Chetana Education Ltd(CHETANA)

NSE: CHETANA

₹ 30.25-4.72%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 62 crUpdated: 24 Oct 2026

About

Chetana Education Ltd is an Indian educational book publisher serving K-12 students across CBSE and state board curricula in both print and digital formats, operating as a single business segment. In FY26 the company generated consolidated revenue of INR 109 cr, up 6.5% from INR 102 cr in FY25. It distributes content in six languages across 18 states and internationally in the UAE and Sri Lanka, and claims to be the only K-12 company in India offering an integrated combination of print books, QR-enabled digital content, a school-branded OTT platform, AI-powered teacher tools, and an end-to-end school transformation programme.^[1][2][3]

Business segment

Educational book publishing for CBSE and state board K-12 curriculum in print and digital medium is the company's sole reported segment under AS-17; no segment split is applicable.^[3][4]

Products and brands

The portfolio spans 18+ distinct academic brands including Master Key, YUGA, Firefly Foundation, Little Mee, Creative Connect, BytExpress, QR Series, Grade Me, MHT-CET Series, Code Master, Nine Hats, Bright Buddies, and Pebbles Magazine.^[3]
The QR-enabled book range gives students and teachers access to 35,000+ NEP-aligned educational videos and interactive modules via a dual-QR (theory + solutions) architecture; this product line reached ~15% of consolidated revenue in FY26, up from ~3% at launch.^[3][2]
DOTTSTAR, operated by wholly-owned subsidiary Dijaa Education Private Limited, is described as India's first school-branded, curriculum-integrated OTT platform; it carries content from Physics Wallah (IIT-JEE and NEET, Grades 6 - 12), Aditya Birla Education Trust's Mpower programme, and Chin2 Bhosle's SRGM music education.^[3]
The Smart School Programme (SSP) is a 2-to-3-year institutional partnership bundling textbooks, notebooks, DOTTSTAR OTT access, Books & Beyond AI teacher tools, and Interactive Flat Panels into a single end-to-end school solution.^[3]
Books & Beyond, Chetana's AI-powered teacher platform, was enhanced in FY26 with a Pre-Primary Learning Companion offering lesson plans, rhymes, phonics and interactive activities.^[3]
The company published 700+ titles as of H1FY25 and produced 90 lakh+ books in FY26 (up from 80 lakh+ in FY25).^[5][2][6]
A Stationery Division (notebooks, longbooks, registers) was relaunched targeting school institutional supply; it secured 100+ active orders in its launch phase.^[3][2]
80 new Olympiad titles were added for academic year 2026-27, aligned with the CBSE and Maharashtra State Board syllabus overhaul.^[2]

Operations and infrastructure

Chetana operates a logistics warehouse of 70,000 sq. ft. at Bhiwandi, Maharashtra, and a corporate office of 11,000 sq. ft. at Lower Parel, Mumbai.^[3]
Content is published in six languages - English, Hindi, Marathi, Gujarati, Kannada and Tamil - serving both CBSE and state board schools across 18 states.^[3]
Dijaa Education Private Limited (DOTTSTAR) reported a net loss of INR 49.11 lakh in FY26 as the subsidiary continues to scale.^[3]

Key operating numbers

DOTTSTAR was deployed across 155+ schools in FY26; of these ~75 schools were on the paid model generating net revenue of INR 75 lakhs, with ~80 schools on barter; total DOTTSTAR revenue was ~INR 1 cr (INR 90 - 95 lakhs) in FY26.^[2]
Receivable days rose to ~273 days in FY26 from 238 days in FY25.^[2]
Net Debt/Equity improved to 0.32x in FY26 from 0.43x in FY25, continuing a multi-year deleveraging trend from 1.80x in FY24.^[2][6]
ROE was 15.70% and ROCE was 18.38% in FY26.^[2]
The QR-enabled books revenue share reached ~15% of consolidated revenue in FY26, up from ~3% at product launch.^[2]

Customers and distribution

Active dealer and distributor network stands at 450+ in FY26; the in-house sales team of 250 people reaches 25,000+ schools, coaching classes and dealers pan-India.^[2]
Distribution spans 18 states and union territories via 22 branches and marketing offices, with international presence in the UAE and Sri Lanka.^[7][3]
Management discontinued underperforming geographies Kerala and Hyderabad in FY26 and redirected focus to Tamil Nadu and Karnataka.^[2]

Expansion and pipeline

The Smart School Programme received 5,000+ school proposals in its initial rollout phase in FY26; the company is also in advanced-stage engagement with multiple government institutions and departments.^[2][3]
Chetana secured its first-ever government tender and commenced supply of books to tribal regions across Maharashtra during FY26.^[2]
Future technology initiatives include LMS integration with real-time student performance tracking, AI-powered content personalisation for QR-based resources, and intelligent teacher tools for lesson planning and assessment.^[3]

Recent developments

Maharashtra State Board will change standards 2, 3, 4 and 6 in FY27; CBSE 9th standard changes also come in FY27, followed by further changes in FY28 and FY29, creating a multi-year content refresh cycle.^[2]
No dividend was declared or paid during FY26; management has indicated dividend initiation is planned from FY27 following a planned migration to the main board.^[3][2]
FY26 PAT of INR 13.5 cr was held near flat year-on-year by two one-off items: a government-mandated gratuity provision of ~INR 55 lakhs and startup losses at the Dijaa OTT subsidiary of ~INR 55 lakhs.^[2]

Market Cap

₹62 Cr

High / Low

₹75 / 30

Stock P/E

7.3

Price / Book

1.1

Book Value

₹45

EPS

₹6.6

No. of Shares

2.04 Cr

ROCE

18.9%

ROE

15.7%

OPM

19.0%

Debt / Equity

0.29

Sales

₹109 Cr

Net Profit

₹13 Cr

Promoter holding

74.0%

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