Veranda Learning Solutions Ltd. · NSE:VERANDA
Veranda Learning Solutions — Q3 FY2024 Earnings Presentation
36 slides from Veranda Learning Solutions's earnings presentation, Feb 8, 2024
Slide 1: Exchange cover letter: press release on financial results
Veranda Learning Solutions Limited 7th February, 2024 BSE Limited National Stock Exchange of India Limited Dept of Corporate The Listing Services, Phiroze Department, Jeejeebhoy Towers, Dalal Exchange Plaza, Street, Fort, Bandra Kurla Complex, Mumbai – 400 001 Mumbai – 400 051 Scrip Code: 543514 Sym
Slide 2: Veranda Learning Solutions announces Q3 & 9MFY24 Financial Results
Press Release Veranda Learning Solutions announces Q3 & 9MFY24 Financial Results Veranda Learning reported a stellar top line growth of 92% YoY during Q3FY24, Q-o-Q growth in EBITDA Chennai, 07 February 2024: Veranda Learning Solutions Limited, a public listed Education company (BSE: 543514, NSE: VE
Slide 3: Key Consolidated Financial Highlights
Key Consolidated Financial Highlights: ▪ Total Operating Revenue stood at Rs. 91.84 crores in Q3FY24 compared to Rs. 47.88 crores in Q3FY23 a growth of 91.83% YoY; Total Operating Revenue for 9MFY24 stood at Rs. 259.12 crores compared to Rs. 112.95 crores in 9MFY23 witnessing a growth of 129.41% YoY
Slide 4: Acquisition of 50% of Tapasya Educational Institutions
Acquisition of 50% of Tapasya Educational Institutions Private Limited (TEIPL) would be done by Veranda XL Learning Solutions Private Limited (VXL), a material subsidiary Company of Veranda Learning Solutions Limited (VLS) for a consideration of Rs 120 Crore. Tapasya caters to a wide range of educat
Slide 5: Veranda Learning Solutions
Veranda Learning Solutions Affordability | High-quality Content | Outcome-oriented Approach Investor Presentation | December 2023
Slide 6: 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 7: Agenda
Agenda 01 Result Highlights 02 Company Overview 03 Growth Strategy 04 Industry Overview 05 Financials
Slide 8: Q3 & 9M FY24 Performance
Q3 & 9M FY24 Performance eeccecccccce weocceccceses
Slide 9: Key Financial & Business Highlights – Q3 & 9M FY24
Key Financial & Business Highlights – Q3 & 9M FY24 EBITDA PAT Revenuefrom Revenue fromOperations Operations EBITDA 91.84 17.19 0.66 47.88 14.54 Q3FY24 Q3FY23 -16.71 All figures (in Rs. Cr) Q3FY24 Q3FY23 Q3FY24 Q3FY23 Revenue EBITDA PAT Revenue from from Operations Operations EBITDA 259.12 39.57 112.
Slide 10: 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 extremely pleased to announce the strong and continued growth of our organisation in Q3FY24, where our revenue has increased by 92 percent YoY. Notab
Slide 11: Consolidated P&L Highlights
Consolidated P&L Highlights Particulars (Rs. Cr) Q3FY24 Q3FY23 Y-o-Y Q2FY24 Q-o-Q 9MFY24 9MFY23 Y-o-Y Revenue from Operations 91.84 47.88 91.83% 98.37 (6.64) % 259.12 112.95 129.41% Other Income 3.51 35.84 1.90 6.99 38.17 Total Revenue 95.36 83.72 13.90% 100.27 (4.90) % 266.11 151.12 76.09% Gross Pr
Slide 12: Veranda Company Overview
Veranda Company Overview eeccecccccce weocceccceses
Slide 13: 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 14: Our Journey so far
Our Journey so far J. K. SHAH CLASSES INCORPRATION LAUNCHES & ACQUISITIONS AND LAUNCH OF ELCs • July’21: Launched CA course offered by • May’22: Launched Edureka Learning Centre Incorporated in November 2018 Veranda CA (ELCs) • Aug’21: Launched UPSC course offered by Veranda IAS • Oct’22: Acquired J
Slide 15: 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 16: 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 17: Our Brand Portfolio
Our Brand Portfolio Veranda Verand = Veranda | ‘RACE higherEd Veranda IAS Veranda Varsity J.K. SHAH edureka! el edureka! CLASSES CENTER 4 SMARTBRIDGE SCHOOL OF MANAGEMENT -
Slide 18: Brands Under Our Portfolio - Diversified Offerings (1/3)
Brands Under Our Portfolio - Diversified Offerings (1/3) Courses Offered Modes of Delivery Average Duration Languages A premier competitive exam test- • SSC • Online: Recorded and Live Tamil, Kannada, prep institute preparing students for • State PSC • Offline-blended model 3-12 months Telugu, Engli
Slide 19: Brands Under Our Portfolio - Diversified Offerings (2/3)
Brands Under Our Portfolio - Diversified Offerings (2/3) Courses Offered Modes of Delivery Average Duration Languages Committed to design a • Online comprehensive learning experience Integrated learning programme (CSAT and optional • Offline blended 12 months English to help aspirants meet the high
Slide 20: Brands Under Our Portfolio - Diversified Offerings (3/3)
Brands Under Our Portfolio - Diversified Offerings (3/3) Courses Offered Modes of Delivery Average Duration Languages The academy offers training for • Kerala PSC Kerala PSC competitive exams and • SSC • Online 6-12 months English, Malayalam the training experience has bee, • UPSC • Offline hybrid t
Slide 21: 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 22: Veranda Learning – Coaching centres across India
Veranda Learning – Coaching centres across India 200+ Centre Diversified Footprint across India s (across all courses) Wide Building presence across India Presence Strong Hold Established strong offline presence in Southern and Western India Across India 18
Slide 23: 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 24: 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 25: Veranda Learning – Key Team Members (2/2)
Veranda Learning – Key Team Members (2/2) Santhoshkumar P Bharat Seeman Lovleen Bhatia CEO, Veranda Race CEO, Veranda IAS Co-Founder, Edureka Ex-founder, Veranda Race 7+ years of experience in operations 10+ years of experience in business leadership 18 years+ of technical leadership and R&D m
Slide 26: Veranda Growth Strategy
Veranda Growth Strategy eeccecccccce weocceccceses
Slide 27: Veranda Learning – Growth Strategy
Veranda Learning – Growth Strategy TRACK RECORD New Courses and Offering Attuned to the evolving demands of learners and job market, constantly diversify range of courses Proactive approach to identify emerging disciplines and skills, and design 15+ IN-ORGANIC STRATEGIES’ courses to meet needs o
Slide 28: Strategic Acquisitions & New Launches to Scale business Operations
Strategic Acquisitions & New Launches to Scale business Operations Veranda RACE Acquired Chennai RACE in December 2020 Edureka Acquired Brain4ce Education Solutions (“Eduerka”) in September 2021 Edureka Learning Centres Launched Edureka Learning Centres in May 2022 J.K Shah Classes Acquired in Octob
Slide 29: 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 years of legacy Forayed into an imperative segment of high-demand financial courses such as Chartered Accountancy through acquisition of India’s premier CA test-preparation instit
Slide 30: Industry Growth Drivers
Industry iil Growth Drivers eeccecccccce weocceccceses
Slide 31: 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 $72.95 BN 16.17% Middle East & Afr
Slide 32: Indian Ed-tech Sector – Market Size
Indian Ed-tech Sector – Market Size 90 Edtech Market in India 2021–2027 ($ 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 5.0 0% 10 0 0.0 0% 2021 2022 2023 2024 2025 2026 2027 Revenue 27.41 30.48 35.23 41.98 51.25 63.25 78.5 Growth Rate 11.2
Slide 33: 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 34: Financial Performance
Financial Performance eeccecccccce weocceccceses
Slide 35: Financial Highlights
Financial Highlights Total Revenue (Rs. Cr) EBITDA (Rs. Cr) Revenue Break-up (9MFY24) 266.11 39.57 34% 199.92 66% 75.60 -33.67 -39.05 Online % Offline % FY22 FY23 9MFY24 FY22 FY23 9MFY24 Enrolments ARPU Brain4ce (Edureka)# Veranda Race 123,917 31,323 14,885 91,667 26,823 56,819 19,404 12,609 12,699
Slide 36: Let's Connect
Veranda Learning Solutions Let’s Connect Ernst & Young, LLP Mr. Abhishek Bhatt Mr Vivek Raghuram, Investor Relations abhishek.bhatt3@in.ey.com vivek.r@verandalearning.com Ms. Mahalakshmi Venkatachalam mahalakshmi.venkatachalam@in.ey.com Veranda Learning Solutions Ltd, 34, Thirumalai Pillai road, T.
Veranda Learning Solutions — Q3 FY2024 Earnings Presentation on 6ix