S Chand and Company: 2Q is a non event, annual guidance remains intact; Upside 47.3%  

SCHAND is a CBSE/ICSE focused company deriving more than 80% of business in Q4. The first nine months of financial year is a period of business planning, sampling, marketing, content revision, inventory build-up etc for next academic year. Normally First 9M remains negative with apportionment of cost across quarters hence these results do not extrapolate to annual performance.