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Zee Learn Ltd

ZEELEARN
NSE
5.23
0.76%
Last Updated:
30 Apr '26, 4:00 PM
Company Overview
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Zee Learn Ltd

ZEELEARN
NSE
5.23
0.76%
30 Apr '26, 4:00 PM
Company Overview
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6M
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Quick Ratios

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Mkt Cap
Market Capitalization
171Cr
Close
Close Price
5.23
Industry
Industry
Computer Education
PE
Price To Earnings
16.87
PS
Price To Sales
0.41
Revenue
Revenue
421Cr
Rev Gr TTM
Revenue Growth TTM
27.67%
PAT Gr TTM
PAT Growth TTM
-93.96%
Peer Comparison
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ZEELEARN
VS

Quarterly Results

Consolidated
Standalone
Numbers
Percentage
QuarterMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Revenue
RevenueCr
11110666681168058751591087480
Growth YoY
Revenue Growth YoY%
43.122.9-8.323.84.9-23.9-12.410.336.234.927.66.6
Expenses
ExpensesCr
1318663456557526694796271
Operating Profit
Operating ProfitCr
-20193225124796530129
OPM
OPM%
-18.318.25.232.944.229.611.211.440.627.416.411.0
Other Income
Other IncomeCr
-25711-5-5145467-12154
Interest Expense
Interest ExpenseCr
111291110118101013131
Depreciation
DepreciationCr
8776488910111110
PBT
PBTCr
-29611-1701828-4-3327-61
Tax
TaxCr
15121350115503
PAT
PATCr
-2987-18-21694-4-4172-6-3
Growth YoY
PAT Growth YoY%
-5,781.81,557.8-10,072.298.8156.9-44.578.0-93.8-90.0-47.8-52.429.5
NPM
NPM%
-268.16.2-27.6-2.9145.44.5-6.9-5.010.61.8-8.3-3.3
EPS
EPS
-8.70.3-0.50.05.20.1-0.1-0.10.50.1-0.2-0.1

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue
RevenueCr
128152180269517515257248324356372421
Growth
Revenue Growth%
5.318.619.149.092.4-0.5-50.1-3.630.89.94.413.2
Expenses
ExpensesCr
97108121167360346214200299260269306
Operating Profit
Operating ProfitCr
31435910215816843472596103115
OPM
OPM%
23.928.632.838.030.532.716.819.17.827.127.827.4
Other Income
Other IncomeCr
424432105634-4021465-3
Interest Expense
Interest ExpenseCr
152021194759514444423937
Depreciation
DepreciationCr
91010112864503732243643
PBT
PBTCr
1015327611556-21-4521763333
Tax
TaxCr
00-1263131191410212023
PAT
PATCr
101534498325-21-13-4621561310
Growth
PAT Growth%
610.552.5122.247.069.2-69.9-184.237.8-3,407.9133.7-91.8-21.6
NPM
NPM%
7.79.918.618.316.14.9-8.2-5.3-142.443.73.42.4
EPS
EPS
0.30.51.01.52.31.3-0.3-0.1-13.65.00.40.3

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
Equity CapitalCr
323232333333333333333333
Reserves
ReservesCr
202218260321399438432430-13150163159
Current Liabilities
Current LiabilitiesCr
151100106101296348378410430506877879
Non Current Liabilities
Non Current LiabilitiesCr
298355347483571542480435453395436453
Total Liabilities
Total LiabilitiesCr
6837057469371,4791,5231,4721,4481,0241,0841,5091,524
Current Assets
Current AssetsCr
67829680213159202197160379799825
Non Current Assets
Non Current AssetsCr
6166236508571,2661,3631,2701,251864705711699
Total Assets
Total AssetsCr
6837057469371,4791,5231,4721,4481,0241,0841,5091,524

Cash Flow

Consolidated
Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating Cash Flow
Operating Cash FlowCr
3347189249211221263426083
Investing Cash Flow
Investing Cash FlowCr
-83-42-9-227-491514-6-12-5-13
Financing Cash Flow
Financing Cash FlowCr
43-5-173-1527-150-29-37-30-61-63
Net Cash Flow
Net Cash FlowCr
-7067-1-13-2200-67
Free Cash Flow
Free Cash FlowCr
-425173235-441131262385872
CFO To PAT
CFO To PAT%
332.3314.6563.0504.524.8484.7-58.8-475.0-9.138.8651.5
CFO To EBITDA
CFO To EBITDA%
107.4109.7319.1243.513.172.328.8131.8166.262.780.2

Ratios

Consolidated
Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
1,1589811,5551,144905398338406107199180
Price To Earnings
Price To Earnings
116.865.146.423.311.99.10.00.00.01.214.1
Price To Sales
Price To Sales
9.16.58.64.31.80.81.31.60.30.60.5
Price To Book
Price To Book
5.03.95.33.22.10.80.70.95.51.10.9
EV To EBITDA
EV To EBITDA
48.131.030.113.38.04.717.917.121.15.65.3
Profitability Ratios
Profitability Ratios
GPM
GPM%
75.576.382.285.192.494.694.291.682.582.282.9
OPM
OPM%
23.928.632.838.030.532.716.819.17.827.127.8
NPM
NPM%
7.79.918.618.316.14.9-8.2-5.3-142.443.73.4
ROCE
ROCE%
4.55.610.015.920.013.15.55.0-84.740.212.0
ROE
ROE%
4.26.011.513.919.35.3-4.6-2.8-2,399.385.26.5
ROA
ROA%
1.42.14.55.35.61.6-1.4-0.9-45.114.40.8
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
### **Overview** Zee Learn Limited (ZLL) is a diversified, pan-India education group delivering high-quality, future-ready learning through a network of recognized brands across **preschool, K–12, vocational training, and workforce skilling**. With over two decades of experience, the company combines **innovative pedagogy, technology integration, and a scalable franchise model** to impact millions of learners across India and Nepal. Backed by the Zee Group’s legacy in media and education, Zee Learn continues to transform the Indian education landscape through research-led curricula, digital innovation, and strategic expansion. --- ### **Key Business Segments & Brands** #### **1. Early Childhood Education: Kidzee** - **Market Position**: India’s **largest preschool network** and a leader in the pre-primary segment. - **Scale**: Over **2,200 centers** across **600+ cities** in India and Nepal; has served **over 1.8 million children** (FY 2024–25). - **Franchise Model**: Operates primarily on a franchise basis, providing partners with curriculum, training, branding, and operational support. - **Recent Developments (2024–2025)**: - Launched **Kidzee Elementary Schools**, enabling franchisees to extend offerings from pre-KG to **Grade 1–5**, expanding customer lifecycle and revenue potential. - Expanded into **Tier 3 and Tier 4 cities**, capturing underserved markets. - Revamped branding and curriculum (Pentémind) emphasizing **21st-century readiness**, inclusivity, and holistic development. #### **2. K–12 Education: Mount Litera Zee Schools (MLZS)** - **Market Position**: One of **India’s fastest-growing K–12 school chains**. - **Scale**: Over **110 schools** across **99+ cities**. - **Franchise Growth**: Signed **27 new schools in FY 2024–25**, nearly doubling the historical annual average. - **Innovation**: - Launched **Litera Nova**, a neuroscience-based, personalized curriculum supported by: - **AI-enabled app** with **augmented reality (AR)** and **gamified learning**. - **Unique Learner Profiles (ULPs)** for adaptive, future-ready education. - Introduced **STEM labs, Model UN programs, sports coaching (cricket), and School of Music** to enhance holistic development. - Upgraded campus infrastructure and visual branding to reflect innovation and learner-centricity. #### **3. Vocational & Skill Development** - **ZICA (Zee Institute of Creative Art)**: - India’s first full-fledged **classical and digital animation academy**. - Offers training in **2D/3D animation, VFX**, operating in **15+ cities**. - **ZIMA (Zee Institute of Media Arts)**: - Industry-grade **media and film school** with access to **WION’s international news studios**, broadcast networks. - Curriculum co-created with **active media professionals** from Zee Network. - Focus on **AI, mobile journalism, virtual reality, gaming, social media**, and **reality TV**. - Achieved **breakeven in FY 2024–25**, driven by **48 new franchise centers**. - **ZIDA (Zee Institute of Design Art)**: - Offers vocational programs in **fashion and interior design**, preparing students for careers and entrance exams. #### **4. Comprehensive Academic Solutions: ZNIUS** - **Launch**: January & September 2025 (phased rollout). - **Purpose**: A **360° school management platform** aligned with **NEP 2020** and **NCF-SE 2023**. - **Target Market**: Aims to serve **3,000 schools** and impact **1.5 million learners by 2030**; addresses a **₹10,000 crore opportunity**. - **Features**: - Unified **LMS & ERP platform** for administration, academics, and student tracking. - **AR-enabled digital content**, gamified learning, STEM emphasis. - **Co-scholastic programs** in financial literacy, soft skills, and physical education. - Teacher training, infrastructure support, and financial services. #### **5. Workforce & HR Solutions: Liberium** - A dedicated **HR and skilling arm** providing: - **Staffing (temporary/permanent), lateral hiring, leadership search**. - **HR BPO, training, due diligence, compliance support**. - Uses **AI tools** and human expertise for **customized workforce solutions**. - Supports corporate clients across geographies in building **skilled, motivated teams**. --- ### **Educational Philosophy & Innovation** - **Curriculum Development**: Driven by a team of **30+ specialists** in pedagogy, curriculum design, and research. - **Core Pedagogies**: - **Pentémind (Kidzee)**: Focuses on **Focused, Analytical, Empathetic, Conscientious, and Inventive Minds**. - **Litera Nova (MLZS)**: Personalized, brain-based learning via **AI diagnostics** and **adaptive technology**. - **Technology Integration**: - Blended "**phygital**" model combining **physical classrooms** with **digital platforms**. - Advanced use of **AI, AR, gamification, digital content**, and mobile apps. - Platforms: **Kidzee App, Robomate, R+ Notebook**, **Darwin Box (HR)**, and upgraded CRM. - **NEP 2020 Alignment**: Full integration across brands with new school formats (K2, K5), multilingual support, early STEM, and vocational exposure. --- ### **Strategic Initiatives (2024–2025)** 1. **Digital & AI Transformation**: - Led a **$1 million seed investment in Vidysea**, an **AI-powered study abroad guidance platform**. - Mandated **AI training for all employees** (5 modules) by **September 30, 2025**. - Deploying AI for **process automation, communication, and operational agility**. 2. **Expansion & Financial Recovery**: - Resolved past **cash flow and banking challenges**, building a stronger financial foundation. - Revenue: **₹273.84 crores**; EBITDA: **₹90.08 crores (33% margin)** – reflecting **operational efficiency** and **strong demand**. - Expansion into **Nepal** and plans for **international partnerships**. 3. **Talent Development & Partnerships**: - Trained **~8,000 teachers** across MLZS schools on Litera Nova implementation. - Launched structured **mentorship, career guidance, and teacher onboarding** programs. - Forged partnerships with: - **Trinity School of Music, UK** - **Rohit Sharma Cricket Academy** - **Avishkaar (robotics, coding, IoT)** 4. **Women Empowerment & Franchise Support**: - Kidzee has **empowered over 1,000 women entrepreneurs** as franchisees. - Provides **structured onboarding, operational aid, and financial solutions** to franchise partners. --- ### **Strengths** - **Strong Brand Portfolio**: Kidzee, MLZS, ZICA, ZIMA, ZNIUS, Liberium. - **Pan-India Reach**: Presence across **32 states**, **700+ towns and cities**, 2,200+ centers. - **Asset-Light Franchise Model**: Ensures rapid scale, lower capital intensity, and market penetration. - **Technology & AI Leadership**: Aggressive adoption in content delivery, operations, and strategy. - **Diverse Revenue Streams**: From early education to skilling and HR services. - **Curriculum Innovation**: Continuous R&D, NEP alignment, global integration. --- ### **Challenges & Market Considerations** - **Dependence on Franchisees**: Quality control and attrition risks during economic downturns. - **Teacher Recruitment**: Ongoing challenge due to shortage of trained educators. - **Infrastructure Gaps**: Especially in semi-urban and rural areas. - **Supply Chain**: Vulnerabilities due to raw material shortages. - **Low Pre-School Penetration**: In Tier 4+ cities, despite high potential. - **Competition**: From other franchised chains and private school networks. --- ### **Financial Health & Outlook (FY 2024–25)** - **Revenue**: ₹273.84 crores - **EBITDA**: ₹90.08 crores (33% margin) - **Positive cash flow** and **renewed growth trajectory** post financial restructuring. - **Breakeven achieved in ZICA and ZIMA** – signaling turnaround in vocational segment.