Veranda Learning Solutions earnings calls.

Veranda Learning Solutions delivered a solid Q1 FY26 with consolidated revenue of ₹139 croresCurrent reported value: ₹139 crores. No comparable prior figure is available in the source record. (+17Current 17 crore vs previous available quarter 52 crore.% YoY) and EBITDA of ₹55 croresCurrent ₹55 crore vs previous available quarter ₹53 crore. (near doubling YoY), marking the second consecutive quarter of profitability. The company has successfully executed its Veranda 2.0 strategy through the ₹357 crore QIP and demerger of its commerce vertical, reducing debt from ₹510 crores to ₹195 crores. The commerce vertical remains the dominant profit contributor with EBITDA guidance expanding from ₹140 crores to a projected ₹500 crores by FY30. Management targets FY26 revenue of ₹660 crores with EBITDA of ₹242 crores and PAT of ₹80-85 crores. The non-commerce segment (academics, government test prep, vocational) is expected to deliver EBITDA of over ₹60 crores while deleveraging to below 2x Debt/EBITDA by FY27. Key risks include the high-cost 17.2% acquisition debt requiring refinancing by March 2026, vocational segment restructuring outcomes, and the challenging economics of scaling K12 schools in new geographies.