TRANSFORMING WITH TIMES

36TH

ANNUAL REPORT

2021-22

INSIDE THE REPORT

02-60

CORPORATE OVERVIEW

Our Approach to Reporting

02

Letter to Shareholders

04

Business Overview

08

Our Global Presence

10

Presence in India

11

Our Strengths

12

Evolution

13

Product Portfolio

14

Value Creation Model

16

Financial Capital

18

Manufactured Capital

24

Intellectual Capital

28

Human Capital

36

Natural Capital

40

Social & Relationship Capital

44

Strategic Expansion Plan

48

Governance

50

Value Focused Engagement with Stakeholders

54

Awards and Accolades

56

Five years at a Glance

58

Key Financial Ratios

59

Corporate Information

60

Please find our online version at: https://

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61-139

STATUTORY REPORTS

Management Discussion and Analysis

61

Notice

76

Directors' Report

89

Corporate Governance Report

109

140-343

FINANCIAL STATEMENTS

Standalone

Independent Auditor's Report

141

Balance Sheet

152

Statement of Profit & Loss

153

Statement of Cash Flows

154

Statement of Changes in Equity

156

Significant Accounting Policies

157

Notes on Financial Statements

174

Consolidated

Independent Auditor's Report

240

Balance Sheet

248

Statement of Profit & Loss

249

Statement of Cash Flows

250

Statement of Changes in Equity

252

Significant Accounting Policies

253

Notes on Financial Statements

275

INVESTOR INFORMATION

Market Capitalisation as

: ` 2,022 crores

on March 31, 2022

CIN

: L22200MH1984PLC034055

BSE Code

: 508989

NSE Symbol

: NAVNETEDUL

Dividend Recommended

: ` 1.50 per share

AGM date

: August 8, 2022

AGM Mode/Venue

: Video Conference/Other

Audio Visual Means

Disclaimer

This document contains statements about expected future events and financials of Navneet Education Limited, which are forward-looking. By their nature, forward-looking statements require the Company to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that the assumptions, predictions and other forward-looking statements may notprove to be accurate. Readers are cautioned not to place undue reliance on forward- looking statements as a number of factors could cause assumptions, actual future results and events to differ materially from those expressed in the forward- looking statements. Accordingly, this document is subject to the disclaimer and qualified in its entirety by the assumptions, qualifications and risk factors referred to in the Management Discussion and Analysis of this Annual Report.

The highest education is that which does not merely give us information but makes our life in harmony with all existence.

Rabindranath Tagore

In a world full of unprecedented scenarios, the only constant is the fast-paced evolution that we must keep up with.

From a time when parents decided whether to send kids to school, to the modern-day world engrossed in distance education, the space of learning has changed at a tremendous pace. With this, technology has brought about a shift in the way we consume and process information. Digitalisation is now an inseparable part of education, calling for a more holistic approach to learning.

At Navneet Education Limited (NEL), we identify these changing trends while proactively adapting ourselves through progressive measures. With over 60 credible years in this field as an educational publisher and stationery manufacturer, we are now expanding into the EdTech space and bracing up for the times to come.

We feel that education is as much about learning as it is about adapting. Our futuristic outlook and growth endeavours are underpinned by our capabilities, efficiencies and a strong balance sheet. Our offerings ensure an all-encompassing experience. Going ahead, with some strategic investments planned alongside our existing ones, we are tapping better opportunities while adjusting ourselves to the changes around us, and unlocking the next level of growth for NEL.

Backed by our proficiency, responsiveness and preparedness, we are embracing changes and 'Transforming with Times'.

OUR APPROACH TO REPORTING

2

Annual Report 2021-22

Navneet Education Limited

CORPORATE OVERVIEW

BASIS OF REPORTING

This Report is prepared basis of the essential guidelines of the framework defined by the International Integrated Reporting Council (IIRC). It provides comprehensive information on our operational and financial performances, elaborating how these influence our strategic direction, resulting in our ability to create sustainable value.

OUR APPROACH TO REPORTING

Through this Report, we aspire to provide our stakeholders with an overall depiction of the organisation's value creation ability using both financial and non-financial resources. Besides, the Report provides insights into our key strategies, operating environment, material issues emanating from our stakeholder engagements and their respective mitigation strategies, operating risks and opportunities, governance structure and our approach toward long-term sustainability.

REPORTING SCOPE AND BOUNDARY

The reporting period for this Integrated Report is April 1, 2021 to March 31, 2022. It provides an overview of our operations and business development activities. The Report further covers information on our business segments in India and abroad and associated activities that enable short-,medium-, and long- term value creation. It also covers our Subsidiaries Navneet Futuretech Ltd. (formerly known as eSense Learning Private Limited), Navneet (HK) Limited, Navneet Learning LLP, Navneet Tech Venture Pvt. Limited and Indiannica Learning Private Limited.

REPORTING STANDARDS AND FRAMEWORK

In this Report, we have attempted to bring in more transparency and accountability through additional disclosures and information, following the guiding principles of the International Integrated Reporting Council (IIRC). The other statutory reports, including the Directors' Report, Management Discussion and Analysis (MD&A) section, the Corporate Governance Report and the Business Responsibility and Sustainability Report (BRSR), are in line with the Companies Act, 2013 (and the rules made thereunder), Securities Exchange Board of India (SEBI) (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the prescribed Secretarial Standards.

MANAGEMENT ASSURANCE

The Board of Directors believes that this Report presents the true and fair account of the Company's financial and non-financial matters, performance and business model. The Board acknowledges the Company's responsibilities to ensure the integrity of this Report.

Annual Report 2021-22

3

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Navneet Education Ltd. published this content on 16 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 July 2022 10:53:05 UTC.