Niit Learning Systems Limited (NIITMTS)

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Niit Learning Systems Limited (NIITMTS) · mywealthgrid

About

NIIT Learning Systems operates in education and skill development within the Consumer Discretionary sector. The company operates at consolidated scale of approximately ₹500–565 Cr in quarterly revenue alongside standalone operations of ₹123–143 Cr, with a market cap of ₹3,320 Cr valued at PE 12.98.

Face value: ₹2

Market cap

₹2,633 Cr

P/E

10.3×

P/B

1.7×

Dividend yield

3.3%

ROE

18%

ROCE

19.4%

Debt / equity

0.17

OPM

18.8%

EPS (TTM)

₹18.6

Book value

₹112.2

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Quarterly earnings volatility: OPM ranges from 9.83% (Mar 2026) to 19.49% (Sep 2025); standalone net profit swings ₹12.79–28.33 Cr per quarter

Stock price weakness: down 25.36% over 12 months despite positive fundamentals, trading near 52-week low of ₹207.45, signaling investor concern

Structural complexity: consolidated revenue (~₹475–565 Cr) is 4x standalone (~₹123–143 Cr); verify how subsidiaries perform and whether consolidation creates management risk

Verify competitive intensity and regulatory environment in education sector and their impact on pricing, demand, and profitability

Generated analysis · source review pending

Growth drivers

Consolidated revenue growth of 19% over nine months (₹475.72 Cr in Sep 2025 to ₹565.08 Cr in Jun 2026) with three consecutive quarters of sequential growth

ROE of 18% indicates capital is deployed efficiently and available for reinvestment or shareholder returns

Consolidated operating margin of 18.81% (reaching 19.49% in Sep 2025) generates cash available for growth investments

Consistent cash generation evidenced by dividends paid in Sep 2024 and Sep 2023 provides capacity to fund growth initiatives

Generated analysis · source review pending

773 historical price candles were omitted because the exchange source has not been verified.

₹191.1-6.8%1Y

Quick read

rule-based

Pros

+Strong return on equity of 21.1% (3-yr avg)
+High return on capital employed of 24.7%
+Comfortable interest coverage of 14.3×
+Dividend yield of 3.3%
+Dividend payout of 33.7% of profit

Cons

No red flags triggered.

Research score

Structured signal from quality, growth, valuation and momentum.

74/100

Business quality: 66
Growth: 60
Valuation: 94

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,362	1,554	1,653	1,952
COGS	1	1	1	9
	1,068	1,191	1,297	1,576
	293	362	355	367
OPM %	21.6%	23.3%	21.5%	18.8%
Depreciation	47	59	62	76
Interest	14	33	21	23
	-4	27	34	63
Profit before tax	228	297	306	331
Tax	36	84	79	83
Tax %	15.9%	28.2%	25.7%	25.2%
	192	213	228	248
PAT margin %	14.1%	13.7%	13.8%	12.7%
EPS (₹)	14.3	15.8	16.8	18.1
EPS adjusted (₹)	14.3	15.8	16.7	18
	0%	33.2%	17.9%	18%
Annual report	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	116	27	27	27	28
Reserves	—	743	950	1,183	1,515
Minority interest	—	0	—	—	0
	—	116	93	71	267
	—	821	963	907	1,250
Total equity & liabilities	—	1,707	2,033	2,188	3,060
	92	597	613	629	1,083
CWIP	—	—	0	—	0
Investments	—	283	378	425	531
	—	827	1,042	1,134	1,446
Total assets	—	1,707	2,033	2,188	3,060

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	153	279	247	288
	-255	-182	-129	-414
	101	-69	-73	130
Net cash flow	-2	28	45	5
Free cash flow	112	231	199	244
CFO / Operating profit %	52.1%	76.9%	69.6%	78.6%

Compounded sales growth

7 years: —
5 years: —
3 years: 13%
1 year: 18%

Compounded profit growth

7 years: —
5 years: —
3 years: 9%
1 year: 9%

Return on equity

7 years: —
5 years: —
3 years: 19%
Last year: 16%

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—
EBITDA margin %	21.6%	23.3%	21.5%	18.8%
EBIT margin %	18.1%	19.5%	17.7%	14.9%
PAT margin %	14.1%	13.7%	13.8%	12.7%
Working capital
Receivable days	58	53	56	71
Inventory days	0	0	0	0
Payable days	34	28	28	30
NWC days	23	25	28	40
Leverage
Current ratio	1.69	1.66	1.88	1.73
Debt to EBITDA	0.39	0.26	0.2	0.73
Debt to equity	0.15	0.1	0.06	0.17
Interest coverage	18.2	10.2	16.2	14.3
Asset turnover	0.8	0.76	0.76	0.64
Return ratios
Return on assets %	11.3%	10.5%	10.4%	8.1%
Return on capital employed %	24.3%	29%	25.7%	19.4%
Return on equity %	25%	21.8%	18.8%	16.1%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	34.84%	34.73%	34.64%	34.57%	34.52%	34.48%	34.45%	34.36%	34.21%	34.19%	34.1%	34.25%
	18.9%	17.76%	18.22%	18.28%	17.66%	17.62%	17.56%	17.48%	17.43%	17.13%	16.75%	14.44%
	15.84%	16.37%	17.77%	17.3%	18.72%	21.53%	21.87%	22.15%	23.73%	24.27%	24.46%	25.38%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0.01%	0.01%	0.01%	0.01%
	30.42%	31.14%	29.37%	29.85%	29.1%	26.37%	26.12%	26.01%	24.62%	24.4%	24.68%	25.92%
No. of shareholders	—	—	—	—	—	—	—	—	71,581	69,625	68,595	70,268

Promoter holding down 0.59 percentage points since Sep 2023.

8 disclosures

Person	Deal	Shares	Value	Holding	Filed
Rohit Sethi	BuyESOP	10,000	₹17.71 L	0.00% → 0.01%	24 Oct 20257(2)
Thomas Craig Brewer	SellMarket Sale	13,332	₹43.39 L	0.01% → 0.00%	23 Sept 2025

Mr. Rajendra Singh PawarNon-Executive - Non Independent Director-Chairperson
Mr. Vijay Kumar ThadaniExecutive Director
Mr. Sapnesh Kumar LallaExecutive Director
Mr. Ravinder SinghNon-Executive - Independent Director
Ms. Sangita SinghNon-Executive - Independent Director
Ms. Leher Vijay ThadaniNon-Executive - Non Independent Director
Mr. Ravindra Babu GarikipatiNon-Executive - Independent Director
Mr. Parthasarathy Vankipuram SrinivasaNon-Executive - Independent Director
Deepak BansalCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 4 fund houses

Held by these funds

11.56%

of the company's equity

All mutual funds

19.08%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

4 schemes · 4 fund houses

		Shares
SMALL CAP FUND	Nippon India Mutual Fund	1.22 Cr	277.26	0.34%	8.859%	-0
Innovative Opportunities Fund	SBI Mutual Fund	22.71 L	51.57	0.94%	1.648%	-1.68 L
Technology Fund	ICICI Prudential Mutual Fund	14.57 L	33.1	0.24%	1.058%	-0
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	253	0.01	0.01%	0%	-0

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

4

Final dividend20 Aug 2026 · ex-date₹3.25
Final dividend4 Sept 2025 · ex-date₹3
Final dividend5 Sept 2024 · ex-date₹2.75
Interim dividend10 Nov 2023 · ex-date₹2.5

1

Board meeting to consider results23 Jul 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

6 announcementsExport CSV

30 Sept 2026, 3:45 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

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Ratio	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—
EBITDA margin %	21.6%	23.3%	21.5%	18.8%
EBIT margin %	18.1%	19.5%	17.7%	14.9%
PAT margin %	14.1%	13.7%	13.8%	12.7%
Working capital
Receivable days	58	53	56	71
Inventory days	0	0	0	0
Payable days	34	28	28	30
NWC days	23	25	28	40
Leverage
Current ratio	1.69	1.66	1.88	1.73
Debt to EBITDA	0.39	0.26	0.2	0.73
Debt to equity	0.15	0.1	0.06	0.17
Interest coverage	18.2	10.2	16.2	14.3
Asset turnover	0.8	0.76	0.76	0.64
Return ratios
Return on assets %	11.3%	10.5%	10.4%	8.1%
Return on capital employed %	24.3%	29%	25.7%	19.4%
Return on equity %	25%	21.8%	18.8%	16.1%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Shanti Educational Initiatives LimitedSEILSEIL	₹3,006 Cr	₹3,006 Cr	₹0 Cr	₹0 Cr	—	₹0 Cr	—	—	—	—
Niit Learning Systems LimitedNIITMTSNIITMTS	₹2,633 Cr	₹2,900 Cr	₹2,066 Cr	₹370 Cr	18.8%	₹256 Cr	12.7%	19.4%	18%	40
Niit LimitedNIITLTDNIITLTD	₹1,161 Cr	₹1,161 Cr	₹402 Cr	₹-7 Cr	-3.4%	₹9 Cr	1.5%	2.2%	0.9%	-885
Aptech LimitedAPTECHTAPTECHT	₹505 Cr	₹505 Cr	₹517 Cr	₹33 Cr	6.3%	₹24 Cr	4.7%	15.2%	9.4%	3
Career Point Edutech LimitedCPEDUCPEDU	₹321 Cr	₹321 Cr	₹51 Cr	₹26 Cr	50.5%	₹24 Cr	44.8%	46.3%	34.6%	98
Cl Educate LimitedCLEDUCATECLEDUCATE	₹314 Cr	₹547 Cr	₹530 Cr	₹48 Cr	8.8%	₹-24 Cr	-4.8%	4.8%	-9.9%	-2,559
Zee Learn LimitedZEELEARNZEELEARN	₹206 Cr	₹545 Cr	₹424 Cr	₹107 Cr	23.7%	₹45 Cr	8.8%	11.9%	17.9%	63
Golden Crest Education & Services LtdGOLDENCRESTGOLDENCREST	₹169 Cr	₹169 Cr	₹0 Cr	₹0 Cr	47.6%	₹0 Cr	42.9%	2.2%	1.7%	269
VJTF Eduservices LtdVJTFEDUVJTFEDU	₹120 Cr	₹121 Cr	₹2 Cr	₹-13 Cr	32.8%	₹9 Cr	1.6%	7.8%	1%	-37
Compucom Software LimitedCOMPUSOFTCOMPUSOFT	₹103 Cr	₹152 Cr	₹33 Cr	₹1 Cr	7.6%	₹3 Cr	8.4%	2%	2%	317
Ascensive Educare LtdASCENSIVEASCENSIVE	₹75 Cr	—	₹59 Cr	₹6 Cr	10.3%	₹3 Cr	5.8%	—	—	—
Ironwood Education LtdIRONWOODIRONWOOD	₹73 Cr	₹112 Cr	₹53 Cr	₹8 Cr	15.6%	₹4 Cr	7.4%	15.6%	14.8%	4,186

Date	Category	Subject	Filing
30 Sept 2026, 3:45 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
18 Sept 2026, 11:23 am	Company Update Allotment of ESOP / ESPS	Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS	PDF
17 Sept 2026, 3:50 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
10 Sept 2026, 7:19 pm	Company Update Investor Presentation	Announcement under Regulation 30 (LODR)-Investor Presentation	PDF
9 Sept 2026, 6:10 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
9 Sept 2026, 3:50 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF

Niit Learning Systems Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Ratios

Ratio timeline

Shareholding

Quarterly record

Insider dealing

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Dividends4

Board meetings1

Announcements

Not in the F&O segment

Ratio timeline

Dividends4

Board meetings1

Quarterly record

Insider dealing

Board and management

Announcements

Annual reports

Investor Presentation and earnings call

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

4

1

4

1