The independent financial analyst theScreener just lowered the general evaluation of NAVNEET EDUCATION )LTD. (IN), active in the Publishing industry. As regards its fundamental valuation, the title now shows 1 out of 4 stars while market behaviour can be considered moderately risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date April 7, 2020, the closing price was INR 63....
NAVNEET EDUCATION: In-line performance led by stationary/publication sales (NELI IN, Mkt Cap USD0.3b, CMP INR106, TP INR135, 28% Upside, Buy) Healthy overall performance; PAT grows 17%: 1QFY20 revenue grew 19% YoY to INR7,950m (v/s est. INR7,705m), primarily driven by 18%/19% YoY growth in stationery/publication revenues. EBITDA rose 17% YoY to INR2,314m (v/s est. INR2,250m), with margin contraction of 30bp YoY to 29% (in-line). Adj. PAT grew 17% YoY to INR1,474m (v/s est. INR1,454m). P...
A director at Navneet Education Limited bought 16,834,264 shares at 0.000INR and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last t...
Navneet Education: Indiannica scale-up slower than expected; trim PAT est. (NELI IN, Mkt Cap USD0.4b, CMP INR108, TP INR135, 25% Upside, Buy) 4QFY19 revenues (standalone) of INR2,455m (our est. INR2,303m) grew 15.5% YoY, while EBITDA margins expanded 30bp YoY to 11.5% (our est. 13%). EBITDA grew 18% YoY to INR282m (our est. INR299m); PAT stood at INR147m (our est. INR185m), a YoY decline of 2.8%. Full-year performance (consol. basis): In FY19, revenues/EBITDA/PAT grew 20%/22%/20% to INR...
Navneet Education: K-12 turns profitable; Stationary disappoints (NELI IN, Mkt Cap USD0.3b, CMP INR105, TP INR159, 51% Upside, Buy) Revenue up 4% YoY; higher other expenses hurt EBITDA: Revenue increased ~4% YoY to INR1,816m (our estimate: INR1,898m), driven by 22% growth in Publication segment. EBITDA declined 23% YoY to INR157m (our estimate: INR218m), with the margin contracting ~310bp YoY to 8.6% (our estimate: 11.5%) on account of higher other expenses. Adj. PAT declined 37% YoY to I...
Navneet Education: Revenue growth shows buoyancy, Margins miss estimates (neli IN, Mkt Cap USD0.3b, CMP INR112, TP INR156, 40% Upside, Buy) Revenues grow 44%; EBIDTA expands 220bp: NELI reported YoY growth of ~44% in revenues to INR2,635m (est. INR2,890m) in 2QFY19, driven by growth in publication and stationery segments. EBITDA margins expanded ~220bp YoY to 17.6% (est. 25%). EBITDA grew 65% YoY to INR463m (est. INR722m). Adjusted PAT stood at INR289m (est. INR452m) in 2QFY19, posting a ...
Navneet Education: In-line performance; improved visibility; Upgrade to Buy (NELI IN, Mkt Cap USD0.4b, CMP INR120, TP INR160, 33% Upside, Upgrade to Buy) Revenue up 19%, EBIDTA expands 75bp: Standalone revenue grew 19% YoY to INR6,700m (est. of INR6,453m) in 1QFY19, primarily driven by 58% YoY growth in Stationery revenue. EBITDA rose 22% YoY to INR1,974m (est. of INR1,916m), with the margin expanding 75bp YoY to 29.5% (est. of 30%). Adj. PAT grew 15% YoY to INR1,263m (est. of INR1,245m)....
​NAVNEET EDUCATION: Growth on track across segments; maintain Buy(NELI IN, Mkt Cap USD0.5b, CMP INR157, TP INR215, 37% Upside, Buy) Publication: Continuous growth, aided by syllabus change The publication business grew 10% YoY in 1QFY18 despite deferment of publication of 9th grade text books in Maharashtra by the education board. Growth going forward is expected to be stronger, with likely spillover of revenue of its supplementary books in 2QFY18. The business is expected to continue benefiti...
​Navneet Education: Results exceed estimates; Exports to drive growth(NELI IN, Mkt Cap USD0.6b, CMP INR176, TP INR226, 29% Upside, Buy)EBITDA, PAT beat estimates: NELI’s overall revenue rose 12% to INR2,098m (est. of INR2,026m) in 4QFY17 from INR1,875m in the year-ago period, as Stationery business grew ~21%. EBITDA grew 12% YoY from INR249m to INR279m (est. INR243m), with the margin remaining flat at 13.3% (est. of 12%). Consequently, adj. PAT grew 80% YoY from INR94m to INR169m (est. of IN...
Navneet Education (initiating coverage): Steadfast; growth gaining momentum; CBSE curriculum opportunity sizable; future-ready with digital offerings(NELI IN, Mkt Cap USD0.5b, CMP INR153, TP INR210, 37% Upside, Buy)Navneet Education Limited (NELI), founded by the Gala family, is in the business of (a) publishing – educational, supplementary, children’s and general books, (b) stationery products, and (c) digital education. It derives 54% of its revenue from publishing and 43% from stationery....
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