ADDICTIVE
Addictive Learning Technology financials
- Market cap
- ₹74 Cr
- Sector
- Consumer Services
- Calls analysed
- 2
Addictive Learning Technology Ltd Q1 FY27
What went well
- Q1 FY27 revenue grew 59% QoQ and 18% YoY, indicating a strong turnaround from the previous quarter.
- Reported a PAT of 31 lakh and a robust operating cash flow of 4 Cr in Q1 FY27.
- Successfully achieved the internal net cash generation goal of 2 Cr per month in July, with June at 1.8 Cr and August showing similar positive trends.
What to watch
- The year-on-year revenue growth of 18% is considered not as high as desired, especially following a loss-making Q4 FY26.
- Amortization charges of 4-4.5 Cr per year are expected to persist for the next 2-3 years, which will continue to impact reported PAT.
What Addictive Learning Technology Ltd does
Addictive Learning Technology runs online certification and upskilling programs under the LawSikho brand, sold directly to students through a sales-led enrolment process. It is building out higher-value offerings via a tie-up with IIT Roorkee for top-up certifications and is pursuing US university accreditation to launch an online MBA. It also operates the LawSikho Opportunity Portal, which matches job-seeking students with employers.
Segments
- LawSikho certification programs
- IIT Roorkee top-up certification tie-up
- US University accreditation program
- LawSikho Opportunity Portal
- LawSikho Opportunity Portal monthly users
- 1.5 Lakh
- New AI-enabled sales process conversion rate
- 1:4 to 1:5
Guidance record · Q1 FY27
what the last two calls moved 15 tracked 0 delivered 6 missed 9 open- H2 FY26 Revenue missed said Q2 FY26 Promised: Base case is ₹50 Crores for the next 6 months. Q1 FY27: Management became evasive on giving revenue guidance, stating 'Every time I give revenue guidance I don't know what happens', implying the H2 FY26 target was not met. The company also reported a loss-making Q4 FY26.
- US University Program Approval delayed said Q2 FY26 Promised: Final board meeting in January and February 2026 for approval. Q1 FY27: Management announced the plan is on hold and will be pursued again starting October-November 2026, contingent on achieving domestic net cash generation goals. The original Q4 FY26 timeline was missed.
- Main Board Migration on track said Q2 FY26 Promised: Eligible in 16-17 months. We definitely want to migrate. Q1 FY27: Not mentioned in the Q1 FY27 call. The target eligibility date of approx. mid-2027 has not yet passed.
All 15 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue down 33.5%, net profit down 94.1% against the same quarter last year.
| Line item | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 31 | 33 | 41 | 34 | 20 −36% | 41 +26% | 14 −65% | 23 −34% |
| EBITDA | 6 | 7 | 9 | 8 | 6 +6% | 12 +69% | -1 −108% | 5 −42% |
| Net profit | 4 | 3 | 6 | 4 | 2 −54% | 5 +73% | -4 −162% | 0 −94% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −67.7% 1Y
1Y: ₹147 on 10 Sept 2025 → ₹47.5. High ₹151 (12 Sept 2025), low ₹37.7 (17 Jul 2026).
How the price took the results
close before → close after
- Q1 FY27
- +2.6%
- 17 Aug
- Q2 FY26
- +0.8%
- 1 Dec
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Balance sheet
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Equity capital | ₹0 Cr | ₹16 Cr | ₹16 Cr | ₹16 Cr |
| Reserves | ₹2 Cr | ₹52 Cr | ₹67 Cr | ₹63 Cr |
| Borrowings | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other liabilities | ₹7 Cr | ₹11 Cr | ₹11 Cr | ₹19 Cr |
| Total liabilities | ₹9 Cr | ₹79 Cr | ₹94 Cr | ₹98 Cr |
| Fixed assets | ₹0 Cr | ₹19 Cr | ₹75 Cr | ₹77 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹8 Cr | ₹11 Cr | ₹15 Cr |
| Other assets | ₹9 Cr | ₹52 Cr | ₹8 Cr | ₹6 Cr |
| Total assets | ₹9 Cr | ₹79 Cr | ₹94 Cr | ₹98 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Mar 2026
Since Mar 2025, the public added +1.62 pp while FIIs trimmed −1.47 pp. The shareholder count shrank 24% to 1,595.
- Promoters
- 65.1%
- FIIs
- 0.6%
- DIIs
- 1.4%
- Public
- 32.9%
Since Mar 2025
- Public +1.62 pp
- FIIs −1.47 pp
- Promoters −0.42 pp
How it drifted, 5 quarters
Over this window the public went from 27.2% to 32.9% — +5.8 pp.
Ownership split by quarter, oldest first. Mar '24: Promoters 66.1%, FIIs 5.3%, DIIs 1.5%, Public 27.2%.Sep '24: Promoters 66.1%, FIIs 2.9%, DIIs 0.6%, Public 30.4%.Mar '25: Promoters 65.5%, FIIs 2.1%, DIIs 1.1%, Public 31.3%.Sep '25: Promoters 65.1%, FIIs 0.6%, DIIs 1.4%, Public 32.9%.Mar '26: Promoters 65.1%, FIIs 0.6%, DIIs 1.4%, Public 32.9%.
Who bought this quarter
since Sep 2025
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Harsha Venkatesh +2.50 pp 4.53% held
- Uninav Developers Pvt Ltd newly disclosed 1.10% held
- Aarth AIF Growth Fund AIF +0.19 pp 1.36% held
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Mar 2026 filing
Every holder of Addictive Learning Technology Ltd above SEBI's 1% disclosure line, and what changed since Sep 2025.
| Holder | Stake | Change |
|---|---|---|
| Ramanuj Mukherjee | 27.98% | unchanged |
| Abhyudaya Agarwal | 27.95% | unchanged |
| Harsha Venkatesh | 4.53% | +2.50 pp |
| Harsh Jain | 1.98% | unchanged |
| Siddhant Singh Baid | 1.98% | unchanged |
| Komal Shah | 1.96% | unchanged |
| Sudeep Deb | 1.79% | unchanged |
| Aarth AIF Growth Fund AIF | 1.36% | +0.19 pp |
| Uninav Developers Pvt Ltd | 1.10% | newly disclosed |
| Priyanka Piyush Karwa | 0.68% | unchanged |
| Yash Vijayvargiya | 0.66% | unchanged |
| Sanghita Mukherjee | 0.03% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
All earnings calls (2)
Read the Q1 FY27 call →Learn to analyse Addictive Learning Technology Ltd
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