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Humming Bird Education Ltd.

BSE: 542592 Sector: Others
NSE: N.A. ISIN Code: INE02PC01019
BSE 00:00 | 25 Nov 86.35 0
(0.00%)
OPEN

86.35

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86.35

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86.35

NSE 05:30 | 01 Jan Humming Bird Education Ltd
OPEN 86.35
PREVIOUS CLOSE 86.35
VOLUME 3000
52-Week high 141.30
52-Week low 68.55
P/E
Mkt Cap.(Rs cr) 5
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 86.35
CLOSE 86.35
VOLUME 3000
52-Week high 141.30
52-Week low 68.55
P/E
Mkt Cap.(Rs cr) 5
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Humming Bird Education Ltd. (HUMMINGBIRDEDU) - Director Report

Company director report

Dear Shareholders

Your Directors have pleasure in presenting the 10th Annual Report on the business andoperations of the Company together with the Audited Financial Statement for the financialyear ended on 31st March 2020.

FINANCIAL SUMMARY

Your Company's Standalone and Consolidated performance during the Financial Year2019-20 as compared with that of the previous Financial Year 2018-19 is summarized below:-

Standalone Consolidated
Particulars 2019-20 2018-19 2019-20 2018-19
Revenue from operations (Net) 23691968 18909978 23908716
Other Income 1575365 50 1575365
Total Income 25267333 18910028 25484081
Earnings Before Tax 3225335 4399891 3170347
Less: Current Tax 1081269 331650 1081578
Less: Deferred Tax (155127) 791496 (155127) NA
Less: Income Tax of Previous Years - - -
Less: Interest on Income Tax/ TDS/ TCS/ Sales Tax - - -
Earnings After Tax 2299193 3276745 2243465
Earnings Per Share (Basic) 3.75 9.56 3.66
Earnings Per Share (Diluted) 3.75 9.56 3.66

REVIEW OF OPERATIONS / STATE OF AFFAIRS OF THE COMPANY ITS SUBSIDIARIES & JOINTVENTURES & OTHER ASSOCIATES:

During the year under review the Company has earned a total revenue of Rs.25267333/- through against Rs. 18910028/- in the previous year registering a growthof 33% Approx. Your Company's current year net profit Rs. 2299193/- from Rs. 3276745/-in the previous year.

Review of Operations / State of Affairs of Subsidiaries Joint Ventures & OtherAssociates:

Pursuant to the provisions of Section 129(3) of the Companies Act 2013 read with Rule5 of the Companies (Accounts) Rules 2014 a statement containing the salient features ofthe Financial Statements of your Company's Subsidiaries Associates and Joint Ventures inthe Form AOC-1 is annexed and forms part of the Financial Statement. The Statementprovides the details of performance and financial position of each of the SubsidiariesAssociates and Joint Ventures. In accordance with Section 136 of the Companies Act 2013the Audited Financial Statements including the Consolidated Financial Statements auditedaccounts of all the subsidiaries and other documents attached thereto are available onyour Company's website: www.hummingbirdeducation.com.

Your Directors present herewith a broad overview of the operations and financials ofSubsidiaries Joint Venture and other Associates of your Company:

Review of Operations / State of Affairs of the Subsidiaries and other Associates of theCompany:

Sibil Education Private Limited:

Sibil Education Private Limited ("Sibil") is wholly owned subsidiary of yourCompany incorporated in financial year 2019-20 itself. During the financial year 2019-20Sibil recorded loss after tax Rs. 56176.

Onmouseclick.com Private Limited:

Onmouseclick.com Private Limited ("Onmouse") is subsidiary of your Companyincorporated in financial year 2019-20 itself. During the financial year 2019-20 Onmouserecorded profit after tax Rs. 879.

CAPITAL STRUCTURE

At present the Company has only one class of share - Equity shares of face value ofRs. 10 each. The authorized share capital of the company is Rs. 7500000/- divided into750000 equity shares of Rs. 10 each. The paid up share capital of the company is Rs.6130000/- divided into 613000 equity shares of Rs. 10 each. The Company had raised fundthrough Public Issue of shares in F/Y 2018-19 and the Equity shares of the Company are nowlisted on SME platform of BSE Limited.

DIVIDEND

The Board in its meeting held on 01st September 2020 recommended a final dividend ofRs. 2.50 per equity shares for the financial year ended March 31 2020. The proposal issubject to the approval of shareholders at the forthcoming Annual General Meeting to beheld on September 30 2020. The Register of Members and Share Transfer Books will remainclosed on September 23 2020 for the purpose of payment of the final dividend for thefinancial year ended March 31 2020.

PUBLIC DEPOSITS

Your Company has neither invited nor accepted any deposits from public within themeaning of Section 73 of the Companies Act 2013 read with Companies (Acceptance ofDeposits) Rules 2014 during the financial year ended 31st March 2020.

TRANSFER TO RESERVES

During the year under review your Company has not transferred any amount to GeneralReserve.

EXTRACT OF ANNUAL RETURN

As required pursuant to section 92(3) of the Companies Act 2013 and Rule 12(1) of theCompanies (Management and Administration) Rules 2014 an extract of the Annual Return willbe placed on the website of the Company www.hummingbirdeducation.com.

DETAILS OF SUBSIDIARY/ JOINT VENTURES/ ASSOCIATE COMPANIES

Your Company had the following subsidiaries [as defined under Section 2(87) of theCompanies Act 2013] during the Financial Year 2019-20:

Sibil Education Private Limited:

(A Wholly-Owned Subsidiary of your Company throughout the Financial Year 2019-20 andIncorporated in Financial Year 2019-20 itself)

Onmouseclick.com Private Limited:

(A Subsidiary of your Company throughout the Financial Year 2019-20 and Incorporated inFinancial Year 2019-20 itself)

CHANGE IN THE NATURE OF BUSINESS

During the Financial Year 2019-20 there is no change in the nature of business of thecompany.

DETAIL OF DIRECTORS OR KMP APPOINTED/ RESIGNED DURING THE YEAR During the year underreview following directors and KMPs were appointed:

Name of Director/KMPs Designation Date of Appointment
Mr. Piyush Khatri Chief Executive Officer 29.04.2019
Mr. Vipul Khandelwal Additional Director 29.08.2019
Ms. Teena Jain Additional Director 29.08.2019
Ms. Sonam Mangla Additional Director 29.08.2019
Mr. Amitabh Raja Additional Director 29.08.2019
Mr. Vipul Khandelwal Independent Directors 30.09.2019
Ms. Teena Jain Independent Director 30.09.2019
Ms. Sonam Mangla Independent Director 30.09.2019
Mr. Amitabh Raja Independent Director 30.09.20169

During the year under review following directors and KMPs were resigned:

Name of Director/KMPs Designation Date of Appointment
Mr. Dhruv Malhotra Independent Director 14.05.2019
Mr. Rishi Khanna Independent Director 19.06.2019
Ms. Priyanka Bhardwaj Independent Director 19.06.2019

DECLARATION GIVEN BY INDEPENDENT DIRECTOR

All the Independent Directors Mr. Arihant Jain Mr. Vipul Khandelwal Mr. RajaAmitabh Ms. Sonam Mangla and Ms. Teena Jain have given their declarations that they meetthe criteria of Independence as laid down under Section 149(6) of the Companies Act 2013.

POLICY ON DIRECTOR'S APPOINTMENT AND POLICY ON REMUNERATION

In adherence to section 178(1) of the Companies Act 2013 the Board of Directors ofthe Company regularly review the policy on Director's Appointment and Remunerationincluding criteria for determining qualifications positive attributes independence of adirector and other matters provided under section 178(3) based on the recommendations ofthe Nomination and Remuneration Committee.

COMMITTEES OF THE BOARD

There are currently three Committees of the Board as follows:

1. Audit Committee

2. Nomination and Remuneration Committee 3.Stakeholders' Relationship Committee

Details of Composition of all the Committees are as follows:

Audit Committee

Our Audit Committee was constituted to have proper checks and balances on the variousfinancial activities of the Company and to guide as well as assist the Board in variousmatters of the utmost importance. The Committee has its Charter for functioning. Theprimary objective of the Committee is to monitor and provide effective supervision of theManagement's financial reporting process to ensure accurate and timely disclosures withthe highest levels of transparency integrity and quality of financial reporting.

As on the date of this report the Committee is comprised of:

S. No. Name Designation
1. Mr. Vipul Khandelwal Chairperson
2. Mr. Arihant Jain Member
3. Mr. Nitesh Jain Member

Nomination and Remuneration Committee

The primary objective of the Committee is to recommend suggestions to the Board ofDirectors pertaining to the Remuneration Policy for Directors KMP and all other employeesof the Company.

As on the date of this report the Committee is comprised of:

S. No. Name Designation
1. Mr. Arihant Jain Chairperson
2. Ms. Sonam Mangla Member
3. Mr. Savishesh Raj Member

Stakeholders Relationship Committee

Our Stakeholder Relationship Committee has its Charter for its functioning. TheCommittee members personally looking forward the issues if any related to thestakeholders. The primary objective of the Committee is to consider and resolve thegrievances of Security Holders of the Company.

As on the date of this report the Committee is comprised of:

S. No. Name Designation
1. Mr. Arihant Jain Chairperson
2. Mr. Raja Amitabh Member
3. Mr. Savishesh Raj Member

.