**1. Business Performance:** Veranda Learning had a strong Q1FY27: Revenue jumped 42% YoY to ₹150 Cr, and Profit After Tax (PAT) surged 472% to ₹34 Cr.

Enrollments rose 35% YoY to 1.03 lakh, driven by Commerce and Government Test Prep. **2. Growth Drivers or Strategy:** Strategy includes the ongoing Commerce demerger, targeting a Sep 2026 listing for sharper focus and shareholder value.

Digital admissions, expanding partnerships, and global integration of vocational segments are also key. **3. Recent Developments:** Commerce demerger progressing, NCLT orders reserved.

Launched 'Commerce Virtuals' for wider reach, expanded physical centers in Tier 2/3 towns, and introduced new Government Test Prep courses. **4. Key Financial Metrics:** Q1FY27 revenue: ₹150 Cr (+42% YoY); EBITDA: ₹54 Cr (+10% YoY); PAT: ₹34 Cr (+472% YoY). Finance costs significantly dropped 69% YoY to ₹8.1 Cr. **5. Management Commentary / Outlook:** Management expects continued growth, planning Govt.

Test Prep expansion in Karnataka, new pre-school operations, 15 new offline commerce colleges, and North/West India presence.

FY27 guidance: ₹670 Cr revenue, ₹260 Cr EBITDA.