The Board of Directors at its meeting held today has approved and taken on record the unaudited consolidated financial results of Zee Learn Limited (ZLL) and its subsidiaries for the year ended March 31, 2020 and for the quarter ended March 31, 2020.

Commenting on the business performance, Mr. Vikash Kumar Kar, Executive Director and CEO, Zee Learn Limited said, “We are happy to announce our results for Q4FY20 and FY20. During the year we have seen good growth across all our business segments. Though the outbreak of COVID-19 in mid of March’20 marked an unprecedented disruption, the operating margins on the full year basis improved on the backdrop of strong performances during FY20. Despite significant challenges, Zee Learn team demonstrated the strength of its operating fundamentals by taking the torch of learning forward without disruption for its network that spans over 2000 centers in 800+ locations in the country. The fallout of COVID-19 has been very challenging for the education sector and the rapid transition from classroom to the virtual space was not easy, however, we have been successful in meeting the pedagogical and cognitive needs of our students from the safety of their homes, by delivering and executing the blended learning resources and digital content curated by our seasoned academic professionals. We remain highly focused on cash flows and liquidity management and are confident that our broad portfolio of products/services with our ability to execute our commitments would help us navigate through the current economic uncertainties.”

Commenting upon the financial performance, Mr. Rakesh Agarwal, CFO, Zee Learn Ltd., said “Despite the issues due to the currently prevailing conditions, we are happy that the Company has posted decent results for Q4FY20 and FY20 through excellent management of our resources, cash and with the support of our business partners.”


Financial Highlights: Zee Learn Limited Standalone

All figures in INR Cr	Quarter ended			Year ended
	31-Mar-20	31-Dec-19	QoQ Growth %	31-Mar-20	31-Mar-19	YoY Growth %
Particulars	Audited	Audited	Q4 v/s Q3 FY20	Audited	Audited	FY20 v/s FY19
Revenue from operations	51.51	34.88	47.68%	194.37	209.78	-7.34%
Other Income	6.44	6.63	-2.85%	23.93	16.84	42.12%
Total Revenue	57.95	41.51	39.60%	218.31	226.62	-3.67%
COGS / Operational Cost	11.86	3.58	231.72%	33.65	48.26	-30.28%
Employee benefits expense	7.68	7.26	5.78%	30.59	29.52	3.63%
Selling and marketing expenses	5.44	1.37	296.27%	12.61	16.76	-24.75%
Other expenses	3.86	4.42	-12.49%	17.07	21.65	-21.18%
Total expenses	28.84	16.62	73.52%	93.91	116.19	-19.17%
EBITDA	22.66	18.25	24.15%	100.46	93.59	7.34%
EBITDA %	44.00%	52.34%	-15.93%	51.68%	44.61%	15.85%
Finance Cost	6.03	6.22	-3.06%	24.52	19.97	22.77%
Depreciation and amortization exp	2.31	1.90	21.35%	8.72	3.77	131.20%
Profit before tax	20.77	16.76	23.88%	91.15	86.68	5.16%
Profit before tax %	40.32%	48.06%	-16.12%	46.90%	41.32%	13.49%
Tax	4.38	4.09	7.24%	22.53	24.99	-9.82%
Profit after tax	16.38	12.68	29.24%	68.62	61.70	11.22%
Profit after tax %	31.81%	36.35%	-12.48%	35.30%	29.41%	20.04%

Financial Highlights: Zee Learn Limited Consolidated

	Year ended
	31-Mar-20	31-Mar-19	YOY Growth %
Particulars	Audited	Audited	Yearly
Revenue from operations	514.83	517.25	-0.47%
Other Income	41.55	32.00	29.84%
Total Revenue	556.38	549.25	1.30%
COGS / Operational Cost	137.54	145.37	-5.39%
Employee benefits expense	141.38	139.81	1.12%
Selling and marketing expenses	19.10	27.19	-29.73%
Other expenses	48.41	47.17	2.65%
Total expenses	346.44	359.54	-3.64%
EBITDA	168.39	157.71	6.77%
EBITDA %	32.71%	30.49%	7.28%
Finance Cost	59.05	47.31	24.81%
Depreciation and amortization expenses	64.11	27.89	129.89%
Profit before tax and exceptional items	86.79	114.52	-24.21%
Profit before tax and exceptional items %	16.86%	22.14%	-23.86%
Less : Exceptional items	31.15	-
Profit before tax	55.64	114.52	-51.41%
Profit before tax %	10.81%	22.14%	-51.18%
Tax	30.53	31.14	-1.97%
Profit after tax	25.11	83.37	-69.88%
Profit after tax %	4.88%	16.12%	-69.74%

Key Business Indicators

	AY 2019-20 end	AY 2018-19 end	AY 2017-18 end
Pre K Schools	1967	1939	1831
K-12 Schools	139	130	124
Pre K Students/Day Care	1,38,044	1,37,863	1,27,922
K-12 Students	77,705	63,328	55,628

Key Financial Indicators (Standalone)

	12M FY20	12M FY19
Free Cash Flow (Rs. In Cr) (Includes WC changes & Regroupings)	191.17	21.17
EPS	2.10	1.89
EBIDTA %	52%	45%

	12 months end FY20	12 months end FY19
Net Bank Borrowings (Rs. In Cr)	101.84	166.35
Debt Equity Ratio	0.37	0.44

Key Financial Indicators (Consolidated)

	12M FY20	12M FY19
Free Cash Flow (Rs. In Cr) (Includes WC changes & Regroupings)	235.01	134.54
EPS (Rs.)	1.34	2.33
EBIDTA %	33%	30%

	12 months end FY20	12 months end FY19
Net Bank Borrowings (Rs. In Cr)	292.65	416.81
Debt Equity Ratio (excluding non-controlling interest)	0.78	1.00

Recent Recognitions for Zee Learn:

• Zee Learn awarded as the “Most Desired Brand in Education” under the Diversified category, Feb 2020
• Kidzee won the National Early Child playschool chain of the year award at the 10^th Annual Indian Education Award 2020, Feb 2020
• Zee Learn awarded Great Place to Work for the Financial Year Apr 2019 – Mar 2020
• ZIMA featured in the Academic Insight’s “Maharashtra’s top 20 Educational Institute” issue, 2019
• Mount Litera Zee School won Franchisor of the Year 2019 award by Franchise India
• Zee Learn recognized as Premier Franchise to Watch for in 2019 by Insights Success magazine, Oct 2019
• Zee Learn recognised for its Outstanding contribution to quality education in India by Business Vision Magazine, Nov 2019
• Kidzee wins the award for National Early Child Playschool Chain of the year 2019 by Franchise India
• MLZS wins the award for National K12 School Chain of the Year 2019 by Franchise India.
• Zee Learn wins the award for Dream Companies to work for in Education Sector 2019 by World HRD Congress
• Kidzee wins the award for Leading brand of the Year 2018 – Preschools by WCRC
• MLZS wins the award for Leading brand of the Year 2018 – Schools by WCRC
• Zee Learn has been awarded Franchisor of the year 2018 by Franchise India
• MLSI Awarded Great Place to Study by Forbes Marquee Magazine, Oct 2018
• MLZS Awarded Great Place to Study by Forbes Marquee Magazine, Oct 2018
• Luminosity - Learning Management System Portal for MLZS wins award by IDC Insight Awards, 2018
• Kidzee wins awards for Most Admired Preschool Brand 2018 – by White Page International