ZEE Learn Limited
NSE: ZEELEARN · Education · sector
₹5.69NSE close 2026-10-26
Key numbers
Market cap₹186 cr
Price₹5.69
52w high / low₹10 / ₹4
P/E3.4xSector median 21.7x
P/B0.8xSector median 1.1x
Book value₹7.4
Dividend yield–Sector median 1.59%
ROE22.8%Sector median 2.0%
ROCE19.3%Sector median 4.0%
OPM35.5%Sector median 12.6%
Debt / equity1.44xSector median 0.04x
EV/EBITDA3.7xSector median 14.8x
Interest cover3.8x
Current ratio0.89x
Sales growth 3y+10.6%Sector median +3.9%
Profit growth 3y–Sector median +1.8%
PEG0.01x
Last 12 months to Sep 2026, Consolidated. "Sector median" = middle value of 18 companies in Education (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹60 cr vs borrowings ₹338 cr (FY26): borrowings are higher by ₹278 cr.
- Operating profit covered interest 3.8x in the last 12 months.
- 29.16% of the promoters' shares are pledged (4.4% of all shares).
- Operating cash flow was below net profit in 1 of the last 5 years (FY24).
- Net loss in 4 of the last 8 quarters.
- Revenue was higher than a year earlier in 2 of the last 4 quarters.
- Other income was 33% of net profit in the last 12 months.
- No dividend in the last 5 financial years.
- Price ₹5.69 on 2026-10-26: -43.7% from the 52-week high, +36.5% 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 ₹11.08 · low ₹4.70
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 75 | 159 | 108 | 74 | 80 | 177 | 93 | 55 |
| EBITDA | 9 | 49 | 26 | 12 | 9 | 84 | 33 | 18 |
| OPM % | 11.4% | 30.6% | 24.2% | 16.4% | 11.0% | 47.7% | 34.9% | 33.1% |
| Other income | 7 | 4 | 4 | 5 | 4 | 5 | 4 | 4 |
| Net profit | -4 | 17 | 2 | -6 | -3 | 45 | 8 | -2 |
| EPS (₹) | -0.12 | 0.52 | 0.06 | -0.19 | -0.08 | 1.39 | 0.26 | 0.11 |
| Revenue YoY | +6.6% | +11.4% | -13.9% | -26.4% | ||||
| Profit YoY | – | +169.2% | +343.2% | – |
Consolidated figures where filed. Latest quarter Sep 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 248 | 324 | 356 | 372 | 439 | 404 |
| EBITDA | 47 | -397 | 220 | 87 | 131 | 144 |
| Net profit | -3 | -443 | 163 | 13 | 39 | 49 |
| EPS (₹) | -0.08 | -13.60 | 4.99 | 0.39 | 1.18 | 1.68 |
| Revenue growth | +30.8% | +9.9% | +4.4% | +18.0% | -2.8% | |
| Profit growth | – | – | -92.2% | +202.9% | +457.6% | |
| Dividend / share (₹) | – | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +10.6% | +11.3% | -2.8% |
| Net profit | – | – | +457.6% |
| EPS | – | – | – |
| Share price | – | -21.5% (2y) | -36.6% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 18 | 183 | 196 | 235 |
| Borrowings | – | 421 | 330 | 355 | 338 |
| Cash & equivalents | – | 35 | 23 | 30 | 60 |
| Total assets | – | 1,024 | 1,084 | 1,509 | 1,593 |
| Fixed assets | – | 24 | 3 | 3 | 3 |
| Capital work in progress | – | 0 | 0 | 0 | 0 |
| Investments | – | 0 | 0 | 6 | 6 |
| Receivables | – | 26 | 38 | 41 | 47 |
| Inventory | – | 26 | 27 | 26 | 27 |
| Payables | – | 70 | 13 | 15 | 22 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 62 | 42 | 50 | 83 | 108 |
| Cash from investing | -6 | -12 | -6 | -13 | -6 |
| Cash from financing | -37 | -30 | -51 | -63 | -71 |
| Capex | 1 | 4 | 3 | 11 | 13 |
| Free cash flow | 61 | 38 | 48 | 72 | 95 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | -2,423.7% | 89.1% | 6.5% | 16.4% |
| ROCE % | – | -93.0% | 42.6% | 13.0% | 18.5% |
| Debtor days | – | 30 | 39 | 40 | 39 |
| Inventory days | – | 98 | 104 | 141 | 129 |
| Payable days | – | 262 | 49 | 80 | 105 |
| Cash conversion cycle (days) | – | -134 | 94 | 101 | 63 |
| Working capital days | – | -300 | -130 | -77 | 6 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 14.98% |
| FIIs | 6.35% |
| DIIs | 0.30% |
| of which Mutual funds | 0.00% |
| Public (non-institutions) | 78.37% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 15.01% | 15.01% | 15.01% | 15.01% | 15.01% | 15.01% | 14.98% | 14.98% |
| Promoter group | % |
|---|---|
| Essel Holdings Ltd | 8.81% |
| Jayneer Infrapower & Multiventures Private Limited | 5.16% |
| Asian Satellite Broadcast Pvt Ltd | 0.99% |
| Jayneer Enterprises Llp | 0.01% |
| Sushila Goenka | 0.00% |
| Subhash Chandra | 0.00% |
| Punit Goenka | 0.00% |
| Amit Goenka | 0.00% |
| Subhash Chandra and Sons HUF | 0.00% |
| Nand Kishore & Sons HUF | 0.00% |
| Essel Media Ventures Private Limited | 0.00% |
| Sprit Infrapower & Multiventures Private Limited | 0.00% |
| Essel Infraprojects Limited | 0.00% |
| Subhash Chandra Foundation | 0.00% |
| Edisons Infrapower & Multiventures Private Limited | 0.00% |
| Public holders above 1% | % |
|---|---|
| L&T Finance Limited | 5.66% |
| Coeus Global Opportunities Fund | 4.49% |
| Sulochana Jalan | 3.69% |
| Mansi Share & Stock Broking Private Limited | 3.30% |
| Brinda Upadhyaya | 2.14% |
| Anil Kantiprasad Poddar | 1.68% |
| Vyoman India Private Limited | 1.51% |
| Neptune Alpha Fund | 1.46% |
| Veena Investments Private Limited | 1.14% |
| Rinkoo Dalan | 1.08% |
1,51,584 shareholders. Pledged: 29.16% of promoter shares.
Peers in Education
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| NIITMTS | ₹2,661 cr | 10.4x | 1.7x | 22.8% | 20.0% | 19.5% | – | 1.54% |
| SEIL | ₹2,491 cr | 351.6x | 32.5x | 7.9% | 10.4% | 11.3% | +71.7% | – |
| NIITLTD | ₹754 cr | 113.3x | 0.7x | 1.0% | 1.4% | -4.4% | +4.6% | 1.81% |
| APTECHT | ₹457 cr | 18.7x | 1.8x | 9.8% | 15.3% | 6.0% | +3.3% | 5.71% |
| CPEDU | ₹300 cr | 12.6x | 4.0x | 31.6% | 42.7% | 51.0% | – | 1.51% |
| CLEDUCATE | ₹253 cr | – | 1.0x | -9.0% | 4.3% | 8.1% | +23.4% | – |
| ZEELEARN | ₹186 cr | 3.4x | 0.8x | 22.8% | 19.3% | 35.5% | +10.6% | – |
| GOLDENCREST | ₹170 cr | 718.2x | 15.4x | 2.2% | 2.2% | 47.1% | +7.6% | – |
| COMPUSOFT | ₹100 cr | 34.1x | 0.7x | 2.0% | 4.0% | 20.3% | -14.5% | 1.59% |
| VJTFEDU | ₹95 cr | 15.3x | 1.1x | -2.1% | – | – | -26.7% | – |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Educational services and related activities | ₹313 cr | 71.2% | ₹79 cr | 25.2% |
| Training, manpower and related activities | ₹105 cr | 23.9% | ₹-0 cr | -0.1% |
| Construction and leasing (for education) | ₹22 cr | 4.9% | ₹-19 cr | -85.9% |
| 0 | ₹0 cr | – | ₹0 cr | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2024-09-17 | Other | Annual General Meeting |
| 2023-09-18 | Other | Annual General Meeting |
| 2022-09-19 | Other | Annual General Meeting |
| 2021-09-21 | Other | Annual General Meeting |
| 2020-12-22 | Other | Annual General Meeting |
| 2019-09-17 | Dividend | Annual General Meeting/Dividend - Rs 0.10 Per Share |
| 2018-09-12 | Dividend | Annual General Meeting/Dividend Re 0.1 Per Share |
| 2017-09-19 | Dividend | Annual General Meeting/ Dividend- Re 0.05 Per Share |
| 2016-11-03 | Dividend | Interim Dividend -Re 0.05 Per Share |
| 2016-09-09 | Other | Annual General Meeting (Book Closure Dates Revised) |
| 2015-08-20 | Other | Annual General Meeting |
| 2014-07-31 | Other | Annual General Meeting |
| 2013-07-25 | Other | Annual General Meeting |
| 2012-07-30 | Other | Annual General Meeting |
| 2011-06-20 | Other | Annual General Meeting |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
| Sector | Consumer Discretionary |
| Industry | Education |
| Sub-industry | Education |
| Symbol | ZEELEARN |
| BSE code | 533287 |
| ISIN | INE565L01011 |
| Face value | ₹1.0 |
| Incorporated | – |
| Website | – |
| Plants (India / abroad) | – |
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.