Please find the attachment herewith

Navneet Education reported stable Q4 FY26 revenue of Rs.394 Cr but a decline in full-year revenue to Rs.1,683 Cr from Rs.1,733 Cr in FY25. EBITDA margin contracted significantly - from 14.4% to 10.2% in Q4 and from 18.5% to 16.6% for FY26. Publication business grew modestly at 0.6% while Domestic Stationery grew 4%, but Exports Stationery declined 10% due to US tariff challenges. Management acknowledged margin pressure from tariffs, GST exemption impact on paper stationery products, and planned investments in branding and manpower to boost penetration. The company expects Exports Stationery to recover from FY27 with better tariff clarity, and curriculum changes in Maharashtra and Gujarat from FY27-FY29 should drive publication growth. UAE manufacturing facility is on hold due to geopolitical tensions; Gujarat facility is being set up instead.