Veranda Learning Solutions Limited has informed the Exchange about Investor Presentation
Veranda Learning Solutions Limited
08th December 2023
To The Secretary BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001
Scrip Code: 543514
To The Manager, Listing Department, National Stock Exchange of India Limited Exchange Plaza, C-1, G Block, Bandra-Kurla Complex, Bandra (East), Mumbai – 400 051 Scrip Code: VERANDA
Sub:
Intimation Under regulation 30(6) of SEBI Requirements) Regulations, 2015.
(Listing Obligations & Disclosure
In Continuation of our earlier intimation dated 6th December 2023, the Company participated in the 19th Edition of Market Marvel Event organized by Phillip Capital on Friday 8th December 2023 in Mumbai and presented the recent developments, future strategies and key milestones of the Company to the Investors/ Analysts. A copy of the presentation shared with the Investors/Analysts is enclosed herewith.
This information will also 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, Yours faithfully, For Veranda Learning Solutions Limited
M Anantharamakrishnan Company Secretary & Compliance Officer M. No: ACS-7187
contact@verandalearning.com
www.verandalearning.com
+91 44 4296 7777
34, Thirumalai Road, T Nagar, Chennai, Tamil Nadu 600 017
CIN: L74999TN2018PLC125880
Veranda Learning Solutions – Outlook Dec 2023
Veranda Learning | Integrated learning solutions in online and offline mediums…
Veranda Learning Overview
Key Operational Metrics
▪ Incorporated on Nov 20, 2018, Veranda is a multi-product Education company that delivers its courses online, offline and in hybrid format
▪ Company has started its business operations in Dec’20 by
acquiring content of Chennai RACE
220 + PDCs
400K+
Signed up across 18 states
Students trained in H1FY 2024
▪ Offers diversified and integrated learning solutions in online,
offline blend and offline hybrid to Students and Learners
Products / Services
100+
Total Courses Offered
15
Studios
▪ Course material available Kannada, English and Hindi
in Tamil, Telugu, Malayalam,
VLS Consolidated – Quarterly Op Revenue Trends (INR Cr.)
Multilingual
Geog. Presence
▪ Engagement with PDCs & Pan India Coverage
▪ International footprint in Canada, USA, and UK
110
71
48
49
30
37
▪ Infrastructure facility with technology service providers like
ZOHO, Amazon Web and Testpress, etc.
Q3 FY22 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24
State-of-the-art Infrastructure
▪ 15 recording studios
2
…with a strong promoter group & an established track record in the EdTech sector…
Kalpathi Group Overview
Established Track Record in Franchisee Rollouts
◼ The Kalpathi AGS Group is promoted by Kalpathi S. Aghoram, Kalpathi S.
Ganesh and Kalpathi S. Suresh.
◼ The group has owned various businesses over the last 30 years.
◼ It built one of the world’s largest education networks for vocational
training in the private sector under the brands of SSI / Aptech
◼ Founded AGS Entertainment in 2003, a production house and later
ventured into film exhibition via AGS Cinemas
◼ Group companies were listed in the NSE, BSE and London Stock Exchange
◼ Group Net Worth: c. INR 2,000 crores (c. $270m)
◼ Pioneer in the education business – built one of the largest vocational
training / education networks under the SSI brand
◼ SSI had successfully acquired and including Aptech’s Training division
integrated numerous businesses
◼ From 2 centres in 1995, at the time of exit, SSI had ~3,000 centers across India, Southeast Asia and Africa; market capitalization of USD 500 Mn
◼ Divested its stake in SSI in 2005, to a consortium of shareholders including
Mr. Rakesh Jhunjhunwala and Mr. Radhakishan Damani
•
•
•
Kalpathi S Suresh
Chairman & Executive Director
in software education, and
He holds a B.Tech. from IIT Madras and M.S. from Clemson University Experienced development, business integration Selected the ‘Outstanding Entrepreneur of the Year’ in 1999 by Ernst & Young, India
purchase
for
Promoter Background
•
•
•
He holds a Bachelor’s Degree in Commerce from the University of Madras He has decades of experience in finance, education, information technology, entertainment He was elected and served as Vice President in TNCA and BCCI
Kalpathi S Aghoram
Vice-Chairman & Non-Executive Director
•
•
He holds a Bachelor’s Degree of Applied Science from Anna University and also holds a Master’s Degree in Software Systems Branch from BITS, Pilani He has decades of experience in finance, education, information technology, entertainment
3
Kalpathi S Ganesh Non-Executive Director
…and with operations being led by an experienced management team
Aditya Malik CEO –Higher ED
Bharat Seeman CEO - Veranda IAS
JK Shah Executive Chairman
Pravin Menon Chief Marketing Officer
▪ MBA with a work Exp of 28 Education
years. with experience of 8 yrs.
▪ Past
Exp with ANZ Of Bank American
Grindlays, America, Express, GE, Talently
▪ 10+ years of experience in
business leadership
▪ Master’s
Technology University
degree from
in Anna
▪ 38+ years of proven industry experience and in leading managing CA coaching classes
▪ 26+ years of experience in marketing in EdTech, Media and Publishing businesses
▪ Previously worked with Worldwide Media, Vikatan, Bennet and Network Digitech
Coleman
Praveen Kumar President, Corporate Strategy ▪ 25+ years of experience in cross border acquisitions and pre-acquisition process in 4 M&A ▪ Previously worked with SSI and Deloitte Haskins and Sells
Rajesh Pankaj Chief Product Officer
Santoshkumar P CEO - Veranda Race
Saradha Govindarajan Chief Financial Officer
Vineet Chaturvedi CEO Edureka
Vivek Sapre Chief HR Officer
▪ 30+
of
years
industry spanning experience technology, education and content development
▪ Previously worked with Pearson, HCL TalentCare, Everon Education and Hurix
MPS,
▪ 7+ years of experience
in operations management at Veranda RACE
▪ MBA from Illinois Tech Stuart School of Business and Master’s degree from Great Lakes Institute
▪ 11+ years of experience in Finance, areas of the Strategy and Operations
▪ 17+ years of experience in large-scale building several data driven platforms of scale
▪ Previously
led
Qube Cinemas and Dr. Agarwal’s Eye Hospital as CFO & SVP, Strategy & Operations
▪ Held
several at
leading Edureka
positions including Sales, Marketing
▪ 16+ years leadership role in HR and Managerial Roles of Strategic Significance
▪ Previously worked with ,E&Y and L&T
NeoGrowth Finance .
4
Growth Strategy | Summary
1
2
3
Acquire strong legacy brands with established track record and proven sustainable outcomes
Build on Acquisitions and expand presence through franchisee network & strategic partnerships
D Deepen the presence through technology
Strong brand recall of Veranda & targets with superior content and with the flexibility of offline/online/blended model to cement Veranda as the platform of choice
5
Existing Ecosystem
Residential Campuses
Skills Training
Mainstream Education
School (K-12)
Graduation
Post Graduation
Upskilling / Continuing Education
Test Prep + Employability
During school+ During UG
During UG
After UG
Consolidated Financial Overview – Existing Business
(All numbers in INR crores)
Veranda Consolidated (Pro-forma)
Veranda Race and IAS
Edureka(B2C,B2B,PGP,ELC)
Veranda Higher Education
JK Shah
Acquisitions closed in Jul 23
Corporate Cost
Total
Revenue
EBITDA
FY23
FY24E
FY25E
FY26E
50.0
79.7
0.7
90.0
64.9
92.1
106.1
37.6
150.0
107.9
111.8
133.8
86.5
190.0
144.1
136.3
164.1
142.2
230.0
199.1
285.3
493.7
666.2
871.7
FY23
-1.4
-16.4
-9.6
24.0
16.1
-20.0
-7.3
FY24E
FY25E
FY26E
15.6
10.8
-5.6
48.0
35.0
-20.0
83.8
22.8
16.2
6.6
60.0
56.3
-22.0
139.9
31.6
21.9
22.3
75.0
83.9
-24.0
210.7
7
Proposed Ecosystem
Residential Campuses
Skills Training
Language Training
School (K-12)
Managed Schools
Graduation
Study Abroad
Post Graduation
Managed Colleges
Upskilling / Continuing Education
Mainstream Education
Test Prep + Employability
IIT JEE/NEET
During school+ During UG
During UG
After UG
Proposed Acquisitions
Financial Overview – Consolidated
Veranda Pro-Forma Existing
Revenue
EBITDA
Total
FY23
285.3
FY24E
493.7
FY25E
666.2
FY26E
871.7
FY23
-7.3
FY24E
83.8
FY25E
139.9
FY26E
210.7
(All numbers in INR crores)
Proposed Acquisitions Pro-forma
Revenue
EBITDA
Total
FY23
497.9
FY24E
600.1
FY25E
712.1
FY26E
804.7
FY23
167.9
FY24E
212.5
FY25E
251.1
FY26E
293.7
Veranda Pro-Forma incl acquisitions
Revenue
EBITDA
FY23
FY24E
FY25E
FY26E
FY23
Total
783.2
1,093.8
1,378.3
1,676.4
160.6
FY24E
296.3
FY25E
391.0
FY26E
504.4
FY25
Debt/EBITDA
1.1
DSCR
2.2
D/E
0.3
Assuming a funding scenario of INR 900 Cr in equity and INR 500 Cr in debt in FY25
9
THANK YOU
V8.4