Navneet Education Ltd. Results

H1FY25 Half Yearly Result Announced for Navneet Education Ltd.

Publishing company Navneet Education announced H1FY25 results Total Revenue from publication business was Rs 498 crore as compared to Rs 504 crore in H1FY24. Total Revenue from Stationery Business stood at Rs 563 crore registering a growth of 3% as compared to H1FY24. Exports Revenue stood at Rs 390 crore, a growth of 9% as compared to H1FY24. Domestic Revenue stood at Rs 173 crore, a de-growth of 9% as compared to H1FY24. Working Capital Cycle as on H1FY25. Receivable Days – 56 days. FG Inventory Days – 55 days. RM Inventory Days – 80 days. The Board of Directors have declared the interim dividend of Rs 1.50 (i.e.,75 %) per equity share having face value of Rs 2/- each for the financial year 2024-25. Gnanesh (Sunil) Gala, Managing Director, said: "In H1FY25, revenue remained largely stable at Rs 1,065 crore, compared to Rs 1,053 crore in H1FY24. EBITDA for the period was Rs 236 crore, up from Rs 219 crore in the same period last year. In our publication segment, curriculum reductions for specific grades by State Boards required us to redesign certain products, impacting realizations. However, stable paper prices allowed us to set accurate pricing, which led to better-than-anticipated volume growth compared to the same period last year. This volume increase offset price reductions, maintaining stable revenue at Rs 498 crore, compared to Rs 504 crore in H1FY24. In the domestic stationery business, revenue for the period was Rs 173 crore, down from Rs 189 crore in H1FY24. This decrease was primarily due to product repricing following reduced raw material costs. However, in absolute terms we saw marginal growth in volumes across categories. Additionally, domestic sales faced some pressure due to slower-than-expected movement in channel-level inventory in key markets. To regain sales momentum in the domestic market, we are expanding our offerings within existing paper stationery categories and planning new product introductionsin non paper categories. Our export stationery business continued to strengthen, driven by growing demand for both traditional paper-based and modern non-paper products. Revenue for the period stood at Rs 390 crore, up from Rs 358 crore in the same period last year. In the export market, we have introduced new product categories in both paper and non-paper segments, and we have started receiving encouraging inquiries including the products which were evaluated for ADD."

Q1FY24 Quarterly Result Announced for Navneet Education Ltd.

Publishing company Navneet Education announced Q1FY24 results: Revenue of Rs 791.5 crore in Q1FY24 compared to Rs 693.7 crore in Q1FY23, up 14.1% YoY EBITDA of Rs 208.9 crore in Q1FY24 comapred to Rs 195.3 crore in Q1FY23, up 7.0% YoY PAT of Rs 144.9 crore in Q1FY24 compared to Rs 152.3 crore in Q1FY23, down 5.0% YoY EPS of Rs 6.41 in Q1FY24 compared to Rs 6.77 in Q1FY23 Gnanesh (Sunil) Gala, Managing Director, said, “The first quarter has consistently been a robust period for our standalone Publication business, primarily due to the reopening of SSC board schools in June. This segment comprises workbooks, guides, and question banks tailored for students attending SSC board schools in Maharashtra and Gujarat, where we currently dominate with over 2/3rd the market share. Our Publications business revenue grew by 20% year on year to Rs 427 crore. EBITDA showed a growth year-on-year, driven by the implementation of strategic price increases and an increase in sales volumes compared to the same period last year. Domestic Stationery business revenue for Q1FY24 grew by 22% year on year to Rs 143 crore. Due to the inherent nature of the business, there is always a two-quarter lag in the procurement of raw materials and sales realization. Hence the margins were affected due to the escalation in raw material prices which was procured in the previous quarters. However, to gain the market share we made a strategic decision to absorb some of the cost increase and not immediately pass it on to consumers. Fortunately, in the current quarter, raw material prices have started to decline, and coupled with an improved demand scenario, we are confident that the company will be able to achieve revenue growth of +15% in FY24 compared to FY23, with an enhanced margin profile. Exports Stationery business revenue for Q1FY24 grew by 3% year on year to Rs 214 crore. One of our product categories is currently being evaluated for potential anti-dumping duty in the USA. As a result, orders from this category were not received during Q1. This category generally constitutes ~8% - 10% of our export revenue in a year. Going forward, the company has taken appropriate measures to accommodate the orders from customers in this category, ensuring a proactive approach to address the situation effectively. However, the growth in our other existing products managed to offset this setback. As an Indian player in the export market, our brand equity is exceptionally strong, primarily attributed to our commitment to providing quality products and services. To further expand in the export market, we have devised a strategic plan to introduce new offerings beyond paper-based products and focus on value-added products. Our Ed-tech business which is under Navneet Futuretech Limited - the Board of Directors has guided for review of our Ed-tech portfolio and strategy considering the current Edtech scenario. We will present a comprehensive strategy to the Board very soon.”

Q3FY22 Quarterly Result Announced for Navneet Education Ltd.

Publishing company Navneet Education declares Q3FY22 result: Navneet reports quarterly net profit of Rs. 54 crore and net profit of Rs. 121 crore (increase by 168%) for nine months period ended December 31, 2021. On Quarterly basis, the Standalone revenue from operations increased by over 84% to Rs. 235 crore and for the nine months period increased by over 27% to Rs. 783 crore. Similarly on quarterly basis, it achieved standalone net profit of Rs. 54 crore as against loss of Rs. 8 crore for the corresponding quarter and for the nine months net profit jumped to Rs.121 crore from Rs. 45 crore.