RATING

RECOMMENDATION

Neutral

  • Maharashtra Knowledge of Corporation
  • ₹545.00

  • PLACE ORDER
  • ROFR Required
  • Available in Depository:

  • NSDL

  • CDSL

  • Available for Investment:

  • Primary

  • Secondary

RATING

RECOMMENDATION

Neutral

Business Type

Traditional Business

RATING

RECOMMENDATION

Neutral

Business Type

Traditional Business

Discover and get a complete analysis on MKCL Pre IPO - MKCL Management, Business Model, Financials, Growth, Valuations, Funding Rounds, and News and get latest updates on MKCL Financial Statements.

ISIN

INE03KR01016

Face Value

₹10.00

Total Share

80,80,195

Total Income

₹102.16 Cr

Profit After Tax

₹19.15 Cr

EPS

₹23.70

P/E

23.00

P/B

1.05

Market Capitalisation

₹440.37 Cr

Enterprise Value

₹357.35 Cr

Book Value

₹518.66

Intrinsic Value

₹383.00

Dividend Yield

0.18 %

Earnings Yield

4.35 %

Sector

Consumer Discretionary

Sub-sector

Education Services

Category

Delisted

Cashflow - Operations

-₹14.92 Cr

Cashflow - Financing

-₹2.16 Cr

MKCL Growth

Compounded Sales Growth

  • -56.70%

    1 Year

  • -23.51%

    3 Year

  • -12.82%

    4 Year

Pro Only

Compounded Profit Growth

  • -46.79%

    1 Year

  • -26.56%

    3 Year

  • -15.30%

    4 Year

Pro Only

Return On Equity

  • 4.57%

    2021

  • 13.45%

    2019

  • 14.51%

    2018

Pro Only

About MKCL

  • Maharashtra Knowledge Corporation Limited,(MKCL), provides educational services based on universalization and integration of information technology in education. The company delivers classroom-based learning, print media based CD-based self learning and Wed-based collaborative e-learning. 
  • The company's products and services include infrastructure development, e-content development, educational and general e-governance, e-learning technologies development, learning management system and online evaluation system.
  • MKCL is an organization promoted by Department of Higher and Technical Education (H&TE), Government of Maharashtra (GoM), India and was incorporated under the Companies Act, 1956. MKCL has its headquarter in Pune ,Maharashtra. 
  • MKCL's channel partner network comprises of its Authorized Learning Centers (ALCs). These ALCs have been established by small and medium IT entrepreneurs and educational enterprises spread over all areas of the state of Maharashtra (Western India) including metropolitan, urban, semi-urban, rural, tribal and hilly regions. 
  • MKCL commenced its business operations in April 2002 over the entire state of Maharashtra (the most industrialized state in India admeasuring about 3,00,000 sq. km. and having the population exceeding 10 Cr.) 
  • The GoM, ten Universities in the state, Educational Institutions, Community Institutions, IT and non-IT industries etc. are among the initial major equity holders 


  • MKCL IPO Details

As of now there is no news of upcoming IPO.

  • MKCL Subsidiaries

Subsidiary:

  • MKCL Knowledge Foundation

Joint Venture:

  • Odisha Knowledge Corporation Limited
  • Haryana Knowledge Corporation Limited
  • MKCL Arabia Limited

MKCL Business Model

MKCL is dedicated to the business of providing learning and development programs to universities and corporations. The company organizes its functions under various autonomous programs and allocating resources to them. These programs specialize in certain domains of expertise vis-à-vis customer requirements. The company has operations in Maharashtra, Odhisa, Haryana and Saudi Arabia through its subsidiaries and join ventures

  • MKCL Revenue Segmentation

  • Educational courses, Skill Development courses
  • Sale of Services
  • MKCL Product & Services

Enabling Programs: 

  • Corporate Management Program (CMP) 
  • IT Infrastructure Development and Management Program (IT Infra-DMP) 
  • Customer Relationship Management Program (CRMP)
  • Learning Innovations Program (LIP) 
  • Educational Transformation Program (ETP) 
  • Artistic Creations Program (ACP) 
  • Network Partnerships Management Program (NP-MP) 


Business Development Programs: 

  • Knowledge Lit Skills Development Program (KLSDP) 
  • Knowledge Lit Careers Development Program (KLCDP) 
  • Mission-Mode Skill Development Program (MMSDP) 
  • Digital University Business Development Program (DU-BDP) 
  • eGovernance Business Development Program (eGov-BDP) 
  • International Business Development Program (I-BDP) 
  • Products in New Exponential Technologies Business Development Program (ProNExT) 
  • MKCL Assets

Assets of the company as on 31st, March 2021.

ParticularsAmount in crores
Freehold LandRs. 0.41
Office BuildingRs. 12.23


  • MKCL Industry Overview

Industry Statistics

  • The Indian Education Sector is regulated by the Ministry of Human Resource and Development, which was formed on 15 Aug 1947, headquartered in New Delhi.
  • India has one of the biggest higher education systems globally and enrolls over 70 million students. Also, over the past 20 years the country has created an additional capacity for over 40 million students. The Indian education market is worth INR 7300 Billion while the digital learning market is worth approximately INR 146 billion. In the period April 2020 – June 2020, the education sector in the country saw foreign direct investment inflow of INR 240 billion.
  • India holds an important place in the global education industry. India has one of the largest networks of higher education institutions in the world. However, there is still a lot of potential for further development in the education system.
  • Number of colleges in India reached 39,931 in FY19. Number of universities in India reached 967 in FY21 (until December 2020). India had approx. 4 Cr. students enrolled in higher education in FY19. Gross Enrolment Ratio in higher education reached 26.3% in FY19.
  • In 2020-21, there were 9,700 total AICTE approved institutes. Of the total, there were 4,100 undergraduate, 4,951 postgraduate and 4,514 diploma courses in AICTE approved institutes. According to the National Institutional Ranking Framework, 7 positions were bagged by prominent Indian Institutes of Technology out of the top 10 institution rankings in 2020.
  • The major drivers of the industry are increase in demand for industry relevant training courses and change in consumer demographics and increased penetration. The challenges includes: lack of awareness and limited user engagement, absence of formal recognition and accreditation, inadequate digital infrastructure, abundance of free content, lack of technology and skilled workforce.
  • The major players of the industry are: NIIT Ltd, Coursera Inc., Udemy India, Upgrad Education Ltd, Vedantu innovations, Edukart Education Private Ltd.
  • With 26.3% of India’s population in the age group of 0-14 years, India’s education sector provides numerous opportunities for growth. Indians average spending of households on Education for FY26 is estimated to be around INR 12,502 whereas in 1994 it was around INR 1,379.


                                                


Future Prospects

  • The e-learning market in India is expected to reach INR 312.13 Billion by 2026, expanding at a CAGR of 17.60% during the 2021-2026 period.
  • The primary and secondary supplemental education segment is expected to reach INR 93.23 Billion by 2026, expanding at a CAGR of 11.36% during the 2021-2026 period.
  • The higher education market is expected to reach INR 20.94 Billion by 2026, expanding at a CAGR of 10.08% during the 2021-2026 period.
  • It is expected that e-learning will continue to grow rapidly at a rapid pace, and students, teachers and parents will need to quickly onboard themselves to the requirements of this ecosystem. The sector will see implementations of advanced tools such as augmented reality and virtual reality to help create the feeling of a physical classroom.

Government Initiatives

  • In April 2021, India along with Bangladesh, Brazil, China, Egypt, Indonesia, Mexico, Nigeria and Pakistan joined the United Nation’s E9 initiative. 
  • According to Union Budget 2021-22, the government allocated INR 54,873 Cr. for Department of School Education and Literacy, compared with INR 59,845 Cr. in Union Budget 2020-21.
  • Under the Union Budget 2021-22, the government has placed major emphasis on strengthening the country’s digital infrastructure for education by setting up the National Digital Educational Architecture (NDEAR).

MKCL Strengths

  • MKCL is designing smart applications of Information Technology for universalization of digital literacy, as well as for transforming education, governance and empowerment processes in particular and socio-economic transformative processes in general. As a result, MKCL can become an organization capable of integrating Information Technology for effective transformations which in turn will lead to a greater publicity for the company and bring in more number of students for the company.
  • Since Govt. of Maharashtra holds a majority stake in the company, it can build a trust among the students about the reliability of the courses and the recognition of the courses in various fields once the student completes the program. 
  • The company continues to remain debt-free and maintain sufficient cash to meet its strategic objectives. There are no long-term borrowings and its assets base is steadily growing over the years. 

MKCL Shortcomings

  • Despite of having increasing assets, the company has a low ROA which shows that the company is not utilizing its assets properly.
  • The company performed poorly compared to its peers in terms of revenue generated over the years signaling that the company has lesser market share.

MKCL Opportunities

  • India has the world’s largest population of about 50 Cr. in the age bracket of 5-24 years, which provides a great opportunity for the education sector
  • The country has become the second largest market for E-learning after the US. The sector is expected to reach INR 14,308 Cr. by 2021 with around 1 Cr. users. In India, the online education market is forecasted to reach INR 84,680 Cr. by 2026.
  • As the pandemic continues, online education and training has become a large opportunity point in the country, the scenario provides company with an opportunity develop products specific to serve people in this scenario.

MKCL Threats

  • The company faces a huge external threat from the continuation of pandemic. The pandemic has affected companies’ enrollment rates and its revenue has fallen in the month when the lockdown was applied.
  • The company faces a stiff competition from companies like Adtech and NIIT.

MKCL Rating

  • RECOMMENDATION

    Neutral

  • MKCL Detail Info

Industry Statistics

PUBLIC LIMITED

Registered In

India

last Updated

03/03/2022

Registered Date

20/08/2001

Planify Ticker

MKCL

Reg Office: ICC Trade Towers, ‘A’ Wing, 5th Floor, Senapati Bapat Road, Shivajinagar Pune 411016, Maharashtra, India

Visit Website

Frequently Ask Questions

The company has not filed any DRHP for the IPO as of now.

The face value of the company is Rs.10

Yes, we can expect good profit in the future.

Government Of Maharashtra and University of Mumbai are the major shareholders

Government Of Maharashtra owns the company

The company continues to remain debt-free and maintain sufficient cash to meet its strategic objectives. There are no long-term borrowings and its assets base is steadily growing over the years. 

we recommend neutral rating on this stock

the total profit for the company is 19.15 Cr

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This new SEBI rule was introduced in the month of August-2021, wherein the SEBI has reduced the lock-in period previously from 1 year to 6 months to encourage more and more funds to be invested in startups which are going to public or IPO in near future. Reduction of lock-in is seen as big step and after that many PMS funds are advising their clients to invest in Pre-IPO shares to get the benefit of early stage investment.

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