S Chand delivers best Q4 working capital metrics in FY25

In the highlights of the FY25 results, the company reported improved gross margins by over 500-bps in the past five years, and improved EBITDA margins by 590-bps in the past five years. The company consistently generated operating cash flows of ~ INR 1,000-m every year over the past five years,

During FY25, S Chand delivered EBITDA margin of 18.8% which is at the higher end of it guided range of 17%-19%. During FY25, the company reported operating income of INR 798-m (up 65% YoY). It also reported best Q4 working capital efficiency in the company’s history. 

Himanshu Gupta, managing director of S Chand and Company, said, “FY25 sales season saw a relatively minor impact from the new NCERT books based on the NCF syllabus since NCERT books based on the new syllabus were launched for only two classes (third and sixth) during this year.”

“Looking ahead, we are quite optimistic for FY26 since CBSE has released a circular in March, 2025 stating that new NCERT books would be launched for 4 Classes — fourth, fifth, seventh and eighth during the next few months. On the back of this development, we expect FY26 and FY27 to see complete adoption of the new syllabus books for the K12 segment which should strongly support our growth trajectory over the next two years,” he said, adding, “We are proud to say that we continued to be a net debt-free company at the end of FY25 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.”

Saurabh Mittal, Group CFO of S Chand and Company, said, “Our consolidated revenues reached INR 7,197-million, EBITDA of INR 1,350-million and PAT of INR 602-million. We showed healthy revenue growth and achieved the highest level of gross margins, EBITDA margins, operating income and PAT in the past five years. Our Operating income increased to INR 798-m (against INR 484-m in FY24), an increase of 65%YoY.”

He added, “All this resulted in generation of strong operating cash flows at INR 999-m for FY25. We Have increased our dividend to INR 4/share (against INR 3/share in FY24) and have remained net debt free at year end with a positive net cash balance of INR 1,036-m. 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.”