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Prabhudas Lilladher Report
S Chand and Company Ltd.'s Q1 performance was impacted by delay in the start of academic session amid emergence of second wave.
As most states are eyeing a staggered re-opening around August/September, some revenue spill-over is expected in subsequent quarters.
If the upcoming sales season is not impacted by third wave, S Chand's revenue can be in the region of Rs 5 billion in FY22 aided by price hike of ~5-10%.
After having managed a successful turnaround in FY21 (break-even achieved after reporting losses in FY19 and FY20), new curriculum framework implementation remains a key factor to monitor (announcement expected in FY23) as it would set the growth trajectory for next two to three years.
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