- 12 Sep 2022
- ICICIdirect Research
Teamlease aiming at edtech business revenue at Rs 130 crore in FY23TEAMLEASE - 2299 Change: 29.15 (1.28 %)
News: As per Financial Express, Teamlease is aiming at Rs 130 crore revenue from its edtech business in FY23. The media report also says the company is also looking at an IPO of this business in the next few years.
View: The company’s other HR services have two businesses i) Edtech ii) compliance platform. In Edtech business, TL, Edtech collaborates with leading universities and corporations. It assists universities in launching, running, and managing their own online programmes, helps in improving the employability of their students through apprenticeship-linked skilling programmes while in case of corporations, it helps in upskilling and reskilling their workforce to improve productivity and build a talent supply chain. This segment clocked Rs 111 crore revenue in FY22 out of which Rs 70 crore came in from Edtech business while rest from compliance. As per media reports, the company is looking for Rs 130 crore revenue from Edtech business ( 85% growth) to be driven by more partnerships with universities and corporates. As per media reports, it is a profitable business with net margin of around 10-15%. If the company is able to achieve these numbers, we believe its EPS could likely increase by 3-6% in FY23E.