Zee Learn Ltd.

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zeelearn.comBSE: 533287NSE: ZEELEARN

Market Cap₹ 213 Cr.

Current Price

High / Low₹ 10 / 4

Stock P/E4.7

Book Value₹ 7

Price to Book0.92

Dividend Yield0.00 %

ROCE13.5 %

ROE6.8 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Educational: 73.2% • Training, manpower and related activities: 23.6% • Construction and Leasing: 3.2%

AI Sector View

AI GENERATED

Consumer Services

Buy

Consumer services have a mixed operating backdrop but strong market sponsorship. Foreign tourist arrivals in India rose 6.0% YoY (2026-06), export of services grew 13.0% YoY (2026-06), and headline tourist arrivals were 584000 (Jun/26), though airport passenger traffic was -2.0% YoY (2026-06). Strong FPI inflow of INR 19847 crore over 3 months to 2026-08-31 supports a Buy stance despite some travel softness.

Confidence

73%

View full sector analysis →

PROS

Latest quarter profit grew 344.2% YoY, showing strong momentum
Company generates healthy free cash flow

CONS

Company has a high debt-to-equity of 1.82x
A large part of profit comes from other income (62.6% of PBT)
Company has a low return on equity of -8.8% over last 3 years
Company has a low return on capital employed of -1.1%
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.63x)
Interest coverage is weak at 1.8x - earnings barely cover interest

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Consumer ServicesEducation & TrainingEducational Institutions

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	PWL	126.75	1803.72	36768.74	0.00	-882.80	-595.06	10539.50	1144.20	3.69	-5.41
2.	SEIL	195.05	540.31	3140.30	0.00	2.82	-2.76	16.30	7.51	10.42	26.28
3.	CRIZAC	179.40	14.24	3139.19	4.46	46.17	0.77	201.21	-3.97	52.73	30.40
4.	VERANDA	231.35	15.48	2232.68	0.00	33.87	467.88	149.54	7.37	22.75	35.96
5.	JARO	455.90	26.73	1015.31	1.10	11.17	48.33	70.75	16.60	25.32	21.43
6.	GLOBAL	123.56	24.12	628.94	0.81	3.75	-11.05	14.21	-4.15	29.17	41.68
7.	CLEDUCATE	59.51	0.00	323.10	0.00	-1.67	55.01	127.51	-12.47	2.03	13.62
8.	CPEDU	176.45	13.46	321.01	1.42	8.08	12.54	14.35	-1.17	46.88	64.15
9.	CPCAP	134.65	5.43	244.97	0.00	13.31	23.50	21.95	47.39	9.83	93.11
10.	ZEELEARN	6.50	4.73	213.03	0.00	8.42	344.20	93.32	-13.89	13.46	34.91
11.	TREEHOUSE	6.00	0.00	25.39	0.00	-2.13	-233.00	1.15	-20.14	-6.84	-212.70

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	106	66	68	116	80	58	75	159	108	74	80	177	93
	86	63	45	65	57	52	66	94	79	62	71	124	80
Operating Profit	19	3	22	51	24	7	9	65	30	12	9	53	13
OPM %	18.21%	5.15%	32.90%	44.21%	29.59%	11.22%	11.43%	40.65%	27.45%	16.38%	10.97%	30.11%	13.89%
	11	-5	-5	145	4	6	7	-12	1	5	4	36	4
Interest	12	9	11	10	11	8	10	10	13	13	1	11	8
Depreciation	7	7	6	4	8	8	9	10	11	11	10	12	12
Profit before Tax	11	-17	0	182	8	-4	-3	32	7	-6	1	66	17
Tax %	41.70%	-5.17%	687.88%	7.08%	55.77%	-3.86%	-21.29%	46.66%	72.53%	-5.86%	461.64%	31.17%	37.09%
Net Profit	0	0	0	0	4	-4	-4	17	2	-6	-3	45	8
	0.26	-0.50	0.03	5.19	0.11	-0.12	-0.12	0.52	0.06	-0.19	-0.08	1.39	0.26

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	152	180	269	517	515	257	248	324	356	372	424
	116	121	167	360	346	214	200	299	260	269	337
Operating Profit	36	59	102	158	168	43	47	25	96	103	87
OPM %	23.76%	32.76%	37.97%	30.49%	32.71%	16.76%	19.12%	7.79%	27.07%	27.78%	20.54%
	9	4	4	32	10	56	34	-402	146	5	49
Interest	20	21	19	47	59	51	44	44	42	39	34
Depreciation	10	10	11	28	64	50	37	32	24	36	44
Profit before Tax	15	32	76	115	56	-2	1	-452	176	33	78
Tax %	0.00%	-3.41%	34.78%	27.19%	54.86%	-947.83%	1683.06%	-2.14%	11.77%	61.30%	39.25%
Net Profit	15	34	49	83	25	-21	-13	-462	156	13	47
EPS	0.00	0.00	0.00	0.00	0.00	-0.27	-0.08	-13.60	4.99	0.39	—
Dividend Payout %	0.00%	9.63%	6.61%	4.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 11%
5 Years:: -6%
3 Years:: 14%

COMPOUNDED PROFIT GROWTH

10 Years:: 3%
5 Years:: -22%
3 Years:: —

STOCK PRICE CAGR

10 Years:: -15%
5 Years:: -12%
3 Years:: 14%
1 Year:: -26%

RETURN ON EQUITY

10 Years:: 3%
5 Years:: -7%
3 Years:: -9%
Last Year:: 7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	32	32	33	33	33	33	33	33	33	33
Minority Interest	0	0	0	181	162	150	140	122	0	0
	218	255	316	393	433	426	424	-19	144	163
	379	365	495	638	597	609	602	577	508	536
Trade Payables	9	12	8	48	58	92	74	70	13	12
	67	72	82	95	152	83	98	159	378	756
Total Liabilities	705	736	932	1,387	1,436	1,393	1,369	941	1,076	1,500
	114	129	179	712	774	475	438	102	117	126
Capital Work in Progress	380	0	0	3	7	0	1	0	0	0
	10	398	372	291	306	0	0	0	0	6
	11	14	9	13	18	11	5	26	27	26
	0	0	0	0	0	0	0	0	38	41
Cash & Bank	12	17	24	27	16	13	32	35	23	30
	179	177	348	340	315	894	894	777	871	1,272
Total Assets	705	736	932	1,387	1,436	1,393	1,369	941	1,076	1,500

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	50	195	275	50	149	19	73	53	60	83
Cash from Investing	-42	-9	-227	-49	15	14	-6	-12	-5	-13
Cash from Financing	-5	-173	-15	27	-150	-29	-37	-30	-61	-63
	-0	6	7	-1	-13	-2	20	0	-6	7

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	15.05	15.02	15.01	15.01	15.01	15.01	15.01	15.01	14.98
	5.99	5.98	6.38	6.41	6.45	6.57	6.39	6.38	6.51
	0.01	0.01	0.01	0.00	0.00	0.00	0.17	0.22	0.30
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	78.94	79.00	78.59	78.58	78.54	78.42	78.43	78.39	78.21

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-04

Copy of Newspaper Publication

2026-09-04 - Zee Learn Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-02

Shareholders meeting

2026-09-02 - Zee Learn Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 25, 2026

2026-08-31

Shareholders meeting

2026-08-31 - Zee Learn Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.

2026-08-18

Updates

2026-08-18 - Zee Learn Limited has informed the Exchange regarding 'Intimation for book closure for the 16th Annual General Meeting pursuant to Regulation 42 of SEBI (Listing Obligation and Disclosure Requirements Regulations) 2015.'.

2026-08-18

Record Date

2026-08-18 - Zee Learn Limited has informed the Exchange that Record date for the purpose of Meeting is 18-Sep-2026.

2026-08-01

Copy of Newspaper Publication

2026-08-01 - Zee Learn Limited has informed the Exchange about Copy of Newspaper Publication

2026-07-31

Copy of Newspaper Publication

2026-07-31 - Zee Learn Limited has informed the Exchange about Copy of Newspaper Publication

2026-07-30

Shareholders meeting

2026-07-30 - Zee Learn Limited has informed the Exchange regarding Notice of Postal Ballot

2026-07-29

Updates

2026-07-29 - Zee Learn Limited has informed the Exchange regarding 'Outcome of Board Meeting held on July 29, 2026'.

News

Recent coverage and analyst commentary for ZEELEARN

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