Navneet Education Q3 Review - Next Academic Cycle To Witness Normalcy: Prabhudas Lilladher
A pupil studies the question paper. (Photographer: Chris Ratcliffe/Bloomberg News)

Navneet Education Q3 Review - Next Academic Cycle To Witness Normalcy: Prabhudas Lilladher

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Prabhudas Lilladher Report

We cut our FY21E sales of Navneet Education Ltd. by 38% and now expect adjusted loss of Rs 34 million (earlier profit after tax estimate of Rs 1.4 billion) as delay in start of the current academic year has resulted in substantial loss of business.

Against an earlier expectation of approximately 20-30% decline, the publication revenue is now expected to fall by ~58-59% in FY21E.

Similarly, even stationary export revenue is now expected to fall by ~20% versus earlier estimate of flattish growth in FY21E.

As a result, there is a substantial realignment in our FY21E estimates.

Click on the attachment to read the full report:

Prabhudas Lilladher Navneet Education Q3FY21 Result Update.pdf

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