Nucleus Software Exports Limited (NSE: NUCLEUS) Q1 2026 Earnings Call dated Aug. 01, 2025
Corporate Participants:
Unidentified Speaker
Vishnu R Dusad — Managing Director
Parag Bhise — Executive Director and Chief Executive Officer
Tapan Jayaswal — Financial Controller
Swati Ahuja — Investor Relations
Ashwani Arora — SVP – Global Customer Success Team
Ashish Khanna — Chief of Staff to MD and Chief Marketing Officer
Anurag Mantri — Chief Financial Officer & Executive Director
Mukesh Bangia — Vice President, Neo PMG
Analysts:
Unidentified Participant
Rushabh Shah — Analyst
Vaibhav Badjatya — Analyst
Rahul Jain — Analyst
Vinay Nadkarni — Analyst
Presentation:
operator
Good afternoon everyone. This is Pelshia. A very warm welcome to all of you for this Nucleus Software earnings conference call for the quarter ended on June 30, 2025. For discussions we have here from the management team, Mr. Vishnu R. Dusar, our Managing Director Mr. Parag Basay, CEO and Executive Director Mr. Anurag Pantry COO and Executive Director Mr. Ashwani Arora, Senior Vice President Mr. Ashish Khanna, Chief of Staff Mr. Mukesh Bangia, Vice President Mr. Abhishek Pallav, Vice President Ms. Swati Padwardhan, Chief Human Resource Officer and Mr. Tapan Deshwal, Financial Controller. As you all are aware, Nuclear Software does not provide any specific revenue earnings guidance.
Anything which is said during this call which may reflect company’s outlook for the future or it may be constructed as a forward looking statement must be reviewed in conjunction with the risk that the company faces. An audio and the transcript of this call would be shortly available on the investors session of company’s website www.nuclearsoftware.com. with this we are now ready to begin with the opening comments on the performance of the company and post that we would be available for the question and answer session with this I now pass it over to Mr. Vishnu over to you sir.
Vishnu R Dusad — Managing Director
Good afternoon to all of you and thank you very much for your joining this semester. Call for quarter ending 30th June 2025. This has been an exciting quarter where we have gone live with some of our biggest implementations where more than 20,000 users are leveraging our system. Our product for collections with one of the biggest players in India. We look forward to sharing many more similar exciting news with you in coming quarters. In the meanwhile and with those words, I now welcome you to the call once again. Thank you.
Parag Bhise — Executive Director and Chief Executive Officer
Hello, good afternoon, this is Parag. Just to re emphasize the points mentioned by Mr. Vishnu, we’ve been talking about working on fundamentals. Our Lean journey is progressing well and we are we are implementing those principles in our day to day life. Whether it is about our projects or whether it is about focus on our customers or improvement in production that is giving kind of starting to give us results and what Mr. Vishnu talked about, the implementations are getting more and more caption and we expect to further improve upon that. That’s what I’d like to mention at this stage and looking forward to the questions.
Thank you very much. Over to you. Please do share the financial updates. Yes it is.
Tapan Jayaswal — Financial Controller
Audience, the highlights from financials Starting from revenue, our consolidated revenue for the quarter is at rupees 217.72 crores against rupees 228.96 crore quarter on quarter and rupees 195.39 crores year on year. Overall revenue in foreign currency including India rupees revenue is US dollar 25.46 million for the quarter against US dollar 26.53 million quarter on quarter and US dollar 23.44 million year on year. Product revenue for the quarter is at rupees 184.91 crore against rupees 199.56 crore quarter on quarter and rupees 168.01 crore year on year. Revenue from projects and services for the quarter is at rupees 32.81 crore against rupees 29.40 crore quarter on quarter and 27.38 crore year on year.
As for expenses, cost of delivery including cost of product development for the quarter is 70.1% of revenue against 57.3% of revenue quarter on quarter and 75.5% of revenue year on year. In absolute terms this is rupees 152.70 crore against rupees 131.29 crore quarter on quarter and rupees 147.449 crore year on year. Marketing and sales expenses for the quarter is 6% of revenue against 4.9% of revenue quarter on quarter.2% year on year. In absolute terms, this is Rs. 13.12 crore against rupees 11.24 crore quarter on quarter and rupees 4.24 crore year on year in expenses for the quarter is 8.3% of revenue against 5.3% of revenue quarter on quarter and 7.6% year on year.
Absolute terms this is Rs. 18.15 crore against Rs. 12.09 crore quarter on quarter and rupees 14.92 crores year on year. VTA for the quarter is at rupees 33.74 crore against rupees 74.31 crore bottom quarter and rupees 28.75 crore year on year. Other income from investments and Deposit is at rupees 16.87 crore against rupees 16.75 crore quarter on quarter and rupees 14.8 crore year on year. Total other income for the quarter is at Rupees 17.96 crore against Rupees 16.62 crore quarter on quarter and Rupees 15.05 crore year on year. Total taxes are at Rupees 13.10 crore against Rupees 22.77 crore quartern quarter and Rupees 9.71 crore year on year.
Net profit is at Rupees 35.20 crore for the quarter 16.2% of revenue against Rupees 64.77 crores for the quarter. The 8.3% of revenue quarterly quarter 30.2 crores which is 15.5% of total revenue year on year. Their comprehensive income is at rupees 4.63 crores for the quarter against negative 0.20 crore quarter on quarter 0.04 crore year on year. Total comprehensive income which includes net profit and other comprehensive income is at rupees 39.83 crores for the quarter against rupees 64.57 crore quarter on quarter and rupees 31.24 crore year on year for the quarter is at rupees 13.37 as against rupees 24.60 in the previous quarter and rupees 11.28 year on year.
In terms of foreign currency hedges on June 30th we had USD 2.25 million of forward contracts at an average rate of 87.03. There is a mark to market gain of rupees 1.19 crore which is taken to the hedging reserve in the balance sheet. Revenue Contribution from the top five client for the quarter is 28.6% against 27.8% in the previous quarter Order book position is Rupees 703.16 crores including Rupees 608.70 crores of product business and Rupees 94.46 crores of projects and services business. On 31st March the order book position was 612.4 crore including Rs. 534.32 crores of product business 28.08 crore of projects and services business.
Total cash and cash equivalents as on 06-30-2025 are rupees 965.93 crore against rupees 877.26 crore as on 31-03-13. This includes balancing current current accounts of rupees 105.83 crore, various schemes of mutual funds rupees 607.79 crore 6. Deposit of Rs. 218.53 crore, investments in tax free bonds of Rs. 33.78 crores. With regards to receivables we are at Rs. 126.12 crores against Rs. 137.41 crore. Previous quarter. During the quarter there is a gross addition of fixed assets of Rs. 3.46 crores is 2.7 crores on computer and servers, Rs. 0.18 crore on furniture fixtures, 0.03 crores on office equipment, 0.4 crores on building and plant and machinery and 0.15 crore on software.
Now I’ll hand it over to Swati.
Swati Ahuja — Investor Relations
Thank you sir.
Questions and Answers:
operator
This we are now open for the question and answer session. If you wish to ask a question please press star and one on your telephone keypad and wait for your name to be announced. If you wish to cancel your request, please press star and one again. Once again if wish to ask a question please press star and one on your telephone and wait for your name to be announced. First question comes from Arushab Shah from Buggle Rock pms. Please go ahead.
Rushabh Shah
My first question is in one of the calls you mentioned that you have a very strong basis for selecting your customer. So could you let us know what are those basis you look out for and why those bases are so important for you.
Vishnu R Dusad
Discount. This is for selecting customers. Hello. You know we are extremely sensitive to you know prospective customers like politically exposed people for sense. Likewise we also look at the financials of our prospective customers before we get into a relationship with them. Essentially these are the two Factors that we look at and apart from obviously the credentials of, you know, the promoters in case of startups, etc. These are the essentially three, you know, factors that we look at while qualifying our customers.
Rushabh Shah
So my second question is on the geography part that Far East, Europe and many other markets have come down drastically the last 10 to 12 years. India, whereas the other India has grown from 27% in 2013 to 58, 60%. So why are we focusing more on the domestic business and less on the international business? Some thoughts will be useful, no?
Vishnu R Dusad
Excellent question. Thank you very much for bringing this to notice. We have been very consciously working on our products for the last decade or so to make sure that they evolve into a product which is globally implementable. And I’m very pleased to say that we have achieved some, some degree of clarity on that aspect. And we are working in multiple geographies where these new set of products are getting implemented. So we are very confident that over coming few years we will start gaining back the same percentage that we had of overseas customers in our overall revenue as it was, let’s say 15 years back.
Rushabh Shah
My last question is in the investment parts in the notes two accounts I found out that even Small Finance bank, we have some 10 crores. So are there some payments left from the bank? And we’ve got some shares. What is those 10 crores?
Vishnu R Dusad
Okay. You know, when Jeevan Financial Services was setting up its business in I think around 15 or 20 years back, we were one of the earliest investors in that bank. You know, we have had a wonderful relationship with Mr. Sameit Ghosh, the founder of Ujun Financial Services when he used to be with Citibank which is almost a 40 year long relationship. And that is how Nucleus as a company had invested in Ujiwan Financial Services. Subsequently Ujiwan Financial Services got merged into Ujiuan Small Finance bank. And that’s how we have this shareholding. So you know, this amount that you are looking at is essentially about that investment.
Rushabh Shah
Okay, fine sir, thank you so much.
Vishnu R Dusad
Thank you.
operator
Thank you. The next question comes from Srinivasu K, an individual investor. Please go with.
Unidentified Participant
Hi sir. Am I audible?
Vishnu R Dusad
Hi, yes you are audible.
Unidentified Participant
Thank you for the opportunity. Sir, my first question is which AI modules of your PhoenixIA or you know, Phoenix Fin1 Neo actually generating revenue for Q1 and how are you pricing them?
Vishnu R Dusad
So These are embedded AIs and part of product offerings. So we do not build so far we are not billing AI as a business model but we are empowering our customers to leverage These AI capabilities and going forward we will be billing them too.
Unidentified Participant
So are there are these are still in pilot phase.
Vishnu R Dusad
As part of GA rollback we have released product capabilities which are AI empowered and it is not that they are in pilot phase. It is being implemented and customers are leveraging and many are in the process of go live.
Unidentified Participant
Okay and with respect to the audit trails for AI stack, how are you satisfying your regulators for especially for tier one geography?
Vishnu R Dusad
This is of course thanks for asking this question. Again this goes into the kind of depth we put in during the research and development and the ability to explain about the workings of AI and how AI come to reach to a conclusion. So there is an explainability part of it and that is good enough to be able to suffice the need.
Unidentified Participant
Okay, so. So that model is satisfying that Europe we are not.
Vishnu R Dusad
We are not relying upon any market model. We have built all of them in house.
Unidentified Participant
Okay and next question is employee cost jumped up sharply in this quarter. How much of that increase is specific to hiring or upskilling for this AI ML talent? How do you expect that in a couple of next couple of quarters?
Vishnu R Dusad
Yes, yes, yes. Just a second.
Swati Ahuja
So employee cost jump for this quarter. Is largely on account of increments that we have given for the upcoming coming.
Vishnu R Dusad
Year and the last quarter specifically last quarter was slightly lower than normal because some of the provisions that we had made right through the year those you know, those were written back and that is how the last quarter Q4 number was lower than it should have been and that is how the jump would be looking higher.
Unidentified Participant
Okay. Okay, last call. You mentioned that North America lending lend you are pushing for North America Lending platform. Right. So how is it going and any anything Pilot wins in Q1?
Ashwani Arora
Yeah, I think attempts are going very well in that direction. One we are having senior sales leader and second I think we’re already in touch with one of the prospect and we are working on a proof of concept with them. So hopefully we are looking forward to convert that deal in this year. And similarly we are also trying to open up partnership with the consultants BigForce so that they also help us in that direction. Additionally, I think we are already working. With general motor params in Latin America and Europe and that’s where I think we are trying to consolidate in North America operations and we are also looking to get our presence within North America within as well. So these are the multiple directions which we have been working actively for North America extension. Hope I’m able to address your query.
Unidentified Participant
Yeah, thank you. An excellent.
operator
Thank you. The next question comes from Bajaya from Honesty and Integrity Investments. Please go ahead.
Vaibhav Badjatya
Sorry, I missed the order book number for this quarter. Can you just repeat that for me?
Tapan Jayaswal
Sure. So the order book position is 703.16 crores including R 608.70 of product business and rupees 94.46 crores of project and services business. And on 31st March question was 600.4. Crore including 534.32 crore of product business and rupees 78.08 crore of projects and services business.
Vaibhav Badjatya
Right, got it. And just on this aspect, you know, for the current quarter you give an order book that is from December quarter onwards you have excluded it from the opening remarks, but this quarter you reintroduced it. So I just. I just wanted to understand the thought behind this change that happened in December 24th and then again in June in this quarter.
Parag Bhise
Can you please repeat the question? The voice was not very clear and precise. What is the precise question please?
Vaibhav Badjatya
Yeah, so see, historically all throughout the quarters we always used to give order book number in opening in half. Right. But in December 2024 quarter, when we did the phone call for that quarter, then we stopped giving December. And in March also we did not give December but June 2020 quarter, we again started leaving December. So I just want to understand what was the thought to stop it for two quarters and then restart it again this quarter? I just wanted to understand has been thinking about making these changes.
Parag Bhise
No. At least there was no conscious reason. I think we will also check at our end in the transcripts of last two calls. But there was no conscious. It would have been covered. Probably can confirm right away if you are on the call. But there are no such decision taken to not share. We will also check automatically.
Vaibhav Badjatya
Yeah, okay. Okay.
Parag Bhise
Yeah, just to confirm that. Just to confirm that it was there. So you could. You could check in the last calls transcript.
Vaibhav Badjatya
You’ll find it there. Yeah, in the last. It was given as a response to somebody’s question, but not in the opening results. December quarter. I think December quarter is completely missing. December 24th quarter.
Vishnu R Dusad
Okay, we’ll take once again. And.
Vaibhav Badjatya
And. Yeah, yeah, yeah, that’s fine. I just. If it was conscious, I just wanted to understand thinking that that’s fine. A number of employees. The number for March 25 and June 25.
Swati Ahuja
Sorry, could you repeat your.
Vishnu R Dusad
You have the numbers here.
Swati Ahuja
1939. 1930 as of June end 1939. 1939 as of June. Okay.
Vaibhav Badjatya
And. And March. March ending 1945. Okay. Got it? Yeah, thank you. That’s it from Asset. Yeah.
operator
Thank you. The next question comes from Mahak Singhvi, an individual investor. Please go ahead.
Unidentified Participant
Yeah, I wanted to ask the logos at the end of this quarter and what was the number last quarter? Logos. Logos. I know, I know. I know. On the new logos, I want the logos total at the end of this quarter.
Vishnu R Dusad
So number of customers, total number. You have that number readily available, total number of loans.
Tapan Jayaswal
New logo is one.
Parag Bhise
The question is on total number.
Tapan Jayaswal
Having. That number, sir, we’ll make it available next quarter onwards.
Unidentified Participant
Okay. And another thing I wanted to ask is operating expenses are shorter. So are there any one of items over here?
Vishnu R Dusad
Are there any.
Unidentified Participant
One of it? Okay. And regarding this Hoshin Kandi initiative of yours, you have not listed any key performance indicators to track progress of your initiative. And neither it is showing in the numbers because there is no cost optimization as such.
Vishnu R Dusad
Okay. As far as cost optimization is concerned, that is not. I’ll repeat, that is not the intent of Hoshin Kandry. Hoshin Kandry is a philosophical, extremely long term initiative and which believes in. Which is sharply focused on customer satisfaction and employee development and delivering value on an ongoing basis. So this is something that involves substantial cultural change, which is what we are working on. And it is showing impact for few years. It may not show any impact immediately. If it shows shows well and good. But otherwise it is expected to show impact over the years and it brings in sustainability for the organization on a long term basis.
Unidentified Participant
Okay. And another thing I wanted to ask you that your CFO, the former CFO resigned on 19th and 19th was the Concorde and you all did not in commerce.
Vishnu R Dusad
Yeah, he resigned after that. After the phone call and he.
Unidentified Participant
He resigned without a notice, right? He just resigned on 21st.
Vishnu R Dusad
Yeah.
Unidentified Participant
Okay. This was allowed at the CFO level. Was he allowed to design like that?
Vishnu R Dusad
Yeah, we did not have a chance.
Unidentified Participant
Okay. Okay. And another thing I wanted was the price revisions are over with all the clients.
Vishnu R Dusad
No, we continue to talk to our customers about the value that our products are delivering. And based on that, you know, we look at the pricing of fish.
Unidentified Participant
Okay. And this order book of 703.16, this will be like implemented in the next nine months, right? Okay, that will be from my side. Thank you so much. Thank you. Thank you.
operator
Thank you. The next question comes from Rahul Jain from Donut Capital. Please go ahead.
Rahul Jain
Yeah, hi, I hope my line is okay. Hello.
Vishnu R Dusad
Hello, how are you?
Rahul Jain
I’m good. If my line is okay.
Vishnu R Dusad
Yeah, no, we are not able to Hear you very clearly. Sorry.
Rahul Jain
Okay. I. Is it any better?
Vishnu R Dusad
Yeah, certainly better.
Rahul Jain
Yeah. Yeah. Thank you. So I have few questions related to the announcement that you have made during this quarter. One important one which I could, I could see is the creation of a role of cmo. I. I’m not sure whether this role existed earlier. So any color in terms of what would be the Precise responsibility of Mr. Abhin Kare in this role and what we are trying to aspire from this. And secondly, there was this announcement related to going live with HNB on the Phoenixia. So you know, it’s very heartening to see Phinexia announcement after a very, very long time.
I’m sure there must be deals but very rarely we hear about this. So any color in terms of how both the products are doing and more so on the Phinexia side. So that would be great. Thank you.
Vishnu R Dusad
The first part I would request Ashish to talk about and the second part Anurag and then we’ll talk about.
Ashish Khanna
Right. So thank you very much, Mr. Dashish. So the CMO role again I was kind of doing an additional responsibility of a Chief Marketing Officer and you know, as we were talking about, you know, the world class product which we are building, we were not able to market it the way we wanted it. You know that step three kind of a weakness you are trying to mitigate with those trend. And that’s the reason we have, you know, we are being trying to change market presence, market perception of our product from last couple of years. And this is an attempt to further strengthen that particular initiative of ours to position this product, this robust product which is handling more than $1.2 trillion about the retail assets when it comes to our lending product from Neo and when it comes to our product finisher which we also talked about which is handing more than $15 trillion worth of transactions in one year.
So I think it is important for us to have a very right focus on the new age marketing to build our thought leadership. So that’s the reason and Ameen, we welcome him as our Chief Marketing officer who will be responsible to lead this from the front to build this brand to wide out the thought leadership which we have established from close to four decades now. And this is primarily an initiative to strengthen that positioning of Nucleus to help customers understand more depth of our products and talk more richness about the features which we have already built and lots of of customers already taking advantage out of it.
So that’s the reason, you know, we have strengthened that particular we have created and send in a particular role for us. So I hope this answers your query Rahul on the CMO front. Yes, okay, sure. Thanks. I’ll hand over to Anurag to respond to the give you a reply on the Finexia front. Anurag over to you.
Anurag Mantri
Thanks Rahul for your question. This is Anurag. Thanks for taking a note of the recent announcements about hnb. It’s actually very encouraging and exciting that a market leader bank like HNB is observing and experiencing great growth on our platform. You may have missed that few months back. A leading bank from southern India called. Federal has also gone live on Phinexia and this is a bank which is known for its digital adoptions and they are also experiencing great growth on our platform. So before HNB Federal was the feather. In the cap with respect to the. Plans for Phinexia we are seeing very good traction, strong traction in the verticals like financial supply chain and trade finance. So quite a few discussions are progressing with different prospects and customers. Hope that answers your question.
Rahul Jain
Sure. And lastly on the order book number, I’m sorry I know it’s been repeated twice but somehow it was not very clear to me. What I could gather is that that number has moved to 700 something crore from 612 crore. So first of all if you could clarify that number to me.
Parag Bhise
Precise numbers. If you can share for both quarters.
Tapan Jayaswal
Total order book position is 703.16 crore putting 608.7 crore of product business and rupees 94.46 crores of project and services business. And on 31st March the order book position was rupees 612.4 crore including rupees 534.32 crores of product business and rupees 78.08 crores of project and services business.
Rahul Jain
Got it. So and the related question to this data is that we saw some, you know, a drop in this number from the run rate we used to do a year back and now after Q4, you know this again started to looking slightly better. So in terms of any color you would like to share that what could have caused this momentum to temporarily take some pause and is getting some, you know mojo back. So any color on that, what could have caused this number to going down and coming back? Anything would help.
Parag Bhise
I think we had mentioned in the past that couple of quarters earlier we did experience some slowdown in the sense that there was traction in the market but converting orders were taking time. A lot of involvement in closure of orders. Typically we are saying that these decisions are now going to moving to board levels. The boards are getting involved because I think they are directed by the regulators to be more involved in due diligence. So because of all this, yes, there was delay in closure. Thankfully we built up our pipeline. We have been focusing on it.
So conversions have started to happen. Hopefully they will happen more. But that that involvement which I mentioned at board level continues to be there. That’s one significant change we have noticed.
Rahul Jain
And I know we generally refrain from giving any forward looking statement but maybe a directional thought process could really help here. We have seen a flattish kind of a year last year from a product revenue point of view. So and we started well at least in Q1 if I see a 10% YoY growth. So would it be fair to see this year to be a double digit growth year or you think the scenario has not changed to a situation where it would be difficult to conclude any such assumption?
Parag Bhise
Look, our narrative has been consistent. We don’t share forward numbers. I can only say that what we. Have it will be a reputation. But we continue to focus on fundamentals. We continue to focus on our lean initiatives. Product focus is there. Customer focus is there. Mr. Ashnu talked about getting into other markets so we are focusing on other. We talked about the US market. So the attempts are all. Obviously we will not be able to share any indications on numbers or growth margins.
Rahul Jain
Right. Or maybe in an indirect way if you could cover it in terms of what the pipeline looks like in terms of is it higher, weaker in a region wise or any color in any form would be helpful.
Parag Bhise
I think, I think beyond what we all mentioned so far, nothing further we can share.
Rahul Jain
Sure, sure. I will wait for the words to come. Thank you.
Vishnu R Dusad
Thank you.
operator
Thank you. Once again. If wish to ask a question, please press Star and one on your telephone and wait for your name to be announced. I repeat, if you wish to ask a question please press star and one on your telephone and wait for your name to be announced. Next question comes from Vinay Nadkarni from Hathaway Investments Private Limited. Please go ahead.
Vinay Nadkarni
Yeah, thank you for the opportunity. I just wanted to know this. You in the opening remarks you had said that there was one cola. Can you just elaborate something on that? What was this project and because it was the biggest project that you have done.
Mukesh Bangia
So this is Sukesh. This is a transformation of our Finland to Finland Neo for our Finland NEO collections.
Vinay Nadkarni
Okay. And there was a mention of some 20,000 users using the software. So.
Mukesh Bangia
Please come again.
Vishnu R Dusad
20,000 users using this Product. So is this a very big client for you?
Mukesh Bangia
Yes, certainly. So in this we have a solution of in the new collection and mobility solutions. So 20,000 users are logging into this system on daily basis. And in addition to that, there is a kind of India integration ecosystem which has been built and working in this transformation program which has gone live.
Vinay Nadkarni
Okay. So this quarter revenue includes the sizable chunk of revenue from this project which is now closed.
Mukesh Bangia
This project has another phase in terms of few more modules going live. So yes, some as a part is. Yeah, phase one is closed.
Vinay Nadkarni
Okay. And there was another announcement, something that you said you would be announcing in the coming months and we should be looking forward to it. Any color you would like to give on that, what exactly is it about?
Mukesh Bangia
No, I think on this side we will not be able to share anything.
Vinay Nadkarni
Thank you very much.
Vishnu R Dusad
Thank you.
operator
Thank you. We have a follow up question from Mahav Singh, an individual investor. Please go ahead.
Unidentified Participant
Yeah, so the employee costs are likely to remain constant in the coming quarters and operating expenses also do not have any one off items. So the margins are going to deplete. This year.
Vishnu R Dusad
We’Ll see an ongoing attempt to increase our top line and that is how we will be wanting to get back to the margin that we had last year.
Unidentified Participant
Okay, so you are relying on new sales, right?
Vishnu R Dusad
Yes.
Unidentified Participant
Okay. Thank you.
operator
Thank you. If you wish to ask a question, please press star and one on your telephone and wait for your name to be announced. I repeat, if you wish to ask a question, please press star and one on your telephone and wait for your name to be announced. We have a follow up question from Mahak Singh Di, an individual investor. Please go ahead.
Unidentified Participant
Yeah, do we have the logos total available now?
Vishnu R Dusad
Nothing will. Vishal will provide it in economics.
Unidentified Participant
Okay. Okay. Thank you.
operator
Thank you. If you wish to ask a question, please press star and one on your telephone and wait for your name to be announced. I repeat, if you wish to ask a question, please press star and one on your telephone and wait for your name to be announced. As there are no further participants, I would now like to hand over the floor to Mr. Vishnu for his closing comments.
Vishnu R Dusad
I would like to take this opportunity to thank you all once again for your interest in nuclear software and would like to reiterate our commitment to deliver value to all our stakeholders on a long term basis. Thank you very much.
operator
Thank you. That concludes our conference for today. Thank you for your participating and you may all disconnect now. Thank you.