To, To, Department of Corporate Services, Listing Department, Phiroze Jeejeebhoy Towers, Dalal Street, C-1, G-Block, Bandra-Kurla Complex Mumbai — 400 001. Bandra, (E), Mumbai — 400 051.

BSE Limited National Stock Exchange of India Limited

Scrip Code: 540403, Scrip Symbol: CLEDUCATE ISIN: INE201M01011

Sub: Outcome of the Board Meeting held on June 24, 2021

Dear Ma'am/Sir(s),

In continuation to our letter dated June 17, 2021, please be informed that the Board of Directors of the Company at its meeting held today i.e., June 24, 2021, inter alia, has approved the following:

1. Appointment of M/s. S. Anantha & Ved LLP, Company Secretaries (LLP-IN: AAH-8229) as the Secretarial Auditor of the Company for the Financial Year 2021-22;

Brief_Profile:- M/s. S. Anantha & Ved LLP, Company Secretaries is a Limited Liability Partnership firm having LLP Identification Number AAH-8229. It was incorporated on November 16, 2016 in India and has its registered office in Mulund, Mumbai.

2. Appointment of Value Square Advisors Private Limited as the Internal Auditor of the Company for the Financial Year 2021-22;

Brief Profile:- Value Square Advisors Private Limited, having CIN U74999DL2018PTC334065 and headquartered in Delhi,is a company consisting of Business Advisors and Chartered Accountants, offering an array of services to support companies' accounting, tax and finance needs.

Appointment of M/s. Sunny Chhabra & Co. (FRN- 101544), Cost Accountants as the Cost Auditor of the Company for the Financial Year 2021-22;

Brief Profile: - M/s. Sunny Chhabra & Co. (FRN- 101544) is a firm of Cost Accountants situated in Ghaziabad, Uttar Pradesh.

1. The Audited Financial Results (Standalone and Consolidated) of the Company for the Quarter and Financial Year ended March 31, 2021 including the Statement of Assets and Liabilities as on March 31, 2021 and Auditors report thereon, are attached herewith as Enclosure —A & B.
1. The Audited Financial Statements (Standalone and Consolidated) of the Company for the Financial Year ended March 31, 2021 and Auditors report thereon.

aay

Pera CaCl) Oc) Mee MLE LUN IC COME CML Cue UU COETME Tn Re rete TTT Corporate Office: A-45, First Floor, Mohan Co-operative Industrial Estate, New Delhi-110044 Mae ete

® www.cleducate.com PRU OLR

Based on the recommendation of the Audit Committee, and subject to the approval of the Members, by way of a special resolution, the sale/transfer of Digital Business of CL Educate Limited to its Wholly Owned Subsidiary, Career Launcher Private Limited as a going concern through a Slump Sale for a lump sum consideration based on the Book Net Worth of the digital business undertaking rounded off to the nearest Crore (as determined by an independent Chartered Accountant) and the consideration to be fully discharged by way of a mix of issue of equity and / or loan;

The Disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. CIR/CFD/CMD/4/2015, dated September 09, 2015, is attached herewith as Enclosure- C

7. Based on the recommendation of the Audit Committee, CL Educate will make an additional investment of up to Rs. 2 Crores in Equity Share Capital of its Wholly Owned Subsidiary, Career Launcher Private Limited, by accepting the Rights Offer made by CLPL.

8. The ESOP Plan of Career Launcher Private Limited, and the Resultant (maximum) Dilution (of up to 10%) in the Ownership / Stake of CL Educate Limited in Career Launcher Private Limited.

The meeting of the Board of Directors commenced at 08:30 P.M. and concluded at 11:10 P.M.

The information 1s also available on the website of the Company (www.cleducate.com).

Kindly take the above on record.

Thanking You,

For CL Educate Limited, Hihdlon ©

Arjun Wadhwa Ne Chief Financial Officer

Place: New Delhi Date: June 24, 2021

Attachments:

a) Audited Fimancial Results (Standalone and Consolidated) for the Quarter and Financial Year ended March 31, 2021 (Enclosure- A).

Corporate Office: A-45, First Floor, Mohan Co-operative Industrial Estate, New Delhi-110044 Aate teh h

® www.cleducate.com rh etl PRE LO a Pera CaCl) Oc) Mee MLE LUN IC COME CML Cue UU RYCRCPMT TT mon eee eee

b) Declaration of un-modified opinion on the Annual Financial Results (Standalone & Consolidated) of the Company pursuant to Regulation $33(3)(d)$ of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Enclosure-B).
c) The Disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, regarding the sale/transfer of Digital Business of CL Educate Limited to its Wholly Owned Subsidiary, Career Launcher Private Limited (Enclosure-C).
d) The Disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, regarding an additional investment of up to Rs. 2 Crores in Equity Share Capital of Career Launcher Private Limited ('CLPL'), a wholly owned subsidiary of the Company, (Enclosure-D).

Heladhwa

CL EDUCATE LIMITED

Registered Office: Plot No. 9A, Sector-27A, Mathura Road, Faridabad, Haryana-121003 Corporate Office: A-45, First Floor, Mohan Co-operative Industrial Estate, New Delhi-110044

● www.cleducate.com [email protected] ◆+91-11-41281100/0800 ●+91-11-41281101 CIN: L74899HR1996PLC076897

Walker Chandiok & Co LLP 21" Floor, DLF Square Jacaranda Marg, DLF Phase Il Gurugram — 122 002 India T +91 124 4626099

F +91 124 4626004

Independent Auditor's Report on Standalone Annual Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

To the Board of Directors of CL Educate Limited

Opinion

We have audited the accompanying standalone annual financial results ('the Statement') of CL Educate Limited (the 'Company') for the year ended 31 March 2021, attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) ('Listing Regulations'), including relevant circulars issued by the SEBI from time to time.
In our opinion and to the best of our information and according to the explanations given to us, the Statement:
(i) presents financial results in accordance with the requirements of Regulation 33 of the Listing Regulations, and
(ii) gives a true and fair view in conformity with the applicable Indian Accounting Standards ('Ind AS') prescribed under Section 133 of the Companies Act, 2013 ('the Act'), read with relevant rules issued thereunder, and other accounting principles generally accepted in India, of the standalone net loss after tax and other comprehensive loss and other financial information of the Company for the year ended 31 March 2021.

Basis for Opinion

. We conducted our audit in accordance with the Standards on Auditing ('SAs') specified under section 143(10) of the Act. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Statement section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India ('the ICAI') together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believeithat >> the audit evidence obtained by us, is sufficient and appropriate to provide a basis for our opinic : WF

Offices in Bengaluru, Chandigarh, Chennai, Gurugram, Hyderabad, Kochi, Kolkata, Mumbai, New Dethi, Noida and Pune number AAC-2085 and its registered office

Chartered Accountants Walker Chandiok & Co LLP is registered with limited liability with identification at L-41 Connaught Circus, New Delhi, 110001, India

Independent Auditor's Report on Standalone Annual Financial Results of CL Educate Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (cont'd)

Emphasis of Matter

We draw attention to Note 6 to the standalone financial results, which describes the uncertainties relating to COVID-19 pandemic outbreak and management's evaluation of its impact on the operations of the Company and accompanying standalone financial results as at the balance sheet date, the extent of which is significantly dependent on future developments as they evolve.

Our opinion is not modified in respect of this matter.

Responsibilities of Management and Those Charged with Governance for the Statement

1. This Statement has been prepared on the basis of the standalone annual audited financial statements and has been approved by the Company's Board of Directors. The Company's Board of Directors is responsible for the preparation and presentation of the Statement that gives a true and fair view of the net profit/loss and other comprehensive income and other financial information of the Company in accordance with the accounting principles generally accepted in India, including Ind AS prescribed under Section 133 of the Act, read with relevant rules issued thereunder and other accounting principles generally accepted in India, and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that gives a true and fair view and is free from material misstatement, whether due to fraud or error.
1. In preparing the Statement, the Board of Directors is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern, and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
1. The Board of Directors is also responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit of the Statement

1. Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with Standards on Auditing, specified under section 143(10) of the Act, will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Statement.
1. As part of an audit in accordance with the Standards on Auditing, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
e Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
e Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Ac {Wey are also responsible for expressing our opinion on whether the Company hast 'in, ere adequate internal financial controls with reference to financial statements and this operating effectiveness of such controls.

Independent Auditor's Report on Standalone Annual Financial Results of CL Educate Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (cont'd)

e Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the management.
e Conclude on the appropriateness of the management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
e Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.
1. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
1. We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Other Matters

1. The Statement includes the financial results for the quarter ended 31 March 2021, being the balancing figures between the audited figures in respect of the full financial year and the published unaudited year-to-date figures up to the third quarter of the current financial year, which were subject to limited review by us.
1. The audit of standalone financial results for the corresponding quarter and year ended 31 March 2020 included in the Statement was carried out and reported by Haribhakti & Co LLP who have expressed unmodified opinion vide their audit report dated 29 June 2020, whose report has been furnished to us, and which has been relied upon by us for the purpose of our audit of the Statement. Our opinion is not modified in respect of this matter.

For Walker Chandiok & Co LLP Chartered Accountants Firm Registration No.: 001076N/N500013

Neeraj Goel Partner Membership No. 099514

UDIN: 2109951 4AAAADS3067

Place: Gurugram Date: 24 June 2021

	CL Educate Limited CIN No:- L74899HR1996PLC076897 Registered Office: Plot No.9A, Sector 27A, Mathura Road, Faridabad, Haryana -121003 Corporate office: A-45, First Floor, Mohan Co-operative Industrial Estate, New Delhi- 110044 STATEMENT OF STANDALONE ASSETS AND LIABILITIES AS AT MARCH 31,2021
			(Rs. in Lacs)
	Particulars	March 31, 2021	March 31, 2020
		Audited	Audited
A	ASSETS
$\overline{1}$	Non-current assets
	Property, plant and equipment	2,468.63	3, 121.73
	Right of Use Assets Investment property	305.62 294.16	755.92 299.91
	Goodwill	212.38	212.38
	Other intangible assets	2,043.07	1,997.78
	Intangibles under development	51.10	102.81
	Investment in subsidiaries and associates	15,698.57	15,696.22
	Financial assets
	(i) Loans	64.03	116.42
	(ii) Other financial assets	4.40 933.15	401.92
	Non-current tax assets Deferred tax assets (net)	422.13	900.59 290.30
	Other non-current assets	83.50	45.79
	Total Non-current assets	22,580.74	23,941.77
$\overline{2}$	Current assets
	Inventories	465.40	540.69
	Financial assets (i) Investments	3,852.91	3,716.34
	(ii) Trade receivables	1,508.62	3,301.16
	(iii) Cash and cash equivalents	362.04	434.79
	(iv) Bank balances other than (iii) above	432.36	19.20
	$(v)$ Loans	4,591.97	4,957.00
	(vi) Other financial assets	385.41	772.35
	Other current assets	2,296.64	2,468.47
	Total current assets	13,895.35	16,210.00
	Assets held for sale Total Assets	546.16 37,022.25	40, 151.77
B	EQUITY AND LIABILITIES
$\mathbf{1}$	Equity
	Equity share capital	1,416.57	1,416.57
	Other equity	27,803.10	28,310.18
$\overline{2}$	Total equity LIABILITIES	29,219.67	29,726.75
	Non-current liabilities
	Financial liabilities
	(i) Borrowings	470.83	83.58
	(ii) Lease Liability	130.05	391.54
	Provisions	345.08	317.88
	Other non-current liabilities	97.07	37.25
$\overline{\mathbf{3}}$	Total Non-current liabilities Current liabilities	1,043.03	830.25
	Financial liabilities
	(i) Borrowings	2,433.45	3,433.39
	(ii) Trade payables
	- total outstanding dues of micro and small enterprises; and	763.63	636.77
	- total outstanding dues of creditors other than micro and small enterprises (iii) Lease Liability	1,609.62 81.11	2,901.93 286.92
	(iv) Other financial liabilities	831.87	898.65
	Other current liabilities	1,030.81	1,428.84
	Provisions	9.06	8.27
	Total current liabilities	6,759.55	9,594.77
	Total liabilities	7,802.58	10,425.02
	Total Equity and Liabilities	37,022.25	40, 151.77

$\cup$ C

$H_{0}$ Sam

CL Educate Limited CIN No:- L74899HR1996PLCO76897 Registered Office: Plot No.9A, Sector 27A, Mathura Road, Faridabad, Haryana -121003 Corporate office:A-45, First Floor, Mohan Co-operative Industrial Estate, New Delhi- 110044

AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31,2021

					Rs.in lacs, exc!	rshare data
Particulars			For the quarter ended			For the year ended
		March 31, 2021	December 31, 2020	March 31, 2020	March 31, 2021	March 31, 2020
		Refer note 9	Reviewed	Refer note 9	Audited	Audited
	INCOME
	a) Revenue From rations	2,683.78	2,312.37	3,453.68	9,986.49	16,334.73
	(b) Other Income	273.38	152307	295.58	837.50	1,234.38

	EXPENSES
	a) Purchases of Stock-in-Trade	249.21		234.53	444.33	1,095.31
	(b) Changes in inventories of Stock-in Trade	(48.41)		10.52	75.29	(56.76)
	benefits nse ¢	548.98		582.49	1,738.85	2,203.60
	Finance costs d)	62.47		98.41	369.94	528.24
	(e) Depreciation and amortization expense	94.09		273.09	608.18	1,112.72
	Franchisee	1,107.63		1,513.37	3,383.42	6,633.30
	Other expenses	2,055.73		2,896.68	4,829.33	7,186.17

	Profit/(loss) before exceptional items and tax (III-IV)	(1,112.54)		(1,859.83)	(625.35)	(1,133.47)
	Exceptional Items			4,150.05		4,150.05
	before tax Profit /(loss) (V-VI	1,112.54		6,009.88	625.35	5,283.52
	Tax expense	(278.74)		(76.02)	(112.55)	33.83
	Profit /(Loss) for the period/year (VI- ))	(833.80)		(5,933.86)	(512.80)	(5,317.35)
	Other Com nsive Income
	(i) Items that will not be reclassified to profit or loss	(0.61)
	(ii) Income tax relating to items that will not be reclassified to profit or loss	0.17

	Paid-up Equity Share Capital (face value of Rs. 10 each)	1,416.57	1,416.57	1,416.57	1,416.57	1,416.57
	Other equi				27,803.10	28,310.18
	share*: Earni
	(a) Basic	(5.89)			(3.62)	(37.54)
	(b) Diluted	(5.89)			(3.62)	(37.54)

"Earnings per equity share for the quarters have not been annualised

CL Educate Limited CIN No:- L74899HR1996PLCO76897 Registered Office: Plot No.9A, Sector 27A, Mathura Road, Faridabad ,Haryana -121003

AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021 STANDALONE SEGMENT REVENUE, RESULTS, ASSETS AND LIABILITIES

		CL Educate Limited
		CIN No:- L74899HR1996PLCO76897
		Registered Office: Plot No.9A, Sector 27A, Mathura Road, Faridabad ,Haryana -121003
		AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021 STANDALONE SEGMENT REVENUE, RESULTS, ASSETS AND LIABILITIES
					(Rs. In Lacs, except per share data)
Segment Wise Performance	March 31, 2021	For the Quarter Ended December 31, 2020	March 31, 2020	March 31, 2021	For the Year Ended March 31, 2020
	Refer note 9	Reviewed	Refer note 9	Audited	Audited
Segment Revenue Partner	1,641.89	1,391.74	2,373.25	5,432.73	10,396.55
Digital Vocational	1,041.89 =	920.63 =	1,080.43	4,553.76 =	5,938.18 =
Total Segment Revenue from Operations	2,683.78	2,312.37	3,453.68	9,986.49	16,334.73

(Gross)
Segment Results Partner	251.79	340.20	298.46	999.47	1,611.85
Digital	24.20	173533	(926.39)	435.45	(491.77)
Vocational Total Segment Results	(1,037.43) (761.44)	(136.99) 376.54	(753.31) (1,381.24)	(1,250.23) 184.69	(1,378.93) (258.85)
Add: Other Income	273.38	152.77	295.58	837.50	1,234.38
Less:- Finance Cost Less:- Unallocated expenses	62.47 562.01	94.54 284.37	98.41 675.76	369.94 1,277.60	528.24 1,580.76
Profit/(Loss) before tax	(1,112.54)	150.40	(1,859.83)	(625.35)	(1,133.47)
Less: Exceptioanl items	-	-	4,150.05	-	4,150.05
Profit/(Loss) before tax after exceptional items	(1,112.54)	150.40	(6,009.88)	(625.35)	(5,283.52)
Less: Tax Expenses Net Profit / (Loss) for the period	(278.74) (833.80)	58.49 91.91	(76.02) (5,933.86)	(112.55) (512.80)	33.83 (5,317.35)
Other Comprehensive Income	(0.44)	1.22	1.17	3922.	6.50
Total Comprehensive Income	(834.24)	93.13	(5,932.69)	(509.58)	(5,310.85)
Segment Assets Partner	4,361.50	4,449.05	4,821.80	4,361.50	4,821.80
Digital	3,060.65	3,583.62	4,159.21	3,060.65	4,159.21
Vocational Unallocated	397.71 29,202.39	1,409.47 29,168.63	1,493.22 29,677.54	397.71 29,202.39	1,493.22 29,677.54
Total	37,022.25	38,610.77	40,151.77	37,022.25	40,151.77

Segment Liabilities Partner	1,643.60	1,898.88	2,594.86	1,643.60	2,594.86
Digital Vocational	1,590.01 695.30	2,000.06 474.27	2,451.43 923.95	1,590.01 695.30	2,451.43 923.95
Unallocated	3,873.67	4,184.38	4,454.78	3,873.67	4,454.78
Total	7,802.58	8,557.59	10,425.02	7,802.58	10,425.02

CL Educate Limited CIN No:- L74899HR1996PLCO76897 Registered Office: Plot No.9A, Sector 27A, Mathura Road, Faridabad, Haryana -121003 Corporate office:A-45, First Floor, Mohan Co-operative Industrial Estate, New Delhi-110044

	CL Educate Limited CIN No:- L74899HR1996PLCO76897 Registered Office: Plot No.9A, Sector 27A, Mathura Road, Faridabad, Haryana -121003
	Corporate office:A-45, First Floor, Mohan Co-operative Industrial Estate, New Delhi-110044 Audited Standalone Statement of Cash flows for the year ended March 31, 2021
		Year ended	(Rs. In Lacs} Year ended
	A. Cash flow from operating activities	March 31, 2021	March 31, 2020
	Net Profit/(Loss} before tax Adjustment For: Depreciation and amortisation expense	(625.35) 608.18	(5,283.52) 1,112.72
	Gain on sale of property, plant and equipment Finance cost	(1.40) 369.94	528.24
	Rent income on investments property Advances written off Liability no longer required written back	(11.10) 32.61 (222.83)	(26.49) 418,32 (126.78)
	Unwinding of interest on security deposits Employee share-based payment expenses	(15.69) :	(19. 16) 2.16
	Unrealised foreign exchange gain (net) Commission income on financial guarantee Interest income	- (1.85) (425.02)	(57.67) (1.65) (499.61)
	Bad debts written off Gain on mutual fund Net gain on fair value change	1,934.47 - (136.57)	2,397.94 (225.23) (112.42)
	Gain on lease modification Exceptional items.	(12.49) :	- 4,150.05
	Operating profit before working capital changes Adjustment for increase)/decrease in assets -Inventories	1,492.90 F529	2,256.90 (46.70)
	-Trade receivables -Current and non current loans -Other current financial assets	(141.93) 10.94 380.81	(1,115.91) (18.27) (195. 86)
	-Other non current and current assets Adjustment for increase/(decrease} in liabilities	191.77	(620.98)
	-Non-current and current provisions -Other non current and current. liabilities -Trade payables	23:53 (362.96) (942.62)	61.83 705.27 (61.22)
	-Other current financial liabilities Cash Generated from operations Less: Income tax paid (net of refunds)	(0.48) 727,25 (53.08)	(84.43) 880.63 (146.26)
	Net cash generated from operating activities (A}	674.17	734.37
r	Cash flow from investing activities Purchase of property, plant and equipment (including capital and capital advances) creditors	(96.08)	(65.45)
	Purchase/development of other intangible assets (including intangilbles under development) Proceeds from sale of property, plant and equipment	(392.55) 48.76	(599.12)
	Purchase of investment of in subsidiaries/associates and businesses	(0.50)	: (76.32)
	Purchase of investment (mutual fund) Sale of Investment (mutual fund) Rent income on investments property	: - 11.10	(1,905.00) 1,156.98 26.49
	Loans given to subsidiaries Proceeds from realisation of loan given to subsidiaries Term deposits not considered as cash and cash equivalents	389.56 - (15.64)	(184.54) 175.66 1,085.90
	Interest received Net cash flow generated from / (used in} investing activities (B}	428.60 373.25	96.81 {288.59}
	C._ Cash flow from financing activities
	Repayment of long-term borrowings Proceeds from long-term borrowings	(170.21) 500.00	(159. 89)
	Net decrease/ (increase) in working capital borrowings Payment of lease liabilities Interest expense Paid	(999.95) (120.27) (329.74)	391.94 (243.23) (520.07)
	Dividend paid Net cash used in financing activities (C}	- {1,120.17}	(170.77) {702.02}
	Net (decrease} in cash and cash equivalents (A+B+C} Balance at the beginning of the year	{72.75}	{256.24}
	Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year	434.79 362.04	691.03 434.79
	Notes to cash flow statement Components of cash and cash equivalents
	Balances with banks Current account Cheques/drafts on hand	266.98 7.87	340.14 2.33
	Cash on hand	87.19 362.04	92.32 434.79

Notes:

The above standalone financial results of CL Educate Limited (the 'Company') for the year ended March 31, 2021 have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on June 24, 2021 and have been audited by the statutory auditors of the Company.
The above standalone financial results for the quarter and year ended March 31, 2021 have been prepared in accordance with the Indian Accounting Standards ('Ind-AS') as notified under the Companies (Indian Accounting Standards) Rules, 2015 (as amended), specified under section 133 of the Companies Act, 2013.
In accordance with Ind AS-108 "Operating Segments" and based on "Management Evaluation', the Chief Operating Decision Maker (CODM) evaluates the Company's performance and allocates resources based on the analysis of various performance indicators by business segments. Accordingly, information has been presented along these business segments. The accounting principles used in preparation of financial statements are constantly applied to record revenue and expenditure in individual segments.

Previously, the Company had considered "Consumer Test Prep" and "Others" as the only reportable segments of the Company. During the year, based on the increasing growth and focus on Digital delivery of services and the consequent changes to the nature of internal reporting provided to the CODM, the management has reassessed the company's segments. Accordingly, reportable segments of the company have been reclassified into "Partner", "Digital" and "Others". "Partner" segment includes the business generated and services through our Business Partners (Franchisees), whilst our "Digital" segment includes business generated and services rendered through a combination of a digital / online channel and offline point of sale counselling-cum-service centres run by the company. The segment "Others" comprises primarily the scaled down vocational training business. Accordingly, segment information provided in these results, including in respect of comparative periods, is based on such operating segments as described above.

The Company in the past has undertaken Central and State Government/ Agencies projects in the education / skill development sector. The dues from the concerned department / agency have not been realized mainly on account of delays and long processes. Keeping in mind that these balances have been outstanding for more than 3 years, as a matter of prudence, the Company has opted to write-off Rs. 14.5 crores of the 18.1 crores that was outstanding at the start of FY'21. In the opinion of the Management, it has made the necessary provision, wherever required and the remaining balances which are being carried forward into FY'22 are fully recoverable. The details of the amount recoverable are as under: -

Nature of Balance Total	outstanding March 31, (Rs. in lacs)	amount Amount as on outstanding 2021 for more than (ECL) Years 3 of outstanding) (Rs. in lacs)	Expected Credit (Out provision total amount outstanding March 2021 on as 2021 31, in lacs)	Amounts loss write off considered in Year on the Ended March 31, (Rs. in (Rs. lacs)
Trade Vocational Receivables	65759	357.59	23.44	1450.00

The Board of Directors of the Company has approved the scheme of arrangement of amalgamation of its subsidiary companies into the Company ("the Scheme') in its meeting held on November 27, 2018. The scheme has been approved by the National Stock Exchange of India Limited ("the NSE") and BSE Limited ("the BSE"). During the previous year 2019-20, an application under regulation 37 of the SEBI (LODR) Regulations, 2015 was filed with the National Company Law Tribunal (NCLT),

for the proposed amalgamation of Career Launcher Education Infrastructure and Services Limited, CL Media Private Limited, Accendere Knowledge Management Services Private Limited, G.K. Publications Private Limited and Kestone Integrated Marketing Services Private Limited ("Amalgamating Company") with CL Educate Limited ("Amalgamated Company"). The Scheme will be effective upon approval from NCLT, which is pending as on date, predominantly on account of the COVID-19 pandemic. The appointed date as proposed date by the Company is April 1, 2019. The company has filed a petition in NCLT to expedite the process of merger. The next hearing is scheduled to be held on July 30, 2021.

The nationwide lockdown due to spread of COVID-19 and other significant restrictions imposed on the movement had an impact on the education sector as well, as all of the Company's study centres across India continued to remain shut for major part of the Year ended March 31, 2021. The Management had, however, made necessary adjustments to its service and customer acquisition processes, moving to a largely Digital model, thereby minimizing the business impact of the pandemic.

During the current period, the Management has re-evaluated the likely impact of COVID-19 on its business operations, demand for its products/services, profitability, capital and financial resources, liquidity position, ability to service debt arrangements and financial and non-financial assets, etc. Based on the projected cash flows drawn for the current financial year, the Management has concluded that the company will have sufficient liquidity to continue its operations in an uninterrupted manner. Also, the Management is of the view that there is no material impact and is confident of recovering the carrying amount of all the assets. Any possibilities of delays in collection are covered by the Expected Credit Loss Model.

For the aforesaid evaluation, the Management has considered internal and external sources of information up to the date of approval of these financial results. The actual impact of the pandemic may, however, differ from that estimated as at date of approval of these financial results and the Management will continue to closely monitor any material changes to future economic conditions.

The management of the company intends to sell its property at Faridabad, cost of which is Rs. 546.16 lacs and has received a definitive proposal from a buyer. The proposal presented by the Management Committee has been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on June 24, 2021. The sale is expected to be closed in the upcoming few months. The company has highlighted the same as "Assets Held for Sale".
Due to an increase in the digital nature of the business, the management of the company had sought approval from the Board of Directors for transferring the Test Prep Digital Business into a separate wholly-owned subsidiary — Career Launcher Pvt. Ltd. in order to unlock the maximum potential of the Digital business. The Board of Directors have given its approval for execution of the slump sale and the same will next be sent for Shareholders' approval.
Figure for the quarter ended March 2021 and 31 March 2020 are the balancing figures between audited figures for the financial year and reviewed year to date figure upto third quarter of the respective financial years.
1. Figures for the previous period have been regrouped/ reclassified wherever necessary to conform to the current period's classification.

5 Date: 24 June 2021

For and on behalf of the Board

f /| ntl a Gautam Puri

Place: New Delhi Vice Chairman and Managing Director

Walker Chandiok & Co LLP 21" Floor, DLF Square Jacaranda Marg, DLF Phase Il Gurugram — 122 002 India T +91 124 4626099 F +81 124 4626001

Independent Auditor's Report on Consolidated Annual Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)