Veranda Learning Solutions Limited (VERANDA.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-1025.2%

-₹322.05

vs ₹34.81 price

Levered DCF

-₹777.88

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	12.15×	-6.32×	-15.78×	-14.97×	-12.51×	-88.68×	-2,519.19×	-5,028.74×
P/B	1.33×	6.08×	3.34×	3.88×	9.51×	-10,298.77×	-1,684.3×	-5,087.63×
P/S	2.64×	3.32×	3.48×	7.35×	9.75×	241.3×	0×	0×
EV / EBITDA	9.48×	25.99×	34.78×	-42.31×	-22.7×	-81.09×	-2,518.44×	2,518.12×
Gross margin	27.3%	-12.9%	28.5%	9.9%	96.3%	-125.3%	0.0%	0.0%
Operating margin	22.5%	-31.3%	-2.8%	26.2%	-70.9%	-325.4%	0.0%	0.0%
Net margin	21.9%	-52.5%	-22.0%	-49.1%	-77.9%	-325.9%	0.0%	0.0%
Current ratio	0.69×	0.4×	0.29×	1.3×	0.9×	0.44×	0×	0.34×
Debt / equity	0.4×	2.64×	1.55×	1×	2.64×	-116.45×	-0.4×	-0.55×
Interest coverage	1.39×	-1.12×	-0.13×	3.96×	-6.21×	-264.85×	0×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	11.0%	-96.2%	-21.1%	-25.9%	-76.0%	13909.7%	66.9%	101.0%
Return on invested capital	5.5%	-10.2%	-0.7%	4.6%	-15.5%	-3.8%	110.7%	222.7%
Return on assets	5.8%	-13.2%	-4.9%	-8.9%	-15.3%	-3.6%	-19600.0%	-192.2%
Free cash flow yield	-3.5%	-2.9%	1.1%	-6.4%	-5.9%	-1.9%	-0.0%	-0.0%
Earnings yield	8.3%	-15.8%	-6.3%	-6.7%	-8.0%	-1.4%	-0.0%	-0.0%
Enterprise value	₹16.2B	₹21.7B	₹18.2B	₹14.1B	₹8.9B	₹6.2B	₹4.9B	₹4.9B
Net debt / EBITDA	2.06×	7.23×	10.76×	-6.65×	-3.96×	-0.66×	-0.59×	0.27×
Cash conversion cycle (days)	-12	4	-3	-2,903	-4,515	-3,615	0	0