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 ₹ 312 Cr.
- Current Price ₹ 32.3
- High / Low ₹ 43.8 / 16.6
- Stock P/E 4.84
- Book Value ₹ 99.6
- Dividend Yield 0.00 %
- ROCE 12.8 %
- ROE 3.84 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Stock is trading at 0.32 times its book value
- 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
- Promoter holding has decreased over last quarter: -1.11%
- Promoter holding is low: 32.6%
- Company has a low return on equity of -24.0% over last 3 years.
- Promoters have pledged 69.5% of their holding.
- Earnings include an other income of Rs.111 Cr.
- Company's cost of borrowing seems high
* 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
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 | -2.96 | -14.20 | -12.86 | -11.66 | -33.25 | 10.97 | 15.04 |
| 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: | 13% |
| 1 Year: | -1% |
| 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/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 65% | 88% | -28% | 49% | 92% | 71% |
Ratios
Consolidated / 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| Oct 2021 | 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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| 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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| Commerce Test Prep Enrolments Students |
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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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Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015
- JSCEL executed pledge on subsidiary shares to secure Rs.143 crore NCDs on October 13, 2026.
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Apportionment Of Cost Of Acquisition Of Equity Shares Of Veranda Learning Solutions Limited ('Company / VLS') And Equity Shares Of J.K. Shah Commerce Education Limited ('JSCEL') Pursuant To Composite Scheme Of Arrangement Amongst The Company, JSCEL And Veranda XL Learning Solutions Private Limited ('VXLS') And Their Respective Shareholders Under Sections 230 To 232 And Other Applicable Provisions Of The Companies Act, 2013 ('Scheme')
- VLS issued cost apportionment guidance after JSCEL allotted 9.65 crore shares at 1:1 on October 6, 2026.
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Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015
- JSCEL allotted 9,65,06,610 shares on Oct 7, 2026; ceased being VLS wholly owned subsidiary.
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
- Veranda names J.K. Shah Commerce Education board ahead of October 6, 2026 demerger record date.
Annual reports
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Annual Report 2026
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Annual Report 2025
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Annual Report 2024
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Annual Report 2023
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Annual Report 2022
from bse
Concalls
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Aug 2026Transcript PPT REC
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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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Nov 2024PPT
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Aug 2024PPT
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May 2024PPT
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Feb 2024Transcript PPT
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Dec 2023PPT
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Nov 2023PPT
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Aug 2023PPT
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May 2023PPT
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Feb 2023PPT
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Nov 2022PPT
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.