Navneet Education Ltd

About

Navneet Education is a leading manufacturer of Maharashtra and Gujarat State Board Publication books and also Stationery Products. The Publishing segment consists of supplementary books such as workbooks, guides, and question banks which are based on the latest prescribed syllabus by state education boards under the brand name of Vikas and Gala. The stationery business consists of paper based and non-paper based stationery under the brand names Navneet and Youva.(Source : 202003-01 Annual Report Page No:131)

  • Market Cap 2,349 Cr.
  • Current Price 103
  • High / Low 110 / 72.3
  • Stock P/E 42.3
  • Book Value 45.6
  • Dividend Yield 0.97 %
  • ROCE 8.10 %
  • ROE 6.08 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 27.11%

Cons

  • The company has delivered a poor sales growth of -3.09% over past five years.
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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
263 182 246 795 247 193 207 325 160 127 191 318
217 166 217 564 215 171 174 247 151 133 161 257
Operating Profit 46 16 28 231 32 22 33 78 9 -5 30 62
OPM % 18% 9% 11% 29% 13% 12% 16% 24% 6% -4% 16% 19%
Other Income 7 3 2 10 7 6 3 2 4 5 3 7
Interest 2 1 4 7 2 0 4 4 2 1 1 1
Depreciation 6 6 7 8 9 9 9 8 9 9 9 8
Profit before tax 45 11 20 226 28 19 22 68 3 -10 23 59
Tax % 36% 34% 25% 35% -53% 29% 28% 26% 30% 26% 29% 25%
Net Profit 29 8 15 147 42 13 16 51 2 -8 16 45
EPS in Rs 1.24 0.33 0.64 6.44 1.86 0.58 0.71 2.21 0.10 -0.33 0.71 1.95

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
511 533 606 799 870 954 937 1,085 1,131 1,357 1,426 801 796
400 408 468 605 666 719 729 833 895 1,068 1,106 688 701
Operating Profit 111 125 139 193 204 235 208 252 236 289 320 113 95
OPM % 22% 24% 23% 24% 23% 25% 22% 23% 21% 21% 22% 14% 12%
Other Income 7 8 6 3 4 3 19 24 29 19 25 15 19
Interest 3 4 7 11 12 11 4 5 7 13 15 8 4
Depreciation 12 11 15 20 22 28 27 25 23 24 35 35 34
Profit before tax 103 118 122 166 174 199 196 246 234 271 295 84 76
Tax % 34% 34% 34% 33% 35% 35% 36% 34% 35% 34% 26% 27%
Net Profit 68 78 80 111 113 129 126 162 153 177 219 62 56
EPS in Rs 2.85 3.26 3.37 4.66 4.75 5.43 5.30 6.92 6.56 7.75 9.58 2.69 2.43
Dividend Payout % 35% 43% 42% 39% 42% 41% 42% 36% 23% 13% 31% 37%
Compounded Sales Growth
10 Years:4%
5 Years:-3%
3 Years:-11%
TTM:-18%
Compounded Profit Growth
10 Years:-2%
5 Years:-13%
3 Years:-26%
TTM:-55%
Stock Price CAGR
10 Years:5%
5 Years:1%
3 Years:-4%
1 Year:34%
Return on Equity
10 Years:20%
5 Years:18%
3 Years:17%
Last Year:6%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
48 48 48 48 48 48 48 47 47 46 46 46
Reserves 253 292 333 395 452 516 576 679 762 826 920 993
Borrowings 59 56 145 169 230 143 100 146 212 295 226 29
31 54 70 118 129 133 79 121 115 129 115 143
Total Liabilities 391 449 596 730 859 840 802 992 1,135 1,296 1,307 1,211
86 114 160 170 185 169 160 168 175 173 216 195
CWIP 5 10 3 6 5 4 1 3 3 14 5 22
Investments 8 8 4 6 6 69 91 158 182 196 264 292
292 317 429 549 664 597 551 663 776 913 822 702
Total Assets 391 449 596 730 859 840 802 992 1,135 1,296 1,307 1,211

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
77 55 43 13 46 217 191 103 59 90 296 274
-8 -32 -95 -8 -46 -65 -16 -87 -47 -33 -74 -55
-64 -23 46 -6 3 -153 -173 -26 -77 1 -205 -204
Net Cash Flow 5 -0 -7 -1 3 -1 2 -10 -66 59 17 15

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 54 55 67 73 78 69 70 69 81 59 53 65
Inventory Days 240 248 265 260 280 275 244 257 268 286 235 381
Days Payable 20 10 18 24 18 14 23 32 33 32 19 66
Cash Conversion Cycle 274 293 314 309 340 329 290 295 316 313 268 380
Working Capital Days 180 157 180 164 187 168 178 176 206 184 170 227
ROCE % 31% 32% 29% 31% 28% 29% 28% 31% 25% 26% 26% 8%

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
61.78 61.89 61.89 61.79 61.85 62.14 62.38 62.38 62.33 62.33 62.33 62.33
4.78 4.46 4.38 4.25 4.33 4.22 3.87 3.77 3.97 4.02 4.16 4.30
16.69 16.98 17.32 17.65 17.58 16.97 16.67 16.50 16.46 16.02 15.76 14.67
16.74 16.67 16.41 16.31 16.25 16.67 17.08 17.35 17.25 17.63 17.75 18.70

Documents