Usha Martin Education & Solutions Ltd Share Price

History of Usha Martin Education & Solutions Ltd

Usha Martin Education & Solutions Ltd (UMESL), promoted by K Jhawar Brij, was incorporated on August 18, 1997 under the name and style of 'Telecable Industries Limited'. The Company's name was changed to Usha Martin Infotech Limited (UMITL) effective from March 2000. In order to align its name to business thrust area, the company changed its name from Usha Martin Infotech Limited to Usha Martin Education & Solutions Limited (UMESL) in 2009. The Company is engaged in providing training to both freshers and professionals in different technical and functional modules of ERP. It has also initiated to impart training on customised ERP modules and assist the neighbouring countries to get trained and to enhance the employability skill. Way back In September 2000, the Company took over the ...Information Technology Division of Usha Beltron Limited and since then UMITL worked on emerging technologies like WAP and Symbian. On 4th September 2000 the Calcutta High Court approved the Scheme of Arrangement between the company and Usha Beltron Limited, whereby the IT and Knowledge based businesses of Usha Beltron Limited were transferedto the company with effect from 01.01.2000. Pursuant to the Scheme of Arrangement, the company allotted 26414411 Equity Shares of Rs.5 each fully paid up and 1000000 Cumulative Redeemable Preference Shares of Rs.50 each fully paid up to the shareholders of Usha Beltron Limited. The Software Services Business of the company at Gurgaon unit has been operational since August 2000. In the first seven months of its operations, the division achieved revenue of Rs.221.02 lakhs including from export earning of Rs.183.35 lakhs. The Learning Solution Business of the company at Chennai is a joint venture of the company with the Indian Institute of Technology(IIT),chennai. This academy is called UACT and provides various courses in the field of telecommunications, information technology and technology management. The company has invested Rs.5414.05 lakhs in Usha Communication Technology(UCT). UCT which was started by Usha Beltron Limited adn is one of india's very few Telecom Software Product companies. During the year 2000-01, the company has entered into joint venture agreement with Samsung Group of Korea and Mittal group of India to form a private company to develop,market,sell,train,consult on and support software solutions and to supply technical resources and expertise and services ancillary thereto. The company and Mittal Group will each hold 24.50% of the equity of the joint venture, while Samsung Group will hold 51% of the equity. The company has made an investment of Rs.766.70 lakhs in this joint venture. The company has closed down its operation of Learning Solution Business during the year 2003-04. In 2008, the Company started shifting from information technology to education sector and in February 2008, it established training centres for various higher education courses under brand name 'Usha Martin Academy'. With a view to further its reach into education segment, it launched end-to-end education and school management solutions. The Company also helped in the establishment of several K-12 schools in the eastern part of India. During the period 2013-14, the wholly owned subsidiary of the Company, Usha Martin Education Private Limited (UMEPL) changed its business model to licensing and consultancy and sold off its School Management Business 'as a going concern' to Usha Breco Education Infrastructure Limited, a Company formed for sole purpose of School Management Solutions.