S Chand Publishing Soars: Achieves Profitability, Becomes Debt-Free, and declare Rs3/share Dividend
New Delhi: 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 2023.
HIGHLIGHTS OF FY23 RESULTS
Some of the highlights of the FY23 results are as follows-:
BEST 4Q WORKING CAPITAL METRICS IN THE COMPANY’S HISTORY
Working Capital Metrics in FY23 are the best in the company’s history. The charts below showcase the strength of the Company’s Working Capital Management during the year.
COMPANY TURNS NET DEBT FREE IN APRIL, 2023
We ended the year with Net Debt of Rs60m (vs. Rs721m in Q4FY22) and Gross Debt of Rs1,268m (vs. Rs1,572m in Q4FY22). We turned Net Debt free in April, 2023.
LOOKING AHEAD
Mr. Himanshu Gupta, Managing Director of S Chand and Company Limited, commented on the successful results and said,
“In FY23, S Chand and Company demonstrated strong growth momentum and we have crossed some very significant milestones during the year. The results of our performance in FY2023 reflects the strength of our operations and the hard work of our team. Our company’s long-standing history and excellent reputation in the publishing industry, combined with the expertise of our experienced team has helped us maintain our market position and strengthen our relationships with schools, authors, and teaching community.
We are proud to say that we have achieved our goal of becoming net debt-free company in April, 2023 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. We look forward to fuel the next leg of growth for our company on back of the National Curriculum Framework announcement in CY2023 by providing high-quality content and expertise to all students in line with our vision.”
Mr. Saurabh Mittal, Group CFO of S Chand and Company Limited, commented on the annual results and said,
“Our consolidated revenues reached Rs6103 million, EBITDA of Rs963 million and PAT of Rs576 million. We showed healthy revenue growth and sustainable profit margins during FY23. We have reinstated our annual dividend after FY18 and we turned Net Debt free in April, 2023.
One of the strongest features of the company’s result is our liquidity position and steady 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.”