Navneet Education approves composite scheme with Indiannica Learning

Navneet Education Limited shareholders have approved the Composite Scheme of Arrangement involving Indiannica Learning Private Limited and the company. The resolution was passed with an overwhelming majority, receiving 99.99% of the votes cast in favour. This approval paves the way for the implementation of the scheme between Navneet Education Limited and Indiannica Learning Private Limited, subject to the final sanction of the National Company Law Tribunal (NCLT).

The voting took place during a meeting held on June 15, 2026, through video conferencing and other audio-visual means, pursuant to an NCLT order dated April 24, 2026. The meeting was chaired by Mr. Venkata Subba Rao, Former Member (J) of the NCLT. A total of 168,012,106 votes were polled, representing 75.95% of the total outstanding shares.

Voting Results

The detailed voting results disclosed to the stock exchanges show that the resolution secured the requisite majority. Promoters and the promoter group cast 138,558,614 votes, all in favour. Public institutions cast 27,824,015 votes, also entirely in favour. Public non-institutions cast 1,629,477 votes, with 1,626,293 in favour and 3,184 against.

Category	No. of Votes Polled	Votes In Favour	Votes Against	% In Favour
Promoter and Promoter Group	138,558,614	138,558,614	0	100
Public Institutions	27,824,015	27,824,015	0	100
Public Non-Institutions	1,629,477	1,626,293	3,184	99.80
Total	168,012,106	168,008,922	3,184	99.99

Scrutinizer's Report

The Consolidated Scrutinizer's Report, submitted by Vyom Shah, Advocate, confirmed the process. Remote e-voting commenced on June 11, 2026, and concluded on June 14, 2026. The e-voting system was provided by National Securities Depository Limited (NSDL). The scrutinizer certified that the resolution was passed as a special resolution under the Companies Act, 2013, with the necessary majority.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.31%	-0.27%	-1.30%	-2.57%	-0.61%	+49.96%

Navneet Education Limited reported its standalone and consolidated financial results for the quarter and year ended March 31, 2026. For the full fiscal year FY26, the company reported a Profit After Tax (PAT) of Rs 296 crore, a significant decline from Rs 801 crore in the previous year, primarily due to exceptional items. The Board of Directors, at its meeting held on May 21, 2026, approved the audited financial results and declared a second interim dividend of Rs 1.50 per equity share for the financial year 2025-26.

The statutory auditor expressed an unqualified audit opinion on the standalone and consolidated financial results for the year ended March 31, 2026. In compliance with Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company disclosed that the unaudited standalone and consolidated financial results for the quarter ended March 31, 2026, and the audited results for the year ended March 31, 2026, were published in the Economic Times and Maharashtra Times in Mumbai, and the Economic Times in Ahmedabad and Times of India in Surat edition on May 23, 2026.

Standalone Financial Performance

For the quarter ended March 31, 2026, the company reported revenue from operations of Rs 394 crore, a marginal increase from Rs 389 crore in the corresponding period of the previous year. Profit After Tax (PAT) for the quarter stood at Rs 25 crore, a decline from Rs 29 crore in Q4 FY25. EBITDA decreased to Rs 40 crore, with margins contracting to 10.2% from 14.4% in the prior year.

For the full fiscal year FY26, revenue from operations stood at Rs 1,683 crore, down from Rs 1,733 crore in FY25. The company noted that FY25 results included exceptional gains of Rs 604 crore, whereas FY26 included net exceptional items of Rs 127 crore.

Segment Performance

The company’s performance varied across its business segments. In Q4 FY26, the Publication business grew by 7%, while the Domestic Stationery business saw a 17% increase. Conversely, the Exports Stationery business revenue declined by 15% due to tariff challenges in the USA. For the full year FY26, Publication revenue grew by 0.6% to Rs 719 crore, and Domestic Stationery revenue increased by 4% to Rs 366 crore. Exports Stationery revenue fell by 10% to Rs 596 crore.

Operational Outlook

Management highlighted that Maharashtra and Gujarat will undergo a sizable curriculum change from FY27 to FY29, which is expected to drive healthy double-digit growth in the Publication business. Regarding the Exports Stationery business, the company anticipates a gradual recovery from FY27 onwards as clarity on tariffs improves. The investment in a manufacturing facility in UAE has been put on hold due to geopolitical tensions, though investments continue in a Gujarat facility to cater to new product categories.