**NSE: ASCENSIVE** Ascensive Educare Limited is an **ISO 9001:2015** certified human capital transformation enterprise and an accredited **NSDC (National Skill Development Corporation) partner**. The company specializes in vocational training, educational consulting, and managed human resource services. Operating across **18+ states** with a network of **150+ training centers**, the company has trained over **1,00,000 individuals** to date, maintaining a consistent placement rate of **70%+**. --- ### Diversified Revenue Streams & Service Verticals The company operates a single primary reporting segment under **AS 17**, yet maintains a diversified service portfolio that balances government-backed social initiatives with high-margin corporate services. * **Skill Development Training:** Delivery of **NSFQ-compliant** courses in Hardware, Networking, Management, and specialized vocational trades. * **Apprenticeship Implementation:** Acting as a **Third Party Aggregator (TPA)** for **NAPS (National Apprenticeship Promotion Scheme)** and **NATS (National Apprenticeship Training Scheme)**, managing training, stipend administration, and compliance. * **HR Sourcing & Payroll Consulting:** Providing flexi-staffing, mid-to-senior level recruitment, and end-to-end payroll accounting for major logistics and consumer goods firms. * **Livelihood Generation & CSR:** Implementing corporate-funded social projects and government-backed entrepreneurship initiatives, such as the **Mission Shakti (Odisha)** project for **2,000+ women**. #### Revenue Mix Evolution The company is strategically shifting toward a **50:50 split** between Government (B2G) and Corporate (B2B) revenue to mitigate payment delays and improve cash flow. | Feature | **B2G (Business to Government)** | **B2B (Business to Business)** | |:---|:---|:---| | **Primary Clients** | Central/State Ministries (MSDE, MoRD, MoTA) | Corporates (ITC, HAL, Delhivery, Blue Dart) | | **Key Schemes** | **PMKVY 4.0, DDU-GKY, PM-VIKAS, DAY-NULM** | CSR Projects, Payroll Outsourcing, NAPS/NATS | | **Margin Profile** | Higher margins; procedural payment delays | Lower margins; faster payment cycles | | **Key Strategy** | **RTD (Recruit, Train, Deploy)** model | Recruitment-linked training and flexi-staffing | --- ### Sectoral Expertise & Training Infrastructure Ascensive Educare utilizes industry-standard labs and a curriculum aligned with **FSSAI** and other regulatory bodies to ensure job readiness. * **Apparel & Textiles:** Training in cutting, stitching, and quality control. * **Media & Entertainment:** Technical courses in digital content creation and animation. * **Electrical & Green Jobs:** Specialized training in **solar panel installation** and renewable energy. * **Food Processing:** Instruction in preservation and packaging under **FSSAI certification** protocols. * **Tourism & Hospitality:** Front office and F&B service training, including the **Hunar Se Rozgar Tak** program which achieved an **88% placement rate**. --- ### Strategic Growth Pillars & Future Outlook The company is transitioning from a pure-play vocational provider to a diversified educational and resource management entity. * **Academic Expansion:** Plans to establish a **full-fledged industry-led university** offering job-oriented degrees in collaboration with global educational bodies. * **Centers of Excellence (COE):** Development of world-class COEs focused on **Electronics, Engineering, and Future Skills** (AI, Data Science, and Cybersecurity). * **Industrial Diversification:** In **December 2023**, the company amended its **Memorandum of Association (MoA)** to enter the **mining and natural resources** sector, specifically the trading and processing of stones, marble, and sand. * **Geographic Penetration:** A strategic focus on expanding the vocational footprint into **rural areas** and **Tier II/III cities**. --- ### Project Pipeline & Order Book (2024-2026) As of May 2025, the company manages an ongoing project pipeline valued at approximately **₹81.33 Crore**. | Date | Client / Partner | Project Scope | Value / Scale | |:---|:---|:---|:---| | **Apr 2026** | Meghalaya State Skill Dev. Society | Training across **16 trades** | **₹5.57 Crore** | | **Aug 2025** | Tourism & Hospitality Skill Council | **Mission Shakti Scheme** | **₹13.48 Crore** | | **Jun 2023** | Maharashtra State Skill Dev. | Pramod Mahajan Kaushalya Abhiyaan | **~₹18.31 Crore** | | **Ongoing** | **Delhivery / Blue Dart** | Manpower & Payroll Management | **₹11.10 Crore (Combined)** | | **Ongoing** | **MP & Odisha Schools** | Vocational education in **180 schools** | NSQF Alignment | --- ### Financial Performance & Capital Structure The company has demonstrated significant scaling, with a **69% YoY revenue increase** in **FY25**. #### Key Financial Metrics | Metric (₹ in Cr) | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | | :--- | :--- | :--- | :--- | :--- | | **Revenue from Operations** | **35.35** | **20.90** | **16.28** | **13.24** | | **Profit After Tax (PAT)** | **2.60** | **1.32** | **1.11** | **0.82** | | **Net Worth** | **15.58** | **12.34** | **7.08** | **6.05** | | **PAT Margin** | **7.35%** | **6.32%** | **6.82%** | **6.19%** | | **EPS (Basic)** | **₹5.97** | **₹3.48** | **-** | **-** | #### Capital Management & Liquidity * **Stock Split:** In **January 2025**, the company executed a **1:10 sub-division**, reducing the face value from **₹10** to **₹1** to enhance retail liquidity. * **Equity Infusion:** In **May 2023**, the board raised **₹4.57 Crore** through preferential issues and warrants at **₹33.20** per unit to fund working capital. * **Debt Profile:** The company has significantly reduced long-term debt over a **5-year horizon**, improving its **Debt-Equity Ratio** through the repayment of **₹1.18 Cr** in **FY24**. * **Dividend Policy:** Management currently transfers **100% of profits to Reserves** to fund aggressive scalability and a **59% CAGR** business model. --- ### Risk Profile & Governance While the company maintains a structured internal audit process, it faces specific regulatory and operational headwinds. #### Regulatory & Tax Litigation * **GST Dispute:** A demand order of **₹84,89,910** under **Section 74(9) of the WBGST Act** is currently under appeal regarding bank credit discrepancies. * **Statutory Dues:** Outstanding **TDS** payments totaling **₹3,39,300** across multiple fiscal years are in the process of being settled. * **Compliance Lapses:** Historical delays in **Structured Digital Database (SDD)** entries and **Form MGT-14** filings have been noted as administrative oversights. #### Operational Risks * **Policy Dependency:** High sensitivity to changes in **Central and State government** skilling budgets and mandates. * **Ed-Tech Adoption:** Potential resistance to digital learning platforms following poor pandemic-era experiences in the broader market. * **Human Capital:** The risk of trainer burnout and the challenge of maintaining **Sector Skills Council-certified** talent in remote regions.