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Everonn Education Limited
Sector:IT IT - Education and Training
BSE:32876NSE:EVERONNBloomberg:EEDU@INReuters:EVED.BO
Market Lot: 1Face Value: 10ISIN Demat: INE678H01010
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27-May-2014
Business Profile
Everonn Systems India, was established in 2000. It is an integrated knowledge management, education and training service provider with presence in 8 states. It has has set-up over 1,300 computer labs. that are operational and trained 1.2 million students in India. In addition, it provided virtual and technology enabled learning solutions to 101 colleges and 83 schools for specialized content through interactive remote delivery mechanism.

The Everonn Studio is designed with State-of-the-art brodcasting equipments which comprise of studio cameras, video mixers, editing equipments and interactive software systems creating a virtual lecture room. Everonn is well equipped to allow the transfer of data, voice and video via satellite, to a number of remote learning centres.

ESIL has partnered with companies like Microsoft, Sikkim Manipal University, Tally Solutions etc. in several educational and training projects.

Financials
The company announced fall of 176.74% in standalone net profit on y-o-y basis to Rs 531.31 million, while total income fell 26.34% y-o-y basis to Rs 102.38 million for the quarter ended March 2014.

Recent Developments
21-AUG-13
Everonn Education announced that its board of directors has approved the debt restructuring plan through a scheme of arrangement with the creditors

23-AUG-12
Everonn Education, one of the leading educational companies in India today announced that it has signed a Term Sheet with Centum Learning for the acquisition of Centum. Subsequent to necessary regulatory approvals Centum will merge with Everonn.

17-JAN-12
Everonn Education has clarified on report published by financial daily titled ``National Skills Development Corporation of India (NSDC) has decided not to pick up the 27% stake in the company`s 100% subsidiary Everonn Skill Development ``.

20-SEP-11
The board of directors of Everonn Education, whose Managing Director was arrested recently in a tax evasion case, has approved signing of a MoU with Varkey Group and SKIL Infrastructure (Confirming Party) for allotment of additional equity shares.

02-SEP-11
Everonn Education has announced that the board of directors met on September 01, 2011, to review the extra-ordinary situation arising out of the Managing Director P. Kishore having been taken into judicial custody.

10-AUG-11
Everonn Education has posted consolidated net profit of Rs 110.31 million for the quarter ended June 30, 2011 as compared to Rs 72.61 million for the quarter ended June 30, 2010, representing rise of 51.92%

23-MAY-11
Everonn Education has recorded 49% y-o-y growth in its FY11 consolidated net profit at Rs 680 million as compared with the previous year`s performance.

19-APR-11
In a major initiative towards vocational training. Everonn, the largest VSAT education network in the world has joined hands with the National skill development corporation???s (NSDC) mission with the launch of International skill school to train people from across nine key sectors to make them employable.



Future Plans
The company plans to raise Rs 2.08 bn via convertible debentures. The board of directors of Everonn Education at its meeting held on July 19, 2010, approved preferential allotment of 4 million optionally convertible debentures aggregating, approximately Rs 2,084 million, to be converted upto 4 million equity shares of Rs 10 each, to SKIL Infrastructure, subject to requisite shareholder / regulatory and other approvals.


In Brief

 
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