NIIT Learning Systems Ltd
NIIT Learning Systems Limited offers Managed Training Services to companies across 30 countries. The NLSL has comprehensive suite of Managed Training Services includes Custom Content and Curriculum Design, Learning Delivery, Learning Administration, Strategic Sourcing, Learning Technology, and L&D consulting services. The company also offers specialized solutions including immersive learning, customer education, talent pipeline as a service, DE&I training, digital and IT training
as well as leadership and professional
development services.[1]
- Market Cap ₹ 5,761 Cr.
- Current Price ₹ 419
- High / Low ₹ 500 / 300
- Stock P/E 45.5
- Book Value ₹ 55.2
- Dividend Yield 0.71 %
- ROCE 23.6 %
- ROE 20.0 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 53.3% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 33.8%
Cons
- Stock is trading at 7.59 times its book value
- Promoter holding is low: 34.2%
- Earnings include an other income of Rs.123 Cr.
- Working capital days have increased from 60.4 days to 85.0 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Consumer Discretionary Consumer Services Other Consumer Services Education
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| 141 | 106 | 35 | 25 | 13 | 329 | 404 | 400 | 483 | 525 | |
| 142 | 98 | 39 | 36 | 24 | 290 | 348 | 349 | 407 | 454 | |
| Operating Profit | -1 | 8 | -4 | -11 | -11 | 38 | 56 | 51 | 76 | 71 |
| OPM % | -1% | 8% | -11% | -46% | -83% | 12% | 14% | 13% | 16% | 14% |
| 4 | 1 | 4 | -7 | -3 | 39 | 52 | 95 | 112 | 123 | |
| Interest | 1 | 3 | 3 | 3 | 2 | 0 | 0 | 3 | 4 | 3 |
| Depreciation | 50 | 8 | 3 | 4 | 1 | 11 | 9 | 19 | 30 | 38 |
| Profit before tax | -48 | -2 | -6 | -25 | -16 | 66 | 98 | 124 | 155 | 154 |
| Tax % | -6% | 0% | 0% | 8% | 0% | 12% | -1% | 18% | 17% | |
| -45 | -2 | -6 | -27 | -16 | 58 | 99 | 102 | 129 | 126 | |
| EPS in Rs | 7.54 | 9.46 | 9.26 | |||||||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 70% | 32% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 82% |
| 3 Years: | 14% |
| TTM: | 22% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 17% |
| 5 Years: | 53% |
| 3 Years: | 28% |
| TTM: | -18% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -9% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 21% |
| Last Year: | 20% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 1 | 19 | 69 | 69 | 116 | 116 | 27 | 27 | 27 | 27 |
| Reserves | -40 | -59 | -71 | -97 | -113 | 261 | 465 | 555 | 674 | 729 |
| 95 | 121 | 25 | 30 | 0 | 1 | 0 | 29 | 26 | 23 | |
| 61 | 46 | 27 | 28 | 15 | 105 | 110 | 110 | 125 | 126 | |
| Total Liabilities | 118 | 126 | 50 | 30 | 18 | 482 | 602 | 722 | 852 | 906 |
| 21 | 14 | 6 | 2 | 0 | 14 | 35 | 80 | 109 | 116 | |
| CWIP | 0 | 0 | 2 | 1 | 0 | 2 | 12 | 24 | 10 | 0 |
| Investments | 0 | 0 | 1 | 0 | 5 | 193 | 377 | 420 | 472 | 499 |
| 97 | 113 | 40 | 27 | 13 | 272 | 179 | 198 | 261 | 291 | |
| Total Assets | 118 | 126 | 50 | 30 | 18 | 482 | 602 | 722 | 852 | 906 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| -1 | -2 | -10 | 51 | 64 | 85 | 84 | |||
| -2 | 0 | -5 | -52 | -63 | -44 | -57 | |||
| -3 | 2 | 14 | -1 | -0 | -32 | -37 | |||
| Net Cash Flow | -6 | -0 | -0 | -2 | 0 | 9 | -9 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 97 | 255 | 268 | 217 | 166 | 79 | 95 | 78 | 83 |
| Inventory Days | 28 | 54 | 210 | 255 | 376 | ||||
| Days Payable | 784 | 853 | 991 | 1,211 | 2,374 | ||||
| Cash Conversion Cycle | -659 | -544 | -513 | -739 | -1,832 | 79 | 95 | 78 | 83 |
| Working Capital Days | 15 | 168 | 56 | -184 | -180 | 79 | 41 | 55 | 85 |
| ROCE % | 1% | -109% | -406% | 36% | 24% | 23% | 24% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
2d - For allotment of equity shares under NIIT Learning Systems Limited Employee Stock Option Plan 2023-0.
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
10 Dec - NIIT MTS won 64 Brandon Hall awards (52 Gold, 7 Silver, 5 Bronze), announced Dec 10, 2025.
-
Announcement under Regulation 30 (LODR)-Restructuring
9 Dec - MST Holding filed to strike off/dissolve inoperative MST UK Limited; no financial or shareholding impact recorded, December 9, 2025.
- Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 27 Nov
-
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
12 Nov - Transcript for Investors/ Analyst call organized for unaudited financial results for the quarter ended September 30, 2025
Annual reports
Concalls
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Nov 2025Transcript PPT REC
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Nov 2025TranscriptAI SummaryPPT
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Aug 2025Transcript PPT
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May 2025Transcript PPT
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Jan 2025Transcript PPT
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Oct 2024Transcript PPT
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Aug 2024Transcript PPT
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May 2024Transcript PPT
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Feb 2024Transcript PPT
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Nov 2023Transcript PPT
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Aug 2023Transcript PPT
Business[1]
NIIT Learning Systems offers Managed Training Services to Fortune 1000 and Global 500 corporations across North America and Europe. It is armed with necessary capital to take advantage of opportunities opening up, particularly in the Learning Outsourcing market.