Date: September 17, 2017

To Listing Department BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai, Maharashtra 400001

To Listing Department, National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai, Maharashtra 400051

Dear Sir,

Re: Intimation of meeting with analysts and investors-pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”)

Pursuant to Regulation 30 of the Listing Regulations, it is hereby informed that the management of the Company will be meeting the investors/analysts on 18th, 19th and 20th of September 2017 at Singapore/Honkong as per the schedule enclosed herewith. The presentation for the analysts/investors is also attached herewith.

The Company shall also disseminate the above information on the website of the Company i.e. www.schandgroup.com.

Request you to kindly take note of the same.

 

 

Schedule of Investors/Analysts meetings

Date of meeting Time of meeting Type of meeting Name of fund/firm

18.09.2017

10:30 A.M.-11:30

A.M.

One on One Nomura Asset Management Singapore

Limited

12:00 P.M.-1:00 P.M. One on One Maybank Asset Management Singapore

Pte. Ltd.

1:15 P.M.-2:15 P.M. One on One Helios Capital Management Pte. Ltd.

2:45 P.M.-3:45 P.M. One on One Kotak Offshore Limited

4:00 P.M.-5:00 P.M. One on One Somerset Capital Management

5:15 P.M.-6:15 P.M. One on One Nalanda Capital Pte Ltd

19.09.2017

10:30 A.M.-11:30

A.M.

One on One Eastspring Investments (Singapore)

Limited

3:15 P.M.-4:15 P.M. One on One Sundaram MF

20.09.2017

2:45 P.M.-3:45 P.M. One on One Indus Capital Advisors (HK) Ltd.

4:00 P.M.-5:00 P.M. One on One Rochdale Investment Management

Investor PresentationSeptember2017

INDUSTRYOVERVIEW

Q1FY2018RESULTSUPDATE

COMPANYOVERVIEW

APPENDIX

1

INDUSTRYOVERVIEW

113 127 133 121 111

348

18866

9% 11% 11% 10% 9%

29%

16% 6%

-30%

-20%

-10%

0%

10%

20%

30%

40%

0

50

100

150

200

250

300

350

400

450

500

0to4 5to9 10to14 15to19 20to24 25to44 45to64 above65No.ofpeople(mn) Percentageoftotalpeople

IndianEducationSector:InflectionPoint+StrongPotential

Age-wisepopulation distributioninIndia:SChandtargetmarket.

PotentialMarketof492MN=41%oftotalpopulation

v Gross enrolment ratio and students completing primary &secondary education gradually improving in India.

v Falling dropout rates and increased girls participation led toimprovement in literacy rate.

v Government promoting education through various schemes withbudgetary support.

Literacyrateimprovingwithhigherparticipationfromstudents.

SChandwellpositionedtobenefitfromsectortailwinds.

5.6% 4.7%

4.3%

0.00%

1.00%

2.00%

3.00%

4.00%

5.00%

6.00%

7.00%

8.00%

9.00%

10.00%

2012 2013 2014

Decreaseindrop-outratesforprimaryeducationinIndia.

3

(Source:IBEFReport)

(Source:NielsenReport)

EstimatedPopulationLevelofEducation % 2017(MN) % 2022(MN)

Illiterate 20% 269 18% 250Literatebutnoformalschooling 2% 27 1% 14School- Upto5thstandard 35% 471 36% 501School- Upto10thstandard 18% 242 18% 250School- Upto12thstandard 11% 148 11% 153Somecollegebutnotgraduate 5% 67 5% 70Graduate 6% 81 7% 97Postgraduate 3% 40 4% 56Literate 80% 1076 82% 1141Total 100% 1345 100% 1391

(Source: Technopak’sOutlookonIndiaSchoolingSegment)

IncreasingHouseholdExpenditureOnEducation

Ø Educationandrelatedexpensesgraduallyincreasingwithrisingaffluenceanddiscretionaryspend.Booksandstationeryconstituteasmall%ofeducationspend.

Ø Allocationtowardseducation@5.6%ofdiscretionaryspendisamongstlowestintheworld.

Ø AveragepriceofeducationbooksinIndiasignificantlylowerataroundUS$3vis-à-visemergingeconomies.

Ø Inelasticdemandforeducationcontent.

InvestmentinIndia’sEducationSector. Highershareofeducationindiscretionaryspend.

3.1% 3.4% 3.6% 3.8% 4.2%

2.00%

2.50%

3.00%

3.50%

4.00%

4.50%

5.00%

5.50%

6.00%

2010 2012 2014 2015 2020e

53% 54% 57% 57% 60% 59% 64%

4.0% 4.4% 4.7% 4.7% 5.0% 5.0% 5.6%

-30.0%

-25.0%

-20.0%

-15.0%

-10.0%

-5.0%

0.0%

5.0%

10.0%

30%

40%

50%

60%

70%

80%

90%

100%

2005 2012 2013 2014 2015 2016 2020eDiscretionary Education

AsapercentageofGDP

Educationsectorpoisedforsustainablegrowthforthelongterm.

4

(Source: TechnopakResearchReport)(Source:IBEFReport)

Largeaddressableopportunity

(Source:TechnopakResearchReport.TechnopakOutlookonIndia’sSchoolingSegmentJune2017.Nielsen:IndiaBookMarketReport2015)

US$90 BN Market Size for the Indian Education Sector

50

15

8

5

526

India education sector

FormalEducationSegment

o US$65BN

o ComprisesbothK-12schoolsandhighereducationinstitutions(colleges,engineeringinstitutes,etc.).

o Regulatedsegment,institutionscannotbesetupona‘forprofit’basis.

InformalEducationSegment

o US$20BN

o Comprisesoftestprep,tutoring,earlyeducationandvocationaltraining.

o Lessregulated;norestrictionsonprofitdistribution.

1.6 1.9 2.32.7

3.2

FY2011 FY2012 FY2013 FY2014 FY2015

(K-12ancillarymarket,US$inbillion)

K-12

HigherEducation

Testprep

Vocational

Tutoring

Early education

5

SChandoperatesinthissegment(K-12/HigherEducationcontent).

Ø Supportsformalandinformaleducationsegments.

o Comprisesofcontent,digitalcontent& serviceslikecurriculummanagement.

o MostlycaterstoK-12&highereducationinstitutions.

Ø Lessregulated;norestrictionsonprofitdistribution.

Ø K-12ancillarymarketisfastgrowing with~20%CAGRduring2011-15.

Ø Robustgrowthdrivers.

o EligibleK-12populationofabout296MNstudentsinagegroup6to17years.

o Privateunaidedschoolsincreasedataveragerateof10.4%during2011-15.

o Indiahaslargesteducationsystemintheworldwithover750Universities&35,000colleges.

Ø Highlyfragmentedsegmentprovidingroomforgrowth.

US$6BNAncillaryEducationSegment

PreferenceShiftingTowardsPrivate&CentralCurriculumSchools

Privateschoolsmarketshareincreasingeveryyear

80.0% 78.8% 78.5% 77.9% 77.0%

20.0% 21.2% 21.5% 22.1% 23.0%

0%

20%

40%

60%

80%

100%

120%

FY11 FY12 FY13 FY14 FY15Governmentschools PrivateSchools

Ø Student share of private schools increasing consistently despite subsidisedfees and freemeals/ books in government schools.

Ø Government schools losing favour even amongst the rural and not soaffluent population.

Ø CBSE and ICSE schools are preferred for their superior curriculum and betterpedagogy.

Ø S Chand is a key beneficiary of increasing number of CBSE and ICSE schools,being the leading content provider to such schools amongst the privatepublishers.

CBSE&ICSEincreasingfasteramongstaffiliatedboardschools

Board 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 CAGR

CBSE 11,349 12,337 13,898 14,778 15,933 17,474 19,446 9.4%

ICSE 1,461 1,565 1,678 1,798 1,927 2,181 2,295 7.8%

State Boards 13,16,401 13,63,862 14,47,487 14,65,871 14,60,455 NA NA NA

Total 13,29,211 13,77,764 14,63,063 14,63,447 14,78,315 NA NA NA

(Source:NielsenResearchReport,SchoolBoardreports,DISE)

Preferencetowardsprivateschoolscontinuetorise

6

IndianK-12educationinfrastructure

NumberofSchools:1.5MNGovernment: 1.1MN Private:0.4MN

NumberofStudents:260MNGovernment: 150MN Private: 110MN

No.ofTeachers:9MNGovernment:5MN Private: 4MN

AnnualIntake:18MNGovernment: 10MN Private: 8MN

AdditionalCapacityRequired:36MNAdditionalRequirementofTeachers:2MN

AdditionalResources:USD55BN

(Source: Technopak’sOutlookonIndia’sSchoolingSegment)(Source: IBEFReport)

COMPANYOVERVIEW

Strongcontent,multiplebest-sellers.

Ø Offeringsspanningentiretheeducationspectrum

o Earlylearning

o K-12

o Highereducation

Ø Pan-Indiasalesanddistributionnetworkdrivingdeepmarketreach.

Ø PresenceinCentral(CBSE,ICSE)andStateBoardaffiliatedschoolsacrossIndia.

Deliveringcontent,servicesandsolutions…

…acrosstheeducationcontinuum

…withPanIndiareach

Portfolioofbrandsfocusedonprint/digitalcontent.

75+

Yearsofoperatinghistory(1)

48MN

Activebooktitles(2)

Authorrelationships(3)

(1) S.Chand&Co.hasbeeninoperationsince1939whichwaslatertakenoverbyS.Chand&CompanyPrivateLimitedwhichwasincorporatedin1970.(2) IncludesEarlylearning,K-12&highereducationactivetitles.(3) AuthorrelationshipsasonMarch31,2017(4) Denotesgrossnumberofcopiesofalltitlessoldduringtheyear.

Ø Longoperatinghistoryofoversevendecades.

Ø Highbrandequityacrossmultiplebrands.

Ø Strongauthorrelationships.

Ø Keepingpacewithtime- transitionfromprintintodigitalcontentandservices.

~2,400 31%

RevenueCAGRFY2012-17

9,500+

BookssoldinFY2017(4)

55TPD

PrintCapacityinnumberofsheets

LeadingIndianEducationContentCompany.

8

ComprehensiveLifecycleFocusedEducationContentPlayer.

(1) S. Chand & Co. has been in operation since 1939 which was later taken over by S. Chand & Company Private Limited which was incorporated in 1970(2) Denotes gross number of copies sold.(3) Author relationships as on 31.03.2017.

ü Longstudentlifetimevalueü Lowercustomeracquisitioncost

duetohighbrandequity

Keybenefitsassociatedwithlifecyclepresence

75+yearsofoperating history.(1)

2,434authorrelationships. (3)

Pan-Indiaplayerintheeducationsector

48+millionbookssold inFY2017.(2)

Bridgingportfoliogapsthroughinvestments

FactorsthatallowS.Chandtobepresent

acrosslifecycle

Generatingrecurringrevenue- throughoutstudents’lives

ü Largeaddressablemarketü Enhancedbrandrecall

ü Strongconsumerconnectionü Highrevenuevisibility

Lifecyclestagesaddressed byS.Chandproducts

K-12Earlylearning Highereducation

Collegeanduniversity

Testpreparation

Technicalandprofessional

SChandisfocusedontheConsumer – boththe‘Learners’ andthe‘Educators’– throughcontent,innovations,empanelingleadingauthors,bestpractice

editorialprocessesetc.

9

K-12 HigherEducation EarlyLearning80%ofFY2017revenues(1)

45%revenueCAGR(4)18%ofFY2017revenues(2)

8%revenueCAGR (4) 2%ofFY2017revenues(3)

Schoolstudents(4-18years) Testprep(>18years)Collegestudents/professionals Children(2-5Years)

Ø Schools affiliated to Central / State Board.

Ø Largest K-12 content player in India.

o Dominant presence in Central Boardaffiliated schools.

o Increasing presence in State Boardaffiliated schools.

Ø Offers print content (books) and digital /hybrid content and solutions.

Ø Colleges and universities (arts,science & commerce degrees).

Ø Test prep for competitive exams(engineering, government jobs).

Ø Offers books, e-books, web andmobile delivery of content.

Ø STEMbased learning.

Ø Children books, educative games,activity based modules (experientiallearning).

Ø Also operates 6 pre-schools under’RiseKids’ brand.

(1) FinancialsdonotconsolidateEdutor&Flipclass.(2) FinancialsdonotconsolidateEdutor,Testbook,OnlineTyari.(3) FinancialsdonotconsolidateSmartivity.(4) RevenueCAGRfortheperiodFY2012- 17

Revenuecontribution

TargetSegment

Description/Highlights

Ø ConsolidateleadershippositioninCentralcurriculumschoolsaspreferredcontentpartner.

Ø Increasepresenceinlargeregionalmarkets.

Ø Examorientedcontentfortestpreparation.

Ø Institutionalpartnerships.

Ø Focusondigitaltoexpandreachandproductoffering.

Ø Completepresenceacrossstudentlifecycle.Strategy

Brands

Ø Around25%revenuecontributionfromhybridofferingsand~5%revenuecontributionfrompuredigitalofferingsinFY2017.

Digital/HybridContribution

BusinessSegments.

10

StrongPositionInK-12Segment.

S.Chand’sgrowthanchoredbyleadershipinK-12Segment. GrowthStrategy

v ConsolidatedleadershipinCBSE/ICSEschoolsaspreferredcontentprovider.

ü MoreofferingsinK-12throughmultiplebrands.

ü Curriculummanagement.

v Geographicaldiversificationinlargeregionalmarkets/stateboardschools.

ü Acquisitions/JointVentures.

v Highershareofeducationspendwithenhancedcontentofferings.

ü Digital/hybridofferings.

v Continuouscontentdevelopment

5,378

8391,620

2,173

3,3783,898

5,467

FY12 FY13 FY14 FY15 FY16 FY17

K-12

üBestsellingtitlesincoresubjects(mathematics,science,English,Hindi).üHybridofferingsprovidemorevalueperunittostudentcomparedtopureprintcontent

11

DigitalInvestments(Inorganic)

Onlinetestprepplatform

Marketplacethatconnectsstudentswith

tutors

Activitybasedlearningfor

youngchildren

Onlinetestprepplatform

Devicebasedlearningand

contentprovider

S.Chand'sDigital

Offerings

Device based learning

Multi-mediabasedlearning

platform

Endtoendcurriculumsolutionforschools

Mobilelearningapplication

Hybridofferings

(CD,e-books)

S.Chand'sDigital

Offerings

Intellitab

In-houseDigital/ServicePlatforms

Growthindigital/servicesplatformwillsupplementexistingstrengthinK-12andTestPrepdomains.

Digital&ServicesPlatform:AtForefrontofInnovativeEducationDelivery.

12

Distributionchannel/sales

K-12

HigherEducatio

nEarlylearning

9-12

K-8

DistributorsSchools

Students

Distributors/Retailers

Students

Distributors/Retailers

Students

Distributors/Retailers

Students

Pan-Indiapresenceofsalesanddistributionnetwork

6,557distributors

Sales&marketingteam>900

WideGeographicalReachAcrosstheCountry.

13

RobustInfrastructureToCaterGrowingDemand.

Supply&Logistics

PrintingInfrastructure

DistributorChannel

ü Extensive network of 6,557 distributors withpan India presence.

ü S Chand brand ensures strong pricing poweramong various stakeholders.

ü TwoprintingfacilitiesatSahibabad(UP)andRudrapur(Uttaranchal).

ü Around70%of printingrequirementismanagedin-house.

ü Annualpapercontractsatgrouplevelenablepricingpower&assuredsupply.

ü In-houselogisticandwarehousingtosupportgrowingdemand.

ü Warehouselocatednearkeymarketscapableoftimelydeliveryofbooks.

14

ContributionofK-12toGroupRevenuesIncreasing… RevenueGrowth=MixofOrganic+Acquisitions

1,7462,816

3,7104,785 5,407

6,855

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

FY12 FY13 FY14 FY15 FY16 FY17

5YearCAGR:31%

EBIDTAGrowingAtFasterPace

271599 798

1,0401,281

1,722

0

200

400

600

800

1000

1200

1400

1600

1800

2000

FY12 FY13 FY14 FY15 FY16 FY17

5YearCAGR:45%

NetProfit(AfterMinority)Growth

147323

423268

466582

0

100

200

300

400

500

600

700

FY12 FY13 FY14 FY15 FY16 FY17

5YearCAGR:32%

PerformanceTrend.

2,1733,378 3,898

5,4671,3451,237

1,282

1,220

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

FY2014 FY2015 FY2016 FY2017

Earlylearning K12 HigherEducation OtherRevenue

15

FiguresinINRMN FiguresinINRMN

FiguresinINRMN FiguresinINRMN

16

ConsolidateleadershippositioninCentralBoardschoolsasapreferredcontentprovider.

Increasepresenceinlargeregionalmarkets.

Focusondigitaltoexpandreachandproductoffering.

ExamorientedcontentforTestPreparation.

InstitutionalPartnerships.

1

2

3

1

2

Introducenewtitles,widerrangeofsubjects,hybridofferingsandservices.

Establishtouchpointsinstateboardaffiliatedschools.Partnerwithregionalleadersineducationalcontent.

Leveragecontenttoexpandintodigitalofferings.

Customisedcontent/hybridsolutions.

Catertoexamspecificcontent,capturelargershareofthejobvacancymarket.

HigherEducation

GrowthStrategy.

K-12

Shareholding.

KeyInstitutional Investors %Holding

EverstoneCapitalPartnersIILLC 9.6

InternationalFinanceCorporation 8.1

HDFCPrudencefund 3.3

NomuraTrustAnd BankingCo.Ltd. 3.0

HSBCGlobalInvestmentFunds 1.3

MarketData On05th September2017

MarketCapitalization(INR MN) 17,153

No.ofsharesoutstanding(MN) 34.8

FaceValue(INR) 5.0

52weekHigh-Low(INR) 425- 707

46.7%

53.3%

OwnershipAsOn30.6.2017

Promoter Public

(Source– Company/BSEason30th June2017)(Source:www.bseindia.com)

17

Q1FY2018RESULTSUPDATE

FinancialPerformance:Q1FY2018(3Months).

SChandAndCompanyLimited (FigureinRupees MN) Standalone

QE30.6.17 QE30.6.16 YE 31.3.17

Revenuefromoperations 294 158 3,025

Otherincome 46 24 96

TotalIncome 340 181 3,121

Material consumed,netofchangeininventory 114 67 1,188

Publication expenses 48 22 317

Sellinganddistributionexpenses 46 36 206

Employeebenefitexpenses 129 100 481

Other expenses 71 79 277

EBIDTA (68) (122) 652

Depreciationandamortization 11 14 65

Financecosts 40 23 149

Profitbeforetaxation (120) (159) 438

Taxexpenses (41) (51) 166

Profitaftertaxationfortheperiod/ yearfromcontinuingoperations (79) (109) 272

Totalcomprehensiveincomefrotheperiod/year (78) (109) 272

Earningsperequityshare(INR) (forcontinuingoperations)• Basic• Diluted

(2.40)(2.40)

(3.64)(3.64)

9.129.10

19

KeyHighlights.

I. StandalonerevenuesatINR340MN,higherby88%YOY.• Q1isalowrevenuequarterforSChand,contributed<6%ofannualrevenuesinFY2017.

• SChandstandalonerevenuesconstitutearound45%ofgrouprevenues.

II. StandaloneEbidtaLossatINR68MNvsLossofINR122MNinQ1FY2017.• Improvementonaccountofhigherrevenues.

• Q1isanegativeebidtaquarterduetoseasonalnatureofbusiness.(historicaltrend)

III. StandaloneNetLoss(aftertaxes)atINR79MNvsLossof109MNinQ1FY2017.• HigherfinancecostsduetoacquisitionloanforChhaya,whichwasprepaidinMay2017.

IV. SuccessfullyraisedINR3,250MNfromInitialPublicOfferinginMay2017.• Commencedtradingonstockexchanges(NSE,BSE)onMay9,2017.• INR2,520MNutilizedtodeleverageandreduceinterestcost.

20

WorkingCapitalUpdate.

DebtorsreducedfromINR2,104Mnason01.04.17toINR1,756Mnason30.06.17.§ ~30%debtorsasatbeginningofQ1realizedduringthequarter.

§ ClosureofschoolsforsummerbreakimpactsrecoveryinQ1.

FiguresinINRMN

SChandStandaloneBasis(INRMN)

On30.6.17 On31.3.17

Debtors 1,756 2,104

Inventory 563 601

Creditors (725) (900)

NetWC 1,594 1,805

2,104

1,756

294642

0

500

1000

1500

2000

2500

3000

Debtorsason01.04.2017

SalesQ1 RealizationQ1 Debtorsason30.06.2017

DebtorsBridgeQ1,FY2018

21

PerformanceOverview.

SegmentPerformanceQ1FY2018

K-12

K-12contentrevenuesincreasedby118%YOY,fromINR84MNtoINR182MN.

§ K-12salescyclepeaksinQ4andtapersoffinQ1whennewacademicsessionbeginsincentralcurriculum

(CBSE,ICSE)schools.

§ K-12businesscontributestoaround80%ofgrouprevenuesonanannualizedbasis.

HigherEducationHigherEducationrevenuesincreasedby24%YOYtoINR125MN.

§ TestPreparationcontentrevenuesatINR23MNvsINR29MNinQ1FY2017.

§ College&University/Technical&ProfessionalcontentrevenuesatINR103MnvsINR72MninQ1FY2017.

DebtProfile(INRMN) On30.6.17 On31.3.17

GrossDebt 570 2,129 IPOproceedsused todeleverage.

Net Debt (247) 1,985 Net ofcashandbankbalance.

Shareholder funds 8,193 5,020 Increased byINR3,250MNagainstfreshequitysharesissuedinIPO.

Net Debt/ Equity Ratio - 0.39

22

BusinessUpdates.

RegulatoryCompliances

ü TransitionedintoIND-ASfromIndianGAAPwitheffectfromQ1FY2018.

ü SuccessfullyupgradeditsreportingandaccountingsystemstotransitiontoGSTasperstipulatedtimelines.

BusinessRestructuring

ü Considering various options for restructuring of the business of the Company and its subsidiaries with the objective of

simplifying the holding structure.

Minority Investments

ü Invested INR 2.5 Mn in Smartivity Labs Private Limited, an existing investee company engaged in early learning. Ownership at

23.5% on a fully diluted basis.

23

UtilizationofIPOProceeds.

Particulars AmountINRMN

Utilized till30.06.17INRMN

Remarks

GrossproceedsfromIPO:FreshIssue 3,250

Objects

Repaymentofloanavailed bySChandutilizedtowardsfundingacquisitionofChhaya 1,000 1,000

RepaymentofloanavailedbyEurasiaPublishingHousePrivateLimited (whollyownedsubsidiaryofSChand)utilizedtowardsfundingacquisitionofChhaya

504 504

Repayment ofloansavailedbySChand 550 524Company expectstoutilizeremainingfundsinthenextthreequartersofFY

2017-18.

RepaymentofloansavailedbysubsidiariesofSChand

496 474

GeneralCorporatePurposes 491 44

Share issueexpenses 209 209

Total 3,250 2,755

24

APPENDIX

Q1April- June Q2July- September Q3October- December Q4January- March

§ LastlegofK-12salesfornewacademicsessionanddeliveryofbookstodistributors/schools.

§ NewacademicsessioncommencesinAprilforCBSE/ISCEschools.

§ Annualpapercontractsnegotiated.

§ Finalisationoftitlescataloguefornextacademicyear(newtitles/revisions).

§ Salesperformancereview.(regional/branches)

§ HE(college/technicalconent)salesbuildsup.

§ Contentrevision/developmentbyeditorialteamincollaborationwithauthors.

§ Engagementwithschools&teachers.(trainingsessions,workshops,etc.).

§ Sampledistribution.(September)

§ Returnofunsoldstockfromdistributorsaspercontractualagreement.

§ Testpreparationsalesbasedongovernmentvacancyexaminations.

§ Sampledistributionandevaluationbyschools.

§ Printingofbacklistandbestsellertitles.

§ Finalreconciliationandclosureofdistributoraccountsbeforecommencementofseasonsales.

§ Ordervisibility fromschoolsstartsbuildingup.

§ SignificantsalesquarterforHEsegment.

§ Printingoffrontlisttitles.

§ Additionalprintingrunsforbacklist/bestsellertitlesbasedondemand.

§ K-12seasonsalesanddeliverytodistributors/schools.(PeakSeason)

QuarterlyBusinessCycle.

26

76%- 80%RevenuesPeakReceivables

8%- 9%RevenuesPeakInventory

7%- 8%RevenuesNegativeWC

6%- 7%RevenuesNegativeWC

16.3% 19.0% 12.0%

19.5%

33.2%

0%

5%

10%

15%

20%

25%

30%

35%

English Hindi Maths Science Others

K-12:RevenuefromCoreSubjects

Fiscal2017RevenueAnalysis.

37%

34%

14%

14%

1%

North East South West Exports

GroupRevenues:Geography

27

14%

26%

16%

20%

4%

18% 2%

Chhaya SChand Madhubun SaraswatiDigital HE EL

K-12

K-12Revenue:PrimaryvsSecondary

64%

36%

9-12

GroupRevenues:Segmental

K-8

K-12:RevenuefromCoreSubjects

67%revenuefromcoresubjects.

Royalty,6%

Rawmaterial,31%

Publishingexpenses,2%

Employeecosts,17%

Sellinganddistributionexpenses,9%

Otherexpenses,9%

EBIDTA,25%

§ Paperisthekeyrawmaterial,constitutes~22%ofnetrevenues.

§ Royaltycostshavereducedto6%(structuralchange)onaccountoflowerroyaltyfromnewtitlesandincreasingcontributionfromin-housetitles.

§ EBIDTAimpactedbydigitalbusinesswhichisatagrowthstagewithnegative(net)margins.

PositiveImpactOnEbidtaMarginsWithIncreasingContributionofK-12Revenues

Fiscal2017MarginAnalysis.

28

GrossProfitMargin~61%

29

Forfurtherinformation,pleasecontact:

SamirKhuranaGroupHead(Strategy&Investments)SChandAndCompanyLimited

Telephone+911149731800Email:skhurana@schandgroup.com