KEEPLEARN - DSJ Keep Learn

📊 NSE: KEEPLEARN 🏢 Miscellaneous 📅 Last Updated: 12/13/2025 21:41

💰 Financial Performance

Revenue Growth by Segment

The Education activities segment, which constitutes 100% of the company's operations, generated revenue of INR 997.60 Lakhs in FY25, representing a growth of 118.8% compared to INR 455.95 Lakhs in the previous half-year period. For the half-year ended September 30, 2025, revenue reached INR 499.02 Lakhs, a 9.4% increase YoY.

Geographic Revenue Split

The company primarily operates within India, with registered offices in Mumbai and New Delhi. Specific percentage splits by region are not disclosed in available documents.

Profitability Margins

Net Profit Margin declined to 3.25% in FY25 from 5.09% in FY24, a 36.1% relative decrease. This compression was driven by a 123.8% surge in employee benefit expenses (INR 406.54 Lakhs) and a 123.1% increase in other operational expenditures (INR 521.41 Lakhs) as the company scaled its Campus Enablement teams.

EBITDA Margin

Core profitability (PBT margin) stood at 4.88% in FY25, down from 6.78% in the prior period. The decline is attributed to rapid scaling costs and a 98.2% increase in finance costs to INR 13.60 Lakhs.

Capital Expenditure

Property, Plant, and Equipment (PPE) were valued at INR 44.62 Lakhs at the end of FY25. Depreciation for the year increased by 92.2% to INR 30.27 Lakhs, reflecting investments in operational infrastructure.

Credit Rating & Borrowing

The Debt-Equity ratio improved significantly by 97.92% to 0.26 in FY25 from 12.56 in FY24. This was achieved through substantial debt repayment and equity capital infusion via a Rights Issue. Total borrowings as of September 30, 2025, stood at approximately INR 1.04 Cr.

⚙️ Operational Drivers

Raw Materials

As a service-oriented education firm, physical raw materials are minimal. Human capital is the primary driver, with Employee Benefit Expenses accounting for 40.7% of total revenue (INR 406.54 Lakhs).

Import Sources

Not applicable for service-based education operations.

Key Suppliers

Not disclosed; the company focuses on partnerships with academic institutions and hiring platforms for talent acquisition.

Capacity Expansion

The company employed 57 personnel as of March 31, 2025. Rapid scaling is planned for the Campus Enablement and kOS teams to support growth in the coming financial year.

Raw Material Costs

Not applicable for the service industry; however, total operational expenses grew 122.0% YoY to INR 972.11 Lakhs in FY25.

Manufacturing Efficiency

Not applicable; efficiency is measured by the 'ramp-up' time and alignment of new hires in the Campus Enablement and kOS teams.

Logistics & Distribution

Not applicable; services are delivered through digital platforms and on-campus enablement.

📈 Strategic Growth

Expected Growth Rate

Not disclosed

Growth Strategy

Growth will be achieved through the rapid scaling of Campus Enablement and kOS teams, supported by consolidated hiring operations to reduce turnaround time for business-critical roles. The company is deepening partnerships with academic institutions and rolling out quarterly engagement initiatives within keeplearning.live to strengthen leadership depth and reduce attrition.

Products & Services

Campus Enablement services, kOS (Keeplearning Operating System) technology platform, and keeplearning.live digital education services.

Brand Portfolio

KEEPLEARN, keeplearning.live, and kOS.

New Products/Services

Rapid scaling of the kOS platform and Campus Enablement programs; specific revenue contribution percentages for new launches are not disclosed.

Market Expansion

Expansion into new cities is underway to increase the footprint of Campus Enablement services.

Market Share & Ranking

Not disclosed; the company faces competition from local players in each city of expansion.

Strategic Alliances

Strategic partnerships with academic institutions for product delivery and hiring platforms for talent sourcing.

🌍 External Factors

Industry Trends

The education industry is shifting toward technology-integrated 'Campus Enablement' and proprietary learning operating systems. The company is positioning itself for this shift with a current revenue growth rate of 118.8% in its education segment.

Competitive Landscape

The landscape is fragmented with significant competition from local players in every city of expansion.

Competitive Moat

The moat is built on proprietary technology IP (kOS) and brand equity. This is sustainable as long as the company maintains its rapid scaling and leadership depth to outpace local competitors.

Macro Economic Sensitivity

Sensitive to changes in Government regulations, tax regimes, and general economic developments within India.

Consumer Behavior

Increasing demand for consumer-centric services and high-quality, technology-enabled education.

Geopolitical Risks

Economic developments in India and other countries where the company conducts business are cited as incidental risk factors.

⚖️ Regulatory & Governance

Industry Regulations

Compliance with the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Environmental Compliance

Not disclosed; minimal environmental impact as a service provider.

Taxation Policy Impact

Current tax provision for FY25 was INR 13.50 Lakhs. The company is subject to changes in Indian tax regimes.

Legal Contingencies

No specific pending court cases or case values in INR were disclosed in the provided documents.

⚠️ Risk Analysis

Key Uncertainties

Key risks include competition from local players, cyclical demand in principal markets, and the availability of skilled human resources for rapid scaling.