S Chand and Company reported a strong FY 2025-26 with operating revenue hitting Rs 7,987 million, up 11% YoY. Profit after tax surged 21% to Rs 731 million, supported by digital growth and a strategic international acquisition in Singapore. The company remains net debt-free with a cash position of Rs 1,048 million, providing a stable foundation for its 10-15% growth target in the coming year.
S Chand FY26 Profit Jumps 21% as Digital Revenue Climbs
Operating revenue reached Rs 7,987 million, while PAT rose to Rs 731 million.
Reader Takeaway: Strong digital content growth and debt-free status drive performance, though academic seasonality remains a key monitorable.
What just happened
S Chand and Company Limited concluded FY 2025-26 with record performance metrics. The company reported an 11% increase in operating revenue to Rs 7,987 million and a 21% growth in Profit After Tax (PAT) to Rs 731 million. EBITDA also improved by 7% to Rs 1,449 million. The company declared an interim dividend of Rs 4 per share, which is proposed as the final dividend for the year.
Why this matters
Investors view S Chand as a key play in the Indian education sector, and its ability to scale while remaining net debt-free is a significant positive. The completion of the CPD Singapore acquisition marks the company’s formal entry into the international curriculum market (IGCSE/IB), potentially reducing dependency on domestic policy shifts. Furthermore, the 60% growth in content licensing revenue signals successful monetization of its digital assets.
The backstory
Historically, the company has heavily relied on traditional textbook distribution. However, over the past two years, it has aggressively pivoted toward digital platforms like Mylestone and ZEN. The strategic decision to maintain a strong cash position has allowed the firm to fund these digital initiatives and M&A activity without leveraging its balance sheet.
What changes now
For FY 2026-27, management has set an ambitious revenue growth target of 10%-15% and an EBITDA margin band of 17%-19%. The company intends to focus on AI-enabled content monetization and further expansion of its digital footprint. Walker Chandiok & Co LLP has been recommended for a new five-year term as statutory auditor, ensuring continuity in governance.
Risks to watch
The business model remains vulnerable to the Indian academic calendar, creating significant revenue concentration in the first quarter of the financial year. Additionally, collection cycles slowed in specific regions during Q4, which may require tighter working capital management in the coming quarters. Policy changes under the National Education Policy (NEP) continue to be an external factor influencing product demand.
Context metrics (time-bound)
- Net cash position: Rs 1,048 million as of March 31, 2026.
- Content licensing revenue: Rs 318 million.
- Digital platform reach: Over 1,150 schools combined for Mylestone and ZEN.