Chennai, October 28, 2025 — Veranda Learning Solutions Limited (BSE: 543514, NSE: VERANDA), a publicly listed education company offering end-to-end learning solutions, reported robust financial performance for Q2FY26, with revenue from operations rising 20% year-on-year to ₹126.7 crore. The company posted a 63% YoY increase in EBITDA to ₹48.3 crore and a 185% surge in profit after tax (PAT) to ₹23.3 crore, underscoring strong operational momentum and strategic execution.
The quarter saw a 26% rise in collections, driven by the launch of new high-ticket programs and the addition of approximately 45,000 students. Revenue growth was supported by AI-focused courses, B2B corporate training, and strategic partnerships with universities and corporates. Operational efficiency improved through process standardization, resource cross-leveraging, and cost optimization across business units.
Veranda’s EBITDA margin expanded by 1017 basis points to 38%, reflecting disciplined cost control and operating leverage. Marketing and corporate costs were significantly reduced, contributing to improved profitability. The company also divested its vocational segment, generating a one-time gain of ₹133 crore, while absorbing associated amortization and processing costs as part of exceptional items.
In parallel, Veranda redeemed ₹315 crore worth of non-convertible debentures (NCDs), incurring a one-time finance cost of ₹6.4 crore. These strategic moves helped streamline the balance sheet and reinforce the company’s asset-light model.
For H1FY26, revenue stood at ₹232.4 crore, up 20% YoY, while PAT reached ₹26.1 crore, marking a 150% increase over H1FY25. The company completed its maiden Qualified Institutional Placement (QIP), raising ₹357 crore, of which 87% was used to repay high-interest debt, making the Commerce vertical debt-free and enabling further investment in technology and operations.
Veranda also announced the demerger of its Commerce brands into a new entity — JK Shah Commerce Education Ltd — giving shareholders mirror holdings in India’s leading commerce test prep brand. The new entity will be debt-free and growth-ready, while the parent company retains a manageable ₹224 crore debt and refocuses on scaling its K-12 business.
Segment-wise, the Commerce Test Prep vertical led growth with ₹86 crore in Q2FY26 revenue, up 68% YoY. Government Test Prep posted ₹33 crore in revenue, while the Academic segment contributed ₹7 crore. EBITDA for Commerce Test Prep stood at ₹41 crore, up 63% YoY, while Government Test Prep delivered ₹6 crore and Academic ₹5 crore.
Looking ahead to Q3FY26, Veranda plans to expand JEE/NEET offerings, enhance faculty capabilities, accelerate digital-led admissions, and deepen university and corporate partnerships. The company will also introduce high-value courses and optimize marketing efforts to sustain growth and create long-term value.
“Our Q2 and H1 performance reflects the success of our strategic expansion and operational excellence,” said Mr. Suresh S. Kalpathi, Executive Director and Chairman, Veranda Learning Solutions. “With the commerce demerger and vocational divestment complete, we are now better positioned to scale our core verticals and deliver sustainable growth.”
