On 6 Nov 2026, Zee Learn was priced at ₹6.02, or 3.5× trailing earnings, against an industry P/E of 18.4×, and the shares are 40% below their 52-week high. It earns ROCE of 15% and ROE of 24%, and sales grew 11% a year over 3 years. Debt is 1.60× equity. It is a small-cap company with a market cap of ₹198 Cr, ranked 12th of 31 Education & Training Services companies by market cap; the shares fell 29% over the past year.
- ₹5.97
- ₹6.09
- ₹5.76
- ₹5.97
- 95.7K
Health check
- ReturnsIn line
−29.2% over a year, better than 4 of 7 peers.
- Price tagCheaper
P/E 3.5 vs industry 18.4.
- GrowthSlow
Sales +10.6% a year over 3 years.
- ProfitabilityAverage
ROCE 15.4% vs peer median 17.4%.
- Balance sheetStretched
Debt 1.60× equity, interest covered 2.8×, Piotroski 8 of 9.
- Red flags3 to check
Debt is 1.60× equity.
Small cap
Moves with the market
Key metrics
- Market cap
- ₹198 Cr
- Small cap
- P/E
- 3.5
- Industry 18.4
- Price to book
- 0.08
- Peers 4.11
- Dividend yield
- 0.00%
- ROE
- 24.2%
- Peers 16.6%
- ROCE
- 15.4%
- Peers 17.4%
- Debt to equity
- 1.60
- Debt ₹387 Cr
- EPS (TTM)
- ₹1.73
- Face value ₹1
- OPM (TTM)
- 27.5%
- Net margin 10.7%
- Sales growth
- +22.2%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 0.43
- EV/EBITDA 3.7
Strengths and risks
Strengths
- Return on equity of 24.2%.
- Quarterly sales up 22.2% on a year ago.
- P/E of 3.5 against an industry P/E of 18.4.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Debt is 1.60× equity.
- 40% below its 52-week high.
- Interest coverage of only 2.8×.
About Zee Learn
Zee Learn Limited, together with its subsidiaries, provides learning solutions and training in India. It operates through Educational; Construction and Leasing for Education; and Training Manpower and Related Activities segments. The company operates Kidzee, a chain of pre-schools in various cities; Mount Litera World Preschool, an international standard preschool; Mount Litera Zee Schools, a chain of schools in the private-unaided category schools; and…
- Headquarters
- Mumbai
- Employees
- 486
- Sector
- Consumer Defensive
- ISIN
- INE565L01011
- Website
- zeelearn.com
Price range
- Avg volume (3M)
- 2.7 L
- 1-year return
- minus 29.2%
- From 52-week high
- minus 40.4%
Peers · Education & Training Services
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PWLPhysicswallah | 130.00 | minus 1.66% | 37,813 | 448.3 | 8.24 | 1.6% | −0.9% | 10.7% | 73.6% | – | 0.00% | minus 16.3% |
| SEILShanti Educational Initiatives | 178.12 | plus 6.61% | 2,868 | 494.8 | 37.43 | 10.4% | 8.0% | 23.8% | 71.6% | 20.5% | 0.00% | minus 13.4% |
| CRIZACCrizac | 157.13 | minus 2.40% | 2,750 | 13.2 | 4.11 | 47.7% | 32.5% | 34.0% | 30.1% | 25.0% | 5.09% | minus 48.7% |
| NIITMTSNIIT Learning Systems | 169.14 | minus 0.15% | 2,337 | 9.6 | 1.43 | 17.4% | 16.6% | 17.9% | 12.7% | 8.8% | 1.92% | minus 47.1% |
| NIITLTDNIIT | 70.74 | minus 1.20% | 969 | 181.4 | 0.91 | 1.2% | 0.7% | −1.2% | 4.6% | 18.5% | 1.41% | minus 30.6% |
| JAROJaro Institute of Technology Management and Research | 339.85 | minus 0.92% | 757 | 12.9 | 2.05 | 18.9% | 19.9% | 23.0% | 30.9% | 65.6% | 1.75% | minus 44.8% |
| GLOBALGlobal Education | 143.68 | minus 0.55% | 731 | 28.1 | 5.41 | 26.8% | 20.9% | 40.8% | 14.8% | 5.5% | 0.70% | plus 103.5% |
| ZEELEARNZee Learn | 6.02 | plus 0.84% | 198 | 3.5 | 0.08 | 15.4% | 24.2% | 27.5% | 10.6% | – | 0.00% | minus 29.2% |
| Median of 7 peers | – | −0.92% | 2,337 | 28.1 | 4.11 | 17.4% | 16.6% | 23.0% | 30.1% | 19.5% | 1.41% | −30.6% |
Quarterly results
| ₹ Cr | Sep 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| 44.7 | 79.7 | 177 | 93.3 | 54.6 | |
| 32.7 | 70.9 | 124 | 60.7 | 37.9 | |
| 12 | 8.7 | 53.2 | 32.6 | 16.7 | |
| 26.9% | 11.0% | 30.1% | 34.9% | 30.7% | |
| 4.8 | 3.9 | 5 | 3.9 | 3.5 | |
| 12.7 | 1.4 | 11.5 | 8.1 | 9.1 | |
| 10.6 | 10.5 | 11.9 | 11.6 | 12 | |
| – | – | 31 | – | 1.3 | |
| −6.5 | 0.7 | 66 | 16.9 | 0.5 | |
| −3.9% | 464.0% | 31.2% | 37.1% | 431.4% | |
| −6.1 | −2.6 | 45.4 | 8.4 | −1.7 | |
| -0.19 | -0.08 | 1.38 | 0.26 | -0.11 |
Profit & loss
- Sales CAGR 3Y
- +10.6%
- ROE
- 24.2%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 324 | 356 | 372 | 439 | |
| – | +9.9% | +4.5% | +18.0% | |
| 277 | 254 | 261 | 332 | |
| 47.1 | 102 | 111 | 106 | |
| 14.5% | 28.7% | 29.8% | 24.3% | |
| 13.7 | 15.2 | 13.1 | 15.8 | |
| 42.6 | 40.9 | 38.5 | 38.1 | |
| 32.1 | 24.1 | 36.4 | 43.9 | |
| −438 | 124 | −16.1 | 27.5 | |
| −452 | 176 | 32.9 | 67.8 | |
| −2.1% | 11.8% | 61.3% | 43.2% | |
| −443 | 163 | 12.7 | 38.5 | |
| – | – | minus 92.2% | +202.8% | |
| -13.60 | 4.99 | 0.39 | 1.17 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 32.6 | 32.6 | 32.7 | 32.7 | |
| −13.4 | 150 | 163 | 202 | |
| 463 | 360 | 399 | 379 | |
| 542 | 542 | 915 | 979 | |
| 1,024 | 1,084 | 1,509 | 1,593 | |
| 68.9 | 27.6 | 45.1 | 34.2 | |
| 6.4 | 0.3 | 6 | 0.3 | |
| 0 | 0 | 5.5 | 5.9 | |
| 25.7 | 19.1 | 26 | 56.6 | |
| 923 | 1,037 | 1,427 | 1,496 | |
| 1,024 | 1,084 | 1,509 | 1,593 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 42 | 60.5 | 82.9 | 108 | |
| −12 | −5.3 | −12.6 | −5.8 | |
| −29.9 | −61 | −63.3 | −71.4 | |
| 0.1 | −5.8 | 7 | 30.6 | |
| −4.2 | −2.7 | −11.1 | −12.9 | |
| 37.8 | 57.7 | 71.8 | 95 |
Shareholding pattern
- Promoters14.98%
- Public85.02%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 14.98% | 85.02% | 0.00 | |
| 30 Jun 2026 | 14.98% | 85.02% | minus 0.03 | |
| 31 Mar 2026 | 15.01% | 84.99% | 0.00 | |
| 31 Dec 2025 | 15.01% | 84.99% | 0.00 | |
| 30 Sep 2025 | 15.01% | 84.99% | – |
Major shareholders
Filings & events
News
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