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S. Chand aims to clock net revenue of Rs 235 crore in FY23, plans to tie up with ed-tech firms

The firm claims to have clocked a net (standalone) revenue of Rs 169 crore, on the back of a net profit of Rs 8.8 crore.

The company posted a net profit of Rs 2.2 crore in FY21 from net loss of Rs 39.7 crore in FY20.
The company posted a net profit of Rs 2.2 crore in FY21 from net loss of Rs 39.7 crore in FY20.

Education content provider S Chand aims to clock net (standalone) revenue of Rs 235 crore, with net profit of Rs 20 crore in FY23, Saurabh Mittal, chief financial officer, S Chand and Company Limited told FE Education. According  to him, the company aims to collaborate with ed-tech companies in FY23 to provide educational content. “With ed-tech companies and educational institutions making a move towards offline centers, the demand for books is expected to increase. Hence we look forward to increase our growth,” Mittal said. 

Regulatory files accessed by business intelligence platform Tofler revealed that S Chand and Company’s standalone revenue from operation declined 5.2% to Rs 143 crore in FY21 from Rs 151 crore in FY20. The company posted a net profit of Rs 2.2 crore in FY21 from net loss of Rs 39.7 crore in FY20. The firm (FE Education Online has access to the official document and seen it) to have clocked a net (standalone) revenue of Rs 169 crore, on the back of net profit of Rs 8.8 crore in FY22. “During the pandemic, the company could not perform well in terms of revenue and profit, we look forward to the next few years for revenue growth,” Mittal added. The firm aims to achieve a project growth of 25% with a 30% growth in the higher education sector.

The company claims to monetise through channel partners such as schools besides distributors. The average ticket price for such tie-ups is about Rs two lakh. In FY23, the company aims to collaborate with over 45,000 schools across the country. Furthermore, the firm plans to collaborate with the state government and launch books based on the National Curriculum Framework (NCF) aligned with National Education Policy 2020 (NEP) in FY23. 

According to Mittal, in April 2022, S Chand collaborated with Unacademy. “They have given QR codes through which students can access our e-books through Unacademy platforms,” Mittal added. He further explained that the company plans to expand its team and promote its Youtube channel as a part of our marketing strategy.

Also Read: IIT Guwahati partners with AICTE to provide solutions to North-East India

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