MUMBAI, 3rd June, 2010: In a landmark development, Everonn Skill Development Limited (ESDL), a subsidiary of BSE-NSE listed Everonn Education Limited, has signed an MoU with the world’s largest open university IGNOU, for certification of the former’s courses.
Under this collaboration, the credit and non-credit programmes offered by ESDL will be certified by IGNOU. The MoU covers the certification of 28 non- credit courses offered in ESDL’s Hospitality, Apparel, Merchandising and Textile programmes. The period of these short duration certificate courses are between one month and 6 months.
ESDL imparts industry-centric skillsets to youth, enabling them to gain employment while ensuring the relevance of their training to the Industry. The world class content and teaching methodologies used by ESDL have been developed through its partnerships with leading Universities, Industries and vocational content providers. This has ensured the industry validation, resulting in placement of its trainees.

ESDL’s divisions include: Indian Skill School (ISSchool), Center for Nursing Excellence (CNE), Global Institute for Gaming and Animation (GIGA) and Academy for Culinary and Hospitality Studies (ACHS).

On this occasion Mr. P. Kishore said, “We at Everonn take this as a huge opportunity to be in affiliation with the world’s largest Open University. This step shall provide an access to quality education to everyone across the nation. We are honored to be a part in leveraging the future of the youth and drive the growth of young India”
Financial Highlight FY 2009-10
Everonn posted consolidated revenue of Rs. 294crore for the year ended 31st March 2010, against Rs. 145crore in the corresponding period in the previous year ended 31st March 2009, a growth of 103%. The PAT has risen by 106% to Rs.46crore as on 31st March 2010 from Rs.22crore compared to previous corresponding financial year.

Also, Board of Directors has recommended dividend of 20% per equity share of Rs. 10 subjected to shareholders’ approval.
About Everonn Education Limited
Everonn Education has its presence in the Indian education industry for over two decades and is listed on both the BSE and NSE. It is India’s first education and training company to offer satellite-enabled learning, Everonn is a pioneer in facilitating education using breakthrough technologies. Everonn is the largest VSAT education network in the World. Everonn today reaches out to over 3 million students through 8492 learning centres across 27 states and works with 16 State Governments of India. (31st March 2010). Everonn has the expertise to design ‘wired and wireless knowledge and training delivery platforms’ to meet the educational needs and the technological capabilities to stream relevant content simultaneously and seamlessly through VSAT, Broadband and the 3G Spectrum (Mobile).
Media Contact: A Sashikumar, ASST-Manager- Corp Communications, Mobile: 9445001554,Email id: sashia@everonn.com
Ram Uppara, Concept Public Relations, Mobile: 9820177907, Email id: ram@conceptpr.com

MUMBAI, September 22, 2009: India’s largest dockyard Pipavav Shipyard fixed the issue price at Rs 58, Rs 2 lesser than the upper end of its price band at which most of the bids through 100% book building process came in.

Reflecting tremendous confidence among investors across the board, the IPO was subscribed almost 9 times on Friday when the issue closed. Data available with the stock exchanges shows that the retail investors flocked to the IPO with the segment registering subscription three times. The QIB segment was subscribed eleven times and the non-institutional portion 15 times. The employee portion was almost fully subscribed.

Building India’s largest dry dock and world class multi-sector fabrication facility, Pipavav Shipyard hit the capital market on the last Wednesday with a bang as the issue was fully subscribed within the 1^st hour.

The company targeted to raise over Rs 510 crores with the issue of over 85.45 million equity shares of Rs 10 each with a price band of Rs 55-Rs 60. The company intends to use the IPO proceeds for Construction of facilities for shipbuilding, ship repair and the Offshore Business among other things.

JM Financial Consultants Private Limited, Citigroup Global Markets India Private Limited, Enam Securities Private Limited and SBI Capital Markets Limited, are the book running lead managers and Kotak Mahindra Capital Company Limited and Motilal Oswal Investment Advisors Private Limited are the co-book running lead managers.

Pipavav Shipyard enjoys a strong order book position of 34 ships – 22 Panamax size huge dry bulk carriers for 3 European shipping companies and 12 OSVs for ONGC. It has also bid for 7 naval vessels.

Pipavav Shipyard will focus on building ships for the Indian navy and coast guard. In addition, Pipavav Shipyard intends to utilize its shipbuilding facilities to repair a wide range of vessels, including VLCCs and OSVs, and other specialty vessels such as LNG carriers.

Its dry dock, measuring 662 meters in length and 65 meters in width, is capable of accommodating ships of up to 400,000 DWT and/or multiple combinations of smaller vessels including vessels catering to offshore activities such as offshore supply vessels (OSV), anchor handling tug supply vessels and multi-purpose support vessels. Installation of two Goliath cranes, each having a lifting capacity of up to 600 tonnes, is also in progress.

For the year ended 31 March 2009, Sunil Hi Tech posted revenues of Rs. 598.21 crores (standalone), an increase of 95.3% over Rs. 306.30 crores in the previous fiscal year. Profit after Tax before extraordinary/ exceptional items for the year increased by 11.58% to Rs. 24.29 crores, as against Rs. 21.77 crores in the last fiscal year.

Additionally, the Board of Directors has recommended a dividend of 10% for fiscal year ending 31 March 2009.

Commenting on the results, Mr. Sunil Gutte, the Joint Managing Director of Sunil Hi Tech Engineers Ltd. said, “Our focus, crisp engineering execution and technical expertise coupled with our expanding product portfolio has enabled strong topline growth while maintaining margins during the tough operating climate of the past fiscal year. We expect to see further expansion and growth within our company in the coming quarters due to our numerous strategic initiatives. I am pleased with the overall results, operating performance and execution of our team.”

About Sunil Hi Tech Engineers Ltd.

Sunil Hi Tech Engineers Ltd. has over 20 years of experience in the fabrication, erection, testing and commissioning of thermal power plants including doing individual works under BoP. An ISO 9001:2000 certified company, Sunil Hi Tech undertakes the erection, testing and commissioning of boilers and auxiliaries of up to 500 MW capacity, pressure parts, ESP and piping, and structural work in main plant building, bunker bay and miscellaneous structures of up to 660 MW.

In addition to this, Sunil Hi Tech designs, supplies, transports and provides the commissioning of EHV lines of substations, CW pipelines, large diameter piping, bunker belts, steel flue can; EPC work for transmission and distribution lines, transformers sub-stations and allied works, as well as the EPC contract for fuel oil system and the erection of turbine generators.

Sunil Hi Tech has 125,000 tpa of steel fabrication capacity and specializes in building steel structures for thermal power plants and has also established a 1,00,000 tpa of equipment installation capacity in power plants. The company takes up civil works for power plants of up to 500 MW. It undertakes manufacture, supply, and commissioning of super-heater eco, reheater coils and equipment for thermal power stations.

The Minister said, “The Ministry is against any categorization among airlines. We will keep watch and take strict action in any such case. The national carrier Air India will never be a part of it and will ensure that competitive pricing ensures better prices to the passengers.”

He declared:”Air India shall act as a counter with better pricing and competitive fares.”

Sources familiar with the development point out that only “half truths” were being spread to point out accusing fingers at DoT for the manner in which the licenses were issued to new players like Unitech and Swan last year.

The then Finance Secretary D Subba Rao had objected to the manner in which the allotment was done. Dr Subba Rao, in a letter to DoT Secretary D S Mathur, asked if proper procedure has been followed with regard to financial diligence. He wondered as to how the rate of Rs 1600 crore fixed in 2001 has been applied to licenses given in 2007 “without any indexation, let alone current valuation”.

Mr Mathur had, in fact, explained in his prompt response that the decision was in accordance of a Cabinet decision of October 31, 2003 which in turn relied on the recommendations of Group of Ministers on telecom matters headed by then Finance Minister.

Mr Mathur’s letter to Dr Subba Rao pointed out “……it was decided that the recommendations of TRAI with regard to implementation of the Unified Access Licensing Regime for basic and cellular services may be accepted. DoT may be authorized to finalise the details of implementation with the approval of Minister of Communications and IT in this regard, including the calculation of the entry fee depending on the date of payment based on the principle given by TRAI in its recommendations.”

The letter went on to explain: “In terms of this Cabinet decision, the amendment to NTP 99 was issued on 11th November 2003 declaring that for telecommunication services the licence for Unified Access (Basic and Cellular) services permitting licencees to provide Basic and/or Cellular service using any technology may be issued.”

The entry fee was finalized for the UAS regime in 2003 based on the decision of the Cabinet. It was decided to keep the entry fee for the UAS licence the same as the entry fee for the fourth cellular operator, which as based on a bidding process in 2001, Mr Mathur’s letter said.

The dual technology licenses wee issued based on TRAI recommendations of August 2007. The fact of the matter is that TRAI, in its recommendations dated 28th August 2007, had not recommended any changes in entry fee/annual license fee and hence no changes were considered in the existing policy, Mr Mathur’s letter pointed out.

There are about 130 large cement plants in the country  with an installed capacity of 160.24 million tonne. During the year 2005-06 actual production was achieved 141.81million tonne. The number of mini cement plants accounts to 365 with an installed capacity of 11.10 million tonne.

The recorded production by mini cement plants during the same period is  6.0 million tonne. There are about 1,35,000 manpower employed all over India with a turnover more than 9,700 million US $ (2005). The cement sector has been rapidly growing at a rate of 8% and is expected to grow further.

Here are our key takeaways from the recently concluded September 2008 quarterly earnings season:

• Corporate India (represented by a MS sample of 105 companies) reported a 29% fall in net earnings for the quarter ended September 2008 – an alltime low. This compares with a trailing five-year quarterly average growth of 28%.

• Excluding the Energy sector, growth was 11% YoY – a five-year low compared with a trailing five-year quarterly average growth rate of 30%.

• Our coverage universe surprised negatively versus MS analysts’ expectations. MS analysts’ were expecting net profit growth of 3% for our coverage universe (12% ex-energy).

• Given that F2009 earnings were revised down for nine out of 10 sectors and for market aggregates at the end of the season, it could be said that the quarterly earnings disappointed consensus. Downward revisions outstripped upward revisions 2:1 at the end of the season versus where earnings were at the start of the season.

• The Sensex constituents grew earnings 5.5% YoY on an aggregate basis, behind MS analysts’ forecasts and its worst performance since June 2002.

• Broad market earnings (sample of 1,038 companies) continued to show weak performance with earnings falling 7% YoY.

• Notably, four out of the 10 sectors reported 20%-plus growth in profits.

• At the sector level, the best performances came from Utilities and Technology. The laggards versus the aggregate numbers were Consumer Discretionary, Energy, and Healthcare. Save for Technology and Financials, all sectors reported a slippage in operating margins YoY.

• Versus MS expectations, the biggest positive surprises came in Consumer Discretionary and Financials while the negative surprises came in Energy and Healthcare.

• Excluding the volatile Energy sector, revenue for our sample rose 26% YoY – a seven-quarter high and a strong performance considering the macro environment, explained in part by high inflation.

• EBITDA margins fell 720bp YoY and 122bp YoY excluding the Energy sector. This took EBITDA growth to a two-year low of 26.6% for the sample Ex-energy and to a 5½ year low of 14.6% for the aggregate sample.

• The key problem for net profit growth was the declining share of net financial income in pretax earnings and the rising depreciation expense. Other income fell YoY whereas interest costs rose at their fastest pace in history.