Veranda Learning Solutions Ltd
Incorporated in 2018, Veranda Learning Solutions Ltd is developing & managing an integrated online-to-offline (O2O) EdTech platform which offers a wide range of learning programs for learners preparing for competitive and professional exams[1]
- Market Cap ₹ 2,229 Cr.
- Current Price ₹ 233
- High / Low ₹ 281 / 185
- Stock P/E
- Book Value ₹ 127
- Dividend Yield 0.00 %
- ROCE 3.01 %
- ROE -0.56 %
- Face Value ₹ 10.0
Pros
- Debtor days have improved from 134 to 91.3 days.
Cons
- Company has low interest coverage ratio.
- Promoter holding has decreased over last quarter: -16.4%
- Promoter holding is low: 34.0%
- Company has a low return on equity of 1.76% over last 3 years.
- Earnings include an other income of Rs.63.1 Cr.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Consumer Discretionary Consumer Services Other Consumer Services E-Learning
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00 | 2.97 | 12.15 | 17.14 | 39.41 | 41.08 | 41.63 | |
| 0.10 | 0.20 | 4.14 | 17.65 | 44.14 | 21.88 | 60.72 | 61.91 | |
| Operating Profit | -0.10 | -0.20 | -1.17 | -5.50 | -27.00 | 17.53 | -19.64 | -20.28 |
| OPM % | -39.39% | -45.27% | -157.53% | 44.48% | -47.81% | -48.71% | ||
| 0.00 | 0.00 | 0.08 | 1.38 | 37.91 | 18.74 | 56.92 | 63.11 | |
| Interest | 0.00 | 0.00 | 0.00 | 8.21 | 3.38 | 13.25 | 31.07 | 38.30 |
| Depreciation | 0.00 | 0.00 | 0.17 | 0.37 | 0.51 | 2.53 | 12.22 | 10.55 |
| Profit before tax | -0.10 | -0.20 | -1.26 | -12.70 | 7.02 | 20.49 | -6.01 | -6.02 |
| Tax % | 0.00% | 0.00% | -0.79% | -0.39% | 0.57% | -13.81% | -35.94% | |
| -0.10 | -0.20 | -1.25 | -12.65 | 6.98 | 23.33 | -3.85 | -5.02 | |
| EPS in Rs | -1,000.00 | -2,000.00 | -1.79 | -3.07 | 1.13 | 3.37 | -0.52 | -0.78 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 50% |
| TTM: | -12% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 19% |
| TTM: | -120% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -10% |
| 1 Year: | -17% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 1% |
| 3 Years: | 2% |
| Last Year: | -1% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.00 | 0.00 | 7.00 | 41.18 | 61.57 | 69.20 | 74.40 | 95.73 |
| Reserves | -0.10 | -0.29 | -0.03 | 80.83 | 383.42 | 546.48 | 683.59 | 1,120.60 |
| 0.05 | 0.12 | 6.03 | 199.98 | 64.30 | 122.77 | 169.89 | 256.08 | |
| 0.11 | 0.17 | 1.26 | 29.68 | 14.61 | 132.38 | 224.30 | 88.63 | |
| Total Liabilities | 0.06 | 0.00 | 14.26 | 351.67 | 523.90 | 870.83 | 1,152.18 | 1,561.04 |
| 0.00 | 0.00 | 1.19 | 0.88 | 0.99 | 64.65 | 58.53 | 55.98 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 4.09 | 0.00 | 0.00 |
| Investments | 0.00 | 0.00 | 3.52 | 209.64 | 404.35 | 659.32 | 893.66 | 1,266.91 |
| 0.06 | 0.00 | 9.55 | 141.15 | 118.56 | 142.77 | 199.99 | 238.15 | |
| Total Assets | 0.06 | 0.00 | 14.26 | 351.67 | 523.90 | 870.83 | 1,152.18 | 1,561.04 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| -0.05 | -0.06 | -3.89 | -14.12 | -42.32 | 29.55 | 31.93 | |
| 0.00 | 0.00 | -8.96 | -256.32 | -225.97 | -19.48 | -115.92 | |
| 0.05 | 0.06 | 12.92 | 317.21 | 222.33 | -10.16 | 102.48 | |
| Net Cash Flow | 0.00 | 0.00 | 0.07 | 46.76 | -45.96 | -0.09 | 18.49 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 290.03 | 237.93 | 179.73 | 131.24 | 91.34 | ||
| Inventory Days | |||||||
| Days Payable | |||||||
| Cash Conversion Cycle | 290.03 | 237.93 | 179.73 | 131.24 | 91.34 | ||
| Working Capital Days | 270.37 | -987.45 | 2,371.22 | 386.02 | -1,743.35 | ||
| ROCE % | -19.64% | -2.68% | 2.50% | 5.41% | 3.01% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Monitoring Agency Report
17h - QIP Rs357.42Cr on July 22, 2025; monitoring report confirms 100% utilization by Sept 30, 2025.
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
2d - 154 All-India rankers in CA Sep 2025; AIRs 1-3 secured by Veranda students.
-
Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations,2015
4 Nov - S C V J & Associates resigned Nov 4, 2025; Deloitte Haskins & Sells appointed auditor of BB Virtuals.
-
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
30 Oct - Transcript of the Earnings Call held on October 28,2025
-
Announcement under Regulation 30 (LODR)-Monitoring Agency Report
29 Oct - Monitoring report: Preferential issue INR 60.00 crore; equity proceeds ₹35.00 crore utilized; warrants 25% received.
Annual reports
Concalls
-
Oct 2025Transcript PPT
-
Sep 2025Transcript PPT
-
Aug 2025Transcript PPT
-
Jul 2025TranscriptNotesPPT
-
Jun 2025TranscriptNotesPPT
-
May 2025TranscriptNotesPPT
-
Feb 2025TranscriptNotesPPT
-
Jan 2025TranscriptNotesPPT
-
Nov 2024TranscriptNotesPPT
-
Aug 2024TranscriptNotesPPT
-
May 2024TranscriptNotesPPT
-
Feb 2024Transcript PPT
-
Dec 2023TranscriptNotesPPT
-
Nov 2023TranscriptNotesPPT
-
Aug 2023TranscriptNotesPPT
-
May 2023TranscriptNotesPPT
-
Feb 2023TranscriptNotesPPT
-
Nov 2022TranscriptNotesPPT
Business Overview:[1]
a) VLSL is part of the Kalpathi AGS Group.
b) It provides education technology solutions, including training programs for competitive exams like State Public Service Commission, Banking, Insurance, Railways, IAS, CA, and professional upskilling.
c) The platform integrates technology, processes, and methodologies to deliver personalized learning experiences nationwide.
d) It offers diversified learning solutions in online, offline hybrid, and offline blended formats for students, aspirants, professionals, and corporate employees.