Education – Oct-Dec’25 Earnings Preview – Same shelf, different stories
Published on 08 Jan 2026
Education companies under our coverage are expected to report 8.5% YoY growth in top-line during 3QFY26E. DOMS IN is likely to report an 18.1% YoY growth in top-line, aided by commissioning of the 3rd production line in hygiene business. In contrast, NELI IN’s top-line is expected to remain under pressure, largely due to weak stationery exports following levy of tariffs by the US. On the operating front, while DOMS IN is expected to report a healthy EBITDA margin of 17.4% driven by operating leverage in the hygiene business (seasonally strong quarter), NELI IN’s performance is likely to remain subdued with an EBITDA margin of 3.0% amid weak top-line growth.
