Q4 2024 Navneet Education Ltd Earnings Call Transcript
Key Points
- Navneet Education Ltd (BOM:508989) reported a stable performance despite a challenging environment in the education sector.
- The company's publishing business displayed resilience despite external obstacles, such as increased paper prices and a rise in secondhand book sales.
- The domestic stationery business grew by 7% in FY24, with positive market response to AI-created designs.
- The company is exploring phased introduction of various products in the non-paper stationery segment, indicating future growth potential.
- Navneet Education Ltd (BOM:508989) successfully divested a 5.12% stake in K12 Techno Services, aligning with its value creation strategy and unlocking shareholder value.
- The publishing segment is not expected to see major growth in FY24-25 due to the lack of curriculum changes in core markets like Maharashtra and Gujarat.
- The export stationery segment faced challenges due to the prolonged Red Sea crisis and restrictions in the U.S. market, resulting in an opportunity loss of around INR40 crores.
- Indiannica's performance was below expectations, with higher sales returns and a lack of technology solutions contributing to the poor results.
- The company experienced a 2% reduction in volume sales for the publication business in FY24 compared to FY23.
- The ed tech business incurred significant losses, with a full-year loss of around INR44 crores, including severance costs.
Ladies and gentlemen, good day, and welcome to the Navneet Education Limited Q4 FY24 earnings conference call hosted by Monarch Networth Capital. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Rahul Dani from Monarch Networth Capital. Thank you, and over to you, sir.
Yes, thank you, Muskaan. Good afternoon, everyone. On behalf of Monarch Networth Capital, it's our pleasure to host the senior management of Navneet Education. We have with us Mr. Sunil Gala, Managing Director of the company; and other senior management; and SGA, the Investor Relations partner.
We will start the call with opening remarks from Sunil sir, and then we will move to Q&A. Thank you, and over to you, sir.
Thank you, everyone, and good afternoon to all. And a very, very warm welcome to everyone present on the call. Today, along
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