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 2,282 Cr.
  • Current Price 100
  • High / Low 122 / 72.3
  • Stock P/E 68.6
  • Book Value 40.4
  • Dividend Yield 1.00 %
  • ROCE 5.29 %
  • ROE 6.24 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 30.23%

Cons

  • The company has delivered a poor sales growth of -2.74% over past five years.
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
185.59 303.39 811.53 253.29 196.65 250.58 331.99 163.73 123.20 215.65 327.85 231.17
192.33 258.22 581.92 230.77 188.43 198.28 263.29 164.53 143.90 178.48 273.48 213.81
Operating Profit -6.74 45.17 229.61 22.52 8.22 52.30 68.70 -0.80 -20.70 37.17 54.37 17.36
OPM % -3.63% 14.89% 28.29% 8.89% 4.18% 20.87% 20.69% -0.49% -16.80% 17.24% 16.58% 7.51%
Other Income 3.81 3.34 14.27 5.53 5.56 2.55 2.83 46.57 9.41 2.82 6.71 8.03
Interest 1.99 5.43 8.01 2.91 1.43 4.78 4.54 2.31 1.79 1.49 1.81 1.57
Depreciation 8.31 8.71 10.60 11.35 11.78 13.15 11.05 11.62 12.56 11.89 12.28 10.65
Profit before tax -13.23 34.37 225.27 13.79 0.57 36.92 55.94 31.84 -25.64 26.61 46.99 13.17
Tax % -33.41% 12.16% 35.14% -99.13% 929.82% 10.32% 29.60% 35.96% 11.39% 29.12% 31.65% 61.81%
Net Profit -17.65 30.19 146.10 22.77 -4.73 33.11 39.38 20.39 -22.72 18.86 32.12 5.03
EPS in Rs -0.77 1.32 6.38 0.99 -0.21 1.45 1.72 0.89 -0.99 0.82 1.40 0.22

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
521 545 616 815 892 974 956 1,168 1,203 1,442 1,496 832 898
413 428 483 620 682 735 749 892 979 1,170 1,180 744 810
Operating Profit 107 117 133 194 210 239 207 275 223 272 315 88 88
OPM % 21% 21% 22% 24% 24% 25% 22% 24% 19% 19% 21% 11% 10%
Other Income 8 8 11 2 4 3 17 22 26 23 22 59 27
Interest 4 5 7 11 12 11 5 6 9 17 19 11 7
Depreciation 13 14 17 23 26 31 30 28 31 33 47 47 47
Profit before tax 98 107 120 162 176 200 190 264 210 245 272 89 61
Tax % 35% 38% 35% 34% 34% 35% 37% 31% 39% 38% 27% 37%
Net Profit 64 67 78 107 115 130 107 171 127 153 197 56 33
EPS in Rs 2.68 2.80 3.27 4.48 4.83 5.47 4.51 7.30 5.45 6.68 8.62 2.44 1.45
Dividend Payout % 37% 50% 43% 36% 41% 40% 49% 34% 28% 15% 35% 41%
Compounded Sales Growth
10 Years: 4%
5 Years: -3%
3 Years: -12%
TTM: -5%
Compounded Profit Growth
10 Years: -2%
5 Years: -12%
3 Years: -24%
TTM: -42%
Stock Price CAGR
10 Years: 6%
5 Years: -2%
3 Years: -2%
1 Year: 24%
Return on Equity
10 Years: 20%
5 Years: 18%
3 Years: 16%
Last Year: 6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Sep 2021
48 48 48 48 48 48 48 47 47 46 46 46 45
Reserves 246 275 314 371 431 496 535 647 705 745 817 885 875
Borrowings 71 66 145 169 234 144 103 159 244 337 278 74 69
34 55 73 122 132 136 83 167 158 190 149 176 186
Total Liabilities 399 444 579 709 844 823 769 1,020 1,154 1,318 1,290 1,181 1,175
89 119 161 174 187 170 181 252 255 252 298 261 252
CWIP 6 10 4 6 5 4 1 3 4 17 6 22 26
Investments 0 0 1 31 47 49 32 24 46 66 88 142 152
304 316 414 498 604 599 556 740 849 984 898 755 745
Total Assets 399 444 579 709 844 823 769 1,020 1,154 1,318 1,290 1,181 1,175

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
72 60 8 74 59 162 168 79 48 95 286 268
-8 -35 -46 -70 -62 -8 -4 -79 -54 -43 -61 -40
-61 -25 33 -6 6 -155 -170 -6 -79 -11 -201 -214
Net Cash Flow 3 0 -6 -2 3 -1 -6 -6 -85 41 23 14

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 58 58 69 74 80 71 71 87 97 74 65 81
Inventory Days 249 241 265 260 281 274 244 258 267 287 236 382
Days Payable 22 11 18 24 18 14 24 48 46 47 23 72
Cash Conversion Cycle 285 288 315 310 343 330 292 297 318 313 278 391
Working Capital Days 183 150 166 163 186 168 176 171 202 182 171 230
ROCE % 29% 29% 28% 32% 29% 30% 28% 35% 24% 25% 25% 5%

Shareholding Pattern

Numbers in percentages

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
61.89 61.89 61.79 61.85 62.14 62.38 62.38 62.33 62.33 62.33 62.33 62.84
4.46 4.38 4.25 4.33 4.22 3.87 3.77 3.97 4.02 4.16 4.30 3.78
16.98 17.32 17.65 17.58 16.97 16.67 16.50 16.46 16.02 15.76 14.67 14.88
16.67 16.41 16.31 16.25 16.67 17.08 17.35 17.25 17.63 17.75 18.70 18.50

Documents