Maharashtra Knowledge Corporation Limited (MKCL) Shares

Annual Report Summary

Here is a comprehensive summary of the provided PDF document:

Overview

The document is the 23rd Annual Report for the financial year 2023-24 of Maharashtra Knowledge Corporation Limited (MKCL). MKCL focuses on leveraging technology to bridge the digital divide, create a knowledge-led society, and facilitate transformations in education, development, governance, and empowerment. The report details the company's financial performance, business operations, and initiatives during the year.

Key Highlights

• Financial Performance: MKCL saw significant growth in revenue from operations, a rise in profit before tax (PBT), and increased cash generation from operations.
  • Revenue from Operations: ₹23,452.67 Lakhs (32% increase YoY)
  • Profit before Tax (PBT): ₹8,030.99 Lakhs (31% increase YoY)
  • EBITDA: ₹8,731.12 Lakhs (30% increase YoY)
  • Cash Generated from Operations (Gross): ₹10,146.80 Lakhs (97% increase YoY)
• Learner Count: There were 7,36,493 MS-CIT learners and 1,03,637 KLIC learners.
• Dividend: The Board recommends a final dividend of ₹2.5 per equity share (25%).
• Subsidiaries & Joint Ventures: The report covers the performance and financial position of MKCL's subsidiaries and joint ventures, including Odisha Knowledge Corporation Limited (OKCL), Haryana Knowledge Corporation Limited (HKCL), and MKCL Arabia Limited.

Business Operations and Programs

MKCL operates a variety of programs focused on digital literacy, skill development, eGovernance, and empowerment. Key programs include:

• MS-CIT: The Maharashtra State Certificate in Information Technology course, aimed at bridging the digital divide and promoting IT literacy. Over 15.6 million learners have registered for this course in the last 23 years.
• KLC: Knowledge-Lit Careers, a series of courses designed to enhance employability and entrepreneurship. KLIC courses are recognized by Yashwantrao Chavan Maharashtra Open University (YCMOU). Over 650,000 learners have completed various KLIC courses.
• CSMS-DEEP: Chhatrapati Sambhaji Maharaj SARTHI Digital Employability Enhancement Program Diploma implemented in collaboration with SARTHI.
• LiveDemy: Short courses for digital enablement of MSMEs.
• eAuctionLive: An eAuction portal used by the Government of Haryana for auctioning residential and commercial plots.
• VanMitra: A software framework for implementing the Forest Rights Act (FRA) in Madhya Pradesh.
• Digital University (DU): A software framework for managing the lifecycle of millions of students and institutions in higher education.
• Mission Mode Skills Development Program (MMS-DP): MKCL partners with state skill development missions, including Bihar Skill Development Mission (BSDM).
• MKCL LearnLive: A cloud-based learning management system.

Organizational Structure & Governance

• Board of Directors: The report lists the Board of Directors, including professional directors, independent directors, government nominee directors, and university representatives.
• Strategy Advisory Committee (MSAC): The committee consists of the Chairman of MKCL, the Chief Mentor of MKCL, the Managing Director of MKCL, and other eminent experts from various disciplines.
• Committees & Teams: Details of corporate management functions, special purpose teams, and committees are provided.
• Financial Sustenance: MKCL is an unaided organization and doesn't receive funds, grants-in-aid, or financial assistance from the Government.

Compliance & Standards

• ISO 9001:2015 Certification
• ISMS Certification (ISO 27001:2013)
• CMMI Level 3 Certification.

Additional Points

• The company has dematerialized its equity shares and appointed Alankit Assignments Limited as the Registrar and Share Transfer Agent (RTA).
• A 'JanLabh' portal has been developed to provide information on government schemes to citizens.

Financial Statements & Audit

The report includes detailed standalone and consolidated financial statements, along with the auditor's reports, covering key financial data, accounting policies, and notes on accounts. The audit reports express an unqualified opinion on the financial statements. Issues relating to internal controls and compliance are noted and addressed.

Future Outlook

The report positions MKCL as continuing to pursue technology-driven solutions to address the digital divide, enhance education, development, governance, and empowerment. The emphasis on AI, e-learning, and strategic partnerships suggests a forward-looking approach to addressing evolving societal needs.