Organised play in unorganised industry… MT Educare :: ICICI Securities, link

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Organised play in unorganised industry…
We met Yagnesh Sanghrajka, CFO, MT Educare, to understand the
company’s business model and future prospects. The company was
started as “Mahesh Tutorials” by current founder and CEO, Mahesh
Shetty, in 1988, and focused on school coaching in Mumbai. Over the
years, the company has widened its geographical presence – expanded
to other states such as Karnataka, Andhra Pradesh, Gujarat, Punjab,
Haryana, Delhi, Tamil Nadu – and business segments (school - 44% of
revenues, science - 25%, commerce - 18%, MBA, Robomate products) by
bringing pan-India curriculum experts under MT’s umbrella. Growth
momentum was helped by a combination of organic growth (opening of
Mangalore pre-university, PU, campus to offer XI, XII and engineering
coaching), and acquisitions such as Chitale Personalised Learning Centre
(2011, MBA coaching, Mumbai), Lakshya (FY13, Advanced IIT,
Chandigarh) and Sri Gayatri Education Society (FY14, engineering, AP)

LINK
http://content.icicidirect.com/mailimages/IDirect_MTEducare_MgmtNote.pdf