TRANSFORMING WITH TIMES
36TH
ANNUAL REPORT
2021-22
INSIDE THE REPORT
02-60
CORPORATE OVERVIEW
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 |
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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.