Navneet Education Ltd

Navneet Education Ltd

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 company's 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 company's subsidiary launched three e-learning modules 'Braininac' 'Answer Machine' and 'Top Scorer' on subscription basis. During the year 2001-2003 the company's paper stationary division steped up its distribution network and the company penetrated in 23 states across India. The company's Book publication division geographically expanded in the states of Madhya Pradesh and CBSE for educational book's segment. Navneet Edutainment Limited the company's 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 company's paper stationary division produced varied varieties of the paper stationary products for student's community and for the use by offices. During the year 2006-2007 the company's 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 Company's subsidiary eSense Learning Private Limited has been performing well and its B2B product (TOP CLASS) was installed in 2047 institutions covering more than 11400 classrooms during FY 2013-14.During the year under review the Company bought back 4657000 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 582125000/- on a proportionate basis through the tender offer as prescribed under SEBI Buyback Regulations. The buyback of 4657000 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 233558000 of Rs. 2/- each and accordingly the paid up Equity Share Capital also stands reduced to Rs. 467116000/-.