About the Company
Maharashtra Knowledge Corporation Limited (MKCL), founded in 2001 and headquartered in Pune, Maharashtra, operates with a primary focus on modernizing education and narrowing the Digital Divide. They offer a diverse array of educational and skill development courses like MS-CIT(Maharashtra State Certificate in Information Technology), WAVE, and KLIC through various learning modalities, including traditional classroom-based and web-based e-learning.
MKCL also provides software solutions for admissions, examinations, and recruitment through MKCL’s OASIS. With a mission to integrate Information Technology into education and socio-economic development, MKCL collaborates closely with government departments, aiming to extend its services and enhance accessibility to education and opportunities. Through its initiatives, MKCL plays a pivotal role in fostering digital literacy, advancing education, and empowering individuals and institutions towards socio-economic progress in Maharashtra and beyond.
| Company Name | Maharashtra Knowledge Corporation Limited |
| Company Type | Unlisted Public Company . Buy Maharashtra Knowledge Corporation Unlisted Shares. |
| Industry | Education |
| Founded | 2001 |
| Headquarters | Pune, Maharashtra, India |
| Website | https://www.mkcl.org/ |
Exploring MKCL’s Global Footprint
Operations in India
Maharashtra Knowledge Corporation Limited, headquartered at ICC Pune, boasts a robust operational network spanning across India and beyond. Led by the visionary Ms. Veena Kamath, the company has established a strong presence with over 5,000 Authorized Learning Centers registered in Maharashtra alone.
In India, MKCL’s pioneering efforts in IT education are evident through flagship courses such as MS-CIT (Maharashtra State Certificate in Information Technology) and MS-ACIT. Moreover, under the brand KLiC (Knowledge Lit Careers), MKCL offers a diverse range of vocational courses affiliated with YCMOU, including MKCL ERA (eLearning Revolution for All).
Additionally, Maharashtra Knowledge Corporation Limited has ventured into joint ventures with various state governments, leveraging its expertise and investing MKCL’s funds to secure 30% of the initial equity. Notable collaborative endeavors include Odisha Knowledge Corporation Limited (OKCL) and Haryana Knowledge Corporation Limited (HKCL).
Operations Abroad
Furthermore, Maharashtra Knowledge Corporation Limited has extended its reach beyond Indian borders, establishing joint ventures through its subsidiary, MKCL International FZE, based in Sharjah, UAE. MKCL Arabia Ltd., operating in Saudi Arabia with a branch in Egypt, and MKCL Lanka Ltd. in Sri Lanka are prominent examples of MKCL’s global presence and commitment to fostering educational excellence worldwide.
Innovation, collaboration, and a relentless pursuit of excellence define MKCL’s journey as a pioneering force in the realm of IT education, both domestically and internationally.
Vision
MKCL aims to develop world-class and value-based learning, governance, and empowerment systems that respond to the individual and social developmental needs of the people while bridging the Digital Divide.
Mission
- The objective is to offer life-long learning, governance, and empowerment services through appropriate partnerships to a vast and diverse population: Bigger.
- Ensuring high quality with relevance and applicability in life and work: Better.
- Making it affordable: Cheaper.
- Achieving delivery within the shortest possible time: Faster.
- Ensuring wide accessibility from metropolitan areas to villages: Wider.
- Providing a mass-personalized approach for a deeper personal experience, as it is essential for the survival, development, and empowerment of individuals, communities, and nations.
Transformative Agenda
- Bridging the Digital Divide: MKCL aims to close the gap between those with access to technology and information and those without, ensuring equal opportunities for all.
- Empowering Through Knowledge: Maharashtra Knowledge Corporation Limited believes in the potential of society, especially its youth, to transition towards knowledge-based economies and societies.
- Lifelong Learning Culture: A key focus is fostering a culture of continuous learning, supported by making knowledge accessible to everyone at affordable costs, facilitated by Information Technology.
- Transformative Role of IT: Information Technology is seen as a transformative tool, not only for disseminating knowledge but also for generating actionable resources.
- Addressing Socio-Economic Challenges: MKCL’s initiatives target education, governance, and empowerment, with a focus on scalability, quality, affordability, speed, accessibility, and personalization.
- Partnerships for Progress: MKCL collaborates through public-private-community partnerships to lay the groundwork for a knowledge society, essential for the empowerment and development of individuals, particularly the youth.
Management of the Company
Dr. Anil Kakodkar: CHAIRMAN
Dr. Anil Kakodkar, born on November 11, 1943, had a distinguished career at the Bhabha Atomic Research Centre (BARC), eventually serving as its Director. He later became Chairman of the Atomic Energy Commission and Secretary to the Government of India, Department of Atomic Energy. Dr. Kakodkar played a crucial role in advancing India’s nuclear program, overseeing successful nuclear tests, and promoting technologies for societal development. He established institutes like NISER and contributed to education and technology policies. Dr. Kakodkar’s focus now lies on energy, education, and rural development initiatives. Throughout his career, he has received numerous awards and honors, including Padma awards and state honors from Maharashtra, Goa, and Madhya Pradesh.
Ms. Veena Kamath: MANAGING DIRECTOR
Ms. Veena Kamath, an Economics graduate from Mumbai University who later pursued an MBA in Finance in the USA, embarked on her career at the University of Alaska before relocating to India. At MKCL, she held various roles across HR, business development, and partnership building, contributing to significant achievements such as making over 1.5 crore people IT literate. Ms. Kamath facilitated MKCL in obtaining prestigious certifications and served as a Director on the boards of several knowledge corporations. Inspired by MKCL’s mission, she attributes her success to her dedicated colleagues.
Ms. Komal Chaubal: CHIEF EXECUTIVE OFFICER, COMPANY SECRETARY, CHIEF LEGAL OFFICER & INFORMATION OFFICER
Born in Mumbai on August 31, 1971, Komal Chaubal has over two decades of experience in Corporate Matters, including Governance, Administration, and Legal affairs. She started her career at Praj Industries Ltd. before joining Maharashtra Knowledge Corporation Ltd. (MKCL) as a Company Secretary in 2003. In November 2019, she was appointed as the Company Secretary and Chief Executive Officer (CEO), entrusted with overseeing various managerial and administrative functions, including Corporate Governance, Human Resources, Infrastructure Management, Procurement, Financial Management, and Customer Relationship Management.
Product
- ENABLING PROGRAMS: A set of initiatives designed to create conducive environments, establish connections, provide infrastructure, and offer technological and managerial support to bolster the success and sustainability of core business programs. While they do not directly engage in business activities, these programs play a crucial role in enabling and enhancing other business initiatives by laying the groundwork for their implementation and growth.
- Enabling Programs aim to establish supportive environments and linkages, providing essential infrastructural facilities and managerial support to facilitate the implementation and sustainability of core business programs.
- These programs function as facilitators rather than directly engaging in business operations, focusing on enabling and enhancing the effectiveness of other business initiatives.
- Key Enabling Programs include the Corporate Management Program (CMP), IT Infrastructure Development and Management Program (IT InfraDMP), Learning Innovations Program (LIP), Artistic Creations Program (ACP), and Network Partnerships Management Program (NP-MP).
2. BUSINESS DEVELOPMENT PROGRAMS: Encompass a diverse array of initiatives geared towards fostering growth, innovation, and sustainability across various sectors. These programs are designed to address specific needs and opportunities within industries, aiming to enhance skills, drive economic development, and promote community empowerment. Each program within this framework targets distinct objectives and employs tailored strategies to facilitate business expansion and socio-economic progress.
- Business Development Programs are multifaceted initiatives focused on fostering growth, innovation, and sustainability across diverse sectors.
- These programs aim to address specific needs and opportunities within industries, driving economic development and promoting community empowerment.
- Key programs include the Knowledge Lit Careers Development Program (KLC-DP), Mission-Mode Skill Development Program (MM-SDP), Higher Education Transformation Program (HETP), eGovernance Business Development Program (eGov-BDP), International Business Development Program (I-BDP), Products in the New Exponential Technologies Business Development Program (ProNExT), and Community Development and eEmpowerment Program (CDEP).
Highlights
| 5,000+ Learning Centers | A strong network of Authorized Learning Centers (ALCs) all over Maharashtra |
| 1+ Crores University Students | Number of students who have benefited from Educational E-Governance services on MKCL’s software |
| 1.5+ Crores Learners | Digital empowerment of common people through MS-CIT course |
| 25,000+ Trainers | Employed through MKCL’s inclusive and sustainable network partner program |
| 4,000+ Affiliated Colleges | Number of colleges and study centers getting various e-services under MKCL’s Digital University Software Framework |
| 75,000+ Computers | Network of Computer systems in learning centers, delivering eLearning content |
Business Development Program wise Revenue from Operations
The business development program’s revenue from operations is allocated across several key initiatives aimed at driving growth and development within specific sectors. These initiatives include:
- eGov: 2%
- Higher Education Transformation Program (HETP): 8%
- Mission Mode Skills Development Program (MMS-DP): 22%
- Knowledge-Lit Career Development Program (KLC-DP): 67%
- Others: 1%
While eGov and HETP focus on governance and education, MMS-DP addresses skill gaps, and KLC-DP prioritizes career development. Despite MMS-DP showing a negative percentage, it signals an investment in future returns. KLC-DP commands the highest share, reflecting a strong commitment to nurturing talent and fostering expertise. Overall, these initiatives contribute to the organization’s strategic goals for growth and societal advancement.
MKCL Subsidiaries and Joint Ventures
| Subsidiary / Joint Venture | Type | Ownership | Description |
| MKCL Knowledge Foundation | Wholly Owned Subsidiary | 100% | Established by the company for social objectives. |
| Odisha Knowledge Corporation Limited (OKCL) | Joint Venture | 50% | The company holds 6,00,000 equity shares (50% of total shareholding) of Rs. 10/- each in the paid-up share capital of OKCL. |
| Haryana Knowledge Corporation Limited (HKCL) | Joint Venture | 30% | The company holds 6,00,000 equity shares (30% of total shareholding) of Rs. 10/- each in the paid-up share capital of HKCL. |
| MKCL Arabia Limited | Foreign Joint Venture | 50% | The company acquired 500 shares (50% of total shareholding) at a face value of 1000 Saudi Riyal per share from its 100% foreign subsidiary, MKCL International FZE, Sharjah, which was dissolved. |
Equity Profile
| Equity Holder | Ownership Percentage |
| Government of Maharashtra | 37.13% |
| Ten Public Universities in Maharashtra | 33.91% |
| Autonomous bodies, educational institutions, training centers, social organizations, SMEs, individuals, etc. | 28.96% |
Dividend Declaration
MKCL has declared a final dividend of Rs. 2 per equity share of Rs. 10 each, amounting to a generous 20%. This decision was made during the 22nd Annual General Meeting and reflects the company’s commitment to delivering value to its investors.
Industry Overview
The e-learning industry in India is on the brink of substantial expansion in the coming years, with projections indicating a rise to INR 312.13 billion by 2026, boasting a Compound Annual Growth Rate (CAGR) of 12% between 2024 and 2032. In particular, the segment focusing on primary and secondary education is anticipated to reach INR 93.23 billion by 2026, exhibiting a CAGR of 11.36%. Similarly, the higher education sector is forecasted to attain INR 20.94 billion by 2026, with a CAGR of 10.08%. Expectations also point towards the integration of advanced technologies such as augmented reality (AR) and virtual reality (VR) within e-learning platforms to enhance the educational experience and replicate a traditional classroom environment.
This technological progression has the potential to redefine the dynamics of interaction between students, educators, and parents. However, the successful implementation of these sophisticated tools will necessitate significant investments in infrastructure, training, and content development. Additionally, challenges concerning accessibility, affordability, and internet connectivity, particularly in rural and underserved regions, may arise. Despite these hurdles, the e-learning sector in India is poised for a promising future, characterized by robust growth and transformative technological innovations.
Peer Comparison
| Particulars | MKCL | Zee Learn Ltd. | ApTech Ltd. |
| Revenue | 203.08 | 344 | 104 |
| Profit After Tax | 51.18 | -462 | 6.75 |
| Earning Per Share | 63.35 | -8.94 | 10.28 |
| P/E Ratio | 6.47 | – | 23.41 |
| P/B Ratio | 0.78 | 25.42 | 5.55 |
| Market Capital | 331.28 | 301 | 1450 |
News
MKCL Expanded Global Reach Through Partnership with King Saud University
In 2019, MKCL partnered with King Saud University in Riyadh, Saudi Arabia, after successfully running the Maharashtra State Certificate in Information Technology course for 18 years. MKCL’s expertise led to the formation of MKCL Arabia Ltd. They were also tasked with conducting online exams, attracting 20,000 learners from 130 countries.
MKCL Share Price (as of 14.03.2024)
- The buy price of MKCL varies based on quantity, ranging from 455 for quantities between 25-50 shares to 440 for quantities between 601 -1000 shares, with corresponding rates per share.
- The 52-week high is 540, and the 52-week low is 343 indicating the range of fluctuations in the share price. Additionally, the sell price of MKCL is fixed at 350.
Currently, MKCL Share Price is trading at around Rs. 450/share. CLICK HERE to Invest.
Valuation
| Valuation | 14th March, 2024 |
| Share Price | 440 |
| Outstanding shares | 80,80,195 |
| MCAP | 355.53 |
| P/E Ratio | 6.95 |
| P/S Ratio | 2 |
| P/B Ratio | 0.68 |
Financials
₹ (in crores)
| Particulars | FY 2022-2023 | FY 2021-2022 | FY 2020-2021 | CAGR (2 years) |
| Revenue | 203.08 | 120.17 | 68.37 | 72.34% |
| Profit after tax | 51.18 | 37.79 | 19.14 | 63.52% |
| EBITDA | 67.24 | 43.94 | 21.85 | 75.42% |
| Earning Per Share | 63.35 | 46.77 | 23.70 | – |
In FY 2022-23, the company experienced remarkable growth in revenue and profits. Total income surged with a 2-year CAGR of 72.34%, driven by a substantial increase in revenue from operations. This growth was fueled by rising learner counts in key programs such as MS-CIT (Maharashtra State Certificate in Information Technology) which is a part of the MS-CIT program and BSDM-KYP (Bihar Skill Development Mission- Kushal Yuva Program) which is a part of MMS-DP program.
Despite a slight decline in other income due to factors like non-receipt of dividends from foreign joint ventures, the company faced higher expenses, primarily attributed to the resumption of physical operations post-pandemic and nationwide expansion efforts. However, profits after tax (PAT) saw a substantial increase, with a 2-year CAGR of 63.52%, reflecting the company’s robust financial performance. This surge in profitability was largely due to the significant rise in revenue. Moreover, the company recognized and rewarded its network partners with various awards and incentives, further stimulating growth and performance.
Conclusion (1/2)
- Education Focus: MKCL is dedicated to revolutionizing education through the integration of technology. It aims to make education more accessible and effective by leveraging digital platforms and tools. By offering a wide range of courses, MKCL caters to learners across different age groups and educational backgrounds.
- Offerings: MKCL provides diverse educational programs and skill development courses designed to meet the needs of students, professionals, and lifelong learners. These courses cover a wide range of subjects, including computer literacy, vocational training, language skills, and professional development.
- OASIS Platform: MKCL’s flagship product, the OASIS platform, serves as a comprehensive software solution for educational institutions. It offers features for online learning, administration, assessment, and collaboration, empowering institutions to deliver quality education in a digital environment.
- Government Collaboration: MKCL collaborates closely with government departments at the state and national levels to extend its services and initiatives. By partnering with government agencies, MKCL aims to reach a wider audience and address the educational needs of various communities.
- International Presence: MKCL has expanded its operations beyond India through strategic partnerships and joint ventures in countries like Saudi Arabia and Sri Lanka. This international presence enables MKCL to share its expertise in education technology and contribute to global initiatives for digital empowerment.
Conclusion (2/2)
- Leadership: MKCL is led by visionary figures such as Dr. Anil Kakodkar, a renowned scientist, and Ms. Veena Kamath, an experienced professional in the field of education. Under their guidance, MKCL continues to drive innovation and excellence in the education sector.
- Agenda: MKCL’s agenda revolves around the principles of digital empowerment, lifelong learning, and addressing socio-economic challenges through education. By empowering individuals with knowledge and skills, MKCL aims to create a more inclusive and prosperous society.
- Peers: MKCL operates in the education technology sector, competing with other players offering similar products and services. Peers may include companies like BYJU’S, Unacademy, Vedantu, UpGrad, and other edtech startups like Zee Learn Limited and Aptech Limited in India.
- Financial Performance: In FY 2022-23, the company saw strong revenue and profit growth driven by increased learner counts in key programs like MS-CIT and BSDM-KYP. Total income grew at a CAGR of 61.12%, with PAT increasing by 63.52%. Higher expenses from post-pandemic operations and expansion efforts were offset by revenue growth.
- Share Price: As of 14th March 2024, the buy price of MKCL varies from 455 for quantities of 25-50 shares to 440 for quantities of 601-1000 shares. The 52-week high is 540, and the low is 343, indicating the share price range. The sell price of MKCL is fixed at 350. Track MKCL’s share price at: https://altiusinvestech.com/company/mkcl-buy-sell-unlisted-shares
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