Veranda Learning Solutions Limited

rs,

ions Limited October 28, 2025 BSE Limited Dept of Corporate Services, Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai – 400 001 National Stock Exchange of India Limited The Listing Depart

20%

Commerce Test Prep Government Test Prep Vocational Financial Metrics Q2FY26 Revenue growth: -20% YoY to INR 127 Cr. Reported EBITDA : INR 48 Cr. up 63% YoY PAT: INR 23 Cr. up 185% YoY ~45K

INR 127

Test Prep Government Test Prep Vocational Financial Metrics Q2FY26 Revenue growth: -20% YoY to INR 127 Cr. Reported EBITDA : INR 48 Cr. up 63% YoY PAT: INR 23 Cr. up 185% YoY ~45K Additional Learne

INR 48

Vocational Financial Metrics Q2FY26 Revenue growth: -20% YoY to INR 127 Cr. Reported EBITDA : INR 48 Cr. up 63% YoY PAT: INR 23 Cr. up 185% YoY ~45K Additional Learners in Q2FY26 200+ Centers sp

63%

inancial Metrics Q2FY26 Revenue growth: -20% YoY to INR 127 Cr. Reported EBITDA : INR 48 Cr. up 63% YoY PAT: INR 23 Cr. up 185% YoY ~45K Additional Learners in Q2FY26 200+ Centers spread across

INR 23

s Q2FY26 Revenue growth: -20% YoY to INR 127 Cr. Reported EBITDA : INR 48 Cr. up 63% YoY PAT: INR 23 Cr. up 185% YoY ~45K Additional Learners in Q2FY26 200+ Centers spread across India. 100+ stude

185%

nue growth: -20% YoY to INR 127 Cr. Reported EBITDA : INR 48 Cr. up 63% YoY PAT: INR 23 Cr. up 185% YoY ~45K Additional Learners in Q2FY26 200+ Centers spread across India. 100+ students secured

182%

Q2 and H1 FY26 performance has been exceptional, with top-line and bottom-line growth of 20% and 182% YoY in Q2, and 20% and 148% YoY in H1, underscoring the success of our continued focus on operatio

148%

has been exceptional, with top-line and bottom-line growth of 20% and 182% YoY in Q2, and 20% and 148% YoY in H1, underscoring the success of our continued focus on operational excellence and strategic

5 %

(INR Cr.) Q2FY25 Q2FY26 5 S u s t a i n e d m o m e n t u m i n Q 2 & H 1 F Y 2 6 ; PAT u p 1 8 5 % Revenue from Operations for Q2FY26 stood at INR 126.7 Cr, marking a robust growth of 20% year-on

INR 126.7

o m e n t u m i n Q 2 & H 1 F Y 2 6 ; PAT u p 1 8 5 % Revenue from Operations for Q2FY26 stood at INR 126.7 Cr, marking a robust growth of 20% year-on-year. Gross Profit stood at INR 77.7 Cr, translating in

INR 77.7

Q2FY26 stood at INR 126.7 Cr, marking a robust growth of 20% year-on-year. Gross Profit stood at INR 77.7 Cr, translating into a gross margin of 61%. The expenses has been remarkably brought down in one

“ Overseeing operations will help the company upstream profits through service fee  Builds presence through the value chain  Better cost optimization  EBITDA CAGR is expected to be ~20% over the 3 years from FY25 to FY28.”

“• • • • Powered by focused digital marketing AI trainings for staff Launching JEE/NEET across all locations in Bangalore Increasing number of centres based on franchise owned company operated model by 10 by FY27 25 21 Revenue (INR Cr.) FY25 FY26E 15 Government Test Prep: Major focus on geographic expansion ( I n I N R C r o r e s ) 136 101”

Financial implications and targets

1

Brands

1

Financial implications and targets

 Overseeing operations will help the company upstream profits through service fee  Builds presence through the value chain  Better cost optimization  EBITDA CAGR is expected to be ~20% over the 3 years from FY25 to FY28. • • • • Powered by focused digital marketing AI trainings for staff Launching JEE/NEET across all locations in Bangalore Increasing number of centres based on franchise owned company operated model by 10 by FY27 25 21 Revenue (INR Cr.) FY25 FY26E 15 Government Test Prep: Major focus on geographic expansion ( I n I N R C r o r e s ) 136 101

Brands

Veranda RACE (Acquired in Dec-20) VIAS (Commenced in Feb-21) Phire (Acquired in Aug-23) Talent (Acquired in Aug-23) • Capabilities: starting from UPSC to SPSCs , Public sector banks, Stock selection exams etc. • Market penetration: Largest in the southern regions • In case of Race business which comes under Government test prep segment, most of the centers are operated under FIFO model FY25 FY26E Strategic Priorities for Government Test Prep Revenue CAGR (FY25-28E) is expected to be 30%, driven by geographic expansion cost optimization in the segment • • • Drive revenue growth through institutional partnerships, targeted admission campaigns and optimized batch scheduling Implementing FOCO model powered by VIAS to ensure controlled quality Targeting xx+ enrolments on online and offline 16 Let’s Connect! Veranda Learning Solutions Limited Company Contact Mr. Mohasin Khan, CFO @mohasinkhan.srandalearning.com Investor Relations Contact Ms. Soumya Chhajed Research Analyst soumya@goindiaadvi