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From Flat Growth to a Turnaround

After a stagnant FY24, Gurugram-based edtech platform Coding Ninjas has staged a strong comeback in FY25. Backed by Info Edge (parent of Naukri.com), the company clocked Rs 67 crore in revenue, marking a 26.4% year-on-year growth. Even more encouraging, its losses shrank by 41.2%, dropping from Rs 51 crore in FY24 to Rs 30 crore in FY25.

While the numbers suggest a turnaround, challenges remain — particularly with the company’s accumulated losses crossing Rs 151 crore and current liabilities outpacing assets.

What’s Driving Growth?

Founded in 2016 by Ankush Singla, Kannu Mittal, and Dhawal Parate, Coding Ninjas has carved out a niche in online programming education. Its platform offers:

• Training in programming languages like C++, Java, and Python
• Courses in machine learning, data science, and web development
• Collaborations with top institutions and universities to expand its portfolio

For FY25, the company’s entire revenue came from online coaching services, reflecting strong demand for digital learning among engineering and tech students.

Cost Cutting: A Strategic Reset

Coding Ninjas’ improved financials were also powered by significant cost discipline. The company reduced total expenses by 9% in FY25, with key cuts including:

• Employee benefits slashed by 18.5% to Rs 44 crore
• Advertising and promotions holding steady at Rs 28 crore

This sharper focus on operational efficiency has directly helped trim losses.

The Balancing Act: Assets vs Liabilities

Despite progress, there are red flags. According to the company’s filings:

• Current assets: Rs 17 crore (including Rs 7.5 crore in cash/bank balances)
• Current liabilities: Rs 41.7 crore
• Deficit: Rs 24.7 crore

This mismatch means Coding Ninjas could face liquidity pressures unless revenue growth continues at its current pace or new funding is secured.

The Bigger Picture: Can Coding Ninjas Compete in Edtech 2.0?

India’s edtech industry is at a crossroads. Giants like Byju’s have stumbled, while niche players such as PhysicsWallah and Scaler are gaining ground. Coding Ninjas appears to be positioning itself as a specialist platform rather than a generalist, focusing on job-ready programming and tech skills.

With Info Edge’s backing and growing demand for AI, machine learning, and coding talent, the company may yet emerge stronger in the next wave of edtech growth.

• Revenue FY25: Rs 67 crore (up 26.4% YoY)
• Losses FY25: Rs 30 crore (down 41.2%)
• Cumulative losses: Rs 151.5 crore
• Expense reduction: 9% overall, driven by employee cost cuts
• Current assets vs liabilities: Rs 17 crore vs Rs 41.7 crore

Coding Ninjas has proven it can grow while cutting losses — but with mounting liabilities, the next 12 months will be crucial. Will it secure profitability, or will liquidity concerns force another funding round?

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