Arihant Academy Limited (ARIHANTACA)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Arihant Academy's revenue was ₹22.0 Cr (+27.6% year on year, +40.3% on the previous quarter), and net profit ₹2.1 Cr (+4.7% year on year); the operating margin was 16.2%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹22.0 | +27.6% | +40.3% |
| Operating profit | ₹3.6 | +50.5% | -32.1% |
| Net profit | ₹2.1 | +4.7% | -38.2% |
| EPS (₹) | 3.39 | +4.6% | -38.1% |
| Operating margin | 16.2% | — | — |
📢 Recent Corporate Announcements
Arihant Academy Limited's Board of Directors has approved the allotment of 60,55,200 fully paid-up equity shares of face value Rs 10 each as bonus shares. The bonus issue is in the ratio of 1:1 (one new share for every existing share held). The record date for determining eligible shareholders was October 01, 2026. This doubles the total outstanding share base of the company from 60.55 lakh shares to 1.21 crore shares.
- Approved allotment of 60,55,200 fully paid-up equity shares of Rs 10 face value.
- Bonus issue ratio executed at 1:1 (1 new share for every 1 existing share).
- Record date for allotment fixed as October 01, 2026.
- Board meeting commenced at 10:00 a.m. IST and concluded at 10:08 a.m. IST on October 05, 2026.
Arihant Academy Limited has fixed Thursday, October 01, 2026, as the record date for determining shareholder eligibility for its upcoming bonus equity share issuance. The company currently holds an equity share paid-up face value of Rs 10 each. Arihant Academy has a market capitalization of Rs 285 Cr, with TTM revenue of Rs 67 Cr and TTM net profit of Rs 9 Cr. The specific bonus ratio was not disclosed in this filing.
- Record date fixed as October 01, 2026 for bonus issue entitlement
- Applicable to equity shares with paid-up face value of Rs 10 each
- Specific bonus issue ratio not disclosed in the current intimation
Arihant Academy Limited announced that shareholders approved all 5 resolutions at its Annual General Meeting held on September 19, 2026. Approved items include the adoption of FY 2025-26 financial statements, declaration of a final dividend of Rs 2.00 per share (20%), and capitalization of reserves for a bonus share issue. A total of 38,01,000 shares voted, representing 62.77% of total voting shares, with 100% approval on the dividend and bonus issue resolutions.
- Shareholders approved a final dividend of Rs 2.00 per equity share (20%) for FY 2025-26 with 100% votes in favor
- Passed ordinary resolution for capitalization of reserves and issue of bonus shares with 100% votes in favor
- Approved increase in the Authorized Share Capital of the company with 38,01,000 votes in favor (100%)
- Total voter turnout was 62.7725% of total shares, covering 38,01,000 shares across 6 voting shareholders
Arihant Academy Limited conducted its 19th Annual General Meeting on September 19, 2026. Shareholders considered key ordinary and special business items, including the declaration of a final dividend of Rs 2.00 per share (20%) for FY 2025-26. Additionally, resolutions regarding an increase in authorized share capital and capitalization of reserves for a bonus share issue were placed before members. Voting was conducted via physical ballot for attendees as the company is exempt from e-voting on the NSE Emerge platform.
- 19th Annual General Meeting concluded on September 19, 2026
- Approval sought for a final dividend of Rs 2.00 per equity share (20%) for FY 2025-26
- Resolutions placed to increase authorized share capital and issue bonus shares via reserve capitalization
- Cut-off date for member voting eligibility was September 11, 2026
Arihant Academy Limited has fixed Friday, September 11, 2026, as the record date to determine shareholder eligibility for its final dividend for FY 2025-26. The specific dividend amount per share was not stated in this intimation. The announcement follows a strong FY26 performance where the company reported net profit of Rs 9.10 Cr on revenue of Rs 61.96 Cr.
- Record date fixed as Friday, September 11, 2026
- Purpose is determining entitlement for final dividend for FY 2025-26
- Intimation submitted pursuant to Regulation 42 of SEBI LODR Regulations, 2015
Arihant Academy Limited has submitted its Annual Report for FY 2025-26 and issued notice for its 19th Annual General Meeting scheduled for September 19, 2026. The annual report highlights an operational footprint of 40 centres across Maharashtra, Gujarat, and Rajasthan, supported by 600+ staff. During the academic year, the company catered to 15,000+ students, taking its cumulative student reach to over 1,90,000. For FY26, the company posted a net profit of ₹9.10 crore on revenues of ₹61.96 crore.
- 19th Annual General Meeting scheduled for September 19, 2026, in Mumbai
- Active network of 40 total operating centres across 3 states (Maharashtra, Rajasthan, Gujarat)
- Catered to 15,000+ students in the current year, reaching a cumulative 1,90,000+ students
- Staff strength reported at 600+ teaching and non-teaching personnel
Arihant Academy's board has approved a 1:1 bonus issue, which will double the company's share capital by capitalizing ₹6.06 Cr from its ₹27.49 Cr reserves. For Q1 FY27, the company reported a consolidated revenue of ₹22.00 Cr, representing a 27.5% growth over the ₹17.25 Cr reported in Q1 FY26. Net profit for the quarter stood at ₹2.05 Cr, compared to ₹1.96 Cr in the previous year's corresponding quarter. The results now include Zen Education and Learning as a 51% subsidiary, following an additional stake acquisition effective April 1, 2026.
- Approved 1:1 bonus issue, issuing 60,55,200 new equity shares of ₹10 each
- Consolidated Q1 FY27 revenue increased to ₹22.00 Cr from ₹17.25 Cr YoY
- Capitalizing ₹6.06 Cr from a total available reserve of ₹27.49 Cr (as of March 2026)
- Authorized share capital increased from ₹10.00 Cr to ₹12.50 Cr to accommodate the bonus
- Zen Education and Learning became a subsidiary (51% stake) effective April 1, 2026
Arihant Academy reported a 27.5% YoY increase in consolidated revenue to ₹22.00 Cr for Q1 FY27. The Board has approved a 1:1 bonus issue, which will double the paid-up share capital to ₹12.11 Cr by capitalizing ₹6.06 Cr from reserves. Net profit grew more modestly by 4.7% YoY to ₹2.05 Cr, impacted by a significant rise in 'other expenses' to ₹15.83 Cr. Additionally, the company consolidated Zen Education and Learning as a 51% subsidiary starting this quarter, which contributed to the revenue jump but makes direct YoY comparisons difficult.
- Consolidated revenue from operations increased 27.5% YoY to ₹22.00 Cr in Q1 FY27.
- Board approved a 1:1 bonus issue, doubling the total equity shares to 1,21,10,400.
- Zen Education and Learning became a 51% subsidiary effective April 1, 2026, up from a 25.5% associate stake.
- Free reserves and security premium available for capitalization stand at ₹27.49 Cr as of March 31, 2026.
- Net profit for the quarter stood at ₹2.05 Cr compared to ₹1.96 Cr in the same quarter last year.
Arihant Academy Limited has announced the opening of its second study center in Chembur (East), Mumbai, as part of its geographic expansion strategy. The company currently operates over 30 coaching centers serving approximately 10,000 students across Maharashtra and Gujarat. This new facility will offer a comprehensive range of courses, including K-12 coaching, competitive exam prep (JEE/NEET), and professional certifications like CA and Fintech. While incremental, this expansion supports the company's stated 35% expected growth rate and leverages its high ROCE of 42.7%.
- Launched the 2nd branch in Chembur (East), Mumbai, to strengthen presence in the Mumbai Metropolitan Region.
- Company currently operates a network of 30+ strategically located coaching centers.
- Serves a total student base of approximately 10,000 students through a hybrid teaching model.
- Offers diverse coaching segments including State/ICSE/CBSE boards, IIT-JEE, NEET, CA, CS, and Fintech courses.
- Expansion aligns with the company's target growth rate of 35% and recent entry into the Ahmedabad market.
Financial Performance
Revenue Growth by Segment
The company operates in a single segment: coaching services. Total revenue grew by 34.93% YoY, reaching INR 42.58 Cr in FY 2024-25 compared to INR 31.55 Cr in FY 2023-24. For H1 FY 2025-26, revenue from operations stood at INR 32.33 Cr, representing approximately 76% of the previous full year's revenue.
Geographic Revenue Split
The company primarily operates in India, specifically in Maharashtra and Rajasthan. It recently expanded into Gujarat (Ahmedabad) through an MOU with Nankani’s Education Service LLP. Specific percentage splits per state are not disclosed, but the company is actively diversifying its geographic footprint.
Profitability Margins
Net Profit Margin improved significantly to 10.96% in FY 2024-25 from 5.11% in FY 2023-24. This 114.48% increase in margin was driven by higher turnover and operational efficiencies during the expansion phase.
EBITDA Margin
EBITDA grew by 124.04% YoY to INR 7.78 Cr in FY 2024-25 from INR 3.47 Cr. Operating Profit Margin increased to 14.14% in FY 2024-25 from 5.94% in FY 2023-24, a growth of 138.05% due to the scaling of operations.
Capital Expenditure
The company is in an aggressive expansion phase, with INR 8.53 Cr spent on Property, Plant, and Equipment (PPE) and Intangible Assets in H1 FY 2025-26 alone, compared to INR 2.66 Cr in the previous half-year period.
Credit Rating & Borrowing
The company maintains a low debt profile with a Debt-Equity Ratio reported as NA or negligible. Finance costs for FY 2024-25 were minimal at INR 0.026 Cr (2.60 Lakhs), indicating very low reliance on external debt.
Operational Drivers
Raw Materials
As a service-oriented coaching business, traditional raw materials are not applicable. The primary operational cost is Employee Benefit Expenses, which amounted to INR 7.46 Cr in FY 2024-25, representing 17.5% of total income.
Import Sources
Not applicable as the company provides educational services. Procurement is localized within India for office and center maintenance.
Key Suppliers
Not applicable for the service model; however, the company collaborates with NSE Academy Limited for specialized certificate programs.
Capacity Expansion
The company is expanding its physical presence with new branches capitalized during FY 2024-25. It recently entered the Ahmedabad market to launch FinTech and Analytics programs, though specific unit/seat capacity is not disclosed.
Raw Material Costs
Direct material costs are negligible. The focus is on human capital and infrastructure. Employee costs increased from INR 3.43 Cr in FY 2023-24 to INR 7.46 Cr in FY 2024-25 to support growth.
Manufacturing Efficiency
Efficiency is measured by the Net Capital Turnover Ratio, which was 1.58% in FY 2024-25, down from 2.76% in FY 2023-24, reflecting the heavy capital investment in new, yet-to-be-fully-utilized branches.
Logistics & Distribution
Distribution is handled through physical coaching centers and digital platforms. Costs are part of the expansionary capital and operating expenditure.
Strategic Growth
Expected Growth Rate
35%
Growth Strategy
Growth is driven by geographic expansion into Gujarat and Rajasthan, the launch of new specialized courses like the Certificate Program in Financial Technology and Analytics in association with NSE Academy, and inorganic growth through associates like Zen Education and Learning (25.5% stake).
Products & Services
Coaching services for competitive exams and professional certifications, including the Certificate Program in Financial Technology and Analytics.
Brand Portfolio
Arihant Academy.
New Products/Services
Certificate Program in Financial Technology and Analytics launched in late 2025. This program marks an entry into professional fintech education with expected high-margin contributions.
Market Expansion
Expansion into Ahmedabad, Gujarat (Nov 2025) and ongoing scaling in Rajasthan and Maharashtra.
Market Share & Ranking
Not disclosed, but the company is a listed SME player on the NSE EMERGE platform.
Strategic Alliances
MOU with Nankani’s Education Service LLP and collaboration with NSE Academy Limited (a subsidiary of National Stock Exchange of India).
External Factors
Industry Trends
The coaching industry is shifting toward specialized professional certifications (FinTech, Analytics) and hybrid learning models. Arihant is positioning itself by partnering with NSE Academy to capture this high-growth niche.
Competitive Landscape
Competes with both local unorganized coaching centers and large national test-prep companies.
Competitive Moat
The moat is built on brand recognition in the coaching sector and strategic institutional tie-ups (NSE Academy), which are difficult for smaller local players to replicate. Sustainability is supported by a 22.90% ROCE.
Macro Economic Sensitivity
Highly sensitive to domestic economic conditions and employment trends that drive demand for professional coaching and competitive exam preparation.
Consumer Behavior
Increasing preference for industry-aligned certifications over traditional coaching, prompting the company's shift toward FinTech and Analytics.
Geopolitical Risks
Low, as the business is focused on the Indian domestic education market.
Regulatory & Governance
Industry Regulations
Subject to local state regulations governing private coaching institutes and the Companies Act, 2013. CSR provisions became applicable in FY 2025-26.
Environmental Compliance
Not applicable for educational services; ESG focus is primarily on CSR and social betterment.
Taxation Policy Impact
Current tax expense for H1 FY 2025-26 was INR 1.49 Cr. The company is subject to standard Indian corporate tax rates.
Legal Contingencies
The company has a pending litigation as of March 31, 2025. Additionally, it received a monetary claim from a third party on December 13, 2025, which is currently under legal review but deemed non-material to operations at present.
Risk Analysis
Key Uncertainties
Regulatory changes in the coaching industry and the success of geographic expansion into Gujarat represent key uncertainties with a potential 10-20% impact on projected growth.
Geographic Concentration Risk
High concentration in Maharashtra, though expanding into Rajasthan and Gujarat to mitigate this risk.
Third Party Dependencies
Dependency on NSE Academy for the new FinTech program and Nankani’s Education Service LLP for the Ahmedabad expansion.
Technology Obsolescence Risk
Risk of digital-only platforms disrupting physical coaching centers; mitigated by the company's own digital initiatives and specialized course offerings.
Credit & Counterparty Risk
Trade receivables stood at INR 2.22 Cr in H1 FY 2025-26. Debtors Turnover Ratio was 97.23% in FY 2024-25, indicating efficient collection but a slight decline from 127.50% in the previous year.
