Veranda Learning Q2FY27: Revenue up 17% to ₹51 Cr, PAT ₹13.4 Cr; Commerce Demerger Effective
Veranda Learning Solutions reported Q2FY27 revenue of ₹51 Cr, up 17% YoY, with PAT at ₹13.4 Cr versus a loss of ₹12.8 Cr in Q2FY26. H1FY27 revenue increased 34% YoY to ₹104 Cr. The Commerce demerger is effective, and J.K.Shah Commerce Education Limited has received in-principle listing approvals. Listing is expected shortly.
The financial results show strong growth and profitability turnaround. The effective demerger and upcoming listing of a separate entity (J.K.Shah Commerce Education Limited) are significant corporate actions that will impact the company's structure and valuation.
The company reported significant year-on-year growth in revenue and a positive shift from a loss to a profit in its PAT. The effective demerger and subsequent listing approvals for the spun-off entity also contribute positively to the outlook.
Veranda Learning Solutions Limited announced its un-audited financial results for the quarter and half-year ended September 30, 2026. The company reported a profitable growth with revenue from operations for Q2FY27 standing at ₹51 Cr, a 17% year-on-year (YoY) increase, primarily driven by a 31% YoY growth in Government Test Prep. EBITDA grew 28% YoY to ₹12.7 Cr, with the EBITDA margin expanding to 25% from 23% in Q2FY26.
Profit After Tax (PAT) for Q2 FY27 turned positive at ₹13.4 Cr, compared to a loss of ₹12.8 Cr in Q2 FY26. This includes a tax credit of ₹13.4 Cr. For the half-year ended H1FY27, revenue rose 34% YoY to ₹104 Cr, and PAT was ₹25.6 Cr against a loss of ₹24.5 Cr in H1FY26. Enrolments in H1FY27 grew 12% YoY to 41,559, and collections rose 17% YoY to ₹117 Cr.
A significant development is the effective demerger of the Commerce business, J.K. Shah Commerce Education Limited, sanctioned by the NCLT on August 20, 2026, and effective from August 31, 2026. The company has received in-principle listing approvals from NSE, BSE, and SEBI relaxation for the listing of J.K.Shah Commerce Education Limited. Shareholders as of the record date of October 6, 2026, will receive one J.K. Shah share for every Veranda share held (1:1).
The company plans to expand its Government Test Prep segment by opening three more offline centers in Tamil Nadu and centers in Mysuru and Kalaburagi (Gulbarga) in Karnataka through its partnership with Dr. Rajkumar Academy of Civil Services (DRACS). In the K12 segment, Veranda Sprouts preschool is set to launch in Perumbakkam, with admissions opening in January 2027 and the first batch starting in June 2027. The School Canvas ERP will be rolled out to parents and students.
Mr. Suresh S. Kalpathi, Chairman & Managing Director, highlighted the focus on profitable growth, a stronger balance sheet, and the strategic benefits of the demerger, expecting J.K.Shah Commerce Education Limited to list within a week. He emphasized continued focus on digital-led admissions, expanding partnerships, and driving operating leverage for sustainable growth and long-term value creation.
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Veranda Learning Solutions Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Veranda Learning Solutions Limited. Read the original for the full detail.