Fusion Klassroom EdutechShare price, financial results, shareholding and management
- Market cap
- ₹152 cr
- Stock P/E
- 20.0peers 23.0
- Book value
- ₹19.8
- Price to book
- 8.23
- EV / operating profit
- -
- Market cap to sales
- 6.59
- ROCE · FY26
- 60.6%
- ROE · FY26
- 53.4%
- ROE, 3-year average
- 36.0%
- Operating margin · FY26
- 56.4%peers 18.1%
- Sales growth, 3 years
- 68.5%
- Profit growth, 3 years
- +162.1%
- Debt to equity
- 0.19peers 0.18
- Borrowings
- ₹3.4 cr
- Interest cover
- 22.1×
- Cash from business / op. profit
- 82%
- Debtor days
- 10
- Pledged
- 0.00%
- Promoter holding
- 39.52%
- Change in promoter holding
- -
- Shareholders
- 759
- 52-week high / low
- ₹224 / ₹154
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Fusion Klassroom Edutech share price chart
Close on 6 Nov 2026 · +0.71% on the day · Vol 3,200
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- +0.2%
- 3 months
- -2.2%
- Traded a day, 20 days
- ₹0.10 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +128% | +162% |
| 3 years, a year | +69% | - |
About Fusion Klassroom Edutech: business, products and customers
Fusion Klassroom Edutech runs coaching and skill courses for school students and job seekers through partner centres in Mumbai, a learning app and programmes for state governments and institutions. Its shares trade on BSE SME.
Fusion Klassroom Edutech was set up in Mumbai in 2016 by Alka Nikhil Javeri, Dhruv Nikhil Javeri and Dhumil Nikhil Javeri, after Alka Nikhil Javeri had run a coaching academy since 2008. It earns money four ways: coaching for classes 8 to 12, JEE, NEET and CA at thirty partner centres in Mumbai; a subscription learning app with more than a hundred recorded courses; books, courseware and tablets preloaded with its content; and academic and skilling programmes run for state governments, skill councils, schools and institutions, such as its work with the Government of Rajasthan and AI and machine learning labs in Maharashtra.
The way it works shapes the numbers. The company records the cost of making video courses and building its app as intangible assets and writes them off over several years, so reported profit is well above the cash it actually keeps; in each of the last three years it spent more on content, technology and equipment than its business brought in. Part of the tuition fees goes on to outside teaching vendors, devices are bought and held as stock before they are sold, and government and institutional programmes arrive in large, uneven contracts.
Read more about the business
Most revenue comes from a few places and payers: one customer gave about two fifths of FY26 revenue and Uttar Pradesh more than two fifths, with Maharashtra and Rajasthan most of the rest. The app is priced low, about a thousand rupees per subscriber on average, while an offline learner pays about forty thousand.
The offer document compares it with Physicswallah, MPS and Arihant Academy, listed companies in coaching, learning content and education services, and notes that more than ten thousand companies work in Indian online education.
From the offer document (RHP, July 2026), the only company document available; no annual report or results as a listed company were available to read.
Read the deeper study ↓In its favour
- Sales have grown very fast: 69% a year over three years.
- It earns a high return on the money it uses: ROCE 61% in FY26.
- It brings in more cash than it shows as profit: ₹10.7 cr against ₹7.6 cr in FY26.
- It has little debt for its size: debt to equity 0.19.
To watch
- Whether the top customer and the Uttar Pradesh business, together a large part of revenue, renew and grow (offer document, p.29 and p.38).
- The rising write-off of capitalised content and technology as the IPO money is spent on more of it (offer document, p.100 and p.212).
- Use of up to a quarter of the fresh issue for acquisitions not yet identified, under a monitoring agency appointed at BSE's direction (offer document, p.68 and p.100).
- The offer document's warning that media wrongly described a film actor as an investor; the company says Suniel Shetty is a mentor for some of its initiatives, not an investor (offer document, p.31).
- Customers take longer to pay than before: 10 days in FY26, against 0 in FY23.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Fusion Klassroom Edutech revenue and profit growth
Half-yearly results · Profit and lossSales have grown very fast. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
Fusion Klassroom Edutech profit and loss
Full years to March, FY23 to FY26 · ₹ crore, consolidated where reported
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Sales | 4.82 | 4.58 | 10.09 | 23.04 |
| Expenses | 5.29 | 3.56 | 6.02 | 10.05 |
| Operating profit | -0.47 | 1.02 | 4.07 | 12.99 |
| OPM | -9.8% | 22.3% | 40.3% | 56.4% |
| Other income | 0.07 | 0.04 | 0.02 | 0.06 |
| Interest | 0.11 | 0.10 | 0.21 | 0.45 |
| Depreciation | 0.18 | 0.53 | 0.78 | 3.09 |
| Profit before tax | -0.69 | 0.43 | 3.10 | 9.51 |
| Tax rate | 0.0% | 20.9% | 6.5% | 20.1% |
| Net profit | -0.68 | 0.34 | 2.90 | 7.60 |
| EPS ₹ | -503.70 | 251.85 | 2,148 | 10.37 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% |
Earnings per share before FY25 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
Fusion Klassroom Edutech profitability
Margins and returns on capitalLast year the company kept more from each rupee of sales than the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Operating margin | -9.8% | 22.3% | 40.3% | 56.4% |
| Tax rate | 0.0% | 20.9% | 6.5% | 20.1% |
| ROCE | · | 15.0% | 43.4% | 60.6% |
| ROE | · | 13.0% | 41.6% | 53.4% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% |
Fusion Klassroom Edutech debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. It borrowed much more last year. Its loans are smaller than its own money. Last year the business brought in more cash than it showed as profit. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
Fusion Klassroom Edutech balance sheet
At each 31 March · ₹ crore
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Equity capital | 0.01 | 0.01 | 0.01 | 7.33 |
| Reserves | 1.32 | 3.90 | 10.01 | 11.09 |
| Net worth | 1.33 | 3.91 | 10.02 | 18.42 |
| Borrowings | 1.51 | 0.33 | 1.01 | 3.43 |
| Other liabilities | 0.20 | 0.25 | 1.03 | 3.61 |
| Total liabilities | 3.04 | 4.49 | 12.06 | 25.46 |
| Fixed assets | 1.85 | 3.82 | 7.11 | 18.39 |
| Capital work in progress | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 |
| Other assets | 1.19 | 0.67 | 4.95 | 7.07 |
Fusion Klassroom Edutech cash flow
₹ crore
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Cash from operations | -0.39 | 0.94 | 3.55 | 10.71 |
| Cash from investing | -1 | -1.76 | -5.95 | -12.44 |
| Cash from financing | 0.74 | 0.96 | 3.33 | 2.48 |
| Net cash flow | -0.65 | 0.14 | 0.93 | 0.75 |
Working capital
Days
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Debtor days | 0 | 0 | 24 | 10 |
| Cash conversion cycle | 0 | 0 | 24 | 10 |
| Working capital days | -21 | -25 | 1 | -9 |
Fusion Klassroom Edutech peers and competitors
Listed SME companies in the same industryBy sales, Fusion Klassroom Edutech is number 17 of the 22 listed SME companies in other consumer services.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Mopshop Distribution | - | - | 44.1 | 5.2 | 18.1% | 1.02 |
| Drone Destination | 79 | 67.8 | 35.1 | 1.2 | 27.7% | 0.39 |
| Docmode Health Technologies | 7 | - | 25.5 | -0.1 | -1.3% | 0.45 |
| Flywings Simulator Training Centre | 268 | 23.0 | 24.5 | 11.6 | 64.2% | 0.12 |
| Thinking Hats Entertainment Solutions | 16 | 12.7 | 23.5 | 1.2 | 9.9% | 0.37 |
| Fusion Klassroom Edutech | 152 | 20.0 | 23 | 7.6 | 56.4% | 0.19 |
| Blue Pebble | 26 | 53.2 | 21.6 | 0.5 | 4.5% | 0.00 |
| Moxsh Overseas Educon | 102 | 44.4 | 12.9 | 2.3 | 37.7% | 0.24 |
| Humming Bird Education | 17 | 21.3 | 7.9 | 0.8 | 5.4% | 0.00 |
| Sodhani Academy of Fintech Enablers | 75 | 21.7 | 3.7 | 3.5 | 55.1% | 0.00 |
| Kuberan Global Edu Solutions | 7 | - | 0 | -0.4 | - | 0.05 |
| Median of the 10 others | 26 | 23 | 22.6 | 1.2 | 18.1% | 0.18 |
Fusion Klassroom Edutech shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own less than half the company. Foreign and Indian funds own a noticeable share.
Fusion Klassroom Edutech shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Aug 26 | |
|---|---|
| Promoters | 39.52% |
| Foreign investors (FIIs) | 6.02% |
| Indian institutions (DIIs) | 7.98% |
| Number of shareholders | 759 |
Fusion Klassroom Edutech study: the business from its own documents
Read from 1 of the company's own documentsFusion Klassroom Edutech key facts from the filings
Each figure with the document it comes from
- FY26 revenue
- ₹23.0 cr
- Up from ₹10.1 cr in FY25 and ₹4.6 cr in FY24; profit after tax was ₹7.6 cr against ₹2.9 cr.Offer document, p.212
- Biggest customer
- 40.11%
- Share of FY26 revenue from one customer; the top ten gave 78.72%.Offer document, p.38
- Revenue from Uttar Pradesh
- 42.60%
- In FY26; Maharashtra gave 26.76% and Rajasthan 24.00%.Offer document, p.29 and p.30
- App subscribers
- 2,66,986
- At March 2026, with 74,000 active users and 6,59,048 registrations.Offer document, p.30
- Average collection per learner
- ₹991 online
- Against ₹41,009 for an offline learner, so a few offline students weigh as much as many app users.Offer document, p.30
Show 5 more facts
- Content and technology bought
- ₹10.7 cr
- In FY26 as intangible assets, plus ₹3.7 cr of equipment, against ₹10.7 cr of cash from operations.Offer document, p.241
- Write-off of content and assets
- ₹3.1 cr
- Depreciation and amortisation in FY26, up from ₹0.8 cr in FY25 as more content was capitalised.Offer document, p.212
- Offline partner centres
- 30
- In Mumbai, teaching school, entrance exam and skill courses.Offer document, p.145 and p.149
- Shares sold by promoters in the IPO
- 3,52,048
- Of an offer for sale of 4,65,800 shares, alongside 19,89,400 new shares.Offer document, p.3
- Loss in FY23
- ₹0.68 cr
- The company turned profitable in FY24.Offer document, p.38 and p.146
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
The offer document says the company will spend the IPO money in FY27 and by 31 December 2027 on repaying loans, technology and AI development, new course content, computers for AI and machine learning labs at offline centres and marketing, and that up to a quarter of the fresh issue may go into acquisitions not yet identified. It gives no order book and no sales or profit guidance.
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Klassroom earns course fees from students and contract fees from governments and institutions, and its reported profit grew fast in the last two years.
Its weak spots are that one customer and one state bring in much of the money, and that building content uses more cash than the business makes.
WatchCan it set its own prices?No. Its pitch is low prices, and it competes with many online and offline coaching providers.
WatchHow strong is it against rivals?It is small in a crowded field with much larger listed players, though its government and skill council partnerships set it apart.
WatchWho are its customers?Students and parents, but also a few large institutional payers, one of whom brings in about two fifths of revenue.
WatchDoes it need a lot of money?Yes. It keeps spending on course content, its app and equipment, more than its business has brought in each year.
AverageCan it keep finding new work?Learner numbers and institutional partnerships have grown quickly, but there is no order book to show what comes next.
WatchDo good and bad years swing a lot?They have. The company made a loss three years ago and then more than doubled sales in a single year.
Who runs Fusion Klassroom Edutech?
Promoters, directors and officers; tap a name for the background
ANAlka Nikhil JaveriPromoter, Chairperson and Whole-Time Director · holds 28.46% pre-offer
B.A. in Economics with over 40 years in education; founded Aadeshwar Academy in 2008 and co-founded the company in 2016; guides academic strategy and partnerships. The company rents its registered office from Alka Nikhil Javeri and bought trademark rights from Alka Nikhil Javeri for ₹0.05 cr in FY26. Sold shares in the IPO offer for sale.
Offer document, p.3, p.29, p.188 and p.222DNDhruv Nikhil JaveriPromoter, Managing Director and Chief Financial Officer · holds 13.13% pre-offer
B.E. in electronics and telecommunication with over 11 years in IT and banking and more than 20 years as a mathematics tutor; oversees finance, technology, content and offline operations. The offer document states Alka Nikhil Javeri is the mother of Dhruv Nikhil Javeri and Dhumil Nikhil Javeri.
Offer document, p.188 and p.190DNDhumil Nikhil JaveriPromoter, Joint Managing Director and Chief Executive Officer · holds 13.13% pre-offer
B.E. in electronics and telecommunication with more than 18 years in education, having taught over 10,000 students; leads operations, the centre network, government partnerships and sales.
Offer document, p.188JKJinal Karen VoraCompany Secretary and Compliance Officer
Company secretary with over 10 years in secretarial practice and listed company compliance, earlier company secretary of a listed entity; appointed 20 November 2025.
Offer document, p.199 and p.200SASonal AgarwalIndependent Director
Chartered accountant, CFO of ICCS and earlier CFO at Intello Labs, Oyo, PepsiCo and other firms; director since 12 December 2025 and also a selling shareholder in the IPO offer for sale.
Offer document, p.3, p.187 and p.189SRSaurabh Rameshchandra SinghIndependent Director
Fellow chartered accountant with over 15 years in internal audit, co-operative society audits and RERA compliance; director since 12 December 2025.
Offer document, p.187 and p.189BABhumika Atul DedhiaIndependent Director
MBA in finance with over 18 years in real estate advice and the share market; director since 12 December 2025.
Offer document, p.187 and p.189Fusion Klassroom Edutech latest news and announcements
Announcements · Documents · Corporate actionsFusion Klassroom Edutech announcements
5 on record, latest first; each opens the filing on the exchange
- Company UpdateDear Sir / Madam, Pursuant to Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 attached herewith is the copy of the certificatePDF ↗
- Insider Trading / SASTThe Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Nikhil Javeri & PAPDF ↗
- Insider Trading / SASTThe Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Alka Javeri & PACsPDF ↗
- Insider Trading / SASTDear Sir / Madam, Pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015 and the Company''s Code of Conduct, the Trading Window for dealing in tPDF ↗
- Company UpdateDear Sir / Madam, Pursuant to Regulation 30 read with Part A of Schedule III of SEBI (LODR) Regulations, 2015, we wish to inform you that Fusion Klassroom EdPDF ↗
Fusion Klassroom Edutech annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
Fusion Klassroom Edutech share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Fusion Klassroom Edutech's data · 8
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- iThe shares traded on only 47 days in the past year, so the price, its range and the returns here rest on few trades.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (93,16,873 shares).
- !The FY26 results imply 73,30,000 shares at face value ₹10, which disagrees with the shareholding pattern; the pattern is used.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- !Earnings per share changes basis between FY25 (₹2,148.15) and FY26 (₹10.37) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY23 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Fusion Klassroom Edutech
What does Fusion Klassroom Edutech do?
Fusion Klassroom Edutech runs coaching and skill courses for school students and job seekers through partner centres in Mumbai, a learning app and programmes for state governments and institutions. Its shares trade on BSE SME.
What is the share price of Fusion Klassroom Edutech?
₹163 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Fusion Klassroom Edutech?
₹152 cr at the close on 6 Nov 2026, on 93,16,873 shares.
What is the P/E of Fusion Klassroom Edutech?
20.0 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Fusion Klassroom Edutech's revenue and profit?
Revenue ₹23 cr and profit after tax ₹8 cr in FY26.
Who are the promoters of Fusion Klassroom Edutech?
Alka Nikhil Javeri, Dhruv Nikhil Javeri, Dhumil Nikhil Javeri; promoters held 39.52% at 31 Aug 2026.
More SME companies like Fusion Klassroom Edutech
Other listed SME companies in other consumer services, the closest in size first, each read from its own documents.
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- Moxsh Overseas EduconMOXSH · NSE Emerge · Other Consumer Services · listed 2022Market cap ₹100 cr
- Sodhani Academy of Fintech EnablersSAFE · BSE SME · Other Consumer ServicesMarket cap ₹97 cr
- NIS ManagementNISMGMT · BSE SME · Other Consumer ServicesMarket cap ₹96 cr
- Arihant AcademyARIHANTACA · NSE Emerge · Other Consumer Services · listed 2022Market cap ₹242 cr
Built from 1 offer document, 5 exchange announcements, 1 shareholding patterns and 4 years of reported results. Every figure carries its source; where the documents are silent, the page says so.