S Chand Group turns Net Debt Free with the Best Working Capital Metrics for Q1 in the company’s history
New Delhi: S Chand and Company, India’s leading education content provider reported its results for the first quarter of the financial year ending 31st March 2024.
HIGHLIGHTS OF Q1FY24 RESULTS
Some of the highlights of the Q1FY24 results are as follows-:
COMPANY TURNS NET DEBT FREE
We turned Net Debt free in April with a quarter ending Net Cash balance of Rs546m (vs. Net Debt of Rs279m in Q1FY23) and Gross Debt: Rs906m (vs. Rs1,145m in Q1FY23).
BEST Q1 WORKING CAPITAL METRICS IN THE COMPANY’S HISTORY
Working Capital Metrics in Q1FY24 are the best for Q1 in the company’s history. The charts below showcase the strength of the Company’s Working Capital Management during the year.
Mr. Himanshu Gupta, Managing Director of S Chand and Company Limited, commented on the successful results and said,
“In Q1FY24, S Chand and Company continued with the strong growth momentum shown in the last quarter. We have crossed a very significant milestone during the quarter of becoming net Debt Free. We have continued our growth trajectory in the current quarter, achieving working capital efficiency and boosting our margins on a YoY basis.
We are proud to say that we have achieved our goal of becoming a net debt-free company in April, 2023 through consistent efforts on working capital management. 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 Rs1,111 million, EBITDA of Rs136 million and PAT of Rs11 million during the quarter. We achieved the highest Q1 revenues, highest Q1 Gross Margins and highest Q1 EBITDA in the company’s history. The biggest achievement for the Group during the quarter was becoming Net Debt free in April, 2023.
The key highlights of the Q1FY24 company’s results were, 1) Continued strong sales momentum, 2) Improving Gross Margins, 3) Best ever working capital metrics for Q1 and, 4) The company had positive cash reserves of Rs546 million at the end of the quarter.
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.”
About S Chand And Company
- Chand and Company is one of the leading education content companies delivering content across the length and breadth of the country. The company provides content, solutions, and services across the education lifecycle through its presence in three business segments – Early Learning, K- 12 and Higher Education. The company has a strong foothold in the CBSE/ICSE affiliated schools, WBSE affiliated schools with increasing presence in the state board affiliated schools across India. The company develops and nurtures its relationships with customers by developing quality content and educational innovations, and in recent years have increased focus on investing and improving the digital product offerings in each of the business segments.
The company has more than 11,000 book titles across competitive exams & reference books, technical & professional books, schoolbooks and higher academic books. We have presence and extensive distribution system across India through over 3000+ channel partners. The company also exports print content to over 20 countries and digital content to 5 countries in SAARC, South Asia, the Middle East, Africa, and other parts of the world. Some of the well-known brands include S Chand, Vikas, Madhubun, New Saraswati House and Chhaya Prakashani and digital brands S Chand Academy, Learnflix, Mylestone, SmartK, Testcoach, Destination Success, myStudygear, Madhubun Educate 360 and Ignitor.