NSE: SCHAND · BSE: 540497
S CHAND AND COMPANY LTD
Publishes educational content for Indian K-12 schools, higher education, and international curricula, with printed textbooks as the core revenue source. The K-12 segment sells syllabus-based books for CBSE and other Indian school boards, with the new NCF syllabus rollout underway — K-8 books already released and Classes 9-12 syllabus expected in coming months, with full K-12 adoption targeted for FY27-28. Higher education faces industry-wide structural headwinds from piracy and reduced student purchases. AI dataset content licensing — selling educational content to AI training clients — grew over 60% year-on-year in FY26 to around Rs 32-35 crore, with management guiding to over Rs 400 million in FY27 and a medium-term target of Rs 100 crore; 5 clients recorded 100% renewal rates and in-house content delivers approximately 90% margins. In January 2026 the company acquired CPD Singapore to enter the IGCSE/IB international curriculum market, currently generating Rs 5-6 crore of revenue with a multi-year target of US$8-10 million. The cost base is led by materials at 31.4% of revenue (mostly paper), with employees at 24.2% and other opex at 25.5%; management flags 10-15% paper cost inflation in FY27 but only 6-8% pricing pass-through. The group operates three material subsidiaries — Chhaya Prakashani, Vikas Publishing House, and New Saraswati House — and ended FY26 net debt-free with Rs 1,048 million of net cash. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. K-12 school publishing, Higher education publishing, AI/digital content licensing, International curriculum (IGCSE/IB). Educational publishing group with K-12 core, fast-growing digital/AI content licensing, paper-cost exposed and net debt-free
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 481 | 610 | 663 | 720 | 799 |
| EBITDA (ex other income) | 60 | 112 | 110 | 135 | 142 |
| margin % | 12.5 | 18.3 | 16.6 | 18.8 | 17.7 |
| Owners' profit | 11 | 66 | 57 | 64 | 76 |
| EPS, as reported (₹) | 2.29 | 16.42 | 14.53 | 18.04 | 21.54 |
| ROE % · ROCE % | 0.9 · 3.5 | 6.4 · 10.3 | 5.4 · 7.4 | 6.1 · 10.1 | 7.0 · 10.1 |
| Debt / equity (x) | 0.19 | 0.14 | 0.11 | 0.07 | 0.08 |
| Cash from operations | 107 | 81 | 121 | 100 | 75 |
| Capex | (16) | (16) | (18) | (25) | (36) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 37 | 100 | 471 | 103 | 49 | 99 | 548 | 115 |
| Profit before tax | (68) | (31) | 193 | (18) | (71) | (40) | 229 | (19) |
| Net profit | (53) | (26) | 142 | (14) | (54) | (29) | 169 | (19) |
| EPS (₹) | (14.67) | (6.99) | 40.26 | (3.77) | (14.96) | (7.90) | 48.17 | (5.07) |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| MPS LIMITED | 4,406 | 23.2 | 7.39 | 16.9 | 29.0 | 33.1 | 12.7 | 35.6 |
| S CHAND AND COMPANY LTD ◆ | 499 | 7.0 | 0.47 | 3.1 | 7.0 | 8.9 | 13.4 | (5.0) |
| REPRO INDIA LIMITED | 426 | 4.5 | 1.22 | 26.6 | (9.5) | (4.8) | 29.0 | 123.4 |
| Dachepalli Publishers Limited | 145 | 7.8 | — | — | — | 18.2 | — | — |
| INLAND PRINTERS LTD. | 32 | — | 22.70 | — | (25.8) | (25.8) | — | — |
| INFOMEDIA PRESS LIMITED | 28 | — | — | — | 4.9 | (22.9) | — | — |
| Unick Fix-A- Form and Printers | 21 | 16.2 | 0.59 | — | 2.4 | 2.7 | — | 16.0 |
| SHAKTI PRESS LTD. | 3 | 1.9 | 0.12 | — | 6.3 | 7.3 | — | 2.3 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 7.0 | 7.4 | 3 of 6 | 60% |
| P/B | 0.5 | 0.9 | 2 of 6 | 80% |
| ROCE | 8.9 | 7.3 | 3 of 7 | 67% |
| ROE | 7.0 | 4.4 | 2 of 6 | 80% |
| Debt / Equity | 0.1 | 0.5 | 2 of 6 | 80% |
| EBITDA margin | (5.0) | 16.0 | 5 of 5 | 0% |
| Revenue growth | 11.6 | 20.1 | 4 of 5 | 25% |
| Profit growth | (33.2) | 9.8 | 7 of 7 | 0% |
| Market cap | 499 | 89 | 2 of 8 | 86% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 26 Sept 2026 · Trading window closed until Q2 and H1 FY26-27 results are declared | compliance | minimal | — | — |
| 24 Sept 2026 · AGM voting results: all 5 resolutions passed, Rs 4 final dividend approved | board shareholder meetings | medium | — | — |
| 23 Sept 2026 · S Chand 55th AGM: Rs.4 dividend approved, clean audit noted | board shareholder meetings | medium | — | — |
| 27 Aug 2026 · Newspaper ad for FY26 Annual Report and 55th AGM notice dispatch | compliance | minimal | — | — |
| 26 Aug 2026 · Annual Report FY25-26 and 55th AGM Notice | board shareholder meetings | medium | — | — |
| 26 Aug 2026 · S Chand 55th AGM on Sep 23, 2026; Rs 4 dividend, auditor re-appointment | board shareholder meetings | low | — | — |
| 22 Aug 2026 · 55th AGM and Record Date intimation via newspaper publication | compliance | minimal | — | — |
| 13 Aug 2026 · S Chand Q1 FY27 earnings call transcript filed | investor communications | medium | — | — |
| 11 Aug 2026 · Audio recording of Q1FY27 investor call now available | investor communications | medium | — | — |
| 11 Aug 2026 · S Chand posts Q1FY27 standalone loss of Rs 90 mn; consolidated loss widens | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.