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DSJ Keep Learning Limited (KEEPLEARN) Fair Value & Analysis

Consumer Defensive · IN · Market cap ₹290M

DK DSJ Keep Learning Limited KEEPLEARN · BSE
Price₹1.86
Fair Value₹0.5200
Upside-72.0%
Quality22/100
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Strengths

Low debt · generates free cash flow

Risks

!Trades 72% ABOVE our fair value of ₹0.5200
!Mixed Growth
!Loss-making · -16.0% net margin
!Narrow moat 20/100
Mixed Growth
Loss-making · -16.0% net margin
Low debt · generates free cash flow
Narrow moat 20/100
Evidence: Low Range ₹0.3400 – ₹0.7000 Share as image

Fair value as of: Aug 21, 2026

From 7 valuation models · updated today

Share price −1.6% over the past month.

Below-average quality, and screening another 72% overvalued on our models.

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What matters now

  • The price sits above even our optimistic bull case (₹0.7000). The favourable scenario is already priced in.
  • Weak quality (22/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • A fairly wide model range (₹0.3400 to ₹0.7000) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

₹8.77 ₹0.2277 Fair Value ₹0.5200 Aug 2015 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.

How to read this chart

60‑month range ₹0.2277 – ₹8.77 · fair‑value band ₹0.3400 – ₹0.7000 · the ₹1.86 price screens above the ₹0.5200 fair value. Dashed = 300-day average. As of Aug 21, 2026.

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Analysis

DSJ Keep Learning Limited (KEEPLEARN) currently trades at ₹1.86, while our model-based Fair Value estimate is ₹0.5200, implying the stock looks roughly 72.0% overvalued today. The Quality Score stands at 22/100 (below-average quality), in the Consumer Defensive sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Over the trailing twelve months, DSJ Keep Learning Limited generated revenue of ₹72.9M at a net margin of -16.0%. Revenue declined 19.2% year over year. It earns a return on equity of -14.5%. Net debt stands at ₹14.0M. Fundamentals as of Aug 21, 2026

Our scenario range runs from ₹0.3400 (bear case) to ₹0.7000 (bull case); at ₹1.86, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 42% below its 52-week high and 26% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at 7% fair-value upside, at -72%, KEEPLEARN screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹0.5200 ₹0.8400 ₹1.35 80
Rev-Margin DCF ₹0.5400 ₹0.9400 ₹1.79 74
NCAV (Graham) ₹0.2000 ₹0.2700 ₹0.4000 50
All 7 models by family
DCF Models
FCF DCF ₹0.5500 ₹0.7800 ₹1.44 38
5Y Revenue Exit ₹0.4900 ₹0.8200 ₹1.52 39
10Y Revenue Exit ₹0.5000 ₹1.02 ₹1.33 36
Multiples
EV/Revenue ₹0.4200 ₹0.6000 ₹0.7800 43
Asset-Based
NCAV (Graham) ₹0.2000 ₹0.2700 ₹0.4000 50
Growth DCF
Growth DCF ₹0.5200 ₹0.8400 ₹1.35 80
Rev-Margin DCF ₹0.5400 ₹0.9400 ₹1.79 74

Widest divergence: Growth DCF (₹0.8400) versus Asset-Based (₹0.2700). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹72.9M
Revenue growth (YoY) -19.2%
Net margin -16.0%
Return on equity -14.5%
Free cash flow ₹7.4M FY2026
Operating margin 8.6%
More key figures
EPS (TTM) ₹-0.0600
EPS growth (YoY) -50.0%
Net debt ₹14.0M FY2026

Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 22/100

Of which business quality 28 · Market factors (momentum, volatility) 19

Profitability 18
Margins and returns on capital today
Quality Growth 3
Are margins and returns improving?
Cashflow 46
Earnings quality: real cash, not paper profit
Fin. Strength 38
Balance sheet, leverage, solvency risk
Investment 7
Disciplined investing over empire-building
Low Volatility 24
Calm price path (market factor)
Momentum 21
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 40
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

DSJ Keep Learning Limited provides educational services in India. It offers various education services, such as campus enablement, online programs for continuing education, and quality assurance mentoring for institutes. The company also engages in licensing pedagogical innovations and platform as a service for campus management.

Full company description

DSJ Keep Learning Limited provides educational services in India. It offers various education services, such as campus enablement, online programs for continuing education, and quality assurance mentoring for institutes. The company also engages in licensing pedagogical innovations and platform as a service for campus management. It serves universities, institutions, and the learner community, as well as publications of research centers. The company was formerly known as DSJ Communications Limited and changed its name to DSJ Keep Learning Limited in June 2021. The company was incorporated in 1989 and is based in Mumbai, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

DSJ Keep Learning Limited reported revenue of ₹78.9M in FY2026 versus ₹48.2M in FY2022, a compound +13.1%/yr. Reported net income was −₹9.7M in FY2026.

Growth Quality 61/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹78.9M
Latest YoY
−20.9%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+11.1%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+114.0%
Avg. growth/yr (6Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+99.6%
Revenue +13.1%/yr
FY22 ₹48.2M
FY23 ₹57.5M
FY24 ₹63.2M
FY25 ₹99.8M
FY26 ₹78.9M
Net income
FY22 ₹12.7M
FY23 ₹623K
FY24 ₹3.2M
FY25 ₹3.3M
FY26 −₹9.7M

KEEPLEARN screens 72% overvalued. Compare with New Oriental Education & Technology Group →

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Cite: Fair Value Calculator (2026). "DSJ Keep Learning Limited Fair Value". https://www.fairvalue-calculator.com/stock/KEEPLEARN.BSE

Peer Group

Education & Training Services · 149 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 21 · Bottom 25%
Fair Value upside −72% · Bottom 25%
Return on assets -5% · Bottom 25%
Net margin (TTM) -16% · Bottom 25%
Operating margin (TTM) 9% · Below median
Revenue growth -19% · Bottom 25%
Debt / equity 0.02× · Lower than median

Valuation Multiples vs Education & Training Services median · lower = cheaper

P/B 0.05× · Cheaper than 75% of peers
P/S (TTM) 0.04× · Cheaper than 75% of peers
P/FCF 0.4× · Cheaper than median

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Education & Training Services stocks, each showing price versus our Fair Value estimate (as of Aug 21, 2026).

Stock Price Fair Value vs Fair Value
New Oriental Education & Technology Group EDUN 966.48 MXN 875.84 MXN -9%
TAL Education Group TAL $11.87 $15.60 +31%
Laureate Education, Inc LAUR $36.99 $41.45 +12%
Grand Canyon Education, Inc LOPE $142.06 $152.01 +7%
Physicswallah Limited PWL ₹123.90 ₹14.81 -88%
Covista Inc CVSA $128.22 $135.45 +6%
Stride, Inc LRN $78.59 $139.45 +77%
Universal Technical Institute, Inc UTI $25.64 $20.98 -18%
Offcn Education Technology Co 002607 ¥2.03 ¥0.3300 -84%
JF SmartInvest Holdings 9636 HK$28.70 HK$39.96 +39%

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Frequently asked questions

Is DSJ Keep Learning Limited (KEEPLEARN) overvalued or undervalued?
As of Aug 21, 2026, our model estimates a fair value of ₹0.5200 versus a price of ₹1.86, about −72% (overvalued).
What is the fair value of KEEPLEARN?
Our model-based fair value for DSJ Keep Learning Limited is ₹0.5200 (as of Aug 21, 2026), built from audited fundamentals. The current price: ₹1.86.
What is the quality score of KEEPLEARN?
DSJ Keep Learning Limited has a Quality Score of 22/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of DSJ Keep Learning Limited (KEEPLEARN)?
DSJ Keep Learning Limited reported trailing-twelve-month revenue of about ₹72.9M (latest available figure, as of Aug 21, 2026).
What is the net profit margin of KEEPLEARN?
The net profit margin of DSJ Keep Learning Limited is about -16.0%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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