Mumbai, February 5, 2025 – Navneet Education Limited (NSE: NAVNETEDUL, BSE: 508989) announced its standalone and consolidated unaudited financial results for the quarter and nine months ended December 31, 2024, reflecting robust revenue growth and operational efficiency.
Publishing Content: Revenue of INR 11,499 lakhs, up from INR 8,443 lakhs in Q3 FY24.
Stationery Products: Revenue of INR 16,672 lakhs, up from INR 17,330 lakhs.
Other Strategic Investments (Windmill & EdTech): INR 129 lakhs.
Corporate Announcements & Strategic Developments
Divestment in Associate K12 Techno Services Pvt. Ltd.
The company divested a part of its stake in K12 Techno Services for INR 22,518 lakhs, resulting in an exceptional gain of INR 18,908 lakhs.
Remaining investment in K12 is now recognized as a financial asset.
Fair value gain of INR 47,144 lakhs was accounted for in profit and loss.
Buyback of Shares
Successfully completed a buyback of 50 lakh shares at INR 200 per share, aggregating INR 10,000 lakhs.
Paid-up equity capital reduced to INR 4,424 lakhs.
Buyback tax of INR 2,283 lakhs was accounted for.
Investment Updates
Navneet Futuretech Ltd. (NFL) made strategic investments, including INR 7,500 lakhs in SFAS Sporting Services Pvt. Ltd.
Investment in Elation EdTech Pvt. Ltd. recorded a fair value loss of INR 419 lakhs.
Dividend Declaration
Interim dividend of INR 1.50 per share (75%) for FY 2024-25 was declared and paid.
Management Commentary
Mr. Ganesh D. Gala, Managing Director of Navneet Education Ltd., stated: "The company has delivered a strong quarter, driven by our publishing and stationery businesses. The successful divestment in K12 Techno Services and the share buyback highlight our commitment to optimizing shareholder value. We continue to focus on innovation and digital expansion in education solutions."
Strategic Outlook
Strong demand for education content and stationery products is expected to drive further revenue growth.
Digital transformation initiatives remain a key focus area, aligning with the shift toward EdTech and digital learning solutions.
The company aims to expand international markets, especially in the stationery segment.
Conclusion
Navneet Education Limited continues to exhibit strong growth, strategic investments, and operational efficiency, positioning itself as a market leader in education solutions. With strong revenue growth, profitability, and strategic initiatives, the company remains on track for a promising fiscal year 2024-25.
