NIIT Learning Systems Ltd (NIITMTS) — share price & stock analysis

Market cap

₹3,163 Cr

P/E

13.9×

ROE

16.6%

vs own history (since 2024)

9th pctile

Book value / share

₹112

EPS (TTM)

₹16.6

10-yr median P/E

22.6×

Revenue (FY26)

₹1,952 Cr

Profit after tax (FY26)

₹248 Cr

Weinstein stage

Stage 4 (17 weeks)

Data as of

1 July 2026

5 of the 6 things we track are currently moving the right way — nearly everything is pulling in the same direction.

Where the levels actually stand: ROCE 21% — a high-quality engine; effectively no debt; margins near the top of their band. Momentum says which way things are moving; these say where they are.

Read this number for what it is: it measures the DIRECTION of change, not the quality of the business. A mediocre business getting better scores high here; a great one having a soft quarter scores low. Profit, sales and margins count double.

The business grew faster than the stock

Since May 2024, earnings per share grew 3% while the stock is down 49%. The business has outrun its own share price.pricettm_eps

When profits grow faster than the price, the stock quietly gets cheaper while doing better — the market hasn’t fully caught up.

Today’s P/E of 13.9× sits near the bottom of its own range — it has been cheaper than this only 9% of the time against its own history since 2024.pe_ratio

One caveat: this history includes FY15 and FY16 and FY19 and FY20 and FY21, when earnings collapsed and the P/E was sky-high. “Cheapest ever” partly reflects earnings finally normalising, not just a cheap price.net_profit

Price is the weekly close (₹). EPS is trailing-twelve-month profit per share, anchored on Screener's own snapshots; between snapshots it is filled from price ÷ P/E (an exact identity), and any fill straying more than 18% from the neighbouring snapshots is dropped rather than shown. The lower panel is the P/E — what the market pays per rupee of profit; the dotted line is its long-run median (22.6×).

The price is in a downtrend — fighting it is expensive

Price trends have a life cycle: they base (1), advance (2), top out (3) and decline (4). This chart is in Stage 4: declining — 17 weeks so far, confirmed.stage

The price is below its falling 200-day average — history says most of the damage in stocks happens here. Cheap can get cheaper in Stage 4.dma_200

Trailing NIFTY 500 for 27 weeks — relative strength is the market’s live opinion, and right now it is against it.rs_mansfield

What would end it: two Friday closes in a row below the 200-day line. That is the house exit rule — mechanical, no debates.dma_200

Losses, then a rebuild: profits are at an all-time high

Over 9 years, sales went from ₹141 Cr to ₹1,952 Cr (about 34% a year), and profit from ₹−45.0 Cr to ₹248 Cr.revenuenet_profit

The books show real losses in FY15 and FY16 and FY19 and FY20 and FY21 (worst: ₹−45.0 Cr). Everything about today’s cheap-looking numbers must be read against that history — the recovery is what you are buying.net_profit

Sales jumped 22% last quarter — growth every single quarter for over 2 years

Mar 26 sales were ₹525 Cr, up 22% on the same quarter last year.revenue

That makes 10 quarters of growth in a row — this is a trend, not a blip.revenue

Margins are compressing — 19% → 17% in a year

Of every ₹100 of sales, the company keeps ₹16.7 as operating profit (a year ago it kept ₹18.6).opm_pct

Zoom out and this is the page's quiet hero: annual operating margin bottomed at −84.6% in FY21 and has been rebuilt to 18.8% — that recovery, not sales alone, is what powers the profit growth elsewhere on this page.operating_profit

The gross margin barely moved (100% → 99%), so the change came from running costs — overheads are growing faster than sales.gpm_pctopm_pct

Profit exploded 57% — mostly from income from outside the core business

Mar 26 profit after tax was ₹77.0 Cr, up 57% year on year.net_profit

A caution: a meaningful slice of this jump came from income outside the core business — that is lower-quality profit and may not repeat.other_income

The profits are real — they turn into cash

Over the last 5 profitable years, the business reported ₹1,083 Cr of profit and collected ₹1,244 Cr of operating cash — about 115% conversion.operating_cash_flownet_profit

One asterisk on that strength: suppliers are being paid 1163 days later than a year ago (1211 → 2374 days). Cash flattered by stretching payables is real cash — but it is borrowed timing, not extra earning power.payable_days

The cash cycle is stretching — more money stuck in the pipeline

One rupee now takes about 71 days to go out the door as materials and come back as collected cash — up from 56 days the year before.cash_conversion_cycle

The biggest mover: suppliers being paid later (1211 → 2374 days).payable_days

The asset base keeps compounding — this company builds

The productive asset base has gone from ₹21.0 Cr (FY15) to ₹1,108 Cr.fixed_assetscwip

The build is self-funded: the last 3 years' investing outflow (₹717 Cr) fits inside the operating cash the business generated (₹814 Cr).investing_cash_flowoperating_cash_flow

Debt is small — but no longer zero, and growing

For every ₹100 shareholders have put in (and left in), the company has borrowed ₹21 — total borrowings have grown from ₹95.0 Cr to ₹318 Cr over the window.borrowings

The equity base grew even faster, so the ratio stays comfortable — but a 3× rise in absolute borrowings deserves a name (acquisitions, capex), not a shrug. Watch whether it keeps compounding.borrowings

Every ₹100 kept in the business earns ₹21 — a high-quality engine

Return on capital employed is 21.0% (a year ago: 28.0%). This is the single best test of business quality: what the company earns on the money it keeps.roce_pct

Big money is quietly accumulating

Promoters hold 34.1%, essentially unchanged. Foreign funds own 16.8%, domestic funds 24.5%.promoters_pctfiis_pctdiis_pct

Institutions buying while the story develops is the market’s quiet vote of confidence — they meet management, you don’t.

A turnaround that stuck — the question is what’s left to re-rate

The numbers are genuinely mixed, and the price hasn’t fully caught up with the improvement.

Best thing in the data: profit rising (₹49.0 Cr → ₹77.0 Cr).net_profit

Biggest worry: free cash flow falling (₹125 Cr → ₹−126 Cr).operating_cash_flow

Machine-written research from Screener data — every number traces to its source column. Sector Alpha is not a SEBI-registered investment adviser; nothing here is a recommendation to buy or sell. Not investment advice.

Straight answers from the data