Veranda Learning Solutions Ltd. · NSE:VERANDA
Veranda Learning Solutions — H1 FY23 Earnings Presentation
36 slides from Veranda Learning Solutions's earnings presentation, Nov 13, 2022
Slide 1: Exchange letter: Press Release and Investor Presentation
Veranda Learning Solutions Limited (formerly Veranda Learning Solutions Private Limited) (formerly Andromeda Edutech Private Limited) 12th November, 2022 BSE Limited National Stock Exchange of India Limited Dept of Corporate Services, The Listing Department, Phiroze Jeejeebhoy Towers, Exchange Plaza
Slide 2: Veranda Learning Solutions reports robust growth in Q2 & H1 FY23
Press Release Veranda Learning Solutions reports robust growth in Q2 & H1 FY23 Chennai, November 12th, 2022: Veranda Learning Solutions Limited (“Veranda” BSE: 543514, NSE: VERANDA), a publicly listed company announced its financial results for the quarter and half year ended September 30, 2022. Key
Slide 3: Consolidated Financial Highlights
Consolidated Financial Highlights: Particulars (Rs. Million) Q2FY23 Q2FY22 Q1FY23 H1FY23 H1FY22 FY22 Total Revenue 387.70 107.92 286.31 674.01 156.60 756.02 Gross Profit 150.64 44.70 118.98 269.62 66.48 293.07 Gross Profit Margin (%) 40.84% 42.18% 42.21% 41.43% 42.99% 39.05% Operating Expenses Advt
Slide 4: Key Partnerships & Achievements (continued)
institute, J. K. Shah Classes. The acquisition is for consideration of Rs. 337.82 crores and will be funded through a combination of debt and equity. Additionally, at end of October 2022, the company acquired 61.7% of the issued and paid-up share capital of J. K. Shah Classes. Partnered with TNSDC t
Slide 5: Company Contact and Investor Relations
Company Contact: Investor Relations: Mr. Abhishek Bhatt Mrs. Saradha Govindarajan, CFO Ms. Mahalakshmi Venkatachalam Veranda Learning Solutions Limited Ernst & Young LLP Abhishek.bhatt3@in.ey.com saradha.g@verandalearning.com Mahalakshmi.venkatachalam@in.ey.com Visit us at www.verandalearning.com |
Slide 6: Veranda Learning Solutions
Veranda Learning Solutions Affordability | High-quality Content | Outcome-oriented Approach Investor Presentation | November 2022
Slide 7: Safe Harbor
Safe Harbor • This presentation and the following discussion may contain “forward looking statements” by Veranda Learning Solutions Limited (“Veranda Learning” or the Company) that are not historical in nature. These forward looking statements, which may include statements relating to future results
Slide 8: Agenda
Agenda 01 Result Highlights 02 Company Overview 03 Growth Strategy 04 Industry Overview 05 Financials
Slide 9: Q2 & H1 FY23 Performance
Q2 & HI FY23 Performance eeocccccccce ecceeccceeee
Slide 10: Key Financial & Business Highlights
Key Financial & Business Highlights Total Revenue Gross Profit Key Business Highlights Q2FY23 Q2FY23 Acquired J K Shah Classes Consolidated YoY Growth % Consolidated YoY Growth % ₹388 Mn 259% ₹151 Mn 237% Successful Fund Raise of ~ Rs. 270 crores H1FY23 H1FY23 Expanding Presence - Signed 59 New Edur
Slide 11: From the Chairman's Desk
From the Chairman’s Desk Commenting on the results, Mr. Kalpathi. S. Suresh, Executive Director and Chairman, Veranda Learning Solutions, said “We are pleased to report a strong second quarter which reinforces our commitment to take quality and affordable learning to the masses. With our growth stra
Slide 12: Consolidated P&L Highlights
Consolidated P&L Highlights Particulars Q2 FY23 Q2 FY22 Q1FY23 H1FY23 H1FY22 FY22 Total Revenue 387.70 107.92 286.31 674.01 156.60 756.02 Gross Profit* 150.64 44.70 118.98 269.62 66.48 293.07 Gross Profit Margin (%) 40.84% 42.18% 42.21% 41.43% 42.99% 39.05% Advertisement & Business Promotion 106.89
Slide 13: Veranda Company Overview
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Slide 14: Veranda Learning – A Quick Glance
Veranda Learning – A Quick Glance Veranda Learning Solutions is engaged in the business of offering diversified and integrated learning solutions in online, offline hybrid and offline blended formats to students, aspirants, and graduates professionals and corporate employees Promoters have a collect
Slide 15: Our Journey so far
Our Journey so far Acquisition of J. K. Shah Classes & Public Lisitng Launch of Edureka Learning Key Acquisitions Centre (ELC) • Apr’22: Listing on • May’22: Launched Edureka Learning Centre BSE & NSE • Oct’22: Acquired J. K. Shah Classes • July’21: Launched CA course offered by Veranda CA Acquisiti
Slide 16: Strong presence in test preparations & professional skilling segments
Strong presence in test preparations & professional skilling segments Career-defining competitive exams Hybrid • TNPSC Group 2 • SSC Courses • Railways • TNPSC Group 4 • TN TET • Kerala PSC • Banking • CA Foundation Professional courses TNPSC Exam Coaching: CA Exam Coaching: • Group 2 & 2A • CA Foun
Slide 17: Edureka – A leading player in emerging technology training
Edureka – A leading player in emerging technology training • A comprehensive learning platform aimed to bridge the workplace-ready IT skills gap Pioneering Instructor Led Live Edureka Learning Centres Online training • Veranda acquired Edureka to build a full-stack Education business virtually • Lau
Slide 18: Established a result oriented unique 360 Approach
Established a result oriented unique 360o Approach Weekly lectures by Textbooks for all courses subject matter experts for in-depth structural & with Q&A methodical learning Mentors assigned to Chapter and paper level every student to track mock tests for practice and ensure progress Right blend of
Slide 19: Centres Wide Presence
Veranda Learning – Coaching centres across India 150+ Diversified Footprint across India Centres (across all courses) Wide Building presence across India Presence Strong Hold Established strong offline presence in in South India Tamil Nadu and Kerala 14
Slide 20: Proficient Team to drive the business
Proficient Team to drive the business More than a decade of experience in the Education industry Founded SSI in 1991, providing software education and IT training; key milestones include listing on NSE and BSE, formed a JV with NASDAQ, acquired Albion Orion Company LLC and acquired controlling s
Slide 21: Veranda Learning – Key Team Members (1/2)
Veranda Learning – Key Team Members (1/2) Praveen Kumar Saradha Govindarajan Pravin Menon President, Corporate Strategy Chief Financial Officer Chief Marketing Officer 25+ years of experience in cross border 11+ years of experience in the areas of acquisitions & pre-acquisition process in M&A
Slide 22: Veranda Learning – Key Team Members (2/2)
Veranda Learning – Key Team Members (2/2) Vineet Chaturvedi Bharat Seeman Santhoshkumar P Chief Business Officer, Business Head, Head of Operations Co-Founder Edureka Co-Founder RACE 17+ years of experience in building several 7+ years of experience in operations 10+ years of experience in bus
Slide 23: Offerings through Subsidiaries
Offerings through Subsidiaries - In December 2020, Veranda - Incorporated in 2011 in - Commercially launched in - Commercially launched in Race acquired the content, Bengaluru, Edureka is one of the July’21 Aug’21 Background brand and education recognised online education - Engaged Trans learning LL
Slide 24: Veranda Growth Strategy
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Slide 25: Veranda Learning – Growth Strategy
Veranda Learning – Growth Strategy Evaluate targets for acquisitions and seek opportunities to acquire IN-ORGANIC STRATEGIES brands and businesses which complement its service offerings, Strategic strengthen or establish its presence in the targeted domestic and Acquisitions international market
Slide 26: Strategic Acquisitions & New Launches to Scale business Operations
Strategic Acquisitions & New Launches to Scale business Operations Veranda Acquired Chennai RACE in December 2021 RACE Edureka Acquired Brain4ce Education Solutions (“Eduerka”) in September 2021 Edureka Learning Centres Launched Edureka Learning Centres in May 2022 J.K Shah Acquired in Classes Octob
Slide 27: Collaboration with J. K. Shah – India's leading institute for CA test prep
Collaboration with J. K. Shah – India’s leading institute for CA test prep Veranda acquired J. K. Shah Classes (JKSC) 39 ~75 Forayed into an imperative segment of high-demand financial courses such as Chartered years Centres of legacy in India Accountancy through acquisition of India’s premier CA te
Slide 28: Industry Growth Drivers
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Slide 29: Geographical Segmentation - Global
Geographical Segmentation - Global Market Size Market Size Growth Rate Region (2021) (2027) CAGR (2021-27) Asia Pacific Countries (APAC) $107.63 BN $277.39 BN 17.09% North America $52.62 BN $109.27 BN 12.95% Europe $39.62 BN $92.26 BN 15.13% Latin America $29.68 BN $72.95 BN 16.17% Middle East & Afr
Slide 30: Indian Ed-tech Sector – Market Size
Indian Ed-tech Sector – Market Size 90 Edtech Market in India 2021–2027 ($ billion) 30.00% 80 25.00% 70 60 20.00% Growth Rate 50 15.00% 19.17% 40 CAGR 30 10.00% (2021-2027) 20 5.00% 10 0 0.00% 2021 2022 2023 2024 2025 2026 2027 Revenue 27.41 30.48 35.23 41.98 51.25 63.25 78.5 Growth Rate 11.20% 15.5
Slide 31: Indian Sector – Boom for Upskilling & Reskilling Courses
Indian Sector – Boom for Upskilling & Reskilling Courses Upskilling and Reskilling – A budding requirement A McKinsey global survey in February 2020 found that 9 in 10 executives and managers are either already facing skills gaps in their organizations or expect gaps to develop within the next 5 yea
Slide 32: Financial Performance
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Slide 33: Consolidated P&L Highlights
Consolidated P&L Highlights Particulars Q2 FY23 Q2 FY22 Q1FY23 H1FY23 H1FY22 FY22 Total Revenue 387.70 107.92 286.31 674.01 156.60 756.02 Gross Profit 150.64 44.70 118.98 269.62 66.48 293.07 Gross Profit Margin (%) 40.84% 42.18% 42.21% 41.43% 42.99% 39.05% Advertisement & Business Promotion 106.89 5
Slide 34: Consolidated Balance sheet
Consolidated Balance sheet Particulars (INR mn) Sep’22 Mar’22 Particulars (INR mn) Sep’22 Mar’22 1. ASSETS 1. EQUITY Non-current assets Equity share capital 557.76 411.77 Property, plant and equipment 30.40 14.76 Other Equity 1,206.41 358.03 Intangible Assets 692.36 800.10 Total equity 1,764.17 769.
Slide 35: Financial Highlights
Financial Highlights Total Revenue EBITDA Revenue Break-up (H1FY23) 756.02 674.01 41% FY21 FY22 H1FY23 -76.25 59% -281.05 25.44 Online % Offline % -390.52 FY21 FY22 H1FY23 Enrolments ARPU Brain4ce (Edureka) Veranda Race 58,682 26,619 11,860 42,000 10,927 25,834 22,135 H1FY22 H1FY23 H1FY22 H1FY23 FY2
Slide 36: Let's Connect
Veranda Learning Solutions Let’s Connect Ernst & Young, LLP Mr. Abhishek Bhatt Mrs. Saradha Govindarajan, CFO abhishek.bhatt3@in.ey.com saradha.g@verandalearning.com Ms. Mahalakshmi Venkatachalam mahalakshmi.venkatachalam@in.ey.com Veranda Learning Solutions Ltd, 34, Thirumalai Pillai road, T. Nagar
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