NAVNEET

About Navneet Publications (India) Ltd.NAVNEET was floated by the NAVNEET Group of Companies managed by Gala Family Members who have an enviable reputation of over 46 years in the field of Educational Books Publishing.

Since 1959, Navneet has been a major force in the dissemination of knowledge. NAVNEET is a dominant player in the field of educational books publishing, publishing more than 3550 titles every year in English, Hindi, Marathi and Gujarati.

Initially a Book Store was opened in 1945, at Mumbai, which sold new and second hand books. The Gala Family realised that there was a great demand from the students fraternity for the aided materials over and above text books. Realising this first Book under name NAVNEET was published in 1959 by Gala Family.

In 1987, to further strengthen and consolidate the business of book publishing, NAVNEET installed ultramodern printing press at Dantali, District Gandhinagar, Gujarat. By 1991, sophisticated printing and binding machineries had been imported to complete the modernisation-cum-expansion plans of the company.

In 1993, NAVNEET installed machinery to manufacture paper stationery products at Vasai near Mumbai. The company also installed State-of-the-Art 'Note Book on-line' machine in 1995 at Daman. The operations at Daman have since been shifted to more specious factory at Silvassa.

In 1998, NAVNEET pioneered a children's website www.navneet.com to offer children the benefits of phenomenal changes in modern communications brought about by computers and internet.

In January, 2000, NAVNEET'S website was ranked 78th amongst the world's top 100 websites in the children's category.

Over the decades, NAVNEET has emerged as an educational products and services company in India. The company's products are sold under the 'Navneet', 'Vikas' and 'Gala' brand names.

NAVNEET's portfolio of syllabus based Books includes high quality books, supplementary books like Guides and 21 Question Sets among others in four languages, English, Hindi, Marathi and Gujarati. The company has a dominant market share in Gujarat and Maharashtra.

NAVNEET also produces around 992 titles in the children and general books category, which are not based on syllabus, such as activity books for children, health series books, cookeries, mehendi,feng-shui etc.

The company enjoys leading position in premiere stationery markets in India, the Middle East, parts of Africa, U.S.A. and Europe.

To keep step with dynamic environment, NAVNEET launched Internet initiative called Navneet Edutainment Limited, a subsidiary of the company to leverage the Net and provide superior localised educational content. NAVNEET expects to capitalise on its long-standing presence in the conventional format to drive its success in the dynamic Internet environment.

The Company has posted a turnover of Rs.252.85 crores for the year ended 31st March, 2004. The Operating Profit of the Company for the year stood at Rs.62.72 Crores and Profit After tax was Rs.35.16 Crores. The Book Value of the Company was Rs.83.13 and Earning Per Share was Rs.18.46. Net worth of the Company increased to Rs.158.42 Crores. The Promoters of the Company hold around 62% shares of the Company. The Shares of the Company are listed on National Stock Exchange, Mumbai Stock Exchange & Saurashtra Kutch Stock Exchanges. However the Company has applied for de-listing of shares from Saurashtra Kutch Stock Exchnages and accordingly their de-listing approval is pending. Navneet's market capitalisation as on 13th August, 2004 stood at Rs.290.81 Crores.

Media Releases 2004 Releases

2004 Releases July 31 , 2004

April 28 , 2004

http://www.navneet.com/media/2004/28april2004.htm

http://www.navneet.com/media/2004/31july2004.htm

Jan 22 , 2004

2003 Releases

2002 Releases

2001 Releases

2000 Releases

1999 Releases

PRESS RELEASE (31st July 2004)

Navneet Publications (India) Limited, a leading Educational publishers have announced quarterly results for the quarter ended 30th June, 2004. The turnover of the Company has increased from Rs.137.64 Crores to Rs.147.16 Crores. The other income increased from Rs.75 Lacs to Rs.110 Lacs. Profit after tax was marginally down from Rs.24.65 Crores in the corresponding quarter last year to Rs.24.17 Crores.

The operating level performance of the Company was better in the quarter as compared to the corresponding quarter. However, due to revalorisation of outstanding Foreign Currency loan and forward cover as per Accounting Standard (AS11) issued by ICAI, amount of Rs.564 Lacs was debited as against gain of Rs.4.44 lacs in the corresponding quarter.

Media Releases

2004 Releases

2004 Releases July 31 , 2004

April 28 , 2004

Jan 22 , 2004

2003 Releases

2002 Releases

2001 Releases

2000 Releases

1999 Releases

PRESS RELEASE (31st July 2004)

Navneet Publications (India) Limited, a leading Educational publishers have announced quarterly results for the quarter ended 30th June, 2004. The turnover of the Company has increased from Rs.137.64 Crores to Rs.147.16 Crores. The other income increased from Rs.75 Lacs to Rs.110 Lacs. Profit after tax was marginally down from Rs.24.65 Crores in the corresponding quarter last year to Rs.24.17 Crores.

The operating level performance of the Company was better in the quarter as compared to the corresponding quarter. However, due to revalorisation of outstanding Foreign Currency loan and forward cover as per Accounting Standard (AS11) issued by ICAI, amount of Rs.564 Lacs was debited as against gain of Rs.4.44 lacs in the corresponding quarter.

http://www.navneet.com/media/1999/27oct1999.htm


http://www.navneet.com/media/2001/14dec2001.htm


http://www.navneet.com/media/2003/feb21_2003.htm

http://www.navneet.com/media/2004/22jan2004.htm

http://www.navneet.com/media/2004/28april2004.htm





http://www.navneet.com/media/2003/feb21_2003.htm

http://www.navneet.com/media/2004/22jan2004.htm

Dantali

Village Dantali, Behind Kasturinagar,Taluka & Dist. Gandhinagar, Gujarat Tel No. : (079) 3286200

Silvassa

Village Sayali, Silvassa Tel No. : (0260) 2641414 / 5Email : [email protected]

Vasai

Ponafel Industrial Estate, Gokhiware, Chinchpada, Vasai (East), Dist.Thane Tel No: (95250) 455831/2/3Email : [email protected]

Awards and Achievements

Publishers Awards

Publishers Awards

Special Export Award 2002-03

Special Export Award 2001

Special Export Award 2000

Export House

D.B.Dhawle Award

Award from Federationof Indian Publishers

Shri Anil D. Gala, Director (Children Books Publishing) received an Award from The Federation of Indian Publishers on 16th September, 2001 in recognition of the "Significant Contribution of the Company to Book Promotion and Indian Publishing industry".

Former Hon'ble Prime Minister I. K. Gujral presenting Shri Anil Gala, with the award from the Federation of Indian Publishers.

Top Export Award 2002 - 2003

Navneet has won the prestigious Top Export Award from CAPEXIL in the category of books, publications, printing industry and printed material. The Company has received the export Award for the 4th consecutive year from CAPEXIL.

http://www.navneet.com/investors/awards/db_dhawle.htm

http://www.navneet.com/investors/awards/export_house.htm

http://www.navneet.com/investors/awards/export_awards.htm

http://www.navneet.com/investors/awards/export_awards2001.htm

http://www.navneet.com/investors/awards/export_awards2002_03.htm

mailto:[email protected]


Special Export Award 2000 - 2001

Navneet has won the Prestigious Special Export Award for the year 2000-2001 from CAPEXIL (Formerly, Chemicals & Allied Products Export Promotion Council) Sponsored by Ministry of Commerce and Industry,Govt. of India in recognition of Outstanding Export Performance in respect of export of paper products in the year 2000-2001.

The Company had earlier received the Certificate of Merit on three occasions for such outstanding export performance in the past..

Special Export Award 1999 - 2000

Navneet has won the Prestigeous Special Export Award for the year 1999-2000 from Capexil (Formerly, Chemicals & Allied Products Export Promotion Council) sponsored by Ministry of Commerce and Industry, Govt. of India in recognition of Outstanding Export Performance in respect of export of paper products in the year 1999-2000.

In recognition of the meritorious performance on the Exports front year after year, the company has been granted the reputed status of "Government Recognised Export House" by Additional Export Commissioner.

Joint Director General of Foreign Trade, Ministry of commerce and Indutstry, Govt. of India, with effect from 1st April, 2002 for a period of 5 years up to 31st March, 2007.

D.B. Dhawle Award

D.B. Dhawle Award for best Children's Literature in Marathi.

Publications Division



Stationery Division

Navneet Edutainment Ltd

Navneet -A Brand :Navneet ’s brand initiative extends to four A ’s that are indispensable for achieving business success.

Awareness :

Creating awareness of publishers ’products is an art by itself.Direct contacts with thousands of schools,teaching community and trade are the basics behind this great success.With over 400 employees specially designated to keep direct contacts and explain the benefits of Navneet ’s publications and stationery products is the key strength of Navneet ’s field force.A localized brand before 5 years is now national in all respects and also becoming an international brand, particularly among young NRI ’s.

Availability :Direct contacts with over 60,000 retail outlets and over 20,000 schools by the field force of the Company ensures availability of all products throughout the year.

Acceptance :Navneet ’s content is accepted over the years.Many debates among the education fraternity have ended referring to Navneet ’s content. Continuous delivery of quality content has made users accepting Navneet ’s products without any hesitation.

Affordability :Education has to be for the masses.Spending on education has always been a concern among the parents in our country.Navneet has believed in selling all its products at affordable prices and within reach of the masses.

Creating Shareholders Value :The focus of the Company has always been to create and maximize the Shareholders ’value.As stated last year,SAP implementation has completed one year.The Company did face several issues before settling down successfully.The dedicated team efforts across the Company have paid dividends in implementation.The benefit of such implementation would start accruing hereinafter with the optimum utilization of all its resources. Kaizen Practices at most of the production facilities have increased the productivity and has benefited in proper planning

http://www.navneet.com/ourbusiness/ned/about_NED.htm

http://www.navneet.com/ourbusiness/stationerydivision/paperstationery.htm

throughout the year.With such benefit,your Company has decided to implement such practices in material movements and various marketing activities.

The Madhya Pradesh initiative of the Company,last year in a small way and this year in a little better way has proved that quality sells everywhere.It is a great opportunity for the Company to create content for maximum number of titles for this new area and complete the whole range in the next 3 years.With proper planning,the management is confident to achieve its success in Madhya Pradesh.

Navneet ’s Policy on Dividend :For both the business divisions of the Company,no huge capex is required in the near future.With that in mind,the Company continues to have a liberal dividend policy as earlier.Your Company has already paid Rs.5/-per share as an interim dividend and further has proposed a final dividend of Rs.2.50 per share,which make the total dividend for the year under review of Rs.7.50 per share (75%).The total dividend pay out works out to 40.63%against the Company ’s liberal dividend policy of declaring at least 25%.

Business Overview :The Company has basically two major business Divisions,namely“Book Publishing ” and “Paper stationery ”.

Book Publishing :The Book Publishing Division comprises two major categories of books,“Educational Books ” and “Children and General Books ”.

As discussed last year and also as stated by your chairman,static syllabus for last several years in both the states of operations has restricted the growth of Educational Books category.Second hand book market is a dampener for the growth of this category of Books.With the successful launch of the Madhya Pradesh curriculum based books and definite plans of changing curriculum from current year in both the states shows a positive outlook for the next few years for your Company. Children and General books category continues to grow across India and particularly in international markets.With the help of dedicated and creative team within the Company,your Company has been able to successfully launch new products for international markets and also able to conceptualize various products which are accepted by several international buyers with a few changes.Your management is confident on generating huge volumes in this category of publications.

Stationery Division

Stationery Division


Stationery Division


Paper stationery division :The paper stationery Division has two different markets,Domestic and International.

Domestic Market :Your Company basically deals in scholastic stationery products.Thereis lot of competition in domestic stationery market,with many unorganized players,but with the strong brand,consistent business policies (contrary to the trade),the Company ’s policy of creating value addition in each and every product,and systematic distribution systems has helped this business

to grow successfully.The recent‘Tight Bound ’notebook series,a unique concept of binding for the benefit of students has literally surprised the unorganized markets. Creating awareness among institutions for usage of quality products also helps this division to grow rapidly. Your Company has decided to introduce more and more value added products including few office stationery products in the coming years.

International Market :Company ’s stationery business could grow substantially only because of continuous growth in the international market.Competition is growing year after year.Appreciation of the Rupee has further worsened the salability in terms of pricing.With the help of Kaizen practices,your Company has been able to increase the productivity and eventually is able to compete.Surprisingly major US buyers have been focusing sourcing from India instead of fully

http://www.navneet.com/ourbusiness/ned/about_NED.htm

http://www.navneet.com/ourbusiness/publication/publications.htm

relying on China. Your Company has started receiving inquires from such major buyers. Your Company expects good growth in the current year and thereafter.

For International markets also,your Company conceptualizes value added stationery products and have started marketing such products in European markets.

About NED

About NED


Stationery Division


About Navneet Edutainment LimitedNavneet Edutainment Limited believes that there exists great potential in the interactive education sector. With the convergence of education and technology, electronic learning products are gaining importance. Navneet Edutainment recognizes this, and is aligning its efforts towards making a significant contribution to these sectors. Navneet Top Scorer products and www.connectschool.com are initiatives in response to the challenges and opportunities presented by this convergence of education and technology. Navneet Edutainment has a team of young, enthusiastic professionals, driven by the desire to succeed and innovate in the constantly changing world of education and technology.

The Products

Navneet Edutainment has launched a unique range of CD-ROMs: 'Navneet Top Scorer Digest Plus'. These syllabus-based CD-ROMs are available for Maharashtra Board and CBSE students of Std. VIII to XII. The resources offered by Navneet Top Scorer CD-ROMs completely cover the syllabus through content that is correct in all aspects. Convenient to use, Navneet Top Scorer CD-ROMs make students more confident to score top-class marks in their exams.

Navneet Top Scorer products include a wide range of curriculum-based CD-ROMs for Indian students. These CD-ROMs contain more than 7,000 visuals in the form of graphics and animations, along with a question bank of more than 35,000 questions. Navneet Top Scorer products and services are a unique resource of high quality interactive educational content and are available on CD-ROMs. The entire content of Navneet Top Scorer CD-ROMs has been prepared by leading educationists and teachers with decades of experience.

Navneet Top Scorer Digest Plus CD-ROMs are a comprehensive self-learning preparatory tool. They are aimed at helping students understand and reinforce what they have learnt in the classroom. Digest Plus CD-ROMs include textual explanations, enriching animations with voice-overs, additional information, and interactive testing to provide students with a holistic learning experience. Navneet Top Scorer Digest Plus CD-ROMs make learning experience, personalized by providing students with a facility to add, view and print, their own notes, at all stages of their learning process.

Navneet Top Scorer CD-ROMs are available at leading bookshops in major cities in India. These CD-ROMs are the most economical educational CD-ROMs available in the market. They are designed to meet the real needs of the students and are in keeping with the mission of the Navneet Group - to provide students with educational products of the highest quality in the language and medium of their choice, at affordable prices. Considering the reasonable prices at which these CD-ROMs are available, Navneet Edutainment Limited is effectively targeting to bridge the digital divide by making technology-based educational products more affordable for a large student segment.

The Navneet Edutainment team consists of young, enthusiastic professionals, driven by the desire to succeed and innovate in the constantly changing world of education and technology. Navneet Edutainment has a dedicated team of reputed content creators and highly qualified software professionals who specialize in interactive content development. For more information, visit www.connectschool.com

http://www.connectschool.com/

http://www.connectschool.com/

http://www.navneet.com/ourbusiness/stationerydivision/paperstationery.htm

http://www.navneet.com/ourbusiness/publication/publications.htm

Navneet Publications (India) Ltd Background

Incorporation Year

1984

Registered Office

Navneet Bhavan, Bhavani Shankar Road Dadar (W), Mumbai - 400028, Maharashtra

Telephone 91-022-56626565

Fax 91-022-56626470

Industry Printing & Stationery

House Indian Private

Chairman Shivji K Vikamsey

Managing Director

Amarchand R Gala

Company Secretary

Manoj J Thakar

Auditor Ghalla & Bhansali

Face Value 10

Market Lot 1

Listing Mumbai, NSE, Saurashtra Kutch

Registrar Intime Spectrum Registry Ltd C-13 Pannalal Silk, Mills Cmpd LBS Road, Bhandup West, Mumbai - 400 078

Navneet Publications (India) Ltd Board of Directors


Managing Director Amarchand R Gala

Joint Managing Director Jaisinh K Sampat

Director Dungarshi R Gala

Harakhchand R Gala

Shantilal R Gala

Director (Marketing) Jitendra L Gala

Director Ashok M Nadkarni

Liladhar D Shah

R Varadarajan

Kamlesh S Vikamsey

Company Secretary Manoj J Thakar

Director Vijay Rai Source : http://www.capitalmarket.com

Navneet Publications (India) Ltd Biodata

In Nov.'91, Bookwing Publications and Trading Company was renamed Navneet

Publications (India). Established in the paper trading business, it started a printing press to print books on a job-work basis at Dantali, Gujarat. In Apr.'91, the company entered into an agreement with three publications - Navneet Prakashan Kendra, Vikas Prakashan and Gala Publishers -- whereby it acquired licenses to use the brand names of Navneet, Vikas and Gala. Promoted by the Navneet group, it is managed and controlled by members of the Gala family of Bombay. The company is the market leader in educational books and publications in Maharashtra and Gujarat. The company diversified into the manufacture and export of paper stationery items by setting up an export division at Vasai near Bombay, which became fully operational in 1994. The products are exported to the Gulf and the UK. It came out with a rights-cum-public issue in Mar.'94 to part-finance its expansion-cum-diversification programme. The company implemented the project at Daman for the manufacture of paper stationery items in 1995-96. In 1998, it pioneered a childrens website, www.navneet.com, to offer children the benefits of the phenomenal changes in modern communication brought about by computers and internet. In Jan.'2000, the site ranked 78th among the world's top 100 sites in the children's category. With offices in Ahmedabad, Pune, Nagpur and Madras, it continues to deliver value in education, its vision of excellence giving it the confidence to stride proudly into the new millennium. During the year 1999-2000, the Company allotted 95,28,600 Bonus Equity shares in the ratio of 1:1, increasing the paid up equity capital to Rs. 19.06 crores. Although, the bulk of the business still accrues from the western region, Navneet has already established its presence in 17 more states with its paper stationery and non-educational books business. The company wants to launch its academic books on a national scale. So it is currently working on the content based on the Central Board of Education (CBSE) curriculum, popular in the north and central India. Over the next two years, NPL has planned a phased entry into this Rs 500 crore market. NPL is also believed to be considering acquisitions to improve its penetration in other states. Besides, in addition to its collection of Marathi, Hindi, Gujarati and English books for children, it is now publishing books for children in Bengali, and will soon branch into south Indian languages as well. It eventually plans to spread its wings across 300-odd cities across the country by the end of the year. During March 2002 the Company commenced commercial production of Stationery products at Unit II in Silvassa.

Navneet Publications (India) Ltd Bankers

Bank of Nova Scotia

Bank of India

BNP Paribas

ICICI Bank Ltd

UCO Bank

Navneet Publications (India) Ltd Expansion Plans/New Projects

YEAR200403

200303

200109

200009

199909

199809

199709

199609

199509 199409

Expansi ----- ----- ----- ----- ----- ----- ----- ----- Paper Educati

on Type Stationery onal Books

Unit ----- ----- ----- ----- ----- ----- ----- ----- ----- -----

Project Capacity

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Project Cost

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 7.00 7.00

Location ----- ----- ----- ----- ----- ----- ----- ----- Village Dabhel

Village Dabhel

Date of Commercial Production

----- ----- ----- ----- ----- ----- ----- ----- ----- -----

Status ----- ----- ----- ----- ----- ----- ----- ----- Project completed

Plant being set up

Financing Pattern

----- ----- ----- ----- ----- ----- ----- -----

Financial Institutions/Internal Accruals

Loans - FIs/Internal Accruals

Financial Collaborators

----- ----- ----- ----- ----- ----- ----- ----- ----- -----

District ----- ----- ----- ----- ----- ----- ----- ----- Kachigaon Kachigaon

State ----- ----- ----- ----- ----- ----- ----- ----- Union Territory

-----

Collaborator Country

----- ----- ----- ----- ----- ----- ----- ----- ----- -----

Project Consultants

----- ----- ----- ----- ----- ----- ----- ----- ----- -----

Project Type

No New Project

No New Project

No New Project

No New Project

No New Project

No New Project

No New Project

No New Project

New Project Expansion

Source : http://www.capitalmarket.com

Navneet Publications (India) Ltd Company ResultsRs. Crs.

Year 200309 200203 Var(%) 200403 200209 Var(%) 200403 200303 Var(%)

Type1st Half

1st Half

2nd Half

2nd Half

Full Year

Full Year

Sales Turnover

174.69 65.39 167.15 78.16 179.04 -56.34 252.85 323.45 -21.83

Other Income

3.03 2.17 39.63 5.39 1.57 243.31 8.42 6.13 37.36

Total Income

177.72 67.56 163.06 83.55 180.61 -53.74 261.27 329.58 -20.73

Total Expenditure

132.98 55.64 139.00 65.60 135.44 -51.57 198.58 259.55 -23.49

Operating Profit

44.74 11.92 275.34 17.95 45.17 -60.26 62.69 70.03 -10.48

Interest 1.32 1.32 0.00 0.56 2.29 -75.55 1.88 4.94 -61.94

Gross Profit

43.42 10.60 309.62 17.39 42.88 -59.44 60.81 65.09 -6.58

Depreciation

4.30 2.82 52.48 4.63 4.07 13.76 8.93 11.44 -21.94

Tax 11.46 1.80 536.67 4.49 11.65 -61.46 15.95 15.22 4.80

Reported PAT

27.06 5.73 372.25 8.09 26.64 -69.63 35.15 37.41 -6.04

Dividend (%)

0.00 0.00 N.A. 0.00 0.00 N.A. 75.00 0.00 N.A.


Navneet Publications (India) Ltd Balance Sheet Rs. Cr

Year Mar 04 Mar 03 Sep 01 Sep 00 Sep 99

Share Capital 19.06 19.06 19.06 19.06 9.53

Reserves & Surplus 139.36 120.35 100.60 82.98 73.98

Total Shareholders Funds 158.42 139.41 119.66 102.04 83.51

Secured Loans 12.82 43.74 0.39 0.77 1.29

Unsecured Loans 65.33 26.66 0.00 0.00 0.00

Total Debt 78.15 70.40 0.39 0.77 1.29

Total Liabilities 236.57 209.81 120.05 102.81 84.80

Gross Block 119.11 109.09 71.95 60.62 53.42

Less: Accum. Depreciation 51.42 43.23 32.68 27.76 23.67

Net Block 67.69 65.86 39.27 32.86 29.75

Capital Work in Progress 0.12 2.55 5.57 5.37 2.83

Investments 27.85 13.00 12.54 2.52 0.00

Inventories 106.60 90.15 36.97 35.81 25.91

Sundry Debtors 43.99 51.85 36.74 27.61 22.59

Cash and Bank Balance 3.23 1.88 3.56 2.62 1.66

Loans and Advances 12.45 17.32 18.11 22.03 20.14

Current Liabilities 19.47 19.63 14.86 10.83 7.03

Provisions 5.89 13.18 17.89 15.30 11.28

Net Current Assets 140.91 128.39 62.63 61.94 51.99

Miscellaneous Expenses not w/o 0.00 0.01 0.04 0.12 0.23

Total Assets 236.57 209.81 120.05 102.81 84.80

Contingent Liabilities 3.35 7.88 6.65 10.92 6.42 Source : http://www.capitalmarket.com

Navneet Publications (India) Ltd Balance Sheet - Aggregates

Year

CompanyNavneet Publicat199103

IndustryPrinting & StationeryLatest

HouseIndian PrivateLatest

All IndustriesLatest

SOURCES OF FUNDS :

Share Capital 19.06 574.42 66,047.80 310,662.53

Reserves & Surplus 139.36 2,867.32 60,170.07 556,176.21

Total Shareholders Funds 158.42 3,441.74 126,217.87 866,838.74

Secured Loans 12.82 859.93 108,589.92 694,792.79

Unsecured Loans 65.33 336.12 148,794.04 2,048,061.08

Total Debt 78.15 1,196.05 257,383.96 2,742,853.87

Total Liabilities 236.57 4,637.79 383,601.83 3,609,692.61

APPLICATION OF FUNDS :

Gross Block 119.11 3,413.11 190,051.33 1,282,692.68

Less: Accum. Depreciation 51.42 1,433.63 62,572.54 497,419.28

Net Block 67.69 1,979.48 127,478.79 785,273.40

Capital Work in Progress 0.12 108.95 14,480.81 144,120.84

Investments 27.85 1,461.23 79,106.54 1,063,453.28

Current Assets, Loans & Advances

Inventories 106.60 690.73 53,702.79 241,699.06

Sundry Debtors 43.99 948.05 53,094.05 215,930.17

Cash and Bank Balance 3.23 359.44 32,131.03 328,952.29

Loans and Advances 12.45 505.72 115,375.98 1,632,068.22

Less: Current Liab. & Prov.

Current Liabilities 19.47 1,217.45 83,706.88 690,112.30

Provisions 5.89 219.14 11,108.56 128,778.83

Net Current Assets 140.91 1,067.35 159,488.41 1,599,758.61

Miscellaneous Expenses not w/o 0.00 20.78 3,047.28 17,088.55

Total Assets 236.57 4,637.79 383,601.83 3,609,694.68

Contingent Liabilities 3.35 464.48 74,113.36 1,658,917.15 Source : http://www.capitalmarket.com

Navneet Publications (India) Ltd Balance Sheet Schedules

Year

Share Capital

Equity Authorised

Preference Capital Authorised

Unclassified Authorised

Equity Issued

Equity Subscribed

Equity Called Up

Less : Equity Calls in Arrears

Equity Forfeited

Equity Suspense

Adjustments to equity

Equity Paid Up

Preference Capital Paid Up

Unclassified Shares paid -up

TOTAL SHARE CAPITAL

Equity converted during the year

GDRs Issued During the Year

Bonus in Equity

Reserves & Surplus

Development Rebate Reserve

Capital Reserves

Investment Allowance Reserve

Debenture Redemption Reserve

Capital Redemption Reserve

Debt Redemption Reserve

Export Allowance/Profits Reserve

Foreign Exchange Earnings Reserve

Exchange fluctuation Reserve

Amalgamation Reserve

Taxation Reserve

Deffered Credit Reserve

Special Reserve

Special Appropriation to projects

Share Premium

General Reserves

Other Reserves

Profit & Loss A/c

TOTAL RESERVES EXCLUDING REVALUATION RESERVES

Revaluation Reserve

TOTAL RESERVES AND SURPLUS

Secured Loans

Convertible Debentures

Non Convertible Debentures

Partly Convertible Debentures

Less : Debentures Calls in arrears

Term Loans Institutions

Term Loans Banks

Term Loans Others

Deferred Credit_Fixed Assets/H.P.

Bridge Loans

Deferred Liabilities

Deferred Tax

Security Deposits

Unsecured Loans Others

Commercial Paper

Other Deposits

Fixed Deposits

TOTAL UNSECURED LOANS

Gross Block

Goodwill

Free Hold Land

Lease Hold Land

Railway Sidings

Buildings

Plant and Machinery

Ships & Vessels

Aircraft

Vehicles

Electrical Installations & Fittings

Furniture and Fixtures

Factory Equipments

Office Equipments

Computers

Lab/ R & D Equipments

Technical Knowhow

Other Fixed Assets

TOTAL GROSS BLOCK

Leased Assets included in above

Investments

Quoted Government Securities

Unquoted Government Securities

Quoted Equity

Unquoted Equity

Quoted Debentures/Bonds

Unquoted Debentures/Bonds

Quoted Units

Unquoted Units

Other Investments

TOTAL INVESTMENTS

Investment in Subsidiaries & Group Co.'s

Market Value Of Quoted Investments

Inventories

Raw Materials Inventory

Work in Progress

Finished Goods

Stores and Spares

Investment as Stock-in-Trade

Other Inventory

TOTAL INVENTORY

Sundry Debtors

Debtors more than Six months

Debtors Others

Less : Provisions for Doubtful Debts

TOTAL SUNDRY DEBTORS

Loans and Advances

Loans to Subsidiary

Loans to Others

Deposits with Government

Deposits Others

Bills Receivable

Less : Provision for Dobtful Advances

Advance Tax

Interest Accrued on Investments

Other Current Assets

TOTAL LOANS AND ADVANCES

Current Liabilities

Creditors

Acceptances

Advance from customers

Trade & Other Deposits

Unclaimed Dividend

Share Application Money

Interest Accrued But Not Due

Other Liabilities

TOTAL CURRENT LIABILITIES

Provisions

Provision for Tax

Provision for Gratuity

Provision for Proposed Dividend

Provision for Contingencies

Other Provisions

TOTAL PROVISIONS

Miscellaneous Expenses not w/o

Discount on issue of shares

Discount on issue of Debentures

Preliminary Expenses

Deferred revenue expenses

Preoperative/Trial run Expenditure

Promoter's Expenses

Debenture/Share Issue expenses

Royalty/Liscense fees/ Techical Know-how

Other Miscellaneous expense not written off

TOTAL MISCELLANEOUS EXPENSE NOT WRITTEN OFF

Contingent Liabilities

Claims not acknowledged as debt

Guarantees undertaken

Letter of Credit

Bills Discounted

Disputed Income Tax

Disputed Sales Tax

Disputed Excise Duty

Other Disputed Claims

Uncalled Liability on Shares

Others

TOTAL CONTINGENT LIABILITY


Navneet Publications (India) Ltd Profit & Loss A/c Rs. Cr

Year Mar 04 Mar 03(18) Sep 01 Sep 00 Sep 99

Sales Turnover 252.85 323.45 217.35 174.82 141.31

Other Income 8.50 5.66 4.23 4.58 4.22

Stock Adjustments 14.23 42.17 1.13 1.24 4.04

Total Income 275.58 371.28 222.71 180.64 149.57

Raw Materials 145.05 209.85 112.88 87.77 76.40

Excise Duty 0.00 0.00 0.00 0.00 0.00

Power & Fuel Cost 1.30 1.93 1.09 0.87 0.68

Other Manufacturing Expenses 14.81 21.66 13.78 12.84 11.81

Employee Cost 16.31 17.78 8.30 7.06 5.75

Selling and Administration Expenses

32.81 47.07 29.02 24.57 18.91

Miscellaneous Expenses 2.35 3.44 2.44 1.29 0.19

Less: Preoperative Expenditure Capitalised

0.00 0.00 0.00 0.00 0.00

Profit before Interest, Depreciation & Tax

62.95 69.55 55.20 46.24 35.83

Interest & Financial Charges 2.12 4.94 3.53 2.57 0.75

Profit before Depreciation & Tax 60.83 64.61 51.67 43.67 35.08

Depreciation 8.93 11.44 5.19 4.41 4.03

Profit Before Tax 51.90 53.17 46.48 39.26 31.05

Tax 16.73 16.24 14.26 11.10 7.30

Profit After Tax 35.17 36.93 32.22 28.16 23.75

Adjustment below Net Profit -0.02 0.48 -3.04 -0.10 0.00

P & L Balance brought forward 70.35 60.60 48.97 36.17 27.98

Appropriations 26.14 27.66 17.55 15.26 15.56

P & L Bal. carried down 79.36 70.35 60.60 48.97 36.17

Equity Dividend 14.29 16.20 10.48 7.82 9.62

Preference Dividend 0.00 0.00 0.00 0.00 0.00

Corporate Dividend Tax 1.85 1.46 1.07 1.72 1.06

Equity Dividend (%) 75.00 56.67 55.00 41.00 101.00

Earning Per Share (Rs.) 17.48 12.41 16.34 13.87 23.81

Book Value 83.12 73.14 62.78 53.54 87.63

Extraordinary Items -0.06 0.04 0.00 0.01 0.05 Source : http://www.capitalmarket.com

Navneet Publications (India) Ltd Financial Ratios Rs. Crs.

Year Mar 04 Mar 03 Sep 01 Sep 00 Sep 99

Debt-Equity Ratio 0.50 0.27 0.01 0.01 0.04

Long Term Debt-Equity Ratio 0.31 0.10 0.01 0.01 0.04

Current Ratio 2.85 2.33 3.12 3.56 3.96

TURNOVER RATIOS 2.22 2.38 3.28 3.07 2.74

Inventory 2.57 3.39 5.97 5.66 6.57

Debtors 5.28 4.87 6.76 6.96 6.27

Interest Cover Ratio 25.48 11.76 14.17 16.28 42.40

Operating Profit Margin(%) 24.90 21.50 25.40 26.45 25.36

Profit Before Interest And Tax Margin(%)

21.36 17.97 23.01 23.93 22.50

Cash Profit Margin(%) 17.44 14.95 17.21 18.63 19.66

Adjusted Net Profit Margin(%) 13.91 11.42 14.82 16.11 16.81

Return On Capital Employed(%) 24.20 23.49 44.91 44.68 39.94

Return On Net Worth(%) 23.62 19.01 29.07 30.35 30.85 Source : http://www.capitalmarket.com

Navneet Publications (India) Ltd Shareholding Pattern

Description (S.P As on 3/29/1995)

No of Shares % Share Holding

Foreign Collaborators 0 0.00

Foreign Institutions 189600 3.99

Foreign Nationals 0 0.00

NRI 180100 3.79

Other Foreign Holdings 0 0.00

Total Foreign 369700 7.78

LIC 0 0.00

UTI 44600 0.94

I F C I 0 0.00

I D B I 0 0.00

I C I C I 0 0.00

GIC & Its Subsidiaries 0 0.00

Nationalised Banks 366400 7.71

Mutual Fund 295600 6.22

Institution Others 0 0.00

Total Institutions 706600 14.87

Govt. Companies 0 0.00

Central Govt. 0 0.00

State Govt. 0 0.00

SFCs 0 0.00

Total Govt. Holdings 0 0.00

Holding Companies 0 0.00

Subsidiary Companies 0 0.00

Other Bodies Corporates 1246050 26.22

Total Company 1246050 26.22

Directors & Their Relatives 1187150 24.98

Promoters 0 0.00

Total Promoters 1187150 24.98

Public 1242900 26.15

Employees 0 0.00

Total Public 1242900 26.15

Totals 4752400 100.00 Source : http://www.capitalmarket.com Navneet Publications (India) Ltd Share Price

Rs.

Year High Low Close P/E High P/E Low P/E Close Mkt Cap. Rs. Crs.

Sep 04 206.80 171.60 189.65 11.83 9.82 10.85 361.47

Aug 04 172.80 144.00 170.80 9.89 8.24 9.77 325.54

Jul 04 148.95 135.00 147.05 8.52 7.72 8.41 280.28

Jun 04 152.00 132.00 137.55 8.70 7.55 7.87 262.17

May 04 165.00 130.00 135.70 9.44 7.44 7.76 258.64


Apr 04 179.80 149.00 158.20 10.29 8.52 9.05 301.53

Mar 04 169.00 134.00 154.80 9.67 7.67 8.86 295.05

Feb 04 193.70 162.00 163.00 15.61 13.05 13.13 310.68

Jan 04 243.00 176.50 185.45 19.58 14.22 14.94 353.47

Dec 03 256.75 165.50 232.00 20.69 13.34 18.69 442.19


Nov 03 177.50 148.00 163.50 14.30 11.93 13.17 311.63

Oct 03 168.00 142.50 154.85 13.54 11.48 12.48 295.14

Sep 03 158.90 135.25 143.05 12.80 10.90 11.53 272.65

Aug 03 156.45 132.00 140.60 12.61 10.64 11.33 267.98

Jul 03 160.00 130.10 137.05 12.89 10.48 11.04 261.22


Jun 03 141.00 123.00 129.60 11.36 9.91 10.44 247.02

May 03 135.00 105.50 132.05 10.88 8.50 10.64 251.69

Apr 03 118.90 107.00 112.95 9.58 8.62 9.10 215.28

Mar 03 128.95 102.00 105.10 10.39 8.22 8.47 200.32

Feb 03 129.00 115.45 122.85 7.89 7.07 7.52 234.15


Jan 03 145.75 124.00 125.05 8.92 7.59 7.65 238.35

Dec 02 145.00 130.00 131.85 8.87 7.96 8.07 251.31

Nov 02 142.00 127.00 140.20 8.69 7.77 8.58 267.22

Oct 02 145.10 132.00 138.50 8.88 8.08 8.48 263.98

Sep 02 156.85 140.00 143.85 9.60 8.57 8.80 274.18


Aug 02 164.00 144.10 153.50 10.04 8.82 9.39 292.57

Jul 02 186.90 154.10 157.00 11.44 9.43 9.61 299.24

Jun 02 208.00 163.00 182.75 12.73 9.98 11.18 348.32

May 02 204.95 160.05 169.75 12.54 9.79 10.39 323.54

Apr 02 219.00 165.00 189.45 13.40 10.10 11.59 361.09


Mar 02 187.50 155.00 172.50 11.47 9.49 10.56 328.79

Feb 02 174.30 156.90 164.00 10.67 9.60 10.04 312.58

Jan 02 183.90 160.00 173.50 11.25 9.79 10.62 330.69

Dec 01 225.00 171.00 180.00 13.77 10.47 11.02 343.08

Nov 01 175.00 145.20 174.55 10.71 8.89 10.68 332.69


Oct 01 186.45 154.70 165.05 11.41 9.47 10.10 314.59

Sep 01 174.90 145.00 167.90 10.70 8.87 10.28 320.02

Aug 01 177.00 151.05 171.00 12.76 10.89 12.33 325.93

Jul 01 194.00 150.00 172.00 13.99 10.81 12.40 327.83

Jun 01 181.30 159.00 161.90 13.07 11.46 11.67 308.58


May 01 171.50 145.50 169.50 12.36 10.49 12.22 323.07

Apr 01 166.00 122.10 150.50 11.97 8.80 10.85 286.85

Mar 01 194.85 140.00 140.50 14.05 10.09 10.13 267.79

Feb 01 194.95 159.10 180.00 14.06 11.47 12.98 343.08

Jan 01 203.00 154.00 172.50 14.64 11.10 12.44 328.79


Dec 00 170.40 145.00 158.50 12.29 10.45 11.43 302.10

Nov 00 158.00 136.05 146.00 11.39 9.81 10.53 278.28

Oct 00 192.50 118.00 150.00 13.88 8.51 10.81 285.90

Sep 00 225.00 170.25 188.05 16.22 12.27 13.56 358.42

Aug 00 248.25 190.00 200.05 10.43 7.98 8.40 381.30


Jul 00 298.50 204.00 235.00 12.54 8.57 9.87 447.91

Jun 00 285.55 225.10 284.80 11.99 9.45 11.96 542.83

May 00 266.00 220.00 250.00 11.17 9.24 10.50 476.50

Apr 00 345.00 240.50 250.20 14.49 10.10 10.51 476.88

Mar 00 325.00 260.00 292.70 13.65 10.92 12.29 557.89


Feb 00 470.00 295.80 295.80 19.74 12.42 12.42 563.79

Jan 00 493.88 364.50 375.00 20.74 15.31 15.75 714.75

Dec 99 412.50 226.00 338.00 17.32 9.49 14.20 644.23

Nov 99 256.25 218.50 233.88 10.76 9.18 9.82 445.77

Oct 99 317.50 266.10 268.63 13.33 11.18 11.28 512.00 Source : http://www.capitalmarket.com

Navneet Publications (India) Ltd QuarterlyRs. Crs.

Year200406

200306

Var(%)

200309

200203

Var(%)

200312

200206

Var(%)

200403

200209

Var(%)

200212

200303

200403

200303

Var(%)

Type1st Qtr

1st Qtr

Var(%)

2nd Qtr

2nd Qtr

Var(%)

3rd Qtr

3rd Qtr

Var(%)

4th Qtr

4th Qtr

Var(%)

5th Qtr

Full Year

Full Year

Var(%)

Sales Turnover

147.16

137.64

6.92

37.16

35.10

5.87

36.64

141.97

-74.19

42.68

37.07

15.13

33.04

46.14

252.85

323.45

-21.83

Other Income

1.10

0.79

39.24

2.16

0.99

118.18

0.86

1.00

-14.00

3.80

0.57

566.67

0.79

1.05

8.42

6.13

37.36

Total Income

148.26

138.43

7.10

39.32

36.09

8.95

37.50

142.97

-73.77

46.48

37.64

23.49

33.83

47.19

261.27

329.58

-20.73

Total Expenditure

110.28

100.28

9.97

32.73

30.49

7.35

30.32

101.86

-70.23

35.72

33.58

6.37

28.62

40.16

198.58

259.55

-23.49

Operating Profit

37.98

38.15

-0.45

6.59

5.60

17.68

7.18

41.11

-82.53

10.76

4.06

165.02

5.21

7.03

62.69

70.03

-10.48

Interest0.70

0.73

-4.11

0.56

0.82

-31.71

0.34

1.69

-79.88

0.45

0.60

-25.00

0.55

0.78

1.88

4.94

-61.94

Gross Profit

37.28

37.42

-0.37

6.03

4.78

26.15

6.84

39.42

-82.65

10.31

3.46

197.98

4.66

6.25

60.81

65.09

-6.58

Depreciation

2.09

2.11

-0.95

2.19

1.40

56.43

2.31

1.98

16.67

2.37

2.09

13.40

2.14

2.41

8.93

11.44

-21.94

Tax11.00

10.41

5.67

1.05

0.55

90.91

1.75

12.15

-85.60

2.90

-0.50

N.A.

0.60

0.67

15.95

15.22

4.80

Reported PAT

24.17

24.65

-1.95

2.44

2.60

-6.15

2.77

25.01

-88.92

4.39

1.63

169.33

1.76

2.99

35.15

37.41

-6.04

200406 Quarter 1 --------------- Notes Other Income Interest Income Rs 8.230 million Other Income Rs 2.805 million Expenditure includes Increase/Decrease in stock in Trade Rs 411.069 million Consumption of Raw Material & (Manufacturing Costs) Rs 447.025 million Staff Cost Rs 49.850 million Other expenditure Rs 194.855 million Tax Includes Provision for Taxation Rs 110.00 million Provision for Deferred Tax Rs 0.188 million Status of Investors Complaints for the quarter ended June 30, 2004 Complaints pending at the beginning of the quarter NIL Complaints received during the quarter 16 Complaints disposed off during the quarter 16 Complaints unresolved at the end of the quarter NIL 1. The above financial results were taken on record at the Board meeting held on July 30, 2004. 2. The Board recommended final dividend of Rs 2.50 per share (25%) over and above Interim Dividend of 50% already paid in February 2004. 3. The Auditors of the company have carried out the Limited Review of unaudited financial results in terms of Clause 41 of the Listing Agreement. 4. In view of the seasonal nature of business, financial results of this quarter of the year are not representative of the operations of the company as a whole. 5. Total expenditure includes an amount of Rs 56.417 million on account of translation of Foreign Currency Loans and forward cover as against a gain of Rs 0.444 million in the corresponding quarter of the previous year. 6. Figures

are regrouped wherever necessary. 200306 Quarter 1 ---ì¥Á267

2626ø¿26262626262626262626262626•Â 2626bjbjUU262626262626262626262626262626262626

26wŠ267|26267|2626&º 2626262626262626262626262626262626262626262626262626262626ÿÿ¤262626262626262626ÿÿ¤262626262626262626ÿÿ¤2626262626262626262626262626262626l2626262626$

262626262626$ 2626$ 262626262626$ 262626262626$ 262626262626$ 262626262626$ 2626µ2626262626262626262626P262626262626ÜP262626262626ÜP262626262626ÜP262626262626ÜP2626dì¥Á267 2626ø¿26262626262626262626262626•Â 2626bjbjUU262626262626262626262626262626262626 26wŠ267|26267|2626&º 2626262626262626262626262626262626262626262626262626262626ÿÿ¤262626262626262626ÿÿ¤262626262626262626ÿÿ¤2626262626262626262626262626262626l2626262626$ 262626262626$ 2626$ 262626262626$ 262626262626$ 262626262626$ 262626262626$ 2626µ2626262626262626262626P262626262626ÜP262626262626ÜP262626262626ÜP262626262626ÜP2626dure of business, financial results of this quarter of the year are not representative of the operations of the Company for the year as a whole. 3. Figures have been regrouped wherever necessary. 4. The details of number of investor complaints for the quarter ended June 30, 2003 Beginning NIL Received 15 Disposed off 15 Pending NIL. 200309 Quarter 2 --------------- Notes Other Income Includes Interest Income Rs 5.173 million Others Rs 16.436 million Expenditure includes Increase/Decrease in stock in Trade Rs 39.385 million Consumption of Raw Material Rs 170.632 million Staff Cost Rs 41.586 million Other expenditure Rs 75.744 million Provision for Taxation Includes Current Tax Rs 10.50 million Deferred Tax Rs 3.488 million EPS is Basic & Diluted Status of Investors Complaints for the quarter ended September 30, 2003 Complaints pending at the beginning of the quarter Nil Complaints received during the quarter 24 Complaints disposed off during the quarter 24 Complaints unresolved at the end of the quarter Nil 1. The above financial results were taken on record at the Board meeting held at Mumbai on October 21, 2003. 2.The Auditors of the Company have carried out the Limited Review of Unaudited financial results in terms of Clause 41 of the Listing Agreement. 3. In view of seasonal nature of business, financial results of this quarter of the year are not representative of the operations of the Company as a whole. 4.The Company had extended the previous accounting period to 18 months ended March 31, 20023. So figures for corresponding six months ended September 30, 2002 are not available. 5. Figures have been regrouped wherever necessary. 200203 Quarter 2 --------------- NOTES:- 1. In view of seasonal nature of the business, financial results of this quarter of the year are not representative of the operations of the Company for the year as a whole. 2. The Company's operations predominantly relate to selling of educational books and selling of stationery articles. Accordingly publications divisions and stationery division revenues represented along industry classes comprise the primary basis of segment information. 200312 Quarter 3 --------------- Notes Other Income includes Interest Income Rs 6.015 million Other Income Rs 2.606 million Expenditure includes Increase/Decrease in stock in Trade Rs 217.648 million Consumption of Raw Material Rs 404.762 million Staff Cost Rs 44.570 million Other expenditure Rs 71.501 million Provision

for Taxation includes Tax Rs 17.500 million Deferred Tax Rs 0.149 million EPS is Basic Status of Investors Complaints for the quarter ended December 31, 2003 Complaints pending at the beginning of the quarter Nil Complaints received during the quarter 23 Complaints disposed off during the quarter 23 Complaints unresolved at the end of the quarter Nil 1. The above financial results were taken on record at the Board Meeting held at Mumbai on January 22, 2004. 2. The Board announced Interim Dividend of 50% for the current Year. 3. The Auditors of the Company have carried out the Limited Review of unaudited financial results in terms of Clause 41 of the Listing Agreement. 4. In view of seasonal nature of business, financial results of this quarter of the year are not representative of the operations of the Company as a whole. 5. The Company has extended the previous Accounting Period to 18 months ended March 31, 2003. So figures for the corresponding nine months ended December 31, 2002 are not available. 6. Figures are regrouped wherever necessary. 200206 Quarter 3 --------------- Notes Other income Includes Interest Income Rs 9.804 million Other Income Rs 0.245 million Expenditure includes Increase/Decrease in stock in Trade Rs 275.742 million Consumption of Raw Material Rs 580.390 million Staff Cost Rs 22.335 million Other expenditure Rs 140.135 million Provision for Tax Includes Current Tax Rs 121.500 million Deferred Tax Rs 2.793 million 1.The above financial results were taken on record at the Board meeting held at Mumbai on July 29, 2002. 2.In view of seasonal nature of business financial results of this quarter of the year are not representative of the operations of the company for the year as a whole. 200403 Quarter 4 --------------- Notes Other Income includes Interest Income Rs 9.446 million Other Income Rs 28.493 million Expenditure includes Increase/Decrease in stock in Trade Rs (255.753) million Consumption of Raw Material Rs 482.688 million Staff Cost Rs 47.003 million Other expenditure Rs 83.309 million Tax includes Provision for Tax Rs 29.00 million Deferred Tax Rs 6.467 million EPS is Basic Status of Investors Complaints for the quarter ended March 31, 2004 Complaints pending at the beginning of the quarter Nil Complaints received during the quarter 18 Complaints disposed off during the quarter 18 Complaints unresolved at the end of the quarter Nil 1.The above financial results were taken on record at Board meeting held at Mumbai on April 27, 2004. 2.The Auditors of the Company have carried out the limited review of unaudited financial results in terms of Clause 41 of the listing agreement. 3.In view of seasonal nature of business financial results of this quarter of the year are not representative of the operations of the Company as a whole. 4.The Company had extended the previous accounting period to 18 months ended March 31, 2003 so figures for corresponding 12 months ended March 31, 2003 are not available. 5.Figures are regrouped wherever necessary. 6.Due to installation of SAP most of the expenses could be identified and debited to respective segment for current year, in absence of such information for corresponding period, the figures to that extent could not be regrouped for corresponding period. 7.Stationary segment shows higher profitability due to exchange fluctuation gain on account of revalorization of Foreign currency assets & Liabilities as on March 31, 2004 as per AS 11. 200209 Quarter 4 --------------- Notes Expenditure includes Increase/Decrease in stock in Trade Rs 51.608 million Consumption of Raw Material Rs 191.769 million Staff Cost Rs 21.107 million Other expenditure Rs 71.309 million Provision for Tax Includes Current Tax Rs 5.00 million Deferred Tax Rs 2.388 million EPS is Basic 1.The Financial year of company has been extended by six months making it an Accounting year of 18 months period from October 01, 2001 to March 31, 2003.

2.The Board has announced Interim dividend (Subject to Tax) of Rs 2.50 per share (25%) for which Record Date is November 12, 2002. 3.In view of seasonal nature of business financial results of this quarter of the year are not representative of the operations of the company for the year as a whole. 4.The above financial results were taken on record at the Board meeting held at Mumbai on October 28, 2002. 200212 Quarter 5 --------------- Notes Other Income includes Interest Income Rs 7.241 million Other Income Rs 0.648 million Expenditure includes Increase/Decrease in stock in Trade Rs 168.214 million Consumption of Raw Material Rs 354.356 million Staff Cost Rs 22.130 million Other expenditure Rs 77.908 million Provision for Tax Includes Current Tax Rs 6.00 million Deferred Tax Rs 1.638 million EP

CHAIRMAN'S SPEECH NAVNEET PUBLICATIONS (INDIA) LIMITED ANNUAL REPORT 2003-2004 CHAIRMAN'S REPORT Chairman's Communique Dear Shareowners, Once again it gives me immense pleasure to give you an update on the performance of the Company for the year ended 31st March, 2004. As all of you know well, the Indian economy surged in most of the Industrial areas of activities, which coupled with a good monsoon during 2003 gave an overall boost. The only factor which restricted growth of the economy including that of your Company was a recessionary trend in the developed countries, particularly the US. The annual numbers of last year, which represented an 18 month period, are not directly comparable to the numbers under review. Overall the Company did grow well in Export of Publications and Domestic sales of stationery products. As was mentioned last year, due to continuation of the same textbooks (same curriculum) in both areas of our major operations, i.e. in Maharashtra and Gujarat, your Company could not grow in the educational books segment. Rupee appreciation coupled with severe competition from other countries was a major setback to our Exports of stationery products. In the current year the position of Exports has not really improved in the first quarter. However due to change in the curriculum of few standards in Gujarat, reasonable growth is seen in educational books segment. Our Madhya Pradesh initiative is making inroads in major parts of the State. With the successful launch in the first year, your Company has decided to script a success story in Madhya Pradesh by expanding the product range and best quality books on the similar lines of your Company's success in the States of Maharashtra and Gujarat. Your Company has decided to downsize the operations of its subsidiary and accordingly the increase in losses accrued till last year will reduce substantially. The

products (CD ROMs) of this Company have been further accepted among the educational fraternity but the present revenues still do not justify economics of the operations. Your Company will expand in this area as and when the technology is accepted well. Till such time the Company will continue to give major thrust to publication of books. SAP (Business Process Systems) has augured well in synchronising information flow which enabled all round smoothening of operations of the Company. The success is attributable to the dedicated employee force of your Company who have worked very hard and proved that it is one of the best available systems. Your Company has already started reaping the benefits of such integration of all locations and all areas of activities. I once again reiterate that your Company is slowly and gradually moving towards fulfilling its mission. Shivji K. Vikamsey

The Directors have pleasure in presenting their Eighteenth Annual Report together with the Audited Statement of Accounts of the Company for the year ended 31st March, 2004.

(h) (i) Add / (Less) : Provision of tax for earlier years (2.95) 47.33 (i) Add : Balance brought forward from last year 7034.61 6060.38

Your Directors are glad to inform you that the Company had paid first interim dividend of 50% in February, 2004 and has proposed 25% final dividend, making the total dividend for the year of Rs.7.50 per share (7.50%) on 1,90,57,200 equity shares of Rs.10/each. Your Directors have pleasure in informing you that the dividend pay-out including corporate tax on dividend works out to 45.87% as against your Company's liberal dividend policy of distribution of minimum of 25% of profit after tax.

(iii) After providing Rs.893 Lacs and Rs.1673 Lacs for depreciation0and tax respectively, the profit after tax stood at Rs.3517 Lacs.

The Corporate Government requirements were complied with by the Company. The detailed Compliance Report and the Auditor's Report thereon is set out elsewhere in this Report.

This division mainly comprises of educational books based on curriculum of Gujarat, Maharashtra, Madhya Pradesh and CBSE curriculum. This division publishes numerous educational books for the kindergarten kids to the students of XII in English, Hindi and Marathi languages on the syllabus of States of Gujarat, Maharashtra, Madhya Pradesh, CBSE and ICSE curriculum. This division also focuses on continually increasing the number of titles in the children's and general books category, which are not based on syllabus but helps students improve their other skills and aptitude, making learning an enjoyable experience for them.

The exports of such children's publications have been encouraging year after year. The turnover of the whole division for the year under review was Rs.14218 Lacs.

Your Company has been gaining ground in Madhya Pradesh and is expected to repeat success story of the Company as in the States of Gujarat and Maharashtra by replicating the past experience in adding and positioning of titles in Madhya Pradesh.

The Paper Stationery Division has been successful in bringing out innovative ideas in the domestic as well as international market by translating those ideas into well thought of and well positioned quality stationery products. The Company has very wide distribution network across India and has been able to export quality stationery products in US and African markets despite facing global competition. Appreciation of the rupee did restrict the expected growth in the International Market.

Networth of your Company increased from Rs.13941 Lacs to Rs.15841 Lacs. Your Company does not have any long term debt. Company utilises the credit facilities to finance the working capital requirements.

Your Company awarded the Top Exporter Award for meritorious export performance in export of book publication, printing and printed material by CAPEXIL on 7th November, 2003. Your Company has been receiving awards for the past four years, for its consistent good show on the exports front.

Your Company continued to be rated as P1+ (pronounced as P one Plus) for its short term debt programmes by CRISIL. This rating 21 indicates a very strong degree of safety with regard to timely payment of interest and principal on instrument.

Shri Dungarshi R. Gala, Shri Jitendra L. Gala and Shri Ashok M. Nadkarni are retiring by rotation at the ensuing Annual General Meeting and have offered themselves for their re-appointment. The brief resume in respect of them is set out in the Corporate Governance Report.

1,79,56,190 Shares representing 94.22% of paid up equity share capital were de-materialised as on 30th June, 2004.

(a) CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO.

The information as required under the Companies (Disclosure of Particulars in the Report of Directors) Rules, 1988 is given in Annexure A to this Report.

As required by the provisions of Section 217(2A) of the Companies Act, 1956, read with Companies (Particulars of Employees) Rules, 1975 as amended, the names and other particulars of the employees are set out in the Annexure B to this Report. However, as per the provisions of Section 219 (1) (b) (iv) of the Companies Act, 1956, the Report and the accounts are being sent to all shareholders of the Company excluding Annexure B. Any shareholder interested in obtaining such particulars may write to the Company Secretary at the Registered Office of the Company.

M/s. Ghalla & Bhansali, Statutory Auditors of the Company, hold office till the conclusion of the ensuing Annual General Meeting. The Company has received a Certificate from them to the effect that their re-appointment if made would be within the prescribed limit of Section 224 (1B) of the Companies Act, 1956.

During the year under review there was harmonious relationship between management and employees at all levels.

(b) that the directors have selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit or loss of the Company for that period.

(c) that the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

323232323232323232323232 32wŠ327|32327|3232&º ÿÿ¤323232323232323232ÿÿ¤3232323232323232323232323232323232l3232323232$ 323232323232$ 3232$ 323232323232$ 323232ÜP3232dì¥Á327 3232ø¿32323232323232323232323232•Â 3232bjbjUU323232323232323232323232323232323232

ÿÿ¤323232323232323232ÿÿ¤3232323232323232323232323232323232l3232323232$ 323232323232$ 3232$ 323232323232$ 323232ÜP3232dehalf of the Board of Directors

Particulars required under the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988.

Company's plant was designed to achieve high efficiency in the utilisation of energy. The key areas with regards to reduction of energy are identified and constant efforts are made towards energy conservation.

Through visits of technical personnel to developed Western countries, the Company keeps abreast with the advanced Technology Development and through specific programmes introduces, adopts and absorbs these sophisticated technologies.

In view of the above, the Company has been able to achieve a higher production,, accuracy and perfection in printing.

Creating awareness of publishers' products is an art by itself. Direct contacts with thousands of schools, teaching community and trade are the basics behind this great success. With over 400 employees specially designated to keep direct contacts and explain the benefits of Navneet's publications and stationery products is the key strength of Navneet's field force. A localized brand before 5 years is now national in all respects and also becoming an international brand, particularly among young NRI's.

Direct contacts with over 60,000 retail outlets and over 20,000 schools by the field force of the Company ensures availability of all products throughout the year.

Navneet's content is accepted over the years. Many debates among the education fraternity have ended referring to Navneet's content. Continuous delivery of quality content has made users accepting Navneet's products without any hesitation.

Education has to be for the masses. Spending on education has always been a concern among the parents in our country. Navneet has believed in selling all its products at affordable prices and within reach of the masses.

The focus of the Company has always been to create and maximize the Shareholders' value. As stated last year, SAP implementation has completed one year. The Company did face several issues before settling down successfully, The dedicated team efforts across the Company have paid dividends in implementation. The benefit of such implementation would start accruing hereinafter with the optimum utilization of all its resources.

Kaizen Practices at most of the production facilities have increased the productivity and has benefited in proper planning throughout the year. With such benefit, your Company has decided to implement such practices in material movements and various marketing activities.

The Madhya Pradesh initiative of the Company, last year in a small way and this year in a little better way has proved that quality sells everywhere. It is a great opportunity for the Company to create content for maximum number of titles for this new area and complete the whole range in the next 3 years. With proper planning,

For both the business divisions of the Company, no huge capex is required in the near future. With that in mind, the Company continues to have a liberal dividend policy as earlier. Your Company has already paid Rs. 5/- per share as an interim dividend and further has proposed a final dividend of Rs. 2.50 per share, which make the total dividend for the year under review of Rs. 7.50 per share (75%). The total dividend pay out works out to 40.63% against the Company's liberal dividend policy of declaring at least 25%.

The Company has basically two major business Divisions, namely "Book Publishing" and "Paper stationery".

The Book Publishing Division comprises two major categories of books, "Educational Books" and "Children and General Books".

As discussed last year and also as stated by your chairman, static syllabus for last several years in both the states of operations has restricted the growth of Educational Books category. Second hand book market is a dampener for the growth of this category of Books. With the successful launch of the Madhya Pradesh curriculum based books and definite plans of changing curriculum from current year in both the states shows a positive outlook for the next few years for your Company.

Children and General books category continues to grow across India and particularly in international markets. With the help of dedicated and creative team within the Company, your Company has been able to successfully launch new products for international markets and also able to conceptualize various products which are accepted by several international buyers with a few changes. Your management is confident on generating huge volumes in this category of publications.

Your Company basically deals in scholastic stationery products. There is lot of competition in domestic stationery market, with many unorganized players, but with the strong brand, consistent business policies (contrary to the trade), the Company's policy of creating value addition in each and every product, and systematic distribution systems has helped this business to grow successfully. The recent 'Tight Bound' notebook series, a unique concept of binding for the benefit of students has literally surprised the unorganized markets. Creating awareness among institutions for usage of quality products also helps this division to grow rapidly.

Your Company has decided to introduce more and more value added products including few office stationery products in the coming years.

Company's stationery business could grow substantially only because of continuous growth in the international market. Competition is growing year after year. Appreciation of the Rupee has further worsened the salability in terms of pricing. With the help of Kaizen practices, your Company has been able to increase the productivity and eventually is able to compete. Surprisingly major US buyers have been focusing sourcing from India instead of fully relying on China. Your Company has started receiving inquires from such major buyers.

For International markets also, your Company conceptualizes value added stationery products and have started marketing such products in European markets.

Book Publishing Division 142.18 56.23%Stationery Division 104.68 41.40%Others 5.99 2.37%Total Turnover 252.85 100.00%

Frequently Asked Questions (F.A.Q.s) about industry outlook, opportunities, threats, risks and concerns.

In the case of Publications business, as explained last year, the primary reason for lower sales was that your Company saw static syllabus for last several years in both the states of its operations.

Stationery sales in domestic market did better, but exports of stationery products faced dual challenges. One was the appreciation of INR against USD, the other being the competition from various countries. The competition from these countries was mainly on account of disparity in currency values of these competing

Your Company has a consistently bright future for at least next 3 years. Publication business is expected to grow because of continuous change in syllabus in the 2 states where we operate. Gujarat has already had an opportunity this year for change in syllabus of 2 standards. Maharashtra will have that benefit from next year as announced by the state government. The Madhya Pradesh initiative, though expectedly slow in progress, has started showing signs of a long and sustainable growth engine for your Company.

Stationery exports have also started looking up. Most of the developing countries are keen to buy from India as an alternate assured supplier. Your Company has already started receiving inquiries from big buyers from developing countries.

The operating margins of your Company have reduced in last 2 years mainly because of the product mix in revenue streams. Stationery offers lower margins than Publications. In the previous accounting period of 18 months, your Company had 2 lean periods. Hence the margins appear better this year compared to last year.

With various progressive initiatives undertaken together with focused attention on Publications revenues, your Company is likely to earn better operating margins in the coming years.

(4) Company was enjoying debt free status few years ago and now it has huge borrowing at the year-end. Why?

As you know, your Company has changed its accounting year from September to March last year. Every September, your Company enjoys and will enjoy debit status-this year as well as in future. Earlier too, each year your Company raised short term debts from banks to meet its peak level working capital requirement typically during the months February to May. All these loans are repaid fully during June to September every year.

Paper prices have remained stable for last 8 months. Recently it has moved up marginally. Your Company does not expect a rise in paper prices beyond 3%.

In the scenario of change in syllabus, it becomes very important for the Company to have facilities to print all required publications in very short time, for which, Company will modernize few of its printing facilities in the current year. Overall the capex investments of the Company will be around 1000 lacs.

The Company's CD-ROM products were well accepted among the student community. However, the volumes did not provide independent sustainability to the Company. This experience has been consistent for last 2 years and hence your Company has down sized the operations of its subsidiary. The Company will continue to

The Company had taken exposure to foreign currency in the form of Debtor, Borrowing and forward contracts meant for hedging against open debtors in Rupee appreciating scenario.

During the year under review the Company has booked gain of Rs. 890 Lacs mainly on account of revalution of Foreign currency assets and liabilities on Balance Sheet date as per AS11.

However the Company has booked a loss of Rs. 564 Lacs on account of revalution of Foreign currency assets and liabilities during 1st quarter of Financial year 2004-05.

3) Loans of Rs. 7814.71 lac (Rs.7040.66) lac are of short term in nature and have been treated as current liability and not included in capital employed.

4) Operating Margins for March 2003, are lower as it includes two on-peak period as against single peak period

1) March 03 figures are worked on the basis of 18 months.2) Ratios for March 03 are not annualized.

AUDITORS REPORT NAVNEET PUBLICATIONS (INDIA) LIMITED ANNUAL REPORT 2003-2004 AUDITORS' REPORT To The Members of Navneet Publications (India) Limited, We have audited the attached Balance Sheet of NAVNEET PUBLICATIONS (INDIA) LIMITED, as at 31st March 2004, the Profit and Loss Account and the Cash Flow Statement for the year ended on that date annexed thereto. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the auditing standards generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the

amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. 1. As required by the Companies (Auditor's Report) Order, 2003 issued by the Central Government of India in terms of subsection (4A) of section 227 of the Companies Act, 1956, we give in the Annexure attached here to, a statement on the matters specified in paragraphs 4 and 5 of the said Order. 2. Further to our comments in the Annexure referred to above, we report that: a) We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purposes of our audit; b) In our opinion, proper books of account as required by law have been kept by the Company so far as appears from our examination of those books. The Branch Auditor's Report has been forwarded to us and have been appropriately dealt with; c) The Balance sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account; d) In our opinion, the Balance sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report have been prepared in compliance with the applicable Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956; e) On the basis of written representations received from the directors, and taken on record by the Board of Directors, we report that none of the directors is disqualified as on 31st March 2004 from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956; f) In our opinion and to the best of our information and according to the explanations given to us, the said accounts, give the information required by the Companies Act, 1956, in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India: i. In the case of the balance sheet, of the state of affairs of the Company as at 31st March 2004; ii. In the case of the Profit and Loss account, of the profit for the year ended on that date; and iii. In the case of the Cash Flow Statement, of the cash flows for the year ended on that date. For Ghalla & Bhansali Chartered Accountants Place : Mumbai Haresh K.ChhedaDate : 30th July, 2004 Partner Membership No. 38262 Annexure to the Auditor's Report

(Referred to in paragraph 1 of our report of even date on the accounts for the year ended 31st March, 2004 of Navneet Publications (India) Limited) 1. a) The Company has maintained proper records showing full particulars, including quantitative details and situation of its fixed assets. b) All the assets have not been verified by the management during the year but, according to the information and explanations given to us, in our opinion the intervals for verification are reasonable having regard to the size of the Company and the nature of its assets. No material discrepancies were noticed on such verification. c) In our opinion, Fixed assets disposed off during the year were not substantial and therefore do not affect the going concern assumption. 2. a) In our opinion, the inventory of the Company has been physically verified by the management at reasonable intervals. In respect of inventory lying with third parties, these have substantially been confirmed by them. b) In our opinion and according to the information and explanations given to us, the procedures for physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the Company and nature of its business. c) In our opinion and according to the information and explanation given to us, the Company has maintained proper records of its inventories and discrepancies noticed on such physical verification between stock and the book records were not material. 3. According to information and explanations given to us, the Company has neither granted nor taken any loans, secured or unsecured, from companies, firms or other parties listed in the register maintained under Section 301 of the Companies Act, 1956. Consequently, the provisions of clause 4(iii) (b), (c) and (d) of the Companies (Auditor's Report) Order, 2003 are not applicable to the Company. 4. In our opinion and according to the information and explanations given to us, the Company has adequate internal control procedure commensurate with the size of the Company and nature of its business with regard to purchase of inventories and fixed assets and for the sale of goods. Further, on the basis of our examination and according to the information and explanations given to us, we have neither come across nor have we been informed of any instance of continuing failure to correct major weaknesses in internal control. 5. a) In our opinion and according to the information and explanations given to us, the transactions that needed to be entered in to the register in pursuance of section 301 of the Companies Act, 1956 have been so entered. b) In our opinion and according to the information and explanations given to us, the transactions made in pursuance of contracts or arrangements entered in the register maintained under Section 301 of the Companies Act, 1956 and exceeding value of Rs.5,00,000/- in respect of any party during the year have been made at prices which

are reasonable having regard to prevailing market prices at the relevant time. 6. The Company has not accepted any deposits from the public within the meaning of sections 58A and 58AA of the Companies Act, 1956 and the rules framed there under. 7. In our opinion, the Company has an adequate internal audit system commensurate with the size and nature of its business. The Company has also outsourced a section of internal audit function to independent internal auditors. 8. According to information and explanations given to us, the Central Government has not prescribed maintenance of cost records under Clause (d) of sub-section (1) of section 209 of the Companies Act, 1956, for the industry in which the Company operates. 9. a) According to the information and explanations given to us and according to the books and records as produced and examined by us, the undisputed statutory dues in respect of provident fund, investor education and protection fund, employees' state insurance, income tax, sales tax, wealth tax, customs duty, excise duty, cess and others as applicable have been regularly deposited by the Company during the year with the appropriate authorities. b) According to information and explanation given to us, there are no dues outstanding of sales tax, income tax, customs duty, wealth tax, excise duty and cess, which have not been deposited on account of any dispute. 10. The Company has neither accumulated losses at the end of the financial year 2004, nor it has incurred any cash losses during the financial year ended on that date and the immediately preceding financial year. 11. According to information and explanations given to us, the Company has not defaulted in repayment of dues to any financial institution or bank or debenture holders during the year. 12. According to the information and explanations given to us, the Company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities, and hence clause 4(xii) of the Companies (Auditor's Report) Order, 2003 is not applicable to the Company. 13. The Company is not a chit or a nidhi / mutual benefit fund/ society, therefore, the clause 4(xiii) of the Companies (Auditor's Report) Order, 2003 is not applicable to the Company. 14. In our opinion and according to the information and explanations given to us, the Company is not a dealer or trader in securities. Hence clause 4(xiv) of the Companies (Auditor's Report) Order, 2003 is not applicable to the Company. 15. According to information and explanations given to us, the Company has not given any guarantee for loans taken by others from banks or financial institutions.

16. The Company has not obtained any term loans. Accordingly, clause 4(xvi) of the Companies (Auditor's Report) Order, 2003 is not applicable to the Company. 17. According to the information and explanations given to us and on an overall examination of the balance sheet and cash flow of the Company, we report that no funds raised on short-term basis have been used for long-term investment and no long-term funds have been used to finance short-term assets (excludes permanent working capital). 18. The Company has not made any preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Companies Act, 1956 during the year. 19. According to the information and explanations given to us, the Company has not issued any secured debentures and thus was not required to create any security. 20. The Company has not raised any money by public issue during the year. Hence clause 4(xx) of the Companies (Auditor's Report) Order, 2003 is not applicable to the Company. 21. According to the information and explanations given to us, during the year, no fraud by or on the Company has been noticed or reported during the course of our audit. For Ghalla & Bhansali Chartered Accountants Place : Mumbai Haresh K.ChhedaDate : 30th July, 2004 Partner Membership No. 38262

Navneet Publications (India) Ltd Raw Materials

Product Name Unit Quantity Value Cost(Rs) / Unit

Others - Purchases NA 0.00 1.84 -

Others NA 0.00 6.72 -

Freight & Octroi NA 0.00 0.92 -

Paper Kg 41,793,939.00 133.78 32.01

Paper-Purchased Kg 554,769.00 1.57 28.30

Books & Other Station.Items-Pu

NA 0.00 0.22 -

Source : http://www.capitalmarket.com Navneet Publications (India) Ltd Finished Products

Product Name

Unit % of Sto

% Capacity Utilisation

Installed Capacity

Production

Sales Quantity

Sales (Rs. Cr.)

Sales Real.(Rs) / Unit

Publication NA 57.30 0.00 0.00 0.00 0.00 144.88 -

s

Stationery NA 42.34 0.00 0.00 0.00 0.00 107.06

-

Others NA 0.36 0.00 0.00 0.00 0.00 0.91 - Source : http://www.capitalmarket.com GUJARAT

Surat

1, Shree Vallabh Complex, Kotwal Street, Nanpura, Surat - 395 001Tel No. : (0261) 246 3927Email : [email protected], [email protected]

Vadodara

F/1, Vaidya Vatika, Sardar Bhavan Lane0, Opp. Hanuman Wadi, Vadodara-390 001Tel No. : (0265) 2422 087Email : [email protected], [email protected]

Navsari

3 C Arvind Nagar Society, Lunsikui Rd., Navsari 396445.Tel No. : (02637) 244186 & Mob: 9825154422Email : [email protected]

Corporate Profile

Board of Directors

Board of directors

Management Team

Corporate Information


Managing Director Amarchand R Gala

Joint Managing Director Jaisinh K Sampat

Director Dungarshi R Gala

Harakhchand R Gala

Shantilal R Gala

Director (Marketing) Jitendra L Gala

Director Vijay D. Rai

Ashok M Nadkarni

Liladhar D Shah

R Varadarajan

Kamlesh S Vikamsey

Company Secretary Manoj J Thakar

http://www.navneet.com/investors/corporate/corporate_info.htm

http://www.navneet.com/investors/corporate/management.htm







Corporate Profile

Management Team

Board of Directors

Management Team


Navin N. Shah President (Production)

Bipin A. Gala President (Projects)

Anil D. Gala President (Publishing)

Gnanesh D. Gala President (Finance)

Raju H. Gala President (Marketing)

Dilip C. Sampat President (International Business)

Shailendra J. Gala Vice President (Stationery Division)

Sandeep S. Gala Vice President (Marketing)

Kalpesh H. Gala Vice President (Stationery Division)

Sanjeev J. Gala Vice President (Marketing)

Ketan B. Gala Vice President (Information Technology

Corporate Profile


Board of directors

Management Team


Company Secretary Manoj J. Thakar

Auditors Ghalla & Bhansali

Chartered Accountants, Mumbai

Branch Auditors Nitin K. Shah & Co.

Chartered Accountants, Ahmedabad

Bankers Bank of India

UCO Bank

ICICI Bank Ltd.

Registered Office Navneet Bhavan, Bhavani Shankar Road,

Dadar (West), Mumbai - 400 028.

Ahmedabad Office Navneet House, Gurukul Road,

http://www.navneet.com/investors/corporate/management.htm

http://www.navneet.com/investors/corporate/boarddirectors.htm

http://www.navneet.com/investors/corporate/corporate_info.htm

http://www.navneet.com/investors/corporate/boarddirectors.htm

Memnagar, Ahmedabad - 380 052.

Works

Dantali Village Dantali, Behind Kasturi Nagar, District and Taluka - Gandhinagar, Gujarat.

Vasai Ponafel Industrial Estate, Gokhiware,Chinchpada, Vasai (East), Thane.

Silvassa Village Sayali, Silvassa.

Webmail [email protected]

Website www.navneet.com

Welcome to Navneet Top Scorer Digest Plus

Introduction

Navneet Top Scorer Digest Plus is a comprehensive self-learning preparatory tool. It is aimed at helping you understand and reinforce what you have learnt in the classroom. Digest Plus has textual explanations, enriching animations, additional information and interactive testing to provide you with a holistic learning experience. Navneet Top Scorer Digest Plus makes your learning experience personalised by providing you with a facility to add and also view and print, your own notes, at all the stages of your learning process. With more than 7,000 visuals in the form of graphics and animations along with a question bank containing more than 35,000 questions, Digest Plus is a unique resource of high quality educational content. Prepared by teachers with decades of experience, Navneet Top Scorer Digest Plus powers you with distilled intelligence from leading educationists.

Highlights

Understand and reinforce what you have already learnt in the classroom Interactive study material and excellent notesMore than 7,000 visuals in the form of graphics and animations, question bank containing more

than 35,000 questions across all Digest Plus CD-ROMsSystematic approach for brilliant success in examsCovers the entire textbook/syllabusEnables a personalised learning experienceNeat, clear and informative graphics and animationsBuilt-in system to generate random questions every timeExhaustive question bank for the chapter of your choiceEnables self-learningAccurate content in simple and lucid languageExcellent notes for brilliant success Prepared by experts with decades of experience

Get the 4C Advantage

The resources offered by Navneet Top Scorer CD-ROMs completely cover the syllabus through content that is correct in all aspects. Convenient to use, these CD-ROMs make you more confident to score top-class marks in your exams.

http://www.navneet.com/


NAVNEET

Documents

Transcript of NAVNEET