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 ₹ 2,498 Cr.
- Current Price ₹ 259
- High / Low ₹ 272 / 129
- Stock P/E 38.7
- Book Value ₹ 99.6
- Dividend Yield 0.00 %
- ROCE 12.8 %
- ROE 3.84 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is expected to give good quarter
- Company has delivered good profit growth of 36.9% CAGR over last 5 years
- Debtor days have improved from 37.3 to 25.5 days.
Cons
- Stock is trading at 2.60 times its book value
- Promoter holding is low: 33.8%
- Company has a low return on equity of -24.0% over last 3 years.
- Promoters have pledged 30.4% of their holding.
- Earnings include an other income of Rs.111 Cr.
- Company's cost of borrowing seems high
- Promoter holding has decreased over last 3 years: -26.3%
* 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
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 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| 3 | 75 | 161 | 362 | 358 | 482 | 525 | |
| 10 | 114 | 233 | 307 | 313 | 316 | 343 | |
| Operating Profit | -8 | -39 | -72 | 55 | 44 | 166 | 183 |
| OPM % | -300% | -52% | -44% | 15% | 12% | 34% | 35% |
| 0 | 1 | 38 | 8 | 5 | 124 | 111 | |
| Interest | 0 | 9 | 11 | 79 | 131 | 78 | 58 |
| Depreciation | 1 | 14 | 45 | 67 | 164 | 58 | 59 |
| Profit before tax | -8 | -61 | -89 | -83 | -246 | 154 | 177 |
| Tax % | -0% | -4% | -11% | -7% | 2% | 15% | |
| -8 | -58 | -79 | -77 | -252 | 130 | 158 | |
| EPS in Rs | -11.83 | -14.20 | -12.86 | -11.66 | -33.25 | 10.97 | 15.03 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 185% |
| 3 Years: | 44% |
| TTM: | 32% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 37% |
| 3 Years: | 30% |
| TTM: | 129% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 9% |
| 1 Year: | 17% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | -32% |
| 3 Years: | -24% |
| Last Year: | 4% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 7 | 41 | 62 | 69 | 74 | 96 |
| Reserves | -7 | 36 | 244 | 307 | 183 | 862 |
| 7 | 203 | 306 | 583 | 660 | 382 | |
| 5 | 100 | 275 | 667 | 947 | 476 | |
| Total Liabilities | 12 | 380 | 887 | 1,626 | 1,863 | 1,817 |
| 4 | 255 | 734 | 1,432 | 1,612 | 1,268 | |
| CWIP | 2 | 0 | 3 | 10 | 0 | 0 |
| Investments | 0 | 0 | 0 | 5 | 5 | 394 |
| 6 | 125 | 150 | 180 | 246 | 155 | |
| Total Assets | 12 | 380 | 887 | 1,626 | 1,863 | 1,817 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| -5 | -39 | 15 | 27 | 32 | 106 | |
| -6 | -225 | -342 | -231 | -49 | -103 | |
| 12 | 313 | 363 | 139 | 51 | -26 | |
| Net Cash Flow | 0 | 48 | 36 | -65 | 34 | -24 |
| Free Cash Flow | -11 | -43 | -75 | 14 | 20 | 92 |
| CFO/OP | 65% | 88% | -28% | 49% | 92% | 71% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 46 | 17 | 12 | 39 | 47 | 25 |
| Inventory Days | 1,011 | |||||
| Days Payable | 4,731 | |||||
| Cash Conversion Cycle | -3,674 | 17 | 12 | 39 | 47 | 25 |
| Working Capital Days | -993 | -438 | -126 | -435 | -431 | -71 |
| ROCE % | -37% | -25% | -0% | -8% | 13% |
Insights
In beta| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Total Enrollments (Additional Learners) Students |
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| Number of Coaching Centers/PDCs Centers |
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| Commerce Test Prep Revenue Share % of total revenue |
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| Government Test Prep Revenue Share % of total revenue |
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| K-12 Schools Operated Schools |
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| K-12 Students Students |
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| Student Collections INR Crores |
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| JK Shah + Tapasya College of Commerce Students Students |
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Extracted by Screener AI
Documents
Announcements
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Receipt Of Copy Of Order Of Scheme Of Arrangement Obtained From The Hon''ble NCLT, Chennai Bench
- NCLT sanctioned composite scheme among Veranda Learning, Veranda XL and JK Shah on August 20, 2026.
- Announcement under Regulation 30 (LODR)-Earnings Call Transcript
- Announcement under Regulation 30 (LODR)-Newspaper Publication
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
- Audio recording of Q1 FY2027 earnings call uploaded on company website.
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Announcement under Regulation 30 (LODR)-Monitoring Agency Report
- Monitoring agency report for quarter ended June 30, 2026 shows no deviation in preferential issue proceeds.
Annual reports
Concalls
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Aug 2026Transcript PPT REC
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Jul 2025TranscriptAI 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.