DSJ Keep Learning Limited (KEEPLEARN) AI Stock Analysis

• Market Cap: ₹373.71M
• Dividend Yield: N/A
• Average Volume (3M): 27.42K
• Price to Earnings (P/E): 87.0
• Beta (1Y): 0.60
• Revenue Growth: 31.89%
• EPS Growth: 8.66%
• Country: IN
• Employees: 55
• Sector: Services
• Sector Strength: N/A
• Industry: Education & Training Services
• EPS (TTM): <0.01
• Shares Outstanding: 155,712,080
• 10 Day Avg. Volume: 51,986
• 30 Day Avg. Volume: 27,419
• PEG Ratio: -5.08
• Price to Book (P/B): 4.26
• Price to Sales (P/S): 3.05
• P/FCF Ratio: -10.36
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 41 Neutral
• Price Target: ₹2.50 ▼(-13.79% Downside)

The score is primarily held back by weak financial fundamentals (high leverage and poor cash flow despite revenue growth). Technicals add a modest negative bias with the stock below key moving averages and slightly negative MACD. Valuation further pressures the score due to the very high P/E and no dividend support.

Positive Factors

Revenue Growth Trend

Sustained high revenue growth (~32%) indicates strong demand and successful course adoption. Over a 2–6 month horizon this underpins market expansion, funds reinvestment in content/platform, and provides a foundation to scale operations despite margin pressures.

Diversified Monetization Model

Multiple revenue streams (subscriptions, single-course sales, partnerships and corporate training) create recurring and one-off income balances. This diversification reduces reliance on a single channel and supports more stable, long-term cash generation as the platform scales.

Asset-light Operating Base

A lean headcount for a digital education firm suggests an asset-light, scalable model where incremental users cost little to serve. If content and platform investments are efficiently deployed, revenue can scale faster than operating costs, enabling margin recovery over time.

Negative Factors

High Financial Leverage

A debt-heavy balance sheet raises refinancing and interest burden risks, limiting financial flexibility to invest in growth or weather downturns. Over months this constrains strategic options and increases vulnerability if cash generation does not improve.

Weak Cash Generation

Negative operating and free cash flows indicate the core business is not yet self-funding its capex and working capital needs. Persisting cash deficits force external financing, erode resilience to shocks, and hinder sustainable investment in product and content.

Declining Profitability Margins

Erosion of EBIT/EBITDA and low net margins mean revenue growth translates poorly into earnings. Structural margin weakness limits free cash flow upside, reduces ability to deleverage, and may signal pricing pressure or rising unit costs that impair long-term profitability.

DSJ Keep Learning Limited Business Overview & Revenue Model

Company Description

DSJ Keep Learning Limited (KEEPLEARN) is an innovative educational technology company that focuses on providing high-quality online learning solutions for individuals and organizations. Operating in the e-learning sector, KEEPLEARN offers a diverse range of courses, certifications, and training programs across various disciplines, including business, technology, health, and personal development. The company leverages advanced technology to create engaging learning experiences, utilizing features such as interactive content, assessments, and personalized learning paths to enhance educational outcomes.

How the Company Makes Money

KEEPLEARN generates revenue through multiple streams, primarily by charging subscription fees for access to its online learning platform. Users can choose from various subscription models, including monthly and annual plans, which provide them with unlimited access to a wide array of courses. Additionally, the company earns revenue from individual course sales, allowing learners to purchase specific courses without committing to a subscription. Key partnerships with educational institutions and industry leaders also contribute to KEEPLEARN's earnings, as these collaborations often result in co-branded courses and specialized training programs that attract a larger audience. Furthermore, KEEPLEARN may offer corporate training solutions, generating income from organizations seeking to upskill their employees through tailored learning modules.

DSJ Keep Learning Limited Financial Statement Overview

Summary

DSJ Keep Learning Limited shows revenue growth but faces challenges with declining profitability margins, high debt-to-equity ratio, and negative cash flow, indicating financial risks.

Income Statement

DSJ Keep Learning Limited has shown significant revenue growth over the years, with a notable increase from 2024 to 2025. However, the company faces challenges with declining profitability margins as evident in the reduced EBIT and EBITDA margins. The net profit margin is relatively low, signaling potential issues in cost management or operational efficiency.

Balance Sheet

The company's balance sheet reveals a high debt-to-equity ratio, indicating potential financial leverage risks. Despite improvements in stockholders' equity over time, the equity ratio remains low, suggesting reliance on debt financing. The return on equity has shown variations, reflecting fluctuating profitability and equity base.

Cash Flow

Cash flow analysis highlights concerns with negative free cash flow growth, attributed to high capital expenditures. Operating cash flow has also struggled, with negative values in recent years, indicating challenges in cash generation from core operations. The company needs to address these cash flow issues to ensure sustainability.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	101.27M	99.76M	64.32M	57.47M	48.21M	1.76M
Gross Profit	60.47M	59.08M	31.78M	31.68M	43.40M	1.46M
EBITDA	11.50M	9.28M	7.12M	7.88M	13.55M	-37.56M
Net Income	5.16M	3.29M	3.21M	623.00K	12.74M	-40.79M
Balance Sheet
Total Assets	0.00	112.84M	55.09M	44.16M	47.88M	2.99M
Cash, Cash Equivalents and Short-Term Investments	22.08M	25.10M	161.00K	1.30M	2.75M	65.00K
Total Debt	0.00	22.22M	32.48M	29.89M	31.65M	21.71M
Total Liabilities	-71.47M	41.37M	52.70M	43.69M	51.49M	23.46M
Stockholders Equity	71.47M	71.47M	2.39M	476.00K	-3.60M	-20.47M
Cash Flow
Free Cash Flow	0.00	-29.40M	1.27M	68.00K	-4.62M	-3.95M
Operating Cash Flow	0.00	-7.26M	11.69M	6.26M	-747.00K	-3.93M
Investing Cash Flow	0.00	-44.03M	-10.42M	-6.19M	-3.60M	-15.87K
Financing Cash Flow	0.00	33.42M	-2.42M	-1.52M	7.04M	3.83M

DSJ Keep Learning Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.90
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:KEEPLEARN, the sentiment is Negative. The current price of 2.9 is above the 20-day moving average (MA) of 2.50, above the 50-day MA of 2.56, and below the 200-day MA of 3.06, indicating a bearish trend. The MACD of -0.02 indicates Negative momentum. The RSI at 45.74 is Neutral, neither overbought nor oversold. The STOCH value of 29.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:KEEPLEARN.

DSJ Keep Learning Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
ZEELEARN	55 Neutral	₹2.23B	24.76	―	―	28.91%	-94.80%
CLEDUCATE	52 Neutral	₹4.34B	-24.16	―	―	43.91%	-249.30%
KEEPLEARN	41 Neutral	₹373.71M	86.96	―	―	31.89%	8.66%
MTEDUCARE	41 Neutral	₹122.79M	-0.54	―	―	-3.63%	24.10%

DSJ Keep Learning Limited Corporate Events

DSJ Keep Learning Limited Reports Strong Q2 Financial Results

DSJ Keep Learning Limited announced its unaudited financial results for the second quarter ending September 30, 2025. The company reported total income from operations of Rs. 30,600.14 lakhs, showing an increase from the previous year. The net profit for the period after tax was Rs. 1,260.28 lakhs, indicating a positive financial performance. These results reflect the company’s stable position in the market and its potential for growth, which is significant for stakeholders and investors.

DSJ Keep Learning Updates RTA Email for Investor Communications

DSJ Keep Learning Limited has announced a change in the email address of its Registrar and Share Transfer Agent, MUFG Intime India Private Limited, for investor communications. This update is significant for stakeholders as it ensures continued and effective communication with the company’s RTA, although other contact details remain unchanged.

DSJ Keep Learning Updates Key Managerial Personnel Contact Details

DSJ Keep Learning Limited has updated the contact details of its Key Managerial Personnel (KMP) in compliance with regulatory requirements. This update ensures that the company maintains transparency and effective communication with stakeholders by providing accurate contact information for those responsible for determining materiality and making disclosures to stock exchanges.