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NAVNETEDUL Consensus Forecast

No. of reports in last year
6
No. of analysts
2
Average Consensus Forecast
111.67
Consensus Potential
25.67%

NAVNETEDUL Price Target Potential

BrokerageTargetPotential
Prabhudas Lilladher8910.34%
ICICIdirect.com11530.61%

NAVNETEDUL Targets in FrontPage Forums

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NAVNETEDUL Ratings

Long term NAVNETEDUL rating by FrontPage users
5/5 (2 Ratings)

6 NAVNETEDUL share price target reports by brokerages below. See what is analyst's view on NAVNETEDUL share price forecast, rating, estimates, valuation and prediction behind the target. You may use these research report forecasts for long-term to medium term for your investment or trades in 2020.
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NAVNETEDUL Share Price Target

NAVNETEDUL Share Price Target - Broker Reports - 2020

18-Jun-20
Price @ Call: 80.01
Target: 89
ACCUMULATE
19-Apr-20
Price @ Call: 65.57
Target: 82
BUY
For S Chand, we expect a loss of Rs64mn (versus PAT expectation of Rs417mn) in FY20 as COVID-19 has resulted in revenue loss of 15-20 days in a seasonally strong quarter (~75-80% of revenue accrues in 4Q, with ~30% of sales accrual in March itself). As per our estimates, ~Rs1bn of revenue spillover is expected from 4QFY20 to 1QFY21 due to COVID induced shutdown. Since this is a spillover, and academic cycles have been realigned, we have increased our FY21E PAT estimates by 18.9%. For Navneet, we have cut our EPS estimates by 11%/16% for FY20/FY21 respectively as 1) syllabus change schedule of FY21 does not indicate any meaningful delta from the publishing division 2) scale up in ILL is slower than anticipation and 3) 15-20 days of stationary sales are lost due to lockdown. As COVID-19 is a timing related issue for education companies (revenue spillover across timelines due to realignment in academic cycles) we maintain our BUY rating on Navneet with a TP of Rs82 (8.5x FY22E EPS of Rs9.7) and ACCUMULATE rating on S Chand with a TP of Rs67 (3x FY22E EPS of Rs22.2)
... Read more
4-Feb-20
Price @ Call: 91.5
Target: 115
BUY
With limited changes in the FY21 syllabus for Maharashtra, the outlook for the publication segment stays subdued in the near term. The company is seeking acquisition opportunities to enhance its geographical reach to other states (with acquisition size of ~| 100 crore). The management expects Indiannica (recent acquisition in CBSE curriculum) to achieve breakeven in FY20E (vs. EBITDA loss of Rs 19.7 crore in FY19) owing to introduction of new workbooks, content, reduction in fixed overheads, enhanced marketing spends. We build in revenue CAGR of 13% in FY19-21E, driven by 5%, 23% CAGR in publication segment, stationery segment, respectively. The strategy of enhanced focus on white label stationery exports has provided growth momentum to revenue with improved margin due to operating efficiencies (YTDFY20 EBIT margins for stationery segment up 670 bps YoY to 16.0%). The stock is available at reasonable valuation of 8.6x FY21/PE. We maintain BUY rating with a revised target price of Rs 115 (11.0x FY21E EPS).
... Read more
3-Feb-20
Price @ Call: 92.75
Target: 108
BUY
We cut our PAT estimates by 20%/13% for FY20E/FY21E respectively as 1) scale up in ILL is slower than anticipation (in 9MFY20 sales stood at RS134mn; effectively implying flattish growth for FY20E) and 2) expectation of low single digit growth from publishing division (earlier expectation of mid double digit growth) on account of limited changes in the syllabus in the state of Maharashtra. However, outlook for stationary division remains bright as domestic business will benefit from branding/marketing efforts in selected states and strong pipe-line of export orders. Even outlook for E-sense (sales down 24.7% YoY to Rs152mn in 9MFY20) looks encouraging going forward as more schools opt for digital learning. Given growth challenges in the publishing division we cut our target multiple to 10.5x (earlier 12x) but retain BUY with a TP of Rs108 (earlier Rs142), amid 20% bottom-line CAGR over FY19-22E, superior return ratios, strong dividend pay-out and narrowing losses in ILL.
... Read more

NAVNETEDUL Share Price Target - Broker Reports - 2019

14-Nov-19
Price @ Call: 98.67
Target: 142
BUY
Navneet’s (NELI) results were above our estimates in a seasonally leanquarter with revenues declining 6.3% YoY to Rs2,468mn (PLe of Rs2,160mn; beat by ~14%). However, after adjusting for the spillover of Rs600mn in 2QFY19, revenues increased 21.3% YoY aided by strong growth in the stationery segment. EBITDA declined 31.4% YoY to Rs318mn and was in-line with our estimate with margins declining 470bps YoY to 12.9%. Tax reversals led to 47% YoY growth in PAT to Rs425mn. Given the current quarter performance, we keep our estimates broadly unchanged. Valuations at 9.6x FY20E and 8.3x FY21E appear attractive given 33% bottom line CAGR over FY19-21E, superior return ratios, strong dividend pay-out and narrowing losses in E-sense. However, we marginally cut our target multiple to 12x (earlier 15x) as we roll forward to FY21E. Maintain BUY with a TP of Rs142 (earlier Rs153).
... Read more
9-Aug-19
Price @ Call: 106.6
Target: 134
BUY
Navneet’s (NELI) results were broadly in-line with our estimates in a seasonally strong quarter with revenues increasing 18.7% YoY to Rs7,950mn (PLe of Rs7,353mn; beat by ~8%) aided by 1) syllabus changes in Gujarat & Maharashtra (refer exhibit 6 for full syllabus change schedule) and 2) low base effect (publishing revenue declined in 1QFY19 due to lack of clarity over license issue with Maharashtra State Board). EBITDA increased 17.2% YoY to Rs2,314mn and was in-line with our estimate with margins declining 40bps YoY to 29.1%. PAT increased 16.7% YoY to Rs1,474mn (PLe of Rs1,436mn). However, PAT margin declined 40bps YoY to 18.5%. Given the current quarter performance, we believe NELI is on track to achieve growth guidance of ~15% in publishing business and ~16-17% in stationary business for FY20. Thus, we keep our estimates broadly unchanged. Valuations at 11x FY20E and 10x FY21E appear attractive given 24.8% bottom line CAGR over FY19-21E, superior return ratios, strong dividend pay-out and narrowing losses in E- sense. However, we marginally cut our target multiple to 15x (earlier 16x) given delay in turnaround time of ILL acquisition. Maintain BUY with a TP of Rs134 (earlier Rs142).
... Read more
21-May-19
Price @ Call: 109.3
Target: 130
BUY
Navneet reported healthy revenue growth of 20% YoY to | 1445.0 crore in FY19, on the back of strong performance across its divisions. However, on the profitability front, consolidated EBITDA margins remained constant at 18.7% YoY mainly on account of widening of losses for Indiannica (standalone EBITDA margins expanded ~ 40 bps YoY to 21.1%). Going forward, we expect Navneet to report revenue and earnings CAGR of 11.2% and 19.3% in FY19-21E, driven by syllabus change for the publication segment, stabilisation of Indiannica business and higher export orders for stationery division. We maintain our BUY rating on the stock with a target price of Rs 130, valuing at a multiple of 14.0x FY21E EPS.
... Read more
20-May-19
Price @ Call: 108.84
Target: 135
BUY
We have cut our PAT estimates for FY20/FY21 by 17%/15% on account of losses in Indiannica due to sluggish recovery. In FY20, change in Gujarat Board syllabus is expected to drive 13% growth in the publishing business. We expect NELI to deliver sales/PAT CAGR of 14%/20% over FY19-21E. We value the stock at 14x FY21E EPS with target price of INR135/share and maintain Buy rating.
... Read more
16-May-19
Price @ Call: 107.05
Target: 142
BUY
Valuations at 12.1x FY20E and 10.5x FY21E appear attractive given 23.7% bottom line CAGR over FY19-21E, superior return ratios, strong dividend pay-out and narrowing losses in E-sense. However, we marginally cut our target multiple to 16x (earlier 18x) given delay in turnaround time of ILL acquisition (losses increased from Rs193.9mn in FY18 to Rs286.5mn in FY19 while sales of Rs644.7mn in FY19 was below the previous guidance of Rs720-730mn). Maintain BUY with a TP of Rs142 (earlier Rs157).
... Read more
8-Feb-19
Price @ Call: 104.73
Target: 148
BUY
We continue to remain positive on NEL’s growth prospects given its strong leadership position in Maharashtra and Gujarat. Further, with the content licensing uncertainty behind us, we expect NEL to report healthy growth in the publication segment in FY20E. In the long run, we beleive NEL is well placed to benefit from syllabus changes in Gujarat and Maharashtra. Moreover with acquisition of EBI and common curriculum for Maths and Science across India provides a huge opportunity for Navneet to gain market share in the fast growing CBSE segment. Further, the robust stationery growth is expected to continue due to benefits of GST for organized players and strong growth momentum witnessed in the exports segment. We have marginally tweaked our estimates for FY19E & FY20E and have incorporated FY21E earnings. Nonetheless, we maintain a Buy on the stock with a revised target price of Rs. 148.
... Read more
12-Feb-19
Price @ Call: 105
Target: 159
BUY
7-Feb-19
Price @ Call: 105.05
Target: 130
BUY
6-Feb-19
Price @ Call: 105
Target: 157
BUY

NAVNETEDUL Share Price Target - Broker Reports - 2018

15-Oct-18
Price @ Call: 107.05
Target: 146
BUY
3-Aug-18
Price @ Call: 118.94
Target: 160
ACCUMULATE
25-May-18
Price @ Call: 127.29
Target: 149
NEUTRAL
14-May-18
Price @ Call: 141.8
Target: 161
BUY
9-Feb-18
Price @ Call: 139.62
Target: 185
BUY
8-Feb-18
Price @ Call: 137
Target: 200
BUY

NAVNETEDUL Share Price Target - Broker Reports - 2017

9-Nov-17
Price @ Call: 165.3
Target: 189
ACCUMULATE
28-Aug-17
Price @ Call: 156.9
Target: 215
BUY
29-May-17
Price @ Call: 175
Target: 204
BUY
13-Apr-17
Price @ Call: 164
Target: 204
BUY
30-Mar-17
Price @ Call: 170
Target: 210
BUY
6-Feb-17
Price @ Call: 132
Target: 150
BUY
12-Jan-17
Price @ Call: 103
Target: 132
BUY

NAVNETEDUL Share Price Target - Broker Reports - 2016

25-May-16
Price @ Call: 90
Target: 94
HOLD
30-Dec-16
Price @ Call: 109.25
Target: 135
BUY
16-Nov-16
Price @ Call: 106
Target: 122
BUY
9-Aug-16
Price @ Call: 106
Target: 124
BUY
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  • NAVNETEDUL Share Price Target Today- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 382.62
    Upside Target 281.73
    Upside Target 180.67
    Pivot79.78
    Downside Target 178.72
    Downside Target 277.83
    Downside Target 376.77
  • NAVNETEDUL Share Price Target weekly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 386.47
    Upside Target 283.33
    Upside Target 181.27
    Pivot78.13
    Downside Target 176.07
    Downside Target 272.93
    Downside Target 370.87
  • NAVNETEDUL Share Price Target monthly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3101.47
    Upside Target 291.98
    Upside Target 184.27
    Pivot74.78
    Downside Target 167.07
    Downside Target 257.58
    Downside Target 349.87
  • NAVNETEDUL Share Price Target today- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 381.73
    Upside Target 280.99
    Upside Target 180.53
    Pivot79.78
    Downside Target 179.04
    Downside Target 278.58
    Downside Target 377.83
  • NAVNETEDUL Share Price Target weekly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 383.33
    Upside Target 281.35
    Upside Target 180.12
    Pivot78.13
    Downside Target 176.15
    Downside Target 274.92
    Downside Target 372.93
  • NAVNETEDUL Share Price Target monthly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 391.98
    Upside Target 285.41
    Upside Target 181.35
    Pivot74.78
    Downside Target 168.21
    Downside Target 264.15
    Downside Target 357.58
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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