CL Educate Limited — Investor Meet, 21-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

CL Educate’s FY25 revenues rose 11% YoY to Rs.368 Cr (including 40 days of DEX consolidation); proforma combined revenue stands at Rs.544 Cr with EBITDA of Rs.63.4 Cr. EdTech declined 7% to Rs.189.5 Cr due to strategic test-prep exits, while MarTech grew 22% to Rs.150 Cr, boosted by 35% international growth but facing margin pressure. DEX contributed Rs.30 Cr in Q4, running 237 centers with Rs.205 Cr revenue and 16% EBITDA margin; core on-demand exams grew 16%. New client wins and expansion into university exams underpin growth. Management targets zero debt in 3 years via stake sales, IPO, and internal accruals. Cautious on EdTech near-term recovery; confident on DEX’s long-term potential and MarTech growth.