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 ₹ 1,425 Cr.
- Current Price ₹ 148
- High / Low ₹ 272 / 129
- Stock P/E 54.5
- Book Value ₹ 88.9
- Dividend Yield 0.00 %
- ROCE -13.0 %
- ROE -78.0 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
Cons
- Company has low interest coverage ratio.
- Promoter holding is low: 34.0%
- Company has a low return on equity of -51.7% over last 3 years.
- Earnings include an other income of Rs.160 Cr.
- Debtor days have increased from 29.2 to 35.7 days.
- Company's cost of borrowing seems high
- Promoter holding has decreased over last 3 years: -25.7%
* 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 Allcap BSE Consumer Discretionary
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|
| 3 | 75 | 161 | 362 | 471 | 463 | |
| 10 | 114 | 233 | 307 | 434 | 328 | |
| Operating Profit | -8 | -39 | -72 | 55 | 37 | 135 |
| OPM % | -300% | -52% | -44% | 15% | 8% | 29% |
| -0 | 1 | 38 | 8 | 47 | 160 | |
| Interest | 0 | 9 | 11 | 79 | 133 | 99 |
| Depreciation | 1 | 14 | 45 | 67 | 206 | 61 |
| Profit before tax | -8 | -61 | -89 | -83 | -255 | 135 |
| Tax % | -0% | -4% | -11% | -7% | -1% | |
| -8 | -58 | -79 | -77 | -252 | 123 | |
| EPS in Rs | -11.83 | -14.20 | -12.86 | -11.66 | -33.24 | 11.66 |
| Dividend Payout % | -0% | -0% | -0% | -0% | -0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 84% |
| TTM: | 9% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 109% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -8% |
| 1 Year: | -29% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -52% |
| Last Year: | -78% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 7 | 41 | 62 | 69 | 74 | 96 |
| Reserves | -7 | 36 | 244 | 307 | 183 | 755 |
| 7 | 203 | 306 | 583 | 660 | 358 | |
| 5 | 100 | 275 | 667 | 946 | 695 | |
| Total Liabilities | 12 | 380 | 887 | 1,626 | 1,863 | 1,903 |
| 4 | 255 | 734 | 1,432 | 1,611 | 1,323 | |
| CWIP | 2 | -0 | 3 | 10 | 0 | 1 |
| Investments | -0 | -0 | 0 | 5 | 5 | 435 |
| 6 | 125 | 150 | 180 | 246 | 145 | |
| Total Assets | 12 | 380 | 887 | 1,626 | 1,863 | 1,903 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| -5 | -39 | 15 | 27 | 32 | |
| -6 | -225 | -342 | -231 | -49 | |
| 12 | 313 | 363 | 139 | 51 | |
| Net Cash Flow | 0 | 48 | 36 | -65 | 34 |
| Free Cash Flow | -11 | -43 | -75 | 14 | 20 |
| CFO/OP | 65% | 88% | -28% | 49% | 111% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Debtor Days | 46 | 17 | 12 | 39 | 36 |
| Inventory Days | 1,011 | ||||
| Days Payable | 4,731 | ||||
| Cash Conversion Cycle | -3,674 | 17 | 12 | 39 | 36 |
| Working Capital Days | -993 | -438 | -126 | -435 | -327 |
| ROCE % | -37% | -25% | -0% | -13% |
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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Documents
Announcements
- Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot 6 Apr
- Shareholder Meeting / Postal Ballot-Scrutinizer"s Report 6 Apr
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
4 Apr - Submitted Regulation 74(5) certificate for quarter ended March 31, 2026.
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Closure of Trading Window
31 Mar - Trading window closed April 1, 2026 until 48 hours after audited FY2026 results declaration.
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 30 Mar
Annual reports
Concalls
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Feb 2026Transcript PPT
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Jul 2025TranscriptAI SummaryPPT
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Dec 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.