Global Education Limited — Interim / Quarterly Report 2021

Nov 11, 2021

GLOBAL EDUCATION LIMITED

CORPORATE IDENTIFICATION NUMBER(CIN) - L80301MH2011PLC219291 Registered Office : Office No.306,3rd Floor Jaisingh Business Center Premises CHSL,Sahar Road, Parsiwada, Andheri(E), Mumbai - 400099 , Maharashtra - India Tel No. +91 22 49242584, e-mail id : investorinfo@globaledu.net.in, Website : www.globaledu.net.in

through Online Filing

GEL/CS/171

Dated: Thursday, the 11th November, 2021

To, To, The Manager, Listing Department, National Stock Exchange of India Limited Exchange Plaza, C-1, Block —G, Bandra Kurla Complex, Bandra (East) Mumbai- 400051, Maharashtra, India

Reference: Symbol: GLOBAL ISIN No: INE 291 W01011

Sub: Disclosure pursuant to Regulation 30 & 33 of the SERI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

Outcome of Meeting No. 5 of Financial Year 2020-2021 of the Board of Directors of the Company held on Thursday, the 11thday of November, 2021 at Nagpur

Dear Sir/Madam,

Further to our letter Ref. No. GEL/CS/170 dated 26th October, 2021 and with reference to the captioned subject, we wish to inform you that:

• 1. The Meeting No. 5 of Financial Year 2021-2022 of the Board of Directors of the Company was held on Thursday, the 11th day of November, 2021 at Nagpur.
• 1. The Board of Directors of the Company, amongst others, has considered, reviewed and took on records (approved), the Statement of Un-audited Financial Results (Standalone) of the Company for the quarter (Q-2)and half year ended 30th September, 2021., duly reviewed, approved and recommended by the Audit Committee of the Company.
• 1. The Board of Directors of the Company also took note and on records the Limited Review Report submitted by Messers Patel Shah & Joshi, Chartered Accountants., (Firm Registration No. 107768W), Mumbai - the Statutory Auditors of the Company, in respect of the Statement of Un-audited Financial Results (Standalone) of the Company for the quarter and Half Year (H-1) ended 30 September 2021.

GLOBAL EDUCATION LIMITED

CORPORATE IDENTIFICATION NUMBER(CIN) - L80301MH2011PLC219291 Registered Office : Office No.306,3rd Floor Jaisingh Business Center Premises CHSL,Sahar Road, Parsiwada, Andheri(E), Mumbai - 400099 , Maharashtra - India

Tel No. +91 22 49242584, e-mail id : investorinfo@globaledu.net.in, Website : www.globaledu.net.in

In accordance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), the Statement of Un-audited Financial Results (Standalone) of the Company for the Quarter [Q-2] and Half-Year (1-11) ended 30 September 2021 together with the Statement of Assets & Liabilities and Statement of Cash Flow (Standalone) of the Company for the Quarter [Q-2] and Half-Year (H-1) ended 30 September 2021 together with Statement of Segment Reporting, Notes thereof, and also, the Limited Review Report of the Statutory Auditors of the Company, are enclosed herewith as an Annex. The aforesaid financial results together with other requisite enclosures are also made available on the Company's website www.globaledu.net.in.

1. The Board of Directors of the Company, amongst others, has considered, noted and/or approved:

(a) Re-constitution of the Stakeholders' Relationship Committee of the Board pursuant to Section 178 and other applicable provisions, if any, of the Companies Act, 2013 read with the Companies (Meetings of Board and its Powers) Rules, 2014 (as amended) and the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 [SEBI (LODR) Regulations, 2015 / Listing Regulations] and the present composition of the committee is as follows:-

Sr.No	Name of Committee members	Category (Chairperson / Executive / Non-Executive / Independent / Nominee) \$
1.	Mr. Gururaj Karajagi	Chairman - Non Executive Non Independent
		Director
2.	Mr. Aditya Bhandari	Member -Executive Director[Whole Time Director]
3	Mrs. Surekha Thacker	Member - Independent Director [Non Executive]

(b) Re-constitution of the Corporate Social Responsibility (CSR) Committee of the Board pursuant to Section 135 and all other applicable provisions, if any, of, including Schedule VII to, the Companies Act, 2013 read with the Companies (Corporate Social Responsibility Policy) Rules, 2014 (as amended) and the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 [SEBI (LODR) Regulations, 2015 / Listing Regulations] and the present composition of the committee is as follows:-

Sr.No	Name of Committee members	Category (Chairperson / Executive / Non-Executive / Independent / Nominee) \$ Chairman - Executive Director [Whole Time Director]
1.	Mr. Aditya Bhandari
2.	Mr. Gururaj Karajagi	Member - Non Executive Non Independent Director
3	Member - Independent Director [Non Executive]

GLOBAL EDUCATION LIMITED

CORPORATE IDENTIFICATION NUMBER(CIN) - L80301MH2011PLC219291 Registered Office : Office No.306,3rd Floor Jaisingh Business Center Premises CHSL,Sahar Road, Parsiwada,

Andheri(E), Mumbai - 400099 , Maharashtra - India

Tel No. +91 22 49242584, e-mail id : investorinfo@globaledu.net.in, Website : www.globaledu.net.in

(c) Re-constitution of the Nomination and Remuneration Committee of the Board pursuant to Section 178 and other applicable provisions, if any, of the Companies Act, 2013 read with the Companies (Meetings of Board and its Powers) Rules, 2014 (as amended) and the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 [SEBI (LODR) Regulations, 2015 / Listing Regulations] and the present composition of the committee is as follows:-

Sr.No	Name of Committee members	Category (Chairperson / Executive / Non-Executive / Independent / Nominee) \$
1.	Ms. Shunali Nagarkatti	Chairperson -Independent Director [Non Executive]
2.	Mr. Inder Krishen Bhat	Member -Independent Director [Non Executive]
3	Mrs. Surekha Thacker	Member -Independent Director [Non Executive]
4	Mr. Vijay Singh Bapna	Member -Independent Director [Non Executive]

(a) Re-constitution of the Audit Committee of the Board pursuant to Section 177 and all other applicable provisions, if any, of the Companies Act, 2013 read with the Companies (Meetings of Board and its Powers) Rules, 2014 (as amended) and the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 [SEBI (LODR) Regulations, 2015/Listing Regulations] and the present composition of the committee is as follows:-

Sr.No	Name of Committee members	Category (Chairperson / Executive / Non-Executive / Independent / Nominee) \$
1.	Mr. Vijay Singh Bapna	Chairman -Independent Director [Non Executive]
2.	Ms. Shunali Nagarkatti	Member -Independent Director [Non Executive]
3	Mr. Inder Krishen Bhat	Member -Independent Director [Non Executive]
4	Mrs. Surekha Thacker	Member -Independent Director [Non Executive]

Please be noted that the Meeting No. 5 of Financial Year 2021-2022 of the Board of Directors of the Company was commenced at 13.15 Hrs and concluded at 15.15 Hrs on Thursday, the 11`h November, 2021 at Nagpur.

You are therefore, kindly requested to place the aforesaid information on records and do the needful. Meantime, kindly acknowledge the receipt.

Sincerely, FOR GLOBAL EDUCATION LIMITED

Vitee, ,"' VaCtt(u 7:•••!:.

CS PREETI PACHERIWALA --.1 t-- !. COMPANY SECRETARY z 0 ICSI MEM. NO: F7502 V

Address: Pacheriwala Building, Opposite Ganraj Ho O n a' . _ - Temple Bazar Sitabuldi, Nagpur — 440012, Maharashtra, India

TEL, SHAH & JOSHI

i Chartered Accountants

PARTNERS : CONSULTANT : M.S. SHAH, 8. A. (Econ.), FCA, ATL (England) V.N. Shah M.A. (Cantab) ACA (England) J. i. MEHTA, B. Com., FCA.

501-503, Shee! Chambers, 5th Floor, 10, Cawagji Patel Street, Fort, Mumbai - 400 004 India TEL :+022-2287 1591/49703398. FAX :+022-2282 S865. E-mail 'psjbom@gmail.com

Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Standalone Financial Results of the Company Purstant to the Regulation 33 of the SEBL (Listing Obligations and Disclosure Requirements} Regulations, 2015, as amended

Review Report to The Board of Directors Global Education Limited.

• |. We have reviewed the accompanying statement of unaudited standalone financial results of Global Education Limited (the "Company") for the quarter and six month ended. September 30, 202! (the "Statement") attached herewith, being prepared and submitted by the Company pursuant to he requirements of Regulation 33 of the SEBI (Listing Obligations and. Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations")
• ba This Statemewt, which is the responsibility of the Company's Management and approved by the Compaiiv's Board of Directors, has been prepared: in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34} "Interim Financial Reparting" prescribed under Section 133 ef the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• We conducteé! our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting mtters, and applying analytical and other review procedures. A review is substantially jess mm scope thar an-audit conducted in accordance with Standards on Auditing and consequeritly does not enadle us to obtain assurance that we would become aware of all significant mutters that might be identified in an audit. Accordingly, we do not express an audit opinion: Lad
• 1. Based an our review conducted as above, nothing has come to our attention that causes us to believe that tic accompanying Statement, prepared in accordance with the recognition and

measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Patel Shah & Joshi Chartered Accountants Firm Registration No. 107768W

ical oak YC. \ -

Jayant I Mehta Partner ¥ Membership No: 042630 UDIN: 21042630AAAAFL4362 Place: Mumbai Date: 11!" Noveniber, 2021

Global Education Limited

Registered Office 306, 3rd floor laisingh business Centre Premises CHSL, Sahar Road, Block sector : Parsiwada, Andheri (E) ,Mumbai-400099.

CIN No. L80301MH2011PLC219291

Notes

	Statement of Unaudited Standalone Financial Results for the quarter/half year ended 30th Sep ember, 2021 Amount in Rs. Lakhs
Sr.		Quarter ended			Half Year ended		Year ended
No.	Particulars	30-09-2021	30-06-2021	30-09-2020	30-09-2021	30-09-2020	31-03-2021
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
	1 Income
	I. Revenue From Operations	725.19	695.41	908.57	1,420.61	911.94	2,559.69
	II. Other Operating Income	38.01	67.19	63.24	105.20	117.29	194,47
	Total Income From Operations (1+11)	763.20	762.60	971.82	1,525.80	1,029.23	2,754.16
	2 Expenses a) Operational Expenses	332.00	308.99
	b) Cost Of Traded Goods Sold	16.75	46.73	310.63 29.65	640.99	349.18	1,008.00 101.51
	d) Employees benefits expense	45.72	93.79	88.35	63.48 139.51	35.88 157.11	369.78
	e) Finance costs	0.06	0.07	0.08	0.13	0.31	1.17
	f) Depreciation and amortisation expense	75.29	13.60	51.91	88.89	103.81	136.65
	g) Other expenses	65.45	47.10	50.08	112.55	76.08	700.28
	Total expenses	535.27	510.28	530.69	1,045.55	722.37	2,317.39
	3 Profit/ (Loss) From before Exceptional and	227.93	252.32	441.13	480.25	306.86	436.77
	Extraordinary Items and Tax (1-2)
	4 Exceptional items	-	-				-
	Profit/ (Loss) before Extraordinary Items and Tax (3-	227.93	252.32	441.13	-- 480.25	306.86	436.77
	5 4)					,
	6 Extraordinary Items	-	-
7	Profit/ (Loss) After Exceptional Item But Before Tax	227.93	252.32	441.13	-- 480.25	306.86	436.77
	(5-6) 8 Tax expense for the year
	a) Current tax
	b) Deferred tax	62.34 3.65	61.53 1.27	110.99 (10.07)	123.86 4.93	87.49 (10.07)	120.48 0.97
	9 Net Profit/ (Loss) for the period (7-8)	161.94	189.52	340.21	351.46	229.45	315.32
	10 Other Comrehensive Income						1.75
	11 Total Compherensive Income for the period	161.94	189.52	340.21	351.46	229.45	317.07
12	Paid-up Equity Share Capital-Face Value Rs. 10/-	1,018.03	1,018.03	248.30	1,018.03	248.30	1,018.03
	each
	13 Weighted Average No.of Shares for EPS** Earnings per Share in Rupees ('.10/- each) (Not	101.80	101.80	24.83	101.80	24.83	101.80
14	annualised)•
	a) Basic and diluted EPS	1.59	1.86	13.70	3.45	9.24	3.11
	b) Adjusted Basic and diluted EPS
		1.59	1.86	3.34	3.45	2.25	3.11

" EPS is not annualised for the quarter ended lune & September 30, 2021, quarter ended March 31, 2021 and quarter ended June & September 30, 2020. ** All the EPS has been calculated considering the issue of Bonus Share since inception of the period

1 The Figures for corresponding previous period have been regrouped / reclassified wherever necessary, to make them comparable.

2 The Standalone financial results have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (IND AS) prescribed under section 133 of the companies Act, 2013 as amended and other recognised accounting practices and policies to the extent possible. The standalone financial results for the quarter ended 30th September 2021, have been prepared in accordance with the recognition and measurement principles laid down in IND AS- 34 ""Interim Financial Reporting"".

3 The standalone financial results have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their respective meeting held on 11th November, 2021. Limited review under regulation 33 of the SEBI (Listing obligations and disclosure requirements) Regulations. 2015 has been carried out by the statutory auditors of the company. The auditors have expressed an unqualified opinion on the above results.

4 Unaudited Standalone Statement of Assets arid Liabilities as on 30th September, 2021

Amount in Rs. Lakhs
	As at	As at
Particulars	30-Sep-21	31-Mar-21
	In Rs	In Rs
	Unaudited	Audited
Assets
Non - current assets
(a) Property, Plant and Equipment
(I) Tangible Assets	788.32	140,41
(0) Intangible Assets	30.87	0.43
(iii) Capital Work in Progress	61.08	19.01
(b) Financials Assets
(i) Investments	19.94	24.94
(c) Other Non-Current Assets	115.17	460.17
(d) Deferred Tax Asset (Net)	46.14	51.07
Total non - current assets	1,061.51	696.01
Current assets	0.01	0.01
(a) Inventories	80.31	63.52
(b) Financial Assets
(i) Trade Receivables (ii) Cash & Bank Balances	1,827.07 13.39	1,424.90
(iil) Short Term Loans & Advances	1,533.69	63.69 2,123.59
(c) Other current assets	111.43	4.95
Total current assets	3,565.90	3,680.66
TOTAL ASSETS	4,627.41	4,376.67
Equity and liabilities
A. Equity
(a) Equity Share Capital	1,018.03	1,018.03
(b) Reserves & Surplus	3,114.03	2,966.18
Total Equity	4,132.06	3,984.21
Non current liabilities
(a) Financial Liability
(i) Other Financials Liabilities	42.12	67.77
(b) Other Non-Current liabilities
Total non - current liabilities	42.12	67.77
Current liabilities
(a)Financial liabilities
(I) Trade Payables	441.81	268.04
(b) Other Current Liabilities	(12.78)	35.46
(c) Short Term Provisions	24.21	21.19
Total current liabilities	453.23	324.69
TOTAL EqUITIES & LIABILITIES	4,627.41	4,376.67

	5 Unudited Standalone Cash Flow Statement for half year ended 30th September, 2021 : Amount in Rs. Lakhs
	For the half year ended 30.09.2021 Particulars Unaudited		For the half year ended 30.09.2020		For the year ended 31.03.2021
				Unaudited		Audited 1
	A) CASH FLOW FROM OPERATING ACTIVITIES Net profit before Tax & Extraordinary Items Adjustments for : Depreciation Interest & Finance Charges Income Interest & Finance Charges expenses Gain on measurement of defined benefit plan Provision for dimunition of Investment Loss on sale of investment & fixed assets Investments written off WDV of assets written off Operating profit before working capital changes Working Capital Changes : Changes in Inventories	480.25 88.89 (103.76) - (0.01) (16.79)	465.37	306.86 103.81 (116.84) - (0.00) 0.07 - (21.80)	293.91	436.77 136.65 (193.51) 2.34 (0.00) 0.57 470.96 16.16 (2.90)	869.95
	Changes in Payables Changes in Receivables Changes in Loans advances & deposits Other Assets Financial liabilities Non current liabilities Trade Payables Changes in Other Current Liabilities Provisions Changes in Current Assets Changes in other non current assets Changes in Other financial assets Cash generated from operations Direct Taxes (Income Tax) Income Tax of earlier years	(402.17) (106.47) (25.66) 173.77 (48.24) 3.02 - 344.99 123.86	(77.55)	(128.02) (294.93) (9.50) 119.41 89.44 6.40 (3.00) (23.10) 87.49	(265.11)	190.25 - 42.19 10.38 2.75 (50.10) 5.77 1.30 (376.65) 120.48	(177.02)
	NET CASH FLOW FROM OPERATING ACTIVITIES (A)		263.95		(58.69)		572.45
	8) CASH FLOW FROM INVESTING ACTIVITIES Purchase of Fixed Assets Bank Deposits Current/Non Current Investments Long term loans & advances Interest & Finance Chgs. Income Sale of Investment Profit /(Loss on sale of investment) Provision for diminution in value of Investment Receipts on account of the repayment of advances and loans given / (Advances and loans made)	(809.32) (0.01) 589.90 103.76 5.00 0.01		(3.75) 116.84 10.14 -		(48.81) (19.94) (618.59) 193.51 10.00 (0.57) 0.00
	NET CASH FLOW FROM INVESTING ACTIVITIES [B]		(110.65)		123		(484)1
	C) CASH FLOW FROM FINANCING ACTIVITIES Interest Expense Dividend Paid Dividend Distribution Tax	(203.61)		- (37.25)		(37.25)
	NET CASH FLOW FROM FINANCING ACTIVITIES [CL		(203.61)		(37)		(37.25).
	NET INCREASE/DECREASE IN CASH AND CASH OPENING BALANCE OF CASH AND CASH EQUIVALENTS		(50.30) 63.69		27.29 12.88		50.80 12.88
	CLOSING BALANCE OF CASH AND CASH EQUIVALENTS		13.39		40.18		63.69

• 6 The Company has two operating segments ie Educational Training & Development Activities and Business Support Activities, and their operations are within India
• 7 The Company has considered the possible effects that may result from pandemic relating to COVID 19 in the preparation of the unaudited standalone financial results including the recoverability of carrying amount of financial and non - financial assets. Consequently, performance of the quarter and half year is not comparable with the Quarter to Quarter and Half Year to previous Half Year.
• 8 The company had entered into an agreement to acquire a property for the commercial purposes and use of employees at a consideration of arourd Rs. 5,50,00,000/- (Rupees Five Crore Fifty Lakhs] situated at No. 247 (Old 247/0.3), City Survey No. 2803 And Sheet No. 34 Of Mouza - Sitabuldi, Situated At Mohan Nagar Kingsway, Nagpur . The company has paid the entire consideration of Rs. 5,50,00,000/. (Rupees Five crore fifty lacs ) for the purchase of aforesaid property, for which the sale deed is executed on 26th October 2021 and hence the amont is appearing under the head 'Advance for purchase of property' & is yet to be capitalised.
• 9 The company has entered into an asset purchase agreement with "Teaching tree solutions " a partnership firm engaged in the business of imparting virtual training to medical students. These purchased assets will be used by the company to venture into training of medical students of various institutes which is a new sector for the company.
• 10 The figure for the quarter ended september 30th 2021 are the balancing figure between the audited figures in respect of the full financial year and the published unaudited year to date figures upto the first quarter of the relevant financial year
• 11 The results of the company are also available on stock exchange website -www.nseindia.comand on the company website.

For and on behalf of the Board of Directors Global Education Limited

tp, \ -csvkay4cLu, Mr. Aditya Bhan arl Whole Time Director Nagpur, November 11 2021