Veranda Learning Solutions Limited has released its earnings presentation for the quarter ended December 31, 2025, in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company submitted the presentation to both BSE Limited and National Stock Exchange of India Limited on February 06, 2026, highlighting its Q3FY26 performance and strategic outlook.

Regulatory Compliance and Exchange Submission

The earnings presentation was formally submitted to stock exchanges following the company's board meeting held on February 06, 2026. Company Secretary & Compliance Officer S. Balasundharam digitally signed the submission at 12:51:12 +05'30' on the same date.

Q3FY26 Financial Performance Highlights

The earnings presentation showcases remarkable financial recovery with revenue from operations growing 52% year-on-year to ₹117 crores in Q3FY26. The company reported EBITDA of ₹53 crores, representing a 328% increase compared to the previous year, while achieving net profit of ₹17 crores, marking a 110% year-on-year improvement.

Operational Excellence and Student Enrollment Growth

The presentation highlights significant operational improvements with student enrollments increasing 55% year-on-year to 1,11,363 in Q3FY26 from 71,897 in Q3FY25. Collections also demonstrated strong momentum, rising 46% to ₹144 crores compared to ₹98 crores in the corresponding quarter of the previous year.

Segment-wise Performance Analysis

The earnings presentation reveals strong performance across business verticals, with Commerce Test Prep emerging as the primary growth driver. Commerce Test Prep revenue surged to ₹80.2 crores in Q3FY26 from ₹38.1 crores in Q3FY25, while Government Test Prep maintained steady performance at ₹29.1 crores.

Strategic Initiatives and Future Outlook

The presentation outlines the company's Veranda 2.0 strategy implementation, including the demerger of the commerce vertical and divestment of the vocational segment to SNVA Veranda Limited in a 50:50 share-swap joint venture. The company targets revenue of ₹250+ crores and EBITDA of ₹60+ crores by FY27 through this strategic partnership spanning 60+ countries.

Document Accessibility and Investor Relations

The earnings presentation has been hosted on the company's official website at https://www.verandalearning.com/web/index.php/stock-exchange-intimations for stakeholder access. The comprehensive presentation includes management commentary from Chairman & Executive Director Kalpathi S Suresh, highlighting the company's sustained focus on operational excellence and disciplined strategic expansion.

Veranda Learning Solutions Limited has successfully filed its Commerce Vertical demerger scheme with the National Company Law Tribunal (NCLT) Chennai, marking a significant milestone in the company's strategic restructuring plans. The filing follows the receipt of observation letters with "no adverse observations" from both the National Stock Exchange of India Limited and BSE Limited.

Demerger Structure and Compliance

The proposed scheme involves the demerger of Veranda Learning's Commerce Education business into a newly incorporated entity, J.K. Shah Commerce Education Limited. The restructuring has been designed in compliance with applicable provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Brand Consolidation and Academic Excellence

J.K. Shah Commerce Education Limited will serve as the platform for all present and future operations of Veranda Learning's commerce vertical. The new entity will consolidate several established brands under one umbrella:

• J.K. Shah Classes
• BB Virtuals
• Navkar Digital Institute
• Tapasya College of Commerce
• Logic School of Management

The entity will offer CA, CS, CMA and ACCA test preparation across India and overseas. The commerce vertical has demonstrated strong academic performance, with students securing the top three All India Ranks in the CA Final September 2025 examinations and producing 141 CA All-India Rankers in the May 2025 examinations, including AIRs 1, 2 and 3 in CA Finals.

Strategic Objectives and Leadership

The proposed demerger is designed to create a focused, standalone listed commerce education platform with several strategic advantages:

• Sharper strategic and operational focus
• Independent capital allocation aligned to sector-specific requirements
• Improved valuation transparency
• Long-term value creation for shareholders

Prof. J.K. Shah will serve as chairman of the new entity, ensuring leadership continuity and long-term strategic alignment.

Management Commentary

Mr. Suresh Kalpathi, Executive Director and Chairman of Veranda Learning, commented on the development: "The filing of the scheme with the NCLT marks an important milestone in the demerger process. This move reflects our strategy of building focused education platforms supported by strong governance, transparency, and sustainable value creation."

Prof. J.K. Shah, Founder of J.K. Shah Classes, added: "With the scheme now filed, we are closer to establishing a dedicated commerce education platform that can scale efficiently while continuing to uphold high academic and governance standards."

Next Steps and Approvals

With the scheme now filed before the NCLT, the commerce vertical demerger is progressing as planned. The process remains subject to shareholder and other statutory approvals, in line with applicable regulatory requirements. The company has indicated that the demerger timeline is on track following this important regulatory filing.