MT Educare Ltd - Hidden gem Buy

MT Educare ltd is a mumbai based educational service company providing coaching services for 10 th to 12 th students CBSE based syllabus, In 2007 & 2008 they have extended their education centres to Karnataka, Andhra pradesh & Tamil Nadu. Year on Year MT Educare ltd profit increasing by 20 %.  All states schools slowly changing their education to CBSE board this changes is a great advantage for this company. MT Educare ltd is a debt free company. We expect this company will deliver their revenue growth of 25 % year on year.

Mar 14	Mar 13	Mar 12	Mar 11	Mar 10
SOURCES OF FUNDS
Owners Fund
Equity Share Capital	39.78	39.55	35.17	34.35	1.04
Share Application Money	0.00	0.00	0.00	0.00	0.00
Preference Share Capital	0.00	0.00	0.00	0.00	0.00
Reserves & Surplus	74.15	62.61	22.64	13.40	40.09
Loan Funds
Secured Loans	0.00	0.00	0.00	4.50	0.00
Unsecured Loans	1.93	0.00	0.00	0.00	0.00
Total	115.86	102.15	57.81	52.25	41.13
USES OF FUNDS
Fixed Assets
Gross Block	125.57	97.78	56.90	56.48	50.32
Less : Revaluation Reserve	0.00	0.00	0.00	0.00	0.00
Less : Accumulated Depreciation	40.07	31.81	26.72	24.19	17.38
Net Block	85.49	65.97	30.18	32.29	32.94
Capital Work-in-progress	6.08	12.20	16.38	0.91	3.07
Investments	26.15	18.54	14.80	24.84	18.84
Net Current Assets
Current Assets, Loans & Advances	63.92	80.53	68.33	53.92	33.97
Less : Current Liabilities & Provisions	65.77	75.08	71.87	59.71	47.70
Total Net Current Assets	-1.86	5.45	-3.54	-5.79	-13.73
Miscellaneous expenses not written	0.00	0.00	0.00	0.00	0.00
Total	115.86	102.15	57.81	52.25	41.13
Note :
Book Value of Unquoted Investments	19.57	6.57	14.80	24.84	18.84
Market Value of Quoted Investments	0.00	0.00	0.00	0.00	0.00
Contingent liabilities	7.61	16.83	20.81	1.82	1.95
Number of Equity shares outstanding (in Lacs)	397.82	395.48	351.73	343.51	10.41

Source : Dion Global Solution Ltd

This is listed in Both NSE and BSE CMP 144 tgt 240.