lindholme gear ( also known as air sea rescue apparatus mk 4 ) was a british air-dropped rescue equipment designed during the second world war to aid survivors in the water and was still in use in the 21st century .

lindholme gear

lindholme gear is five cylinder - shaped containers joined together by lengths of floating rope .
i wonder if this gear is the lindholme asr equipment mostly associated with the warwick asr aircraft .
we usually dropped upwind from the shack . this navigator did drop a lindholme gear and saved a few lives .
then in use . the lindholme gear is five cylinder - shaped containers joined together by lengths of floating rope .
finally 204 asr stage c or mk i aircraft were built . these could operate in four different configurations – lindholme gear only ; lifeboat mk i and lindholme gear ; the heavier lifeboat mk ii only ; or long range with extra fuel .
next came twenty asr stage b aircraft . these carried the lifeboat , two sets of lindholme gear and were equipped with asv radar .
a raf training film produced by nettlefold at burgh island studios . shows air - sea rescue by dropping five containers with the lindholme dinghy gear and food and drink .
next came ten asr stage a aircraft . these could carry the airborne lifeboat mk i , designed to be dropped directly into the sea and two sets of lindholme gear .
hi kahu1 , please pm me , i have some info on lindholme containers . cheers hangarman
as fareastdriver says , the lindholme or later asra gear was heavily drogued for the reasons stated . somewhere i have a copy of the dropping procedure used on the nimrod . if i can find it i shall scan it and post it here . ys
i would have thought that the lindeholme gear would have had water anchors and would have stayed where it was in the water . the survivors would then pull theirs up and drift towards it . survivors can paddle crosswind ; lindeholme gear cannot .
the sar equipment carried by the standby aircraft is called lindholme gear , after the raf station which invented it , and is a series of dinghies and survival packs joined by buoyant rope . the string of equipment is dropped upwind of survivors and floats downwind to them .
please can anyone point me in the right direction ? i am building a sanger models ( vac - form ) avro shackleton mr2 and am searching for some photos of the lindholme gear carried in the bomb bay of said
growler
/ 22000 rivets in close formation
.
the lindholme gear are the three ' stacked ' containers , whilst the large container with shj 1 on the end is a cle mk 3 paratroop supplies container in use as a land supplies container . the other two items are smoke floats or parachute flares ( not sure ) .
the gear would be carried in the weapons bay of the aircraft and dropped in a long line up - wind of the survivors .
the lindholme asra ( air sea rescue apparatus ) were linked together by a bouyant rope and they were two containers with supplies and a larger container containing a life raft .
believe it or not i do recollect that the gear was tested by dropping it into the river trent lower reaches . the defiant may have been the aircraft test platform .
the most important use of the warwick was as an air - sea rescue aircraft . it was decided to equip these aircraft with lindholme rescue gear and with air - droppable lifeboats . the asr warwick entered service in small numbers late in 1943 , and appeared in large numbers in 1944 , operating from bases around the british coast , on iceland , in the mediterranean and over the bay of bengal .
lindholme containers were made from waxed cardboard tubes with a metal cap on one end and the other end closed by fabric flaps retaining the parachute and hanks of bouyant rope , all three containers were yellow in colour .
. . . it would indicate the historical progression of development for airdropped dinghies was the defiants and others using type ms - the defiant asr was active in the med in 1942 - to airdropped hardhulled lifeboats like the uffa fox boat also dropped by the warwick . . . active from 1944 onwards . . . to the lindholme gear which was designed alongside them as the hardhulled lifeboats weren ' t overly satisfactory .
this may help . shack mr3 phase 3 sharja asr standby . we also hung lindholme on to our valetta c1 on malta comm squadron after the mod disbanded 38 sqdn - and carried a few more plus smoke floats in the cabin : -
i ' ve just seen a painting of a shackleton dropping a set of lindholme gear to shipwreck survivors . the drop has been made downwind . i thought the drop was made upwind so that the automatically inflated life - raft and accompanying survival containers ( attached to the life - raft by 100 yd ropes ) would be blown towards the survivors ? is my brain playing its usual tricks or has the artist been badly advised ? any coastal navigators out there remember the procedure ?
depended on the drift rate of the survivors . usually upwind but sometimes downwind . once dropped upwind on an inverted yacht , before the gear got to them the mast and rigging broke off and the hull sped away . next drop was downwind .
several early attempts were made to improve the equipment that aircraft already carried or which could be dropped to airmen in dinghies . first of all came the ‘lindholme gear’ – an emergency supply cannister – invented by raf group captain waring and from this evolved the ‘bircham barrel’ , ( developed at nearby raf bircham newton , langham’s ‘parent’ air field ) . it was made from a cardboard delivery container for a bomb tail - fin , strengthened with steel . it held signal flares , tinned water , condensed milk , emergency rations and a first aid kit .
landing gear : the landing gear was a two - stage retractable type with the main wheels retracting vertically and then backwards into the inner engine nacelles taking part of their fairings with them . retraction was powered by electric motors with alternative hand operation . twin castoring retractable tailwheels type dunlop ws30 . in order to accommodate the raf bomber command requirement to shorten the take - off and landing , a very long landing gear was utilized making the aircraft prone to swing violently on take - off and landing . the undercarriage retraction motors were originally located inside the nacelle , but were later relocated inside the fuselage to allow for manual retraction in the event of motor failure . the electric retraction motors often failed , being wholly inadequate for the task . the stirling had one of the largest tires , manufactured by dunlop , on a british aircraft at the time .
40 b . is were converted in production to
warwick asr mark i
configuration , retaining defensive armament , and hauling two airdropped lindholme rescue kits , each with an inflatable raft and survival kit , entering service in august 1943 . they were followed by production asr . is , in three
stages
:
the earliest asr aircraft were conversions that were equipped to carry two sets of lindholme rescue equipment , a set of ten boxes that carried life rafts and supplies . in this configuration the aircraft was given the designation warwick bomber / asr . 40 or 50 were produced , some by converting the existing b . mk is .
* the wellesley was likely a futuristic - looking machine when it was introduced , and indeed it retains a certain sci - fi
retropunk
look in the 21st century . it had twin cockpits , one forward and one aft , connected by a cabin with windows on each side . it was powered by a bristol pegasus xx air - cooled nine - cylinder radial engine providing 690 kw ( 925 hp ) , driving a de havilland - hamilton three - bladed variable - pitch propeller . it had taildragger landing gear , the tailwheel being fixed , the single - wheel main gear pivoting from the wings towards the fuselage .
why include inflatable dinghies ? . the airborne lifeboats , by their very nature , were dropped from aircraft , and in most cases to assist ditched airmen that were adrift in their aircraft dinghies . some explanation would have sufficed , but it is thought that more in depth details of design , development and construction was required to supplement the associated development of airborne lifeboats . airborne lifeboats were devised from observations of inflatable dinghies , and indeed the inflatable dinghy in the form of the air dropped lindholme gear was the eventual demise of the airborne lifeboat . raf marine craft also carried inflatable dinghies , and two types of marine craft were designed to carry airborne lifeboats - both for the same purpose .
the type 447 windsor had the geodetic construction of the wellesley , wellington , and warwick , with a skinning of a steel wire mesh - based composite material . it had taildragger landing gear ; unusually , there were four main gear , one in each engine nacelle , all with single wheels . the type 447 had a wingspan of 35 . 71 meters ( 117 feet 2 inches ) , a length of 23 . 43 meters ( 76 feet 10 inches ) , and an empty weight of 17 , 750 kilograms ( 28 , 605 pounds ) . top speed was about 510 kph ( 315 mph / 275 kt ) , with a ceiling of 8 , 300 meters ( 27 , 250 feet ) .
ninety more gr . mk iis were ordered for meteorological duties , although only fourteen were ever built . as with the gr . mk ii , the meteorological version never entered squadron service . the fourteen aircraft had their nose gun removed and replaced with a wide - vision glass nose , all bombing gear was removed to reduce weight and an oxygen system was installed .
hmmmmmmmmmmm ! some say upwind , some say downwind . . . . . . . . suck it and sea ! ( i don ' t feel bad about not remembering maybe that ' s why we always carried two sets of lindholme on sar aircraft . thanks shackman , the 200 / 400 ft rings a bell - i always wondered why they didn ' t use 300ft each side of the liferaft ?
when rfd gq , the equipment manufactures , heard that we were hanging lindholme mk3 on to our valetta , they very kindly sent us a few brochures out together with the offer to come out to malta to give us a hand to mount it under the aircraft . the offer was gently refused by the mod but i kept one of the brochures and have cobbled together bits and pieces from it that are relevant to this query .
i ' ll give you a clue . . ! 140 ' . . . 140kts . . . after faffing around with flame floats for a while . .
beam , capt , when i say mark drop one flame float . .
one gone !
not yet you eejit !
ad infinitum . . pretty sure the lindholme was dropped upwind so that the ms9 would drift down towards the survivor ( s ) . happy days ! sv
as a result , the wellington b . ia was followed by the
wellington bomber ic
, with 2 , 685 built into 1942 by the main factory at weybridge ( 1 , 052 ) , plus the shadow factories at chester ( 1 , 583 ) , and blackpool ( 50 ) . it had the updated armament fit , larger main gear wheels , plus better electrical and hydraulic systems . with refinements in production techniques , the complexity of the geodetic airframe became much less of an obstacle to manufacture .
* the
wellington bomber mark ii
was introduced in october 1940 , the primary change being replacement of the pegasus xviii engines with rolls - royce merlin x water - cooled vee - 16 engines , providing 855 kw ( 1 , 145 hp ) , instead of radials . it also had a larger tailplane , and beefed - up landing gear . an initial prototype , the
type 298
, had been flown before the outbreak of war . 401 b . is were built , all at weybridge .
* a viking 1b , the 158th viking built , became the prototype of the military
valletta
, named after the maltese city , this machine performing its initial flight on 30 june 1947 , with mutt summers at the controls . the valleta featured more powerful hercules 230 radials with 1 , 475 kw ( 1 , 975 hp ) each ; a double cargo door , with an inset passenger door , on the left rear side of the fuselage ; a reinforced floor ; and longer - stroke landing gear . 211 were delivered to the raf as
valletta c . 1
utility transports , capable of carrying 34 equipped troops , 20 paratroops , or cargo .
virgo , my memory , like most on this thread it seems , is somewhat hazy ! but something in the deep , dark , recesses of my brain is telling me that the sop for lindholme / asra drops from the andover was downwind . i do however remember the practice drops we used to do off the coast of masirah marking the pattern with smoke floats and marine markers . on one occasion the nav called
mark
and my mate , stood in the door with a float in his hand , replied
did you call nav ?
before realizing it was a command . you can probably guess what his name was ! you also had to remember to take the
safety
pins out before the drop , very embarrasing if the ms 9 didn ' t inflate ! !
the b . 9 / 32 prototype , the vickers
type 271
, took to the air for the first time on 15 june 1936 , the pilot being joseph
mutt
summers . it was a midwing monoplane with twin bristol pegasus x radial engines , providing 680 kw ( 915 hp ) each and driving three - bladed variable - pitch props ; retractable taildragger landing gear ; and a fabric - covered geodesic airframe . the prototype was unarmed , though it was designed to have a single machine gun on a flexible mount in nose , tail , and dorsal positions . the prototype crashed after a flight structural failure on on 19 april 1937 , the pilot being thrown out and parachuting to safety , the flight engineer being killed .
following end of production of the valletta , vickers then built a crew trainer variant , the
varsity t . 1
, as per air ministry specification t . 13 / 48 , the initial prototype performing its first flight on 17 july 1949 . the varsity was a major redesign , with tricycle landing gear ; wider wingspan ; a longer fuselage , with a longer nose , stretching length again by 71 centimeters ( 28 inches ) to 20 . 57 meters ( 67 feet 6 inches ) ; a ventral pannier for a bombardier and practice bombs ; and hercules 264 engines with 1 , 455 kw ( 1 , 950 hp ) each . the maximum number of people carried was up to 11 , though it was generally less than that , the number depending on the specific training requirement .
* following trials fit of bristol hercules iii radials , with 1 , 065 kw ( 1 , 425 hp ) each , on a b . ic , production moved on to the
wellington bomber mark iii
, with hercules xi radials , providing 1 , 185 kw ( 1 , 590 hp ) each . the b . iii also featured de - icing gear , plus - - following initial production - - a new fn mark 20 tail turret , with four 7 . 7 - millimeter machine guns , instead of two . a total of 1 , 519 b . iiis was built at weybridge ( 2 ) , chester ( 737 ) , and blackpool ( 780 ) . the b . iii was the backbone of raf bomber command until the four - engine
heavies
such as the lancaster arrived .
to test the aerodynamics and controllability of the new type , the s . 31 was designed as the half - scale prototype with a powerplant of four 90 hp ( 67 kw ) pobjoy niagara iii radial engines . the short s . 31 made its first flight on 19 september 1938 and revealed good overall handling characteristics . short had originally decided on an incidence of 3° giving the best possible cruise performance , but the raf asked that the incidence be increased to 6 . 5° , being more concerned with improving take - off performance than the cruising speed . in order to accommodate the raf request for increased wing incidence a major re - design of the central fuselage would have normally be undertaken , but because of time restraints , short decided on a
quick fix
by lengthening the main landing gear legs to give a higher ground angle .
variant built mod notes _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ viking 3 prototypes . viking 1a 19 initial production , with wellington wings . viking 1 29 ? metal wings , 12 as raf
viking c . 2
. viking 1b 113 fuselage stretch . nene viking - 1 temporary jet viking 1b conversion . 164 subtotal valletta c . 1 211 military utility transport . valletta c . 2 11 military vip transport with more fuel . valletta t . 3 40 crew trainer . valletta t . 4 - 18 t . 3 with radar nose . 262 subtotal varsity t . 1 163 crew trainer with tricycle landing gear , etc . _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 589 total _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
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i thought you might be interested in this item at urltoken title : journal publisher : [ wotton - under - edge ] : royal air force historical society . isbn / issn : 1361 - 4231 oclc : 175174953
great britain . - - royal air force - - history - - periodicals .
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journal / royal air force historical society . ; ; [ wotton - under - edge ] : royal air force historical society .
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hi ,
obsessed member
- sad to say , but you just replicated my search ( or at least the first 5 minutes of it ) .
incidentaly , the cle conatiner was designed by the central landing establishment in 1941 and remained in service with the nimrod fleet by which time it was known as the container land equipment , the raf having forgotten its origins as a paratroopers weapon container .
not a lot julien . my biggest regret is that i didn ' t manage to get a shot of 51 ' s varsity with
hookah
aerials fitted to the wings - looked like big tobacco pipes but by using my youngest son as an excuse , i managed to get a shot of one of the comets with
cherryaid
fitted in place of the square windows . i didn ' t push my luck and ask what it did .
oh boy you are new ! ! - hth = h ope t hat h elps . heard a good one on qi last night . you ' ve heard of lol - you must have , how about mas = m ildly a mused s mirk .
thank you aeronut , that is one of the most succinct and accurate descriptions that i have ever seen on this site - saved me from doing it ! thanks pal . the two smaller items were in fact parachute flares which we did not carry on the valetta . the smoke floats had small rounded fins at one end and were painted green .
i have attached also a photo of the asr shack at sharja showing the guns that were always fitted to these aircraft , irrespective of the role at the time . have also attached a photo of my pride and joy for two years vw856 with the mk3 underslung on the rear external points . the containers , when carried , were slung from the front external points .
airfix - humbrol note . the bottom shot is of a vickers valetta - a british designed and built transport . and you ain ' t heard nothing till you ' ve heard twin hercules radials purring away gently whilst you cruise the med at someone else ' s expense . i / we / us need a kit of it - and at my time of life - make it snappy ! ! ( please ? ) .
sign up for a new account in our community . it ' s easy !
also , i ' m trying to find out how it was carried . i assume if in a large - ish canister - it had to be carried on a bolt - on
universal no . 1 bomb carrier
? ? ?
. . . . the same as the asr version of the lysander could on its wingstubs . does anyone know if this canister is the same as the small stores container . . . this one ? ? ?
well - i wasn ' t able to find out the actual weight . . . . but instead i was able to find something better !
as you can see - instead of going for the obvious and using a pair of the light series carrier mounting lugs to hang a universal carrier and hang the dinghy container on that . . . . the raf in a month from february 1942 to march 1942 came up with an entirely different and rather
heath robinson
solution !
and as for why - i know we all have our own little special areas of research .
harry - i don ' t think so ; looking at the wiki description of it . . .
the centre container would house a nine - man inflatable dinghy with the other containers housing survival equipment such as emergency rations and clothing .
. . . even the
central
dinghy container for a 9 - man dinghy must have been far bigger than the defiant item .
. . . and the shackleton and nimrod ! it ' s still in use , though the present
asr mk4
as it has become known comprises only two tethered para - braked containers .
i ' m very new to this site - tonight in fact - at the start of a journey to find out about my fathers ww2 service . he died 13 years ago and never talked about the war . all i know is he flew defiants , served in port said , rhodesia and malta - his name was tom scott - he was scottish and hailed from either tranent nr edinburgh - or if my grandparents had moved by then , greenock , south west of glasgow . i ' ve just downloaded a form to send off with my £30 to try and obtain his war record , but just wondered if you might have served with him .
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hi bob , from memory the early ones were large cardboard tubes with a plywood base one end and a parachute at the other . the later ones were fibreglass . will have a look through my paperwork for more info . hangarman
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air crews were precious . if there was a hope of saving airmen , a rescue attempt was organised . nowadays , helicopters do a lot of air sea rescue work . in world war 2 helicopters were still in the early stages of development .
airmen who had to ditch into the sea close to the british coast stood some chance of being successfully picked up by a rescue boat . when they had to ditch near the enemy - occupied coast , it was a different matter . the planes carried emergency dinghies but these were very small .
in this situation , aircrews could use their radios to send an distress message . if the radio was damaged , many aircraft carried pigeons as an emergency form of communication .
even in midsummer it’s no joke being in the water of the north sea . in cold water , hypothermia quickly sets in . your arms and legs lose strength , your mind slows and you lose determination . help for these stricken airmen had to come quickly .
in a period of just three weeks during the battle of britain in 1940 , 220 airmen were killed or went missing over the sea .
this was a huge loss of human life but on a coldly practical level , the hard pressed raf simply could not continue to fight the war if this rate of losses among aircrew were to continue . for both of these reasons , effective rescue services were urgently needed .
group captain waring then had the idea of an airborne lifeboat to be carried onboard aircraft and dropped into the sea to help ditched aircrews .
however , the requirements for such a craft were stringent . it had to be light and aerodynamic so that it could be carried under an aircraft but sturdy enough to cope with being dropped into the sea at around 25mph . it had to be safe in stormy weather , so virtually unsinkable and self - righting . it also had to have easy - start engines , very simple sails and carry enough fuel to sail 500 miles .
and of course , in a wartime economy , it had to be quick and cheap to build .
boat - building expert , lieutenant robb , drew up initial plans and celebrated yacht designer , uffa fox , developed them . after a long gestation , the first successful lifeboat drop happened on 5th may 1943 .
more than 400 of these boats were built in small boat yards all over the country . there were blueprints for every tiny component and standards were exact . the boats all had to be identical to avoid confusion and frustration when they were put to use .
the airborne lifeboat’s hull was a double skin of mahogany with water - proofed calico cloth between . eight watertight compartments contained equipment and supplies , an instruction book and the two engines . each boat was 23 . 5ft ( 7 . 2m ) long , 5 . 5ft ( 1 . 7m ) wide and weighed 1630lbs ( 740kg ) . it had two 4 hp engines as well as a sail and could float in just 1ft ( 30cm ) of water .
any member of the allied forces whose life had been saved by a life jacket ( ‘mae west’ ) , or a rescue boat was eligible to join the gold fish club .
they received a badge but since it was unofficial , aircrew used to sew it under the lapel on their uniform . by the end of the war there were 9000 members !
the airborne lifeboat played its part , saving some 5 , 721 aircrew lives around britain .
an airborne lifeboat and warwick of 280 squadron , langham 1944 . © trustees of the raf museum .
a member of the crew of an raf coastal command lockheed hudson holding a carrier pigeon , 1942 . © iwm ( tr 42 ) .
not at langham . a lifeboat is loaded underneath a warwick . © www . flypast . com .
an airborne lifeboat ( top ) at the museum of the broads . © ugly studios .
an airborne lifeboat at the norfolk and suffolk aviation museum . © ugly studios .
280 squadron warwicks flew air - sea rescue ( asr ) missions from langham . a failed bomber , its success in asr is often overlooked , along with the bravery of the crews . © pete west .
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air - dropped rescue equipment designed during the second world war to aid survivors in the water and was still in use in the 21st century .
the survivors can then use the dinghy and haul in the containers of equipment and await rescue .
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vickers viscount , vickers wellington , vickers vc . 1 viking , vickers viking , vickers vildebeest
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air ministry specification b . 12 / 36 called for the design and development of a strategic four - engined heavy bomber that could quickly is placed into production , giving the raf bomber command a high - speed aircraft capable of delivering a large bombload at long ranges . it was to be crewed by seven or eight men with defensive armament consisting of multi - gunned nose , ventral and tail turrets . the initial maximum take - off weight had to be between 48 , 000 lbs ( 21769 kg ) and 53 , 000 lbs ( 24036 kg ) , but with the capability of that figure being increased to around 65 , 000 lbs ( 29478 kg ) . the weapons bays also had to be compatible with all standard raf bomb ordnance in use at that time . the specification also demanded that the aircraft be capable of lifting off a 500 ft ( 152 . 4 m ) runway and is able to clear 50 ft ( 15 . 2 m ) trees at the end , with the wingspan not exceeding 100 ft ( 30 . 48 m ) .
several companies submitted their designs to the air ministry , these being armstrong whitworth , short brothers and supermarine . the armstrong whitworth design was rejected , and both short brothers and supermarine were asked to construct prototypes . supermarine ' s type 317 prototype was still under construction when the factory was bombed by the luftwaffe early in the war . the factory and prototype were virtually destroyed , causing supermarine to withdraw from the competition leaving only the short brothers design .
at the end of 1938 , this change was incorporated on the short s . 31 prototype . other changes included the installation of four 115 hp ( 86 kw ) pobjoy niagara iv radial engines . in order to address longitudinal control problems horn - balanced elevators were installed but these were soon replaced by a larger tailplane with conventional elevators .
a short s . 29 stirling mk iii ( w7455 oj - b ) based in mildenhall in early 1942 with no . 149 squadron . later in the war this particular aircraft was lost to a night intruder over great thurlow .
as 1942 progressed , no . 7 squadron ( with its stirling ' s ) and other bomber command squadrons were transferred to form the nucleus of the newly formed no . 8 ( pathfinder ) group . by the end of the year , the new mk . iii stirling ' s , equipped with 1 , 675 hp bristol hercules xvi engines and a new dorsal turret design , were entering service and slowly replacing the mk i ' s .
by late 1943 , german flak defences were inflicting serious losses to the stirlings , mostly due to its low ceiling caused by its restricted wing span . it was soon evident that such losses could not continue and air marshal harris , was forced to withdraw the aircraft from operations . by early 1944 , as supplies of the avro lancaster became available , most of the stirling squadron ' s began to re - equipped with this type . although , it would not be until september 8 , 1944 that no . 149 squadron , flew last operation stirling sorties against le havre .
the stirling never lived up to it potential as a great bomber ( in no small part to the raf bomber commands requirement changes ) but it a proved very popular aircraft with its crews , who dubbed it the
fighter bomber
due to its excellent manoeuvrability and rugged construction . on one occasion four german night fighters attacked a stirling from no . 218 squadron on a night raid in 1942 . manoeuvring for its life , the stirling managed to shoot down three of the attackers before returning to base safely , although a little battered . as a result of its high wing loading , the stirling had a high roll rate and was manoeuvrable enough to out - turn the junkers ju 88 and bf 110 night fighters .
the stirling mk v transport was the last version of the aircraft built for raf transport command . this was configured to carry 40 troops , or 20 fully equipped paratroops , or 12 stretchers and 14 seated casualties . it could be used also for loads such as two jeeps with trailers , or a jeep with a field gun , trailer and ammunition . the mk vs were the last stirlings in service , being gradually replaced by the avro york , with the last of them withdrawn from use in 1946 . production on belfast built mk v totalled 160 aircraft . during 1947 airtech limited of thame , oxon , converted 12 stirling mk vs for use by a belgian civil operator under the name silver stirling .
official service figures credit the stirling with 18 , 440 sorties flown in which 27 , 821 tons ( 28268 tonnes ) of bombs were dropped and 20 , 000 mines were laid , for the loss of 769 aircraft .
manufacturer : short brothers ( rochester & bedford ) limited based in rochester , kent , england . the company was founded in 1898 by the brothers eustace and oswald short , originally building spherical balloons but they later concentrated on the building of flying boats . in 1936 , short brothers limited and harland & wolff limited ( shipbuilders ) of queen ' s island , belfast , northern ireland , formed a partnership under the name short & harland limited . also built by austin motors limited in longbridge . production would eventually be dispersed to over 20 different factories .
powerplant : four 1 , 675 hp ( 1250 kw ) bristol hercules xvi 14 - cylinder sleeve - valve double - row air - cooled radial engines rated at 2 , 900 rpm at 4 , 500 ft ( 1370 m ) ; 1 , 615 hp ( 1205 kw ) at 2 , 900 rpm for take - off ; 1 , 050 hp ( 783 kw ) at 2 , 400 rpm at 10 , 250 ft ( 3130 m ) . engine weight ( dry ) 1 , 930 lbs ( 875 kg ) . the fuel used was 100 or 130 octane . the propeller was a metal three - bladed de havilland hydromatic type 55 / 10 variable pitch , constant speed full - feathering airscrew with a diameter of 13 ft 6 in ( 4 . 11 m ) .
performance : maximum speed 270 mph ( 435 km / h ) at 14 , 500 ft ( 4420 m ) ; economical cruising speed of 233 mph ( 375 km / h ) at 11 , 000 ft ( 3355 m ) ; service ceiling 17 , 000 ft ( 5180 m ) ; initial rate of climb 800 ft ( 245 m ) per minute .
fuel capacity : seven cylindrical self - sealing ( except the leading - edge tank ) fuel tanks in each wing outboard of the wing bomb cells , giving a total of 2 , 254 imperial gallons ( 2 , 707 us gallons or 10246 litres ) , plus provision for 220 imperial gallons ( 264 us gallons or 1000 litres ) of auxiliary fuel in tanks installed in each of the wing bomb cells for an additional total of 440 imperial gallons ( 528 us gallons or 2000 litres ) . the systems could be interconnected if necessary by operating an inter - system balance cock in the centre section .
oil capacity : each engine had its own oil tank with a capacity of 33 imperial gallons ( 40 us gallons or 150 litres ) .
range : 590 miles ( 950 km ) on internal fuel with a bombload of 14 , 000 lbs ( 6350 kg ) . 2 , 010 miles ( 3237 km ) on normal internal fuel with a bombload of 3 , 500 lbs ( 1587 kg ) . ferry range ( clean ) of over 3 , 000 miles ( 4831 km ) was possible using auxiliary fuel tanks . range on the short s . 29 stirling was one of its major weaknesses . while it was capable of carrying a tremendous amount of ordnance , it could only do this a very short distance . as a result , on most missions to get the desired range , bombload was sacrificed .
weights & loadings : empty ( clean ) 43 , 200 lbs ( 19595 kg ) , empty ( equipped ) 59 , 400 lbs ( 26939 kg ) with a maximum take - off weight of 70 , 000 lbs ( 31751 kg ) . wing loading 48 lbs / sq ft ( 234 kg / sq m ) ; power loading 10 . 6 lbs / hp ( 4 . 85 kg / hp ) .
dimensions : span 99 ft 1 in ( 30 . 20 m ) ; length 87 ft 3 in ( 26 . 59 m ) ; height 22 ft 9 in ( 6 . 93 m ) ; wing area 1 , 460 . 0 sq ft ( 135 . 63 sq m ) .
armament : a total of eight 7 . 7 mm ( 0 . 303 in ) browning machine - guns plus up to 14 , 000 lbs ( 6350 kg ) of bombs . disposable stores were carried in a lower fuselage weapons bay rated at 11 , 000 lbs ( 4989 kg ) and in 6 wing cells each rated at 500 lbs ( 227 kg ) . normal loadout usually consisted of 2 , 000 lbs ( 907 kg ) armour - piercing bombs and / or 500 lbs ( 227 kg ) general - purpose high explosive bombs . the main bomb - bay in the fuselage is formed of two main longitudinal girders with arched members to the main floor . the bay is 42 ft 7 in ( 13 . 0 m ) long and fitted with six hinged doors . internal stowage for bombs is also provided in the centre - section inboard of the inner engine nacelles . a bomb overload of up to 25 , 500 lbs ( 11567 kg ) was possible but it reduced the range considerably .
2 × 7 . 7 mm ( 0 . 303 in ) browning trainable forward - firing machine - guns in the power - operated frazer - nash f . n . 5 nose turret .
2 × 7 . 7 mm ( 0 . 303 in ) browning trainable machine - guns in the power - operated frazer - nash f . n . 50 ( boulton - paul ) dorsal turret .
4 × 7 . 7 mm ( 0 . 303 in ) browning trainable rearward - firing machine - guns in the power - operated frazer - nash f . n . 20a tail turret .
1 x 7 . 7 mm ( 0 . 303 in ) browning trainable rearward firing machine - gun in a manually operated ventral position ( some aircraft only ) .
variants : stirling mk i , stirling mk ii ( two prototypes only ) , stirling mk iii , stirling mk iv , stirling mk v ( transport ) .
wings / fuselage / tail unit : the wings are of a mid - wing cantilever monoplane type with a two - spar all - metal structure similar to that of the short
empire
flying boat . gouge type trailing - edge flaps with chord equal to 48 percent of the total chord . the leading - edges of the wings are armoured and are provided with barrage - balloon cable cutters . the fuselage is a rectangular section with rounded corners with an all - metal structure built up of transverse frames covered with aluminium - alloy sheet with intercoastal stiffeners and all joints joggled flush with flush riveting . the tail unit is a cantilever monoplane type with a single fin and rudder similar in form and construction to those of the
empire
flying boats .
history : first flight ( s . 31 research aircraft ) 19 september 1938 ; first flight ( s . 29 prototype ) 14 may 1939 ; first flight ( production mk i ) 7 may 1940 ; final operational sortie 8 september 1944 ; final production ( mk v ) november 1945 ; withdrawn from service ( raf ) 1946 .
the vickers warwick was one of many examples of promising aircraft whose development was delayed by the choice of engines . it was originally designed as a twin - engined heavy bomber , and like the avro manchester was to use the rolls royce vulture . when the vulture failed to live up to expectations avro installed four merlin engines in the manchester , to produce the excellent avro lancaster , but vickers decided to keep the twin - engined design , and searched for more powerful engines . eventually over 800 warwicks would be produced , powered by either the pratt & whitney double wasp or the bristol centaurus .
the vickers warwick was developed as a twin - engined heavy bomber to satisfy specification b . 1 / 35 . this was a thoroughly un - ambitious specification , calling for an aircraft powered by two 1 , 000hp engines and capable of carrying 2 , 000lb of bombs over 1 , 500 miles at a speed of 195mph – by the time it entered service the wellington medium bomber could carry twice the bomb load , had a range of 2 , 550 miles and a speed of 235mph , and the wellington was powered by two 1 , 050hp bristol pegasus engines , giving it only 100hp more than envisaged for the b . 1 / 35 .
the warwick was developed alongside the final version of the wellington . although the specification for the wellington had been issued in 1932 ( b . 9 / 32 ) , it had taken four years for the first prototype to make its maiden flight ( 15 june 1936 ) . this early version of the aircraft was then virtually abandoned , and a complete redesign was begun . the redesigned b . 9 / 32 became the vickers type 285 , while the prototype of the warwick was the type 284 . structurally the wellington was essentially a cut - down version of the warwick . as a result the two aircraft had many components in common , especially in the geodesic members .
the first vickers design , of july 1935 , was powered by two bristol hercules heism engines . the company was awarded a contract to produce one prototype on 7 october 1935 . this prototype ( serial number k8178 ) would not make its maiden flight until 13 august 1939 . by this point the aircraft was powered by rolls royce vulture engines , a complex piece of machinery that merged two inline v engines and failed to produce as much power as had been hoped , while also proving very unreliable .
a second prototype was ordered on 2 july 1937 ( serial number l9704 ) . this aircraft eventually made its maiden flight in april 1940 , by which time it was powered by a pair of bristol centaurus engines . it had been hoped to use the napier sabre , but that engine failed to materialise in time , and when it did become available was reserved for fighter aircraft .
by the time the second prototype took to the air , the warwick was no longer needed as a heavy bomber , that role having been taken by the new four - engined heavies . despite that , on 3 january 1941 vickers was given a contract to produce 150 warwick mk is , powered by the pratt & whitney double wasp and 100 warwick mk iis , powered by the centaurus . only 16 mk . is and 1 mk . ii were ever completed .
the warwick was eventually produced in significant numbers . in january 1943 it was decided to turn it into an air - sea rescue aircraft . a total of 369 asr warwicks were produced . another 328 warwicks were produced as general reconnaissance aircraft for coastal command , but only a handful were ever used in combat . another 114 were produced as transport aircraft , and by the time production finished 845 had been built .
on 3 january 1941 150 warwick b . mk is , powered by the pratt & whitney double wasp r - 2800 - s1a4 - g engine were ordered . of these aircraft only sixteen were completed as bombers , for by the time the warwick was ready in the spring of 1942 the need for it no longer existed – the avro lancaster had already begun to enter service . some of the warwick b . mk is were used for service tests during the second half of 1942 , before most were converted to the asr / bomber role .


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

glassdoor has 386 nucleus software exports reviews submitted anonymously by nucleus software exports employees . read employee reviews and ratings on glassdoor to decide if nucleus software exports is right for you .
nucleus software exports ltd . stock price , share price , live bse / nse , nucleus software exports ltd . bids offers . buy / sell nucleus software exports ltd . news & tips , & f & o ; quotes
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 .
nucleus softwar closes above 30 - day moving average of 370 . 08 today .
nucleus softwar closes above 50 - day moving average of 431 . 44 today .
nucleus softwar closes below 50 - day moving average of 430 . 68 today .
nucleus softwar closes above 30 - day , 50 - day moving average today .
nucleus softwar closes above 150 - day moving average of 414 . 96 today .
nucleus softwar closes above 150 - day moving average of 410 . 83 today .
nucleus softwar closes below 30 - day moving average of 448 . 36 today .
nucleus softwar closes above 30 - day moving average of 457 . 43 today .
nucleus softwar closes below 30 - day moving average of 524 . 24 today .
nucleus softwar closes above 30 - day moving average of 517 . 79 today .
nucleus softwar closes above 150 - day moving average of 292 . 69 today .
nucleus softwar closes above 30 - day , 200 - day moving average today .
nucleus softwar closes below 30 - day , 200 - day moving average today .
nucleus softwar closes below 150 - day moving average of 291 . 62 today .
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 .