Veranda Learning Solutions Limited — Interim / Quarterly Report 2026

Feb 6, 2026

Veranda Learning Solutions Limited

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	February 06, 2026	February 06, 2026
BSE Limited Dept of Corporate Services, Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai – 400 001 Scrip Code: 543514	National Stock Exchange of India Limited The Listing Department, Exchange Plaza, Bandra Kurla Complex, Mumbai – 400 051 Symbol: VERANDA

Dear Sir/Madam,

Sub: Press Release on the Unaudited Financial Results of the Company for the Quarter ended December 31, 2025

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we have enclosed herewith Press Release on the Unaudited Financial Results of the Company for the quarter ended December 31, 2025.

Kindly take the same on record and display the same on the website of your exchange. This information will - also be hosted on the Company’s website at https://www.verandalearning.com/web/index.php/stock exchange-intimations.

Thanks & Regards, For Veranda Learning Solutions Limited

S Digitally signed by S BALASUNDHA BALASUNDHARAM Date: 2026.02.06 RAM 12:50:10 +05'30'

S. Balasundharam Company Secretary & Compliance Officer (M. No: ACS-11114)

Veranda Learning Solutions Limited

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G.R. Complex, First Floor, No. 807-808, Anna Salai, Nandanam, Chennai - 600 035 CIN: L74999TN2018PLC125880 Email- secretarial@verandalearning.com www.verandalearning.com Ph: +91 44 4690 1007

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Veranda Learning Solutions Reports Q3FY26 Performance Robust Q3 & 9M FY26 performance & 4[th] Consecutive PAT Positive Quarter Q3 YoY Revenue up 52%; EBITDA +328%; PAT +110%

Highlighting continued execution of Veranda 2.0 strategy

Chennai, 6[th] February, 2026: 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 and solutions, announced its financial results for the quarter ended December 31[th] , 2025.

Operational Highlights: Year-on-year performance remained strong across quarters, driven primarily by higher enrolments in the Government Test Prep and Commerce verticals.

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55% uptick in the Boosting collections by 46%
Enrollments in a year.. (INR Cr.)
1,11,363
144
71,897
98
Q3FY25 Q3 FY26 Q3FY25 Q3 FY26
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• Revenue growth of 52% YoY supported by strong bookings across the verticals, multi-city course launches, strategic tieups especially sustaining strong demand across flagship titles.

• Operational efficiency enhanced through customized learning, process standardization, cross-leveraging of resources, and cost optimization across business units yielding 328% YoY uptick in EBITDA.

• Reduction in the finance cost and depreciation further boosted YoY PAT by 110% to INR 17 Cr.

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Q2FY26 9MFY 26
Particulars (Rs. In Crs) Q3FY 26 Q-o-Q Q3 FY25 Y-o-Y 9M FY 25 Y-o-Y
(Adj) (Adj)
Revenue from Operations 116.7 126.7 -8% 77.0 52% 349.1 270.4 29%
Gross Profit 75.8 77.7 -2% 51.7 47% 221.3 172.6 28%
Gross Profit Margin (%) 65% 61% 4% 67% -2% 63% 64% -1%
Other Income 10.4 2.1 401% -0.8 1392% 29.8 4.2 601%
Operating Expenses
Advt. & Business Promotion 4.4 4.2 6% 4.4 1% 14.0 22.2 -37%
Corporate Costs 5.3 3.7 41% 6.4 -17% 13.3 18.4 -28%
Other Expenses 23.7 22.8 4% 61.7 -62% 72.7 102.5 -29%
Non-Operating Expenses
ESOPs/RSU 0.2 0.8 -72% 1.5 -86% 1.4 4.4 -68%
EBITDA 52.6 48.3 9% -23.1 328% 149.7 29.3 409%
Rent as per IND AS 10.9 10.0 9% 9.6 13% 31.8 32.5 -2%
Finance Cost 9.5 8.8 8% 29.1 -67% 44.4 83.2 -47%
Depreciation 8.0 5.5 46% 104.7 -92% 20.9 128.0 -84%
Tax Expenses 7.2 0.7 926% 3.4 111% 9.5 8.4 13%
PAT 17.0 23.3 -27% -169.9 110% 43.1 -222.8 119%
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Key Consolidated Financial Highlights:

• Revenue from operations in Q3 FY26 rose 52% year-on-year to INR 117 Cr. Gross profit is up 47% YoY to INR 76 Cr, driving a gross margin of 65%.

• The cost discipline translated into a 328% surge in EBITDA to INR 53 Cr, with EBITDA margins expanding to 45%, underscoring strong operating leverage.

• The continued execution of the Veranda 2.0 restructuring strategy, the benefits of which were visible from the previous quarter, materially lowered finance costs and depreciation during the year, resulting in a 110% YoY increase in PAT to INR 17 Cr in Q3 FY26.

• Consistent strong quarterly execution since the start of FY26 has translated into a robust 9M performance, with revenue reaching INR 349 Cr, up 29% YoY. Expenses remained largely stable, enabling operating leverage and driving EBITDA to INR 150 Cr, a 409% YoY increase. This execution-led performance over the nine-month period resulted in PAT of INR 43 Cr, up 119% YoY, underscoring the company’s disciplined and execution-focused approach.

– Business Updates Veranda 2.0 Strategy

• Advanced the demerger of the Commerce Vertical under Veranda 2.0; NOC obtained from exchanges and no Observation letter pursuant to clearance from SEBI. Further to that scheme has been filed with NCLT to create J.K. Shah Commerce Education Ltd, unlocking focused growth and long-term shareholder value.

• Formed SNVA Veranda via strategic disinvestment, combining Veranda’s skilling brands with SNVA Veranda’s global university network, targeting 200k+ learners, ₹250+ Cr FY27 revenue, ₹60+ Cr EBITDA, with plans for a separate listing.

Segmental Performance

Segmental Performance
Particulars (Rs. In Crs)	Q3 FY26 Q2 FY26 Q-Q Q3 FY25 Y-Y 9MFY26 9MFY25 Y-Y
Operating Revenue
Academic	7.4 7.3 1% 7.9 -7% 24.9 20.6 21%
Commerce TP	80.2 86.0 -7% 38.1 111% 237.4 138.2 72%
Government TP	29.1 33.3 -12% 31.0 -6% 85.7 111.0 -23%
EBITDA
Academic	5.7 5.4 6% 3.3 74% 16.6 11.3 47%
Commerce TP	35.0 41.0 -15% 14.2 146% 123.0 58.8 109%
Government TP	4.7 6.0 -21% -2.6 279% 9.9 11.4 -13%

Segment Wise Operational Outlook:

• Academics: Launched JEE/NEET and daycare across all schools, conducted expert-led webinars, and strengthened brand recall through digital-first marketing initiatives in Q3.

• Commerce Test Prep: Drove strong scale-up with a healthy increase in collections and bookings, added 6 new franchisees and established experience centres for BB virtuals.

• Government Test Prep: Delivered a record 10,000+ Q3 admissions, crossed 5 lakh YouTube subscribers, and achieved above-average exam clearance rates for students.

• Vocational: Generated revenues through internal monetization, launched 35+ global courses.

– Veranda Learning Solutions Management Statement on Q3FY26 Performance

Mr. Suresh S. Kalpathi, Executive Director and Chairman of Veranda Learning Solutions, said, “We closed the first nine months of the year with strong momentum, supported by steady growth in student enrolments, an expanded course portfolio, and the successful rollout of new programs across both online and offline formats. Our Q3 and 9M FY26 performance has been particularly strong, with Q3 registering 52% YoY growth in revenue, while 9M FY26 revenue grew 29% YoY. This performance reflects our sustained focus on operational excellence and disciplined strategic expansion.

All business segments delivered healthy growth during the period. With the approval of the commerce demerger and completion of the vocational divestment, we are now better positioned to sharpen focus and scale our core verticals- Academics and Government Test Preparation.

Going forward, our priorities include strengthening faculty capabilities, accelerating digital-led admissions, deepening partnerships with universities and corporates, launching higher-value programs, and optimizing marketing effectiveness. These initiatives are aimed at sustaining growth, improving operational efficiency, and creating long-term value across our platforms.”

About Veranda Learning Solutions:

Veranda Learning Solutions is a leading provider of educational services in India, offering K-12 education, test preparation, vocational training, and professional certifications. The company combines online and offline models for scalable, efficient growth and is committed to empowering individuals for global career opportunities.

	Company Contact:	Investor Relations:
	Mr. Mohasin Khan, CFO Veranda Learning Solutions Limited mohasinkhan.s@verandalearning.com	Ms. Soumya Chhajed Go India Advisors soumya@goindiaadvisors.com

Visit us at www.verandalearning.com | CIN L74999TN2018PLC125880

DISCLAIMER: Any forward-looking statements about expected future events, financial and operating results of the Company are based on certain assumptions which the Company does not guarantee the fulfilment of. These statements are subject to risks and uncertainties. Actual results might differ substantially or materially from those expressed or implied. Important developments that could affect the Company’s operations include a downtrend in the industry, global or domestic or both, significant changes in political and economic environment in India or key markets abroad, tax laws, litigation, labour relations, exchange rate fluctuations, technological changes, investment and business income, cash flow projections, interest, and other costs. The Company does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date thereof