CL Educate Ltd(CLEDUCATE)

NSE: CLEDUCATEBSE: 540403

₹ 48.25+1.94%refreshed 26 Oct, 01:33 pm ISTMarket cap: ₹ 262 crWebsite: www.cleducate.comUpdated: 24 Oct 2026

About

CL Educate, founded in 1996 as Career Launcher and headquartered in New Delhi, operates across three verticals: EdTech, MarTech and Digital Assessments. It reported FY26 revenue of Rs 548.12 Cr. Its digital assessments arm DEXIT Global, acquired on 20 February 2025, is the fourth-largest digital assessments player worldwide and second-largest in India, and the company says DEX holds over 20% of India's digital assessments market (FY26).^[1][2][3]

Business segments

Digital Assessments (DEX): 40.7% of FY26 revenue at Rs 223.32 Cr; computer-based exam delivery for government and institutional clients.^[4]
EdTech: 29.8% of FY26 revenue at Rs 163.24 Cr; test preparation under Career Launcher, publishing and EasyApply platform.^[4]
MarTech: 29.5% of FY26 revenue at Rs 161.56 Cr; events, MICE, digital marketing and virtual events under the Kestone brand.^[4]
Q1 FY27 segment revenue: DEX Rs 48.9 Cr (down 17.4% YoY), test prep Rs 45.0 Cr (down 15.4%), MarTech Rs 38.6 Cr (up 7%).^[5]

Products and brands

Career Launcher test prep covers CAT, XAT, SNAP, CLAT, AILET, BBA, IPMAT, GATE, CUET, GRE, GMAT, SAT, TOEFL and IELTS (FY26).^[3]
Aspiration.ai, Career Launcher's AI-driven learning platform, offers personalised mock tests and rank-prediction analytics (FY26).^[3]
mySATHI, an IP-based testing and learning platform built around the SATHI aptitude test, launched on 23 January 2026.^[3]
Kestone's AI assistant VIRSA runs across its virtual-event platform and the VOSMOS meta-commerce ecosystem (FY26).^[3]
Kestone Utsav, incorporated 20 December 2024, organises HNI weddings and premium social events; it accrued Rs 6 Cr revenue from 4 events in 9M FY26.^[3][6]
GK Publications publishes competitive exam books; Career Launcher Infrastructure prints and publishes educational content (FY25).^[1]

Operations and reach

DEXIT has delivered more than 55 million assessments and can deliver over 15 million a year across 230+ locations (FY26).^[3]
DEX ran 237 own centres in H1 FY26 and conducted 27+ lakh assessments in H1 FY26; ~70 lakh exams in 9M FY26.^[7]
Career Launcher operates 150-plus centres in over 100 cities; about 75% of coaching delivery runs through franchisee business partners (FY26).^[3]
Career Launcher has served over 2.5 million students to date and serves about 80,000 - 100,000 students a year (FY26).^[3]
DEXIT content development is available in 14 languages, with AI-powered remote proctoring (FY25).^[1]

Key operating numbers

EdTech enrolment grew about 4% in FY26 while average realisation fell about 12 to 14%.^[8]
EdTech market share: 30-35% in MBA and 35-40% in Law test prep (H1 FY26).^[7]
DEX won 9 new contracts in Q1 FY27 with total contract value of Rs 33.9 Cr and Rs 22.2 Cr annual contract value.^[5]
DEX FY27 order book stood at 80-85% of FY26 revenue six weeks into FY27.^[8]
EasyApply processed ~14,000 application forms in 9M FY26 vs ~10,000 in the full prior year.^[6]

Customers and markets

DEXIT has decade-plus relationships with IRDAI, NISM, UIDAI, DGT, ICAI and NTA (FY26).^[3]
IRDAI agreed a new three-year deal with DEX at a substantially increased price (Q3 FY26).^[6]
Kestone serves corporates in India, the US, Singapore and Indonesia, from technology, pharma, BFSI and FMCG sectors (FY26).^[3]
MarTech international share was 35.3% in Q1 FY27, up 105 bps YoY, vs 31% in FY26.^[5]
MarTech clients include Dell, Salesforce and AWS; Moody's, Adobe, Autodesk, Deloitte, PwC and Emirates added in FY26.^[8]
VIRSA moved to recurring deployments with Salesforce and Dell in Q1 FY27; Infosys scaling from India pilot to APAC and US.^[5]
EasyApply has been adopted by all marquee management institutes except IIMs (Q1 FY27).^[5]

Growth initiatives

CL-361DM-DEXIT was empanelled by EdCIL for online degree programmes of top-200 NIRF-ranked universities; 22 universities signed as of Q4 FY26.^[8]
The group intends to expand into Singapore, the GCC, Indonesia and North America (FY26).^[3]
VIRSA empanelment in Singapore and US is expected to close by end Q2 or early Q3 FY27.^[5]
Company targets VOSMOS and VIRSA growing from ~10% to 13-15% of MarTech revenue in FY27.^[5]
DEX plans to roll out Bring Your Own Device exam delivery as a capacity lever.^[5]
Talevate HR-tech product had 3-4 corporates in pilot as of Q4 FY26.^[8]

Recent developments

The company exited Engineering, Medical, CA and Bank/SSC coaching so DEXIT can bid for those exams without conflict of interest (FY26).^[3][1]
DEXIT Global has applied to NCLT Mumbai for a capital reduction (FY26).^[3]
Dr. Abhay Jere, former AICTE Vice Chairman, onboarded as CEO; DEXIT integration declared complete (Q4 FY26).^[8]
Acquisition loan reduced from Rs 210 Cr to Rs 174 Cr as of Q1 FY27; company targets net zero debt within 36 months.^[5]
Board approved an equity raise of up to Rs 50 Cr in Q3 FY26; promoters extended an interim bridge loan.^[6]
Talks on strategic investment or equity raise at group or DEX level ongoing, with an update expected within two quarters of Q1 FY27.^[5]

Market Cap

₹262 Cr

High / Low

₹93 / 36

Stock P/E

-10.9

Price / Book

1.0

Book Value

₹47

EPS

₹-4.8

No. of Shares

5.42 Cr

ROCE

4.6%

ROE

-9.9%

OPM

4.9%

Debt / Equity

0.92

Sales

₹548 Cr

Net Profit

₹-26 Cr

Promoter holding

51.7%

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CL Educate Ltd(CLEDUCATE)

About

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Products and brands

Operations and reach

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Customers and markets

Growth initiatives

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