Navneet Education Ltd Company Summary

Navneet Education Ltd Summary

Navneet Education Limited is an Indian company whose operations are primarily manufacturing and trading of education and general books form, reference books, technical & professional books in paper form and e learning form and also paper and non-paper based stationary products. It caters to the educational need of India, as well as the global market.The companys products are sold under the Navneet, Vikas, Gala, Boss and Navneet Nxt brand names. Today, Navneet, under its umbrella publishes various supplementary books for the state of Maharashtra and Gujarat, various textbooks / extra-curricular activity books under the brand Grafalco and Textbooks for CBSE and ICSE segments under the brand Indiannica whereas Various Digital products in the brand Top Scorer. Navneet manufactures various scholastic stationery for Exports and Domestic markets. In Domestic markets, it sells under the brand Youva.Its portfolio of syllabus based Books includes high quality supplementary books like Digests (Guides), Workbooks and 21 Question Sets, most of which are published in four languages - English, Hindi, Marathi and Gujarati. The company has a dominant market share in Gujarat and Maharashtra. The company also produces various titles in the Children and General books category, which are not based on syllabus, such as activity books for children, board books, story books, health related books, cookery books, mehendi & embroidery books, etc. The company enjoys leading position in premiere stationery markets in India, the Middle East, parts of Africa, U.S.A. and Europe.Navneet Publications (India) Limited was incorporated in the year 1984. During the year 1994-1995, the company completed a project at Daman for manufacturing of paper stationery items. During the year 2000-2001, Navneet Edutainment Limited, the companys subsidiary, launched three e-learning modules Braininac, Answer Machine and Top Scorer on subscription basis. During the year 2001-2003, the companys paper stationary division steped up its distribution network and the company penetrated in 23 states across India. The companys Book publication division geographically expanded in the states of Madhya Pradesh and CBSE for educational books segment. Navneet Edutainment Limited, the companys subsidiary, launched economically priced CD- Roms Series, for std. V111 to X students.During the year 2003-2004, the company was awarded the Top Exported Awards for meritorious export performance in export of book publication, printing and printed material by Capexil. During the year 2005-2006, Navneet Edutainment Limited, a wholly owned subsidiary amalgamated with the company with effect from January 20, 2006. Also, the companys paper stationary division produced varied varieties of the paper stationary products for students community and for the use by offices. During the year 2006-2007, the companys paper division offered non- paper stationary products to the student community and it launched several products in this category. During the year 2007-2008, the company set up its wholly owned subsidiary namely Grafalco Ediciones S.L, which is engaged in the business of publishing children books in Spanish and other European languages.Consequent to the consent of members and subsequent approval from the Central Government, the name of the Company has been changed from NAVNEET PUBLICATIONS (INDIA) LIMITED to NAVNEET EDUCATION LIMITED effective from 27th August 2013.In FY 2013-14, the Company opened Orchids - The International School in Bengaluru (Karnataka) & Mumbai (Maharashtra). The Companys subsidiary eSense Learning Private Limited has been performing well and its B2B product (TOP CLASS) was installed in 2,047 institutions covering more than 11,400 classrooms during FY 2013-14.During the year under review, the Company bought back 46,57,000 Equity Shares of face value of Rs2/- each at a price of Rs125/- per Equity Share (including premium of Rs123/- per Equity Share) amounting to Rs 58,21,25,000/- on a proportionate basis through the tender offer as prescribed under SEBI Buyback Regulations. The buyback of 46,57,000 Equity Shares of face value of Rs. 2/- each was completed on 12th January 2017. The number of Equity Shares post buy back stands reduced to 23,35,58,000 of Rs. 2/- each and accordingly, the paid up Equity Share Capital also stands reduced to Rs. 46,71,16,000/-.