Ironwood Education Ltd Management Discussions

Education Industry

India has the largest population in the world in the age bracket of 5-24 years with 580 million people, presenting a huge opportunity in the education sector. India is aiming to become a global education hub by aligning its institutions with 21st-century demands and promoting global collaborations. India holds a prominent place in the global education industry. India has one of the largest networks of higher education institutions in the world. However, there is still a lot of potential for further development and improvement in the education system. With increasing awareness, private Indian players are collaborating with international brands to provide an international standard of education. The demand for specialised degrees is also picking up with more students opting for specific industry-focused qualifications.

The Indian edtech market size is expected to reach US$ 30 billion by 2031, from US$ 700-800 million in 2021. According to KPMG, India has also become the second largest market for E-learning after the US. (Sources: India Brand Equity Foundation).

Union Minister for Education, Mr. Dharmendra Pradhan, announced the establishment of three Artificial intelligence Centres of Excellence (CoE) in New Delhi, focusing on Healthcare, Agriculture, and Sustainable Cities. These CoEs, aimed at realizing the vision of "Viksit Bharat," will be led by leading educational institutions in collaboration with industry partners and startups. Artificial intelligence (AI) is playing an increasingly important role, with the establishment of an AI Centre of Excellence in Education. AI is being used to personalize learning, improve teaching methodologies, and enhance career guidance programs.

The Union Cabinet, led by Prime Minister Mr. Narendra Modi, has approved the PM Vidyalaxmi scheme, aimed at providing financial support to meritorious students to ensure that financial constraints do not hinder their pursuit of higher education. This initiative aligns with the recommendations of the National Education Policy, 2020. He expressed his vision for India to become a global hub for knowledge and education.

The government has implemented policies like the National Education Policy (NEP), such as Samagra Shiksha Abiyan, DIKSHA, and PM SHRI, aimed at improving overall educational outcomes. These initiatives are designed to ensure that no child is left behind, whether in terms of access, quality or infrastructure. (Sources: Business and Economy News).

NEP which will be fully implemented over the course of this decade starting from 2021-22 and will have a strong focus on high-quality vocational education. The government is also increasing its investment in education, with a record allocation in the recent budget. According to the Union Budget 2025-26, the government allocated Rs. 78,572 crore (US$ 8.99 billion) for the Department of School Education and Literacy in FY26, an increase of 16.28% compared with the revised Union Budget 2024-25. The government has allocated 50,077.95 crore (US$ 5.73 billion) to Department of Higher Education in FY26 an increase of 5.16% from previous year. The Union Budget 2025-26 allocates Rs. 500 crore (US$ 57.57 million) for a Centre of Excellence in AI for Education, aiming to enhance skills, personalize learning, and transform education.

Theres a growing focus on equipping students with practical skills for the future workforce, including vocational training and apprenticeship programs. The government is investing in various schemes to improve access to education, teacher training, and infrastructure development.

Overall, the Indian education sector is poised for significant and transformation in 2025, driven by technological advancements, government initiatives, and a focus on building a globally competitive and skilled workforce.

The Economic Survey for 2024-25, tabled by Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, is a bold roadmap for Indias future. With a sharp focus on education and human capital development, the survey in not just a set of statistics and targets, its a reflection of Indias vision to become a global knowledge powerhouse by investing in its most precious asset its people. From school to universities, from digital literacy to skill education, the countrys education system is evolving rapidly, making strides towards inclusivity, quality and access. With human resources increasingly gaining significance in the overall development of the country, the development of the countrys education infrastructure is expected to remain the key focus in the current decade. In this scenario, infrastructure investment in the education sector is likely to see a considerable increase. The higher education landscape is shifting dramatically, with micro-credentials emerging as a game-changing solution for the growing demand for specialized skills. Indias higher education system is at a pivotal juncture, balancing its rich traditions with the imperative to innovate for a fast-changing world.

As we move into 2025, the sector is set to evolve through the adoption of cutting-edge technologies, global collaborations, and a renewed focus on employability. However, achieving these goals will require not just policy reforms but systemic shifts in how education is delivered, funded, and aligned with future needs.

With increasing awareness, private Indian players are collaborating with international brands to provide an international standard of education. Private investments in the Indian education sector have increased substantially over the past two decades. The demand for specialized degrees is also picking up with more and more students opting for specific industry-focused qualifications. Higher education institutes in India are focusing on creating online programs due to the increasing demand from consumers.

Vocational Training in India

The National Education Policy 2020 proposes the revision and revamping of all aspects of education, including the educational structure, regulations and governance, to create a new system which is aligned with the aspirational goals of 21st century students. According to the policy, by 2025, at least 50% of learners through the school and higher education system shall have exposure to vocational education, for which a clear action plan with targets and timelines are to be developed. The policy aims to overcome the social status hierarchy associated with vocational education and integration of vocational education into mainstream education in all educational institutions in a phased manner. Beginning with vocational exposure at early ages in middle and secondary school, quality vocational education will be integrated smoothly into school and higher education. Every child will learn at least one vocation and is exposed to several more. This would lead to emphasizing the dignity of labour and importance of various vocations involving Indian arts and artisanship. Higher education institutions will offer vocational education either on their own or in partnership with industry and other institutions. The goal is to equip students with practical skills for employment and self-reliance, aligning with the vision of a "Viksit Bharat" (developed India). (Sources: www.education.gov.in)

Vocational training has rapidly emerged as a significant education, addressing the rising demand for skilled labour across various industries. Unlike traditional academic programs, vocational training equips learners with practical, industry-specific skills that enable them to meet market requirements efficiently. With globalization and technological advancements driving economic shifts, vocational training has witnessed increased investments from both public and private sectors.

Furthermore, the growing gig economy and entrepreneurial ventures have prompted governments and institutions to offer customized training modules that cater to the unique skill demands of these emerging markets. According to recent industry reports, the vocational training market is projected to grow significantly, as more countries recognize the importance of workforce readiness in their economic strategies. The growth in the vocational training growth market is driven by several factors, including technological advancements, evolving workforce demands, and government initiatives. Additionally, increasing unemployment rates and labor shortages in specific sectors have pushed governments and organizations to invest heavily in workforce training programs.

The expansion of smart cities and digital infrastructure has also necessitated skilled labor, further boosting the vocational training market. In emerging economies, investments in education reform and skill development initiatives have created opportunities for vocational training providers. Finally, the shift toward a knowledge-based economy, where skills and technical expertise are more valuable than traditional qualifications, accelerated market growth. As companies emphasize employee skills to maintain competitiveness, the demand for comprehensive vocational training programs is set to rise. (Sources: ResearchAndMarkets.com) The future of vocational education in India looks promising, with a greater focus on emerging technologies, digital learning, industry-academia collaboration, and entrepreneurship. The governments initiatives such as the Skill India Mission, along with the efforts of private sector players, are likely to create a robust and dynamic vocational education system that would meet the needs of learners, industry, and the economy. Quality of vocational education training (VET) is to be enhanced by identifying, designing and development of vocational courses that meet the common norms and skills standards identified at the national level. Accreditation of vocational courses and registration of providers would also enhance the quality and sustainability of the VET programmes and it should include the process of selection and recruitment of teachers, the selection of students, the course delivery, assessment and awarding qualifications to students.

The administration and management of the VET system as a whole and provision of student support services would require a strong system of capacity development of the stakeholders at all levels i.e. National, State, District and Institutional levels. Best practices in vocational education and training with focus on specific criteria which can be replicated in different institutions in the relevant areas need to be identified and shared at various levels to promote effectiveness in pedagogical and other aspects of implementation of VET.

We are one of the very few companies providing integrated vocational training in media, entertainment and sports sectors in India and Dubai. Our Company attempts to bridge the widening gap between academia and industry requirements by catering to the students base at vocational level and making them industry ready. The mission of the Company is to create a global conglomerate that sets new standards of excellence in Education, Entertainment, Media and Sports to groom future leaders of the industry.

Media and Entertainment (M&E) Industry and Developments

The landscape of the Indian Media and Entertainment (M&E) sector has undergone a significant transformation, with digital media finally breaking televisions 20-year stronghold to become the largest segment in the industry. This historic milestone marks the dawn of a new era, one where digital platform redefine not only the creation, distribution, and monetization of content but also the very core of what the M&E sector represents. The Indian Media and Entertainment (M&E) industry is a sunrise sector for the economy and is making significant strides is on an impressive growth path. The increasing availability of fast and cheap internet, rising incomes, digital adoption and increasing purchases of consumer durables have significantly aided the industry. Indias media sector in global and entertainment industry are unique as compared to other markets. The industry is well known for its extremely high volumes and rising Average Revenue Per User (ARPU).

In the past, M&E was synonymous with providing knowledge and a means of escapism. Today, it has evolved into a multifaceted provider of value, catering to the diverse needs of consumers through four key tenets: information, escapism, materialism, and self-actualization. This comprehensive approach has become the new benchmark for media and content companies, as consumers increasingly evaluate the utility they receive across these dimensions.

Looking ahead, the Indian Media and Entertainment sector is poised for significant developments. The combination of strategic alliances, and industry consolidation will play a critical role in determining its future direction. (Sources: EY) The Indian M&E sector is experiencing strong growth, driven by digital adoption and a surge in content consumption, with projections indicating a significant increase in market size and revenue the rise of digital media, especially online gaming and OTT platforms, and increased spending on advertising, particularly in digital formats.

The Indian M&E sector is projected to reach 3.08 trillion (US$37.2 billion) by 2026, with a 10% CAGR, according to IBEF. PwC India forecasts the sector to reach INR 412656 Cr by 2025 at a 10.75% CAGR. New media, including digital media and online gaming, grew 12% and now make up 41% of the M&E sectors revenues.

The Indian M&E sector is poised for continued growth, driven by technological advancements, changing consumer behaviour, and supportive government policies. However, navigating the challenges and adapting to the evolving landscape will be crucial for sustained success. Generative

Artificial Intelligence and other technologies are expected to play a key role in shaping the future of media and entertainment. The Indian M&E sector needs to compete with global players in the rapidly evolving media landscape. The Government of India has increased the FDI limit from 74% to 100%. Proving its resilience to the world, Indian M&E industry is on the cusp of a strong phase of growth, backed by rising consumer demand and improving advertising revenue.

In the long run, growth is the M&E industry is expected in retail advertisement on the back of several players entering the food and beverages segment, E-commerce gaining more popularity in the country, and domestic companies testing out the waters. Indias rural regions are expected to be the next regions for growth.

India has also gotten on board with 5G and is already planning for 6G well ahead of the future. This push towards digital adoption especially in the rural regions will provide advertisers and publishers with an immense opportunity to capture untapped markets and help grow Indias media and entertainment industry forward. (Sources: India Brand Equity Foundation) The Government of Indias thrust on improving digital infrastructure in the country combined with our ambition to be at the forefront of the next big technological thrust in media and entertainment, our sector is primed for a massive transformation.

Event Industry

India is recognized for its cultural diversity and celebrations, be it professional or personal. Festivals and events play an important role in peoples lives in India; there is often some special occasion to celebrate, which presents a great opportunity for event management industry in the country. Event management is the process of planning, organizing and executing events on behalf of clients in a focused and efficient manner. It involves several tasks that range from logistics to finance, while ensuring a seamless experience for clients and their guests. This industry is diverse and can be classified in multiple subgroups, such as Meetings, Incentives,

Conferences and Exhibitions (MICE), as well as educational, corporate, music and entertainment, political, and social events. This industry significantly contributes towards employment as it hires over 10 million people directly and 50 million indirectly.

The rising popularity suggest that people are willing to shift from traditional ways of managing events by themselves to invest in hiring event managers. The event management industry in India is attracting foreign investment as the number of international events held in the country, such as, conferences, exhibitions and live music events, increased. The industry also receives support from the Government of Indias initiatives such as hosting meeting and events during the G20 presidency as well as from ministry of tourism initiatives in promoting MICE.

The Indian event management industry is experiencing strong growth, with the market size estimated to reach USD 5.66 billion in 2025, according to Mordor Intelligence. The industry is projected to grow at a compound innovative business models, annual growth rate (CAGR) of 8.31% to reach USD 8.44 billion by 2030. This growth is driven by various factors, including the increasing number of corporate events, professional gatherings, and the rising popularity of virtual and hybrid events. The event and activation industry is creating a surge in job opportunities for aspiring event professionals. by2025.Keytrendsinclude The event management industry has gained recognition as a sizable market sector and is a substantial contributor to national economies during the past few decades. Along with generating income, it also expands employment prospects in industries that provide associated hospitality services such as accommodation, food and beverage, convention services, transportation, tourism, and entertainment.

The event management industry in India rapidly expanded, driven by the growing demand for well-organised events ranging from annual trade fairs to state-hosted festive carnivals, reality shows, beauty pageants, educational events and other events. The desire for media exposure and a seamless experience is a major factor in the growing demand for professional event management companies. These organizations provide end-to-end services, from conceptualization to execution, ensuring the success of a wide range of events across the country.

The modern lifestyle, busy corporate jobs and disturbed work-life balance is driving demand for professional event management services. People are capable of spending on event management services due to rise in financial capabilities, driven by the growth in disposable incomes. This has fuelled the demand for event management services in India.

The rise of league-based sporting events considerably boosted the popularity and recognition of various sports in India. Cricket, hockey, kabaddi, tennis, badminton and wrestling gained greater fame and attention through these organised league formats. The introduction of events like the Indian Super League, Pro Kabaddi League, Indian Premier League has been instrumental in driving increased viewership, attracting more sportspeople, broadcasters and sponsors to these sports. (Sources: India Brand Equity Foundation) The event management industry in India is rapidly growing and presenting a rewarding opportunity for young talent in the industry, driven by the growing demand for well-planned and executed events. The event management industry is also undergoing technological development after the pandemic, which also boosted the market of hybrid methods of event management. Additionally, the popularity of sports events and live concerts are growing in the country which is indicating a change in peoples preferences in entertainment industry, and growing demand for such events in the future. To cope up with the trends, industry is evolving to meet the changing needs of clients, promising a bright future for educational event management companies in India.

The events industry refers to the sector that involves the planning, production, management, and execution of events of various sizes and purposes. This can include corporate events, conferences, exhibitions, trade shows, festivals, weddings, sporting events, concerts, and other social gatherings. The events industry is crucial in bringing together individuals or organizations for social, educational, entertainment, or business purposes, often facilitating networking, learning, and brand exposure. It contributes significantly to the economy, particularly tourism, hospitality, and media.

The surge in large-scale sports and entertainment events underpins the rising popularity of sports & entertainment events. These events, from sports tournaments like the FIFA World Cup and the Olympics to music concerts featuring global superstars, substantially impact the trends in the event industry. The increasing prominence of sports and entertainment events drives the demand for professional event management services. Moreover, the popularity of entertainment events has increased in the event management market due to increasing demand for immersive and memorable experiences. In todays fast-paced digital age, people seek opportunities to disconnect from their daily routines and engage in real-life, shared experiences.

According to studies, the event and activation industry in India is growing at an impressive 8.31% compound annual growth rate (CAGR), creating a surge in job opportunities for aspiring event professionals. For students exploring event management career options, this is a promising time to step into the field. This guide covers everything you need to know about pursuing a career in event management in India, from required skills to top job profiles.

India needs to create a more robust and thriving event management sector that could contribute to the countrys economic growth and cultural development. The industry also needs to perform in a streamlined and organized manner that is conductive for growth and scalability. The future of the event industry looks bright. The event industry is an integral part of Indias growing economy. The sports events have also become more commercialized in recent years. Thus, sports serve as a significant marketing advertisement opportunity for event management companies, which sponsor these events.

Sports Industry

The Indian sports industry is fast paced. Its no longer seasonal or driven by a single sport. The Indian market has matured to allow a variety of sports to be enjoyed and there is excitement to enjoy them (in person and online) all year round too. The last year saw a whirlwind of sporting emotions with the launch of new sporting leagues, growth of e-sports and the use of technology (including AI) to enhance playing and viewing experience. There was also an uptick in the number of fans for a variety of sports, which led to increased footfalls in stadiums, high-value bets on media rights and increased fervour for investments in the sports space. The global surge in peoples interest in sports is poised to fuel the sports markets growth in the future. Factors such as increased disposable incomes, heightened health consciousness, and the growing popularity of organized sports events contribute to the growing enthusiasm for sports worldwide.

Indias sports market is projected to grow to $130 billion by 2030 from a market size of $52 billion now, accelerating at a CAGR of 14%, according to a joint report by Deloitte and Google. The report, titled "Think Sports: Unlocking Indias $130B Sports Potential", highlights that this rapid expansion will be driven by a surge in multi-sport fan base and deepening engagement from Gen Z audiences, increased government investment, widespread digital adoption, healthier lifestyles, rising discretionary incomes, and a surge in high-quality sports content. This growth will be supported by expanding viewership for sports apart from cricket, including kabaddi, football etc. Over the last four or five years, the sports budget has increased by 1.6 times, from about $260 million to approximately $405 million. Importantly, there are now sports projects worth around $2.4 billion in the National Infrastructure Pipeline. The sectors 14% compound annual growth rate (CAGR) nearly doubles the nations GDP growth rate, underscoring its potential as a transformative force for the economy and society (Sources: https://economictimes. indiatimes.com/news/sports/ google-deloitte report/)

The Indian government has increased its sports budget, with a focus on infrastructure development, including world-class facilities. The budget for 2024-25 includes a significant increase emphasis on promoting sports culture. The government is also focusing on leveraging public-private partnerships and initiatives like the Khelo India

Playfield Repository to improve sports infrastructure. Digital media spend on sports saw a 25% jump in 2024, highlighting the growing importance of digital platforms for engagement and content delivery. The rise of sports beyond cricket, such as kabaddi, football, and esports, is contributing to the overall growth of the industry. There is increasing private equity investment in smaller and newer sports leagues, which are seen as having high growth potential. Strong collaboration between the government and private sector is essential for effective funding and management of sports initiatives.

The future of sports in India is being shaped by numerous trends including the popularity of new and unconventional sports, public and private investments, growth of sports-focused funds, sports franchising, etc. In addition, the growth of the sports sector will be significantly impacted by the use of technologies, particularly AI and AR/VR. This will give rise to more immersive and personalised experiences, enriching the future of sports. Sports allied industries continue to show a lot of potential as well with sports infrastructure, branded products and merchandising, training academies and sports tourism on the rise. The ball has only begun rolling for sports in India, promising a home run in return.

India should become a hub for the global international sports ecosystem. Sports is not just what is played in the stadiums; it is by itself is an economic activity. Khelo India Games; Youth Games, Khelo India University Games; Khelo India Winter Games and Khelo India Para Games are giving an opportunity for the youngsters to play and also bring forward new talent. It can provide employment. Support for grassroots sports is essential, and the public and private sectors have worked together to provide opportunities and infrastructure for rising sports talent in India.>

Sports is regarded as one of the largest industries globally in terms of employment and revenue. The Business of Sports is a multi-billion dollar global industry propelled by enormous consumer demand.

Corporates are also increasing their involvement in sports beyond advertising and are participating as franchise owners and/or engaging in grassroot development programs—thus playing an active role in the development of India as a sporting nation. Overall, the Indian sports industry is poised for continued growth and development, with a focus on expanding beyond cricket and building a strong sports culture that can support the development of world-class athletes and teams.

Your Company is pioneered in sports management education in India. The Company presently offers Bachelors Programmes in association with Mumbai University and Homi Bhabha State University. The Company equips students with the professional skills and proficiency have meaningful careers within the sports industry & be a driving force behind its success. At Ironwood, nurturing talent and investing in grassroots and excellence, we can collectively propel students towards sporting excellence like never before. We also believe that by bridging the gap between sports and education, we can flair the true potential and help students to embrace a sporting culture where every individual, irrespective of their background can excel.

Indian Real Estate Industry

The Indian real estate sector plays a pivotal role in the nations economic development and has witnessed robust growth in recent years. It is well-positioned for continued expansion, supported by factors such as increasing urbanization, shifting demographics, aspirational lifestyles, and favorable economic conditions. Key drivers of this growth include strong housing demand, the anticipated expansion of sustainable workspaces, rising luxury consumption, increasing foreign investment, and the evolving needs of a growing population with higher income levels.

The real estate sector is one of the most globally recognized sectors. It comprises of four sub-sectors - housing, retail, hospitality, and commercial. The growth of this sector is well complemented by the growth in the corporate environment and the demand for office space as well as urban sports spending, with an and semi-urban accommodation. The construction industry ranks third among the 14 major sectors in terms of direct, indirect and induced effects in all sectors of the economy. Real estate sector in India is expected to reach US$ 1 trillion in market size by 2030, up from US$ 200 billion in 2021 and contribute 13% to the countrys GDP by 2025. In the 2024-25 Interim

Budget, Union Minister of Finance, Ms. Nirmala Sitharaman announced a boost for Indias affordable housing sector by adding two crores more houses to the flagship scheme PMAY-U.

The Indian real estate market in 2025 is expected to experience significant growth, with residential real estate dominating the market and commercial spaces also showing strong potential. This growth is fueled by rising incomes, urbanization, and government initiatives. The market is also witnessing increased adoption of technology, with PropTech, co-living, and smart homes gaining traction. Residential real estate, particularly in the affordable and mid-income segments, is expected to remain a strong growth driver. Commercial spaces, including office spaces and warehousing, are also seeing increased demand, especially in metro cities. Government initiatives like the PMAY and Smart Cities Mission continue to support the sector. The Central and State Governments have launched several initiatives to promote affordable housing in Mumbai. These initiatives include providing subsidies and incentives to developers and reducing the cost of land. This will make it easier for developers to build affordable housing projects and benefit low and middle-income families.

Indias real estate market has closed yet another strong year, with record-breaking leasing and sales and a growing appetite for new launches. Equity investments in the sector are projected to reach USD10 billion in 2024, driven by robust inflows in commercial spaces and a strong momentum in residential real estate. With these positive shifts, it promises to bring further innovation and resilience. Integrated townships, offering community-focused living and advanced amenities, are also gaining popularity. Consumers are now seeking tech-enabled homes equipped with advanced offerings, such as AI-driven security, automated lighting and sustainable energy solutions. The concept of multigenerational living is also gaining traction, with families opting for spaces designed to accommodate diverse age groups under one roof. Going ahead, with positive lending rates and increasing consumer demand, the housing market is expected to retain the momentum. (Sources: Report of KPMG) The Securities and Exchange Board of India (SEBI) has given its approval for the Real Estate Investment Trust (REIT) platform, which will allow all kind of investors to invest in the Indian real estate market. It would create an opportunity worth Rs. 1.25 trillion (US$ 19.65 billion) in the Indian market in the coming years. Real estate developers, in meeting the growing need for managing multiple projects across cities, are also investing in centralized processes to source material and organize manpower and hiring qualified professionals in areas like project management, architecture and engineering. (Sources: Report of India Brand Equity Foundation)

In conclusion, the Indian real estate market in 2025 is poised for continued expansion and transformation, driven by a combination of economic growth, technological advancements, and supportive government policies.

Company Overview

From the scenario, we can say that M&E industry is looking good. In the event management space, there is visibly more vibrancy in music shows, personal celebrity and trade shows. Sporting events are highlights that are more focused on sports management and a segment of event management. Looking forward to more sports and other events happening and enhancing career prospects. The Company is focusing on association with colleges/institutions to offer government recognized degree programs at undergraduate and post graduate levels in sports, events and related areas.

Your Companys vision is to be ‘A Leading Global Education Company. Ironwood has been a leading presence in the global education industry for over a two decade. Ironwood is an umbrella brand for various professional training verticals across India and Dubai. The Company is offering vocational training in the field of event management, advertising, wedding planning, and sports management. The Company will continue its pursuit to expand opportunities in association with other universities/ educational institutes. Your Company believe in the power of collaborations & strive to give our students a platform to go beyond & explore various learning horizons.

Opportunities and Threats

Opportunities

The future of vocational education in India looks promising, with a greater focus on emerging technologies, digital learning, industry-academia collaboration, and entrepreneurship. The governments initiatives such as the Skill India Mission, along with the efforts of private sector players, are likely to create a robust and dynamic vocational education system that would meet the needs of learners, industry, and the economy.

Being a largely under-penetrated field, the vocational training industry in

India holds enormous opportunities for growth. While the entry barriers are likely to stay high for new companies in the near future, those that have already established themselves are likely to see growth gradually. In areas of services, expertise and knowledge, your Company with its team of professionals is expected to tap the potential opportunities for growth. The Company will look at presence both domestic and internationally as in locations, collaboration with leading universities/education institutions to deliver courses to their existing students and resource/research opportunities globally.

The Company plans to continue to expand its brand, scalability and distribution networks through its association in India and abroad. The Company will continue to tap opportunity to grow its business both organically and inorganically via strategic acquisitions in India and abroad. The growing acceptance of vocational institutes and the focus on the media, entertainment and sports sector as a serious career option in the minds of parents, key decision makers, students alike – will ensure that courses presented by the Company are readily accepted in the market. As industries demand practical expertise, universities are shifting toward skill-based curricula. Programs now include hands-on training, internships, and certifications. hybrid learning, combining online and in-person instruction. This flexible approach enhances accessibility while catering to diverse learner needs. Indian universities are forming global partnerships, launching dual-degree programs, and attracting international students. These efforts aim to enhance Indias global standing and provide students with exposure to diverse perspectives.

Threats

The expansion of Vocational education in India faces several challenges that restrict its growth and development. One of the related challenges is to attract talented people to work with the Company and also retaining the pool of this talent. The management continuously reviews its talent pool for upgradation. The Company is focused on ensuring and has implemented employee friendly policies to retain talent.

The Company operates in a highly competitive environment that is subject to innovations, changes and varying levels of resources available to each player. This can be a matter of concern if the company does not adapt to the changing face of the industry. The company has been keeping itself abreast with the latest changes in the industry to implement the same in its operation to keep itself ahead of competition. The faculty skills need to be upgraded and present curriculum is regularly updated as per the current needs of the industry.

Rapid expansion has often prioritized quantity over quality. Many institutions lack well-trained faculty, robust infrastructure, and updated curricula. As a result, only 48% of graduates are considered employable exposing a mismatch between academic outputs and industry needs.

The key management is responsible for the day-to-day operations and they are indeed the key force in driving the business growth because of their experience and knowledge of industry. Having a motivated team will help accelerate the business.

COVID-19 created a plethora of problems but also brought new opportunities and opened doors to innovation in the Education Sector. Innovative approaches and distance learning solutions were thought of and implemented like never before. Online learning platforms and blended learning models are expected to become more common in vocational education.

The rise of skill-based education, micro-credentialing, and global collaborations presents avenues for transformation. By addressing systemic barriers, India can position itself as a global leader in education, aligning its institutions with the demands of the 21st century. Indias higher education system stands at a crossroads whether it transforms or stagnates will depend on how these challenges are tackled in the coming years.

Segment-wise Performance

During the year, Trio Infrastructure Private Limited became a wholly owned subsidiary with effect from 26th February 2025 for the purpose of undertaking real estate business. Consequently, the Group has revised its reportable segments from Geographical Segments to Operating Segments, in accordance with Ind AS 108 – Operating Segments. As of 31st March 2025, the Group is engaged in the businesses of Education and Real

Estate, which have been identified as its reportable segments based on the nature of operations and internal reporting.

Subsidiaries / Joint Ventures

EMDI (Overseas) FZ LLC is a wholly owned subsidiary of the Company, it caters to professional training including teaching graduates, undergraduate and working professionals in the field of Event Management, Wedding

Planning and Radio Jockey & Programming in the form of class room training and workshops.

Trio Infrastructure Private Limited (Trio) has become a wholly owned subsidiary of the Company w.e.f. 26^th February, 2025. Trio has established itself as a key player in the affordable housing market. The company is currently developing a residential project in featuring one and two bedroom apartments that cater to the affordable housing segment. Your Company have an opportunity to enter into real estate business. The acquisition of Trio Infrastructure Private Limited will help the Company in achieving significant milestone in the evolution of both all the stakeholders associated with the Company including shareholders at large.

Sporting Minds Academy LLP in which the Company was a partner is struck off from the Registrar of Companies, Ministry of Corporate Affairs.

Outlook

In line with the expectation from students and industry at large, in India the Company is focusing on association with colleges/institutions to offer government recognized degree programs at undergraduate and post graduate levels in sports, media, entertainment and related areas. This model has received good response.

Risks

Risk is an integral part of corporate world today for any going concern and our endeavor has been to maximize stakeholder value by achieving an appropriate balance between risks and return. Since risk taking is intrinsic to business growth, all business entities face risks either from external environment or from internal operations.

To mitigate the same, the Company has constantly endeavored to broaden the charter of risk management to include opportunities as well as threats. It uses an integrated risk management approach, based on a number of techniques to cover the full range of risks in the framework.

Apart from the regular operational & business risks, the other major risks faced by the Company are: a) Business Concentration Earlier the Companys business was largely concentrated in vocational training primarily in few verticals of media, entertainment and sports for post graduate courses.

Vocational education in India is likely to witness greater collaboration between the industry and academia, which would ensure that vocational education programs are aligned with the needs of the industry and provide learners with practical skills and knowledge.

To mitigate this risk, the Company also takes measures to keep up the requisite academic standards. The Company has associated with universities to broaden its offerings to include Bachelors programs. b) Core Faculty The faculty plays a pivotal role in the system of education. Further majority of our faculty members are visiting faculties from various industries and are in other occupation besides teaching. Failure to attract / retain experienced faculty members who have the necessary domain expertise to effectively deliver the course may affect the pace of our growth and teaching quality across all our learning centres in different locations.

To overcome, the Company has been able to tap professionals from relevant industry. All faculty members lecture on subjects of their expertise, resulting in experience sharing, interaction and networking of these professional with the students. The faculty members contribute to our overall performance by providing good quality training to the students and thus enable us to maintain our brand and reputation. c) Entry of other players The lack of an entry barrier with respect to a private setup offering similar certificate courses is a threat. Centres offering similar courses are the first level of competition, however competition which enters the market, may offer a poor product and then is forced to shut down later on is even worse as it spoils the education market and trust towards the other credible players.

The Company can reduce their chance of survival by providing quality education as per academic standards to the students. At the end of the period, they go out of business thus they will fail in the business. d) Enrollment of students The Companys ability to attract students to enroll for courses depend on companies which several factors such as to offer new courses, enhancing existing courseswill benefit in response to changing industry needs, students demands, expanding our geographic reach, effectively marketing courses to a broader base of prospective students and responding to competitive pressures.

To overcome, the Company has been using digital channels, create social media pages, optimize website for search engines, and market online content. Student testimonials, successful case studies, awards, recognition are some of the examples of trust elements that add credibility to the brand. Showing prospects the success of your alumni can do a lot in convincing applicants that institute is the right one for them. By integrating these tools thoughtfully, institutions can ensure that education becomes not only more effective but also equitable.

Social Responsibility

Your Company believes in being a responsible part of the community and contributing back to it in every possible manner. SWAT (Students Working Against Tobacco) is a youth initiative initiated and pursued by students against tobacco, operating at an awareness platform. The objective of SWAT is to urge Indias youth to stay away from the ravages and dangers of smoking. The purpose is to persuade young people to never try smoking and to encourage those who are trying to get rid of the habit of smoking. The SWAT team has taken various initiatives in the form of events to spread this message over the years by organizing Shav Yatra, Flash Mob, College Festival Activities, Bike Rally and other means.

Internal Control Systems

The Company has appointed a firm of Chartered Accountants as Internal

Auditors to review and report on internal controls system. The report of the Internal Auditors is reviewed by the Audit Committee. The Audit Committee formulates a detailed plan to the Internal Auditors for the year and the same is reviewed at the Audit Committee meetings. The Internal Auditors submit their recommendations to the Audit Committee and provides road map for future action.

The Company recognizes the importance of internal controls and has suitable internal control systems and processes in place for the smooth conduct of the business. Companys internal controls are commensurate with its size and nature of its business. The management continuously reviews the internal control systems and procedures to ensure orderly and efficient conduct of business. The management duly considers and takes appropriate action on the recommendations made by the statutory auditors and independent Audit Committee.

Discussion on Financial Performance with respect to Operational Performance

The financial performance of the year ending March 31, 2025 reflects the steps have been initiated to become a more focused company, moving into areas where we have huge opportunities and greater long-term potential. The authorized share capital of the Company is Rs. 16,00,00,000/- divided into 1,60,00,000 equity shares of Rs. 10/- each. The paid-up share capital of the Company is Rs. 15,06,89,560/- divided into 1,50,68,956 equity shares of par value of Rs. 10/- each.

Highlights of the Companys standalone financial performance are as under: (Rs. in thousand)

Particulars	2024-25	2023-24
Revenues	22,295.73	18,469.72
PBDIT	(95,426.41)	(45,050.73)
PBT and Exceptional Items	(7,708.23)	(10,375.28)
PBT	(1,02,780.27)	(55,394.26)
PAT	(1,02,896.49)	(55,542.70)
EPS :- Basic	(12.00)	(7.02)
Diluted	(12.00)	(7.02)

Material Changes and Commitment affecting the Financial Position of the Company

There have been no material changes and commitments affecting the financial position of the Company which have occurred between 31 ^st March, 2025 and the date of this report other than those disclosed in this report.

Disclosure of Accounting Treatments

The Financial Statements are prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) (as amended) as prescribed under Section 133 of the Act and other recognized accounting practices and policies as applicable.

Human Resources

The Company firmly believes that its human resources are its true assets and constitute the most vital force in moving the organization forward. The key management is responsible for the day-to-day operations and they are indeed the key force in driving the business growth. The Company has strong team with experience, expertise and focus. The management team effectively plans and oversees implementation of growth strategies. To reduce attrition levels, the Company has initiated a number of programs that include an empowered work environment, learning opportunities, employee friendly policies and competitive compensation packages.

FORWARD LOOKING STATEMENT

Forward-looking statement in this Annual Report should be read in conjunction with the following cautionary statements. Certain expectations and projections regarding future performance of the Company referenced in this Annual Report are forward – looking statements. These expectations and projections are based on currently available competitive, financial and economic data along with the Companys operating plans and are subject to certain future events and uncertainties, that could cause actual results to differ materially from those that may be indicated by such statements. The Company undertakes no obligations to publicly update or revise any forward-looking statements, whether as a new information, future events or otherwise.

Key Financial Ratios (Consolidated)

In accordance with SEBI (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2018, the details of significant changes (change of 25% or more as compared to the immediately previous financial year) are given below:

Sr.No Particulars	2024-25	2023-24	Definition	Explanation
1 Debtors Turnover Ratio	0.21	5.04	Revenue From Operations/ Average Trade Receivables	The decrease in the Debtors Turnover Ratio during the year is primarily attributable to an increase in trade receivables.
2 Inventory Turnover Ratio	0.11	-	COGS / Average Inventory	Inventory Turnover Ratio is partly due to the addition of a new subsidiary in the construction segment during the year.
3 Interest Coverage Ratio	-1.27	-1.29	Profit before exceptional items, interest and tax/Interest Expenses	Insignificant variance
4 Current Ratio	1.40	0.57	Current Assets/Current Liabilities	The increase in the ratio is due to a substantial rise in current assets during the year
5 Debt Equity Ratio	0.76	1.44	Debt/Shareholders Equity	During the year, the Company has issued equity shares on a private placement basis, resulting in an increase in the share capital and securities premium balance.
6 Operating Profit Margin	0.51	0.77	Operating Profit/Revenue from	The decrease in operating profit is primarily due to a
			Operations	decline in revenue during the year
7 Net Profit Margin*	-1.87	-1.40	Net Profit/Total Income	Increase due to fair valuation loss booked on investment.
8 Return on Net Worth*	-0.47	-1.01	Net Profit/Shareholders Equity	During the year, the Company has issued equity shares on a private placement basis, resulting in an increase in the share capital and securities premium balance.

* Net Profit Margin & Return on Net Worth ratios are negative as the company has incurred losses during the Current Financial Year.