ICICI Direct's research report on Navneet Education
Navneet Education (NEL) is an educational syllabus based content provider in print and digital medium and a manufacturer of scholastic paper stationery for domestic and international markets. Over the years, the company has built a strong brand in educational content & scholastic stationery • In state boards of Maharashtra and Gujarat, the company has a market share of 65%. It has also entered into CBSE syllabus books in other states.
NEL has a dominant share in state board in Maharashtra and Gujarat. Its efforts to be a pan-India player with enhanced scale in CBSE board and digital initiatives would take time to meaningfully contribute to profits • We change our recommendation on the stock from BUY to HOLD. We value NEL at Rs 95 i.e. 9x FY24E EPS.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.