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Tag: Zee Learn

  • Zee Learn appoints Anish Shah as chief financial officer

    Zee Learn appoints Anish Shah as chief financial officer

    Mumbai: Zee Learn on Tuesday announced the appointment of Anish Shah as chief financial officer (CFO).

    Shah is a chartered accountant with more than two decades of experience. He has experience across various industries like fin-tech, telecommunications, airlines and manufacturing. His functional experience includes various areas of finance like finalisation of Accounts, IND-AS, business finance, MIS, FP&A, budgeting, accounts payable, cash flow management, SAP automation, cost optimisation, financial modeling etc.

    Shah’s last work experience was with IL&FS Securities as its chief financial officer. Before that, he was with Jet Airways as head of financial controls. At Jet Airways. Shah was responsible for FP&A, business finance and cost optimisation.

    Prior to joining Jet Airways, he was with Reliance Jio as general manager (finance, compliance and accounts). There he was responsible for project and operations budgeting, preparing business plans, business commercials, SAP implementation, and automation.

  • Zee Learn clocks marginal profit in Q2 2020

    Zee Learn clocks marginal profit in Q2 2020

    NEW DELHI: Zee Learn, a leading player in the education segment, has posted revenue of Rs 89.67 crore and profit of Rs 2.24 crore in Q2 2020. The EBIDTA stood at Rs 19.93 crore (26 per cent of the operating income) during this time.

    Both revenue and profit (after tax) for the company has witnessed a decline year-on-year basis. During the same time, in 2019, the revenue stood at Rs 148.41 crore and profit (after tax) stood at Rs 24.40 crore.

    The two also saw a decline from Q1 2020 where the revenue stood at Rs 92.64 crore and profit (after tax) stood at Rs 3.36 crore.

    However, the profit before tax grew by 37 per cent in Q2 2020 on a quarter-on-quarter basis on the back of its optimisation measures.

    Zee Learn whole time executive director and CEO Vikash Kumar Kar said, "In spite of the educational institutions still being under lockdown coupled with the uncertainty of re-opening, the company has successfully been surmounting various challenges to continue delivering an excellent learning experience. Various business continuity measures helped us to manage the operating expenses and operations in a reasonable manner. We continue to stay fully committed to staying ahead of the curve and fulfilling the learning needs of our students and engaging with our partners to provide constant support to navigate through this period.”

    Zee Learn CFO Rakesh Agarwal added, "Even though there are various ongoing challenges, the company has managed to deliver profits by undertaking various optimization measures. We hope that the authorities will come up with various measures to handhold and stabilize the education sector which is very important for the well-being of our nation and for the future of the children."

    The company has won several laurels during this year such as ‘Great Place to Work’, ‘Dream Companies to work for in Education Sector 2020’, ‘Premier Franchise to Watch for in 2019’, ‘Outstanding contribution to quality education in India’, and others.

  • Ajey Kumar steps down as MD of Zee Learn; Vikash Kumar Kar appointed as additional director

    Ajey Kumar steps down as MD of Zee Learn; Vikash Kumar Kar appointed as additional director

    NEW DELHI: Essel group firm Zee Learn on Wednesday notified in a regulatory filing that it’s managing director Ajey Kumar has stepped down. The company accepted Kumar’s resignation in a board meeting which took place on Tuesday, as per the filing.

    In a separate filing, Zee Learn announced that CEO Vikash Kumar Kar will be taking over as an Additional director of the company.

    “The Board approved the appointment of Vikash Kumar Kar as an Additional Director of the Company in the category Executive Director designated as Whole Time Director w.e.f. 19th August, 2020 which shall be subject to approval of shareholders at the ensuing Annual General Meeting,” read the statement. Kar will continue being the Chief Executive Officer of the company.

    Kar is a senior human resources and business professional with 19 years of professional experience in conceptualizing and integrating best in class practices to facilitate building a sustainable high-performance organization. 

  • No deal yet with MT Educare: Zee Learn

    No deal yet with MT Educare: Zee Learn

    MUMBAI: After reports of Zee Learn’s acquisition of MT Educare, the Bombay Stock Exchange (BSE) sought a clarification from Zee regarding the purchase. The company replied stating that as part of its continuing business strategy, it constantly sought potential opportunities in various capacities to expand its business. “The company currently has not finalised any deal with MT Educare Limited,” said its response to the BSE.

    According to media reports, Zee Learn is looking to buy a controlling stake in MT Educare that runs Mahesh Tutorials, a popular coaching-class network in Mumbai. The company initially plans to buy the entire promoter share of 42.78 per cent and later make an open offer for another 20 per cent stake. Institutions and public shareholders own the remaining 57.22 per cent.

    MT Educare, which went public in 2012, is a leading education services company that prepares students for competitive examinations. It had a market capitalisation of Rs 324 crore by end of trade on Friday.

    At 15:30 hours, MT Educare was trading at Rs 81.10 per share, down by 0.49 per cent, while Zee Learn was trading at Rs 43.95 per share, up by 0.80 per cent. Just last month, Visa Capital bought a 0.60 per cent stake for Rs 68.05 a piece.

    Ninety three per cent of MT’s revenue comes from its coaching classes and the rest from Robomate+ app, which provides recorded video lectures.

    Zee Learn has a pre-school network of 1700 Kidzees in Asia as well as 115 Mount Litera Zee Schools at the end of financial year 2016-17. It also runs film and TV and animation courses.

    In its communiqué to the BSE, MT Educare said that the company was not carrying out any discussion or negotiations and “hence we have not given any intimation to the stock exchanges.”

  • Zee Learn CS & compliance exec resigns

    MUMBAI: Zee Learn Limited has intimated the stock exchanges that its company secretary and compliance officer has resigned.

    “This is to inform  you  that Zee Learn CS and compliance executive Hemangi Patil has resigned with effect from 9 June 2017,” Zee Learn chief financial officer Umesh Pradhan stated.

    Till a replacement of the company secretary and compliance officer is appointed, the chief financial officer of the company will be doing the necessary filings with various authorities and stock exchanges, the intimation note stated.

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  • Zee Learn-Tree House proposed merger off

    Zee Learn-Tree House proposed merger off

    MUMBAI: Zee Learn Ltd has informed the BSE that the Board of Directors meeting of the Company held on 16 December, 2016, the Board took cognizance of the recent adverse media reports of Tree House closing down hundreds of its playgroup centres abruptly leaving parents / students high and dry and of many parents filing police complaints against Tree House and its Promoters.

    The Board feels that this may change the complete business dynamics of Tree House and is not in the spirit of the Scheme of Amalgamation signed between ZLL and Tree House.

    This fact coupled with the steadily deteriorating financials of Tree House, allegations of irregularities by Tree House / its Promoters and the need to protect the interest of ZLL shareholders, led to the Board of ZLL to unanimously agree to withdraw from the merger process with Tree House.

    ZLL Board announced that in light of the recent inordinate developments at Tree House, it is withdrawing from the proposed Merger process with Tree House which has been awaiting various court,shareholder and related statutory approvals.

    The Board approved sending requisite communication to Tree House to this effect and also convey to them that ZLL reserves its rights to initiate further suitable action against Tree House, its Promoters for ZLL’s loss of reputation, goodwill and damages.

    ZLL, a company promoted by Essel group, which runs Asia’s largest play school chain (Kidzee) with 1600 plus centres, had agreed sometime back to participate in this Merger process with Tree House with great hopes of serving an even larger network of students. Recently, inspite of the reported worsening financial situation at Tree House, ZLL had agreed to keep the merger alive at renegotiated terms. However, the current media reports of Tree House, its Promoters closing down a huge number of centres mid-session without even a thought for the helpless students, parents has left everyone at ZLL aghast as this sort of an action is completely against the moral and professional values of ZLL.

    ZLL CEO Debshankar Mukhopadhyay said, “ZLL has already requested its Kidzee Franchisees to try and provide proper mid-term admissions to such ex Tree House students who are stuck and wish to seek help because of Tree House I its Promoters actions. I am sure that our Franchisees will help to whatever extent possible. We hope that other play school chains will also come forward to help the students in this time of their need.”

  • Zee Learn-Tree House proposed merger off

    Zee Learn-Tree House proposed merger off

    MUMBAI: Zee Learn Ltd has informed the BSE that the Board of Directors meeting of the Company held on 16 December, 2016, the Board took cognizance of the recent adverse media reports of Tree House closing down hundreds of its playgroup centres abruptly leaving parents / students high and dry and of many parents filing police complaints against Tree House and its Promoters.

    The Board feels that this may change the complete business dynamics of Tree House and is not in the spirit of the Scheme of Amalgamation signed between ZLL and Tree House.

    This fact coupled with the steadily deteriorating financials of Tree House, allegations of irregularities by Tree House / its Promoters and the need to protect the interest of ZLL shareholders, led to the Board of ZLL to unanimously agree to withdraw from the merger process with Tree House.

    ZLL Board announced that in light of the recent inordinate developments at Tree House, it is withdrawing from the proposed Merger process with Tree House which has been awaiting various court,shareholder and related statutory approvals.

    The Board approved sending requisite communication to Tree House to this effect and also convey to them that ZLL reserves its rights to initiate further suitable action against Tree House, its Promoters for ZLL’s loss of reputation, goodwill and damages.

    ZLL, a company promoted by Essel group, which runs Asia’s largest play school chain (Kidzee) with 1600 plus centres, had agreed sometime back to participate in this Merger process with Tree House with great hopes of serving an even larger network of students. Recently, inspite of the reported worsening financial situation at Tree House, ZLL had agreed to keep the merger alive at renegotiated terms. However, the current media reports of Tree House, its Promoters closing down a huge number of centres mid-session without even a thought for the helpless students, parents has left everyone at ZLL aghast as this sort of an action is completely against the moral and professional values of ZLL.

    ZLL CEO Debshankar Mukhopadhyay said, “ZLL has already requested its Kidzee Franchisees to try and provide proper mid-term admissions to such ex Tree House students who are stuck and wish to seek help because of Tree House I its Promoters actions. I am sure that our Franchisees will help to whatever extent possible. We hope that other play school chains will also come forward to help the students in this time of their need.”

  • Zee Learn-THEAL merger share swap ratio revised, approved

    Zee Learn-THEAL merger share swap ratio revised, approved

    MUMBAI: A revised scheme of amalgamation of Zee Learn Limited (ZLL) with Tree House Education & Accessories (THEAL) has been approved by the Boards of Directors of both the companies.

    The revised share swap ratio of 1:1 for the merger of THEAL with ZLL was agreed upon by shareholders at a meeting on 16 August 2016. Earlier, the plan was to issue 5:3 shares of Zee Learn for each share of Tree House.

    Both ZLL and THEAL are primarily engaged into business of pre-school activities.

    The Board of Directors of ZLL at its meeting held on 23 December 2015 had approved a merger of THEAL with ZLL subject to requisite statutory and regulatory approvals.

    As a part of evaluation of financial results of THEAL for the quarter ended 31 March , 2016 and for the financial year ended 31 March, 2016, ZLL decided to keep on hold the plan and the matter was referred to the Merger Evaluation Committee (MEC).

    “MEC was authorised to look into and suggest the way forward to re-work the deal of merger to ensure consolidation of business in the best interest of the shareholders,” said ZLL in an official statement to the Bombay Stock Exchange.

    The statement went on to add that the Board unanimously approved a revised scheme (including appointed date and share exchange ratio) for the merger of THEAL with ZLL. The scheme will be implemented subject to approval of shareholders and creditors of the company and applicable regulatory authorities.

    In another statement, THEAL informed its shareholders, “Your company is trying to overcome the challenges faced in recent quarters by bringing in several cost control measure along with closing down of its non profitable centres. We believe that your company will be benefited with the merger, as the synergies arising out of amalgamation will play an important role in strengthening the company’s business and improving its operational efficiency and future outlook.”

  • Zee Learn-THEAL merger share swap ratio revised, approved

    Zee Learn-THEAL merger share swap ratio revised, approved

    MUMBAI: A revised scheme of amalgamation of Zee Learn Limited (ZLL) with Tree House Education & Accessories (THEAL) has been approved by the Boards of Directors of both the companies.

    The revised share swap ratio of 1:1 for the merger of THEAL with ZLL was agreed upon by shareholders at a meeting on 16 August 2016. Earlier, the plan was to issue 5:3 shares of Zee Learn for each share of Tree House.

    Both ZLL and THEAL are primarily engaged into business of pre-school activities.

    The Board of Directors of ZLL at its meeting held on 23 December 2015 had approved a merger of THEAL with ZLL subject to requisite statutory and regulatory approvals.

    As a part of evaluation of financial results of THEAL for the quarter ended 31 March , 2016 and for the financial year ended 31 March, 2016, ZLL decided to keep on hold the plan and the matter was referred to the Merger Evaluation Committee (MEC).

    “MEC was authorised to look into and suggest the way forward to re-work the deal of merger to ensure consolidation of business in the best interest of the shareholders,” said ZLL in an official statement to the Bombay Stock Exchange.

    The statement went on to add that the Board unanimously approved a revised scheme (including appointed date and share exchange ratio) for the merger of THEAL with ZLL. The scheme will be implemented subject to approval of shareholders and creditors of the company and applicable regulatory authorities.

    In another statement, THEAL informed its shareholders, “Your company is trying to overcome the challenges faced in recent quarters by bringing in several cost control measure along with closing down of its non profitable centres. We believe that your company will be benefited with the merger, as the synergies arising out of amalgamation will play an important role in strengthening the company’s business and improving its operational efficiency and future outlook.”

  • Zee Learn appoints new CEO Debshankar Mukhopadhyay

    Zee Learn appoints new CEO Debshankar Mukhopadhyay

    Zee Learn Limited, a leading player in core education and India’s Most Trusted Diversified Education Brand has announced the appointment of Debshankar Mukhopadhyay as the new Chief Executive Office (CEO).  Mukhopadhyay has taken charge of the company from July 2016.

    Debshankar comes with over 20 years of experience in educational and financial sector across South Asia. Network and channel development is his forte, along with effective leadership in business and operational management. Prior to this, he was the Head of Educational Sales – Financial Services & Insurance at Manipal Global Education Services. His previous stints have been with Max Life Insurance Co. Ltd, Western Union, Scholastic India, Zee Interactive Learning Systems Ltd and DHL Worldwide.

    Speaking about Debshankar’s appointment, Zee Learn Board commented, “We welcome Debshankar to Zee Learn. We are delighted to have him at the helm of Zee Learn and are confident that his vast experience will further accelerate the growth of the company and further us on our path of excellence and growth.  We look forward to the rich experience and knowledge that Debshankar brings along, which will add immense value to the organization and to the extremely talented team at Zee Learn.”

    “It gives me immense pleasure to be associated with Zee Learn, which is one of the largest players in the core education sector. I am looking forward to working with the team to further strengthen the award winning education brands of Zee Learn. With brands like Kidzee – the largest preschool chain in Asia, Mount Litera Zee School – one of the fastest growing K-12 school chains in India, ZICA – one of the premiere institutes in the creative arts and ZIMA – one of the leading media arts institutes, the future of Zee Learn looks extremely bright for the company. I look forward to working with the board and the team at Zee Learn and building on the strong credentials of the company and help accelerate growth at the company,” Debshankar commented on his new assignment.

    A Commerce Graduate from Kolkata University, Mr. Mukhopadhyay has done Post Graduate Diploma in Business Management, IISWBM, Kolkata. He has also completed various professional workshops like Management Development Program from Jamnalal Bajaj Institute of Management, Service Excellence Training at Western Union, Rome, Certificate course from Indian Institute of Management, Kolkata in Project Management, and Transformational Leadership Program at Indian School of Business, Hyderabad.