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Aptech Ltd
NSE: APTECHT BSE: 532475 INE266F01018 Consumer Discretionary Other Consumer Services 🔎 Screen
₹558 Cr
Market Cap
23.7
P/E
1.59
PEG
15.3%
ROCE
10.1%
ROE
0.05
D/E
6.5%
OPM
-13.5%
% from 52W High
23
α RS
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📈 Price History
Ratio Health
Excellent
Good
Average
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By Category
Shareholding
About

Aptech Ltd. is a pioneer in the non-formal education and training business in the country with a significant global presence. It was established in 1986 and has 800 centers. It has a presence in diverse sectors ranging from IT training, media & entertainment, retail & aviation, beauty & wellness, banking & finance, and pre-school segment amongst others. It has successfully trained students, professionals, universities & corporates through its two main streams of business - Individual Training and Enterprise Business Group

✓ Strengths 4
  • Company is almost debt free.
  • Stock is providing a good dividend yield of 4.78%.
  • Company has been maintaining a healthy dividend payout of 113%
  • Company's working capital requirements have reduced from 92.3 days to 55.6 days
! Concerns

No concerns data yet.

Key Ratios Snapshot
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📈 Growth Pattern
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Weak quarter: retail segment (73% of revenue) declined 21% YoY, dragging consolidated EBITDA margin to just 2.63% from 6.56% YoY; institutional segment surged 93% YoY but from a low base and contributed only 27% of revenue. quarter Investor Presentation One-Pager? Mar 2026
Revenue
₹111.0 Cr
-6.5% YoY (Q4 FY25: ₹118.7 Cr); full-year FY26 at ₹503.4 Cr (+9% YoY)
EBITDA Margin
2.63%
-393 bps YoY (Q4 FY25: 6.56%); full-year margin 6.26% vs 6.30% (flat)
PAT
₹1.78 Cr
-64% YoY (Q4 FY25: ₹4.95 Cr); full-year PAT ex. exceptional ₹26.13 Cr (+32% YoY)
Key Metric
Retail Rev -21% YoY
Retail segment revenue fell to ₹81.5 Cr from ₹103.4 Cr; EBIT dropped 32% to ₹10.3 Cr
What Went Right
  • Institutional segment revenue surged 93% YoY to ₹29.5 Cr, turning EBIT positive at ₹0.34 Cr vs -₹0.91 Cr in Q4 FY25.
  • Full-year FY26 revenue grew 9% YoY to ₹503.4 Cr, supported by 225% institutional growth to ₹114.2 Cr.
  • Company maintained debt-free balance sheet with cash & equivalents of ₹198.4 Cr as of Mar 2026.
  • Dividend per share maintained at ₹4.5 for FY26, implying ~111% payout ratio on reported EPS of ₹4.06.
What to Watch
  • Retail revenue declined 21% YoY to ₹81.5 Cr, indicating enrollment slowdown or franchisee stress; no explanation provided for the drop.
  • Consolidated EBITDA margin plunged to 2.63% from 6.56% YoY – the lowest in recent quarters, driven by retail margin compression.
  • Reported net profit fell 64% YoY to ₹1.78 Cr, with EPS sliding to ₹0.31 from ₹0.85.
  • International retail revenue (part of Retail segment) remained flat at ~₹31.3 Cr for full year; no breakout for Q4 but trend suggests no recovery.
  • Operating expenses remained high at 97.4% of revenue vs 93.4% in Q4 FY25, showing lack of cost control.
Investor Lens
The Q4 FY26 results materially weaken the investment thesis. While the institutional business turned positive and grew sharply, it remains a fraction of total revenue (27%). The core retail franchise engine – which drives valuation – stalled with a 21% revenue decline and margin erosion. Management cited no specific remedial actions, and the ‘CSAT-driven’ and ‘AI-aligned’ strategy appears insufficient to reverse near-term trends. Full-year EBITDA margins (6.26%) stayed flat vs FY25 (6.30%), far below FY23’s 17% peak. With 570 domestic centres but declining per-centre revenue, franchisee economics are likely under pressure. Next quarter’s watch items: retail enrolment numbers, centre additions/closures, international currency headwinds (Nigeria, Egypt), and any guidance on margin recovery. The generous dividend payout (111% of reported EPS) on declining earnings may also raise sustainability questions.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Aptech PAT up 13.7% YoY on 11% revenue growth; margins expand
Revenue
Revenue for Jun 2026 quarter came in at ₹133.8 Cr, up 11.1% YoY from ₹120.4 Cr and 20.5% sequentially. The YoY growth indicates steady demand in the consumer discretionary education space.
Profitability
Net profit rose 13.7% YoY to ₹7.7 Cr, with EPS improving to ₹1.32 from ₹1.16. PBT stood at ₹10.3 Cr, aided by other income of ₹3.8 Cr, while tax rate was 25.83%.
Margins
Operating profit margin improved to 6.81% from 6.09% YoY, a gain of 72 bps. Operating profit grew 24.3% YoY to ₹9.1 Cr, reflecting better operating leverage.
Key Risks
Other income of ₹3.8 Cr is significant versus operating profit of ₹9.1 Cr, making PAT partly dependent on non-operating items. OPM at 6.81% remains thin, leaving limited cushion against input cost or demand shocks. Sequential EPS jump is partly from a low base.
Outlook
With revenue growth and margin expansion, the company appears to be on a recovery path. Sustained demand and further operating leverage will be key to maintaining profitability.
Generated by AI · Jun 2026 results · Not investment advice
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Revenue by Segment

Segment Q3FY26 Q4FY26 Trend
Exceptional item
0
EBIT 0
0
EBIT 0
Institutional
35
EBIT 3
30
EBIT 0
Retail
102
EBIT 17
81
EBIT 10
Total 137 111

Source: NSE Integrated Filing XBRL (Reg. 33 Ind AS). Values in ₹ Crore.

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📊 Analysis Methodology

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