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Swing Capital

NIIT Learning Systems Ltd

NSE: NIITMTS BSE: 543952IT / Software

NIIT Learning Systems Limited offers Managed Training Services to companies across 30 countries. The NLSL has comprehensive suite of Managed Training Services includes Custom Content and Curriculum Design, Learning Delivery, Learning Administration, Strategic Sourcing, Learning Technology, and L&D consulting services. The company also offers specialized solutions including immersive learning, customer education, talent pipeline as a service, DE&I training, digital and IT training as well as leadership and professional development services.[1]

₹238
52W: ₹230 — ₹444
PE 28.4 · Book ₹58.1 · +310% vs book
Market Cap₹3,275 Cr
Stock P/E28.4Price to Earnings
ROCE18.2%Return on Capital
ROE15.4%Return on Equity
Div. Yield1.26%Face Value ₹2

Strengths

  • +Company is almost debt free.
  • +Company has been maintaining a healthy dividend payout of 48.0%

Weaknesses

  • −Promoter holding is low: 34.1%
  • −Earnings include an other income of Rs.108 Cr.
  • −Working capital days have increased from 175 days to 386 days

Shareholding Pattern

Promoters34.09%
FIIs16.75%
DIIs24.46%
Public24.67%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters34.57%34.52%▼0.034.49%▼0.034.45%▼0.034.35%▼0.134.21%▼0.134.19%▼0.034.09%▼0.1
FIIs18.27%17.66%▼0.617.63%▼0.017.56%▼0.117.48%▼0.117.43%▼0.117.13%▼0.316.75%▼0.4
DIIs17.31%18.72%▲1.421.53%▲2.821.88%▲0.322.15%▲0.323.73%▲1.624.27%▲0.524.46%▲0.2
Public29.84%29.08%▼0.826.34%▼2.726.11%▼0.225.99%▼0.124.61%▼1.424.4%▼0.224.67%▲0.3

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales101108107116130130131134143124
Expenses89889199105112117120121112
Operating Profit13201617251814142212
OPM %13%19%15%15%19%14%11%11%16%10%
Net Profit51231862262320581314
EPS ₹3.761.681.354.571.891.661.484.230.930.99

AI Insights

Revenue Trend

Mar 2026 revenue at ₹532Cr, up 10.1% YoY. OPM at 12%.

Debt Position

Borrowings at ₹21Cr. Debt-to-equity ratio: 0.03x. Healthy balance sheet.

Institutional Flow

DIIs: 24.46% (+8.63pp change). FIIs: 16.75% (-2.15pp change). Promoters hold 34.09%.

Margin & Efficiency

ROCE improving from 0% (Mar 2015) to 18% (Mar 2026). Working capital days: 386.

Valuation

PE 28.4x with 18.2% ROCE. Price is 310% above book value of ₹58.1. Dividend yield: 1.26%.

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