1. Corporate information

Global Education Limited(the Company) was incorporated as a private limited company on 30 June 2011 in the state of Maharashtra. The status ofthe company was changed from private to closely held public company.The company had made an Initial Public Offer (IPO) of 683,000 (Six Lacs Eighty Three Thousands) Equity shares during the previous year through Book Building process to public and the Company got listed on the SME Platform ofthe National Stock Exchange effective March 02, 2017.The status of the company has changed to listed public company. The Registered office of company is situated at 1121st Floor, Panchratna CHSL MP Marg Girgaon, Mumbai-400004, Maharashtra, India.

The Company has been established as a Service Provider Company, providing number of business support services to various organizations. The services include various business support services to educational institutions, corporates and banks. The Company provides services such as infrastructural facilities, conduct of online examinations, training including soft skill development, marketing and publicity through various modes like print media, television advertisement and related services like designing, space management, etc. It also acts as a supplier for items like computer hardware and accessories, tools, printed materials like prospectus, journals, books, stationery items, etc mainly for educational institutions.

These financial statements are presented in Indian Rupees (Rs.).

Rights, restrictions and preferences attached to equity shares

Each shareholder of equity shares is entitled to one vote per share. In the event of liquidation of the company, the holders of equity shares will be entitled to receive remianing assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

Rights, restrictions and preferences attached to preference shares

The preference shares were be redeemable within period of 7 years from date of allotment at such premium as may be decided by the board of Directors, in accordance with provision of Section 55 of the The Companies Act, 2013 out of profits available for distribution as dividend or out of proceeds of a fresh issue of shares made for the purpose of redemption. The preference shares are not convertible into equity shares of the Company.

The said preference shares were redeemed during the year with the approval of shareholders at the Extra Ordinary General Meeting held on 28 April 2017.

* Net of service tax, krishi kalyan cess and swatch bharat cess in put aggregating to Rs. 5,94,551.

** During the financial year 2017-18, the board of directors of Company has at its 70th meeting held on 23rd October, 2017 declared an interim dividend @25% i.e. Rs.2.50 per fully paid up equity share of Rs.10 each, which was payable to the members whose name appeared on the Register of Members of the company on 3rd November, 2017.

Dues to MLcro and Small Enterprises have been determined to the extent such parties have been identified on the basis of information collected by the Management. Moreover the Company is in the process of updating its suppliers data, as to the status as a Micro Small & Medium Enterprise with a copy of the Memorandum filed as per the provisions of Section 8 of the Micro Small 81 Medium Enterprises Development Act, 2006

2. Related party transactions in accordance with accounting standard AS-18

I. Subsidiary company

a. RLaanEduventures Private LLmited( w.e.f. 9 June 2017)

II. Associate company

a. Achievers Educare Private Limited (w.e.f. 9 June 2017)

III. Key managerial personnel and their relatives

3. The Company does not have any unhedged foreign currency exposure as at March 31,2018 (previous year NIL).

4. There are no present obligations requiring provisions in accordance with the guiding principles as enunciated in Accounting Standard (AS)-29 ‘Provisions, contingent liabilities & contingent assets.

5. In the opinion of the Board and to the best of their knowledge and belief, the value on realization of loans, advances and current assets in the ordinary course of business will not be less than the amount at which they are stated in the balance sheet.

6. Operating lease

Lease payments recognized in statement of profit & loss:

Operating Leases: Assets acquired on lease where a significant portion ofthe risks and rewards of ownership are retained by the lessor are classified as operating lease. Lease rentals on assets taken on operating lease are recognized as an expense in the statement of statement of profit and loss. Initial direct cost in respect ofthe lease acquired is expensed out in the year in which such costs are incurred:

7. Gratuity

Gratuity is computed as 15 days salary, for every completed year of service or part thereof and is payable on retirement/termination/resignation. The Gratuity plan for the company is a defined benefit scheme where annual contributions as per actuarial valuation are charged to the statement of profit & loss.

The Provident Fund is a defined contribution scheme whereby the company deposits an amount determined as a fixed percentage of basic pay with the Regional Provident Fund Commissioner.

For summarizing the components of net benefit expense recognized in the statement of profit and loss and amounts recognized in the balance sheet for the respective plans, the details are as under:

8. Segment Reporting

Incase of geographical (secondary) Segment, since segment assets and segment revenue do not exceed 10% of total business, segment reporting is not required.

9. Final Dividend recommended by the board of directors in the meeting held on May 28, 2018 for the Financial Year 2017-18is 25% i.e. Rs. 2.50 per fully paid up Equity Share of Rs.10 each.Final Dividend is subjected to the approval in Annual General Meeting.

10. Previous period figures have been regrouped/ reclassified wherever necessary to conform to current year classification.