Share Price and Basic Stock Data
Last Updated: November 22, 2025, 3:15 pm
| PEG Ratio | 0.00 |
|---|
Analyst Insight & Comprehensive Analysis
AI Stock Ranker – Real-Time Fundamental Strength Score
Business Overview and Revenue Trends
IEC Education Ltd operates within the education sector, primarily focusing on coaching and study materials. As of the latest reporting, the company’s market capitalization stood at ₹51.8 Cr, with its stock price at ₹34.0. The revenue trajectory has been concerning, as the company reported zero sales across multiple quarters, including Jun 2022 to Mar 2025. This stagnation raises significant questions about the company’s operational viability and market strategy. Historically, sales peaked at ₹3.46 Cr in Mar 2014 but have since dwindled, reaching ₹0.00 by Mar 2023 and continuing into Mar 2025. This decline signifies a critical need for a strategic pivot or revitalization to regain market traction and improve revenue generation, as it contrasts sharply with sector expectations for growth, particularly in a post-pandemic educational landscape.
Profitability and Efficiency Metrics
The profitability metrics of IEC Education Ltd reflect persistent challenges. The company has reported negative net profits consistently, with the most recent figure at ₹-0.27 Cr for Mar 2025, indicating ongoing operational losses. Operating profits also showed a negative trend, standing at ₹-0.27 Cr for the same period. The return on equity (ROE) was recorded at 0.90%, while return on capital employed (ROCE) was at 0.84%, both of which are relatively low and suggest inefficient capital utilization. Furthermore, the operating profit margin (OPM) remains unreported, further complicating the understanding of operational efficiency. The negative trends in profitability metrics, combined with high operating costs, illustrate a critical need for management to enhance operational efficiency and reevaluate their cost structure to stabilize the financial performance.
Balance Sheet Strength and Financial Ratios
IEC Education Ltd’s balance sheet reveals a concerning lack of reserves and borrowings, with both figures reported as N/A. This absence indicates potential liquidity issues and an inability to leverage debt for growth. The company’s price-to-book value (P/BV) ratio is at 0.81x, suggesting that the stock is undervalued compared to its book value, although this might reflect market skepticism regarding its future profitability. The current ratio is notably high at 14.80, indicating a strong liquidity position, but the lack of revenue generation casts doubt on the sustainability of this liquidity. Financial ratios such as the return on net worth, which stood at -0.88%, and return on assets at -0.81% underscore the company’s inefficiencies and the pressing need for strategic financial management to improve overall financial health.
Shareholding Pattern and Investor Confidence
IEC Education Ltd’s shareholding pattern indicates a strong promoter holding of 66.49%, which suggests a degree of stability in ownership and commitment from the founders. However, the public shareholding is at 33.51%, with a total of 5,496 shareholders as of the latest report. This distribution may reflect a lack of confidence among retail investors, particularly given the company’s ongoing losses and stagnant revenue. The number of shareholders has fluctuated, peaking at 5,532 in Jun 2025 but declining to 5,496 by Sep 2025. Such volatility in shareholder numbers could signify investor apprehension about the company’s future prospects, further compounded by a lack of institutional investor interest, as no foreign institutional investors (FIIs) or domestic institutional investors (DIIs) are reported. This scenario may hinder the company’s ability to raise capital for potential growth initiatives.
Outlook, Risks, and Final Insight
Looking ahead, IEC Education Ltd faces several risks, including continued operational losses and the challenge of revitalizing sales amidst a competitive education sector. The absence of revenue generation over multiple quarters raises concerns about the company’s sustainability and long-term viability. On the other hand, the strong liquidity position and high promoter holding could provide a buffer against immediate financial distress. To improve its outlook, the company must focus on operational restructuring, potentially pivoting its business model to adapt to market demands. If successful, this could lead to a turnaround in revenue and profitability. However, failure to address these critical issues may result in a continued decline, necessitating urgent strategic interventions to restore investor confidence and operational effectiveness.
Source: Getaka Fundamental Analysis | Generated using proprietary financial data.
Competitors of IEC Education Ltd
| Stock Name ⇩ | Market Cap ⇩ | Current Price ⇩ | High / Low ⇩ | Stock P/E ⇩ | Book Value ⇩ | Dividend Yield ⇩ | ROCE ⇩ | ROE ⇩ | Face Value ⇩ |
|---|---|---|---|---|---|---|---|---|---|
| IEC Education Ltd | 49.2 Cr. | 32.3 | 46.6/14.2 | 19.6 | 0.00 % | 0.84 % | 0.90 % | 10.0 | |
| Humming Bird Education Ltd | 14.7 Cr. | 24.0 | 102/24.0 | 37.7 | 5.06 | 0.00 % | 41.7 % | 26.9 % | 1.00 |
| Golden Crest Education & Services Ltd | 179 Cr. | 342 | 869/270 | 999 | 20.8 | 0.00 % | 2.05 % | 1.49 % | 10.0 |
| DSJ Keep Learning Ltd | 37.8 Cr. | 2.49 | 5.50/2.25 | 90.1 | 0.48 | 0.00 % | 9.80 % | 8.93 % | 1.00 |
| Ascensive Educare Ltd | 84.0 Cr. | 20.6 | 23.0/8.20 | 19.8 | 4.37 | 0.00 % | 20.6 % | 18.7 % | 1.00 |
| Industry Average | 1,006.57 Cr | 78.91 | 125.55 | 68.74 | 0.48% | 12.81% | 24.78% | 5.06 |
Quarterly Result
| Metric | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Expenses | 0.04 | 0.27 | 0.07 | 0.16 | 0.03 | 0.26 | 0.06 | 0.31 | 0.10 | 0.05 | 0.03 | 0.09 | 0.04 |
| Operating Profit | -0.04 | -0.27 | -0.07 | -0.16 | -0.03 | -0.26 | -0.06 | -0.31 | -0.10 | -0.05 | -0.03 | -0.09 | -0.04 |
| OPM % | |||||||||||||
| Other Income | 0.00 | 0.25 | 0.07 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Depreciation | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | -0.04 | -0.02 | 0.00 | -0.16 | -0.03 | -0.26 | -0.06 | -0.31 | -0.10 | -0.05 | -0.03 | -0.09 | -0.04 |
| Tax % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | |
| Net Profit | -0.04 | -0.03 | -0.01 | -0.17 | -0.03 | -0.27 | -0.06 | -0.31 | -0.10 | -0.05 | -0.03 | -0.09 | -0.04 |
| EPS in Rs | -0.03 | -0.02 | -0.01 | -0.11 | -0.02 | -0.18 | -0.04 | -0.20 | -0.07 | -0.03 | -0.02 | -0.05 | -0.03 |
Last Updated: August 19, 2025, 1:35 pm
Below is a detailed analysis of the quarterly data for IEC Education Ltd based on the most recent figures (Jun 2025) and their trends compared to the previous period:
- For Sales, as of Jun 2025, the value is 0.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2025) which recorded 0.00 Cr..
- For Expenses, as of Jun 2025, the value is 0.04 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 0.09 Cr. (Mar 2025) to 0.04 Cr., marking a decrease of 0.05 Cr..
- For Operating Profit, as of Jun 2025, the value is -0.04 Cr.. The value appears strong and on an upward trend. It has increased from -0.09 Cr. (Mar 2025) to -0.04 Cr., marking an increase of 0.05 Cr..
- For OPM %, as of Jun 2025, the value is 0.00%. The value remains steady. There is no change compared to the previous period (Mar 2025) which recorded 0.00%.
- For Other Income, as of Jun 2025, the value is 0.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2025) which recorded 0.00 Cr..
- For Interest, as of Jun 2025, the value is 0.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2025) which recorded 0.00 Cr..
- For Depreciation, as of Jun 2025, the value is 0.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2025) which recorded 0.00 Cr..
- For Profit before tax, as of Jun 2025, the value is -0.04 Cr.. The value appears strong and on an upward trend. It has increased from -0.09 Cr. (Mar 2025) to -0.04 Cr., marking an increase of 0.05 Cr..
- For Tax %, as of Jun 2025, the value is 0.00%. The value remains steady. There is no change compared to the previous period (Mar 2025) which recorded 0.00%.
- For Net Profit, as of Jun 2025, the value is -0.04 Cr.. The value appears strong and on an upward trend. It has increased from -0.09 Cr. (Mar 2025) to -0.04 Cr., marking an increase of 0.05 Cr..
- For EPS in Rs, as of Jun 2025, the value is -0.03. The value appears strong and on an upward trend. It has increased from -0.05 (Mar 2025) to -0.03, marking an increase of 0.02.
Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.
Profit & Loss - Annual Report
Last Updated: October 15, 2025, 3:06 am
| Metric | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3.46 | 3.14 | 0.01 | 0.02 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Expenses | 3.91 | 2.54 | 1.28 | 0.63 | 0.44 | 0.40 | 0.55 | 0.25 | 0.23 | 0.45 | 0.61 | 0.27 | 0.21 |
| Operating Profit | -0.45 | 0.60 | -1.27 | -0.61 | -0.44 | -0.40 | -0.55 | -0.25 | -0.23 | -0.45 | -0.61 | -0.27 | -0.21 |
| OPM % | -13.01% | 19.11% | -12,700.00% | -3,050.00% | |||||||||
| Other Income | 1.27 | -0.13 | 1.90 | 0.54 | 0.00 | -0.04 | 0.00 | 0.05 | 0.01 | 0.23 | -0.02 | 0.00 | 0.00 |
| Interest | 0.07 | 0.02 | 0.01 | 0.01 | 0.00 | 0.01 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Depreciation | 0.59 | 0.63 | 0.55 | 0.51 | 0.51 | 0.51 | 0.02 | 0.02 | 0.02 | 0.01 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 0.16 | -0.18 | 0.07 | -0.59 | -0.95 | -0.96 | -0.57 | -0.23 | -0.24 | -0.23 | -0.63 | -0.27 | -0.21 |
| Tax % | 31.25% | -33.33% | 42.86% | -13.56% | -9.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | |
| Net Profit | 0.13 | -0.13 | 0.04 | -0.51 | -0.86 | -0.96 | -0.56 | -0.23 | -0.23 | -0.23 | -0.64 | -0.27 | -0.21 |
| EPS in Rs | 0.10 | -0.07 | 0.04 | -0.33 | -0.56 | -0.63 | -0.37 | -0.15 | -0.14 | -0.14 | -0.42 | -0.18 | -0.13 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
YoY Net Profit Growth
| Year | 2014-2015 | 2015-2016 | 2016-2017 | 2017-2018 | 2018-2019 | 2019-2020 | 2020-2021 | 2021-2022 | 2022-2023 | 2023-2024 | 2024-2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| YoY Net Profit Growth (%) | -200.00% | 130.77% | -1375.00% | -68.63% | -11.63% | 41.67% | 58.93% | 0.00% | 0.00% | -178.26% | 57.81% |
| Change in YoY Net Profit Growth (%) | 0.00% | 330.77% | -1505.77% | 1306.37% | 57.00% | 53.29% | 17.26% | -58.93% | 0.00% | -178.26% | 236.07% |
IEC Education Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.
Growth
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | % |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 9% |
| 3 Years: | -5% |
| TTM: | 73% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 15% |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 213% |
| Return on Equity | |
|---|---|
| 10 Years: | -1% |
| 5 Years: | -1% |
| 3 Years: | -1% |
| Last Year: | -1% |
Last Updated: September 5, 2025, 3:41 pm
No data available for the Balance Sheet data table.
Cash Flow
| Month | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Financial Efficiency Indicators
| Month | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 785.91 | 903.20 | 252,215.00 | 116,252.50 | ||||||||
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 785.91 | 903.20 | 252,215.00 | 116,252.50 | ||||||||
| Working Capital Days | 431.46 | 728.84 | 265,355.00 | 136,875.00 | ||||||||
| ROCE % | -2.79% | -0.05% | 0.22% | -1.61% | -2.69% | -2.65% | -1.69% | -0.78% | -0.76% | -0.64% | -1.88% | -0.84% |
This stock is not held by any mutual fund.
Key Financial Ratios
| Month | Mar 25 | Mar 24 | Mar 23 | Mar 22 | Mar 21 |
|---|---|---|---|---|---|
| FaceValue | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
| Basic EPS (Rs.) | -0.18 | -0.42 | -0.15 | -0.15 | -0.15 |
| Diluted EPS (Rs.) | -0.18 | -0.42 | -0.15 | -0.15 | -0.15 |
| Cash EPS (Rs.) | -0.17 | -0.41 | -0.14 | -0.14 | -0.13 |
| Book Value[Excl.RevalReserv]/Share (Rs.) | 19.64 | 19.81 | 20.36 | 20.51 | 20.67 |
| Book Value[Incl.RevalReserv]/Share (Rs.) | 19.64 | 19.81 | 20.36 | 20.51 | 20.67 |
| PBDIT / Share (Rs.) | -0.17 | -0.41 | -0.14 | -0.14 | -0.13 |
| PBIT / Share (Rs.) | -0.17 | -0.41 | -0.15 | -0.15 | -0.14 |
| PBT / Share (Rs.) | -0.17 | -0.41 | -0.15 | -0.15 | -0.14 |
| Net Profit / Share (Rs.) | -0.17 | -0.41 | -0.15 | -0.15 | -0.14 |
| NP After MI And SOA / Share (Rs.) | -0.17 | -0.41 | -0.14 | -0.14 | -0.14 |
| Return on Networth / Equity (%) | -0.88 | -2.08 | -0.71 | -0.71 | -0.68 |
| Return on Capital Employeed (%) | -0.90 | -2.08 | -0.74 | -0.75 | -0.71 |
| Return On Assets (%) | -0.81 | -1.93 | -0.64 | -0.66 | -0.62 |
| Total Debt / Equity (X) | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 |
| Current Ratio (X) | 14.80 | 15.06 | 11.20 | 13.22 | 13.12 |
| Quick Ratio (X) | 14.80 | 15.06 | 11.20 | 13.22 | 13.12 |
| Enterprise Value (Cr.) | 26.35 | 3.50 | 0.00 | 0.00 | 0.00 |
| EV / EBITDA (X) | -96.61 | -5.54 | 0.00 | 0.00 | 0.00 |
| Price / BV (X) | 0.81 | 0.05 | 0.00 | 0.00 | 0.00 |
| EarningsYield | -0.01 | -0.36 | 0.00 | 0.00 | 0.00 |
After reviewing the key financial ratios for IEC Education Ltd, here is a detailed analysis based on the latest available data and recent trends:
- For FaceValue, as of Mar 25, the value is 10.00. This value is within the healthy range. There is no change compared to the previous period (Mar 24) which recorded 10.00.
- For Basic EPS (Rs.), as of Mar 25, the value is -0.18. This value is below the healthy minimum of 5. It has increased from -0.42 (Mar 24) to -0.18, marking an increase of 0.24.
- For Diluted EPS (Rs.), as of Mar 25, the value is -0.18. This value is below the healthy minimum of 5. It has increased from -0.42 (Mar 24) to -0.18, marking an increase of 0.24.
- For Cash EPS (Rs.), as of Mar 25, the value is -0.17. This value is below the healthy minimum of 3. It has increased from -0.41 (Mar 24) to -0.17, marking an increase of 0.24.
- For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 19.64. It has decreased from 19.81 (Mar 24) to 19.64, marking a decrease of 0.17.
- For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 19.64. It has decreased from 19.81 (Mar 24) to 19.64, marking a decrease of 0.17.
- For PBDIT / Share (Rs.), as of Mar 25, the value is -0.17. This value is below the healthy minimum of 2. It has increased from -0.41 (Mar 24) to -0.17, marking an increase of 0.24.
- For PBIT / Share (Rs.), as of Mar 25, the value is -0.17. This value is below the healthy minimum of 0. It has increased from -0.41 (Mar 24) to -0.17, marking an increase of 0.24.
- For PBT / Share (Rs.), as of Mar 25, the value is -0.17. This value is below the healthy minimum of 0. It has increased from -0.41 (Mar 24) to -0.17, marking an increase of 0.24.
- For Net Profit / Share (Rs.), as of Mar 25, the value is -0.17. This value is below the healthy minimum of 2. It has increased from -0.41 (Mar 24) to -0.17, marking an increase of 0.24.
- For NP After MI And SOA / Share (Rs.), as of Mar 25, the value is -0.17. This value is below the healthy minimum of 2. It has increased from -0.41 (Mar 24) to -0.17, marking an increase of 0.24.
- For Return on Networth / Equity (%), as of Mar 25, the value is -0.88. This value is below the healthy minimum of 15. It has increased from -2.08 (Mar 24) to -0.88, marking an increase of 1.20.
- For Return on Capital Employeed (%), as of Mar 25, the value is -0.90. This value is below the healthy minimum of 10. It has increased from -2.08 (Mar 24) to -0.90, marking an increase of 1.18.
- For Return On Assets (%), as of Mar 25, the value is -0.81. This value is below the healthy minimum of 5. It has increased from -1.93 (Mar 24) to -0.81, marking an increase of 1.12.
- For Total Debt / Equity (X), as of Mar 25, the value is 0.05. This value is within the healthy range. There is no change compared to the previous period (Mar 24) which recorded 0.05.
- For Current Ratio (X), as of Mar 25, the value is 14.80. This value exceeds the healthy maximum of 3. It has decreased from 15.06 (Mar 24) to 14.80, marking a decrease of 0.26.
- For Quick Ratio (X), as of Mar 25, the value is 14.80. This value exceeds the healthy maximum of 2. It has decreased from 15.06 (Mar 24) to 14.80, marking a decrease of 0.26.
- For Enterprise Value (Cr.), as of Mar 25, the value is 26.35. It has increased from 3.50 (Mar 24) to 26.35, marking an increase of 22.85.
- For EV / EBITDA (X), as of Mar 25, the value is -96.61. This value is below the healthy minimum of 5. It has decreased from -5.54 (Mar 24) to -96.61, marking a decrease of 91.07.
- For Price / BV (X), as of Mar 25, the value is 0.81. This value is below the healthy minimum of 1. It has increased from 0.05 (Mar 24) to 0.81, marking an increase of 0.76.
- For EarningsYield, as of Mar 25, the value is -0.01. This value is below the healthy minimum of 5. It has increased from -0.36 (Mar 24) to -0.01, marking an increase of 0.35.
Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.
Strength and Weakness
Unable to fetch valid data for stock valuation.Stock Analysis
- Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in IEC Education Ltd:
- Net Profit Margin: 0%
- Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
- ROCE: -0.9% (Industry Average ROCE: 12.81%)
- ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
- ROE%: -0.88% (Industry Average ROE: 24.78%)
- ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
- Interest Coverage Ratio (Post Tax): 0
- Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
- Quick Ratio: 14.8
- Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
- Stock P/E: 0 (Industry average Stock P/E: 125.55)
- Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
- Total Debt / Equity: 0.05
- Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
Stock Rating: - Net Profit Margin: 0%
About the Company - Qualitative Analysis
| INDUSTRY | ADDRESS | CONTACT |
|---|---|---|
| Education - Coaching/Study Material/Others | E-578, First Floor, Greater Kailash-II, New Delhi Delhi 110048 | cs@iecgroup.in www.iecgroup.in |
| Management | |
|---|---|
| Name | Position Held |
| Mr. Bijoy Kumar Pandit | Chairman(NonExe.&Ind.Director) |
| Mrs. Shalini Gupta | Non Executive Director |
| Mr. Hemang Gopal Bhatt | Non Exe.Non Ind.Director |
| Mr. Vipin Kumar Kushwaha | Ind. Non-Executive Director |
| Mr. Sunil Kumar | Ind. Non-Executive Director |