You are here » Home » Companies » Company Overview » Career Point Ltd

Career Point Ltd.

BSE: 533260 Sector: Others
NSE: CAREERP ISIN Code: INE521J01018
BSE 00:00 | 30 Sep 127.30 2.25
(1.80%)
OPEN

124.20

HIGH

128.50

LOW

123.45

NSE 00:00 | 30 Sep 127.65 3.30
(2.65%)
OPEN

123.00

HIGH

128.60

LOW

123.00

OPEN 124.20
PREVIOUS CLOSE 125.05
VOLUME 3854
52-Week high 165.60
52-Week low 98.00
P/E 17.30
Mkt Cap.(Rs cr) 232
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 124.20
CLOSE 125.05
VOLUME 3854
52-Week high 165.60
52-Week low 98.00
P/E 17.30
Mkt Cap.(Rs cr) 232
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Career Point Ltd. (CAREERP) - Chairman Speech

Company chairman speech

Dear and Esteemed Stakeholders

Despite always being positive and optimistic by nature let me start by writing that ithas been a difficult year for almost everybody. Many of us have Iost our n earand dearones. I would Iike to convey my heartfelt condolences for the same. Even as I write thismany parts of the world are facing second or even third waves of the Covid 19. However Iadmire the spirit of mankind. We are resilient and progressive species. I am 100%confident that eventually we shall get all under control.

The education sector has been dramatically transformed as a result of the pandemic.While it has caused significant disturbance in conventional business operation but at thesame time I am in opinion that the situation has opened the doors to take advantage of themultiple opportunities still untapped in the education sector. As the silver linepandemic not only pushed the sale of e-Learning products but also helped to increase thedemand for education from organized piayers.

Bearing the brunt of Covid-19 restrictions the physical campuses were not operationalfor teaching for almost entire year. However the students were being serviced throughonline mode of teaching. We demonstrated both resilience and agility in adjusting tochanged market dynamics. The robustness and scalability of our businesses particularlythe e- Learning businesses attracted students and our business partners that furtherstrengthened our business models across different divisions of formal and informaleducation. We at Career Point are now in very advantageous position with our hybridmodel of education delivery while leveraging technology platforms to network of differentcenters / institutions. I name it 'New paradigm of Learning'.

Career Point's e-learning division - eCareer Point - gained significant popularityduring the years with more th an 1.2 La cs App down loads an d th ousan ds of paidsubscribers. In addition to Engineering (JEE) and Medical (NEET) test-prep eCareerPointalso added offerings for Board preparation {school curricula) and Govt. Jobs Exams. I amalso pleased to share addition of two very promising offerings - Vedam Learning (1-to-lOnline Tutoring) and CP-Tab (Recorded Video Lectures) in Career Point's e- Learningdivision. In addition to high growth more efficient and scalable eL earning servicesacceptance of el earning in company's annuity driven and sustainable formal educationbusiness {education services to schools and universities) continued In financial year2020-21 your company recorded revenue of rupees 57.3 crores on consol basis with EBITDAof rupees 38.3 crores excluding write-off and provision amount. The adjusted EBITDA marginof 67% with remarkable improvement of 2250 basis points against previous year wasprimarily due to resil ient operating performa nee backed by in creased e-learning incomeand reduced costs. Despite an impact of extraordinary write-off and provision net worthof the company reported rupees 448 crores as on 31 March 2021. By end of year we havealso started restructuring of the company businesses and financials. It shall alignbusiness as per changed market dynamics and improve efficiency in operations.

In these testing times Career Point has been persistently guided by the set of definedstrong beliefs. Belief in our core values belief in student centric operating models andbelief in constantly trying out new innovative ideas. We remain focused on academicexcellence to our students while

You will also be delighted to know that we implemented various well being and safetyinitiatives during this tumultuous period. From providing oxygen concentrators andmedicines to ambulance services and vaccine supplies; our initiatives have been holisticand wide-ranging. Our efforts were not limited to Career Point employees and theirfamilies but also to the communities around us.

I would like to end by thanking all my colleagues for their extraordinary efforts thisyear in very challenging circumstances. On behalf of the Board of Directors and managementteam of Career Point I express gratitude to all the stakeholders for your overwhelmingtrust patronage and confidence. Let me conclude by wishing all of you good health andhappiness.

Best regards

Pramod Maheshwari

.