MT Educare was incorporated as MT Educare Private Limited on August 19, 2006, at Mumbai, as a private limited company. The company was converted into a public limited company on May 18, 2011 and consequently, the name was changed to MT Educare Limited.
Business of the company:
The company is an education support and coaching services provider for students in the secondary and higher secondary school and for students pursuing graduation degree in commerce, preparing for various competitive examinations and undertaking chartered accountancy examinations. The company has operations across the states of Maharashtra, Tamil Nadu, Karnataka and Gujarat, through 190 coaching centres in 106 locations. Of these, the Company operates 19 coaching centres in eight locations in Maharashtra in cities such as Nashik, Aurangabad and Nagpur, through franchisee arrangements.
The Company is one of the leading coaching services providers in Maharashtra, with primary operations in Mumbai with 138 coaching centres in 85 locations. It is also provides coaching for competitive examinations for admissions to universities offering masters in business administration degrees through its subsidiary, CPLPL, which operates in four locations in Mumbai.
The company has recently started operations at six locations in New Delhi and Gurgaon under the brand Study Mate -Powered by MT Educare- through HT Learning Centres (“HTLCL”), which is a joint venture of its wholly owned subsidiary, MTESPL with HT Education Limited. The Company, through its Dubai branch, MT Management Solution, also provides management consultancy services to a coaching center in Dubai which includes providing coaching and administrative support services for secondary and higher secondary school curriculum of various education boards.
The main section of students to whom the company offers services are as follows:
School Section: The School Section consists of IXth and Xth standard students for (i) state board examinations conducted by the state education boards of Maharashtra, Gujarat and Karnataka; (ii) board examinations conducted by the CBSE; and (iii) board examinations conducted by ICSE.
Science Section: The Science Section consists of XIth and XIIth standard students in science and for engineering CETs conducted by the Maharashtra and Karnataka State Governments, medical CETs conducted by Directorate of Medical Education and Research and the AIEEE conducted by the CBSE; and
Commerce Section: The Commerce Section consists of (i) XIth and XIIth standard students in commerce and CPT conducted by ICAI; (ii) undergraduate students pursuing their bachelor’s degree in commerce; and (iii) CA IPCC and CA Final examinations conducted by ICAI.
The company follows a systematic approach in selecting and training faculty members for the services offer edin order to ensure the quality and performance of the students who attend our Courses. It operates through a faculty empowerment‟ model, wherein our faculty members are provided a role in the business and rewarded for their contribution in the growth. In addition to their academic growth as faculty members, It also entrusts faculty members with the opportunity to grow within the organization by taking up administrative and business development roles for different Coaching Centres.
Company has two Subsidiaries:
Chitale’s Personalised Learning: CPLPL was incorporated under the Companies Act on November 19, 2009, in Mumbai. CPLPL is involved in the business of providing coaching services for competitive examinations for admissions to universities offering masters in business administration degrees.
MT Education Services: MTESPL was incorporated under the Companies Act on January 18, 2010, in Mumbai. The main object of MTESPL is to establish, purchase, maintain, develop and run coaching classes, training centres, school, bureaus, website, research laboratories and other academic institutions for imparting education to primary, secondary and higher secondary students. MTESPL is presently engaged in the business of providing coaching and other supplementary education services to primary, secondary and higher secondary students through HTLCL, a joint venture with HT Education.
Major Events of the company:
2007-Investments by Helix Investments Company by subscription to 3,28,00,059 Compulsorily Convertible Preference Shares for a subscription consideration of a Rs 32,80,00,590 (equivalent of $ 8 million)
2008- Centres opened in Gujarat and Tamil Nadu
2009- Amalgamation of Mahesh Tutorials , Mahesh Tutorials Commerce and Mahesh Tutorials Science Private into Company
2011- Acquisition of Chitales Personalised Learning