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COMPANY PROFILE

Full name :Navneet Publications India Ltd. Legal Address: Navneet Bhavan, Bhavani Shankar Road, Dadar (West); Mumbai; Maharashtra; 400028 Status: Listed Legal Form: Public Limited Company Operational Status: Operational ISIN CODE : INE060A01024 Financial Auditors: Ghalla & Bhansali (2011) Incorporation Date: September 18, 1984 Tel: 022-66626565

Registered Office
Navneet Bhavan, Bhavani Shankar Road, Dadar (West) City:Mumbai State:Maharashtra Pincode:400028 Email ID:investors@navneet.com Web Url:http://www.navneet.com

Factory/plant
Village Sayali City:Silvassa State:Dadra & Nagar Haveli Pincode:0 Email ID:navneet1@bom4.vsnl.net.in Rakanpur, Taluka Kalol, Dist Mehsana City:Kalol State:Gujarat

Village Dantali, Behind Kasturi Nagar City:Gandhi Nagar Dist. State:Gujarat

Gokhiware, Chinchpada, Vasai (East) City:Thane District State:Maharashtra

Dabhel, Nani Daman, U T Daman & Diu City:Daman State:Daman & Diu Branch Office Navneet House, Gurukul Road, Memnagar City:Ahmedabad State:Gujarat Pincode:380052 Email ID:npil.ahd@navneet.com

Company History
- The Company was incorported on 18th September, and obtained the Certificate of Commencement of Business on 12th October, 1984. It was promoted by Jaisinh Kanji Sampat, Chatrabhuj Kanji Sampat and Dilip Chatrabhuj Sampat. - The Company carry on business as printers, publishers of educational books, newspapers, journals, etc. A new printing press was set up at Dantali in Gujarat incorporating latest printing technology and performing varied production functions like printing, binding, etc. - 70 No. of equity shares subscribed for by Signatories to the Memorandum of Association. 4,99,930 No. of equity shares then issued at par of which 1,99,930 shares were reserved and allotted to promoters, directors, friends, etc. The remaining 3,00,000 shares were offered for public subscription during November 1984 (all were taken up). 1986 - 12,00,000 Rights equity shares were offered at par in prop. 12:5 during January 1987 (all were taken up). 1991 - The Company has changed its name from Bookwing Publications & Trading Co. Ltd. to Navneet Publications (India) Ltd. with effect from 22nd November. 1992 - The Company has set up export division to export paper stationery products during the year. - The Company installed computerised weighing system to check the wastage and effect corrective actions. One photo type setting machine, imported from USA was installed. - The Company has entered into agreement with the publishers, acquiring licence to publish more than 2000 titles. 1993 - The Company was successfully implemented its expansion-cum-diversification project. The Company is setting up an additional unit at Daman for manufacturing paper stationery items and educational books involving a total project outlay of Rs 700 lakhs. - 15,00,000 shares allotted at par to publishers and their nominees. 15,52,400 shares issued to public (prem. Rs 50 per share) through prospectus.

1994 - 16,00,000 No. of Equity shares of Rs 10 each at a premium of Rs 10 per share allotted on conversion of Fully Convertible Debentures. - The Company is setting up an additional unit at Daman for manufacturing paper stationery items and educational books1. - The Company has installed 4 Wind Electric Generators. 1995 - 31,76,200 No. of equity shares allotted as bonus shares in the ratio of 1:2. - The Company also installed a state-of-the-art `Notebook-On-Line' machine, in the year, at Daman. 1997 - The company had signed the agreement with the National security Depository Ltd. (NSDL) 1998 - CRISIL has re-assigned its highest rating of P1+ (pronounced as P one plus) for the commercial paper programme of the company, indicating highest safety. 1999 - The company was selected to receive the Analyst Award 1999 from the Institute of Chartered Financial Analysts of India. - The company has acquired three registered trademarks Navneet, Vikas and Gala from three partnership firms. - The company has decided to open the chain book stores throughout the country and has made a foray into electronic publishing with the launch of their first interactive CD-Rom, titled `The World of Talking Pictures'. 2000 - The company has set up a new business unit of electronic publishing, to keep pace with technology. - The P1+ rating assigned to the CP issue of the Company has been reaffirmed by Crisil. - Navneet Publication (India) Ltd., has tied up with the Singapore Tourism Board (STB) to

celebrate the Millenniamania, a series of events and festivals. - The Company has acquired 100 per cent equity shares of Navneet Edutauinment Ltd. Accordingly, Navneet Edutainment Ltd has become 100 per cent subsidiary of the company. - The Company has been allotted 49,98,500 No. of equity shares of Rs 10/- each (Rs. 3/- per share paid-up) of Navneet Edutainment Limited, a wholly owned subsidiary of the company 2001 - The Company has introduced another book in its ongoing series, A Vision of India. - Navneet Edutainment Ltd., a wholly-owned subsidiary of the company, allotted 1,50,000 No. of equity shares of Rs 10 each to Nilesh S., Shah, Management Consultants, on March 29, 2001 2002 -Commences Commercial Production at Silvassa unit II of the company, for the manufacturing of a range of stationary products. 2003 -The members approves the delisting of equity shares of the company from the Ahmedabad stock exchange and Saurashtra Kutch Stock Exchange Ltd. 2004 -Equity shares delisted from Ahmedabad Stock Exchange 2005 -Delists securities from the Saurashtra Kutch Stock Exchange Ltd w.e.f. March 31, 2005. 2007 -Navneet Publications Ltd. has appointed Mr. Amit D. Buch has as the Company Secretary and Compliance Officer of the Company w.e.f. 4th June 2007. 2010 - Navneet Publications India Limited has appointed Mr. Mohinder Pal Bansal as Additional Director of the Company with effect from September 14, 2010. - Navneet Publications India Ltd has appointed Mr. Mohinder Pal Bansal as Additional Director of the Company with effect from September 14, 2010.

Management Name
C Amarchand R Gala Amit D Buch Amit D Buch Dungarshi R Gala Gnanesh D Gala Harakhchand R Gala Jaisinh K Sampat Jitendra L Gala Kamlesh S Vikamsey Liladhar D Shah R Varadarajan Shantilal R Gala Shivji K Vikamsey Tushar K Jani

Designation
CEO Managing Director Company Secretary & Compliance Officer Secretary Director Chief Financial Officer Director Joint Managing Director Director (Marketing) Director Director Director Director Chairman / Chair Person Director

Company Analysis.
Since 1959, NAVNEET has been a major force in the dissemination of knowledge. It is a dominant player in the field of publishing with more than 5,000 titles in English, Hindi, Marathi, Gujarati and other Indian and Foreign Languages. Over the decades, Navneet has emerged as a leading manufacturer of Educational Products and provider of Educational Services in India. The company's products are sold under the brand names of 'Navneet', 'Vikas', 'Gala', 'FfUuNn' and 'Boss'. It's portfolio of Educational based Books include high quality supplementary books like Digests (Guides), Workbooks, Smart Workbooks and 21 Question Sets, most of which are published in four languages - English, Hindi, Marathi and Gujarati. The company has a dominant market share in Gujarat and Maharashtra. Also, with the new range of supplementary books targeting the students from CBSE and ICSE Boards, its educational products are now made available across India. The company also publishes various titles in the Children and General books category, which are not based on Educational, such as Activity Books for children, Board Books, Story Books, Health related Books, Cookery Books, Mehendi & Embroidery Books, etc. In 1993, the company saw opportunities in the area of exports of Stationery products, for which it now has the state-of-art manufacturing facilities in Vasai (near Mumbai) Daman and Silvassa (Union Territories bordering Maharashtra and Gujarat). In the same year Navneet launched its paper stationery products for the domestic market. Product range includes tight bind note books, long books, hard case bound books and drawing books. The company enjoys leading position in premiere stationery markets in India, the Middle East, parts of Africa, U.S.A. and Europe. Now, with more than 500 SKU's, Navneet is one of the largest paper stationery brand in India. In 2006, taking the success of the Paper Stationery products, Navneet launched its first range of Non-Paper Stationery FfUuNn Pencils. Over the years the Company has added many products under this brand ranging from erasers, sharpeners, rulers, compass boxes, crayons. Foreseeing the need and demand in digital space, the Company ventured into Digital Learning in 2008. eSense was set up to provide a better and a first in its type of experience for the teachers and students in the space of Digital Learning. Till December 2011, eSense had been installed in more than 850 institutions with more than 4,000 classes having the experience of digital learning. Leapbridge Education was conceived and promoted by Navneet in 2010. With this new initiative, Navneet has forayed into pre-primary education, and to start with, it has launched a chain of Pre-Schools under the brand name - Leapbridge. It has 3 pre-schools in Pune and 1 preschool recently launched in Mumbai. In 2011, the Company ventured into School Management Business in Hyderabad by taking a minority stake in a School Management Company in Andhra Pradesh. This company manages around 80 schools in Hyderabad under the brand Gowtham Model Schools. In mid 2012, the Company plans to launch its first retail product - a tablet for students, a revolutionary product which will empower the students to learn as well as evaluate themselves.

According to the Consolidated - Audited financial statement for the Year of 2011, total net operating revenues increased with 5.59%, from INR 538.01 tens of millions to INR 568.07 tens of millions. Operating result increased from INR 108.5 tens of millions to INR 124.93 tens of millions which means 15.14% change. The results of the period increased 2.98% reaching INR 66.42 tens of millions at the end of the period against INR 64.5 tens of millions last year. Return on equity (Net income/Total equity) went from 21.94% to 20.59%, the Return On Asset (Net income / Total Asset) went from 17.56% to 17.09% and the Net Profit Margin (Net Income/Net Sales) went from 11.99% to 11.69% when compared to the same period of last year. The Debt to Equity Ratio (Total Liabilities/Equity) was 120.46% compared to 124.93% of last year. Finally, the Current Ratio (Current Assets/Current Liabilities) went from 9.69 to 11.44 when compared to the previous year.

Financial Highlights for last 5 years


Particulars (INR in millions) Revenue Operating Profit (PBDT) Depreciation Tax Net Profit (PAT) Dividend Dividend (%) to Face Value Book Value (Face value at Rs 2/-) * Equity Capital Reserves and Surplus Debt Capital Employed Gross Block FY 07 3,267.6 719.3 83.1 209.8 426.3 190.5 40.00 9 190.6 1,857.7 491.3 2,048.3 1,421.9 FY 08 4,004.3 841.2 102.2 201.3 537.7 228.7 48.00 10 190.6 2,114.8 835.6 2,473.9 1,740.8 FY 09 5,049.0 986.2 117.1 279.7 589.4 247.7 52.00 11 190.6 2,418.8 650.9 2,760.3 1,850.6 FY 10 5,222.1 1,142.7 116.4 346.6 679.8 238.2 50.00 13 476.4 2,529.6 590.9 3,152.8 1,933.8 FY 11 5,485.0 1,293.5 114.4 403.6 775.5 333.5 70.00 14 476.4 2,917.8 206.0 3,510.0 2,318.8

* Figures are after considering the issue of Bonus Shares NOTES: 1. The Company issued 3 Bonus Shares for 2 Shares held during 2009-10.
Ratio Analysis Profitability Ratios ROACE % (Post-Tax) ROACE % (Pre-Tax) ROFA % (Post-Tax) ROFA % (Pre-Tax) Operating Margin % Profit After Tax Margin % March-07 21.9 32.7 64.7 96.5 22.1 13.0 March-08 23.7 32.7 61.0 83.8 20.5 13.4 March-09 22.5 33.2 66.9 98.6 20.5 11.7 March-10 23.0 34.7 78.8 119.0 21.0 13.0 March-11 23.3 35.4 67.8 103.2 22.8 14.1

Solvency Ratio

March-07

March-08

March-09

March-10

March-11

Debt-Equity

0.0

0.1

0.1

0.0

0.0

Liquidity Ratio Current

March-07 3.1

March-08 2.7

March-09 2.6

March-10 4.0

March-11 3.3

Profitability Ratios Miscellaneous Ratios EPS (Post-Tax) (Rs. 2/- per share) EPS (Pre-Tax) (Rs. 2/- per share) CEPS (Post-Tax) (Rs. 2/- per share) CEPS (Pre-Tax) (Rs. 2/- per share) Dividend Payout % Market Cap (Rs. in Crore) Book Value (Rs. 2/- per share) Raw Material Cost to Sales % Employee Cost to Sales % Fixed Assets Turnover Ratio Capital Turnover Ratio Average Collection (Days) Average Payment (Days) March-07 1.8 2.7 2.1 3.0 51.0 553.0 8.6 55.8 8.0 5.0 1.6 45 15 March-08 2.3 3.1 2.7 3.5 49.8 916.0 9.7 53.3 7.4 4.5 1.7 49 25 March-09 2.5 3.6 3.0 4.1 49.2 474.0 11.0 58.1 7.1 5.7 1.8 44 28 March-10 2.9 4.3 3.3 4.8 41.0 1,217.0 12.6 47.4 8.1 6.1 1.7 53 21 March-11 3.3 4.9 3.7 5.4 50.1 1,313.8 14.2 49.1 8.7 4.8 1.6 54 20

ROACE = Return on average capital employed ROFA = Return on Fixed Assets NOTES: 1. The Company issued 3 Bonus Shares for 2 Shares held during 2009-10. All figures are after considering the issue of Bonus Shares and Stock Splits. 2. EPS, CEPS, Book Value, Dividend Payout is restated for previous years following the Bonus issue of 3:2 during 2009-10

last 5 Year Market Review NSE

BSE

Navneet Publication (India)- Key Fundamentals


Market Cap (Rs Cr.):1,355 EPS - TTM (Rs):3.51 P/E Ratio (x):15.95 Face Value (Rs):2.00 Latest Div. (%):30.00 Div. Yield (%):N.A. Book Value / sh. (Rs) :17.62 P/B Ratio (x):3.23

Navneet Publication (India)- Shareholding Pattern


No. of Shares Promoters General Public Banks & Mutual Funds 14.72Cr. 4.65Cr. 1.45Cr. % Holding 61.80% 19.51% 6.09%

Industry Competitors: Printing/Publishing/Stationery

SYMBOL
Hindustan Media Ventures Ltd. HT Media Ltd. Deccan Chronicle Holdings Ltd. Sundaram Multi Pap Ltd Repro India Ltd. DIC India Ltd Sandesh Ltd. MPS Ltd. Orient Press Ltd Archies Ltd. TCPL Packaging Ltd.

PRICE
119.20 85.50 22.90 14.86 230.00 249.35 251.00 54.95 99.00 22.10 45.00

%CHANGE
3.65% 2.51% 8.95% 1.13% 0.24% 1.44% 0.40% 1.79% 1.54% 4.12% 7.12%

VOLUME
36 204796 308539 540229 8740 2016 101 2286 850 20947 659

Publications
Navneet is in the business of publication of Syllabus based supplementary books for State Board school students in Western India and other Non Syllabus based books for schools across India. Books are the medium of delivering the Content created by the reputed authors. Navneet enjoys Leadership position in Supplementary books having a strong content team of 185 authors. Navneet is a dominant player in Western India for Supplementary books. Workbooks, Guides and 21 Sets form the portfolio for Navneets Syllabus based Publication. For the year ended FY12, Publication segment contributed INR 2,993 million which is about 55% of Companys revenue.

Educational Books
What is a Workbook?

1. Workbooks to reinforce learning In order to reinforce learning, Navneet workbooks are used by students as supplementary curriculum materials. Suiting to the needs of students at all levels, they provide with ready and handy materials, for assessing the performance without any external aid. This effective education tool offers: -a clear summary of lessons/chapters from textbooks -key points to read, revise and reinforce concepts -sufficient space to write answers Written by highly competent educationalists, these workbooks are highly recommended by school teachers. The Workbooks always reflect the latest changes in content and paper pattern as updated by the Board from time to time.

A judicious use of this workbook will not only enable the students to assimilate the subject matter in a systematic way but also generate in them the requisite confidence to face the challenge posed by the examinations. * Workbooks are available for Std 1 to 10 in all prescribed subjects. What is Smart Workbook? 2. Vikas Smart Workbooks Success Way to CCE! For the betterment of students, the education system, especially the examination and evaluation system, has been thoroughly revised by the Government. Navneet strives to bring about these updates in the students' educational material to keep them in line with new changes. Vikas Smart Workbooks are based on the Continuous Comprehensive Evaluation (CCE) - a newly introduced system of evaluation. Meticulous research on the new system has been done before preparing these books for the students. What do the Vikas Smart Workbooks contain? 1. Thought-provoking questions and other various exercises for Summative Evaluation. 2. Open-book tests and Closed-book tests after every few chapters / lessons. 3. Innovative suggestions on the tools of Formative Evaluation such as oral work (group discussion, role-play), activities, projects, etc. in each chapter / lesson. 4. Many exercises based on values, life skills, etc. for all-round development of the students. 5. Model Question Papers including questions for Oral test for Summative Evaluation. Each book gives detailed information on the new evaluation system, on the changed learning focus and examination pattern. The Smart Workbooks ensure that the students as well as their parents become fully conversant with the new system. 1. Based on the textbooks 2. Prepared as per the new CCE system 3. Assignments are given, dividing the chapters / lessons into small sections for better understanding of the students. Use the Smart Workbooks to adapt to the new system with confidence!

What is a Guide?

3.Navneet Digest ready reference guide Navneet Digest is a companion for students. It is a single-source book where they can find all what is relevant to textbook lessons or chapters. Digest in each subject is prepared to cater to the specific need of the students. Each Digest has its student-friendly features to make learning easy and meaningful. Why Navneet Digest? - For an independent study - As a ready reference guide - A user-friendly educational aid - For easy and lucid explanation - A study material well-appreciated by most parents Digests are meticulously updated as regards any change in the syllabus or paper pattern. The students can use these books to understand the concepts well and to know how to express them effectively. Once they learn the tricks, success is surely theirs!

What is 21 Sets? 4. Most Likely Question Sets Synonymous with Exam Success for the past 35 years ! Question Paper Sets specially prepared to help students appearing for the Board Exams (X & XII), ' 21 Most Likely Question Sets' could be one book which everyone closely associates with Navneet : those who succeeded in life - with extreme thankfulness; those who are to appear for the Board Exams - with great expectations. 21 Most Likely offers what a student appearing for the Board Exam needs to know! 1. Effective skills of writing answers 2. Intelligent methods of studying a subject in limited time 3. Precise ways of presenting answers 4. Prioritising and categorising topics for efficient learning Contents : - Question papers based on the board format. - One question paper with complete solution. - Explanation and special tips on each question type. - Model answers to important questions. These books are, from time to time, revised and updated with latest changes in the syllabi and paper pattern prescribed by the Board.

Stationery Division
Serving the Indian teacher-student community, Navneet Publications (India) limited has been a dominant player in the field of providing syllabus and non-syllabus based educational material to students since 1959. Our stationery division was established in the year 1996. This division is broadly divided into two sections : 1. Paper Stationery:

This division enjoys a leading position in the country. It manufactures and distributes premium quality notebooks, long books and other stationery products like drawing books, scrap books, hobby stationery, office stationery etc. All the products enjoy very high loyalty from the student fraternity and the increasing growth has been fueled by innovative and value added products. Navneet also exports its stationery products and children's books to Middle East, Europe, Africa, USA and South America. 2. Non-Paper Stationery:

Navneet Publications for the first time have entered this section of the stationery market with the brand name "FfUuNn" in August 2006 having innovative and state-of-the-art products like pencils, erasers, sharpeners, rulers, Dough , water colours, colour pencils and so on. Navneet's stationery division is the only one across the country who has been boasting an entire range of student stationery products since last 15 years. Stationery division consistently maintains its product quality standards that include eye catching & educative cover designs introduced across the entire product portfolio. These designs are carefully chosen keeping in mind the target audience mainly school and college students. We use eco-buddy paper to manufacture our products. This differentiating factor is usage of bagassebased paper in maximum products. Bagasse is chemically treated dry sugarcane pulp remained after extracting juice to make paper.

Talking on distribution network part , Navneet has 2 centralised offices in Mumbai and Ahmedabad with 3 ultra-modern manufacturing locations at Silvassa (UT), Daman (UT) and Khaniwade (Maharashtra). The 14 Branch Offices, 1500+ Distributors, 17 C&F Agents and 455+ Sales Team Members ensure division's presence in all major markets in India. Division's variety of stationery products today reaches 1,00,000+ retail outlets in more than 600 towns across 23 states & 3 union territories in India that enable us to provide customers with a wide range of products and services. The stationery division actively participates in all major Book Fairs in India to gain a wider scope of business and to have hands on experience with other major developments in its field. Recently we sponsored "Stationery World 2012" A mega event in the stationery industry . Through innovation and technological excellence, we focus on servicing our customers with more value added products to suit their needs. The brand 'Navneet' stands for unique quality and trust which has been gained over the last five decades. The brand promises extremely premium standard products, variety of range, innovative designs and attractive packaging which totally suffice the motive of end users.

Eco Buddy Concept


Navneet Publications (India) Limited have been consistently taking up genuine efforts to increase the green cover and also to overcome the problem of shortage of raw materials by introducing new eco friendly alternatives in its product portfolio which ensures no damage to the environment. We all know that paper is made from wood pulp. However, we use an eco-buddy paper which is made from bagasse i.e. Dry sugarcane pulp remained after extracting juice to make paper and fuel. Navneet Publications (India) Limited has resorted to a unique, novel project that will make significant contribution to protect trees by using eco-buddy paper to manufacture our entire range of products. Paving the way for an eco-buddy product -the basis of sustainable development and taking up constant efforts towards environmental management, Navneet Publications (India) Limited has also launched a complete range of premium stationery products under the brand name "FfUuNn" across India. The range comprises of eco friendly and non-toxic pencils, colour pencils, oil pastels, etc. and uses state-of-the-art technology based on international standards. "FfUuNn" range products are something that cannot be dreamt of in conventional stationery segment. You can make a big difference and save the beauty of the world by using Navneet eco-buddy notebooks. Be a part of our commitment to save the trees and protect the environment. Think about it, every time you buy an eco-buddy book that uses paper made up of bagasse, you will make our planet a little greener and every time you save a tree, you save a part of the planet Earth. It's up to you now, go ahead, and create a revolution. We hope you will like to use ecobuddy note books.

Promotional Tools:
We are using different tools of promotion like television commercials, radio ads, Press Releases , Consumer Offers. Mass Consumer Contact programme has been conducted for our Product Promotion. We also conduct Press Conference on the occasion of major product launch.