VERANDAConsumer Discretionary

Veranda Learning Solutions Limited

E-Learning · ISIN INE0IQ001011 · BSE 543514 · NSE EQ · FV ₹10
Last price
₹215
-1.56%today
What this company does

Veranda Learning Solutions Limited operates in E-Learning, part of the Consumer Discretionary sector. It booked ₹150 cr of revenue in its latest quarter (Q1 FY27) and kept 19.5% of sales as profit. It is the 2nd largest of 3 E-Learning companies we track, by market value.

In the report:
57out of 100
Equitytale Health Score
Mixed

Healthier than 57% of companies in Consumer Discretionary, on all six measures of filed financials. Each measure is ranked against the 69–421 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
31

At close. Not part of the score.

Profitability & returns65

How much profit it earns on the money it employs

Balance sheet45

How much it owes, and whether earnings cover the interest

Cash quality57

Whether reported profit actually arrives as cash

Growth & consistency72

Whether sales and profit have grown, and how steadily

Valuation52

What today's price implies, against our models or its peers

Governance & risk50

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
Strengths
Makes a profit
Strong 19% net margin
Sales up 7% vs last year
Watch-outs
! 30.5% of promoter stake pledged
! Operating cash flow is negative

What if I invest in VERANDA?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 15% a year, it would become
₹26.30 lakh

The slider starts at 15%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹215 -1.56%
latest close · 2026-09-17
52-wk low ₹12597 sessions so far52-wk high ₹298
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio17.7Average
LowAverageHigh
P/B ratio2.16Moderate
Below bookModerateHigh
EV / EBITDA10.9Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity12.2%Fair
WeakFairStrong ▸15%
Return on capital9.7%Fair
WeakFairStrong
Net margin19.5%Strong
ThinDecentStrong
EBITDA margin36.0%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.31Comfortable
LowModerateHigh ▸1
Interest cover3.6×Okay
RiskyOkayStrong ▸5×
Current ratio0.69Tight
Tight ◂1HealthyAmple
More figures
Market cap
₹2,067 cr
Book value
₹99
EPS
₹3.03
latest quarter
Net debt
₹271 cr
owes more than its cash
Enterprise value
₹2,338 cr
EBITDA
₹215 cr
annualised
EBIT
₹158 cr
annualised
Operating margin
26.4%
Return on assets
6.4%
Earnings yield
5.65%
P/S
3.46
Sales / share
₹62.1
Tax rate
-12.1%
Face value
₹10
Shares
9.6 cr
Working capital
₹-64 cr
Current assets
₹139 cr
Current liabilities
₹203 cr
Delivery %
56.5%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2026 report & filings
not investment advice
Hard to value confidentlyLow confidence
Too few reliable models — the filings don't support two independent estimates of value.
Models span ₹72₹72, midpoint ₹72

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹150 cr
Other Income₹2 cr
Total Income₹151 cr
Cost of Materials₹0.09 L
Purchases of Stock-in-Trade₹8 cr
Inventory Change (±)₹-61.6 L
Employee Benefit Expense₹17 cr
Finance Costs₹11 cr
Depreciation & Amortisation₹14 cr
Other Expenses₹73 cr
Total Expenses₹123 cr
Profit before Tax₹29 cr
Tax Expense₹-3 cr
Share of JV / Associates₹2 cr
Net Profit₹34 cr
Net margin on total income22.4%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹7 cr4.6%
Employee benefit expense₹17 cr11.0%
Finance costs₹11 cr7.0%
Depreciation & amortisation₹14 cr9.2%
Other expenses₹73 cr46.7%
Profit for the period₹34 cr21.6%
Total income ₹151 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue117 cr132 cr150 cr
Total income127 cr140 cr151 cr
Expenses103 cr115 cr123 cr
Profit before tax24 cr21 cr29 cr
Tax7 cr8 cr-3 cr
Net profit (owners' share)10 cr9 cr29 cr
Net margin (owners' share, on revenue)8.9%6.7%19.5%
EPS (₹)1.080.923.03
YoY (latest quarter): total income -3.3% · net profit
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹1,832 cr
Shareholder equity
₹958 cr
parent shareholders
Total debt
₹301 cr
Cash
₹30 cr
Cash flow · H1 FY26
Operating
₹-43 cr
Investing
₹15 cr
Financing
₹-16 cr
Peer comparison
E-Learning · by market value
CompanyPriceMarket capP/E
Physicswallah Limited₹128₹37,074 cr
Veranda Learning Solutions Limitedthis company₹215₹2,067 cr17.7
Jaro Institute of Technology Management and Research Limited₹471₹1,030 cr23.0
Usha Martin Education & Solutions Limited₹4102.0
Same industry · latest reported numbers · not a recommendation.
Who owns it · 2026-06-30
30.4% pledged
Promoter
33.8%
FII / Foreign
2.8%
DII / Domestic
0.6%
Retail / others
62.9%
Promoter stake down 21.0% over the last 12 quarters.
Smart-money activity
Insider trades
SoldRAVI MEGALA · Immediate relative11,000 · ₹22.1 L24 Jun 24
SoldAshish Lodha · Employees/Designated Employees9,500 · ₹17.3 L13 Jun 24
SoldRAVI MEGALA · Immediate relative8,000 · ₹12.8 L5 Jun 24
Bulk / block deals
short · NSE2,2005 Aug 26
short · NSE116 Jul 26
short · NSE12 Jul 26
Stake changes
SoldAuthum Investment & Infrastructure Limited→ 11.66% · 30.48 L14 May 26
SoldKalpathi S Aghoram · promoter→ 7.24% · 4.00 L27 Mar 26
SoldKalpathi S Ganesh · promoter→ 7.24% · 4.00 L27 Mar 26
Promoter pledges
PledgedRBL Bank Limited5.00 L · 2.61% held20 Mar 26
PledgedSB/ Cap Trustee Company Limited acting as the security trustee on behalf of City Union Bank Limited2.00 L · 2.40% held11 Mar 26
PledgedRBL bank Ltd13.00 L · 0.00% held2 Mar 26
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 29 Sep 2025
See the official result
1
To receive, consider and adopt (a) the Audited Standalone Financial Statement of the Company for the Financial Year Ended March 31, 2025, together with the Reports of Board of Directors and Auditors thereon, and (b) the Consolidated Financial Statement of the Company for the Financial Year Ended March 31, 2025, together with the Report of Auditors thereon
Backed by 100% of shareholders other than promotersneeded 50%
12.22 L votes for, 0 against · 0% of mutual funds and other big investors said no
2
To appoint Mr. Kalpathi S Ganesh (DIN: 00526451) who retires by rotation as a director
Backed by 100% of shareholders other than promotersneeded 50%
12.22 L votes for, 2 against · 0% of mutual funds and other big investors said no
3
To appoint and fix the remuneration of Secretarial Auditors
Backed by 100% of shareholders other than promotersneeded 50%
12.22 L votes for, 2 against · 0% of mutual funds and other big investors said no
4
To approve the borrowing limit by way of issuance of Non-Convertible Debentures / bonds/ other instruments up to Rs. 50 Crores
Backed by 100% of shareholders other than promotersneeded 75%
12.22 L votes for, 62 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 40 named members
owning 33.7% between them · as of 2026-06-30
KALPATHI S AGHORAM10.62%
KALPATHI S GANESH10.62%
KALPATHI S SURESH10.60%
TUTICORIN ENERGY LLP1.25%
KALPATHI G AJITH0.21%
ABINAYA K SURESH0.10%
KALPATHI A. ARCHANA0.10%
KALPATHI AGHORAM AISHWARYA0.10%
Business done with them
FY2026 · 4 of the group
The company paid ₹64 cr to companies in the promoter group last year — about 13.3% of its ₹482 cr revenue and received ₹36 cr back from them.
Kalpathi S Suresh
Other payments to them · Refer “Disclosure of notes on related party explanatory [TextBlock]”
also owns 10.60% of the company
₹18 cr
company paid
Kalpathi S Ganesh
Other payments to them · Refer “Disclosure of notes on related party explanatory [TextBlock]”
also owns 10.62% of the company
₹18 cr
company paid
Kalpathi S Aghoram
Other payments to them · Refer “Disclosure of notes on related party explanatory [TextBlock]”
also owns 10.62% of the company
₹18 cr
company paid
SSI VENTURES PRIVATE LIMITED
Other payments to them · Refer “Disclosure of notes on related party explanatory [TextBlock]”
₹11 cr
company paid
SSI VENTURES PRIVATE LIMITED
Contribution received from them · Refer “Disclosure of notes on related party explanatory [TextBlock]”
₹11 cr
company received
Kalpathi S Suresh
Contribution received from them · Refer “Disclosure of notes on related party explanatory [TextBlock]”
also owns 10.60% of the company
₹8 cr
company received
Kalpathi S Aghoram
Contribution received from them · Refer “Disclosure of notes on related party explanatory [TextBlock]”
also owns 10.62% of the company
₹8 cr
company received
Kalpathi S Ganesh
Contribution received from them · Refer “Disclosure of notes on related party explanatory [TextBlock]”
also owns 10.62% of the company
₹8 cr
company received
SSI VENTURES PRIVATE LIMITED
Contribution made to them · Refer “Disclosure of notes on related party explanatory [TextBlock]”
₹8.5 L
company paid

The company also transacted with 18 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹357 cr raised in Jul 2025 by selling shares to large investors

As of Sep 2025, the company says it has spent 100% of what it set aside. Brickwork Ratings India Private Limited watches the spending on the exchange’s behalf.

Redemption in part or in full of senior, secured, unlisted, redeemable, non-convertible debentures issued by our subsidiary, Veranda XL Learning Solutions Private Limited including interest payable, in part or full
100%
₹310 cr of ₹310 cr
General Corporate Purposes
100%
₹40 cr of ₹40 cr
Expenses of the Issue (Inclusive of GST)
100%
₹7 cr of ₹7 cr

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.