Veranda Learning Solutions Limited — Interim / Quarterly Report 2025

Aug 7, 2024

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Veranda Learning Solutions Limited

7[th] August 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 Symbol: VERANDA

Sub: Press Release on Financial Results pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015 and investor presentation.

Sir/Madam,

Please find enclosed the press release titled ‘Veranda Learning Solutions announces Q1 FY 2024-25 Financial Results” pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015 and investor presentation.

This information will as well be hosted on the Company’s website at www.verandalearning.com.

Kindly take the same on record and display the same on the website of your exchange.

Thanking you,

For Veranda Learning Solutions Limited

M Digitally signed by M ANANTHARAMA ANANTHARAMAKRISHNAN Date: 2024.08.07 17:23:20 KRISHNAN +05'30'

M Anantharamakrishnan Company Secretary & Compliance Officer M. No: ACS-7187

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contact@verandalearning.com www.verandalearning.com +91 44 4296 7777 G.R. Complex First floor No.807808, Anna Salai, Nandanam, Chennai -600 035 CIN: L74999TN2018PLC125880

Press Release

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Veranda Learning Solutions Announces Impressive Q1FY25 Performance

YoY Income soars by 70%, EBITDA grows 5X

Chennai, 07 August 2024: Veranda Learning Solutions Limited , a public listed Education company (BSE: 543514, NSE: VERANDA) and a pioneer in the industry offering end-to-end Education services solutions, announced its financial results for the first quarter ended June 30, 2024. Carrying on its momentum from FY24, the company sustained its impressive growth as it capitalizes on the exciting opportunities and continues to deliver outstanding performance. During the quarter, the operating revenue stood at Rs. 118.99 crores, reflecting a growth of 72.69% from Rs. 68.90 crores in the same period last year despite Q1 being a traditionally off-season period.

In addition, the company reported deferred revenue of Rs 98.70 crores, positioning it strongly for its continued success in the upcoming quarters. The total cash collection by the company exceeded Rs. 150 crores for the quarter.

The company has achieved a robust EBITDA of Rs. 27.61 crores, up significantly from Rs. 5.64 crores reported in the same quarter last year. This substantial increase highlights the company’s enhanced operational efficiency and effective execution of its strategies. The Total number of students trained by the Veranda Group for Q1FY25 stood at 113,262.

Consolidated Financial Highlights:

Particulars (Rs. Crores)	Q1 FY25	Q1 FY24	Y-o-Y	Q4 FY24	Q-o-Q
Revenue from Operations	118.99	68.90	72.69%	102.61	15.96%
Other Income	7.43	1.58		1.30
Total Income	126.42	70.48	79.37%	103.91	21.66%
Gross Profit	72.61	38.38	89.16%	62.94	15.35%
Gross Profit Margin (%)	61.02%	55.71%		61.34%
Operating Expenses
Advt & Business Promotion	16.05	10.27	56.25%	13.31	20.58%
Corporate Costs	5.87	5.58	5.11%	6.42	(8.53)%
Other Expenses	29.29	16.93		21.36
Non-Operating Expenses
ESOPs/RSU	1.22	1.53		0.44
EBITDA	27.61	5.64	389.60%	22.71	21.55%
Finance Cost	29.92	8.45		39.50
Depreciation	22.33	18.96		22.55
Tax Expenses	0.51	(2.44)		(0.80)
PAT	(25.16)	(19.33)		(38.54)

Key Consolidated Financial Highlights:

• Total Income stood at Rs. 126.42 crores in Q1FY25 compared to Rs. 70.48 crores in Q1FY24 a growth of 79.37% YoY

• Gross Profit for Q1FY25 was at Rs. 72.61 crores compared to Rs. 38.38 crores in Q1FY24, a growth of 89.16%; and the reported Gross Profit margin was at 61.02% in Q1FY25 compared to 55.71% in Q1FY24

• Advertising and business promotion expenses for Q1FY25 stood at Rs. 16.05 crores .

• The Company reported an EBITDA of Rs. 27.61 crores in Q1FY25 compared to Rs. 5.64 crores in Q1FY24

• The ESOP expense for the quarter stood at Rs. 1.22 crores and the adjusted EBITDA for the quarter stood at Rs. 28.83 crores .

• The Finance cost for the quarter stood at Rs. 29.92 crores . This includes Rs. 9.01 crores, cash interest paid on the NCDs issued and non-cash expenses of Rs. 13.11 crores pertaining to the unwinding of acquisition related liabilities and accrued premium on the NCDs issued.

• The Depreciation cost for the quarter includes non-cash expense of Rs. 13.45 crores arising out of amortisation of intangible assets pertaining to the acquisitions completed.

Speaking on the robust financial performance, Mr. Suresh Kalpathi, Executive Director and Chairman, Veranda Learning Solutions said,

“I am delighted to announce that we have achieved stellar growth in Q1FY25, surpassing expectations during what is traditionally an off-season for the education industry. This performance underscores the strength and resilience of our business model, even in the face of cyclical challenges.

Our efforts to deepen our presence in various verticals are yielding tangible results. The synergy within our ecosystem is palpable, as we leverage the strengths of our acquired brands to enhance the overall quality and reach of our educational offerings. We are focussing on organic growth in all our existing segments with at least a double-digit YoY revenue growth. This quarter's performance is a clear indication that our focus on building sustainable and profitable operations is on the right track.

As we look to the future, our optimism is buoyed by our strong start to the year. We are steadfast in our goal to achieve a revenue target of Rs 600 crore in FY25, a milestone that reflects our commitment to excellence and our confidence in the sector's potential. Our unwavering focus on delivering consistent operational and financial results is key to maintaining the investor confidence and propelling Veranda Learning Solutions to new heights. We are excited about the journey ahead and remain committed to our mission of transforming the educational landscape.”

Q1FY25 Key Business Highlights:

Expanding Footprints in Eastern India

Veranda K-12 and Cambridge are expanding their partnership to introduce educational programs in Eastern India. The company, is expanding its support to schools in Eastern India, starting with Kolkata, in collaboration with the International Education group at Cambridge University Press & Assessment. Veranda K-12 assists schools in aligning with Cambridge’s educational standards. This partnership aims to integrate 500 new Indian schools into the Cambridge educational network. With a growing demand for global education, particularly in Tier 2 and Tier 3 cities and this collaboration with Cambridge will assist schools throughout the entire affiliation and implementation of the Cambridge curriculum. This support encompasses initial orientation, teacher training, ongoing assistance, and performance monitoring to ensure schools meet their educational goals.

Strategic partnership with Pearson

Pearson, a leading learning company is strengthening its strategic alliance with Veranda Race, a Veranda Learning enterprise renowned for test preparation, to launch an extensive and hybrid test preparation program for the Bank Probationary Officers (Bank PO) examination in India. This partnership will focus on delivering advanced learning solutions and credentials that prepare students for success in their chosen fields. The tie-up is expected to leverage Pearson’s expertise in education and Veranda’s commitment to academic excellence, creating valuable pathways for students and contributing to their professional growth.

Veranda XL Learning Solutions Private Limited and Sri Krishna Arts and Science College in Coimbatore signed a MoU

This MoU aims to offer a B. Com course with the added benefit of ACCA (Association of Chartered Certified Accountants) accreditation and this program is designed to provide enrolled students with exemptions from 9 out of the 13 required ACCA coursework exams, significantly speeding up their journey toward professional certification. Additionally, it will highlight the company’s commitment to offering students innovative educational experiences that go beyond traditional limits. The B.Com course with ACCA accreditation reflects the company’s dedication to academic excellence and prepares students to excel in the evolving financial sector. Over the next 5 years, the company anticipates to train more than 300,000 students through these collaborations.

Veranda partners with KSDC to launch upskilling programs

Veranda Learning Solutions Limited has commenced its work as a Training Partner as per the terms of the MoU with the KSDC (Karnataka Skill Development Corporation) to assist in the implementation of Wealth Management Course. This course is part of the Kalike Jothege Kaushalya, a state government initiative to provide skill development and career guidance to students in government colleges. The program will be delivered as a pilot project in Raichur and Gulbarga, enhancing Veranda's presence in Karnataka. Veranda's collaboration with KSDC is a key step in expanding its geographic footprint while continuing to deliver high-quality skill development programs across India.

About Veranda Learning Solutions:

Founded in 2018, by the Kalpathi AGS Group - Veranda Learning Solutions is a public listed education technology company that offers a bouquet of training programs for competitive exam preparation, including State Public Service Commission, Banking, Insurance, Railways, IAS, and CA, as well as a slew of professional skilling and upskilling programmes. Veranda Learning Solutions’ platform combines technology, processes, and methodologies to provide high-quality, in-depth, personalised learning opportunities and content to learners across the country. Dedicated to creating an impact on students and delivering successful academic outcomes, Veranda adopts a multi-modal delivery system backed by a rigorous and disciplined learning framework. The company provides services through its subsidiaries: Veranda RACE, Veranda IAS, Edureka - the customer-facing brand of Brain4ce Education Solutions, Six Phrase, Veranda HigherEd, Edureka Learning Centre, SmartBridge, BAssure Solutions, Talent Academy and Publications, Sreedhar’s CCE, Veranda K12, Tapasya and PHIRE. Veranda Learning has forayed into high-demand financial courses such as Chartered Accountancy through its partnership with India’s premier CA test-preparation institute, J. K. Shah Classes.

Company Contact: Investor Relations: Mr. Abhishek Bhatt Mr. Vivek Raghuram, Investor Relations Ms. Mahalakshmi Venkatachalam Veranda Learning Solutions Limited Ernst & Young LLP Abhishek.bhatt3@in.ey.com v ivek.r @verandalearning.com Mahalakshmi.venkatachalam@in.ey.com

Visit us at www.verandalearning.com | CIN L74999TN2018PLC125880

DISCLAIMER:

Certain statements in this document that are not historical facts, are forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political, or economic developments, industry risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. Veranda Learning Solutions Limited will not be responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

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Veranda Learning Solutions Affordability | High-quality Content | Outcome-oriented Approach

Investor Presentation | August 2024

Safe Harbor

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• 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 of operations, financial condition, business prospects, plans and objectives, are based on the current beliefs, assumptions, expectations, estimates, and projections of the management of Veranda Learning about the business, industry and markets in which Veranda Learning operates.

• These statements are not guarantees of future performance, and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond Veranda Learning’s control and difficult to predict, that could cause actual results, performance or achievements to differ materially from those in the forward looking statements.

• Such statements are not, and should not be construed, as a representation as to future performance or achievements of Veranda Learning. In particular, such statements should not be regarded as a projection of future performance of Veranda Learning. It should be noted that the actual performance or achievements of Veranda Learning may vary significantly from such statements.

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Agenda

Result Highlights 01 Company Overview 02 Growth Strategy 03 Industry Overview 04 Financials 05

Q1FY25 Performance

MARCHING TOWARDS GROWTH

R e p o r t e d S t r o n g E B I T D A G r o w t h o f 4 8 . 7 5 % ( C A G R G r o w t h f o r t h e p e r i o d Q 1 F Y 2 4 - Q 1 F Y 2 5 )

Q 1 F Y 2 5 P e r f o r m a n c e H i g h l i g h t s

EBITDA Trend (Rs. in Cr)

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27.61
22.71
16.75
17.19
5.64
Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25
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Total Income

+ 79.37% YoY

Total Income for Q1FY25 stood at Rs. 126.42 crores compared to Rs. 70.48 crores in Q1FY24

EBITDA

Positive

Reported positive EBITDA of Rs. 27.61 crores compared to Rs. 5.64 crores in Q1FY24

1.13 lakhs Students Trained

The Total number of students trained by the Veranda Group for Q1FY245 stood at 1,13,262

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Key Financial & Business Highlights – Q1 FY25

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Revenue from Operations Gross Profit
Key Business Highlights
72.61
118.99
Veranda K-12 and Cambridge are
expanding their partnership to introduce
38.38
68.90 educational programs in Eastern India
Strategic partnership with one of the
Marquee Player Pearson, a leading learning
Q1FY25 Q1FY24 Q1FY25 Q1FY24
company in the test preparation space
PAT
EBITDA
27.61 Signed a MoU, between Veranda XL Learning
Solutions Private Limited and Sri Krishna Arts
and Science College in Coimbatore
Veranda partnered with KSDC (Karnataka
5.64
-19.33
Skill Development Corporation) as a
training partner to launch upskilling
-25.16
programs
Q1FY25 Q1FY24
Q1FY25 Q1FY24
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Signed a MoU, between Veranda XL Learning Solutions Private Limited and Sri Krishna Arts and Science College in Coimbatore Veranda partnered with KSDC (Karnataka Skill Development Corporation) as a training partner to launch upskilling programs 6

From the Chairman’s Desk

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Commenting on the results, Mr. Kalpathi. S. Suresh, Executive Director and Chairman, Veranda Learning Solutions, said “I am delighted to announce that we have achieved stellar growth in Q1FY25, surpassing expectations during what is traditionally an off-season for the education industry. This performance underscores the strength and resilience of our business model, even in the face of cyclical challenges.

Our efforts to deepen our presence in various verticals are yielding tangible results. The synergy within our ecosystem is palpable, as we leverage the strengths of our acquired brands to enhance the overall quality and reach of our educational offerings. We are focussing on organic growth in all our existing segments with at least a double-digit YoY revenue growth. This quarter's performance is a clear indication that our focus on building sustainable and profitable operations is on the right track.

As we look to the future, our optimism is buoyed by our strong start to the year. We are steadfast in our goal to achieve a revenue target of Rs 600 crore in FY25, a milestone that reflects our commitment to excellence and our confidence in the sector's potential. Our unwavering focus on delivering consistent operational and financial results is key to maintaining the investor confidence and propelling Veranda Learning Solutions to new heights. We are excited about the journey ahead and remain committed to our mission of transforming the educational landscape.”

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Consolidated P&L Highlights

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Particulars (Rs. Cr)	Q1 FY25	Q1 FY24	Y-o-Y	Q4 FY24	Q-o-Q
Revenue from Operations	118.99	68.90	72.69%	102.61	15.96%
Other Income	7.43	1.58		1.30
Total Income	126.42	70.48	79.37%	103.91	21.66%
Gross Profit	72.61	38.38	89.16%	62.94	15.35%
Gross Profit Margin (%)	61.02%	55.71%		61.34%
Operating Expenses Advt & Business Promotion	16.05	10.27	56.25%	13.31	20.58%
Corporate Costs	5.87	5.58	5.11%	6.42	(8.53)%
Other Expenses	29.29	16.93		21.36
Non-Operating Expenses ESOPs/RSU	1.22	1.53		0.44
EBITDA	27.61	5.64	389.60%	22.71	21.55%
Finance Cost Depreciation Tax Expenses	29.92 22.33 0.51	8.45 18.96 (2.44)		39.50 22.55 (0.80)
PAT	(25.16)	(19.33)		(38.54)

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#Gross profit calculation: (Revenue – Direct Costs) | GP Margin: GP / (Revenue from Operations)

Veranda Company Overview

Ve randa Learning – A Quick Glance

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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

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KEY STRENGTHS
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Promoters have a collective experience of over 40 years in the education sector Strong Leadership: and proven track record of entrepreneurial success Provides a wide range of learning solutions through courses including UPSC, Diversified Offerings: competitive exams courses, professional courses, short term upskilling and reskilling courses to students and professionals Courses offered through online, offline hybrid, offline blended, campus in Presence across Platforms: campus and online live instructor led learning models in various languages Established a strong presence in competitive exam-oriented courses like Banking, SPSC, Insurance, RRB , SSC and CA and created niche education platforms across Established Strong Brand: academic and vocational segments.

15+ States

PRESENCE ACROSS INDIA

5 Mn+

MONTHLY WEBSITE TRAFFIC

4 Mn+

YOUTUBE SUBSCRIBERS

9+/10

AVERAGE USER RATING

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Our Journey so far

ACQUISITIONS IN VERANDA XL LEARNING SOLUTIONS

• J. K. SHAH CLASSES AND LAUNCH OF ELCs • March ’24: Acquired

• INCORPRATION LAUNCHES & ACQUISITIONS Tapasya Educational

• Incorporated in November 2018 • July’21: Launched CA course • May’22: Launched Institutions offered by Veranda CA Edureka Learning • April ’24: Business Transfer

• • Aug’21: Launched UPSC course Centre (ELCs) Agreement with Logic offered by Veranda IAS • Oct’22: Acquired J. K. Management Training

• • Sep’21: Acquired Edureka, Shah Classes Institute enabling Veranda to establish global footprints • July’24 : Strategic partnership with Pearson

• 2018 2020 2021 2022 2022 2023 2024 • Jan’23: Business Transfer Agreement with

• Acquired Content, brand, • Apr’22: Listing on BSE & NSE Chennai Race • May’23: Announces association with 7 companies under Veranda Administrative Learning Solutions

• • July’23: Veranda Race joining hands with

• Launched own mobile app Sreedhar’s College of Competitive Exams

• Dec’20: Acquired Content, brand, education materials through Veranda Race; commenced operations

• Dec’20: Launched own mobile app comprising all integrated courses

LISTING ON EXCHANGES ACQUISITIONS IN VERANDA ADMINISTRATIVE SOLUTIONS

KEY ACQUISITION

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Our Segment wise Brand Portfolio

Academic Vocational

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Test Prep

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Brands Under Our Portfolio
Segment Brands Segment Details Courses Offered Modes of Delivery
• Online MBA • M.Tech GI
• Online B.Com • M.Tech CSE
• B.Com and • M.Tech DS
This segment provides
academic education from K- Online CA • PhD - working
ACADEMIC 12 till the graduation, post- • Online MCA professionals • Online /Offline
• CA,CMA,B.COM, Hybrid
graduation & professional
BBA and other
courses
Integrated courses
• DevOps • PMP
• AWS • Microsoft Azure
• Architect • Selenium
• Power BI • Tableau
• Cybersecurity • Data Science
This segment provides all the • Full Stack Web • Data Science with
required upskilling and Development with SQL
VOCATIONAL
reskilling courses for the Python • Cloud and • Online / Offline
individuals • Certification in DevOps
Banking and • Python + SQL
Finance Primer
• Aptitude & Training • Java + SQL Primer
and Foundation
• SSC
• State PSC
• Banking & Insurance
This segment prepares the • RRB
• Online /Offline
TEST PREP individuals for all competitive • CA, CS, CMA, CFA (US) ACCA (UK), CMA
Hybrid
and professional exams (US), EA (US)
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Established a result oriented unique 360[o] Approach

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Weekly lectures by
subject matter experts
with Q&A
Mentors assigned to
every student to track
and ensure progress
Right blend of offline &
online materials to support
the learning outcomes
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Textbooks for all courses
for in-depth structural &
methodical learning
Chapter and paper level
mock tests for practice
Multi-level practice
programmes
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Veranda Learning – Coaching centres across India

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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
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Proficient Team to drive the business

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Kalpathi S Suresh Chairman & Executive Director

• 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 stake in Aptech Limited

• Founded AGS Entertainment in 2003, a production house and later ventured into film exhibition via AGS Cinemas

• Founded Kalpathi Investments in 2007, a NBFC which invests in various ventures

• Awarded the ‘Outstanding Entrepreneur of the Year’ in 1999 by Ernst & Young, India

• Bachelor’s degree of Technology in Electrical Engineering, Master’s Degree in Electrical Engineering

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Kalpathi S Aghoram
Non-Executive Director
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• Bachelor’s degree in Commerce

• A decade of experience in finance, education, IT, entertainment

• Previously associated with TNCA and BCCI

• Kalpathi S Ganesh Kalpathi Aghoram Archana

• Non-Executive Director Non-Executive Director 16

• ▪ Bachelor’s degree in Applied Sciences, ▪ Master’s degree in Computer Science Master ‘s degree in Software Systems ▪ Director of AGS Cinemas; Executive

• ▪ A decade of experience in finance, producer of AGS Entertainment education, IT, entertainment

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Veranda Learning – Key Team Members (1/2)

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Praveen Kumar Saradha Govindarajan President, Corporate Strategy Chief Financial Officer

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Pravin Menon
Chief Marketing Officer
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• 25+ years of experience in cross border acquisitions & pre-acquisition process in M&A

• 11+ years of experience in the areas of Finance, Strategy and Operations

• 26+ years of experience in marketing in EdTech, Media and Publishing businesses

• Previously worked with SSI and Deloitte Haskins and Sells

• Previously led Qube Cinemas and Dr. Agarwal’s Eye Hospital as CFO & SVP, Strategy & Operations

• ▪ BE from College of Engineering, Guindy and MBA from XLRI, Jamshedpur

• Previously worked with Worldwide Media, Vikatan, Bennet Coleman & Network Digitech

• Member of ICAI and ICWAI ▪ BE from College of Engineering, Guindy and ▪ Bachelor’s degree from University of Mumbai MBA from XLRI, Jamshedpur

• Rajesh Pankaj

• Chief Program Officer Venkatesh K Vivek Sapre Chief Human Resource Officer

• Chief Instruction Delivery

• ▪ 30+ years of industry experience spanning technology, education & content development ▪ 25+ years of experience in Strategy and ▪ 16+ years of experience in leadership role in execution HR and managerial roles of strategic

• ▪ Previously worked with Pearson, MPS, HCL TalentCare, Everon Education and Hurix ▪ Previously worked with SSI, e4e, TCS, Primex significance and Wellcorp at senior management roles ▪ Previously worked with NeoGrowth ,E&Y and

• ▪ B.Sc in Chemistry from Mahatma Gandhi L&T Finance . University and PG Diploma from NIIT ▪ Executive MBA from IIM-B and is a Certified Corporate Director from IOD ▪ MBA from XLRI Jamshedpur

• MBA from XLRI Jamshedpur

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Veranda Learning – Key Team Members (2/2)

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• Santhoshkumar P

• Bharat Seeman CEO, Veranda Race

• CEO, Veranda IAS Ex-founder, Veranda Race ▪ 7+ years of experience in operations

• ▪ 10+ years of experience in business management at Veranda RACE

• leadership ▪ MBA from Illinois Tech Stuart School of

• ▪ Master’s degree in Technology from Anna Business and Master’s degree from

• University Great Lakes Institute of Management

• Aditya Malik CEO, Veranda Race CEO, Veranda

• CEO – Veranda Higher Ed IAS Ex-founder, Veranda Race ▪ 7+ years of experience in operations

• ▪ MBA with a work experience of 28 years & ▪ 10+ years of experience in business management at Veranda RACE Education experience of 8 years leadership ▪ MBA from Illinois Tech Stuart School of

• ▪ Previously worked with ANZ Grindlays, Bank Of ▪ Master’s degree in Technology from Anna Business and Master’s degree from America, American Express, GE, Talently University Great Lakes Institute of Management 18

• J K Shah Pooja Shah Vishal Shah

• Executive Chairman, Joint COO, JKSC Joint COO, JKSC JKSC

• ▪ Founder, pioneer and a seasoned ▪ Education enthusiast focused on disrupting ▪ 7+ years of experience in managing business educationist hybrid educational spaces development & operations and lead

• ▪ 38+ years of proven industry experience ▪ Before JK Shah, began her journey as an generation functions in leading and managing CA Articled Assistant at Arvind H Shah & Co ▪ Heads the online coaching vertical at JK coaching classes ▪ B.Com in Accounting & Finance 18 from Shah Classes 18 University of Mumbai and member of the ICAI ▪ B.Com from NMIMS and member of the ICAI

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Veranda Growth Strategy

Veranda Learning – Growth Strategy

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TRACK RECORD – FY 24

✓ Attuned to the evolving demands of learners and job market, constantly New Courses diversify range of courses and Offering ✓ Proactive approach to identify emerging disciplines and skills, and design courses to meet needs of learners for rewarding career opportunities ✓ Holistic approach by catering to both individual learners (B2C) and Strengthen Focus on B2C corporate clients (B2B) and B2B Spectrum ✓ Provide tailored learning solutions to businesses to help them upskill their

• ✓ Holistic approach by catering to both individual learners (B2C) and corporate clients (B2B)

• ✓ Provide tailored learning solutions to businesses to help them upskill their employees/students and enhance their workforce’s capabilities

Content Expansion and Publishing

• ✓ Content expansion and publishing hold a pivotal role within strategic priorities, and invest in relevant initiatives that support this.

Strategic Acquisitions Geographic Expansion through Preferred Delivery Centres (PDCs)

• ✓ Committed to identifying and seizing strategic acquisition opportunities

• ✓ Acquiring complementary educational platforms, content providers, and technology companies

• ✓ Aims to enrich offerings and expand customer reach

• ✓ Recognises the importance of catering to regional preferences and diverse learning needs thus established Preferred Delivery Centres (PDCs) in strategic locations

• ✓ These physical hubs facilitate the integration of localised content and teaching methodologies, ensuring

6,93,874 TOTAL NO. OF LEARNERS

1,58,407 INDIVIDUAL LEARNERS (B2C) 117 CORPORATE CLIENTS (B2B)

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ACQUISITIONS (FY23-FY24)

+ 200

PDCs ACROSS STATES

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Industry Growth Drivers

Geographical Segmentation - Global

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Region	Market Size (2021)	Market Size (2027)	Growth Rate 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 & Africa	$25.25 BN	$53.52 BN	13.34%

22

Source: Arizton Advisory & Intelligence Report

Indian Ed-tech Sector – Market Size

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90 30.00%
Edtech Market in India 2021–2027 ($ billion)
80
25.00%
70
60 20.00%
Growth Rate 50
15.00%
40
19.17%
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% 15.56% 19.18% 22.07% 23.41% 24.12%
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23

Source: Arizton Advisory & Intelligence Report

Indian Sector – Boom for Upskilling & Reskilling Courses

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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 years

KEY SURVEY RESPONSES

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HR providing employees with Upskilling & Model of employees receiving Upskilling & Employees prefer to work with company
Reskilling Training Reskilling Training providing Upskilling & Reskilling Training
20%
Upskilling 31% 26%
Reskilling 2%
11%
Both 59%
69%
74%
Never 8%
Online Offline Both Yes No
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Source: McKinsey global survey in February 2020

24

Financial Performance

Financial Highlights

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Total Income(Rs. Cr) EBITDA (Rs. Cr) Revenue Break-up (FY24)
370.02
62.29 26%
27.61
199.92
74%
126.42
-33.67 Online % Offline %
FY23 FY24 Q1FY25 FY23 FY24 Q1 FY25
Enrolments – B2C
1,58,407
91,667
45,028
FY23 FY24 Q1 FY25 26
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Let’s Connect

Ernst & Young, LLP Mr. Abhishek Bhatt abhishek.bhatt3@in.ey.com

Veranda Learning Solutions

Mr Vivek Raghuram, Investor Relations

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vivek.r@verandalearning.com

Ms. Mahalakshmi Venkatachalam mahalakshmi.venkatachalam@in.ey.com

Veranda Learning Solutions Ltd, G.R. Complex, First Floor, No. 807808, Anna Salai, Nandanam, Chennai - 600035, Tamil Nadu