Dear Shareholders,
I am pleased to present to you the Annual Report of Veranda Learning
Solutions for FY 2023-24.
Your Company has shown its commitment to the overarching mission of
offering a lifelong learning journey to our learners, ensuring that at every stage of
their life - be it K-12, graduation, preparing for competitive exams, upskilling, and
beyond - they have access to premier educational resources and opportunities thanks to the
Veranda ecosystem.
In FY 2023-24, we achieved significant milestones.
We became EBITDA positive and doubled our operating revenues. This
year, our journey has been characterised by strategic acquisitions that have expanded our
presence in the education sector and built the foundations of the Veranda ecosystem. In
May 2023, we acquired companies that exemplify both pedigree and profitability: Talent
Academy and Publications, Veranda K-12 (formerly Educare Infrastructure), BAssure, Phire,
and Six Phrase.
These acquisitions have allowed us to offer a more comprehensive range
of educational solutions.
Additionally, we formed a partnership with Sreedhar's CCE in July 2023
and acquired Tapasya Educational Institutions Private Limited in January this year. In
April 2024, we announced a business transfer agreement with Logic Management Training
Institute. Each of these strategic moves has brought invaluable resources and expertise
into our organisation, further aligning with our vision to provide premier educational
resources and opportunities.
Another standout achievement has been our collaboration with
prestigious educational institutions across India and abroad. These partnerships have
enabled us to develop and launch cutting-edge courses that align with industry
requirements, bridging the gap between academia and the professional world. By focusing on
industryrelevant skills, we empower our students to excel in their chosen fields and
contribute meaningfully to society.
In line with our strategic vision, we have forged impactful
partnerships. We are proud to collaborate with Illinois Tech to offer tech-focussed
courses, providing students with a strong foundation in technology and preparing them for
higher education and career success. Furthermore, our strategic agreement with Pearson,
the world's leading learning company, allows us to combine our expertise in content
creation and the delivery of resources for test preparation and higher education in India.
This collaboration enhances our ability to provide high-quality educational content that
meets the needs of learners preparing for competitive exams and seeking higher education
opportunities.
In our continuous effort to innovate and provide inclusive education,
we launched Veranda Pathfinder, an initiative dedicated to fostering inclusive education.
As a first step, Veranda Pathfinder has hand-picked students from financially
disadvantaged backgrounds and is offering free training for the TNPSC (Tamil Nadu Public
Service Commission) exams. This initiative stems from my belief that affordability should
not hinder access to quality education. Students who are part of Veranda Pathfinder have
been given free education based on merit and means-based evaluation.
Furthermore, I am excited to announce the launch of Veranda Privilege,
a program designed for our alumni. Students who have completed a course with any Veranda
entity are automatically eligible to join this privilege program that offers a host of
benefits, including priority admissions to Veranda programs, continuous learning
opportunities, and networking, among others. This initiative underscores our mission to
provide continuous support for our students' educational journeys.
Another important milestone in our journey was when Bharat Law House
published Veranda's Enhanced Learning Guides for CA Foundation.
This comprehensive set comprises several books designed to aid students
in their preparation for the CA Foundation exams, reflecting our mission to provide
top-notch educational resources.
Being an end-to-end player has been a vital part of our strategy. We
have continuously expanded our course catalogue to cater to diverse learning needs, from
K-12 education to professional upskilling. Our emphasis on leveraging technology has borne
fruit, with the introduction of a wide range of online courses that utilise Artificial
Intelligence and other emerging technologies. These advancements have not only made
education more accessible but also more engaging and immersive for our students.
Looking ahead, I am filled with optimism and excitement for the future
of Veranda Learning Solutions. Our focus remains on exploring opportunities for strategic
growth, both organically and through targeted acquisitions. We are dedicated to enhancing
our offerings, investing in cutting-edge technologies, and delivering unparalleled
educational experiences.
I would like to express my gratitude to our dedicated team, whose
commitment and passion have been instrumental in our success. Their relentless sense of
purpose, coupled with their innovative spirit, has allowed us to achieve remarkable
milestones and stay at the forefront of the education sector.
Finally, I would like to extend my heartfelt appreciation to you, our
esteemed shareholders. Your trust and support have been the cornerstone of our journey,
and we remain steadfast in our commitment to creating long-term value for you. Together,
we will continue to reshape the education sector and empower learners to unlock their full
potential.
Warm regards,
| Mr. Kalpathi Suresh |
| Executive Director & Chairman |