Zee Learn Ltd

About

Zee Learn Limited is a holding company. The Company operates as an education company, which offers education support services.

  • Market Cap 505 Cr.
  • Current Price 15.5
  • High / Low 20.2 / 9.75
  • Stock P/E
  • Book Value 14.2
  • Dividend Yield 0.00 %
  • ROCE 5.65 %
  • ROE -1.88 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Stock is trading at 1.09 times its book value

Cons

  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -4.47%
  • The company has delivered a poor sales growth of 11.15% over past five years.
  • Promoter holding is low: 21.69%
  • Company has a low return on equity of 8.49% for last 3 years.
  • Contingent liabilities of Rs.521.75 Cr.
  • Promoters have pledged 50.83% of their holding.
  • Earnings include an other income of Rs.55.88 Cr.
  • Debtor days have increased from 71.35 to 129.69 days.
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
126.05 112.71 165.35 154.76 136.60 117.84 105.63 82.67 76.27 51.19 46.99 64.68
92.75 82.74 113.41 100.00 84.79 73.62 88.04 60.99 56.35 43.79 52.90 46.71
Operating Profit 33.30 29.97 51.94 54.76 51.81 44.22 17.59 21.68 19.92 7.40 -5.91 17.97
OPM % 26.42% 26.59% 31.41% 35.38% 37.93% 37.53% 16.65% 26.22% 26.12% 14.46% -12.58% 27.78%
Other Income 6.88 8.42 10.69 11.52 11.81 8.48 -21.40 9.97 13.40 17.93 15.03 9.52
Interest 11.88 12.27 13.45 14.80 15.96 15.30 12.99 12.42 12.69 12.28 14.10 11.26
Depreciation 7.95 7.87 7.46 14.95 14.83 15.05 19.28 13.79 13.20 12.68 10.28 10.42
Profit before tax 20.35 18.25 41.72 36.53 32.83 22.35 -36.08 5.44 7.43 0.37 -15.26 5.81
Tax % 30.76% 23.67% 25.02% 27.16% 25.71% 27.02% -17.05% 38.42% 69.85% 43.24% -76.67% 76.25%
Net Profit 13.15 12.62 28.69 24.73 22.21 14.79 -18.04 4.13 2.22 -0.20 -14.94 1.67
EPS in Rs 0.40 0.39 0.88 0.76 0.68 0.45 -0.55 0.13 0.07 -0.01 -0.46 0.05

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 TTM
61 101 121 128 152 180 269 517 515 257 239
83 109 109 97 108 121 166 359 346 214 200
Operating Profit -22 -8 12 31 43 59 103 158 169 43 39
OPM % -36% -8% 10% 24% 29% 33% 38% 31% 33% 17% 16%
Other Income 1 1 3 4 2 4 3 32 10 56 56
Interest 3 6 10 15 20 21 19 47 59 51 50
Depreciation 3 7 7 9 10 10 11 28 64 50 47
Profit before tax -27 -20 -2 10 15 32 76 115 56 -2 -2
Tax % -1% -7% 0% 0% 0% -3% 35% 27% 55% -947%
Net Profit -28 -21 -2 10 15 34 49 76 44 -9 -11
EPS in Rs -1.05 -0.81 -0.06 0.31 0.47 1.04 1.51 2.33 1.34 -0.27 -0.35
Dividend Payout % 0% 0% 0% 0% 0% 10% 7% 4% 0% 0%
Compounded Sales Growth
10 Years:%
5 Years:11%
3 Years:-1%
TTM:-46%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:-133%
Stock Price CAGR
10 Years:-2%
5 Years:-16%
3 Years:-25%
1 Year:30%
Return on Equity
10 Years:%
5 Years:10%
3 Years:8%
Last Year:-2%

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
26 26 32 32 32 32 33 33 33 33
Reserves 114 93 191 202 218 260 321 399 438 432
Borrowings 158 347 312 372 387 253 257 432 458 358
55 62 74 77 68 201 326 616 594 650
Total Liabilities 353 529 610 683 705 746 937 1,479 1,523 1,472
142 29 39 94 114 521 536 1,001 1,070 1,077
CWIP 69 302 432 444 478 93 84 56 59 0
Investments 0 0 5 4 10 6 14 2 11 0
142 198 133 140 104 126 303 419 382 395
Total Assets 353 529 610 683 705 746 937 1,479 1,523 1,472

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
-33 -5 55 33 47 189 249 21 122 12
-35 -166 -114 -83 -40 -9 -227 -49 15 24
78 172 64 43 -5 -173 -15 27 -150 -38
Net Cash Flow 10 1 4 -7 2 6 7 -1 -13 -2

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
Debtor Days 26 38 39 46 72 101 20 37 47 130
Inventory Days 188 112 202 320 111 155 85 121 232 261
Days Payable 382 103 92 155 93 141 73 440 681 2,259
Cash Conversion Cycle -168 47 149 211 89 115 33 -282 -402 -1,868
Working Capital Days -207 -103 -82 -78 5 -18 -42 -12 -68 -267
ROCE % -4% 2% 4% 6% 9% 16% 22% 16% 6%

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
57.52 57.51 57.18 57.18 57.17 57.17 57.17 51.78 37.18 28.61 26.17 21.69
24.07 24.37 24.34 24.29 24.19 23.99 23.56 21.61 21.60 21.60 21.60 19.94
0.04 0.03 0.15 0.04 0.06 0.04 0.01 0.03 0.01 0.01 0.40 0.00
18.37 18.09 18.34 18.49 18.58 18.80 19.25 26.57 41.21 49.79 51.84 58.37

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