Everonn Education gets ‘A’ rating for proposed NCD issue from CARE

Credit rating agency, CARE has assigned ‘A’ rating to Rs 200 crore proposed Non Convertible Debenture (NCD) issue of Everonn Education.

The rating derives strength from longstanding experience of the promoters, Everonn’s leadership position in the satellite based (VSAT) remote teaching under ViTELS segment, its nationwide presence across various segments of the education sector (pre-school to higher education), its established presence in the Instructional and Communication Technology (ICT) segment catering to government schools, comfortable financial position characterized by low gearing levels, high PBILDT margin, consistently growing revenues and cash accruals.

Everonn is engaged in the development and sale of educational products and services for both Schools and Colleges. In addition to this, the company also has a network of retail centres (both own and franchise) through which it provides training to the individuals and also facilitates various organizations to conduct tests.