Zee Learn Ltd

₹ 6.77 -1.02%

24 Sep - close price

About

Incorporated in 2010, Zee Learn Ltd delivers learning solutions and training through its multiple products and services school infrastructure on long-term lease agreements. It also provides education support and coaching services for students^[1]

Key Points

Business Overview:^[1]
ZLL is a part of Essel Group. They operate K-12 school, pre-schools, and vocational academies. ZLL also acts as a consultant to local entrepreneurs who wish to set-up K-12 schools and the Kidzee pre-school and provides end-to-end education management and advisory services. The group follows a structure of Company- Owned and Company Operated (COCO) and franchisee models. Over 60% of Kidzee partners are women.

Website BSE NSE

Market Cap ₹ 223 Cr.
Current Price ₹ 6.77
High / Low ₹ 10.1 / 4.17
Stock P/E 3.56
Book Value ₹ 7.76
Dividend Yield 0.00 %
ROCE 21.5 %
ROE 28.7 %
Face Value ₹ 1.00

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Pros

Stock is trading at 0.87 times its book value
Company has a good return on equity (ROE) track record: 3 Years ROE 38.4%
Market value of investments Rs.278 Cr. is more than the Market Cap Rs.223 Cr.

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Promoter holding is low: 15.0%
Contingent liabilities of Rs.157 Cr.
Promoters have pledged 29.2% of their holding.
Earnings include an other income of Rs.51.3 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 Education

Part of BSE Consumer Discretionary

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	75	34	40	104	63	38	44	128	74	39	46	154	88
	55	32	26	52	43	35	39	67	50	33	42	100	62
Operating Profit	20	2	14	51	21	3	5	61	24	6	3	54	26
OPM %	27%	5%	34%	49%	33%	7%	12%	48%	33%	16%	7%	35%	30%
	3	2	1	4	1	4	4	2	2	3	1	45	2
Interest	7	4	6	7	6	5	6	6	5	6	-5	2	2
Depreciation	1	1	1	1	1	1	1	3	2	3	3	4	4
Profit before tax	15	-1	8	47	16	1	3	55	18	1	7	93	23
Tax %	27%	48%	24%	27%	29%	10%	20%	28%	27%	34%	44%	22%	28%
	11	-2	6	34	11	1	2	40	13	0	4	73	16
EPS in Rs	0.34	-0.05	0.19	1.05	0.34	0.02	0.07	1.22	0.40	0.01	0.13	2.23	0.50
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	122	139	160	186	210	194	90	104	190	253	274	313	327
	97	107	120	114	116	94	64	69	134	166	184	225	237
Operating Profit	25	32	41	73	94	100	27	35	56	87	90	87	89
OPM %	21%	23%	25%	39%	45%	52%	29%	33%	29%	34%	33%	28%	27%
	5	3	13	15	17	24	30	-77	-372	9	12	51	51
Interest	13	14	15	13	20	25	26	24	26	23	22	8	4
Depreciation	7	6	4	3	4	9	8	5	4	4	5	11	13
Profit before tax	10	15	35	71	87	91	23	-72	-346	69	75	119	124
Tax %	0%	0%	-3%	36%	29%	25%	27%	14%	3%	28%	27%	24%
	10	15	36	46	62	69	17	-82	-358	50	54	91	94
EPS in Rs	0.30	0.47	1.13	1.40	1.89	2.10	0.51	-2.52	-10.97	1.53	1.66	2.77	2.87
Dividend Payout %	0%	0%	9%	7%	5%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	8%
5 Years:	28%
3 Years:	18%
TTM:	15%

Compounded Profit Growth
10 Years:	15%
5 Years:	29%
3 Years:	12%
TTM:	12%

Stock Price CAGR
10 Years:	-15%
5 Years:	-15%
3 Years:	11%
1 Year:	-29%

Return on Equity
10 Years:	16%
5 Years:	22%
3 Years:	38%
Last Year:	29%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	32	32	32	33	33	33	33	33	33	33	33	33
Reserves	202	219	264	321	380	445	464	382	25	75	130	221
	115	137	127	133	181	199	209	203	202	199	214	173
	60	59	81	124	174	169	150	157	177	421	794	863
Total Liabilities	410	447	504	611	768	845	855	775	436	728	1,171	1,290
	9	4	6	5	6	27	18	9	6	8	24	34
CWIP	4	5	0	0	2	0	0	0	0	0	0	0
Investments	336	354	360	336	602	602	602	602	343	341	345	345
	61	82	137	270	159	217	235	165	86	378	802	912
Total Assets	410	447	504	611	768	845	855	775	436	728	1,171	1,290

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	30	24	72	104	99	81	18	54	36	54	83	105
	-31	-36	-43	-106	-141	-55	-9	-14	-12	-6	-21	-12
	-6	15	-23	5	36	-34	-9	-21	-25	-49	-56	-61
Net Cash Flow	-7	3	6	3	-6	-9	-0	18	-2	-1	5	32
Free Cash Flow	27	22	71	102	94	78	17	53	34	52	72	93
CFO/OP	125%	81%	189%	175%	136%	102%	82%	183%	80%	90%	121%	149%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	21	20	21	15	40	34	64	37	21	28	25	28
Inventory Days	320	111	155	85	121	232	261	86	168			136
Days Payable	155	93	141	73	219	220	477	292	68			82
Cash Conversion Cycle	186	38	35	27	-58	46	-151	-170	122	28	25	82
Working Capital Days	-265	-57	-142	-108	2	-210	-519	-570	-303	-165	-100	-29
ROCE %	7%	8%	12%	19%	20%	18%	7%	9%	15%	33%	28%	22%

Insights

In beta

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Operational K-12 Schools (Mount Litera Zee School)
schools

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xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx			xxx,xxx		xxx,xxx
						xxx	xxx	xxx	xxx
						xx		x	xx

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Operational Preschools (Kidzee)
centers

Permanent Employees (Standalone)
employees

Total Cities Covered (Pan-India)
cities

Operational Vocational Centers (ZICA)
centers

Total Students Served (Annual, across network)
students

Pre-operational Preschools (Kidzee Pipeline)
centers

Pre-operational K-12 Schools (MLZS Pipeline)
schools

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	15.05%	15.05%	15.05%	15.05%	15.01%	15.01%	15.01%	15.01%	15.01%	15.01%	15.01%	14.98%
	10.59%	5.99%	5.99%	5.99%	5.98%	6.38%	6.41%	6.45%	6.57%	6.39%	6.38%	6.51%
	0.01%	0.01%	0.01%	0.01%	0.03%	0.03%	0.00%	0.00%	0.00%	0.17%	0.22%	0.30%
	74.34%	78.94%	78.95%	78.94%	78.98%	78.58%	78.58%	78.54%	78.42%	78.44%	78.38%	78.20%
No. of Shareholders	1,51,847	1,48,626	1,43,440	1,41,494	1,49,041	1,63,228	1,68,849	1,66,721	1,61,318	1,58,348	1,56,021	1,54,521

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	66.85%	57.55%	57.18%	57.17%	26.17%	18.62%	15.05%	15.05%	15.01%	15.01%	14.98%
	21.81%	24.22%	24.34%	23.56%	21.60%	15.15%	11.41%	5.99%	6.41%	6.38%	6.51%
	0.22%	0.05%	0.15%	0.01%	0.40%	0.01%	0.01%	0.01%	0.00%	0.22%	0.30%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%
	11.12%	18.19%	18.34%	19.25%	51.84%	66.21%	73.53%	78.95%	78.58%	78.38%	78.20%
No. of Shareholders	81,308	1,13,122	1,00,496	94,778	1,09,671	1,54,551	1,57,629	1,43,440	1,68,849	1,56,021	1,54,521

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Concalls

Nov 2019
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Aug 2019
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Oct 2018
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Aug 2018
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May 2018
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Jan 2018
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Apr 2017
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Jan 2017
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Oct 2016
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