Nucleus Announces 125% Final Dividend for FY 2023-24

Nucleus Software Exports Limited has officially declared a final dividend of Rs 12.50 per Equity Share for the financial year ended March 31, 2024. The announcement was made during the Thirty Fifth Annual General Meeting (AGM), which is scheduled to convene on July 15, 2024, via Video Conferencing/Other Audio-Visual Means (VC).

This significant dividend declaration, subject to shareholder approval at the AGM, underscores Nucleus Software's commitment to enhancing shareholder value. The proposed payout, totaling  Rs 33.47 crore, reflects the company's robust financial performance and strategic dividend policy.

According to the Official announcement on the company's annual report and AGM Notice,  the Board of Directors recommended the final dividend during their meeting on May 23, 2024. The dividend will be payable following the closure of the Register of Members and Share Transfer Books from July 9, 2024, to July 15, 2024.

In addition to the dividend declaration, the AGM agenda includes other critical items such as the adoption of financial statements, the reappointment of directors, and discussions on the payment of commissions to non-executive directors. These resolutions are aimed at ensuring compliance with regulatory requirements and enhancing corporate governance standards.

read the full notice and annual report Here.

Annual Report FY 2023-24

Nucleus Software Exports Limited has released its Annual Report for the financial year 2023-24, highlighting a year of significant achievements, new product launches, and robust financial performance.

The report emphasizes the company’s global strategy focused on innovation, customer-centricity, and sustainable growth, aimed at driving transformational change in the global fintech landscape.

Business Verticals and New Product Launches

Digital Lending and Transaction Banking:

• Nucleus Software continued to enhance its digital lending and transaction banking platforms, aligning with the increasing digital transformation of financial services.
• Key upgrades included virtual assistants, messaging applications, augmented channel-based acquisition capabilities, and geo-tracking for comprehensive loan lifecycle digitization.
• The release of FinnOne Neo® GA 7.0 in May 2023 and GA 7.5 in April 2024 marked significant milestones, underscoring the company’s commitment to technological advancement.
• FinnOne Neo® boasts a comprehensive API stack of over 480 APIs, ensuring seamless integration with various systems. The platform supports multi-lingual expansion, fostering inclusivity and accessibility.

Corporate Solutions:

• FinnAxia® GA 8.6 introduced multifactor authentication, enhanced security for corporate users, beneficiary limits tracking, validation and restriction for NRE account transactions, and more.
• New features include Corporate Advice Generation, Configurable Reverse MIS for real-time payment file transparency, and integrated CBDT Payments for streamlined tax transactions.
• The enhanced grievances redressal system ensures prompt resolution, maintaining business continuity for customers.

Financial Performance:

Consolidated Operations:

• Revenue from consolidated operations crossed the 800 crore mark for the first time, reaching 826.45 crore, a 30.26% increase from the previous year.
• The Operating Profit (EBITDA) was ` 219.45 crore, representing 26.55% of revenue.
• Profit after Tax was ` 191.60 crore, accounting for 23.18% of revenue.

Standalone Operations:

• Revenue from standalone operations was 766.12 crore, a 31.02% increase from the previous year.
• The Operating Profit (EBITDA) was ` 212.81 crore, representing 27.78% of revenue.
• Profit after Tax was ` 185.95 crore, accounting for 24.27% of revenue.

Future Outlook:

The global financial services market is projected to grow at a compound annual growth rate (CAGR) of 7.7% in 2024. Key growth drivers include the increasing demand for real-time fund transfers, the adoption of blockchain technology, the rise of digital banking services, and the growing use of cryptocurrencies. In India, the financial services and fintech sectors are expected to see unprecedented growth, with the market potentially doubling to around $1.7 trillion by 2030. Nucleus Software is poised to leverage these trends and drive substantial growth in the coming years.

Nucleus Software

Nucleus Software, established on January 9, 1989, is a premier provider of advanced technology solutions for the banking and lending industries. The company specializes in enhancing productivity and sales through intelligent decision-making and automated workflows.

With over 520 APIs and modular products, Nucleus Software offers a flexible and composable approach to banking and lending, allowing financial institutions to integrate and customize their solutions with ease.

The company's key offerings include corporate lending solutions that digitize SME and corporate lending processes, retail lending platforms that manage the entire lifecycle from origination to collections, and Islamic finance products that adhere to Shariah principles.

Additionally, Nucleus Software provides advanced automotive lending software for comprehensive loan lifecycle management. Headquartered at New Delhi, with a corporate office in Noida, Nucleus Software is dedicated to delivering agile, efficient, and cost-effective technology platforms to financial institutions worldwide.