Navneet Education earnings calls.

Navneet Education reported a challenging Q3 FY26 with consolidated revenue declining 11.3% YoY to approximately ₹250 croreCurrent reported value: ₹250 crore. No comparable prior figure is available in the source record., driven by minimal curriculum changes in Maharashtra and Gujarat and a significant drop in US exports. While domestic stationary demonstrated strength with ~21%Current 21%. Reported change: +21pp YoY. growth, the overall performance was weak as core operating profit turned negative due to seasonal factors. The highlight was a one-time exceptional gain from fair valuation of the K12 Technoservices stake, resulting in reported PAT of ₹188 croreCurrent reported value: ₹188 crore. No comparable prior figure is available in the source record.. Management highlighted near-term headwinds from US tariffs (impacting EBITDA margins by ~1000bps in exports) and confirmed a ₹30 croreCurrent ₹30 crore. Reported change: New capex. UAE manufacturing facility investment operational by Q2 FY27. The Navneet AI platform, India's first custom education AI model built on 1.1 lakh+ digital resources, is in early pilot phase with no independent revenue visibility. For FY27, management guided to ~15% revenue growth in publications (driven by curriculum changes in Maharashtra grades 2,3,4,6 and Gujarat grades 2,3) and 15-20% growth in domestic stationery. The tariff issue remains unresolved, creating margin pressure as export realization dropped from ₹100 to ₹90 per unit.