Jaro Institute of Technology Management and Research Limited (JITMRL), as per its annual filings, is engaged in the business of providing education support services. The company was incorporated in 2009 and has its registered office located in Mumbai, Maharashtra.

Jaro Education, founded in 2009 by Dr. Sanjay Salunkhe, is an online higher education company, renowned for transforming the careers of over 3,50,000 professionals through its innovative programs. The company collaborates with prestigious institutions such as IIMs, IITs, and top global universities to offer a wide range of certification, degree, and executive education programs across various fields.

• Career Transformations: Over 3 lakh professionals in the last 15+ years
• Learning Centers: 23+ across India, Singapore, and the USA
• Program Offerings: More than 150+ management, technology, and techno-functional programs

Collaborations: Some of the top reputed institutes include: 

Indian Institutes:

• IIM Ahmedabad
• IIM Kozhikode
• IIT Madras Pravartak

Global Institutes:

• Massachusetts Institute of Technology – Institute for Data, Systems, and Society (MIT IDSS)
• The Wharton Interactive (Wharton Business School, University of Pennsylvania)
• Rotman School of Management (University of Toronto)

Programs Offered

Some of the popular programs and their affiliated institutes are given below:

Awards | Recognitions

• Leading EdTech Company of the Year (Times Business Award 2024)
• India’s Most Trusted Online Higher Education (Outlook Business Icon 2023)
• Edtech Leadership Award (World HRD Congress, March 2022)
• National Best Employer (World HRD Congress, March 2022)

Management

Dr Sanjay Salunkhe | Chairman & Managing Director

• Education: Doctorate in Change Management, MBA, and LLB from the University of Mumbai
• Experience: Founder of Jaro Education, Net HR, Jaro Fincap, and Jaro Toppscholars, with over 30 years in EdTech, HR, and Banking; recognized among the top 100 Most Trusted CEOs in India.
• Awards: Recipient of the Business Leader of the Year Award and Education Evangelists of India Award.

Ms Ranjita Raman | Chief Executive Officer (CEO)

• Education: MBA from IIM Ahmedabad
• Experience: Over 18 years in business strategy, growth, and executive learning development.
• Awards: Business Outlook “Dynamic Women Leaders” (2022), Business Leader of The Year (2021), Forbes India (2021), Woman Icon Awards (2020), Young Achiever Award (2015)

Financial Snapshot

All values are in INR Cr.

Particulars	FY24	FY23	Y-O-Y Growth
Revenue	203	125	63%
EBITDA	61	23	163%
PAT	42	12	263%
PAT Margin	21%	9%	123%

Key Takeaways: 

• Record Enrollments: Over 29,000 learners enrolled in FY24.
• FY 2024 showed a 63% y-o-y revenue growth and a 263% y-o-y PAT increase, driven by record enrollments, indicating strong operational efficiency and positive prospects.

Peer Comparison

All values are in INR Cr.

Particulars	Jaro Institute	Aptech	NIIT
Revenue	202.80	241.85	204.81
PAT	41.8	32.13	34.74
PAT Margin	20.61%	15.07%	26.75%
Current Market Price (27/08/24)	1000	234	168
MCap	2023	1359	2212
P/E	36.46	47.86	34.42
P/S	9.98	2.97	4.86
P/B	16.99	4.78	1.52

Key Takeaways:

• Strong profitability and growth potential, with higher PAT margins indicating efficient operations as reflected by a 160% increase in EBITDA or a premium product offering despite lower revenue.
• High P/B and P/S ratios reflect investor confidence in the company's ability to scale and capitalize on the rapidly growing Indian digital education market.

Industry Overview

• Market Growth: The Indian EdTech market reached $4.3 billion in 2022, growing at a CAGR of 16.8% from 2017 to 2022.
• Online Learning Impact: Massive Open Online Courses (MOOCs) grew from 300,000 learners in 2011 to 220 million in 2021. Hybrid and distance learning saw a 36% rise from 2012 to 2019, with a 92% increase during the COVID-19 pandemic.
• Global Trends: The Global Adaptive Learning Market, valued at $2.51 billion in 2021, is projected to reach $8.63 billion by 2030, with a CAGR of 22.6%. The application of AI in the education market is expected to grow from $1.10 billion in 2021 to $21.52 billion by 2028.