contributed; further inorganic activity anticipated.
• AI investments prioritized; capital kitty allocated for acquisitions; no buyback plan disclosed.
• Investor Day planned on September 10 in Mumbai.
• Ex RECO, YoY organic growth 5%; QoQ organic growth 2.9%.
• Top 5 client revenue share rose to 35% from 31%.
• MST/SweetRush last-year numbers not discussed due to different revenue recognition.
• RECO not present in both quarters; organic growth excludes RECO.