J.K. Shah Commerce Education reconstitutes board and appoints new CFO and company secretary
As filed · Veranda Learning Solutions Limited has informed the Exchange regarding ' Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)
What happened
FactJ.K. Shah Commerce Education Limited (JSCEL), the resulting company under Veranda Learning Solutions’ composite scheme, approved a board reconstitution on October 05, 2026. Jitendra Kantilal Shah will become Chairman & Managing Director from October 06, 2026, while JSCEL also appointed two whole-time directors, four independent directors, a CFO and a Company Secretary & Compliance Officer; two non-executive directors will resign effective close of business on October 06, 2026.
Why it matters
CapitSignal interpretationA merger fixes a share-exchange ratio, which permanently sets how much of the combined company existing holders own.
What management said before
Prior statements by this company that CapitSignal has recorded changing.
Guidance
WithdrawnWe expect the commerce business to contribute annual revenue of approximately INR450 crores with EBITDA of around INR215 crores and a PAT of around INR110 crores.
While the non-commerce business are expected to contribute revenue of approximately INR220 crores with EBITDA of INR46 crores and PAT of INR34 crores based on our current business plan and historical quarterly trends.
Change
FactImplication
CapitSignal interpretationGuidance
RevisedFor FY27, we are guiding a revenue of approximately INR 670 crores with EBITDA of INR260 crores and PAT of INR144 crores compared to last year with INR482 crores of revenue and INR204 crores of EBITDA and INR130 crores of PAT, respectively, in FY26.
We expect the commerce business to contribute annual revenue of approximately INR450 crores with EBITDA of around INR215 crores and a PAT of around INR110 crores.
Change
FactImplication
CapitSignal interpretationGuidance
RevisedWhile the non-commerce business are expected to contribute revenue of approximately INR220 crores with EBITDA of INR46 crores and PAT of INR34 crores based on our current business plan and historical quarterly trends.
We expect the offline, online split to be about like our offline sales are at almost INR 330 crores and the offline at -- online is INR120 crores.
Change
FactImplication
CapitSignal interpretationWatch next
Fact- Swap ratio and its valuation basis
- Regulatory and NCLT approvals required
- Appointed date
- Student enrolments are also expected to more than double from the present 4.01 lakh in FY25 to over 8 lakhs du (management committed by FY30)
- It is projected to grow revenue from ₹281 crore (pro forma) achieved in FY25 to over ₹1,000 crore by FY30. (management committed by FY30)
Evidence
- Veranda Learning Solutions Limited has informed the Exchange regarding ' Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015'.(opens the original filing in a new tab)
- Earlier statement · Q1 FY27
- Latest statement · Q1 FY27
- Earlier statement · Q1 FY27
- Latest statement · Q1 FY27
- Earlier statement · Q1 FY27
- Latest statement · Q1 FY27
How CapitSignal classified this
- Reasoning:
- The governance and key-management structure of JSCEL is being established ahead of, or in connection with, the composite scheme involving Veranda Learning Solutions. The filing does not disclose any financial terms or change to the scheme’s economics.
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 75%