BSE: 539921 | NSE: | Educational Institutions | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Shanti Educational Initiatives Ltd is a below average quality company.
The key valuation ratios of Shanti Educational Initiatives Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Shanti Educational Initiatives Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 1.9% | 8.3% | 6.5% | 5% | 3.6% | 1.6% | 1.2% | 2.3% | 8.2% | 7.4% | - |
| Value Creation Index ⓘ | -0.9 | -0.4 | -0.5 | -0.6 | -0.7 | -0.9 | -0.9 | -0.8 | -0.4 | -0.5 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 6.1 | 8.8 | 9.6 | 22 | 13.9 | 12.4 | 3 | 3.9 | 11 | 14.3 | 19 |
| Sales YoY Gr. | - | 44% | 8.7% | 128.4% | -36.7% | -10.7% | -75.7% | 30.1% | 179.6% | 30.1% | - |
| Adj EPS ⓘ | 0 | 0.2 | 0.1 | 0.1 | 0.1 | 0 | 0.1 | 0.1 | 2.1 | 2 | 0.3 |
| YoY Gr. | - | 350% | -27.8% | -23.1% | -40% | -100% | NA | -61.5% | 4080% | -5.7% | - |
| BVPS (₹) ⓘ | 1.6 | 2.4 | 2.9 | 3 | 3 | 3.4 | 3.5 | 3.5 | 37.5 | 39.3 | 4.3 |
| Adj Net Profit ⓘ | 0.6 | 2.7 | 2 | 1.7 | 1 | 0 | 2.1 | 0.8 | 3.4 | 3.2 | 5 |
| Cash Flow from Ops. ⓘ | 0.6 | 0.9 | -1.8 | 0.6 | 0.7 | 1.6 | -2.3 | 0.5 | 0.2 | -2.1 | - |
| Debt/CF from Ops. ⓘ | 44.7 | 11.9 | -6.1 | 7.5 | 6.5 | 2.4 | -1.4 | 6.3 | 12.5 | -0.7 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 9.9% | 0.6% | 67.9% | 30.1% | ||||
| Adj EPS ⓘ | 54.2% | 101% | 147.5% | -5.7% | ||||
| BVPSⓘ | 42.6% | 67.2% | 124.1% | 4.9% | ||||
| Share Price | - | 81% | 162.2% | 169.8% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 2.6 | 9 | 4.9 | 3.5 | 2.1 | 0.1 | 3.9 | 1.4 | 5.7 | 5.1 | 1.4 |
| Op. Profit Mgn % ⓘ | 8.3 | 14.3 | 15.7 | 2.3 | 8 | -5.3 | -45.5 | -36.6 | 3.7 | 8.5 | 16.8 |
| Net Profit Mgn % ⓘ | 9.5 | 30.3 | 21.1 | 7.5 | 7.1 | 0.3 | 70.5 | 20.3 | 30.7 | 22.2 | 26 |
| Debt to Equity ⓘ | 1.2 | 0.3 | 0.2 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0 | 0 | 0 |
| Working Cap Days ⓘ | 2,027 | 1,398 | 1,373 | 588 | 829 | 898 | 3,489 | 2,581 | 1,065 | 983 | 125 |
| Cash Conv. Cycle ⓘ | 70 | 67 | 81 | 44 | 79 | 61 | 171 | 139 | 66 | 72 | 66 |
Sales growth is growing at healthy rate in last 3 years 67.92%
Net Profit is growing at healthy rate in last 3 years 147.46%
Sales growth is good in last 4 quarters at 43.56%
Return on Equity has declined versus last 3 years average to 1.40%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 0.3 | 0.3 |
| TTM Sales (₹ Cr.) | 18.6 | 25.7 |
| BVPS (₹.) ⓘ | 4.3 | 4.3 |
| Reserves (₹ Cr.) ⓘ | 52 | 53 |
| P/BV ⓘ | 39.93 | 39.44 |
| PE ⓘ | 558.51 | 586.50 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 52.01 / 207.75 |
| All Time Low / High (₹) | 8.30 / 207.75 |
| Market Cap (₹ Cr.) | 2,738 |
| Equity (₹ Cr.) | 16.1 |
| Face Value (₹) | 1 |
| Industry PE ⓘ | 56.9 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 6 | 9 | 10 | 22 | 14 | 12 | 3 | 4 | 11 | 14 |
| Operating Expenses ⓘ | 6 | 8 | 8 | 21 | 13 | 13 | 4 | 5 | 11 | 13 |
| Manufacturing Costs | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Material Costs | 2 | 2 | 3 | 13 | 4 | 4 | 1 | 1 | 2 | 3 |
| Employee Cost | 2 | 3 | 3 | 5 | 4 | 4 | 2 | 2 | 3 | 4 |
| Other Costs ⓘ | 1 | 2 | 2 | 4 | 4 | 4 | 1 | 2 | 5 | 6 |
| Operating Profit ⓘ | 1 | 1 | 2 | 0 | 1 | -1 | -1 | -1 | 0 | 1 |
| Operating Profit Margin (%) | 8.3% | 14.3% | 15.7% | 2.3% | 8.0% | -5.3% | -45.5% | -36.6% | 3.7% | 8.5% |
| Other Income ⓘ | 1 | 3 | 2 | 3 | 1 | 2 | 3 | 4 | 5 | 4 |
| Interest ⓘ | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 0 | 0 |
| Depreciation ⓘ | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 0 | 0 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 1 | 4 | 3 | 2 | 1 | 0 | 0 | 1 | 5 | 4 |
| Tax ⓘ | 0 | 1 | 1 | 1 | 0 | 0 | -2 | 0 | 1 | 1 |
| Profit After Tax | 1 | 3 | 2 | 2 | 1 | 0 | 2 | 1 | 3 | 3 |
| PAT Margin (%) | 9.5% | 30.3% | 21.1% | 7.5% | 7.1% | 0.5% | 70.5% | 20.3% | 30.6% | 22.2% |
| Adjusted EPS (₹) | 0.0 | 0.2 | 0.1 | 0.1 | 0.1 | 0.0 | 0.1 | 0.1 | 2.1 | 2.0 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 22 | 37 | 46 | 48 | 49 | 54 | 56 | 57 | 60 | 63 |
| Share Capital ⓘ | 14 | 15 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 |
| Reserves ⓘ | 8 | 22 | 30 | 31 | 32 | 38 | 40 | 41 | 44 | 47 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 26 | 10 | 11 | 4 | 4 | 3 | 3 | 3 | 2 | 2 |
| Long Term Debt | 26 | 10 | 11 | 4 | 4 | 3 | 3 | 2 | 2 | 1 |
| Short Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 |
| Trade Payables | 0 | 0 | 1 | 1 | 1 | 1 | 0 | 0 | 1 | 0 |
| Others Liabilities ⓘ | 2 | 3 | 4 | 5 | 5 | 7 | 5 | 4 | 5 | 4 |
| Total Liabilities ⓘ | 50 | 50 | 62 | 57 | 59 | 66 | 64 | 64 | 68 | 69 |
Fixed Assets | ||||||||||
| Gross Block | 9 | 9 | 9 | 10 | 15 | 18 | 18 | 18 | 17 | 17 |
| Accumulated Depreciation | 1 | 1 | 2 | 2 | 2 | 3 | 4 | 5 | 4 | 4 |
| Net Fixed Assetsⓘ | 7 | 8 | 8 | 8 | 13 | 14 | 14 | 13 | 13 | 13 |
| CWIP ⓘ | 0 | 1 | 6 | 9 | 5 | 6 | 7 | 7 | 0 | 0 |
| Investmentsⓘ | 8 | 8 | 8 | 3 | 3 | 14 | 14 | 10 | 9 | 9 |
| Inventories | 1 | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 2 | 2 |
| Trade Receivables | 1 | 1 | 2 | 2 | 3 | 1 | 1 | 1 | 2 | 2 |
| Cash Equivalents | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 2 | 3 | 1 |
| Others Assetsⓘ | 33 | 31 | 36 | 33 | 32 | 28 | 26 | 31 | 38 | 42 |
| Total Assets ⓘ | 50 | 50 | 62 | 57 | 59 | 66 | 64 | 64 | 68 | 69 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 1 | 1 | -2 | 1 | 1 | 2 | -2 | 0 | 0 | -2 |
| PBT ⓘ | 1 | 4 | 3 | 2 | 1 | 0 | 0 | 1 | 5 | 4 |
| Adjustment ⓘ | 0 | -3 | -2 | -1 | 1 | 0 | -1 | 0 | -1 | -2 |
| Changes in Working Capital ⓘ | 0 | 1 | -2 | 1 | -1 | 2 | -1 | 0 | -2 | -3 |
| Tax Paid ⓘ | 0 | -1 | -1 | -1 | 0 | 0 | 0 | 0 | -1 | -1 |
| Cash Flow From Investing Activity ⓘ | 2 | -1 | -5 | 6 | 0 | 1 | 2 | 2 | 1 | 1 |
| Capex | -2 | 0 | 0 | -4 | -2 | -3 | -1 | 0 | 0 | 0 |
| Net Investments | 4 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | -4 | 9 | 2 | 2 | 4 | 2 | 2 | 2 |
| Cash Flow From Financing Activityⓘ | -3 | 0 | 7 | -6 | -1 | -2 | -1 | -1 | -1 | -1 |
| Net Proceeds from Shares ⓘ | 0 | 12 | 7 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -2 | -16 | 1 | -6 | 0 | -1 | -1 | 0 | -1 | -1 |
| Interest Paid ⓘ | 0 | 2 | 2 | 0 | -1 | 0 | 0 | -1 | 0 | 0 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | -1 | 2 | -3 | 0 | 0 | -1 | 0 | 0 | 0 | 0 |
| Net Cash Flow ⓘ | 0 | 0 | 0 | 0 | 0 | 1 | -1 | 1 | 1 | -1 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 2.63 | 9.02 | 4.89 | 3.53 | 2.05 | 0.13 | 3.87 | 1.41 | 5.74 | 5.14 |
| ROCE (%) | 1.91 | 8.28 | 6.51 | 5.02 | 3.59 | 1.57 | 1.21 | 2.28 | 8.2 | 7.44 |
| Asset Turnover Ratio | 0.12 | 0.18 | 0.17 | 0.37 | 0.24 | 0.2 | 0.05 | 0.06 | 0.17 | 0.21 |
| PAT to CFO Conversion(x) | 1 | 0.33 | -1 | 0.5 | 1 | N/A | -1 | 0 | 0 | -0.67 | Working Capital Days |
| Receivable Days | 55 | 42 | 55 | 32 | 66 | 50 | 86 | 62 | 42 | 45 |
| Inventory Days | 48 | 40 | 49 | 25 | 40 | 40 | 142 | 100 | 43 | 44 |
| Payable Days | 90 | 41 | 65 | 21 | 66 | 77 | 334 | 93 | 62 | 56 |
The company was originally incorporated as Chiripal Enterprises on May 12, 1988 with the Registrar of Companies, Gujarat as a public limited company under the provisions of the Companies Act, 1956 and a certificate of commencement of business was issued by the Registrar of Companies, Gujarat on July 12, 1988. Further the name of the company was changed from Chiripal Enterprises Limited to Shanti Educational Initiatives Limited vide a fresh certificate of incorporation dated April 16, 2010 issued by the Assistant Registrar of Companies, Gujarat, Dadra and Nagar Havelli.
The company is headquartered in Ahmedabad and forms part of the esteemed Chiripal Group. Chiripal Group is promoted by experienced veterans with proven track records. Today, the group is engaged in diversified businesses in the fields of textile, spinning, weaving, knitting, fabric processing, chemicals, infrastructure, BOPP films etc. and offering employment to approximately 20,000 people associated directly or indirectly with the Group. The company’s primary focus is to deliver high quality and affordable educational services to the broader population by leveraging its economies of scale, skilled staff, and an efficient business model.
The company’s presence in educational services sector is spread all over India with a strong presence particularly in the state of Gujarat. The company has highly experienced management team that works on providing standardized and effective teacher training, technology-driven English medium curricula and assured learning outcomes and their experience and skill lead the company to overall growth and differentiate the company from several of its competitors.
Business area of the company
The company is primarily engaged in the business of providing educational support services to preschools, K-12 and premium category preschools in India. Presently the company is operating under three business units Shanti Juniors, Shanti Asiatic School and Shanti’s Hopskotch.
Company’s Services
The company offers solutions to bring visible change that would make school grow in all verticals. The company’s key contribution areas in the school projects are as follows:
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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