Zee Learn Ltd

₹ 6.05 -3.20%
28 Jun - close price
About

Zee Learn Ltd is a diversified premium education group which delivers learning solutions and training through its multiple products/ brands. It is also in the business of providing and servicing school infra structure on long-term lease agreements.[1]

It is a part of Essel Group which is a diverse conglomerate with presence in broadcasting, DTH, print, education, industrial and infrastructure industries.[2]

Key Points

Presence across Student Lifecycle
The company has presence across the entire student life-cycle with business covering pre-schools, K-12 schools, universities, and training and manpower. It also runs tutorial and test-prep coaching academies and vocational academies.
The company runs businesses under various established brands such as Kidzee, ankurum, Mount Litera Zee School, Mahesh Tutorials, Lakshya Institute, and others.[1]

  • Market Cap 196 Cr.
  • Current Price 6.05
  • High / Low 20.7 / 5.70
  • Stock P/E
  • Book Value 14.2
  • Dividend Yield 0.00 %
  • ROCE 4.99 %
  • ROE -0.59 %
  • Face Value 1.00

Pros

  • Stock is trading at 0.43 times its book value

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 6.55% over past five years.
  • Promoter holding is low: 18.62%
  • Company has a low return on equity of 2.42% for last 3 years.
  • Contingent liabilities of Rs.545.37 Cr.
  • Promoters have pledged 42.74% of their holding.
  • Earnings include an other income of Rs.34.38 Cr.
  • Company has high debtors of 151.67 days.
  • Promoter holding has decreased over last 3 years: -38.56%

* 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022
154.76 136.60 117.84 105.63 82.67 76.27 51.19 46.99 64.68 53.68 51.94 77.58
100.00 84.79 73.62 88.04 60.99 56.35 43.79 52.90 46.71 39.57 43.22 70.99
Operating Profit 54.76 51.81 44.22 17.59 21.68 19.92 7.40 -5.91 17.97 14.11 8.72 6.59
OPM % 35.38% 37.93% 37.53% 16.65% 26.22% 26.12% 14.46% -12.58% 27.78% 26.29% 16.79% 8.49%
11.52 11.81 8.48 -21.40 9.97 13.40 17.93 15.03 9.52 6.14 4.66 14.06
Interest 14.80 15.96 15.30 12.99 12.42 12.69 12.28 14.10 11.26 11.07 10.01 11.91
Depreciation 14.95 14.83 15.05 19.28 13.79 13.20 12.68 10.28 10.42 9.82 9.99 6.47
Profit before tax 36.53 32.83 22.35 -36.08 5.44 7.43 0.37 -15.26 5.81 -0.64 -6.62 2.27
Tax % 27.16% 25.71% 27.02% -17.05% 38.42% 69.85% 43.24% -76.67% 76.25% 0.00% -33.53% 323.35%
Net Profit 24.73 22.21 14.79 -18.04 4.13 2.22 -0.20 -14.94 1.67 0.47 -4.91 0.05
EPS in Rs 0.76 0.68 0.45 -0.55 0.13 0.07 -0.01 -0.46 0.05 0.01 -0.15 0.00

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
61 101 121 128 152 180 269 517 515 257 248
83 109 109 97 108 121 166 359 346 214 200
Operating Profit -22 -8 12 31 43 59 103 158 169 43 47
OPM % -36% -8% 10% 24% 29% 33% 38% 31% 33% 17% 19%
1 1 3 4 2 4 3 32 10 56 34
Interest 3 6 10 15 20 21 19 47 59 51 44
Depreciation 3 7 7 9 10 10 11 28 64 50 37
Profit before tax -27 -20 -2 10 15 32 76 115 56 -2 1
Tax % -1% -7% 0% 0% 0% -3% 35% 27% 55% -947% 1,665%
Net Profit -28 -21 -2 10 15 34 49 76 44 -9 -3
EPS in Rs -1.05 -0.81 -0.06 0.31 0.47 1.04 1.51 2.33 1.34 -0.27 -0.08
Dividend Payout % 0% 0% 0% 0% 0% 10% 7% 4% 0% 0% 0%
Compounded Sales Growth
10 Years: 15%
5 Years: 7%
3 Years: -22%
TTM: -4%
Compounded Profit Growth
10 Years: 7%
5 Years: %
3 Years: %
TTM: 9%
Stock Price CAGR
10 Years: -13%
5 Years: -32%
3 Years: -36%
1 Year: -64%
Return on Equity
10 Years: 6%
5 Years: 8%
3 Years: 2%
Last Year: -1%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
26 26 32 32 32 32 33 33 33 33 33
Reserves 114 93 191 202 218 260 321 399 438 432 430
158 347 312 372 387 253 257 432 458 444 437
55 62 74 77 68 201 326 616 594 563 548
Total Liabilities 353 529 610 683 705 746 937 1,479 1,523 1,471 1,448
142 29 39 94 114 521 536 1,001 1,070 1,025 1,039
CWIP 69 302 432 444 478 93 84 56 59 53 1
Investments 0 0 5 4 10 6 14 2 11 0 0
142 198 133 140 104 126 303 419 382 394 408
Total Assets 353 529 610 683 705 746 937 1,479 1,523 1,471 1,448

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
-33 -5 55 33 47 189 249 21 122 12 62
-35 -166 -114 -83 -40 -9 -227 -49 15 14 -6
78 172 64 43 -5 -173 -15 27 -150 -29 -37
Net Cash Flow 10 1 4 -7 2 6 7 -1 -13 -2 20

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 26 38 39 46 72 101 20 37 47 130 152
Inventory Days 188 112 202 320 111 155 85 121 232 261 86
Days Payable 382 103 92 155 93 141 73 440 757 2,259 1,287
Cash Conversion Cycle -168 47 149 211 89 115 33 -282 -478 -1,868 -1,049
Working Capital Days -361 -492 -171 -198 -31 -46 -63 -49 -105 -53 -101
ROCE % -4% 2% 4% 6% 9% 16% 22% 16% 5% 5%

Shareholding Pattern

Numbers in percentages

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022
57.18 57.17 57.17 57.17 51.78 37.18 28.61 26.17 21.69 18.62 18.62 18.62
24.29 24.19 23.99 23.56 21.61 21.60 21.60 21.60 19.94 18.88 18.74 15.15
0.04 0.06 0.04 0.01 0.03 0.01 0.01 0.40 0.00 0.00 0.01 0.01
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01
18.49 18.58 18.80 19.25 26.57 41.21 49.79 51.84 58.37 62.49 62.63 66.21

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