Monday, July 15, 2024
News
NEWS HOME
PRN INDIA
S Chand Publishing Soars: Achieves Profitability, Becomes Debt-Free, and declare Rs3/share Dividend
  SocialTwist Tell-a-Friend  
   

NEW DELHI, May 31, 2023 /PRNewswire/ -- S Chand Publishing, India's leading education content publisher and book publisher reported its results for the fourth quarter & for the financial year ending 31st March 2023.

HIGHLIGHTS OF FY23 RESULTS

Some of the highlights of the FY23 results are as follows:

  1. The operating revenues reached Rs6,103 million, marking the highest level achieved in the past five years and showing a year-on-year increase of 27%.
  2. The company achieved an EBITDA of Rs963 million, its highest in the past five years, showing a year-on-year growth of 57%.
  3. The company recorded a net profit after tax (PAT) of Rs576 million, its highest in the past five years, reflecting a remarkable year-on-year increase of 616%.
  4. As of April 2023, S Chand successfully eliminated its net debt, becoming debt-free.
  5. S Chand reinstated its annual dividend payout after the financial year 2018 and announced a dividend of Rs3 per share.
  6. The company achieved its lowest receivables and net working capital (NWC) days during the fourth quarter, with receivables at 159 days and NWC at 188 days.
  7. In July 2022, S Chand exited its minority stake in Testbook, realizing a return of 7.8x, amounting to Rs180m.
  8. In December 2022, S Chand exited its minority stake in iNeuron, earning a return of 2.1x, totaling Rs138m.

COMPANY TURNS NET DEBT FREE IN APRIL, 2023

We ended the year with Net Debt of Rs60m (vs. Rs721m in Q4FY22) and Gross Debt of Rs1,268m (vs. Rs1,572m in Q4FY22). We turned Net Debt free in April, 2023.

LOOKING AHEAD to FY24

  • Target EBITDA margin band of 16%-18%.
  • Gross margins can increase in case paper prices decline during the year
  • Strong growth in S Chand Academy YouTube channel.
  • Focus on working capital metrics and cash flows to continue.
  • We look forward to announcement of NCF for more classes in CY23 which will help in volume expansion.
  • Operating revenues to be in the range of Rs720cr to Rs750cr (Vs. Rs610cr in FY23).
  • Would take a single digit price hike across portfolio in FY24.

Mr. Himanshu Gupta, Managing Director of S Chand and Company Limited, commented on the successful results and said,

"In FY23, S Chand and Company demonstrated strong growth momentum and we have crossed some very significant milestones during the year. The results of our performance in FY2023 reflects the strength of our operations and the hard work of our team. Our company's long-standing history and excellent reputation in the publishing industry, combined with the expertise of our experienced team has helped us maintain our market position and strengthen our relationships with schools, authors, and teaching community.

We are proud to say that we have achieved our goal of becoming net debt-free company in April, 2023 through consistent efforts on working capital management. Our strategic partnerships and collaborations have allowed us to expand our offerings and meet the changing needs of our customers. Our commitment is to continue this positive trend and enhance our financial position over the long term. We look forward to fuel the next leg of growth for our company on back of the National Curriculum Framework announcement in CY2023 by providing high-quality content and expertise to all students in line with our vision."

Mr. Saurabh Mittal, Group CFO of S Chand and Company Limited, commented on the annual results and said,

"Our consolidated revenues reached Rs6103 million, EBITDA of Rs963 million and PAT of Rs576 million. We showed healthy revenue growth and sustainable profit margins during FY23. We have reinstated our annual dividend after FY18 and we turned Net Debt free in April, 2023.

One of the strongest features of the company's result is our liquidity position and steady cash flows. We remain focused on building sustainable long-term value for all our stakeholders, and we believe that our unwavering commitment towards operational excellence and delivering value to our customers will continue to drive our success in the coming years."

About S Chand And Company

S. Chand and Company is one of the leading education content companies delivering content across the length and breadth of the country. The company provides content, solutions, and services across the education lifecycle through its presence in three business segments – Early Learning, K-12 and Higher Education. The company has a strong foothold in the CBSE/ICSE affiliated schools, WBSE affiliated schools with increasing presence in the state board affiliated schools across India. The company develops and nurtures its relationships with customers by developing quality content and educational innovations, and in recent years have increased focus on investing and improving the digital product offerings in each of the business segments.

The company has more than 11,000 book titles across competitive exams & reference books, technical & professional books, schoolbooks and higher academic books. We have presence and extensive distribution system across India through over 3000+ channel partners. The company also exports print content to over 20 countries and digital content to 5 countries in SAARC, South Asia, the Middle East, Africa, and other parts of the world. Some of the well-known brands include S Chand, Vikas, Madhubun, New Saraswati House and Chhaya Prakashani and digital brands S Chand Academy, Learnflix, Mylestone, SmartK, Testcoach, Destination Success, myStudygear, Madhubun Educate 360 and Ignitor.

Cision View original content:https://www.prnewswire.com/in/news-releases/s-chand-publishing-soars-achieves-profitability-becomes-debt-free-and-declare-rs3share-dividend-301838288.html

More News by PR Newswire India

/DISREGARD RELEASE: Bybit/

Kushal's Fashion Jewellery Festive Collection, adorned by Tara Sutaria, beautifully combines glamour and elegance

Unilumin Group Signed an Agreement with Saudi Arabia in the Third Belt and Road Forum for International Cooperation

Transport Corporation of India Ltd. (TCI Group) has been recognized as a Maritime Excellence Achiever at GMIS 2023 by The Ministry of Ports, Shipping & Waterways on 19th October 2023

Bitget Introduces 'Futures Quant' With AI Features

Bitget's Q3 Growth: Second-Highest Market Share Surge and Record High for BGB Holders

HarperCollins Publishers India is proud to announce the publication of SPREADING JOY: How Joyalukkas Became the World's Favourite Jeweller by Joy Alukkas with Thomas Scaria and Nidhi Jain

Go Global or Go Home: New Report Reveals Companies Lacking Global Presence Will Lose Growth Opportunities

MOVIN rolls out the second phase of Electric Vehicles in Bengaluru paving the way for greener deliveries in logistics

Motilal Oswal Financial Services Ltd. (MOFSL) launches #CorporateMushaira, an audio-first campaign for the World Investor Week

UBBF 2023 Intelligent IP Network Summit in Dubai an Impressive Success

Placing Them Right: IBS Path to MBA Career Success

HDFC ERGO reiterates its commitment on making health insurance Accessible, Affordable and Convenient with launch of 6 new products and 2 service upgrades

capSpire expands its global footprint with entry into the Singapore market

GTPL Hathway records its highest quarterly revenues from operation

CCTV+: International reporters experience the romance and vitality of Hangzhou, China

STL expands its Enterprise Networking solution portfolio with Estelan

Mantittude: Skincare for Men encourages men to unleash their inner 'Pataka' this Diwali

The 134th Canton Fair Opened with Optimized Structure and Upgraded Scale

MADAME TUSSAUDS SINGAPORE UNVEILS LIFELIKE FIGURE OF CRICKET ICON VIRAT KOHLI AMIDST ICC MEN'S CRICKET WORLD CUP!

Ugreen unveils power solutions and personal data storage at the Gitex Trade Show in United Arab Emirates.

Meridean Overseas Education Consultants Announces Half-Day Leave to Celebrate India vs. Pakistan Cricket Match

Xinhua Silk Road: Huai'an, UNESCO creative city of gastronomy, explores innovative dev. of food industry via premier regional food expo

Xinhua Silk Road: Fengxin County in E. China's Jiangxi celebrates bountiful harvest of kiwifruit

Casio to Release G-SHOCK Watches with Shining Metallic-Colored Dials

UEG Week 2023 : Babies with a low birthweight four times more likely to develop fatty liver disease in later life

CGTN: Diffusion of tea and its culture along the Silk Road

NEOM announces Leyja, its latest sustainable tourism destination

Expand North Star 2023 kicks off in Dubai gathering game-changing start-ups to accelerate on global stage

World Health Summit kicks off in Berlin

Hexaware Technologies announces new office in Dehradun to bolster its global delivery network

Chinese automotive industry has overtaken to supercars

Participants of the Made in Russia business mission to India held more than 150 negotiations with local importers and distributors

Rummy Passion Raises the Bar: Instant Withdrawals Now Available for All Tiers

 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
INDIA WORLD ASIA
Odisha: Lord Jagannath, siblings placed ...
Heavy rain lashes parts of Delhi; many a...
Home Minister speaks to CMs of Assam, UP...
BJP workers stage protests against Delhi...
After this government came into power, d...
Jharkhand Chief Minister Soren meets Pri...
More...    
 
 Top Stories
Sopra Steria launches an internatio... 
Rustomjee Group Unveils 'Ocean Vist... 
Lanka Premier League 2024: Gurbaz-S... 
Bulkcorp International receives in-... 
Union Sports Minister inaugurates B... 
Mari State University Celebrates MB... 
Pakistan: 3 die as car plunges into... 
Russian Army marches on 'Made in Bi...