VERANDA

Veranda Learning Solutions Limited

Commerce education, government exam coaching and K-12 academic services provider

Consumer Discretionary›Consumer Services›Other Consumer Services›E-Learning

verandalearning.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹39.68
Market cap
381 Cr
Stock P/E
2.6
P/B
0.40
ROE (FY26)
11.0%
ROCE (FY26)
18.4%
Operating margin (FY26)
22.5%
Debt / equity (FY26)
0.31
OCF / EBITDA (FY26)
62.8%
OCF / EBITDA (3Y)
63.5%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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What you need to know

Veranda Learning sells commerce coaching (including the J.K. Shah Classes brand), government-exam coaching and managed-school services to students, colleges and schools across India.

Company snapshot

3rdBy market cap

Ranked among 5 companies in E-Learning.

What we see

Positives
  • ✓Net margin of 26.9% — the business keeps a healthy share of every rupee it earns.
Concerns
  • ✗Interest coverage of 1.4x — earnings barely cover interest payments, which is a warning sign.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales98 Cr92 Cr103 Cr119 Cr139 Cr99 Cr114 Cr139 Cr127 Cr117 Cr132 Cr150 Cr
Operating expenses (approx.)84 Cr78 Cr81 Cr99 Cr110 Cr132 Cr94 Cr102 Cr81 Cr75 Cr85 Cr98 Cr
EBITDA15 Cr14 Cr21 Cr20 Cr29 Cr-33 Cr20 Cr37 Cr46 Cr42 Cr47 Cr52 Cr
OPM %15.1%14.9%20.9%17.0%20.6%-32.9%17.3%26.7%36.4%36.0%35.5%34.7%
Other income2 Cr4 Cr1 Cr7 Cr2 Cr-0.77 Cr39 Cr17 Cr2 Cr10 Cr7 Cr2 Cr
Interest10 Cr20 Cr40 Cr30 Cr33 Cr33 Cr36 Cr31 Cr19 Cr13 Cr15 Cr11 Cr
Depreciation6 Cr18 Cr23 Cr22 Cr24 Cr140 Cr18 Cr16 Cr14 Cr15 Cr15 Cr14 Cr
Profit before tax0.27 Cr-20 Cr-39 Cr-25 Cr-27 Cr-206 Cr5 Cr8 Cr103 Cr20 Cr24 Cr30 Cr
Tax %659.9%18.2%2.0%-2.1%-12.3%1.6%-56.8%23.4%6.8%36.1%33.9%-11.4%
Net profit-2 Cr-17 Cr-39 Cr-25 Cr-30 Cr-203 Cr8 Cr6 Cr96 Cr13 Cr16 Cr34 Cr
EPS (₹)₹-0.24₹-2.49₹-5.93₹-3.78₹-4.22₹-27.15₹0.68₹-0.09₹10.61₹1.08₹0.92₹3.03

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales3 Cr75 Cr161 Cr362 Cr471 Cr482 CrSign in free for the trailing twelve months
Operating expenses (approx.)10 Cr115 Cr234 Cr308 Cr435 Cr315 CrSign in free for the trailing twelve months
EBITDA-8 Cr-40 Cr-72 Cr54 Cr36 Cr167 CrSign in free for the trailing twelve months
OPM %-300.5%-52.8%-44.8%14.9%7.6%34.6%Sign in free for the trailing twelve months
Other income0.0050 Cr0.55 Cr39 Cr8 Cr47 Cr37 CrSign in free for the trailing twelve months
Interest0.03 Cr8 Cr10 Cr78 Cr132 Cr78 CrSign in free for the trailing twelve months
Depreciation0.63 Cr14 Cr45 Cr65 Cr206 Cr58 CrSign in free for the trailing twelve months
Profit before tax-8 Cr-61 Cr-89 Cr-81 Cr-255 Cr154 CrSign in free for the trailing twelve months
Tax %0.1%4.4%11.4%6.3%1.2%15.6%Sign in free for the trailing twelve months
Net profit-8 Cr-58 Cr-79 Cr-76 Cr-252 Cr130 CrSign in free for the trailing twelve months
EPS (₹)₹-7.29₹-16.96₹-13.65₹-12.05₹-34.73₹11.84Sign in free for the trailing twelve months
Dividend payout %—————0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital7 Cr41 Cr62 Cr69 Cr74 Cr96 Cr
Reserves-0.03 Cr36 Cr244 Cr308 Cr183 Cr862 Cr
Borrowings6 Cr203 Cr231 Cr452 Cr513 Cr301 Cr
Other liabilities1 Cr101 Cr355 Cr805 Cr1,109 Cr573 Cr
Total liabilities14 Cr381 Cr892 Cr1,633 Cr1,880 Cr1,832 Cr
Fixed assets (net)1 Cr1 Cr14 Cr146 Cr153 Cr96 Cr
CWIP—0 Cr0.08 Cr0.71 Cr0.30 Cr0.16 Cr
Investments4 Cr0 Cr0.01 Cr51 Cr50 Cr440 Cr
Loans & advances—0 Cr0 Cr9 Cr9 Cr0.58 Cr
Inventories—0.64 Cr1 Cr2 Cr3 Cr3 Cr
Trade receivables2 Cr3 Cr6 Cr39 Cr46 Cr34 Cr
Cash & bank0.07 Cr49 Cr85 Cr20 Cr54 Cr30 Cr
Other assets7 Cr327 Cr786 Cr1,366 Cr1,565 Cr1,229 Cr
Total assets14 Cr381 Cr892 Cr1,633 Cr1,880 Cr1,832 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity-5 Cr-61 Cr15 Cr27 Cr32 Cr105 Cr
Cash from investing-6 Cr—-424 Cr-232 Cr-49 Cr-102 Cr
Cash from financing12 Cr—445 Cr141 Cr51 Cr-26 Cr
Net cash flow0.42 Cr-61 Cr36 Cr-65 Cr34 Cr-24 Cr
Free cash flow (OCF − Capex)-10 Cr—-76 Cr13 Cr17 Cr91 Cr

Ratios

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %-9.7%-18.9%-14.7%-0.4%-15.9%18.4%
ROE %-17.9%-76.0%-25.9%-21.1%-96.2%11.0%
Debtor days2891712393625
Inventory days—31523988113782664718353
Days payable14017432985849232960527585243277
Cash conversion cycle149-171160-81848-221543-500903-224899
OCF / EBITDA %———49.4%88.1%62.8%
OCF / EBITDA % (3 years)————n.m.63.5%
Debt / equity0.872.640.751.202.000.31
Current ratio1.320.901.300.290.400.69
Net debt / EBITDA———8.0012.801.63