Educational Institutions · Founded 2007 · www.arihantinstitute.com · BSE 541401 · · ISIN INE997Z01016
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Business
Arihant Institute Ltd. operates in the educational institutions sector, primarily focused on providing coaching and training services. Based on its name and industry, the company likely offers preparatory courses for various competitive examinations (e.g., JEE, NEET, UPSC, Banking, CA) and/or academic support for school-level students (K-12). Its core business model revolves around enrolling students in structured programs, either through physical classrooms or online platforms. The company generates revenue by charging tuition fees from enrolled students for these educational services.
Revenue Mix
Without specific financial data, a precise breakdown of key segments or revenue mix is not available. However, typical segments for such an institution in India might include:
Competitive Exam Preparation: Coaching for engineering (JEE), medical (NEET), civil services (UPSC), banking, SSC, and other professional exams.
School-level Coaching: Supplementary classes and test preparation for students from grades 8-12.
Online vs. Offline: Revenue can be segmented by delivery mode – traditional classroom coaching and digital/online learning platforms.
The contribution from each segment would depend on the company's strategic focus and market presence.
Industry
The Indian educational institutions industry, particularly the test preparation and supplementary education segment, is large, highly fragmented, yet also features several organized national and regional players. It is characterized by intense competition, strong demand driven by a large youth population, and increasing parental aspirations. Arihant Institute Ltd. likely positions itself within a specific niche, either geographically (e.g., strong regional presence) or by catering to particular types of competitive exams or academic levels. Its positioning relative to larger national players like Byju's, Aakash, Allen Career Institute, or local institutes would depend on its brand recognition, faculty quality, student outcomes, and pricing strategy.
MOAT
Arihant Institute Ltd.'s potential competitive advantages (moats) may include:
Brand Reputation: A strong reputation built on consistent student success and positive word-of-mouth in specific geographies or for particular exams.
Faculty Quality: High-quality, experienced teachers who can effectively deliver results.
Proprietary Content & Pedagogy: Unique teaching methodologies, curriculum, and study materials that offer an edge.
Student Outcomes: A track record of successful students gaining admissions to desired institutions.
Local Network Effects: A strong presence in certain cities or regions, making it a preferred choice locally.
However, these moats can be challenging to maintain in a competitive and rapidly evolving educational landscape, especially against larger, well-funded ed-tech players.
Growth Drivers
Key factors that could drive Arihant Institute Ltd.'s growth over the next 3-5 years include:
Demographic Dividend: India's large and growing young population, particularly in the school and college-going age groups.
Rising Aspirations: Increasing desire among students and parents for higher education, better jobs, and competitive exam success.
Digitization of Education: Expansion into hybrid learning models and online platforms to reach a wider student base and overcome geographical limitations.
Expansion into New Geographies/Courses: Opening new centers or launching new preparatory courses for emerging exams/professions.
Strategic Partnerships: Collaborations with schools, colleges, or technology providers to enhance offerings.
Risks
Intense Competition: High competition from both established players and new-age ed-tech startups can pressure fees and market share.
Reliance on Student Enrollment: Business performance is directly tied to student admissions, which can be volatile based on exam cycles, economic conditions, and perception.
Faculty Attrition: Difficulty in attracting and retaining high-quality faculty, who are crucial for educational outcomes and reputation.
Regulatory Changes: Changes in education policies, examination patterns, or accreditation norms by government bodies.
Technological Disruption: Rapid advancements in online learning tools and platforms necessitate continuous investment and adaptation.
Reputational Risk: Negative publicity due to poor student results, faculty issues, or operational problems can severely impact enrollment.
Management & Ownership
As is common with many publicly listed Indian companies of this size, Arihant Institute Ltd. is likely promoter-driven, meaning the founding family or individuals hold a significant stake and play a key role in management. The quality of management is crucial in this sector, requiring expertise in curriculum development, faculty management, marketing, and operational efficiency. Specific details on individual management profiles and their track record are not available without further research. The ownership structure would typically involve the promoter group holding a majority stake, with the remaining shares being publicly floated.
Outlook
Arihant Institute operates in a fundamentally growing market driven by strong demand for quality education and competitive exam preparation in India. The company's future performance will largely depend on its ability to effectively scale its operations, maintain high educational standards, attract and retain top faculty, and adapt to the evolving educational landscape, including the increasing penetration of digital learning. The bull case rests on successful expansion, strong student outcomes driving brand reputation, and efficient integration of technology. The bear case involves intense competition, inability to differentiate its offerings, challenges in faculty retention, and adverse regulatory changes, which could impact enrollment and profitability. The educational sector is dynamic, and sustained success requires continuous innovation and a focus on student value.
| #(Fig in Cr.) | Sep 2018 |
|---|---|
| Net Sales | 1 |
| Other Income | 0 |
| Total Income | 1 |
| Total Expenditure | 0 |
| Operating Profit | 1 |
| Interest | 1 |
| Depreciation | 0 |
| Exceptional Income / Expenses | 0 |
| Profit Before Tax | 0 |
| Provision for Tax | 0 |
| Profit After Tax | 0 |
| Adjustments | -0 |
| Profit After Adjustments | 0 |
| Adjusted Earnings Per Share | 0.1 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 4 | 2 | 2 | 2 | 2 | 1 | 0 | 0 | 0 | 0 | 0 | 1 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 4 | 2 | 2 | 2 | 2 | 1 | 0 | 0 | 0 | 0 | 0 | 1 |
| Total Expenditure | 3 | 3 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Profit | 1 | -1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Interest | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 | 0 |
| Profit Before Tax | 0 | -1 | 0 | 0 | 0 | 0 | -0 | -0 | 0 | 0 | 0 | 0 |
| Provision for Tax | -0 | -0 | -0 | 0 | 0 | 0 | -0 | -0 | -0 | -0 | -0 | 0 |
| Profit After Tax | 0 | -1 | 0 | 0 | 0 | 0 | -0 | -0 | 0 | 0 | 0 | 0 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 0 | -1 | 0 | 0 | 0 | 0 | -0 | -0 | 0 | 0 | 0 | 0 |
| Adjusted Earnings Per Share | 0.4 | -14.5 | 0.2 | 0.3 | 0.2 | 0 | -0.1 | -0.1 | 0 | 0 | 0 | 0.1 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 0% | 0% | -100% | -100% |
| Operating Profit CAGR | 0% | 0% | 0% | -100% |
| PAT CAGR | 0% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 0% | -10% | 1% | NA% |
| ROE Average | 0% | 0% | -0% | 1% |
| ROCE Average | 0% | 0% | -0% | 0% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 0 | -1 | 4 | 6 | 14 | 14 | 14 | 13 | 13 | 14 | 14 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 4 | 5 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
| Total Current Liabilities | 3 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Total Liabilities | 7 | 6 | 6 | 7 | 15 | 15 | 14 | 14 | 14 | 14 | 14 |
| Fixed Assets | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 2 | 2 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 7 | 7 | 7 | 7 | 7 | 7 | 7 |
| Total Current Assets | 4 | 2 | 3 | 4 | 5 | 5 | 5 | 5 | 5 | 5 | 5 |
| Total Assets | 7 | 6 | 6 | 7 | 15 | 15 | 14 | 14 | 14 | 14 | 14 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow from Operating Activities | -1 | -1 | -0 | -1 | -2 | -0 | -0 | 0 | 0 | -0 | 0 |
| Cash Flow from Investing Activities | -2 | -0 | 0 | -0 | -5 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow from Financing Activities | 3 | 1 | -0 | 1 | 7 | 0 | -0 | -0 | -0 | 0 | 0 |
| Net Cash Inflow / Outflow | -0 | 0 | -0 | -0 | 0 | -0 | -0 | 0 | 0 | 0 | 0 |
| Closing Cash & Cash Equivalent | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0.38 | -14.45 | 0.19 | 0.26 | 0.18 | 0.04 | -0.12 | -0.13 | 0.03 | 0.04 | 0.02 |
| CEPS(Rs) | 2.19 | -12.64 | 0.49 | 0.51 | 0.3 | 0.18 | 0.01 | 0.04 | 0.19 | 0.13 | 0.06 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | -0.66 | -15.11 | 6 | 8.42 | 14.51 | 14.54 | 14.42 | 14.29 | 14.32 | 14.36 | 14.37 |
| Core EBITDA Margin(%) | 21.99 | -51.33 | 31.54 | 21.62 | 17.46 | 30.72 | 2.06 | 62.66 | 64.84 | -234.48 | 26.76 |
| EBIT Margin(%) | 17.3 | -62.16 | 20.84 | 12.07 | 10.67 | 7.27 | -411.97 | -1017.04 | 3.18 | 25.51 | 41.43 |
| Pre Tax Margin(%) | 0.8 | -87.86 | 6.61 | 10.3 | 10.38 | 6.9 | -414.07 | -1020.69 | 2.46 | 24.45 | 28.72 |
| PAT Margin (%) | 0.98 | -86.48 | 6.66 | 9.59 | 9.5 | 6.23 | -374.84 | -829.54 | 31.06 | 41.16 | 35.96 |
| Cash Profit Margin (%) | 5.67 | -75.65 | 17.36 | 19.14 | 16.29 | 29.69 | 39.19 | 250.16 | 198.29 | 155.94 | 142.09 |
| ROA(%) | 0.54 | -22.15 | 1.94 | 2.62 | 1.5 | 0.24 | -0.79 | -0.84 | 0.19 | 0.23 | 0.11 |
| ROE(%) | 0 | 0 | 10.79 | 3.73 | 1.71 | 0.26 | -0.85 | -0.9 | 0.21 | 0.25 | 0.11 |
| ROCE(%) | 12.62 | -21 | 7.67 | 4.06 | 1.89 | 0.3 | -0.92 | -1.09 | 0.02 | 0.15 | 0.13 |
| Receivable days | 204.45 | 356.6 | 322.59 | 444.35 | 702.99 | 2682.88 | 0 | 0 | 0 | 0 | 0 |
| Inventory Days | 23.76 | 13.32 | 12.4 | 10.3 | 12.19 | 39.23 | 638.08 | 1342.39 | 202.11 | 113.58 | 38.36 |
| Payable days | 145.74 | 168.52 | 2353.09 | 1181.6 | 215.09 | 446.89 | 4956.37 | 0 | 4715.25 | 1117.2 | 0 |
| PER(x) | 0 | 0 | 0 | 0 | 84.42 | 0 | 0 | 0 | 0 | 0 | 0 |
| Price/Book(x) | 0 | 0 | 0 | 0 | 1.03 | 0 | 0.14 | 0 | 0 | 0 | 0 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 1.66 | 4.09 | 4.19 | 3.92 | 7.95 | 16.72 | 62.85 | 648.93 | 105.84 | 118.51 | 224.02 |
| EV/Core EBITDA(x) | 7.54 | -7.98 | 13.29 | 18.15 | 45.55 | 54.43 | 3046.8 | 1035.68 | 62.11 | 59.45 | 151.82 |
| Net Sales Growth(%) | -36.8 | -56.65 | 1.26 | 7.59 | -4.01 | -67.57 | -94.57 | -52.47 | 508.16 | -8.73 | -47.08 |
| EBIT Growth(%) | 153.83 | -255.74 | 133.95 | -37.67 | -15.17 | -77.92 | -407.86 | -17.35 | 101.9 | 632.65 | -14.06 |
| PAT Growth(%) | 102.59 | -3909.16 | 107.8 | 54.78 | -4.86 | -78.72 | -426.44 | -5.19 | 122.77 | 20.95 | -53.76 |
| EPS Growth(%) | 102.59 | -3909.16 | 101.3 | 35.97 | -30.92 | -78.7 | -426.06 | -5.22 | 122.79 | 20.75 | -53.8 |
| Debt/Equity(x) | 18.09 | -4.85 | 0.31 | 0.06 | 0 | 0.01 | 0.01 | 0.01 | 0 | 0.02 | 0.02 |
| Current Ratio(x) | 1.39 | 1.52 | 1.86 | 2.89 | 4 | 5.17 | 5.27 | 5.26 | 5.34 | 5.7 | 6.2 |
| Quick Ratio(x) | 1.37 | 1.48 | 1.82 | 2.86 | 3.94 | 5.11 | 5.21 | 5.2 | 5.29 | 5.69 | 6.19 |
| Interest Cover(x) | 1.05 | -2.42 | 1.46 | 6.82 | 36.82 | 19.61 | -195.69 | -278.93 | 4.42 | 24.06 | 3.26 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0.06 | 0 | 0 | 0 | 0 |
| # | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 40.08 | 40.08 | 40.08 | 40.08 | 31.72 | 31.72 | 31.72 | 31.72 | 31.72 | 31.72 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 59.92 | 59.92 | 59.92 | 59.92 | 68.28 | 68.28 | 68.28 | 68.28 | 68.28 | 68.28 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.38 | 0.38 | 0.38 | 0.38 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.56 | 0.56 | 0.56 | 0.56 | 0.64 | 0.64 | 0.64 | 0.64 | 0.64 | 0.64 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.94 | 0.94 | 0.94 | 0.94 | 0.94 | 0.94 | 0.94 | 0.94 | 0.94 | 0.94 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | — | — | -100% | -100% |
| Operating Profit CAGR | — | — | — | -100% |
| PAT CAGR | — | — | — | — |
| Share Price CAGR | 0% | -10% | +1% | — |
| ROE Average | 0% | 0% | 0% | +1% |
| ROCE Average | 0% | 0% | 0% | 0% |
| # | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 40.08 | 40.08 | 40.08 | 40.08 | 31.72 | 31.72 | 31.72 | 31.72 | 31.72 | 31.72 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 59.92 | 59.92 | 59.92 | 59.92 | 68.28 | 68.28 | 68.28 | 68.28 | 68.28 | 68.28 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.38 | 0.38 | 0.38 | 0.38 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.56 | 0.56 | 0.56 | 0.56 | 0.64 | 0.64 | 0.64 | 0.64 | 0.64 | 0.64 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.94 | 0.94 | 0.94 | 0.94 | 0.94 | 0.94 | 0.94 | 0.94 | 0.94 | 0.94 |
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