Veranda Learning SOL Ltd

NSE: VERANDA · E-Learning · sector

₹30.72NSE close 2026-10-26

Key numbers

Market cap₹296 cr

Price₹30.72

52w high / low₹272 / ₹27

P/E2.0xSector median 14.3x

P/B0.3xSector median 2.2x

Book value₹99.5

Dividend yield–Sector median 0.44%

ROE23.7%Sector median 10.2%

ROCE18.8%Sector median 17.8%

OPM52.0%Sector median 36.6%

Debt / equity0.31xSector median 0.02x

EV/EBITDA2.1xSector median 13.1x

Interest cover4.1x

Current ratio0.69x

Sales growth 3y+44.0%Sector median +10.8%

Profit growth 3y–Sector median +86.7%

PEG–

Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 6 companies in E-Learning (P/E median leaves out loss-making companies). Tap ? for what a number means.

Things to know

Cash ₹30 cr vs borrowings ₹301 cr (FY26): borrowings are higher by ₹271 cr.
Operating profit covered interest 4.1x in the last 12 months.
69.51% of the promoters' shares are pledged (22.7% of all shares).
Promoter holding fell by 1.31 percentage points in a year, to 32.65% (2026-09-30).
Operating cash flow was below net profit in 1 of the last 4 years (FY26).
Net loss in 3 of the last 8 quarters.
Revenue was higher than a year earlier in 3 of the last 4 quarters.
Other income was 15% of net profit in the last 12 months.
Debtor days went from 39 (FY24) to 25 (FY26).
No dividend in the last 4 financial years.
Price ₹30.72 on 2026-10-26: -88.7% from the 52-week high, +14.2% from the 52-week low.

Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.

Charts

Weekly close · high ₹318.20 · low ₹30.72

Quarterly results

₹ cr	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	139	99	114	139	127	117	132	150
EBITDA	29	-33	20	37	136	42	43	52
OPM %	20.6%	-32.9%	17.3%	26.7%	107.6%	36.0%	32.4%	34.7%
Other income	2	-1	39	17	2	10	7	2
Net profit	-30	-194	5	-1	96	10	9	29
EPS (₹)	-4.22	-27.15	0.68	-0.09	10.61	1.08	0.92	3.03
Revenue YoY					-8.6%	+17.8%	+16.0%	+7.4%
Profit YoY					–	–	+82.9%	–

Consolidated figures where filed. Latest quarter Jun 2026.

Profit & loss (yearly)

₹ cr	FY23	FY24	FY25	FY26	TTM
Revenue	161	362	471	482	525
EBITDA	-72	54	36	253	273
Net profit	-79	-80	-247	106	144
EPS (₹)	-13.65	-12.05	-34.73	11.84	15.64
Revenue growth		+124.2%	+30.2%	+2.3%	+7.0%
Profit growth		–	–	–	–
Dividend / share (₹)	–	–	–	–

Compounded growth	3 years	5 years	Last 12 months
Sales	+44.0%	–	+7.0%
Net profit	–	–	–
EPS	–	–	–
Share price	–	-64.7% (2y)	-85.7%

Balance sheet

₹ cr	FY23	FY24	FY25	FY26
Shareholders' equity	306	377	257	958
Borrowings	231	452	513	301
Cash & equivalents	87	29	76	30
Total assets	892	1,633	1,880	1,832
Fixed assets	14	146	153	96
Capital work in progress	0	1	0	0
Investments	0	0	4	5
Receivables	6	39	46	34
Inventory	1	2	3	3
Payables	28	51	60	39

Year-end figures from the March annual filing.

Cash flow

₹ cr	FY23	FY24	FY25	FY26
Cash from operations	15	27	32	105
Cash from investing	-424	-232	-49	-102
Cash from financing	445	141	51	-26
Capex	91	13	15	14
Free cash flow	-76	13	17	91

Free cash flow = cash from operations − capex.

Ratios by year

₹ cr	FY23	FY24	FY25	FY26
ROE %	-25.9%	-21.1%	-96.2%	11.0%
ROCE %	-14.7%	-0.4%	-15.9%	18.4%
Debtor days	12	39	36	25
Inventory days	142	131	110	62
Payable days	3,064	2,690	2,168	828
Cash conversion cycle (days)	-2,910	-2,520	-2,022	-741
Working capital days	70	-406	-269	-48

Shareholding

Holder	% (2026-09-30)
Promoters	32.65%
FIIs	2.73%
DIIs	0.12%
Government	0.00%
Public (non-institutions)	64.49%

Quarter	Jul 2025	Jul 2025	Sep 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Promoters %	50.31%	41.78%	33.96%	33.96%	33.96%	33.80%	33.75%	32.65%

Promoter group	%
Kalpathi S Aghoram	10.25%
Kalpathi S Ganesh	10.25%
Kalpathi S Suresh	10.24%
Tuticorin Energy LLP	1.24%
Kalpathi G Ajith	0.21%
Kalpathi A. Archana	0.10%
Kalpathi S Abishek	0.10%
Kalpathi Aghoram Aishwarya	0.10%
Abinaya K Suresh	0.10%
Tripleone Developments Private Limited	0.03%
Mahadevan Venkatachalam	0.01%
Andal Aghoram	0.00%
Meenakshi Suresh	0.00%
Mahalakshmi Ganesh	0.00%
Venkatachalam Girija	0.00%

Public holders above 1%	%
Authum Investment and Infrastructure Limited	9.88%
Parmar Developers and Properties Private Limited	2.84%
Amrit Ramana Prasad	2.77%
Ramana Prasad A S	2.77%
Mundhra Homes Private Limited	2.35%
Jitendra Kantilal Shah	2.09%
GKK Capital Markets Private Limited	1.84%
Prabhu .	1.65%
Ujwal Kumar Pagariya	1.47%
Bhanwar LAL Borana	1.23%

13,117 shareholders. Pledged: 69.51% of promoter shares.

Peers in E-Learning

Company	Market cap	P/E	P/B	ROE	ROCE	OPM	Sales 3y	Div yield
PWL	₹36,215 cr	1,040.3x	8.0x	0.5%	3.8%	8.2%	–	–
JARO	₹805 cr	13.9x	2.2x	15.7%	21.2%	25.8%	–	0.54%
VERANDA	₹296 cr	2.0x	0.3x	23.7%	18.8%	52.0%	+44.0%	–
SAFE	₹84 cr	24.3x	7.4x	35.3%	36.2%	55.1%	–	0.34%
JETKINGQ	₹67 cr	6.8x	1.5x	0.8%	-6.2%	-21.3%	+10.8%	–
UMESLTD	₹5 cr	14.6x	2.2x	4.7%	16.7%	47.4%	+3.9%	–

All 6 companies in E-Learning →

Business segments (FY26)

Segment	Revenue	Share	EBIT	Margin
Commerce	₹335 cr	63.9%	₹145 cr	43.4%
Government test preparation	₹115 cr	21.9%	₹5 cr	4.0%
Managed school services	₹33 cr	6.3%	₹26 cr	79.4%
Others	₹31 cr	5.8%	₹-14 cr	-45.1%
Vocational education	₹11 cr	2.1%	₹4 cr	40.8%

Dividends & corporate actions

Ex-date	Action	Detail
2026-10-06	Restructuring	Demerger

Documents

Links go to the original files on the exchange website.

About the company

Management Support Services: Engage in planning, strategising and liaisoning for various stakeholders


Sector	Consumer Discretionary
Industry	E-Learning
Sub-industry	E-Learning
Symbol	VERANDA
BSE code	543514
ISIN	INE0IQ001011
Face value	₹10.0
Incorporated	2018-11-20
Website	https://www.verandalearning.com/web/index.php
Plants (India / abroad)	0 / 0

From the company's filings (BRSR FY26).

Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.