CL Educate revenues up 55% y-o-y to ₹570 crore for FY26 with strong operating cash flows

Cl Educate in its Q4 and full year FY26 financial results yesterday reported a sharp jump in revenue, EBITDA and cash flow from operations, reflecting the first full year of business performance of the digital examination business DEXIT Global acquired from the National Stock Exchange (NSE). Consolidated FY26 – Key…

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Why Exam Security Is DEXIT’s Strongest Competitive Moat

Part 2 of an Investor Series on CL Educate’s Strategic Acquisition In the first article of this series, we argued that DEXIT Global is often mischaracterised as an “exam services company,” when in reality it functions more like mission-critical examination infrastructure. This second note goes one level deeper — into…

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Wollastonite in Ceramics: The Quiet Mineral Behind Faster, Stronger Tiles

Walk into any modern Indian home and look at the floor. Chances are, the tiles came from Morbi in Gujarat – the cluster that produces nearly 70% of India’s ceramic tiles and exports to over a hundred countries. What most buyers do not see is the constant pressure on tile…

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20 Microns: From Commodity Minerals to Specialty Solutions – A Quiet Transformation

We have written earlier on how our IR client 20 Microns is building a R&D focused business with considerable value addition, while the market perhaps still views it has a plain vanilla mining and mineral business. It is incredible how market is driven more by perceptions rather than real research….

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20 Microns expanded EBITDA margin in Q2 FY26

In a quarter when revenue was slightly down, 20 Microns, India’s leading R&D driven specialty industrial minerals company, reported higher profits on the back of normalisation of operating margins. Its EBITDA margin was impacted for the last few quarters due to logistics costs and was running below 13%. Improvement in…

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Innomet Advanced Materials Defence Order Book at Rs 8.1 crore

Innomet Advanced Materials Limited, our Investor Relations client listed on NSE SME exchange, recently informed the stock exchange in regard to its Order Book as on October 31, 2025: Defence Establishment Orders in THA* Vertical: Value of Rs. 8.1 crore Export Order in MP (Metal Powders) Vertical: Value of USD…

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Kaolin clay (Left) and Metakaolin (Right)

How 20 Microns helps build High Performance Concrete

For complex infrastructure and construction projects, normal concrete comes short. These projects need what is called High Performance Concrete, which is made by adding certain special additives to cement. Called Supplementary Cementitious Materials (SCMs), these additives have emerged as a key innovation in concrete technology. 20 Microns Limited, an R&D…

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Allen’s FY25 Profit Plunge: A Stark Reminder of the Challenges in Scaling Test Prep

Allen Career Institute, a name synonymous with India’s test prep ecosystem, has reported a sharp decline in its financial performance for FY25. The company’s net profit plummeted by 70%, falling to ₹41 crore from ₹136 crore the previous year. Revenue also dipped slightly to ₹3,067 crore, down from ₹3,473 crore…

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MIDHANI and the Materials of Tomorrow: A Strategic Growth Story

As India’s strategic ambitions in defense, aerospace, and energy continue to expand, the listed public sector firm Mishra Dhatu Nigam (MIDHANI) finds itself at the intersection of national priorities and advanced materials engineering. The company’s recent performance and commentary reveal a business that is not only stable but actively positioning…

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Innomet Advanced Materials: Engineering the Future with Powder Precision

Innomet Advanced Materials, a company that listed on the listed on the NSE SME Exchange a year ago in Sep’24, is an emerging player in a sector that caters to futuristic businesses. Innomet specialises in  powder metallurgy—a field that underpins some of the most critical applications in modern industry. The…

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