BQ Prime's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Prabhudas Lilladher Report
While Navneet Education Ltd.'s top-line of Rs 6,828 million (our estimate of Rs 6,872 million) was ~14% lower than pre-pandemic base, profit after tax was almost similar due to improvement in publishing margins.
Though syllabus change schedule for FY23E is not exciting; calibrated price hikes and lower usage of second hand books given last academic cycle was impacted by Covid is likely to aid growth in publishing segment.
However, Navneet's management commentary on stationary exports for FY23E was a bit cautious (~15-17% growth guidance) given inflationary environment prevailing in the U.S.
Nonetheless, beyond FY23E, target is to aim for a growth of ~20-25%.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.