Jaro Institute Of Technology Management And Research Limited · NSE:JARO
Jaro Institute Of Technology Management And Research — Q4 FY2026 Earnings Presentation
34 slides from Jaro Institute Of Technology Management And Research's earnings presentation, May 8, 2026
Slide 1: Cover letter to stock exchanges under Regulation 30
Date: May 12, 2026 To, To, BSE Limited National Stock Exchange of India Limited Department of Corporate Services/ Exchange Plaza, C-1, Block G Bandra Kurla Corporate Relation Department, Complex, Bandra (E), Mumbai – 400 051, Phiroze Jeejeebhoy Towers, Dalal Maharashtra, India. Street, Mumbai – 400
Slide 2: Investor Presentation Q4 FY 2025-26
Investor Presentation Q4 FY 2025-26 08th May, 2026
Slide 3: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which has been prepared by Jaro Institute of Technology Management and Research Limited (the “Company”), solely for information purposes and does not constitute any offer, recommendation or invitation to purchase or subsc
Slide 4: Table of Contents
Table of Contents Section 1 Section 2 Section 3 Section 4 Q4 Overview Financial Overview Business Overview Company Portfolio Section 5 Section 6 Section 7 Management Team Management Financial Statements Commentary Investor Presentation 3
Slide 5: Jaro is Redefining India's Learning Landscape
Jaro is Redefining India’s Learning Landscape. (in Lakhs) (in Lakhs) Overview Mar (Q4 FY26) Overview Mar (Q4 FY26) Revenue from Operations INR INR Gross Booking* 100% 7,278.64 15% 19,070.46 QoQ: 15% Revenue from Degree INR 8,464 No. of Admission 88% 6,390.15 20% QoQ: 20% Revenue from INR No. of Admi
Slide 6: Q4 Key Updates
Q4 Key Updates Partnership Updates: New programs launched: • Jaro signed a partnership agreement with S.P. Jain Institute of Management & Research (SPJIMR) Institutes Count of New Programs • B2B MOU signed with L&T Finance and Safran Datasystems IIM Ahmedabad 6 Agreement Renewals: IIM Kozhikode 2 •
Slide 7: Strong growth in Gross Bookings continues to scale the business
Strong growth in Gross Bookings continues to scale the business Quarterly (FY 25-26) Annual (FY 25-26) Gross Bookings (in Lakhs) Gross Bookings (in Lakhs) 72,721 62,554 20,809 19,070 16,554 48,773 16,287 31,657 Q1 Q2 Q3 Q4 FY23 FY24 FY25 FY26 Note: 1. Gross Booking is the Total Program Fees (Jaro’s
Slide 8: Strong growth performance continues to support higher Net Bookings
Strong growth performance continues to support higher Net Bookings Quarterly (FY 25-26) Annual (FY 25-26) Net Bookings (in Lakhs) Net Bookings (in Lakhs) 27,388 25,226 8,041 7,279 19,905 6,067 6,001 12,215 Q1 Q2 Q3 Q4 FY23 FY24 FY25 FY26 Note: 1. Net Booking is Revenue share of the Company for the y
Slide 9: Customer Acquisition Cost
Customer Acquisition Cost Quarterly (FY 25-26) Annual (FY 25-26) Customer Acquisition Cost (in Rs.) Customer Acquisition Cost (in Rs.) 56,517 44,788 42,163 40,134 44,783 41,620 38,965 29,393 11,722 11,626 11,761 11,665 11,839 9,008 4,394 5,077 Q1 Q2 Q3 Q4 FY23 FY24 FY25 FY26 Performance Marketing Re
Slide 10: Sustained business performance strengthening ARPU
Sustained business performance strengthening ARPU Quarterly (FY 25-26) Annual (FY 25-26) ARPU (in Rs.) ARPU (in Rs.) 84,960 80,252 68,295 85,458 85,205 85,995 82,889 56,604 Q1 Q2 Q3 Q4 FY23 FY24 FY25 FY26 ARPU= Average Revenue Per User Investor Presentation 9
Slide 11: Return on Performance Marketing Spend
Return on Performance Marketing Spend Quarterly (Q4) Annual (FY 25-26) Return on Performance Marketing Spend (in “x”) Return on Performance Marketing Spend (in “x”) 2.29 2.12 2.06 1.99 1.89 1.67 1.51 1.33 Q1 Q2 Q3 Q4 FY23 FY24 FY25 FY26 1. ROPM= Return on Performance Marketing 2. ROPM= Revenue from
Slide 12: Enrollment Highlights
Enrollment Highlights Annual Enrollment Channel Quarterly Enrollment Channel (FY26) 54% 57% 51% 53% 46% 49% 47% 39% 34% 32% 33% 30% 28% 30% 27% 27% 28% 22% 21% 22% 19% 19% 16% 16% FY23 FY24 FY25 FY26 Q1 Q2 Q3 Q4 Performance Marketing Reference Others Performance Marketing Reference Others Number of
Slide 13: Jaro Education: Company Overview
Jaro Education: Company Overview Démocratisation of Education Insights & collaboration Complete learning experience Fee sharing model Learners / Professionals Academic Institutions Founded in 2009, Jaro Education is an early and established edtech player in India, focused on expanding access to qual
Slide 14: Large & Fast-Growing Upskilling Opportunity
Large & Fast-Growing Upskilling Opportunity Online Higher Education & Key trends of the Online Higher Education and Upskilling TAM: India (INR' Crores) Upskilling market in India CAGR: 26% NEP 2020 Era of Perpetual 41,250 Learning 13,200 Affordable Online Higher Education GER to be increased from 29
Slide 15: How Is Jaro Breaking Barriers?
How Is Jaro Breaking Barriers? Jaro enables universities to scale online programs by managing student acquisition and lifecycle, earning a share of program fees. Execution at scale: National Policy Alignment: Jaro enables institutions to deliver quality education Directly supports NEP 2020’s push fo
Slide 16: Self-Reinforcing Growth Driven by Data and Scale
Self-Reinforcing Growth Driven by Data and Scale Enable onboarding more institutes 1. Institution Partnership More partner leads to wider program Strong relationship with IITs, IIMs & opportunities to NIRF ranked universities Reinvest to scale and strengthen capabilities 6. Revenue Growth (Revenue 2
Slide 17: Delivering Value Across Institutions and Learners
Delivering Value Across Institutions and Learners Jaro creates value by bridging institutional capabilities with learner demand. Insights & collaboration Complete learning experience Fee sharing model Institutions Learners Data-driven program design aligned with industry Industry-aligned, career-rel
Slide 18: Why Jaro Wins
Why Jaro Wins Deep Institutional Partnerships Data-Driven Program Intelligence Strong relationships with leading institutions enable program co- Business Intelligence: Market insights and learner demand creation and long-term engagement analytics drive relevant and high-conversion program offerings
Slide 19: Strong Revenue Visibility Driven by Program Structure
Strong Revenue Visibility Driven by Program Structure Growth Drivers Acquisition Innovation Appreciation New Partners + New Programs Old Partners + New Programs Fee revision based on program outcome Revenue Characteristics Visibility Drivers • Multi-month and multi-year programs • Long-term institut
Slide 20: Why Invest in Jaro
Why Invest in Jaro Scalable, asset-light model Strong revenue visibility with long-duration programs Favorable unit economics Large and growing upskilling market opportunity Proven execution in learner acquisition and program delivery Deep, long-term institutional partnerships Operating leverage dri
Slide 21: Institution Partners
Institution Partners Investor Presentation 20
Slide 22: B2B Partners
B2B Partners Investor Presentation 21
Slide 23: Jaro Beyond Education
Jaro Beyond Education Jaro Education supports affordable healthcare in Patna with Dr. Sanjay Salunkhe’s meeting with the Hon’ble Prime Honoured as “Best Organisations for Women 2026” by ET a contribution of ₹51 lakh under CSR, in partnership with the Minister, Shri Narendra Modi at ET Global Busines
Slide 24: Experienced Leadership with a Strong Track Record
Experienced Leadership with a Strong Track Record Sanjay Salunkhe Ranjita Raman Sankesh Mophe Chief Financial Officer Founder, Chairman & Managing Director Chief Executive Officer and Wholetime Director • Founding member • Driving Jaro’s growth engine since 2010 • Shaping Jaro’s financial governance
Slide 25: Management Comment
Management Comment Commenting on the performance, Dr. Sanjay Salunkhe, Chairman & Managing Director of Jaro Education said: “We are pleased to report a steady performance in Q4 FY26 and a healthy overall outcome for the full year, supported by sustained demand momentum, expansion of institutional pa
Slide 26: Key Financial Highlights
Key Financial Highlights Key Figures Snapshot (FY26) INR 27,387.81 INR 5,291.64 15% INR 5,744.70 Revenue from Operations (in PAT ROE Cash flow from operations Lakhs) (in Lakhs) (in Lakhs) 72,721.17 920 Cr. 72% 19% Current Market Cap (as on Gross Booking (in Gross Margin PAT Margin Lakhs) 07th May 20
Slide 27: Key Financials Performance & Indicators
Key Financials Performance & Indicators Revenue from Operations (in Lakhs) EBITDA (in Lakhs) PAT (in Lakhs) 27,388 21% 32% 33% 29% 9% 19% 20% 19% 25,226 8,358 8,321 5,167 5,292 19,905 6,356 3,797 12,215 2,555 1,165 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 Number of Partner Univers
Slide 28: Q4 FY26 Financials
Q4 FY26 Financials in Lakhs Q4 FY26 Financials Particulars Q4 FY26 Q4 FY25 YoY % Revenue from Operations 7,278.64 7,412.08 Other Income 905.81 56.99 Total Income 8,184.45 7,469.07 10% Employee Cost 1,846.92 1,834.85 Other Expenses 3,322.23 2,790.84 Total Expenditure 5,169.15 4,625.69 EBIDTA 3,015.30
Slide 29: FY26 Financials
FY26 Financials in Lakhs FY26 Financials Particulars FY26 FY25 YoY % Revenue from Operations 27,387.81 25,226.26 Other Income 1,112.37 175.61 Total Income 28,500.18 25,401.87 12% Employee Cost 7,851.61 7,390.33 Other Expenses 12,327.42 9,653.24 Total Expenditure 20,179.03 17,043.57 EBIDTA 8,321.15 8
Slide 30: FY26 Balance Sheet (1/2)
FY26 Balance Sheet (1/2) in Lakhs As at As at Particulars 31 March 2026 31 March 2025 ASSETS Non-Current Assets Property, Plant And Equipment 235.89 378.05 Right of Use Assets 685.66 1,238.01 Financial Assets Other Financial Assets 835.36 636.33 Non-Current Tax Assets (Net) 543.27 1,470.58 Total Non
Slide 31: FY26 Balance Sheet (2/2)
FY26 Balance Sheet (2/2) in Lakhs As at As at Particulars 31 March 2026 31 March 2025 EQUITY AND LIABILITIES Equity Equity Share Capital 2,177.90 2,023.75 Other Equity 33,864.81 15,131.31 Total Equity 36,042.71 17,155.06 Liabilities Non-Current Liabilities Financial Liabilities - Borrowings 18.37 38
Slide 32: FY26 Cashflow Statement (1/2)
FY26 Cashflow Statement (1/2) For the year ended For the year ended Particulars (in Lakhs) Lakhs) 31 March 2026 31 March 2025 Cash flow from operating activities Profit Before Tax 7,025.25 7,014.36 Adjustment For : Depreciation And Amortization Expenses 977.34 914.79 Allowances for Expected Credit L
Slide 33: FY26 Cashflow Statement (2/2)
FY26 Cashflow Statement (2/2) For the year ended For the year ended Particulars (in Lakhs) (in Lakhs) 31 March 2026 31 March 2025 Cash Flows From Investing Activities Purchase of Property, Plant & Equipment (84.65) (412.40) Proceeds from sale of Property, Plant & Equipment 1.60 - Loan given to emplo
Slide 34: Thank You!
Thank You! Jaro Institute of Technology Management and Research Limited Dr. Sanjay Salunkhe Chairman and Managing Director san@jaro.in Investor Relations: SAAA Consultants Pvt. Ltd. Ms. Sejal Dukhande investorrelations@saaaconsultants.com www.jaroeducation.com
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