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NIIT Learning Systems Limited Investor Presentation 2026
61078_rns_2026-05-12_b2e10cd4-37da-40dc-bc66-bd3521dde246.pdf
Investor Presentation
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NIIT
MANAGED TRAINING SERVICES
Corporate Office:
Infocity, A-24, Sector 34
Gurugram 122 001, Haryana, India
Tel: +91 (124) 4916500
www.niitmts.com
Email: [email protected]
May 12, 2026
The Manager
BSE Limited
Phiroze Jeejeebhoy Towers,
Dalal Street, Mumbai - 400 001
The Manager
National Stock Exchange of India Limited
Exchange Plaza, Bandra Kurla Complex,
Bandra (E), Mumbai - 400 051
Subject: Presentation to be made to the Analysts and / or Institutional Investors
Scrip Code: BSE - 543952; NSE - NIITMTS
Dear Sir,
Pursuant to the requirement of Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the presentation to be made to the Analysts and/or Institutional Investors on the Audited Financial Results of the Company for the financial year ended March 31, 2026.
The same shall be available on our website i.e. www.niitmts.com.
This is for your information and records.
Thanking you,
Yours sincerely,
For NIIT Learning Systems Limited
Deepak Bansal
Digitally signed
by Deepak Bansal
Date: 2026.05.12
13:44:59 +05'30"
Deepak Bansal
Company Secretary &
Compliance Officer
Encls.: a/a
NIIT Learning Systems Limited
(Formerly MindChampion Learning Systems Limited)
Registered Office: Plot No. 85, Sector 32, Institutional Area,
Gurugram 122 001, Haryana, India | Tel: +91 (124) 4293000 | CIN: L72200HR 2001 PLC 099478
NIT
The World's Leading Managed Learning Services Company
Transform Your Learning. Turbocharge Your Business.
Q4FY26 Financial Results
May 2026
Environment
IMF April 2026 WEO: global growth cut to 3.1% (from 3.4%). Inflation at 4.4%- energy, supply disruptions and fiscal pressures all contributing. Risks skewed down; India a relative bright spot.
Gartner April 2026: $2.52T AI spend (+44% YoY); total IT $6.31T (+13.5%). Conversation shifting from AI inputs to outcomes, capability creation and judgement formation now define buyer expectations. ROI must be demonstrated before scale.
Persistent cost pressures driving consolidation of L&D budgets and managed services outsourcing. Buyers extend decision cycles; deals shift to phased, outcome-linked structures. NLSL well-placed to deepen share of wallet.
AI in L&D moving from pilots to enterprise. The conversation now centres on capability creation and judgement formation, not AI features. NLSL's skills intelligence, adaptive delivery and impact measurement operationalize this shift at scale.
War-Driven Uncertainty Deepens; AI Investment Scales Under Intensifying ROI Scrutiny
NIT
Q4 FY26: Highlights
Revenue: +22%
EBITDA: +17%
PAT: +58%
EBITDA %: -88 bps
Free Cash Flow
Other highlights:
- AI-enabled offerings now contribute ~13% of revenue
- Added 5 new Annuity clients in Q4, renewed 2 contracts and expanded scope with 2 clients
- 110 Annuity clients; Revenue Visibility at USD 459 million vs USD 415 million LQ
- Acquired SFO-based SweetRush Inc in Jan '26. It is a leader in AI-enabled learning experience design and strategic training interventions
NIT
FY26: Highlights
Revenue: +18%
EBITDA: +5%
PAT: +9%
EBITDA %: -249 bps
Free Cash Flow
Other highlights:
- Added 21 new Annuity clients, renewed 12 contracts and expanded scope with 4 clients
- Acquired Munich based MST Group and SFO-based SweetRush Inc during the year
- Completed RECO contract during the year
- Cash & Equivalents at Rs 9,366 million; Net Cash at Rs. 6,692 million. DSO at 65
- ROCE at 32.7%
NIT
Revenue Mix: By Sector
NIT
Customer Metrics
5 New Annuity Clients
2 Contract Renewals
2 Scope Expansions
Annuity Clients
Revenue Visibility
Customer Concentration
Top 5 36% → 31%
Top 10 53% → 47%
Top 20 76% → 63%
Clients By Revenue Contribution
5 > USD 10 million
8 USD 5 million – USD 10 million
NIT
People
- Headcount up 113 QoQ and up 135 YoY
-
Includes 113 added to NIIT family from SweetRush in Q4
-
excludes project retainers
NIIT
Shareholding Pattern
*Includes impact of exercise of ESOPs on holding percentages
8
Financials
| INR Mn | Q4 FY26 | Q4 FY25 | YoY | Q3 FY26 | QoQ | FY26 | FY25 | YoY |
|---|---|---|---|---|---|---|---|---|
| Net Revenue | 5,252 | 4,297 | 22% | 4,997 | 5% | 19,520 | 16,533 | 18% |
| Operating expenses | 4,251 | 3,440 | 24% | 3,959 | 7% | 15,563 | 12,770 | 22% |
| EBITDA | 1,002 | 857 | 17% | 1,038 | -4% | 3,957 | 3,763 | 5% |
| EBITDA% | 19% | 20% | -88 bps | 21% | -170 bps | 20% | 23% | -249 bps |
| Depreciation & Amortisation | 205 | 167 | 23% | 194 | 6% | 764 | 619 | 23% |
| Net Other Income/ (Expense) | 144 | 3 | 142 mn | 104 | 40 mn | 119 | (80) | 199 mn |
| Operational PBT | 940 | 693 | 36% | 948 | -1% | 3,312 | 3,064 | 8% |
| Tax | 169 | 206 | -18% | 205 | -17% | 835 | 789 | 6% |
| PAT | 771 | 487 | 58% | 743 | 4% | 2,477 | 2,275 | 9% |
| EPS (INR) | 5.6 | 3.6 | 57% | 5.4 | 4% | 18.1 | 16.8 | 8% |
Net Other Income / (Expense) includes
- Treasury Income of INR 36 Mn; lower because of MTM
- Exceptional gain of INR 286 Mn on account of:
- Gain of Rs 455 million due to Fair Value adjustment in Future Acquisition Liability or StC
- Transaction Expenses of Rs 77 million (inorganic)
- Prudent impairment in carrying value of minority investment due to uncertainty in timing of their next funding round
- Net Finance cost of INR 76 Mn includes FAL for SweetRush INR 15 Mn, Interest on loan INR 28 Mn, Interest on lease liabilities INR 10 Mn, Bank charges of INR 12 Mn
- Forex loss of INR 52 Mn
- Other Misc Expense primarily includes One time B&O tax impact of INR 54 Mn
NIT
10
NIIT
Company Overview
What We Do?
Managed Training Services - Trusted by the World's Best Companies
The company's specialized learning solutions include AI-Powered L&D Transformation, Immersive Learning, Customer Education Services, HCM Technology and Consulting Services, Leadership and Professional Skills Training, Digital and Technology Training, and Talent Pipeline as a Service
Spread across 30+ countries, our experienced teams of learning professionals and experts are helping clients adapt to an AI-first world, reskilling employees at scale with AI-powered coaching and hyper-realistic, dynamic simulations directly embedded into the workflows
NIT
NLSL At A Glance
| 40+
Years of pure play
learning experience | 32
Global presence in
32 countries | 3
Top 3 Global Learning
Outsourcing Company | 2.5K
World-class learning
professionals |
| --- | --- | --- | --- |
| 100+
Global
Customers | 500+
Industry Awards for
Innovation & Impact | 40M
Learners touched
globally | 21K
Hours of custom content
developed annually |
| 150K+
Annual Training
Days | 9M+
Annual learner
transactions | 2.5K+
Strong global trainer
network | 5.5K+
Network of L&D suppliers
worldwide |
NIST
We Have Spread Our Wings
32 COUNTRIES | 40 MILLION LEARNERS | 100+ MTS CUSTOMERS
NIT
...to transform learning across a wide range of industries.
Most of our customers are in the Global Top 10 in their respective industries.
NIT
Don't take our word for it. Here's what our customers say...
NET PROMOTER SCORE
9.03
CUSTOMER SATISFACTION
4.39
VALUE-ADD SCORE
4.13
NIIT VOICE OF CUSTOMER SURVEY
| Dependable and Reliable | Responsive and Customer Focused |
|---|---|
| Deep Customer Service Ethos | Desire to Exceed Expectations |
| Receptive to Feedback | Partnership Mindset |
NIIT
..And Recognized by Industry Experts
480 BRANDON HALL HCM AND TECH AWARDS
25 CLO LEARNING IN PRACTICE AWARDS
10 LEARNING TECHNOLOGIES AWARDS
2 ATD EXCELLENCE IN PRACTICE AWARDS
ACCREDITED GOLD STANDARD BY LPI, 2 LPI AWARDS
NUMBER ONE IN INNOVATION AND SIZE OF DEAL FOR LSD, 2022
TOP 20 COMPANIES IN LEARNING SERVICES 2008-2025
TOP 20 COMPANIES IN CONTENT DEVELOPMENT 2011-2025
TOP 20 COMPANIES IN IT & TECH TRAINING 2008-2010, 2013-2024
TOP 20 COMPANIES IN EXPERIENTIAL LEARNING, 2021-2024
TOP 20 COMPANIES IN AI COACHING AND LEARNER SUPPORT TOOLS, AI CONTENT CREATION AND AUTHORING TOOLS, 2025
STRATEGIC LEADER IN FOSWAY 9-Grid™ FOR DIGITAL LEARNING 2025
LEADER IN NELSONHALL NEAT LEARNING SERVICES 2025
Consistent Growth Track Record
of Annuity Clients
Revenue in Rs. Million
REVENUE VISIBILITY
$459Mn from Existing
Clients, 110 Annuity
Customers
STRONG CUSTOMER ADDS
21 new MTS Customers
added in FY26; 5 new in
Q4FY26
CAPITAL EFFICIENCY
High ROCE, ROE and Free
Cash Flow Generation
UNIQUELY POSITIONED
to benefit from increased
outsourcing. Growth to
accelerate on recovery in
spends
NIIT
Large Market Opportunity
$370.3Bn
Global Corporate Training Annual Spend
- Most of the external spending is currently on Standardized Courses (Technology, Sales, Leadership, Health & Safety etc.), Learning Tech. and Tuition Reimbursements
- Majority of Internal spending can be outsourced and presents a large opportunity
Source: Trainingindustry.com
NIT
Strong Right To Win
PROPRIETARY LEARNING METHODOLOGIES WITH PROVEN OUTCOMES
END-END SERVICES DELIVERY CAPABILITY
GLOBAL REACH
CUSTOMER CENTRICITY RESULTING IN 100% RENEWALS
POLE POSITION IN AI IN LEARNING
STRONG BALANCE SHEET WITH MANDATE TO INVEST IN GROWTH
NIT
...And Investing In Growth
INVESTMENTS IN S&M AND NEW CAPABILITIES
NEW MARKET SEGMENTS AND GEOGRAPHIES
INORGANIC EXPANSION
NIT
ATLANTA | BERGEN | DEBRECEN | DUBLIN | GURUGRAM | LEIPZIG | LONDON | MUNICH | ROCHESTER | SAN JOSE | SHANGHAI | SHEFFIELD | TOULOUSE | VANCOUVER 21