Mr. Anil Suresh Kapasi, aged 51 years, is the Promoter, Managing Director of the Company. He has completed his Bachelor of Science (Physics) from University of Bombay in 1994. He also holds degree in Bachelor of Education from University of Bombay. He is having around twenty-five years of experience in coaching industry. He has been widely acclaimed as an excellent teacher for Algebra and Physics during his teaching days. He currently heads the Science section of all branches of “Arihant Academy”. He gives direction to the company and is responsible for planning and executing the expansions and diversification of the company. He is result-oriented, focused, visionary, hardworking and provides strategic advice and guidance to the members of the Board to keep them aware of developments to ensure that appropriate policies are developed. Mr. Umesh Anand Pangam, aged 51 years, is the Promoter, Chairman and Whole Time Director of the Company. He has completed his Bachelor of Commerce (Financial Accounting and Auditing) from University of Bombay in 1993. He also holds degree in Bachelor of Education from University of Bombay. He is having around twenty-five years of experience in coaching industry. He is well-known as one of the best teachers of History and Political Science during his teaching days. He currently heads the school (SSC & ICSE Boards) and Commerce section of all branches of “Arihant Academy”. He works diligently behind the scenes, making optimum use of the resources and skillfully solving problems. He also manages the finances of the company. Mr Harsh Anil Kapasi, aged 24 years, is the Non-Executive Director and Chief Operating Officer of the Company. He has completed his Bachelor of Engineering (Computer Engineering) from University of Mumbai in 2020. He is the youngest member of the Board of Directors of the company. He has been enhancing the digital footprint of “Arihant Academy”. He undertakes the new-age initiatives to ensure that we continuously focus on student-centricity even during the pandemic years, by putting learning tools and technology to their best use. He has also developed the App - Arihant Edge App which provides the simplest data like Lecture Schedule, Attendance, Marks to complex details like Chapter Performance, Time Analysis, Monthly Performance and Assignment or Notes details. He currently looks after the Digital Marketing and Technical Department of the company.

Review and Recommendation of Arihant Academy SME IPO is 3/10 1. Arihant Academy provides coaching services and educational support in the western suburbs of Mumbai, Maharashtra for Class 8, 9 and 10 for both State Board and ICSE Board; Class 11 and 12 for commerce and science; and teaching students in science for JEE (Main), JEE (Advanced), and MHT- CET. 2. (State level), NEET (National level), MHT- CET (State level, Maharashtra), and training students for professional exams like CS and CA in the commerce sector. They provide a hybrid form of teaching through classroom-based Chalk & Talk coaching and digital and online learning to enhance our classroom courses and allow self-paced study. 3. All services are offered through classroom-based training programmes delivered by a network of individuals working for the organisation and they manage the School section, the Commerce area, and the Science section. They serve about 6,000 students across the three sectors and 14 coaching facilities. 4. As of October 31, 2022, our office (including our coaching centres) has 155 teaching personnel and 145 non-teaching staff to handle day-to-day business operations, administrative, secretarial, legal, and financial activities. 5. They have few similar competitors. They believe client relationships, reputation, quality, and pricing effect competition in their business. 6. Revenue has decreased from 19 Crores in Fy20 to 15 Crores in Fy22. 7. PAT has increased from 42 lakhs in Fy20 to 2 crore in Fy22 8. EBITDA has increased from 1.36 Crore in Fy20 to 3.26 Crore in Fy22 9. EPS of Fy22 is 3.33, Market Capitalization is 54 crore so, P/E of IPO is 27.

Arihant Academy Limited Ground Floor, Triveni Sadan, Opp Ambe Mata Temple, Carter Road No. 3, Borivali (East), Mumbai – 400066 Phone: +91 9920781706 Email: investors@arihantacademy.com Website: http://www.arihantacademy.com/