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Navneet Education's Q2 FY26 revenue declined 9% to Rs. 246 crore, leading to an Rs. 8 crore loss before tax. For the half-year (H1 FY26), revenue stood at Rs. 1,038 crore, slightly down from Rs. 1,065 crore in H1 FY25. The publication segment was a bright spot, growing 12% to Rs. 91 crore in Q2, driven by minor curriculum changes. In contrast, the stationery business at Rs. 155 crore saw domestic sales flat due to lower paper prices impacting realization, while exports dropped 22% on US tariffs, significantly affecting overall profit.
The company is focused on innovation and adapting to market shifts. Key strategies include strengthening the publishing business with integrated technology and introducing new stationery categories to drive sustainable growth.
Management commentary highlights the expectation of further curriculum changes in higher grades, building momentum for publications. Paper prices have stabilized, which should reduce competitive pressures in domestic stationery. The company is also developing new products to mitigate future risks in export stationery and hopes for clarity on US tariffs.
Q2 FY26 standalone key metrics: Revenue Rs. 246 Cr, EBITDA Rs. 8 Cr, and EPS -0.3.