New Delhi, August 12th, 2023. S Chand and Company, India’s leading education content provider reported its results for the first quarter of the financial year ending 31st March 2024.


Some of the highlights of the Q1FY24 results are as follows-:

1. The company achieved its highest-ever Q1 operating revenues of Rs 1,111 million.

2. Q1FY24 marked a historic achievement with the company recording a Q1 Gross Margin of Rs 765 million, the highest ever at 69%.

3. The company achieved its highest-ever Q1 EBITDA of Rs 136 million.

4. A significant milestone was reached as S Chand became net debt-free by the end of Q1, boasting a net cash balance of Rs 546 million.

5. The company sustained its profitability in Q1, achieving PAT profitability for the second consecutive year.

6. Q1FY24 demonstrated exceptional financial efficiency with a record low of 103 Days Q1 Receivables, the shortest in the company’s history.

7. The company achieved an unprecedented low of 143 Days Q1 NWC days, underscoring effective working capital management.

8. The company made a strategic investment of Rs 30 million in ixamBee, acquiring a minority stake in April ’23.


We turned Net Debt free in April with a quarter ending Net Cash balance of Rs546m (vs. Net Debt of Rs279m in Q1FY23) and Gross Debt: Rs906m (vs. Rs1,145m in Q1FY23).


Working Capital Metrics in Q1FY24 are the best for Q1 in the company’s history. The charts below showcase the strength of the Company’s Working Capital Management during the year.

Mr. Himanshu Gupta, Managing Director of S Chand and Company Limited, commented on the successful results and said,

“In Q1FY24, S Chand and Company continued with the strong growth momentum shown in the last quarter. We have crossed a very significant milestone during the quarter of becoming net Debt Free. We have continued our growth trajectory in the current quarter, achieving working capital efficiency and boosting our margins on a YoY basis.

We are proud to say that we have achieved our goal of becoming a net debt-free company in April, 2023 through consistent efforts on working capital management. We look forward to fuel the next leg of growth for our company on back of the National Curriculum Framework announcement in CY2023 by providing high-quality content and expertise to all students in line with our vision.”

Mr. Saurabh Mittal, Group CFO of S Chand and Company Limited, commented on the annual results and said,

“Our consolidated revenues reached Rs1,111 million, EBITDA of Rs136 million and PAT of Rs11 million during the quarter. We achieved the highest Q1 revenues, highest Q1 Gross Margins and highest Q1 EBITDA in the company’s history. The biggest achievement for the Group during the quarter was becoming Net Debt free in April, 2023.

The key highlights of the Q1FY24 company’s results were, 1) Continued strong sales momentum, 2) Improving Gross Margins, 3) Best ever working capital metrics for Q1 and, 4) The company had positive cash reserves of Rs546 million at the end of the quarter.

We remain focused on building sustainable long-term value for all our stakeholders, and we believe that our unwavering commitment towards operational excellence and delivering value to our customers will continue to drive our success in the coming years.”