Here's a summary of Veranda Learning Solutions' investor presentation: **1. Business Performance:** Veranda Learning delivered a strong FY26, with revenue up 35% YoY to 482 Cr and EBITDA jumping 135% to 204 Cr.

The company achieved its first full-year PAT-positive results since listing, reporting 129.7 Cr profit versus a loss in FY25. All segments, including online and offline, showed solid traction. **2. Growth Drivers or Strategy:** A key strategic move is the demerger of its Commerce segment, JK Shah Commerce Education, expected by mid-July.

This initiative aims for 3-4x revenue growth in Commerce over 3-4 years, targeting 1,000+ Cr revenue by FY30 through product and geographical expansion. **3. Recent Developments:** Veranda launched Commerce Virtuals for Class 11 & 12 and new courses in Government Test Prep.

Shareholder approval for the Commerce demerger is secured, with final NCLT approval awaited.

Its vocational segment was also divested into a 50:50 joint venture with SNVA EduTech for global market reach. **4. Key Financial Metrics:** FY26 Revenue: 482 Cr (+35% YoY). FY26 EBITDA: 204 Cr (+135% YoY). FY26 PAT: 129.7 Cr (vs -251.6 Cr in FY25). Total enrollments grew 21% to 256,791. **5. Management Commentary / Outlook:** Management forecasts FY27 revenue of 670 Cr, EBITDA of 260 Cr, and PAT of 144 Cr.

The demerged Commerce entity aims for 1,000+ Cr revenue by FY30. Non-commerce growth targets South India expansion, while the SNVA JV eyes 250+ Cr revenue in FY27.