Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹32Cr
Rev Gr TTM
Revenue Growth TTM
13.58%
Peer Comparison
Compare up to 10 companies side by side across valuation, profitability, and growth.

KEEPLEARN
VS
| Quarter | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | -7.1 | 26.1 | 2.5 | -4.7 | 19.9 | 82.9 | 22.7 | 48.6 | 77.0 | 5.9 | 11.5 | -31.3 |
| 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 3 | 2 | 2 | 2 |
Operating Profit Operating ProfitCr |
| 9.0 | 7.1 | 24.5 | 14.1 | 6.4 | 9.4 | 8.5 | 7.6 | 3.9 | 15.9 | 8.1 | -26.9 |
Other Income Other IncomeCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Interest Expense Interest ExpenseCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Depreciation DepreciationCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
|
Growth YoY PAT Growth YoY% | -94.2 | 85.7 | 57.1 | -64.7 | 166.7 | 375.0 | -45.5 | 116.7 | -150.0 | 172.7 | -75.0 | -515.4 |
| 1.9 | -2.9 | 13.5 | 4.2 | 4.3 | 4.3 | 6.0 | 6.2 | -1.2 | 11.1 | 1.4 | -37.2 |
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | -0.2 | 0.0 | 0.0 | 0.0 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| | | | -37.5 | 89.1 | 20.0 | 40.8 | 2,643.7 | 19.2 | 9.9 | 57.9 | -2.8 |
| 0 | 0 | 0 | 0 | 0 | 1 | 4 | 4 | 5 | 6 | 9 | 9 |
Operating Profit Operating ProfitCr |
| | | -133.2 | -136.6 | -117.8 | -493.0 | -2,238.4 | 25.4 | 13.7 | 12.9 | 7.0 | 3.6 |
Other Income Other IncomeCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Interest Expense Interest ExpenseCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Depreciation DepreciationCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 | 0 | 0 | -4 | 1 | 0 | 1 | 0 | 0 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
|
| -112.2 | 41.2 | 28.2 | 30.1 | -80.4 | -72.3 | -1,085.5 | 131.2 | -95.1 | 416.1 | 2.3 | -176.0 |
| | | -180.0 | -201.3 | -192.0 | -275.7 | -2,321.5 | 26.4 | 1.1 | 5.1 | 3.3 | -2.6 |
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | -0.4 | 0.1 | 0.0 | 0.0 | 0.0 | -0.2 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 8 | 8 | 9 | 16 | 16 |
| -4 | -5 | -5 | -5 | -5 | -5 | -9 | -8 | -8 | -9 | -8 | -8 |
Current Liabilities Current LiabilitiesCr | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 2 | 1 | 2 | 4 | 4 |
Non Current Liabilities Non Current LiabilitiesCr | 1 | 1 | 1 | 2 | 2 | 1 | 2 | 3 | 3 | 3 | 0 | 0 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 3 | 3 | 7 | 7 |
Non Current Assets Non Current AssetsCr | 5 | 5 | 5 | 4 | 4 | 4 | 0 | 1 | 1 | 2 | 5 | 5 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | -1 |
Investing Cash Flow Investing Cash FlowCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1 | -1 | -4 |
Financing Cash Flow Financing Cash FlowCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 3 |
|
Free Cash Flow Free Cash FlowCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 98.8 | 99.8 | 85.4 | 200.4 | 122.5 | 109.0 | 9.6 | -5.9 | 1,004.3 | 363.7 | -222.0 |
CFO To EBITDA CFO To EBITDA% | 99.0 | 120.3 | 115.4 | 295.4 | 199.7 | 60.9 | 10.0 | -6.1 | 79.5 | 143.9 | -105.3 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 3 | 0 | 0 | 0 | 0 | 0 | 9 | 12 | 27 | 33 | 42 |
Price To Earnings Price To Earnings | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 9.4 | 303.0 | 93.8 | 135.5 |
Price To Sales Price To Sales | | | 0.0 | 0.0 | 0.0 | 0.0 | 49.2 | 2.6 | 4.6 | 5.2 | 4.2 |
Price To Book Price To Book | 0.8 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | -3.9 | -25.0 | 303.0 | 125.0 | 5.9 |
| -10.3 | -7.2 | -12.3 | -22.2 | -15.6 | -2.4 | -2.8 | 12.6 | 37.4 | 44.4 | 60.9 |
Profitability Ratios Profitability Ratios |
| | | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 |
| | | -133.2 | -136.6 | -117.8 | -493.0 | -2,238.4 | 25.4 | 13.7 | 12.9 | 7.0 |
| | | -180.0 | -201.3 | -192.0 | -275.7 | -2,321.5 | 26.4 | 1.1 | 5.1 | 3.3 |
| -9.1 | -4.4 | -2.7 | -1.2 | -2.9 | -9.6 | -11,113.9 | 46.5 | 19.5 | 21.6 | 6.7 |
| -12.4 | -7.9 | -6.1 | -4.5 | -8.7 | -17.7 | 190.9 | -282.9 | 130.9 | 134.5 | 4.6 |
| -7.8 | -4.6 | -3.3 | -2.5 | -4.5 | -9.4 | -1,397.8 | 26.6 | 1.4 | 5.7 | 2.9 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Overview**
DSJ Keep Learning Limited is a publicly listed Indian education technology company strategically repositioned since 2021 to focus on enabling scalable, efficient, and outcome-driven operations across the higher and continuing education sectors. Originally rooted in the publishing industry, the company underwent a transformative pivot under new leadership, aligning with the growth opportunities presented by India’s evolving educational landscape and the National Education Policy (NEP) 2020.
The company operates under two primary business verticals:
1. **Campus Enablement** – delivering full-stack operational support to higher education institutions.
2. **keeplearning.live** – a lifelong learning platform for working professionals offering career-aligned programs in collaboration with globally ranked universities.
With a learner-centric philosophy, DSJ Keep Learning combines advanced technology, process outsourcing, and academic delivery to become a strategic operating partner for educational institutions aiming to improve admissions, academic outcomes, and digital transformation.
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### **Core Business Verticals**
#### **1. Campus Enablement**
This vertical serves as a comprehensive partner for higher education institutions, supporting them in scaling enrollments and streamlining operations through three key service lines:
- **Student Recruitment Services**
End-to-end recruitment outsourcing powered by a proprietary tech engine. The model operates on a **success-linked fee structure**, minimizing risk for institutions.
Utilizes digital, organic, affiliate, and referral channels to deliver qualified leads.
- **Technology Platform (kOS – keeplearning Operating System)**
A flagship SaaS product that has transitioned from a "SaaS + services" model to a **product-only** platform, enabling institutions to independently manage:
- CRM and admissions
- Timetables and attendance
- Academic evaluations and fee management
- Regulatory reporting, HR, and finance
- Deployed in institutions including **JAGSoM, Vijaybhoomi University, IFIM College**, and **IFIM Law School**.
- Serves over **2,300 students**, **200+ faculty/administrators**.
- Generating revenue since FY 2022–23.
- **Program Delivery & Management Services**
Supports institutions in transitioning offline degree programs to high-quality online formats using trained personnel, standardized processes, and proprietary technology.
DSJ controls the **entire delivery chain**—academics, tech, and operations—for several online programs.
#### **2. keeplearning.live (Continuing Education Platform)**
A subscription-based platform focused on **industry-readiness and measurable learning outcomes** for working professionals.
- **Flagship Offering**: *Career Tracks* – long-form, career-aligned programs co-developed with academic and industry partners.
- Partnerships with institutions such as:
- Jagdish Sheth School of Management
- INSOFE
- True School of Music
- Simplilearn
- Skilledge
- Lithan Systems (Singapore)
- Enrolled over **100+ learners** in its early phase (as of 2022), with plans to scale.
- In 2025, the company plans to introduce **subscription-based micro-credentials**, expanding access to short-form, skill-specific learning.
---
### **Technology & Innovation**
DSJ Keep Learning's competitive edge lies in its **full-stack technology stack**, designed to reduce cost, improve efficiency, and deliver accountability.
- **kOS (keeplearningOS)**:
- A modular SaaS platform managing all academic and administrative workflows.
- Used internally to run *keeplearning.live*, demonstrating its operational robustness.
- Agile development methodology ensures continuous improvement.
- **Proprietary Recruitment Tech Stack**:
Features:
- **Agentic AI** for intelligent lead nurturing and engagement
- Automated sales process management
- Real-time **funnel analytics and attribution tracking** to lower customer acquisition costs (CAC)
- Integrated dashboards for performance monitoring
- **Dedicated Learning Studio in Bangalore**:
Invested in to enhance content quality, faculty engagement, and production standards for online programs.
---
### **Leadership & Background**
- **Mr. Sanjay Padode** – Chairman & Managing Director
Serial entrepreneur; founded DART (1993), launched India Online (one of India’s first national internet services) and DART Mail (India’s first secure corporate email).
- **Mr. Pranav Padode** – Whole-time Director & CEO
- Stanford University alum (B.S. Electrical Engineering, 2019)
- Former contributor to PayPal’s fraud detection system
- Alumnus of **Entrepreneur First**, UK-based startup incubator
Leadership brings deep expertise in tech, education, and early-stage business building.
---
### **Key Milestones**
| Date | Key Event |
|-------------|---------|
| Jun 2021 | Rebranded from DSJ Communications Ltd to **DSJ Keep Learning Ltd**; strategic shift to education |
| Aug 2021 | Launched *keeplearning* platform; formed partnership with Lithan Systems |
| Sep 2022 | Launched **Career Tracks**; kOS deployed in 4 institutions; over 1,500 students admitted via process outsourcing |
| Aug 2023 | Leadership profile published; strong emphasis on tech differentiation |
| Sep 2024 | kOS generates stable revenue; Agile dev processes confirmed; 3 service verticals formalized |
| Sep 2025 | kOS becomes **product-only SaaS**; full-stack recruitment scaled; strategic plan for SaaS expansion and margin improvement confirmed |
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### **Competitive Positioning**
DSJ Keep Learning differentiates itself through:
- **Integrated full-stack solutions** – combining recruitment, tech, and program delivery
- **Outcome-focused model** – emphasis on measurable learning and employment outcomes
- **Proprietary Agentic AI and analytics** in recruitment
- **Scalable SaaS platform** (kOS) enabling institutional autonomy
- **Learner-centric design** across both campus and continuing education offerings
Despite competition from ed-tech providers, SaaS startups, and new-age universities, the company believes its **vertical integration** and **operational accountability** create a sustainable moat.
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