Think and Learn Private Limited is a Listed Company. Its Corporate Identification Number is U80903KA2011PTC061427. Its registered office address is IBC Knowledge Park 4/1, 2nd Floor, Tower D Bannerghatta Main Road.
India’s most-valued edtech startup, Byju’s, has received an unqualified report from the auditor. The news comes days after the Bengaluru-based firm called off negotiations with lenders to restructure a $1.2 billion loan.
Company Profile
Think & Learn Private Limited operates an online learning platform. The Company offers original content, watch-and-learn videos, animations, and interactive simulations to create a personalized educational experience. Think & Learn serves students worldwide.
The Company offers a suite of products for K-12 education, CAT and other MBA entrance examinations, engineering and Indian Administrative Service (IAS) entrance exams, GMAT, and research and development. The Company also provides teaching aids and tools.
As of March 20, 2022, Think & Learn had a market capitalization of US$22 billion. The Company has more than 130 million registered students worldwide. In the last five years, the Company has grown at a rapid pace. Its revenue has increased at a CAGR of over 40%.
Think & Learn is also in the process of expanding its presence overseas. It has already made two acquisitions in the United States this year. In addition, the Company is in talks to acquire an additional US-based tech company.
The Company was founded in 2011 and is headquartered in Bangalore, India. The Company’s shares are listed on the BSE and the NSE.
A few months ago, the ED conducted searches and seizures in three premises of Byju’s parent company, Think & Learn Pvt Ltd. The action was taken in connection with alleged violations of the Foreign Exchange Management Act of 1999. The Directorate has also issued a notice to the company requesting it to pay taxes in a timely manner and to comply with other regulatory requirements.
In addition to this, the company has reportedly been delaying filing financial results with the ROC. This could be due to a dispute with the auditor. As per reports, Deloitte Haskins & Sells Llp has resigned as the auditor of Think and Learn, citing conflicts of interest. The resignation highlights a flaw in the current audit regulation that only covers statutory auditors of listed companies, banks, insurance companies, power utilities, and large unlisted public limited companies, but not smaller private limited companies.
As of April 5, 2021, Blackstone Group held a 9.67 percent stake in the tech firm, valuing it at about $13 billion. Shardul Amarchand Mangaldas acted as the company’s legal advisers, while Transaction Square and Phoenix Advisers acted as financial and tax advisors, respectively.
Financial Statements
Think and Learn Private Limited is a Private Company incorporated on 30 November 2011. Its registered office is located at IBC Knowledge Park, 4/1, 2nd Floor, Tower D Bannerghatta Main Road, Bangalore, Karnataka. Its CIN is U80903KA2011PTC061427. The directors of the company are Byju Raveendran, Divya Gokulnath, and Riju Ravindran. The company is involved in the education technology business. The company provides educational content and teaching aids for students. It also offers preparations for entrance exams and competitive examinations, such as the Common Admission Test (CAT), Indian Administrative Service (IAS), and Civil Services Examinations. Its products include computer tablets and tools.
The financial statements of Think and Learn Private Limited are audited by an independent auditor, Deloitte Haskins & Sells. The company’s annual reports are published annually. In addition, the company’s quarterly results are reported to the shareholders. These quarterly earnings are based on actual data and estimates, as well as market assumptions and projections. The company’s financial statements are also subject to periodic revisions.
In 2021, the company acquired the online learning platform Aakash Institute from its founders and Blackstone Group for $950 million in cash and stock. The deal valued the company at $13 billion. An investment from the Blackstone Group, Sumeru Ventures, Vitruvian Partners, and BlackRock backed the transaction. Phoenix Advisers and Ernst & Young were the advisors to Aakash Institute.
The company has been facing pressure from its lenders to restructure its debt amid concerns about Byju’s declining profit and rising liabilities. Its tech platform has been growing at more than twice the pace of its core business. Its revenues increased by 2.3 times to Rs 3,569 crore in FY22, but the company’s EBITDA loss declined from -155 % to -63% year-on-year.
The company is currently in talks to acquire American edtech firm Chegg, which would increase its presence in the US. The acquisition will give Byju’s access to the world’s largest student community. It also boosts the company’s revenue and EBITDA, reducing its reliance on tuition fee income. However, the slow economy may hamper growth in the future.
Management Team
Think and Learn Private Limited operates as an educational technology (Edu-tech) company. The Company provides education content, teaching aids, and tools for students from 4th to 12th grade, as well as for various competitive and entrance examinations such as the Common Admission Test (CAT), Master of Business Administration (MBA) and other management entrance examinations, Common Entrance Test (CET), Indian Administrative Service (IAS) and other civil service examinations, Graduate Record Examination (GRE), and GMAT. Think and Learn offers its products online and in traditional classrooms.
The Company provides various courses in the areas of language learning, science, and mathematics, as well as specialized programs for high school students. Think and Learn also provides training services for corporate clients.
As of March 2022, the company had over 1,100 employees. Its headquarters are located in Bangalore, India. It has several offices across the country. In addition to its primary markets, the Company offers courses in the United States, Australia, and China.
Byju Raveendran, the founder and CEO of ed-tech giant Byju’s, has made a personal investment of $400 million in the firm. The move is part of an $800 million round that includes investments from BlackRock, Sumeru Ventures, and Vitruvian Partners. The funding will help Byju scale up its operations and expand its presence in new markets.
India’s highest-valued tech startup, Byju’s, has received an unqualified report from auditors, putting to rest speculations about the firm’s financial health. The audited results are expected to be shared with the debt and equity investors next week.
Byju has a strong team of experienced leaders. Its CEO, Byju Raveendran, has a long track record of success in the technology sector. His expertise and knowledge of the industry have helped him build a company that has earned the trust of millions of customers.
The company’s board of directors consists of five members. Its executive committee consists of three members, including the chairman and chief executive officer. Its shareholders are composed of both institutional and individual investors. The company has a market capitalization of $22 billion, and its revenue is proliferating. Its earnings per share are expected to increase significantly over the next few years.
Company History
Think and Learn Pvt Ltd is engaged in the educational technology (Edu-tech) segment of the business. It offers teaching aids, content, and tools for students from class 4th to class 12th. It also provides education services for various competitive and entrance examinations such as the Common Admission Test (CAT) and other Master of Business Administrative (MBA) entrance exams, Common Entrance Test (CET) and other engineering entrance exams, Indian Administration Service (IAS) and other civil service examinations, Graduate Record Examination (GRE), and Graduate Management Admission Test (GMAT). The company was incorporated on 30 November 2011. It is registered with the Registrar of Companies – Bangalore.
The company’s directors are Byju Raveendran and Divya Gokulnath. The company has a current market cap of US$22.3 billion. The company has increased in recent years and has become a popular choice among investors. However, the slow economy may affect the company’s revenue in the future.
Recently, Byju’s has been under scrutiny after the company missed a $40 million interest payment. The company has now completed a long-awaited audit of all its group units and is expected to incorporate the results into its consolidated financials this week.
It has also announced that it will acquire American edtech firm 2U for US$2.4 billion. The deal is expected to boost Byju’s global presence and expand its leadership team. In addition, the acquisition will help the company to diversify its product portfolio and strengthen its revenue base.
The company is also looking at potential acquisitions of a number of other online education businesses. These deals will help it expand its reach across the country and improve its operational efficiency. The company is a popular choice for investors due to its solid financials and growing revenues.
Investors should keep a close eye on the company’s earnings reports, as these will have an impact on the share price. If the company fails to meet expectations, the stock price will likely decline. However, if the company delivers better-than-expected earnings, its shares could rise significantly.
