S Chand and Company Limited continues robust growth in 1HFY23, operating revenue increased by 76% in 1HFY23

Logo S Chand and Company Ltd

NEW DELHI, NOVEMBER 12, 2022 (GPN)– S Chand and Company Limited, one of India’s leading educational content companies and market leader in the K-12 segment, announced strong financial figures in the period 1HFY23 and Q2FY23.

HIGHLIGHTS OF CONSOLIDATED BUSINESS

Consolidated business represents the performance of S Chand and its subsidiaries (S Chand Group)

Consolidated activity H1-FY23 vs H1-FY22 (annual basis)

The Company is in a seasonal industry where the 4e term contributes more than 80% of the annual income coinciding with the start of the academic year.

  1. The Exploitation productof the group increased to Rs. 155 Crores from Rs. 88 Crores in the same period last year. The Operations revenue grew by ~76% on an annual basis.
  1. The EBITDAGroup losses decreased by 92% at a loss of Rs. 3 Crores from a loss of Rs. 38 Crores per annum during the 1st half the year.
  1. The Losses after tax of the group reduced by 81% toa loss of Rs. 14 Crores from a loss of Rs. 73 crores per annum during the 1st half the year.

Other Highlights

  1. Highest H1 sales in company history.
  2. Lowest debtor days in H1 over the past 5 years.
  3. Lowest first half net working capital days in last 5 years.
  4. On the investment front, the company achieved a profitable exit from the sale of the stake in Testbook for approx. 180m during the quarter. This translates to a 7.8x return on the initial investment
  5. S Chand Academy crosses 50,000 subscribers and 6 million views

Mr. Saurabh Mittal, Chief Financial Officer, S Chand and Company Limited commented on the successful result, said, “We are pleased to report the excellent growth figures and reduced losses in the first half of FY23. S. Chand Group provides content, solutions and services in the education sector. We have recently seen the launch of the National Curriculum Framework or NCF covering classes from pre-primary to grade 2 in October 2022. With this announcement we look forward to more such announcements for other classes to come over the course of the next two quarters. We have already started creating new content based on the new curriculum for these courses and we will see the sale of these occur during our next sales season from January to March.

He added: “We are pleased with the improvement in working capital metrics over the past year, which has helped reduce debt significantly, and we expect to be net debt free by the end of the year. year. The reopening of schools and colleges has boosted demand in the first semester, which will accelerate in the second semester as students resume physical interaction with their teachers and mentors after a two-year period. The implementation of NEP 2020 and NCF will further drive this demand over the next two to three years.

About S Chand and Company Limited:

S Chand is India’s leading educational content company that aims to bring people and knowledge together. The company provides content nationwide with established brands such as S Chand, Madhubun, Vikas, Chhaya, Saraswati and Mylestone under its umbrella and has a distribution reach of over 3500 channel partners across India. Present in over 40,000 schools, colleges, universities and institutes across India, it has cemented the country’s fragmented educational content market.

It provides content, solutions and services across the educational lifecycle through its presence in three business segments: early learning, K-12 and higher education, and has also expanded its product portfolio through digital learning acquisitions. The group is one of the market leaders in the K-12 segment and has a strong presence in CBSE/ICSE and WBSE affiliated schools, with a growing presence in other state board affiliated schools across India. .

Sallie R. Loera