Zee Learn Limited (ZEELEARN) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Zee Learn Limited ₹23.22, price ₹6.30, upside +268.6%, quality 48 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range ₹2.85 – ₹19.60 · fair‑value band ₹16.08 – ₹31.45 · the ₹6.30 price screens below the ₹23.22 fair value. Dashed = 300-day average. As of Sep 24, 2026.
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Zee Learn Limited, together with its subsidiaries, operates in the education industry in India. It operates through Educational; Construction and Leasing for Education; and Training Manpower and Related Activities segments.
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Zee Learn Limited, together with its subsidiaries, operates in the education industry 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 Mount Litera School International, a co-educational day school. It also operates Zee Institute of Creative Art, a classical and digital animation training academy that trains youth in classical 2D, modern 3D animation, visual effect, and gaming, as well as covers various stages of visualization, pre-production, production, and post-production activities; Zee Institute of Media Arts that offers media education in the field of film making, direction, acting, voicing and TV presentation, screenwriting, executive producer, ad filmmaking, cinematography, sound recording, editing, TV journalism, autodesk smoke and flame, and other related areas; ZNius, a curriculum designed to redefine K-12 education; and LIBERIUM, a human resource management, skilling, and training company. In addition, the company provides consultancy and advisory services in the field of human resources, such as manpower placement, recruitment, selection, business process, and others; and E-Learning online education and testing services. Further, it is involved in the construction and leasing of properties for commercial use. Zee Learn Limited was incorporated in 2010 and is based in Mumbai, India.
Stock analysis
Zee Learn Limited (ZEELEARN) currently trades at ₹6.30, while our model-based Fair Value estimate is ₹23.22, implying the stock looks roughly 72.9% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ₹40.78 per share, and 21 of the 24 models we run sit above the ₹6.30 price.
Bear case: the Economic Profit group reads lowest at ₹3.41, and 3 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: ₹16.08 (bear) to ₹31.45 (bull), the price of ₹6.30 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 48/100 (below-average quality), in the Consumer Defensive sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Zee Learn Limited reported revenue of ₹4.4B in FY2026 versus ₹2.5B in FY2022, a compound +15.4%/yr. Reported net income was ₹385M in FY2026.
Key figures
Market cap ₹2.9B (≈ $30.0M) · P/E ratio 5.4 · P/S ratio 0.47 · EPS (TTM) ₹1.17 · Net margin 8.8% · Return on equity 17.9% · Return on assets (EBIT) 4.9% · Operating margin 23.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 35% below its 52-week high and 48% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at 26% fair-value upside, at 269%, ZEELEARN screens cheaper than that median.
Fair Value models
Bear ₹16.08Fair Value ₹23.22Bull ₹31.45
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹0.5962 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.89/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+11.9%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+10.6%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+11.3%
Start year 2021 (pandemic). Over 10 years: +11.2% a year
Revenue growth 15 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+16.8%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−1.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−1.5%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−2.7% vs 9.5%, slowing
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−1% → 14%
Start year 2021 (pandemic)
Growth Forecast
Little optimism in the price
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
less than -40 %
Yearly growth needed for the next five years to justify today's price.
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Education & Training Services · 116 stocks
Beats the industry median on 10/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score48 · Below median
Fair Value upside+200.0% · Top 25%
Profitability
Return on equity (TTM)17.9% · Above median
Return on assets2.4% · Below median
Net margin (TTM)8.8% · Above median
Operating margin (TTM)23.4% · Top 25%
Growth and dividend
Revenue growth11.4% · Above median
Balance sheet
Debt / equity1.16× · Highest 25%
Valuation Multiplesvs Education & Training Services median · lower = cheaper
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Is Zee Learn Limited (ZEELEARN) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ₹23.22 versus a price of ₹6.30, about +269% upside (undervalued).
What is the fair value of ZEELEARN?
Our model-based fair value for Zee Learn Limited is ₹23.22 (as of Sep 24, 2026), built from audited fundamentals. The current price: ₹6.30.
What is the quality score of ZEELEARN?
Zee Learn Limited has a Quality Score of 48/100. 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 price target for Zee Learn Limited (ZEELEARN)?
Our model-based price target is the fair value of ₹23.22 (as of Sep 24, 2026) from 24 valuation models. Cautious scenario ₹16.08, optimistic scenario ₹31.45. It is a calculation from audited fundamentals, not an analyst target.
What is the Zee Learn Limited stock forecast for 2026?
Our models put fair value at ₹23.22, about +269% upside versus a price of ₹6.30 (undervalued). Cautious scenario ₹16.08, optimistic scenario ₹31.45. The calculation is refreshed regularly with new filings.
What is the revenue of Zee Learn Limited (ZEELEARN)?
Zee Learn Limited reported trailing-twelve-month revenue of about ₹4.4B (latest available figure, as of Sep 24, 2026).
What growth is priced into Zee Learn Limited (ZEELEARN)?
For today's price to be fair in a discounted-cash-flow model, Zee Learn Limited would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 12.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.3 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of ZEELEARN use?
Our models discount Zee Learn Limited at 12.0 %: a base by market capitalisation (nano), damped by beta 0.89, country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Zee Learn Limited that is less than minus 40 % per year a year over ten years, using the same discount rate (12.0 %) and the same formula as our fair value.
How much growth has Zee Learn Limited (ZEELEARN) delivered so far?
Over the past 5 years revenue at Zee Learn Limited grew +11.3 % a year. The price currently implies less than minus 40 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Zee Learn Limited (ZEELEARN) growing?
The median revenue growth in the sector is +3.8 % a year. That is the yardstick for the growth priced into Zee Learn Limited (less than minus 40 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Zee Learn Limited (ZEELEARN)?
The free-cash-flow yield on the price is 45.58 %: that much free cash flow Zee Learn Limited produces per unit of market value. When it exceeds the discount rate of our models (12.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Zee Learn Limited (ZEELEARN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Zee Learn Limited it is ₹23.22 per share (as of Sep 24, 2026), against a price of ₹6.30. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Zee Learn Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, ZEELEARN trades below its calculated fair value: price ₹6.30, fair value ₹23.22, a gap of about +269% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ZEELEARN?
No. The price is what the market pays today (₹6.30); the fair value is what the company's own numbers justify (₹23.22). For Zee Learn Limited the two are ₹16.92 per share apart. That gap is exactly why we show both numbers side by side.
How much is Zee Learn Limited worth?
The market values Zee Learn Limited at about ₹2.9B (market capitalisation, as of Sep 24, 2026). Per share that is ₹6.30; our models calculate a fair value of ₹23.22 per share.
What do the bullish and bearish scenarios say about ZEELEARN?
Our models span a range for Zee Learn Limited: cautious scenario ₹16.08, base ₹23.22, optimistic ₹31.45 per share (as of Sep 24, 2026, price ₹6.30). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ZEELEARN?
Zee Learn Limited trades at a price-to-earnings ratio of 5.4 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹23.22 is built from several models across several years. Other multiples: P/B 1.2, P/S 0.7, EV/EBITDA 4.8.
How solid is the balance sheet of Zee Learn Limited (ZEELEARN)?
Balance-sheet figures for Zee Learn Limited (as of Sep 24, 2026): return on equity 17.9%, debt of 1.16 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is ZEELEARN from its 52-week high?
Zee Learn Limited trades at ₹6.30, about 35% below its 52-week high of ₹9.72 and 48% above the low of ₹4.25 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹23.22 is for.
Which stocks are comparable to Zee Learn Limited?
From the same area (Consumer Defensive) we also value New Oriental Education & Technology Group, TAL Education Group, Laureate Education, Inc, Covista Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Zee Learn Limited stock attractive at the current price?
The data as of Sep 24, 2026: price ₹6.30, calculated fair value ₹23.22 (+269%), Quality Score 48/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ZEELEARN calculated?
We run Zee Learn Limited through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹23.22, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Zee Learn Limited currently trades 73 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Zee Learn Limited (ZEELEARN)?
The closing price on Oct 1, 2026 was ₹6.30. Our model-based fair value is ₹23.22, about +269% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Zee Learn Limited right now?
The price is below even our cautious bear case (₹16.08). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (48/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (₹16.08 to ₹31.45) leaves room in how you read the outcome.
Where does the earnings growth of Zee Learn Limited (ZEELEARN) come from?
Earnings per share at Zee Learn Limited grew +15.3 % a year from 2015 to 2026. Broken into its drivers: revenue per share +10.9 %, EBIT margin +7.7 %, tax rate −2.9 %, residual (interest, one-offs) −0.7 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Zee Learn Limited
How large is the market capitalisation of Zee Learn Limited (ZEELEARN)?
The market capitalisation of Zee Learn Limited is ₹2.9B (≈ $30.0M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Zee Learn Limited (ZEELEARN)?
The price-to-sales ratio of Zee Learn Limited is 0.47 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Zee Learn Limited (ZEELEARN)?
Earnings per share at Zee Learn Limited are ₹1.17 (price ÷ EPS = P/E 5.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Zee Learn Limited (ZEELEARN)?
The net margin of Zee Learn Limited is 8.8% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Zee Learn Limited (ZEELEARN)?
The return on equity (ROE) of Zee Learn Limited is 17.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Zee Learn Limited (ZEELEARN)?
On an EBIT basis the return on assets of Zee Learn Limited is 4.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Zee Learn Limited (ZEELEARN)?
The operating margin of Zee Learn Limited is 23.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Zee Learn Limited (ZEELEARN)?
Revenue at Zee Learn Limited is growing +11.4% versus a year earlier (3y avg +10.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Zee Learn Limited (ZEELEARN)?
Earnings per share at Zee Learn Limited are growing +170% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Zee Learn Limited (ZEELEARN) carry?
The net debt of Zee Learn Limited is ₹3.2B (fiscal year 2026, ≈ 3.4 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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