NIIT Learning Systems Limited (NIITMTS)
₹199.13 -0.08% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, NIIT Learning's revenue was ₹565 Cr (+25.2% year on year, +7.6% on the previous quarter), and net profit ₹57.4 Cr (+16.4% year on year); the operating margin was 16.5%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹565 | +25.2% | +7.6% |
| Operating profit | ₹93.0 | +2.8% | +6.1% |
| Net profit | ₹57.4 | +16.4% | -25.5% |
| EPS (₹) | 4.17 | +15.2% | -25.7% |
| Operating margin | 16.5% | — | — |
NIITMTS delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 53.15% of the NIITMTS shares traded on NSE were taken to delivery, against the stock's own 20-session average of 53.91%. That is close to its usual level. Turnover was only ₹92 lakh, so a handful of trades can move this figure. Volume was 0.2 times its average, well below normal.
Delivery in the last 5 sessions: 58.9% · 56.2% · 62.3% · 59.0% · 53.1%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
NIIT Learning Systems Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate, issued by Registrar and Transfer Agent KFin Technologies Limited, confirms procedural compliance. During the quarter, the company received 0 dematerialization requests and 0 rematerialization requests.
- Compliance certificate submitted for the quarter ended September 30, 2026
- 0 dematerialization requests received during the quarter
- 0 rematerialization requests received during the quarter
- Confirmed by Registrar and Transfer Agent KFin Technologies Limited
NIIT Learning Systems Limited has allotted 1,58,668 equity shares of face value Rs. 2/- each on September 18, 2026. The allotment was approved by the Share Allotment Committee pursuant to the exercise of options under the Employee Stock Option Plan 2023-0. The company will file the listing application with BSE and NSE to obtain trading approvals for the newly issued shares.
- Allotment of 1,58,668 equity shares of face value Rs. 2/- each
- Issued pursuant to NIIT Learning Systems Limited Employee Stock Option Plan 2023-0
- Allotment approved by the Share Allotment Committee on September 18, 2026
- Application for listing and trading approvals to be filed with BSE and NSE shortly
NIIT Learning Systems Limited has scheduled meetings with investors and analysts at the Anand Rathi G-200 Summit 2026 on September 22, 2026, in Mumbai. The company will be represented by Executive Director & CEO Sapnesh Kumar Lalla and Head of M&A and IR Kapil Saurabh. The interactions will involve 1-on-1 and group meetings between 10:00 A.M. and 1:00 P.M. The company confirmed that no unpublished price sensitive information (UPSI) will be shared.
- Investor meeting scheduled for September 22, 2026, from 10:00 A.M. to 1:00 P.M.
- Participation at the Anand Rathi G-200 Summit 2026 in Mumbai
- Format includes 1*1 and group meetings in-person
- No Unpublished Price Sensitive Information (UPSI) will be discussed
NIIT Learning Systems unveiled its 'Vision 2032' at its Investor Day, targeting $600 million in revenue with a sustained EBITDA margin of over 20%. The company reported contracted revenue visibility of $462 million from existing clients and an expansion to 113+ annuity customers as of June 30, 2026. The balance sheet remains solid with net cash of ₹736.4 crore as of Q1 FY27, which management plans to deploy into technology, talent, and programmatic acquisitions. Existing full-year operational guidance remains unchanged.
- Targets $600 million in long-term revenue under Vision 2032 with EBITDA margins above 20%
- Reported $462 million in contracted revenue visibility from 113 annuity customers as of June 30, 2026
- Net cash stood at ₹7,364 million (₹736.4 crore) as of June 30, 2026, backing inorganic and AI investments
- Customer base grew with 21 new annuity clients added in FY26 and 3 new clients added in Q1 FY27
- Current year financial guidance reiterated with no changes announced
NIIT Learning Systems Limited concluded its 24th Annual General Meeting on September 9, 2026, where members approved all 9 proposed resolutions with the requisite majority. Out of 13,80,02,783 total equity shares, 8,86,22,370 votes (64.22% turnout) were polled. Approved items include the adoption of FY26 financial statements, declaration of dividend, re-appointment of directors, and executive remuneration terms in the event of profit inadequacy. Notably, 16.96% of institutional votes were cast against the CEO remuneration resolution, though it passed comfortably overall with 93.55% total support.
- Overall voter turnout stood at 64.2178% with 8,86,22,370 votes polled across 13,80,02,783 total shares
- Special resolution for CEO Sapnesh Kumar Lalla's remuneration passed with 93.55% overall approval, despite 16.96% public institutional dissent (57,18,079 votes against)
- Remuneration terms for Vice-Chairman & MD Vijay Kumar Thadani passed with 99.99% overall approval
- All 9 ordinary and special resolutions, including dividend declaration and FY26 accounts adoption, were approved
NIIT Learning Systems Limited completed its 24th Annual General Meeting on September 9, 2026, conducted via video conferencing. A total of 9 ordinary and special resolutions were placed before shareholders, including dividend approval, director re-appointments, and managerial remuneration terms. Statutory and Secretarial audit reports had no qualifications or adverse remarks. The final voting results and Scrutinizer's Report will be disclosed following the meeting.
- 24th AGM held on September 9, 2026, starting at 12:30 P.M. and concluding at 13:50 P.M. IST
- 9 total resolutions placed before members across ordinary and special business
- Remote e-voting window was open from September 4, 2026 (9:00 A.M.) to September 8, 2026 (5:00 P.M.)
- Approval sought for continuation of directorship of Chairman Rajendra Singh Pawar upon attaining 75 years of age
- Auditor reports from statutory and secretarial auditors contained zero qualifications or adverse remarks
NIIT Learning Systems Limited announced that its step-down wholly owned subsidiary, MST Holding GmbH (Germany), has approved the voluntary dissolution and winding up of MST Shanghai Co. Limited effective August 31, 2026. MST Shanghai was acquired as part of the MST Investment Holding GmbH acquisition on July 9, 2025, and has remained an inoperative entity since then. The company confirmed that the closure is aimed at streamlining its corporate structure and will have no material impact on operations or financial statements.
- Voluntary dissolution of MST Shanghai Co. Limited initiated effective August 31, 2026.
- MST Shanghai remained an inoperative entity since its acquisition on July 9, 2025.
- No material financial or operational impact on NIIT Learning Systems Limited.
- Move intended solely to simplify corporate holding structure and reduce administrative overhead.
NIIT Learning Systems Limited (NIITMTS) announced that company representative Mr. Kapil Saurabh (Head M&A & Investor Relations) will participate in investor meetings at the Ashwamedh - Elara India Dialogue 2026. The in-person 1-on-1 and group meetings are scheduled for September 2, 2026, from 10:00 A.M. to 1:00 P.M. in Mumbai. The company confirmed that no unpublished price sensitive information (UPSI) will be discussed, and existing presentation materials are available on its website.
- Meeting scheduled for September 2, 2026, between 10:00 A.M. and 1:00 P.M.
- Participation in Ashwamedh - Elara India Dialogue 2026 in Mumbai (in-person)
- Format includes 1-on-1 and group institutional investor meetings
- Company confirmed no Unpublished Price Sensitive Information (UPSI) will be shared
NIIT Learning Systems Limited has announced it will host its Investor Day, themed 'Building the AI-Ready L&D Enterprise', on September 10, 2026, from 4:00 P.M. to 7:30 P.M. IST. The event will take place in Mumbai with a virtual option and will feature key leadership including the Vice Chairman & MD, CEO, and CFO. The company confirmed that no unpublished price-sensitive information will be shared and that presentation materials will be made available on its website.
- Investor Day scheduled for September 10, 2026, from 4:00 P.M. to 7:30 P.M.
- Theme: 'Building the AI-Ready L&D Enterprise' targeting institutional investors and analysts
- Key management attendees include MD Vijay Kumar Thadani, CEO Sapnesh Kumar Lalla, and CFO Sanjay Mal
- Format is hybrid (In-Person in Mumbai + Virtual)
NIIT Learning Systems Limited announced that it has earned a total of 114 Brandon Hall Group HCM Excellence Awards for 2026 jointly with its enterprise clients. The award tally comprises 90 awards won by NIIT Learning (28 Gold, 27 Silver, and 35 Bronze) and 24 awards won by SweetRush (17 Gold and 7 Silver), which was acquired in January 2026. Key client partnerships recognized include IBM, Shell, ServiceNow, Medtronic, and Uber across corporate learning and AI-powered workforce solutions.
- Earned 114 total Brandon Hall Group HCM Excellence Awards in 2026 jointly with corporate clients
- NIIT Learning won 90 awards comprising 28 Gold, 27 Silver, and 35 Bronze
- SweetRush, acquired in January 2026, won 24 awards comprising 17 Gold and 7 Silver
- Awards recognize joint projects with enterprise clients including IBM, ServiceNow, Shell, Medtronic, and Uber
NIIT Learning Systems has issued the notice for its 24th Annual General Meeting (AGM) scheduled for September 9, 2026, along with its FY26 Annual Report. Key agenda items include the adoption of FY26 financial statements, dividend declaration, and re-appointment/continuation of key directors including Chairman Rajendra Singh Pawar. The cut-off date for e-voting eligibility is September 2, 2026, with remote e-voting running from September 4 to September 8, 2026.
- 24th AGM scheduled for September 9, 2026 at 12:30 PM IST via VC/OAVM
- Shareholder voting cut-off date set for September 2, 2026
- Remote e-voting open from September 4, 2026 (9:00 AM) to September 8, 2026 (5:00 PM)
- Special resolutions include continuation of directorship of Chairman Rajendra Singh Pawar and approval of MD Vijay Kumar Thadani remuneration up to Rs 24,000,000 per annum in case of inadequate profits
NIIT Learning Systems (NIITMTS) has scheduled an in-person investor interaction at the Emkay Confluence 2026 in Mumbai on August 13, 2026. The company will be represented by its CFO and Head of M&A for 1-on-1 and group meetings. This follows a fiscal year (FY26) where the company reported revenue of ₹1,952 cr and maintained an operating margin of 18.8%. No unpublished price-sensitive information is expected to be shared during these sessions.
- Investor meeting scheduled for August 13, 2026, between 9:00 A.M. and 5:00 P.M.
- Participation includes the Chief Financial Officer and Head of M&A & Investor Relations.
- The event is the Emkay Confluence 2026, involving 1-on-1 and group meetings in Mumbai.
- Company currently manages 104 Managed Training Services (MTS) clients as per latest quarterly data.
NIIT Learning Systems Limited (NIITMTS) has scheduled an investor and analyst meeting for August 13, 2026, in Mumbai. The company will be represented by its Chief Financial Officer and Head of M&A at the Emkay Confluence 2026 event. The meetings will consist of 1-on-1 and group sessions to discuss the company's performance and strategy. This interaction occurs as the company maintains a TTM revenue of ₹1,952 Cr and an OPM of 18.8%, despite a 35% stock price decline over the last six months.
- Meeting scheduled for August 13, 2026, between 9:00 A.M. and 5:00 P.M. IST
- Company represented by CFO Sanjay Mal and Head of M&A Kapil Saurabh
- Event format includes 1-on-1 and group meetings at the Emkay Confluence 2026 in Mumbai
- Company confirms no Unpublished Price Sensitive Information (UPSI) will be shared
- Current TTM revenue stands at ₹1,952 Cr with a market capitalization of ₹3,399 Cr
NIIT Learning Systems Limited (NIITMTS) has fixed August 20, 2026, as the record date for its final dividend of ₹3.25 per equity share for FY 2025-26. This dividend, recommended by the board on May 12, 2026, is subject to shareholder approval at the 24th Annual General Meeting (AGM) on September 9, 2026. Based on the current market price of ₹249.8, the dividend yield is approximately 1.3%. The payout represents roughly 18% of the company's TTM EPS of ₹18.08.
- Final dividend of ₹3.25 per equity share of face value ₹2 recommended for FY 2025-26
- Record date for determining dividend entitlement is Thursday, August 20, 2026
- 24th Annual General Meeting (AGM) scheduled for Wednesday, September 9, 2026
- Dividend payment to be completed within 30 days from the date of the AGM
- TTM EPS stands at ₹18.08, making the dividend payout ratio approximately 18%
NIIT Learning Systems (NIITMTS) has scheduled its 24th Annual General Meeting (AGM) for September 9, 2026. The company has fixed August 20, 2026, as the record date for a final dividend of Rs 3.25 per equity share (Face Value Rs 2). This dividend represents a payout of approximately 18% of the TTM EPS of Rs 18.08. At the current market price of Rs 249.8, the dividend yield stands at approximately 1.3%.
- Final dividend of Rs 3.25 per equity share recommended for the financial year 2025-26.
- Record date for determining dividend eligibility is fixed as Thursday, August 20, 2026.
- 24th Annual General Meeting to be conducted via Video Conferencing on September 9, 2026.
- Dividend payment will be processed within 30 days of shareholder approval at the AGM.
- The dividend payout is supported by a TTM PAT of Rs 248 Cr and a low Debt/Equity ratio of 0.03.
Financial Performance
Revenue Growth by Segment
In Q2 FY26, total revenue reached INR 4,757 Mn, representing a 20% YoY growth and 5% QoQ growth. In constant currency (CC) terms, revenue grew 15% YoY and 3% QoQ. While specific segment percentages were not disclosed, the company noted significant growth in learning delivery and identified key sectors as Technology, Industrials, and BFSI (Banking, Financial Services, Insurance).
Geographic Revenue Split
The company operates globally with subsidiaries in the USA, UK, Germany, Malaysia, Ireland, Canada, Mexico, Brazil, and Nigeria. Q2 FY26 performance was impacted by vacation cycles in Europe. The acquisition of MST Group in Germany (July 2025) added 7 new logos and contributed to European revenue, with MST's previous full-year revenue noted at approximately €10 million.
Profitability Margins
EBITDA for Q2 FY26 was INR 966 Mn, up 3% YoY and 2% QoQ. PAT stood at INR 470 Mn with an EPS of INR 3.43. Profitability is impacted by strategic investments in sales, marketing, and capability building, with a long-term target of maintaining 20% profitability.
EBITDA Margin
EBITDA margin for Q2 FY26 was 20.3%, which represents a decrease of 324 bps YoY and 76 bps QoQ. The company has guided for full-year margins to remain in the 20% to 21% range.
Capital Expenditure
Capital expenditure for Q2 FY26 was INR 99 Mn, primarily focused on ongoing investments in GenAI and future-ready portfolio capabilities.
Credit Rating & Borrowing
Not disclosed in available documents; however, the company reported interest expenses of INR 19 Mn related to acquisition loans and INR 10 Mn on lease liabilities in Q2 FY26.
Operational Drivers
Raw Materials
As a service-based learning systems provider, the primary 'raw materials' are Personnel (Human Capital) and Technology Infrastructure. The company noted that persistent cost pressures in the macro environment foster opportunities for outsourcing.
Import Sources
Not applicable for a service model; however, the company utilizes global delivery capabilities across its subsidiaries in the USA, Europe, Asia, and Latin America.
Capacity Expansion
Current capacity is represented by 104 MTS (Managed Training Services) clients as of Q2 FY26, which includes 7 new clients from the MST Group acquisition. The company added 3 new MTS contracts, 3 renewals, and 1 expansion during the quarter.
Raw Material Costs
Not applicable as a manufacturing cost; however, strategic growth and acquisition expenses totaled INR 120 Mn in Q2 FY26, including INR 60 Mn in transaction costs for MST and INR 41 Mn in notional charges for St. Charles (StC).
Manufacturing Efficiency
Not applicable; however, the company focuses on 'time to proficiency' as a key metric for its AI-first offerings to drive predictable outcomes at scale.
Strategic Growth
Expected Growth Rate
12.5-13%
Growth Strategy
Growth will be achieved through a dual strategy: Inorganic growth via acquisitions (like the 100% stake in MST Group) to add capabilities and penetrate new geographies, and organic growth focused on new customer acquisition (3 new logos in Q2), expansion within existing accounts, and scaling AI-enabled revenue which currently sits at 10% of total revenue.
Products & Services
Managed Training Services (MTS), AI-enabled learning solutions, immersive learning, advisory services, and enterprise AI deployments.
Brand Portfolio
NIIT MTS, NIIT Learning Systems, MST Group, St. Charles (StC).
New Products/Services
AI-first offerings and enterprise AI deployments, which grew to 10% of revenue in Q2 FY26 and are expected to grow rapidly in coming quarters.
Market Expansion
Expansion into Germany and broader Europe via the MST Group acquisition; strengthening presence in select geographies and customer segments like BFSI and Industrials.
Market Share & Ranking
Aims for industry-leading growth and profitability; currently expanding market share through wallet share consolidation and new logo additions.
Strategic Alliances
Acquisition of 100% stake in MST Group (Germany) in July 2025; consolidation of St. Charles (StC).
External Factors
Industry Trends
AI adoption is moving from pilots to production. There is a persistent trend toward outsourcing driven by cost pressures, with a growing market for immersive learning and advisory services.
Competitive Landscape
The company competes in the global managed training services market, positioning itself against providers by consolidating wallet share and accelerating market share expansion through technology-led differentiation.
Competitive Moat
The moat is built on long-term MTS contracts (providing $409 Mn visibility), deep customer relationships, and a differentiated AI-first strategy that improves time to proficiency and outcome predictability.
Macro Economic Sensitivity
High sensitivity to macro uncertainty and interest rate environments, which influence client consumption and decision-making cycles for large outsourcing contracts.
Consumer Behavior
Clients are shifting toward AI-enabled learning and cost-optimization models to drive efficiency amid economic uncertainty.
Geopolitical Risks
Macro volatility remains heightened, prompting increased client engagement on cost optimization and large-scale cost takeout initiatives.
Regulatory & Governance
Industry Regulations
Compliant with the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Adheres to Secretarial Standards SS-1 and SS-2.
Taxation Policy Impact
The company faced non-tax-deductible transaction/consolidation charges and withholding tax on dividends from a foreign subsidiary during Q2 FY26.
Legal Contingencies
The Secretarial Audit Report for FY25 noted compliance with applicable laws; no specific pending court case values were disclosed in the provided snippets.
Risk Analysis
Key Uncertainties
Decision delays and shifts in large initiatives due to macro volatility; integration risks associated with inorganic growth (MST and StC).
Geographic Concentration Risk
Significant revenue visibility is tied to global markets, with Europe specifically noted for seasonal (vacation) volatility in Q2.
Third Party Dependencies
Not disclosed; however, the company relies on its global delivery capabilities and subsidiary network.
Technology Obsolescence Risk
Mitigated by disproportionate investments in GenAI and immersive learning to maintain a future-ready portfolio.
Credit & Counterparty Risk
Receivables quality is reflected in a DSO of 66 days; the company maintains a strong net cash position of INR 5,917 Mn.
