Veranda Learning Solutions Ltd. · NSE:VERANDA
Veranda Learning Solutions — Q2 FY2024 Earnings Presentation
38 slides from Veranda Learning Solutions's earnings presentation, Nov 10, 2023
Slide 1: Exchange cover letter for results and investor presentation
Veranda Learning Solutions Limited 09th November 2023 BSE Limited National Stock Exchange of India Limited Dept of Corporate Services, Phiroze The Listing Department, Exchange Plaza, Jeejeebhoy Towers, Dalal Street, Bandra Kurla Complex, Fort, Mumbai – 400 051 Mumbai – 400 001 Scrip Code: 543514 Sym
Slide 2: Veranda Learning Solutions Reports a Strong Performance in Q2 & H1 FY24
PRESS RELEASE Veranda Learning Solutions Reports a Strong Performance in Q2 & H1 FY24 Q2FY24: Operating Income registers a robust growth of 167% YoY Chennai, 09 November 2023: Veranda Learning Solutions Limited, a public listed Education company (BSE: 543514, NSE: VERANDA) and a pioneer in the indus
Slide 3: Key Consolidated Financial Highlights
Key Consolidated Financial Highlights: Total Operating Revenue stood at Rs. 98.37 crores in Q2FY24 compared to Rs. 36.88 crores in Q2FY23 a growth of 166.7% YoY; Total Operating Revenue for H1FY24 stood at Rs. 167.27 crores compared to Rs. 65.07 crores in H1FY23 witnessing a growth of 157.06% YoY.
Slide 4: Edureka and JK Shah Classes segment performance
Edureka (Brain4ce) Edureka is a platform for imparting the latest tech skills for technology professionals through curated courses to bridge the gap between industry demand and talent supply. During Q2FY24 the Revenue stood at Rs. 23.27 crores compared to Rs. 19.94 crores in Q2FY23 a robust growth o
Slide 5: Company Contact and Disclaimer
Company Contact: Investor Relations: Mr. Abhishek Bhatt Ms. 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 | C
Slide 6: Veranda Learning Solutions
Veranda Learning Solutions Affordability | High-quality Content | Outcome-oriented Approach Investor Presentation | November 2023
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 FY24 Performance
Q2 & H1 FY24 Performance eoccecccccce eeccecccccece
Slide 10: Key Financial & Business Highlights – Q2 & H1 FY24
Key Financial & Business Highlights – Q2 & H1 FY24 EBITDA PAT Revenuefrom Revenue fromOperations Operations EBITDA 16.75 98.37 -1.53 36.88 Q2FY23 Q2FY24 Q2FY23 Q2FY24 -21.13 -15.00 All figures (in Rs. Cr) Q2FY23 Q2FY24 Revenue EBITDA PAT Revenue from from Operations Operations EBITDA 22.39 167.27 65
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 “I am thrilled to share with you the outstanding performance of our company during Q2FY24 and H1FY24. The numbers speak for themselves - our revenue has surg
Slide 12: Consolidated P&L Highlights
Consolidated P&L Highlights Particulars (Rs. Cr) Q2FY24 Q2FY23 Y-o-Y Q1FY24 Q-o-Q H1FY24 H1FY23 Y-o-Y Revenue from Operations 98.37 36.88 166.70% 68.90 42.77% 167.27 65.07 157.06% Other Income 1.90 1.89 1.58 3.48 2.33 Total Revenue 100.27 38.77 158.63% 70.48 42.26% 170.75 67.40 153.34% Gross Profit#
Slide 13: Consolidated Balance sheet
Consolidated Balance sheet Particulars (Rs. Cr) Sep’23 Mar’23 Particulars (INR Cr) Sep’23 Mar’23 1. ASSETS 1. EQUITY Non-current assets Equity share capital 69.20 61.57 Property, plant and equipment 75.75 14.08 Other Equity 359.77 244.37 Right of use Assets 72.91 71.88 Total equity 428.96 305.94 Cap
Slide 14: Veranda Company Overview
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Slide 15: 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 16: 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 17: 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 18: 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 19: Our Brand Portfolio
Our Brand Portfolio Veranda Veranda 2 Veranda ‘RACE higherEd Veranda IAS Veranda Varsity J.K. SHAH edureka! el edureka! CLASSES aT NiNcg CENTER SMARTBRIDGE ‘SCHOOL OF MANAGEMENT we
Slide 20: 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 21: 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 22: 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 23: Established a result oriented unique 360o 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 24: Centres Wide Presence
Veranda Learning – Coaching centres across India 200+ Diversified Footprint across India Centres (across all courses) Wide Building presence across India Presence Strong Hold Established strong offline presence in Across India Southern and Western India 19
Slide 25: 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 26: 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 27: Veranda Learning – Key Team Members (2/2)
Veranda Learning – Key Team Members (2/2) Bharat Seeman Santhoshkumar P Lovleen Bhatia CEO, Veranda IAS CEO, Veranda Race 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 28: Veranda Growth Strategy
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Slide 29: 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 30: 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 31: 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 32: Industry Growth Drivers
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Slide 33: 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 $72.95 BN 16.17% Middle East & Afr
Slide 34: Indian Ed-tech Sector – Market Size
Indian Ed-tech Sector – Market Size 90 Edtech Market in India 2021–2027 ($ 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 35: 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 36: Financial Performance
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Slide 37: Financial Highlights
Financial Highlights Total Revenue (Rs. Cr) EBITDA (Rs. Cr) Revenue Break-up (H1FY24) 22.39 199.92 32% 170.75 68% 75.60 -33.67 -39.05 Online % Offline % FY22 FY23 H1FY24 FY22 FY23 H1FY24 Enrolments ARPU Brain4ce (Edureka)# Veranda Race 31,323 14,838 91,667 87,766 27,765 56,819 19,404 12,609 12,699 F
Slide 38: Let's Connect
Veranda Learning Solutions Let’s Connect Ernst & Young, LLP Mr. Abhishek Bhatt Ms. 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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