S Chand’s operating income surges 65% to Rs 48-crore in FY24

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.

27 May 2024 | By Rahul Kumar

Himanshu Gupta, managing director of S Chand and Company

Saurabh Mittal, Group CFO of S Chand and Company, said, “Our consolidated revenues reached Rs 6,626-million, EBITDA of Rs 1,098-million and PAT of Rs 511-million. We showed healthy revenue growth, the highest gross margins and EBITDA margins in the past five years. Our operating income increased to Rs 484-m (against Rs 292-m in FY23), an increase of 65% YoY.

All this has resulted in the highest-ever operating cash flows in the company’s history at Rs 1,211-million (against Rs 811-million in FY23). 

The company has announced its annual dividend of Rs 3/share and has become net debt-free at year-end with a positive cash and equivalents balance of Rs 600-million.

Mittal added, “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.”

Himanshu Gupta, managing director of S Chand and Company, 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 utilising this opportunity to the fullest over the next two years.

He added that contrary to 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 until March 24. 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 the long term.”