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CL Educate Subsidiary DEXIT Global Appoints Dr. Abhay Jere as MD & CEO for 5 Years
CL Educate's material unlisted subsidiary, DEXIT Global Limited (formerly NSEIT Limited), has appointed Dr. Abhay Jere as its Managing Director and CEO effective March 20, 2026. Dr. Jere brings over 24 years of experience, having previously served as the Vice Chairman of AICTE and Chief Innovation Officer at the Ministry of Education. His five-year term is expected to focus on digital transformation, AI-enabled platforms, and SaaS growth. This high-profile appointment signals a strong focus on technology-led expansion for the subsidiary.
Key Highlights
Dr. Abhay Jere appointed as MD and CEO of material subsidiary DEXIT Global for a 5-year term starting March 2026.
Appointee has 24+ years of experience, including leadership roles at AICTE and the Ministry of Education.
Former Vice President at Persistent Systems with expertise in AI, SaaS, and digital ecosystems.
DEXIT Global (formerly NSEIT Limited) is a key material unlisted subsidiary of CL Educate Limited.
The appointment is subject to shareholder approval and other necessary regulatory clearances.
💼 Action for Investors
Investors should monitor the subsidiary's performance under this new leadership, as Dr. Jere's tech background could significantly enhance DEXIT Global's valuation. This is a positive development for the parent company's long-term digital strategy.
CL Educate 9M FY26 Revenue Jumps 67% to ₹445 Cr; EBITDA Up 120% Despite PAT Impact
CL Educate reported a robust 67% YoY revenue growth to ₹445 crore for 9M FY26, largely driven by the DEX business acquisition which contributed ₹194 crore. While EBITDA surged 120% to ₹59 crore, the company posted a net loss of ₹16 crore due to high finance costs and INDAS-related accounting entries. Management highlighted that adjusted for non-cash INDAS impacts and new labor code costs, PAT would have grown to approximately ₹17 crore. The Digital Assessments (DEX) segment showed strong performance with 100% client retention and improved margins.
Key Highlights
9M FY26 Revenue grew 67% YoY to ₹445 crore, with the DEX business contributing ₹194 crore to the top line.
EBITDA increased 120% to ₹59 crore, though PAT was impacted by ₹40 crore in finance costs and INDAS entries.
DEX business achieved 100% client rollover, including a major 3-year deal with IRDAI at increased pricing.
International Martech revenues grew from ₹33 crore to ₹41 crore, onboarding blue-chip clients like Adobe and PwC.
EdTech segment revenue declined to ₹127 crore from ₹150 crore due to structural shifts toward low-value products.
💼 Action for Investors
Investors should focus on the company's ability to manage its ₹210 crore debt and the recovery of the EdTech segment. The strong operational performance in DEX and Martech is encouraging, but the bottom-line remains sensitive to interest costs and accounting adjustments.
CL Educate Q3 FY26: Revenue Up 67% to ₹445 Cr; Net Loss of ₹15.7 Cr Due to High Finance Costs
CL Educate reported a robust 67% YoY revenue growth to ₹445.1 Cr for the nine-month period ending December 2025, driven by its Assessments (DEX) and MarTech segments. However, the company swung to a consolidated net loss of ₹15.7 Cr from a profit of ₹4.4 Cr last year, primarily due to a sharp rise in finance costs and depreciation totaling ₹68 Cr. While Business EBITDA surged 120% to ₹58.8 Cr, bottom-line performance was further impacted by one-time exceptional labor code expenses of ₹5.3 Cr. The company is pivoting towards its new 'SATHI' assessment platform to drive future scalable growth.
Key Highlights
Consolidated revenue grew 67% YoY to ₹445.1 Cr for the 9-month period ended Dec 2025.
Business EBITDA increased 120% to ₹58.8 Cr, though net loss reached ₹15.7 Cr due to ₹68 Cr in finance and depreciation charges.
DEX (Assessments) segment revenue rose 12% to ₹194 Cr with a 24% growth in EBITDA to ₹42 Cr.
EdTech segment revenue reached ₹150 Cr, but EBITDA declined 39% to ₹18.6 Cr.
Launched 'SATHI' platform for holistic student assessment, targeting a monetization rate of ₹2-2.5 lakh per institution.
💼 Action for Investors
Investors should closely monitor the impact of high finance costs on the bottom line and the adoption rate of the new SATHI platform. While top-line growth in the assessment business is strong, the decline in EdTech margins and the shift to a net loss require a cautious outlook.
CL Educate Q3 FY26: Revenue Surges 67% to ₹445.1 Cr; Reports Net Loss of ₹15.7 Cr
CL Educate reported a robust 67% year-on-year growth in consolidated revenue, reaching ₹445.1 Cr for the nine-month period ended December 2025. However, the company transitioned to a consolidated net loss of ₹15.7 Cr from a profit of ₹4.4 Cr in the previous year, primarily due to a significant spike in finance costs and depreciation which totaled ₹68 Cr. The DEX (Assessments) segment remains a strong performer with 12% revenue growth and 24% EBITDA growth. The company also launched 'SATHI,' a new holistic assessment platform, aiming to diversify revenue streams through institutional partnerships.
Key Highlights
Consolidated 9M revenue grew 67% YoY to ₹445.1 Cr, driven by the Assessments and MarTech divisions.
Reported a Net Loss of ₹15.7 Cr, heavily impacted by ₹68 Cr in finance and depreciation costs compared to ₹15 Cr in the prior year.
DEX (Assessments) segment revenue rose to ₹194 Cr with EBITDA increasing 24% to ₹42 Cr.
EdTech segment EBITDA declined by 39% to ₹18.6 Cr, despite a 15% growth in segment revenue to ₹150 Cr.
Launched SATHI platform with 18 empaneled institutions and 907 courses to target the university admission and talent analytics market.
💼 Action for Investors
Investors should closely monitor the company's ability to manage high finance costs and IND AS-related depreciation which are currently masking strong top-line growth. The scaling of the SATHI platform and margin recovery in the EdTech segment are critical factors for future profitability.
CL Educate to Raise ₹50 Cr via QIP/Rights Issue and Secures ₹7.5 Cr Promoter Loan
CL Educate's board has granted in-principle approval to raise up to ₹50 Crores through various instruments including QIP, Rights Issue, or Preferential Allotment. To address immediate working capital needs, the company is also availing unsecured loans totaling ₹7.5 Crores from its promoters at an 11.24% annual interest rate. Furthermore, the company is divesting a 20% stake in its subsidiary, Kestone Utsav Private Limited, for ₹5 Lakhs to related parties. These moves coincide with the approval of the company's Q3 FY26 financial results.
Key Highlights
Approved fundraising of up to ₹50 Crores via QIP, Rights Issue, or other convertible securities.
Secured ₹7.5 Crores in unsecured working capital loans from Promoters Satya Narayanan R and Gautam Puri at 11.24% p.a.
Divested 20% stake in subsidiary Kestone Utsav Private Limited (KUPL) for a total consideration of ₹5 Lakhs.
KUPL contributed 0% to consolidated turnover and -0.10% to net worth in the previous financial year.
Board approved Q3 FY26 financial results with an unmodified opinion from statutory auditors.
💼 Action for Investors
Investors should monitor the pricing and dilution impact of the proposed ₹50 Crore fundraise. The reliance on promoter loans at double-digit interest rates suggests a tightening liquidity position that warrants a closer look at the latest quarterly earnings performance.
CL Educate to Raise ₹50 Cr, Divests 20% Subsidiary Stake, and Secures ₹7.5 Cr Promoter Loan
CL Educate's board has approved a significant fundraise of up to ₹50 Crores through various routes including QIP, Rights Issue, or Preferential Allotment. The company is also divesting a 20% stake in its subsidiary, Kestone Utsav Private Limited, for ₹5 Lakhs to strategic partners and related parties. To address immediate working capital needs, the company has secured an unsecured loan of ₹7.5 Crores from its promoter directors at an interest rate of 11.24% per annum. Additionally, the board has cleared the unaudited financial results for the quarter and nine months ended December 31, 2025.
Key Highlights
Approved fundraising of up to ₹50 Crores via QIP, Rights Issue, or other convertible securities.
Secured ₹7.5 Crores unsecured working capital loan from Promoter Directors at 11.24% interest for a 3-year tenure.
Divested 20% stake in subsidiary Kestone Utsav Private Limited (KUPL) for ₹5 Lakhs to SK Brands and Mr. Sameer Puri.
KUPL had a negative net worth contribution of -0.10% and zero revenue in the last financial year.
Approved Q3 FY26 and 9M FY26 financial results with an unmodified audit opinion.
💼 Action for Investors
Investors should monitor the pricing and dilution impact of the proposed ₹50 Crore fundraise. The reliance on promoter loans for working capital at 11.24% suggests a need for liquidity that should be cross-referenced with the latest quarterly earnings performance.
CL Educate Receives GST Tax and Penalty Demand of Rs 15.46 Crore
CL Educate's merged subsidiary, CL Media Private Limited, has received a GST demand order totaling Rs 15.46 crores for the period FY18-19 to FY21-22. The demand arises from alleged excess Input Tax Credit (ITC) claims amounting to approximately Rs 1.4 crores, with the remainder consisting of penalties on the company and its directors. The company has stated its intention to contest the order through the statutory appellate process. This matter will be treated as a contingent liability in the company's financial statements.
Key Highlights
Total demand for tax and penalty amounts to Rs 15.46 crores.
Alleged excess Input Tax Credit (ITC) for the period FY18-19 to FY21-22 is approximately Rs 1.4 crores.
The significant penalty amount is attributed to levies on both the company and its directors.
CL Educate plans to file an appeal against the order with tax advisors.
The liability will be disclosed as a contingent liability in the FY26 financial statements.
💼 Action for Investors
Investors should monitor the outcome of the appeal process as the penalty is disproportionately high compared to the tax amount. Watch for any potential cash flow impact if a mandatory pre-deposit is required for the appeal.