S Chand & Company Limited , a prominent player in the Indian education content market, has received a significant boost to its creditworthiness. ICRA Limited, a leading credit rating agency, has upgraded the company's credit rating, signaling improved financial stability and performance.

Credit Rating Upgrade Details

ICRA has elevated S Chand & Company Limited's credit rating from ICRA A- (Stable) to ICRA A (Stable). This upgrade applies to the company's enhanced long-term fund-based facilities, which include:

The upgraded facilities are provided by various banks and financial institutions, reflecting a diversified lending base for the company.

Implications of the Upgrade

This rating upgrade carries several positive implications for S Chand & Company Limited:

1. Improved Creditworthiness: The new ICRA A (Stable) rating indicates a strong degree of safety regarding timely servicing of financial obligations.
2. Enhanced Financial Flexibility: With a higher credit rating, the company may potentially access capital at more favorable terms.
3. Investor Confidence: The upgrade could boost investor confidence in the company's financial management and future prospects.

Company's Disclosure

In compliance with regulatory requirements, S Chand & Company Limited promptly disclosed this development to the stock exchanges. As per the company's filing:

• The rating letter was received from ICRA on November 20, 2025, at 01:07 P.M.
• The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

This timely disclosure underscores the company's commitment to transparency and adherence to regulatory norms.

The credit rating upgrade comes as a positive development for S Chand & Company Limited, potentially strengthening its position in the competitive education content market.

S Chand & Company , a leading educational content provider, has reported a strong 32% year-on-year revenue growth to Rs 493.00 million in the second quarter of fiscal year 2026. The company's performance highlights its resilience in a traditionally slow quarter for the education sector.

Financial Highlights

Despite the revenue growth, S Chand reported an EBITDA loss of Rs 60.00 million and a PAT loss of Rs 53.00 million for Q2 FY26. However, the company maintained its net debt-free status, ending the quarter with a healthy cash balance of Rs 235.00 million.

Strategic Expansion into International Curriculum

S Chand is finalizing a US$1.50 million acquisition in the international curriculum space. The company expects to complete this acquisition in the third quarter of FY26.

Mr. Himanshu Gupta, Managing Director of S Chand, commented on the strategic importance of this acquisition: "This opens a new vertical for us, which we are currently not addressing. There are over a thousand international curriculum schools in India, growing very fast, and we currently have no products for that segment."

The acquisition aims to tap into the growing market of International Baccalaureate (IB) and IGCSE schools in India and neighboring countries. This move could potentially expand S Chand's reach in the Middle East and South Asian markets, where there is a significant presence of international curriculum schools.

New Education Policy and Curriculum Changes

S Chand is poised to benefit from the ongoing implementation of the New Education Policy and changes in the NCERT curriculum. The company expects full adoption of new NCERT syllabus books across K-12 classes by FY27.

Mr. Gupta explained, "The NCERT curriculum is being launched in a staggered manner. After the release of these books, we might see better benefits in the coming years."

Digital Initiatives and Content Licensing

The company continues to make strides in its digital initiatives. While the digital segment contributes a smaller portion to overall revenue, it offers higher margins and positive cash flow. S Chand is also expanding its content licensing business for AI datasets, with plans to increase its client base from two to four this year.

Looking Ahead

S Chand maintains a cautious but optimistic outlook. The company is focusing on sustainable growth and cash generation, aiming to continue its track record of generating approximately Rs 1,000.00 million in operating cash flow annually.

As the education sector evolves with new policies and digital transformation, S Chand appears well-positioned to capitalize on these changes while maintaining financial prudence.