Other Consumer Services
MPS Limited provides platforms and services for content creation, full-service production, and distribution to the publishers, learning companies, corporate institutions, libraries, and content aggregators in India, Europe, the United States, and internationally. It operates in three segments: Content Solutions, Platform Solutions, and eLearning Solutions. The company offers content authoring and development solutions from PreK–12 through higher education and professional development; publishing solutions, including editorial services, proofreading, indexing, project management, creative studios, rights and permissions, interactive media, composition, and digital production; digital transformation and accessibility solutions; content assembly, media asset development, design, and media services, as well as digital learning objects; and marketing and customer support solutions. It also provides Digicore, a cloud-based digital publishing platform; MPSTrak, a cloud-based workflow and content management platform for books, journals, reference works, and media; mag+, which publishes content to mobile app; THINK360, an end-to-end order management and delivery platform; ScholarStor, a content hosting and delivery platform; SCHOLARLYStats, a cloud-based platform to empower librarians and institutions; and MPSInsight, a cloud-based usage analytics platform that empowers publishers. In addition, the company offers eLearning solutions, including custom e-learning, micro and mobile learning, simulation and game-based learning, web-based tutorials, learning nuggets, motion graphics, and augmented and virtual reality; experiential learning design and consulting services; and platform solutions, as well as operates experience centers and learning platforms. The company was formerly known as Macmillan India Limited and changed its name to MPS Limited in June 2009. The company was founded in 1892 and is based in Noida, India. MPS Limited is a subsidiary of ADI BPO Services Limited.
Analysis of MPS's financial performance, highlighting revenue trends, growth patterns, and key metrics through quarterly analysis.
Last Updated: Dec 31, 2024
Description | Share | Value |
---|---|---|
Content Solutions | 52.7% | 98.2 Cr |
Platform Solutions | 28.6% | 53.3 Cr |
elearning Solutions | 18.7% | 34.8 Cr |
Total | 186.4 Cr |
Dividend: Dividend paying stock. Dividend yield of 3.23%.
Profitability: Very strong Profitability. One year profit margin are 19%.
Growth: Good revenue growth. With 50.7% growth over past three years, the company is going strong.
Smart Money: Smart money has been increasing their position in the stock.
Balance Sheet: Strong Balance Sheet.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Momentum: Stock has a weak negative price momentum.
Technicals: SharesGuru indicator is Bearish.
Comprehensive comparison against sector averages
MPSLTD metrics compared to Other
Category | MPSLTD | Other |
---|---|---|
PE | 31.60 | 49.51 |
PS | 5.88 | 3.64 |
Growth | 31.1 % | 7.5 % |
MPSLTD vs Other (2021 - 2025)
Investor Care | |
---|---|
Dividend Yield | 3.33% |
Dividend/Share (TTM) | 78 |
Shares Dilution (1Y) | 0.00% |
Diluted EPS (TTM) | 77.11 |
Financial Health | |
---|---|
Current Ratio | 1.73 |
Debt/Equity | 0.00 |
Debt/Cashflow | 0.00 |
Valuation | |
---|---|
Market Cap | 4 kCr |
Price/Earnings (Trailing) | 30.67 |
Price/Sales (Trailing) | 5.7 |
EV/EBITDA | 19.48 |
Price/Free Cashflow | 31.2 |
MarketCap/EBT | 22.43 |
Fundamentals | |
---|---|
Revenue (TTM) | 702.12 Cr |
Rev. Growth (Yr) | 39.14% |
Rev. Growth (Qtr) | 4.94% |
Earnings (TTM) | 130.55 Cr |
Earnings Growth (Yr) | 36.93% |
Earnings Growth (Qtr) | 15.52% |
Profitability | |
---|---|
Operating Margin | 25.42% |
EBT Margin | 25.42% |
Return on Equity | 29.3% |
Return on Assets | 19.15% |
Free Cashflow Yield | 3.21% |
Understand MPS ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
Shareholder Name | Holding % |
---|---|
ADI BPO SERVICES LIMITED | 68.34% |
MUKUL MAHAVIR AGRAWAL | 4.46% |
Distribution across major stakeholders
Distribution across major institutional holders
Detailed comparison of MPS against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
---|---|---|---|---|---|---|---|---|---|
NAVNETEDUL | Navneet EducationPrinting & Publication | 3.14 kCr | 1.85 kCr | +3.88% | -2.88% | 3.9 | 1.69 | +6.69% | +344.54% |
NIITLTD | NIITEducation | 1.8 kCr | 419.48 Cr | +9.57% | +24.64% | 39.37 | 4.29 | +20.26% | +145.03% |
APTECHT | AptechEducation | 906.59 Cr | 462.5 Cr | +32.35% | -38.68% | 53.69 | 1.96 | -11.99% | -71.69% |
SCHAND | S Chand And Co.Printing & Publication | 723.96 Cr | 692.93 Cr | +19.56% | -15.35% | 15.44 | 1.04 | +9.46% | +90.46% |
ZEELEARN | ZEE LEARNEducation | 204.41 Cr | 353.3 Cr | +14.88% | +3.77% | 1.24 | 0.58 | -5.68% | +153.08% |
Summary of MPS's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
Last updated: Jan 25
Management Outlook and Major Points:
Financial Performance:
Content Solutions (Education & Research):
eLearning Business:
Technology & Platforms:
Strategic Initiatives:
Market Expansion:
Acquisitions & Capital Allocation:
Risk Management:
Outlook: Management remains bullish on operational leverage, margin sustainability, and platform-led growth while prioritizing shareholder returns and strategic acquisitions.
Last updated: Jan 25
Question 1:
"In the eLearning vertical, QoQ revenue is almost constant, but despite that, we have encountered very exceptional growth in the margins. I would like to know the rationale behind this exceptional performance and is it sustainable going ahead?"
Answer:
Margin improvement in eLearning stemmed from a flexible delivery model (outsourcing/gig workers), strategic right-sizing, optimized resource allocation, and productivity enhancements. The focus on billable utilization, reducing project overruns, and improving yield rates ensured cost efficiency without compromising quality. Management expects sustained margins through scalability, AI workflows, and revenue growth.
Question 2:
"How do we see the cost optimization trend driving momentum in the content business? Can you elaborate on the three-year volume agreement mentioned?"
Answer:
The three-year deal links efficiency gains (leveraging proprietary tech/workflows) to customer spend increases, benefiting both parties via cost savings and revenue growth. Cost optimization in content solutions included reducing US overhead and expanding offshore work. Margins improved through operational discipline and strategic alignment of global teams.
Question 3:
"Is there scope for further margin improvement? What steady-state margins are targeted? Can you provide FY26 growth guidance and acquisition plans?"
Answer:
Margins (~32% in eLearning) are sustainable; growth-driven operating leverage may expand them further. No short-term guidance was provided, but Vision 2027 (INR 1,500 crore revenue by FY28) remains the focus. Acquisitions will target education-sector adjacencies (platforms, end-consumer proximity) at disciplined valuations.
Question 4:
"What is the update on the 15 new logos won in H1 FY25? Are you considering AI-focused eLearning acquisitions?"
Answer:
New logos are progressing well, with pilot deliveries and positive feedback. AI acquisitions are limited due to subscale targets, but AI-driven revenue streams (translation, accessibility projects) are growing (~$5M annually). Proprietary AI tools (e.g., Curie) are expanding into research workflows.
Question 5:
"Will future acquisitions require debt, or is internal cash sufficient?"
Answer:
Internal cash (INR 68 crore post-dividend) and monthly free cash flow (~INR 15 crore) suffice for near-term needs. Debt up to INR 150 crore is manageable if required, but no immediate plans exist. Acquisitions prioritize fit over funding constraints.
Question 6:
"How is the fragmented market impacting pricing power and margins?"
Answer:
Operational excellence (automation, tier-2/3 city presence, tech-driven workflows) differentiates MPS, enabling superior margins. Revenue grew 6-7x since 2012 with fewer employees, reflecting efficiency. Pricing power stems from value delivery via process innovation, not market fragmentation.
Question 7:
"Why has eLearning revenue stagnated? Is the cost optimization phase over?"
Answer:
eLearning prioritized margin recovery (~30%+) over growth post-Liberate acquisition. FY26 will shift focus to growth via new logos and existing account expansion. Cost optimization (flexible workforce, AI) is now stable, enabling scalability.
Question 8:
"Can you elaborate on APAC growth drivers and platform business plans?"
Answer:
APAC growth centers on China (researcher tools), Australia (corporate/education eLearning), and India (digital learning). Platform growth includes DigiCore Pro (unified publishing workflows) and Curie's expansion as a researcher companion tool. Education-focused platform initiatives will launch later in 2025.
Question 9:
"Why did platform PBIT decline QoQ? Is AJE integration complete?"
Answer:
QoQ PBIT dip was due to AJE integration costs; margins are improving (late 20% EBITDA) and expected to rise further. Full integration efficiencies are pending, with AJE's B2B segment showing growth.
Question 10:
"How will Vision 2027 be funded? What's the growth outlook across markets?"
Answer:
Accruals and debt (if needed) will fund acquisitions; equity is a last resort. Markets: Research (steady, ~8% growth), Education (closer to end-learner B2B, ~14% growth), and Corporate (global contracts, ~12% growth). Platforms and AI-driven services underpin long-term scalability.