S Chand’s EBITDA Hits ₹110 Crores in FY24 Operating Income Surges 65% to ₹48 Crores

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 2024.

FY24 Performance Highlights:

• Highest Gross Margins in the past 5 years
• Highest EBITDA Margins in the past 5 years
• Operating income up 65% YoY
• Highest Operating Cash flows in the company’s history
• Best Working Capital Efficiency in the company’s history
• S Chand Group becomes Net Debt Free
• Announces a Rs3/share final dividend

Mr. Himanshu Gupta, Managing Director of S Chand and Company Limited, commented on the successful results and said, “FY24 was a landmark year in terms of the announcement of the National Curriculum Framework for School Education (NCF SE) in August 2023. This long-awaited announcement has come after a gap of 18 years. We look forward to utilizing this opportunity to the fullest over the next 2 years.

However, contrary to our expectations, the announcement of the NCF SE did not impact the FY24 sales season much since NCERT did not come out with new syllabus books even till March, 2024. This led to a lower adoption of new syllabus books and most schools continued with the old syllabus books.

We expect FY25 and FY26 to see maximum adoption of the new syllabus books which should help our growth trajectory for the company. We are proud to say that we remained net debt- free company at the end of FY24 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 thelong term.”

Mr. Saurabh Mittal, Group CFO of S Chand and Company Limited, commented on the annual results and said, “Our consolidated revenues reached Rs6,626 million, EBITDA of Rs1,098 million and PAT of Rs511 million. We showed healthy revenue growth, highest Gross Margins & EBITDA Margins in the past 5 years. Our Operating income increased to Rs484m (vs. Rs292m in FY23), an increase of 65% YoY.

All this resulted in the highest ever operating cash flows in the company’s history at Rs1,211m (Vs. Rs 811m in FY23). We have announced our annual dividend of Rs3/share and have become Net Debt free at year end with a positive cash and equivalents balance of Rs600m.

One of the strongest features of the company’s results is our liquidity position and strong 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.”