Indalytics   Business In Education   February 2012
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Indalytics Business In Education February 2012

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Business in Education is a monthly report, which is focused on the supply side of education sector in India. The report is aimed at helping education services providers with the latest activities in ...

Business in Education is a monthly report, which is focused on the supply side of education sector in India. The report is aimed at helping education services providers with the latest activities in the sector.

The report covers the trends, as well as the opportunities in the Indian education sector, which were highlighted in media. It is designed for the individuals and organizations, which are in the education business, or are planning to enter it. It is also helpful for various products and services providers to the sector.

In order to get free subscription to Business in Education, please mail us at businessineducation@indalytics.com

You can also get the latest news about the Indian education sector by visiting www.indalytics.com

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Indalytics   Business In Education   February 2012 Indalytics Business In Education February 2012 Document Transcript

  • Business in Education February 2012INDALYTICSADVISORS BUSINESS IN EDUCATION February 2012 www.indalytics.com © 2012, Indalytics Advisors Private Limited | Indalytics.com | businessineducation@indalytics.com © Indalytics Advisors l www.indalytics.com l businessineducation@indalytics.com 1
  • Business in Education February 2012About Business in EducationBusiness in Education is a monthly report, which is focused on the supply side of education sector in India. Thereport is aimed at helping education services providers with the latest activities in the sector.The report covers the trends, as well as the opportunities in the Indian education sector, which were highlighted inmedia. It is designed for the individuals and organizations, which are in the education business, or are planning toenter it. It is also helpful for various products and services providers to the sector.In order to get free subscription to Business in Education, please mail us at businessineducation@indalytics.comYou can also get the latest news about the Indian education sector by visiting www.indalytics.com Keep yourself updated with the latest activities in Indian Education Sector Visit Indalytics.com – for Market Intelligence in Indian Education We cover latest trends, opportunities regulations and best practices in Indian Education sector — to help you gain competitive edge© Indalytics Advisors l www.indalytics.com l businessineducation@indalytics.com 2
  • Business in Education February 2012 Table of Contents Activities of Major Players ..................................................................................................................................... 4 Education sector is witnessing investment activities ......................................................................................... 4 Foreign universities are collaborating with Indian counterparts ........................................................................ 4 Foreign corporates are entering the education sector ....................................................................................... 5 Education players are going for expansion ........................................................................................................ 5 Opportunities in the sector .................................................................................................................................... 6 Opportunities coming up for teacher training institutes .................................................................................... 6 Tamil Nadu is going for upgradation of schools ................................................................................................. 6 Demand for ombudsmen expected to increase ................................................................................................. 7 Other Prominent Trends in the Sector ................................................................................................................... 7 Educational institutions will have to follow accounting standards .................................................................... 7 Delhi schools will be allowed to admit students aged 3+ in preschools ............................................................. 8 20 women-only universities coming up in XII 5—year plan ................................................................................ 8 Companies’ Score Card .......................................................................................................................................... 9 List of Institutions and Organizations................................................................................................................... 11© Indalytics Advisors l www.indalytics.com l businessineducation@indalytics.com 3
  • Business in Education February 2012Activities of Major PlayersEducation sector is witnessing finding an investor for his stake, and is in talksinvestment activities with many companies, including Core.Indian education sector has been witnessing Internet based education and training providerhigh private equity investments. The sector, — Comp U Learn Tech India Limited — is alsowhich witnessed 17 deals worth more than expected to acquire educational servicesINR6,000 crore in 2011, is expected to see company, Divya Knowledge Processincreased activity in 2012. The year has started Management Limited. Divya knowledgewith investments in support services subsector. provides IT and BPO courses, and has tie–upHyderabad–based educational support services with Bharathidasan University, Tamil Nadu. Theprovider Varsity Education Management deal will be Comp U Learn’s fifth investment,Private Limited has received investment of after SPRY Resources India Private Limited,undisclosed amount from Asia-focused private Boden Services Inc, ACE BPO Services Privateequity fund — New Silk Route Partners. Limited, and the latest one in Shouk Investement Consultancy, Dubai for 51% stake in 2010.The PE fund has acquired a significant minoritystake in Varsity Education, which providesoperational and support services, to more than350 educational institutions in the states of Foreign universities are collaboratingAndhra Pradesh, Karnataka, Maharashtra and with Indian counterpartsTamil Nadu. This is the second deal by New SilkRoute in education sector. The company had Growth in Indian education sector is attractingearlier invested in Lahore, Pakistan–based foreign universities to increase their presence inBeaconhouse School System, in 2008. Indian through collaboration. The University of Hyderabad has signed a memorandum of understanding (MoU) with Japan’s TokyoIn another investment activity, technology University of Science. The MoU is expected tobased education—solutions provider, Core help both the universities collaborate with eachEducation & Technologies Limited is expected other in the field of academics. The universitiesto buy stake in Aptech Limited from investor will work together in academic research andRakesh Jhunjhunwala. The stake, which other areas such as teaching, training, andrepresents 31.19% of Aptech Limited, is academic and cultural exchange in education.currently worth approximately INR700 crore.Financial services provider , Avendus Capital, isworking on behalf of Rakesh Jhunjhunwala, for© Indalytics Advisors l www.indalytics.com l businessineducation@indalytics.com 4
  • Business in Education February 2012 Hyderabad based Siva Sivani Institute of Another new entrant in the Indian education Management (SSIM) has also signed a sector is the US based hotel chain, Best memorandum of understanding (MoU) with Western International. The company is Harrison College of the US. As per the MoU, planning to open hospitality management both the institutions will work together in schools in Bengalooru, Noida, Dehradun and various areas of academics such as sharing of Bhubaneswar. The schools are expected to be knowledge and guest lectures, student and operated on the franchise mode, and will faculty exchange programs, and joint impart short–term courses to approximately certification courses. The MoU will further help 200 students per center. students of SSIM improve their knowledge and placement opportunities. These schools will help Best Western train staff for their expected foray in to the hospitality Foreign corporates are entering the industry. The company plans to open 100 hotels education sector to its portfolio by 2017, and will invest approximately INR1,600 crore in the venture. Its target for 2012 is to add 10–12 hotels. Education sector is also attracting other foreign corporates to either explore new markets for their products, or groom their talent. Education players are going for Technology major Apple Incorporation has introduced its interactive textbooks application expansion for the iPad —iBooks2. The iBooks application will contain dynamic and interactive textbooks Sector is witnessing expansion from established having animations, pictures, videos and players. Distance education provider Madurai diagrams. Kamaraj University (MKU) is planning to expand by entering into a memorandum of understanding (MoU) with the India Post to sell The iBooks2 application is free for download at its study material through post offices. Apple’s App Store, and will have educational content from companies such as McGraw-Hill and Pearson. Apple will be leveraging the high As per the MoU, India Post will help MKU is sale of its iPads to sell its application to the selling its application forms through post students. The company has also launched offices, and distributing the study material another application — iTunes U —which help through India Post’s parcel services. The MoU is students access free educational content and expected to help MKU, leverage the logistics applications from across the globe. and distribution network of India Post in expanding its distance education business, especially in the rural parts of the country.© Indalytics Advisors l www.indalytics.com l businessineducation@indalytics.com 5
  • Business in Education February 2012 International Baccalaureate-affiliated Oakridge Council for Teacher Education has made International School, which has campuses in Teacher Eligibility Test (TET) a part of basic Hyderabad and Vishakhapatnam, has opened its criteria, necessary to become a qualifies new campus in Bengalooru. The schools has teacher. In January 2012, approximately 8.16 initially being started with an investment of lakh aspirants have taken the test, which was INR100 crore, till class VII. the second CTET. Oakridge is promoted by Visakhapatnam-based Online education providers will also be getting Vikas Educational Institutions Limited (VEIL). an opportunity from state governments, for The company has further plans to expand the training teachers and making them ready as per 10–acre campus, by investing approximately the Right to Education (RTE) Act. The state INR200 crore this year. The school will be able governments, in order to save their costs, are to accommodate approximately 2,500 students, expected to take the help of online training with a teacher to student ratio of 1:10. providers. Indira Gandhi National Open University (IGNOU) will be collaborating with the state government of Meghalaya to provide online teachers training program to public school teachers. Opportunities in the sector Opportunities coming up for teacher The course will help the government in training training institutes its teachers as per the provisions of Right to Education act. The online training will also help the state government to save the expensive Teacher training institutes are expected to incurred in sending a teacher for training and witness new opportunities due to changing recruiting a substitute teacher in lieu of the government regulations. Aspiring teachers in existing one. The state is already facing Delhi will now have to clear the Central shortage of trained teachers, which is causing Teachers Eligibility Test (CTET) in order to be fit hindrances in implementation of RTE in the to teach. The test conducted by Central Board state. of Secondary Education (CBSE) — has been made mandatory by the state government — for recruitment of new teachers. The rule will Tamil Nadu is going for upgradation of be applicable to class I — VIII teachers of both government, as well as private schools. schools The state of Tamil Nadu will be investing in The new rule falls under the requirements of upgradation of its middle schools. The state the Right of Children to Free and Compulsory government has announced of allocated Education Act 2009. As per the act, the National INR36.17 crore for upgrading the infrastructure© Indalytics Advisors l www.indalytics.com l businessineducation@indalytics.com 6
  • Business in Education February 2012 and appointing 1,267 teachers under the Other Prominent Trends in the ‘Education for all’ scheme. The amount will be Sector utilized in approximately 1050 higher secondary and secondary schools, run by the state government. In order to control the school Educational institutions will have to dropout rate and improve the enrollment ratio, follow accounting standards the government has also allotted INR491 crore for free products such as footwear and bags to the students. Educational institutions in India will now have to bring transparency in their books of accounts, and maintain them as per a Demand for ombudsmen expected to prescribed standard. Accounting regulator, Institute of Chartered Accountants of India increase (ICAI), upon the request from Human Resource Development (HRD) Ministry, has Higher education institutions are expected to recommended that all the educational implement grievance redressal mechanisms. institutions should follow a single practice of The HRD ministry has asked all the higher accounting. educational institutions, affiliated with the University Grants Commission (UGC), All India Council for Technical Education (AICTE) and the ICAI has recommended that the institutes will National Council for Teachers Education (NCTE) have to follow the accounting standards to to have the required mechanism before the clearly depict the sources and application of the commencement of the 2012 academic year. As funds. The recommendations have been per the directive, all the institutions will be accepted by the HRD ministry, which plans to required to constitute an Ombudsman to help make the accounting rules compulsory from the students during the admission time. The 2013 academic session. The rules will be Ombudsman will be a person having adequate applicable to all the schools, affiliated to the judicial or legal experience, and will act on the Central Board of Secondary Education (CBSE). grievances and queries of applicants. Other government institutes, coming under the rules, will be colleges and universities controlled by AICTE and UGC, Indian Institutes of Technology, Indian Institutes of Management and National Institutes of Technology. At present, only the government–controlled institutes are required to submit their books of accounts to the government and the Comptroller and Auditor General of India for audit.© Indalytics Advisors l www.indalytics.com l businessineducation@indalytics.com 7
  • Business in Education February 2012 20 women-only universities coming up in XII 5—year plan Delhi schools will be allowed to admit students aged 3+ in preschools UGC, under the XII 5—year plan, has proposed 20 universities, including 800 colleges, catering Private schools in Delhi, which have preschool exclusively to women. The proposal includes classes, will now be allowed to admit students setting up and upgrading of autonomous aged three plus years. The Delhi High Court, in colleges, and increasing the intake capacity of an order, has allowed schools in the city to existing education institutions. The universities admit students — more than 3 years old — in will cover the rural and sub-urban parts of the preschools, provided they will be graduated to country. preprimary classes, without going through the entrance exams again. The initiatives will be completely funded by the central government, with the state As per the court’s rule, all other schools, which governments helping in land procurement do not provide preschool education, the regular through existing universities. UGC has further pre-primary education will be treated as entry proposed a four-time hike in funds allocation level, where students aged four plus years will during the XII 5—year Plan from INR46,632 be eligible for admission. crore to INR1,84,740 crore to achieve its initiatives.© Indalytics Advisors l www.indalytics.com l businessineducation@indalytics.com 8
  • Business in Education February 2012 Companies’ Score Card Debt- Price- Market Operating Equity Equity Price Margin Net Margin Ratio EPS Ratio change Q2-2012 Q2-2012 Q2-2012 Q2-2012 January January (%) (%) (%) (INR) 31, 2012 2012 (%) Computer Software Training Aptech Ltd. 14.4% 17.1% 0.0% 0.97 90.67 34.7% Computer Software Training BITS Ltd. 38.4% 38.4% 0.5% 0.00 N.A. 4.0% Computer Software Training NIIT Ltd. 11.6% 3.5% 60.0% 0.44 95.68 12.6% Software Technology ERP for Group Educational International Institutions Ltd. N.A. N.A. 112.7% N.A. N.A. -4.6% ICT Birla Shloka Solutions Edutech Ltd. 7.8% 3.4% 15.8% 2.07 4.35 36.2% ICT Compucom Solutions Software Ltd. 62.6% 16.9% 33.3% 0.38 32.79 -2.4% CORE Education and ICT Technologies Solutions Ltd. 39.35% 19.9% 82.9% 3.56 72.53 0.4% ICT Edserv Solutions Softsyst Ltd. 13.3% 4.1% 3.4% 0.51 83.53 5.6% ICT Educomp Solutions Solutions Ltd. 44.5% 11.8% 55.7% 2.70 79.85 12.9%© Indalytics Advisors l www.indalytics.com l businessineducation@indalytics.com 9
  • Business in Education February 2012 Debt- Price- Market Operating Equity Equity Price Margin Net Margin Ratio EPS Ratio change Q2-2012 Q2-2012 Q2-2012 Q2-2012 January January (%) (%) (%) (INR) 31, 2012 2012 (%) Everonn ICT Education Solutions Ltd. 49.0% 6.7% 47.0% 2.39 116.76 -17.7% Comp-U- Learn Tech IT Education India Ltd. 24.9% 18.5% 2.8% 0.37 45.68 21.6% Jetking IT Education Infotrain Ltd. 13.9% 5.6% 12.9% 0.98 63.42 29.1% Tree House Education & School Accessories Education Ltd. 60.9% 29.0% 26.3% 1.75 122.37 32.8% School Education Zee Learn Ltd. -50.8% -51.4% 44.5% -0.24 N.A. 19.7% Career Point Infosystems Tuitions Ltd. 35.4% 25.5% 0.0% 3.33 77.48 26.7%© Indalytics Advisors l www.indalytics.com l businessineducation@indalytics.com 10
  • Business in Education February 2012List of Institutions and OrganizationsACE BPO Services Pvt. Ltd. India PostAvendus Capital Indira Gandhi National Open UniversityApple Incorporation Jetking Infotrain Ltd.Aptech Ltd. Madurai Kamaraj UniversityBeaconhouse School System McGraw-HillBest Western International New Silk Route PartnersBharathidasan University NIIT Ltd.Birla Shloka Edutech Ltd. Oakridge International SchoolBITS Ltd. PearsonBoden Services Inc Shouk Investement ConsultancyCareer Point Infosystems Ltd. Siva Sivani Institute of ManagementCompucom Software Ltd. Software Technology Group International Ltd.Comp-U-Learn Tech India Ltd. SPRY Resources India Pvt. Ltd.CORE Education and Technologies Ltd. Tokyo University of ScienceDivya Knowledge Process Management Ltd. Tree House Education & Accessories Ltd.Edserv Softsyst Ltd. University of HyderabadEducomp Solutions Ltd. Varsity Education Management Pvt. Ltd.Everonn Education Ltd. Vikas Educational Institutions Ltd.Harrison College Zee Learn Ltd.© Indalytics Advisors l www.indalytics.com l businessineducation@indalytics.com 11
  • Business in Education February 2012 Get connected to thousands of readers of Business in Education Business in Education is a monthly report, targeted at the supply side of Indian education sector. The magazine is demanded by the key decision makers of educational institutions and service providers. Our readership spans across directors and trustees of educational institutions, to CEO/directors of companies that provide services to educational institutions. Report’s readership - though primarily concentrated in India – is scattered across countries such as the US, the UK, Russia, UAE, Australia etc. We would like to invite organizations that want to promote their brands and services, to join us. This report is an ideal platform for them to reach to all the key decision makers, on the supply side of Indian education sector. For alliance opportunities, please write to us at businessineducation@indalytics.com Partial list of organizations, where this report is being read: A K Vidyamandir Group of Institutions Aspire Human Capital Management Pvt. Ltd. Aaron Institute Auuro Educational Services Aditya Birla Public School, Renukoot AZURE IT Solutions AEC Business School Bharat Forge Ltd. - Kalyani Group Afairs Exhibitions and Media Pvt. Ltd. Billabong High International Schools Alethia Education Birla Edutech Ltd. Amity University Rajasthan BrainTree Global School Anovus Institute of Clinical Research Brainy Kidzs Apeejay Stya University Brightstar Learning Ltd. ApplyEzee Education Private Ltd. British Council Aravali Institute of Management at Jodhpur Cambridge Public School Art of Learning Campus World Inc Asia Direct Career Cubicle Pvt. LTD. Asia Pacific Institute of Management Delhi Career Launcher© Indalytics Advisors l www.indalytics.com l businessineducation@indalytics.com 12
  • Business in Education February 2012 Career Point Infosystems Ltd. Edunova Educational Research And Training Pvt Ltd Castle Rock Research Corp. edupaedia.in Centum Learning Ltd Edupower.in Charisma International Education Centre, Nigeria Eduvision India Services CL Educate (Career Launcher) Eduwaves Classteacher Solutions Edvance Learning Connect2Gurukul Edvance Learning Pvt Ltd Credila (HDFC LTD) E-KIDS Solution Private Ltd. DALIA Institute of Management Elsevier India DARE, a monthly magazine on Entrepreneurship. Elyon Education Delhi Public School Emerge Learning Services Ltd. Department of Education Ernst & Young Deutsche Bank Group EuroKids International Ltd Donbosco Tech, India Everonn Education Ltd. E learning Evolve XL Pvt Ltd E Z Vidya Examville.com, LLC Easy Learning India Exioms Ecole Solutions Pvt Ltd Explorers School EdSaas Hyderabad EZVidya Pvt. Ltd. Edsine Feydhoo School, Maldives Education World Magazine FIITJEE Ltd. Educational Initiatives FinPac Financial EducationWorld Focus Educare Pvt. Ltd. Educomp Raffles Higher Education Ltd Future Focus Infotech Educomp Solutions Ltd Future VISTA View Edu Tech Pvt. Ltd. EduNirvana Pvt Ltd Gabss EduSkill Ltd.© Indalytics Advisors l www.indalytics.com l businessineducation@indalytics.com 13
  • Business in Education February 2012 GD Goenka World Institute (Lancaster University) Ignite Young Minds GEMS Education IIT Kharagpur Gladioli Education IL&FS Education and Technology Services Ltd. Global Education Management Corp. iLearn-International Global indian school India Entry 360.Com Global Learning India Venture Partners Global Workforce Development & Consulting IndiaCan Education Pvt. Ltd ( A Pearson Educomp Organisation Company) Globalshiksha.com IndiaCo Ventures Ltd. Gokuldham high school and junior college Indian School of Business & Finance Grassroot Infosolutions Pvt Ltd. Indic Institute of Design and Research Harbinger Knowledge Products Indigram Skill and Knowledge Initiatives Pvt. Ltd HCL Technologies Ltd. Indus Learning Solutions Pvt Ltd higherstudy.com Informatica HOC Educational Services Pvt Ltd Innovative School of Business & Management Pvt. Ltd. HTC School Intarvo Technologies Ltd. i Big Wonder Integrated EduTeam IAMR Group of Institution iProf India IANS Education Services Jagran Social Welfare Society IBMR Business School Jain Group of Institutions ICFAI Jain Heritage, a Cambridge School ICS GROUP Jetking Infotrain Ltd iDiscoveri Education Pvt. Ltd. Kakubhai Parikh Group of Schools IDP Education Pty Ltd. Kaligi Ranganathan Montford Group of Schools iE&D Solutions BV Kangaroo Kids Preschools iEdvantage Kennedy School iGATE Patni© Indalytics Advisors l www.indalytics.com l businessineducation@indalytics.com 14
  • Business in Education February 2012 KPMG N & Z Edu Solutions Pvt Ltd KQM Consultants narayana educational institutions Laetus Education Private Ltd. Nascent Edutech Pvt. Ltd. Latitude Edutech Consulting Pvt. Ltd. National Geographic Explorer Leading Education Management Enterprise Navitas LeapEd Knowledge Solutions Pvt. Ltd. Next Education India Pvt. Ltd. Liberty Anything Skool NHELITE Education Services Ltd. LIGHT EASY MIND Training & Coaching NIILM School of Business Literati Training Private Ltd. NIIT Ltd. Lord Krishna Group of Institutions NIMS Lotus Learning Pvt Ltd Norwest Venture Partners Macmillan Publishers India Ltd. Okapi Consultancy Ltd Mahadev Educational Initiative Panacea People Group Mahatma Gandhi International Schools Panjab University, Educational Institution, Chandigarh Mail Today Peapod Preschool Manya Education (P) Ltd. Pearson Education India Mastermind Classes Pearson Education Services Pvt. Ltd. (Edurite MBAGuru - Roots Education Pvt. Ltd. Technologies) Mehan Edusolutions Pvt. Ltd Pearson Learning Solutions & Edexcel Ltd.U.K. Mexus Education Pvt Ltd Pedagogues Education India Pvt. Ltd. Mind Shaper Technologies Pvt Ltd. Power Coaching MM ACADEMY Pratham Edusys Pvt Ltd Modern Public School PricewaterhouseCoopers Pvt Ltd Modi Public School Prism Infosolution MRV International school Promethean MyTrustedTutor.com PT Education© Indalytics Advisors l www.indalytics.com l businessineducation@indalytics.com 15
  • Business in Education February 2012 PT universe Shri Shankaracharya Group of Institutions Q Point Shrishti Institutional Support for Economic Development Quest Tutorials Smart Careers(Career Launcher) R.D. Computers & Technologies Space Technology & Education Pvt. Ltd Radcliffe School Sraw Educational Initiatives Radiant Educational Investment LLC St. Francis ICSE School Rai Foundation St. Soldier Management and Technical Institute Reliable Institute of Law Strategum Eduserve Pvt. Ltd. Reliable Institute of Management & Technology T.I.M.E. Pvt. Ltd. RESONANCE Eduventures Pvt Ltd Tata Teleservices Ltd. Right Track Admizzionz Campuz Teachwell P S Institute Pvt. Ltd. RIS Tech Pvt. Ltd. Techno Alliance Roots Education Technopak Advisors Rumi Education Private Ltd. TECNIA GROUP OF INSTITUTIONS Sai Educations Tekbos Business Solutions India Private Ltd. Saint-Gobain Gyproc India Ltd. The Achievers Programme Samskar Academy of Kids Education Pvt. Ltd The Economic Times SANAKO Corporation The Parthenon Group Sancta Maria International School, Hyderabad The Princeton Review Sattava Edusys Pvt. Ltd. The Shri Ram Competitive Classes School Serv The Times of India Schooladmissions.in The Wall Street Journal se.eds - Swedish Education Services Theschoolworld.com Shanti Business School Third Academy School shiksha.com(Education Portal) at Info Edge India Ltd TQMS Global Shivaani Educational Services Private Ltd. Universal Education Consultants© Indalytics Advisors l www.indalytics.com l businessineducation@indalytics.com 16
  • Business in Education Vibgyor High School February 2012 Vidya Prakashan Mandir Ltd University of Mumbai Vidyalankar Group of Educational Institutes University of Warwick Vyasa Learning Solutions (P) Ltd University of Westminster Youreka - idiscoveri Upacaar Zee Learn Ltd. Usha Martin Education & Solutions Ltd. Zentrum VectorSpan Inc.© Indalytics Advisors l www.indalytics.com l businessineducation@indalytics.com 17
  • Business in Education February 2012 Disclaimer The information contained in this report is of a general nature and is not intended to address any particular individual or entity’s circumstances. Although proper care has been taken to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. The list of companies under ‘Partial list of organizations, where this report is being read’ is the list of companies, where at least one employee has either subscribed to the report, or is receiving it, without explicitly showing his or her intention to get unsubscribed from the mailing list. Indalytics Advisors do not guarantee the company name provided by the readers to be accurate. It is understood that by receiving the report, the readers allow Indalytics Advisors to use their organizations’ name in its list of readers. If the readers have any objection to it, then they should report it to Indalytics Advisors immediately. Their absence of objection will be treated as their approval to use their and their organizations’ name in this report. Indalytics Advisors Private Limited does not guarantee that the information contained in this report is authentic and reliable. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. In order to get free subscription to Business in Education, please mail us at businessineducation@indalytics.com If you want to advertize your products and services through this report, then please write to us at business@indalytics.com Publication Volume: 12-002 Publication Date – February 2012 © 2012 Indalytics Advisors Private Limited For further information, please contact businessineducation@indalytics.com© Indalytics Advisors l www.indalytics.com l businessineducation@indalytics.com 18