Under Rs 200: This Printing and Stationery Company to Consider Share Buyback on August 1; Keep This Stock on Your Radar!
The company’s Net profit surged by 108 per cent in Q4 FY24.
Navneet Education Limited, a leading provider of educational materials, including textbooks, reference books, technical and professional publications, and stationery products, is set to convene a board meeting on Thursday, August 1, 2024.
The primary agenda for the meeting will be to review and consider a proposal for the buyback of fully paid-up equity shares, in accordance with the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018. The board will also address related and incidental matters associated with this proposal.
The company holds a dominant market share of approximately 65 per cent in Western India. It serves a diverse range of educational needs across five mediums and languages for State Board publications, including CBSE and ICSE curricula.
Today Navneet Education Limited shares closed at around Rs 163.80 per share. The company’s current market capitalization stands at Rs 3705.37 crore.
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As per the Quarterly Results, in Q4 FY24, Navneet Education Limited recorded a revenue of Rs 435 crore. The operating profit for Q4 FY24 stood at Rs 80 crore. The net profit for Q4 FY24 was Rs 48 crore. Looking at the annual performance, the company generated a revenue of Rs 1751 crore in FY24. The operating profit for FY24 was Rs 294 crore with a net profit of Rs 252 crore.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.