AI data content licensing revenue (9M FY26)
₹17.1 crore
+42% YoY
9M FY26 vs ₹19.5 crore in 9M FY25; full-year target ₹30 crore+.
SCHANDAND
Diversified
12 Feb 2026
S Chand and Company Ltd — Q3 FY26
S Chand reported Q3 FY26 consolidated revenue of ₹99 crore and a PAT loss of ₹28.87 crore, with revenue impacted by syllabus revision shifting sales to Q4.
Financial stats pending filing verification
2-Minute Summary
✦ AI-Generated from Full Transcript
S Chand reported Q3 FY26 consolidated revenue of ₹99 crore and a PAT loss of ₹28.87 crore, with revenue impacted by syllabus revision shifting sales to Q4. Management reiterated full-year guidance of ₹800 crore+ revenue and 18-20% EBITDA margin, expressing high confidence despite the need for a strong Q4. Key drivers include the NCERT syllabus change rollout (classes 4,5,7,8 now available), AI data content licensing revenues targeting ₹30 crore+ for FY26 (vs ₹19.5 crore in FY25), and the acquisition of CPD Singapore to enter the international curriculum market. Working capital improved to lowest Q3 inventory days (316) and net working capital (143 days). Risks include delayed physical availability of NCERT books and potential competition from NCERT's in-house printing push.
Key Numbers
Inventory days (Q3)
316 days
-50 days YoY
Lowest Q3 inventory days in company history, down from 366 days in Q3 FY25.
Net working capital days (Q3)
143 days
-9 days YoY
Improved from 152 days in Q3 FY25, reflecting better working capital management.
Employee count
1,900+
flat
Includes ~700 sales, ~200 editorial, ~600 printing/warehousing; CPD Singapore adds 8.
Management Guidance
FY26 revenue target of ₹800 crore+
Management reiterated full-year operating revenue guidance of ₹800 crore+, with confidence in achieving it despite Q3 shortfall.
Management guidance revenueFY26 EBITDA margin target of 18-20%
Management targets EBITDA margin band of 18-20% for FY26, driven by product mix, content licensing, and new curriculum books.
Management guidance marginsAI data content licensing revenue of ₹30 crore+ in FY26
Management confident of achieving over ₹30 crore in AI data content licensing revenue for FY26, up from ₹19.5 crore in FY25.
Management guidance revenue50% YoY growth in AI data content licensing in FY26
Management expects solid 50% year-on-year growth in AI data content licensing revenues during FY26.
Management guidance growthKey Risks
NCERT in-house printing and circular
NCERT's push for in-house printing and direction to schools to use NCERT books could impact private publishers' sales, though management believes private schools will continue to prefer comprehensive private books.
medium · analyst_questionDelayed syllabus change adoption
The NCERT syllabus change has been spread over 5-6 years instead of the expected 2-3 years, diluting the growth kicker from new curriculum adoption.
medium · management_commentaryQ4 revenue concentration risk
Achieving full-year guidance requires a very strong Q4 (₹550 crore+ revenue), which is historically the highest quarter; any shortfall could miss targets.
high · data_observationConfidentiality of AI licensing counterparties
Management declined to disclose counterparties for AI data licensing, citing confidentiality, which limits visibility into revenue sustainability.
low · analyst_questionNotable Quotes
We are absolutely confident of achieving revenues of more than 300 million during FI26 versus 195 million FI25 in the segment.
We'll look at what we end up with by the end of this year. We look at the cash flows probably around May when we have our final results. That is the time we can take a call based upon the liquidity and the discussions that will happen internally at the board level.
The syllabus change as we expected got delayed somehow by the government and we expected the syllabus change to happen in over a 2-3 years period but that is taking four-five years.
Frequently Asked Questions
What was S Chand and's revenue in Q3 FY26?
S Chand and reported revenue of ₹99 Cr in Q3 FY26, representing a — change compared to the same quarter last year.
What guidance did S Chand and management give for FY27?
FY26 revenue target of ₹800 crore+: Management reiterated full-year operating revenue guidance of ₹800 crore+, with confidence in achieving it despite Q3 shortfall. FY26 EBITDA margin target of 18-20%: Management targets EBITDA margin band of 18-20% for FY26, driven by product mix, content licensing, and new curriculum books. AI data content licensing revenue of ₹30 crore+ in FY26: Management confident of achieving over ₹30 crore in AI data content licensing revenue for FY26, up from ₹19.5 crore in FY25. 50% YoY growth in AI data content licensing in FY26: Management expects solid 50% year-on-year growth in AI data content licensing revenues during FY26.
What are the key risks for S Chand and in FY27?
Key risks include NCERT in-house printing and circular — NCERT's push for in-house printing and direction to schools to use NCERT books could impact private publishers' sales, though management believes private schools will continue to prefer comprehensive private books.; Delayed syllabus change adoption — The NCERT syllabus change has been spread over 5-6 years instead of the expected 2-3 years, diluting the growth kicker from new curriculum adoption.; Q4 revenue concentration risk — Achieving full-year guidance requires a very strong Q4 (₹550 crore+ revenue), which is historically the highest quarter; any shortfall could miss targets.; Confidentiality of AI licensing counterparties — Management declined to disclose counterparties for AI data licensing, citing confidentiality, which limits visibility into revenue sustainability..
Did S Chand and meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full S Chand and Q3 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary with filing verification status shown on the financial stats.