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 ₹ 2,186 Cr.
- Current Price ₹ 227
- High / Low ₹ 272 / 129
- Stock P/E 396
- Book Value ₹ 127
- Dividend Yield 0.00 %
- ROCE 4.31 %
- ROE 0.56 %
- Face Value ₹ 10.0
Pros
- Debtor days have improved from 91.6 to 52.4 days.
Cons
- Company has low interest coverage ratio.
- Promoter holding is low: 33.8%
- Company has a low return on equity of 1.13% over last 3 years.
- Promoters have pledged 30.4% of their holding.
- Earnings include an other income of Rs.41.7 Cr.
- Promoter holding has decreased over last 3 years: -26.2%
* 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
Part of BSE Consumer Discretionary BSE 1000
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 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00 | 2.97 | 12.15 | 17.14 | 39.41 | 41.08 | 29.89 | |
| 0.10 | 0.20 | 4.14 | 17.65 | 44.14 | 21.88 | 60.72 | 25.45 | |
| Operating Profit | -0.10 | -0.20 | -1.17 | -5.50 | -27.00 | 17.53 | -19.64 | 4.44 |
| OPM % | -39.39% | -45.27% | -157.53% | 44.48% | -47.81% | 14.85% | ||
| 0.00 | 0.00 | 0.08 | 1.38 | 37.91 | 18.74 | 56.92 | 41.68 | |
| Interest | 0.00 | 0.00 | 0.00 | 8.21 | 3.38 | 13.25 | 31.07 | 39.63 |
| Depreciation | 0.00 | 0.00 | 0.17 | 0.37 | 0.51 | 2.53 | 12.22 | 3.09 |
| Profit before tax | -0.10 | -0.20 | -1.26 | -12.70 | 7.02 | 20.49 | -6.01 | 3.40 |
| Tax % | 0.00% | 0.00% | -0.79% | -0.39% | 0.57% | -13.81% | -35.94% | 127.35% |
| -0.10 | -0.20 | -1.25 | -12.65 | 6.98 | 23.33 | -3.85 | -0.93 | |
| EPS in Rs | -1,000.00 | -2,000.00 | -1.79 | -3.07 | 1.13 | 3.37 | -0.52 | -0.10 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 59% |
| 3 Years: | 20% |
| TTM: | -27% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 45% |
| 3 Years: | -8% |
| TTM: | 243% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 11% |
| 1 Year: | 15% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 1% |
| 3 Years: | 1% |
| 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 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.00 | 0.00 | 7.00 | 41.18 | 61.57 | 69.20 | 74.40 | 96.17 |
| Reserves | -0.10 | -0.29 | -0.03 | 80.83 | 383.42 | 546.48 | 683.59 | 1,121.40 |
| 0.05 | 0.12 | 6.03 | 199.98 | 64.30 | 122.77 | 169.89 | 350.54 | |
| 0.11 | 0.17 | 1.26 | 29.68 | 14.61 | 132.38 | 224.30 | 30.21 | |
| Total Liabilities | 0.06 | 0.00 | 14.26 | 351.67 | 523.90 | 870.83 | 1,152.18 | 1,598.32 |
| 0.00 | 0.00 | 1.19 | 0.88 | 0.99 | 64.65 | 58.53 | 0.54 | |
| 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 | 1,272.70 |
| 0.06 | 0.00 | 9.55 | 141.15 | 118.56 | 142.77 | 199.99 | 325.08 | |
| Total Assets | 0.06 | 0.00 | 14.26 | 351.67 | 523.90 | 870.83 | 1,152.18 | 1,598.32 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| -0.05 | -0.06 | -3.89 | -14.12 | -42.32 | 29.55 | 31.93 | -7.29 | |
| 0.00 | 0.00 | -8.96 | -256.32 | -225.97 | -19.48 | -115.92 | -581.33 | |
| 0.05 | 0.06 | 12.92 | 317.21 | 222.33 | -10.16 | 102.48 | 575.93 | |
| Net Cash Flow | 0.00 | 0.00 | 0.07 | 46.76 | -45.96 | -0.09 | 18.49 | -12.68 |
| Free Cash Flow | -0.05 | -0.06 | -5.25 | -14.17 | -41.86 | 22.06 | 31.51 | -7.34 |
| CFO/OP | 50% | 30% | 314% | 231% | 158% | 173% | -163% | -50% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 290.03 | 237.93 | 179.73 | 131.24 | 91.34 | 52.39 | ||
| Inventory Days | ||||||||
| Days Payable | ||||||||
| Cash Conversion Cycle | 290.03 | 237.93 | 179.73 | 131.24 | 91.34 | 52.39 | ||
| Working Capital Days | 270.37 | -987.45 | 2,371.22 | 386.02 | -1,743.35 | -132.13 | ||
| ROCE % | -19.64% | -2.68% | 2.50% | 5.41% | 3.01% | 4.31% |
Insights
In beta| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2025 | |
|---|---|---|---|---|---|
| Total Enrolments Number |
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| Commerce Centers (JK Shah) Number |
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| Number of Centers Number |
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| Students Catered (K-12) Number |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
10 Jun - JK Shah Classes signs MoU with Japan’s CPA Excellent Partners for global accounting talent pathways.
- Announcement under Regulation 30 (LODR)-Earnings Call Transcript 1 Jun
- Announcement under Regulation 30 (LODR)-Newspaper Publication 31 May
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
30 May - Q4 FY2026 earnings call recording for March 31, 2026 results uploaded on website.
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Announcement under Regulation 30 (LODR)-Change in Management
30 May - Board approved new statutory auditor, COO transfer to SNVA Veranda, and CMD reappointment from October 28, 2026.
Annual reports
Concalls
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Jun 2026Transcript PPT
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Feb 2026Transcript PPT
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Oct 2025Transcript PPT
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Jul 2025TranscriptAI SummaryPPT
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Nov 2024TranscriptAI SummaryPPT
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Dec 2023TranscriptAI SummaryPPT
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Nov 2023TranscriptAI SummaryPPT
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Aug 2023TranscriptAI SummaryPPT
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May 2023TranscriptAI SummaryPPT
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Feb 2023TranscriptAI SummaryPPT
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Nov 2022TranscriptAI SummaryPPT
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.