Q1 2025 Navneet Education Ltd Earnings Call Transcript
Key Points
- Navneet Education Ltd (BOM:508989) announced a share buyback of INR100 crores, repurchasing up to 50 lakh shares at INR200 per share, representing 2.2% of the total paid-up equity capital.
- Revenue for the quarter stood at INR794 crores, showing a marginal improvement of 1% over the corresponding quarter last year.
- Absolute EBITDA for the quarter improved to INR226 crores compared to INR216 crores in the same period last year.
- The company is proactively developing strategies aimed at innovation and enhancement of product offerings, including new education content formats and digital learning tools.
- Exports of the stationary business showed significant growth, with Q1 '25 revenue at INR241 crores compared to INR214 crores in the corresponding period last year.
- Publication business revenue encountered a slight contraction, standing at INR417 crores compared to INR431 crores, a dip of approximately 3% due to curriculum reductions by state boards.
- Domestic stationary revenue for the quarter stood at INR135 crores, showing a marginal degrowth compared to the last corresponding period.
- Margins in the domestic stationary business were slightly impacted due to high-cost inventory, particularly raw material at the beginning of the quarter.
- Indiannica, a subsidiary acquired for growth in CBSE and ICSE markets, has not performed as expected and continues to incur losses.
- The company faces challenges in the publication business due to the prevalence of secondhand books and the lack of curriculum changes, which impacts new book sales.
Ladies and gentlemen, good day, and welcome to Navneet Education Limited Q1 FY25 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Sunil Gala, Managing Director of Navneet Education Limited. Thank you, and over to you, sir.
Thank you very much. Good afternoon and a very, very warm welcome to everyone present on the call. Today, along with me, I have Mr. Kalpesh Dedhia, our CFO; Mr. Roomy Mistry, our Head IR; and SGA, our investment relation advisers. Hope you all have received our results and investor presentation by now. For those who have not, you can view it on our stock exchanges and the company website.
So let me first begin the call by sharing the recent highlights of August '24. The Board of Directors have approved a share buyback of INR100 crores. This buyback will involve repurchasing up to 50 lakh shares at a price of INR200 per share, representing approximately 2.2% of
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