CL Educate Limited has announced a significant leadership appointment at its material unlisted subsidiary, DEXIT Global Limited (formerly NSEIT Limited). The Board of Directors approved the appointment of Dr. Abhay Jere as Managing Director and Chief Executive Officer during their meeting held on February 27, 2026.

Appointment Details

The appointment encompasses Dr. Jere's designation as Additional Director in the Non-Independent, Executive Director category, along with his role as Managing Director and Chief Executive Officer, which qualifies him as Key Managerial Personnel of the company.

Professional Background

Dr. Abhay Jere brings extensive experience as a global technology, innovation, and digital transformation leader with over 24 years of experience spanning industry, government, and research sectors. His educational credentials include a Ph.D. in Health Sciences from Pune University and the University of Tokushima, Japan, along with an M.Tech (Equivalent) in Downstream Processing from UDCT, Mumbai.

Career Highlights

Dr. Jere's professional journey includes several notable positions:

• Vice Chairman of All India Council for Technical Education (AICTE) and Chief Innovation Officer at the Ministry of Education, Government of India since August 2018
• Vice President and Head of R&D and Innovation at Persistent Systems Ltd., Pune, from June 2010 to August 2018
• Demonstrated board-level governance and national-scale leadership influencing over 14,000 institutions

Areas of Expertise

Dr. Jere possesses deep expertise in several critical technology domains:

• AI-enabled platforms and SaaS solutions
• Data monetization strategies
• Digital ecosystems development
• Large-scale transformation initiatives

He has successfully conceptualized and launched multiple software products and flagship national programs, while serving on several Government of India empowered committees. His international exposure spans across the USA and Japan, complemented by over 20 international scientific publications.

Regulatory Compliance

The appointment has been disclosed in accordance with Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has confirmed that Dr. Jere is not related to any existing directors of the company, ensuring compliance with corporate governance requirements.

The disclosure was signed by Rachna Sharma, Company Secretary and Compliance Officer, on February 28, 2026, from New Delhi, with the information also being hosted on the company's website at www.cleducate.com .

CL Educate Limited has released its investor presentation for Q3FY26 and nine months period ended December 31, 2025, revealing mixed financial performance with strong revenue growth offset by operational challenges. The education technology company conducted an earnings call on February 06, 2026, to discuss its unaudited financial results.

Financial Performance Overview

The company demonstrated robust top-line growth with consolidated revenue increasing significantly across its business segments. Business EBITDA showed exceptional improvement, though bottom-line performance faced headwinds from increased costs.

Segment-wise Performance

EdTech Division

The EdTech segment faced challenges with revenue declining to ₹127 crore from ₹150 crore in the previous year, representing a 15% decrease. Business EBITDA for this division dropped 39% to ₹18.6 crore from ₹30.7 crore.

Key highlights from the EdTech business include renewed interest in MBA coaching following a difficult CAT exam, steady performance in the Law segment, and growth in Platform Monetization with carry-forward revenue at ₹1.9 crore versus ₹0.4 crore last year. The division launched newer variants at multiple price points and expanded AI-driven academic support.

MarTech Division

The MarTech segment showed steady growth with revenue increasing 9% to ₹121 crore, comprising ₹81 crore from India operations and ₹41 crore from international markets. EBITDA grew 10% to ₹11.6 crore.

New client acquisitions included PwC, Himalaya, and Zoho, while the APAC region added marquee accounts like Autodesk, H2O, Certis, and Xiamen Airlines. The Utsav social events vertical generated ₹6 crore in nine-month revenue.

DEX (Digital Examination Solutions)

The DEX division delivered strong performance with revenue growing 12% to ₹194 crore and business EBITDA increasing 24% to ₹42 crore. The division achieved 100% client rollover post-acquisition and conducted nearly 70 lakh exams during the year, including approximately 25 lakh certification and accreditation exams and 45 lakh recruitment and entrance exams.

SATHI Platform Launch

CL Educate launched SATHI in January 2026, a comprehensive assessment platform measuring Critical Thinking, Creativity, Communication, and Collaboration skills. The platform addresses the evolving needs of educational institutions beyond traditional domain knowledge testing.

The platform has empaneled 18 institutions offering 907 courses, with revenue potential from universities at ₹2.5 lakh per suite per year and schools at ₹2 lakh per class per year.

Operational Challenges

The company's net loss of ₹15.7 crore was primarily attributed to increased finance costs and depreciation totaling ₹68 crore compared to ₹15 crore in the previous year. This included actual interest costs of ₹21 crore and IND AS impact of ₹28 crore. Additionally, one-time exceptional expenses due to changes in labor codes amounted to ₹5.3 crore.

Business Outlook

CL Educate continues to strengthen its market position across multiple verticals, maintaining dominant market shares of 30-35% in MBA preparation and 35-40% in Law entrance coaching. The company operates 150+ centers across India and has expanded its international presence to 5+ locations in UAE and 9 locations across Asia and Africa, serving 400+ institutional clients.