Veranda targets Rs 176 crore FY27 revenue after Rs 104 crore H1

For financial year 2027 (FY27), Veranda Learning Solutions Limited forecasts Rs 176 crore of revenue after reporting Rs 104.09 crore in the first half (H1), or about 59% of the annual target. Its quarterly allocation leaves Rs 71.92 crore for the second half (H2), alongside FY27 guidance of Rs 46.42 crore in earnings before interest, tax, depreciation and amortisation (EBITDA) and Rs 32.24 crore in profit after tax (PAT).

What is Veranda's FY27 revenue and profit guidance?

Veranda guides for Rs 176 crore of FY27 revenue, Rs 46 crore of EBITDA and Rs 32 crore of PAT in its annual guidance table. The more detailed quarterly allocation gives totals of Rs 176.00 crore in revenue, Rs 46.42 crore in EBITDA and Rs 32.24 crore in PAT. The presentation identifies Q1 and Q2 as actuals, while the Q3 and Q4 allocation is based on past trends.

Compared with FY26, the FY27 revenue target is Rs 17 crore higher than the Rs 159 crore FY26 figure, while EBITDA guidance is Rs 11 crore above Rs 35 crore. The PAT outlook represents a change from a FY26 loss of Rs 42 crore to a FY27 profit target of Rs 32 crore. These are management guidance figures, rather than reported FY27 full-year results.

The annual figures are rounded to whole crores in the first FY27 guidance table. Veranda's quarterly table provides the more granular Rs 46.42 crore EBITDA and Rs 32.24 crore PAT totals, which should be read as the presentation's detailed allocations rather than as revised operating results.

How much of Veranda's FY27 revenue target is already reported?

Veranda has reported Rs 104.09 crore of FY27 revenue in the first half, comprising Rs 53.49 crore in Q1 and Rs 50.6 crore in Q2. That total exceeds half of the Rs 176.00 crore annual revenue allocation and leaves Rs 71.92 crore assigned to Q3 and Q4. The quarterly revenue plan therefore declines from Rs 50.6 crore in Q2 to Rs 39.96 crore in Q3 and Rs 31.96 crore in Q4.

The Q2 segment data show that Government Test Prep supplied the year-on-year revenue increase, while Academic revenue was lower. Government Test Prep revenue rose to Rs 43.4 crore in Q2FY27 from Rs 33 crore in Q2FY26, an increase of Rs 10.4 crore. Academic revenue moved to Rs 6.8 crore from Rs 7 crore over the same comparison.

Government Test Prep also recorded higher Q2 EBITDA, reaching Rs 10.7 crore in Q2FY27 from Rs 6 crore in Q2FY26. Academic EBITDA rose from Rs 5 crore to Rs 6.3 crore while its segment revenue declined by Rs 0.2 crore. The presentation does not provide a reconciliation from these two segment measures to the consolidated quarterly guidance.

What does Veranda expect from the FY27 second half?

Veranda expects H2FY27 revenue of Rs 71.92 crore, which is lower than the Rs 104.09 crore reported in H1FY27. The Q3 allocation is Rs 39.96 crore and the Q4 allocation is Rs 31.96 crore. The company explicitly says this distribution between Q3 and Q4 is based on past trends, while the first two quarters are actuals.

For EBITDA, Veranda reported Rs 24.44 crore in H1 through Q1 and Q2, while the detailed FY27 allocation sets Rs 12.19 crore for Q3 and Rs 9.75 crore for Q4. Profit before tax was Rs 5.03 crore in Q1 and nil in Q2, followed by allocations of Rs 6.87 crore and Rs 4.18 crore for Q3 and Q4. PAT is allocated at Rs 4.14 crore in Q3 and Rs 2.52 crore in Q4, below the Rs 12.17 crore and Rs 13.4 crore actuals shown for the first two quarters.

Which initiatives underpin Veranda's FY27 outlook?

Veranda identifies Karnataka expansion in Government Test Prep and pre-kindergarten managed-school operations as its two strategic FY27 priorities. The Karnataka plan is intended to address Karnataka Public Service Commission and other state-level exam aspirants through localised content and offline coaching centres. The pre-kindergarten plan would add managed-school services and extend the K-12 value chain through earlier relationships with students and parents.

Government Test Prep opened two centres in Tenkasi and Dharmapuri and a new PV in Coimbatore during Q2FY27. Veranda also cited a partnership with Dr. Rajkumar Academy of Civil Services, with centres planned in Mysuru and Kalaburagi. Its RACE platform has more than 40 centres across South India and offers courses covering Union Public Service Commission, Staff Selection Commission, banking, Tamil Nadu Public Service Commission, Karnataka Public Service Commission and other examinations.

The presentation forecasts Government Test Prep revenue of Rs 141 crore in FY27E, compared with Rs 114 crore in FY26. Managed Schools revenue is forecast at Rs 35 crore in FY27E, versus Rs 30 crore in FY26. Veranda describes its managed-schools base as six schools serving more than 5,400 students, and sets a target of more than 30 schools by FY30.

The presentation also lists a 60% EBITDA margin target for H1FY27, without specifying in that target line whether it applies to a particular segment or the consolidated business. Its K-12 activities in Q2 included experience centres in Perungudi, Trichy and Bengaluru, an academic audit, solar power at Bollinen school and School Canvas enterprise resource planning software. Veranda Sprouts preschool admissions are stated to open in January 2027.

Conclusion

Veranda's FY27 plan relies on a front-loaded revenue profile: Rs 104.09 crore was reported in H1 against the Rs 176 crore full-year target, leaving Rs 71.92 crore allocated to H2. The FY27 guidance also envisages higher EBITDA than FY26 and a move from a Rs 42 crore FY26 PAT loss to a Rs 32 crore profit target, while Government Test Prep is the principal source of the Q2 segment revenue increase.

The next measures to watch are execution of the Rs 39.96 crore Q3 and Rs 31.96 crore Q4 revenue allocations, the planned Karnataka centres and pre-kindergarten managed-school services, and progress toward the more than 30 managed-schools target by FY30. Veranda also presents FY27E segment revenue targets of Rs 141 crore for Government Test Prep and Rs 35 crore for Managed Schools, which will indicate how the expansion plan is tracking.