CRIZAC

Crizac share price & financials

Price
₹185.73
Market cap
₹3.3k Cr
Sector
Consumer Services
Calls analysed
5
Latest concall · Q1 FY27 · call held 04 Aug 2026

Crizac Limited Q1 FY27

Revenue from Operations 2,012 million −4%EBITDA 600 million −8%EBITDA Margin 29.8% PAT 471 million +3%

What went well

  • Active counseling partners base increased by 1.2% year-on-year to 4,032.
  • Student enrollment growth growing by 15% year-on-year to 4,751.
  • Share of total student visa granted in UK increased from 3.5% in FY24 to 6% in FY26.

What to watch

  • Revenue from operations for Q1 FY27 declined 4% year-on-year to INR2,012 million.
  • Application process moderated by 6.2% year-on-year to 1.04 lakh for the quarter.
Read the full call →

What Crizac Limited does

Crizac operates a B2B technology platform that connects international students, recruitment agents and universities to facilitate overseas higher-education admissions. Agents source and counsel students through its proprietary platform, which handles application screening, document verification, offer-letter issuance, fee updates and enrolment tracking using AI-led automation. Crizac earns a commission from partner universities on successful student enrolments and shares part of it with the referring agent. The company sources students from 85+ countries and places them into partner universities across 11 destination countries, with regional operational offices spanning 10 countries including India, the UK and the UAE, and has expanded inorganically into adjacent B2C study-abroad counselling and new source geographies.

Partner universities
400+
Destination countries
11
Source countries
85+
Countries with operational presence (regional offices)
10
Active agents (FY26)
5,389
Global agents & institutions connected on platform
15,000+
Founded 2011Headquarters Kolkata, India (co-primary operations in London, UK and Sharjah, UAE) Company website

Guidance record · Q1 FY27

what the last two calls moved 20 tracked 1 delivered 5 missed 14 open
  • Student Loan Distribution Launch delivered said Q2 FY26 Promised: Go live in Q3 FY26 Q1 FY27: Promise relates to a completed period (Q3 FY26) and was achieved.
  • Annual Revenue Growth (FY26) missed said Q2 FY26 Promised: 25-30% Q1 FY27: Promise relates to a completed period (FY26) and was missed.
  • UK Revenue Contribution Reduction at risk said Q2 FY26 Promised: Reduce from <90% further Q1 FY27: The UK concentration remains extremely high (~97%). While management has a new 3-year target to reduce it, the original promise to reduce it 'further and further' from <90% has been reversed.

All 20 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue down 4.3%, net profit up 0.0% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue130 218 341 210 162 +25%279 +28%392 +15%201 −4%
EBITDA32 63 65 61 63 +97%66 +5%95 +46%61 +0%
Net profit20 43 50 46 48 +140%51 +19%74 +48%46 +0%
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 −48.5% 1Y

₹150₹200₹250₹300₹350Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 16 Oct 2025Q3 FY26 — 28 Jan 2026Q4 FY26 — 25 May 2026Q1 FY27 — 4 Aug 2026

1Y: ₹362.15 on 10 Sept 2025 → ₹186.68. High ₹362.15 (10 Sept 2025), low ₹160.29 (4 Sept 2026).

How the price took the results

close before → close after

Q1 FY27
−2.1%
4 Aug
Q4 FY26
+10.0%
25 May
Q3 FY26
+4.9%
28 Jan
Q2 FY26
+4.7%
16 Oct

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.

Financials, as filed

Revenue grew 22.7% a year over 1 year, FY25 to FY26. Operating margin widened to 27.3%.

Year endingFY25FY26
Revenue₹850 Cr₹1.0k Cr
Operating profit₹211 Cr₹285 Cr
Operating margin24.8%27.3%
Interest₹0 Cr₹0 Cr
Depreciation₹45 Cr₹28 Cr
Net profit₹155 Cr₹219 Cr
Net margin18.2%21.0%
Cash from operations₹187 Cr₹144 Cr
Free cash flow₹188 Cr₹127 Cr
ROCE49.0%52.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹0 Cr₹10 Cr₹10 Cr₹35 Cr₹35 Cr₹35 Cr
Reserves₹37 Cr₹98 Cr₹213 Cr₹302 Cr₹565 Cr₹550 Cr
Borrowings₹1 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹2 Cr
Other liabilities₹52 Cr₹65 Cr₹83 Cr₹251 Cr₹184 Cr₹289 Cr
Total liabilities₹90 Cr₹172 Cr₹307 Cr₹588 Cr₹784 Cr₹876 Cr
Fixed assets₹27 Cr₹27 Cr₹26 Cr₹128 Cr₹81 Cr₹120 Cr
Capital work in progress₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Investments₹18 Cr₹67 Cr₹106 Cr₹143 Cr₹38 Cr₹31 Cr
Other assets₹45 Cr₹79 Cr₹175 Cr₹317 Cr₹665 Cr₹724 Cr
Total assets₹90 Cr₹172 Cr₹307 Cr₹588 Cr₹784 Cr₹876 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.

What the price assumes

Attractive

To justify its price of ₹187, this stock must grow earnings at 8% every year for 7 years. Our analysis caps realistic growth at ~41%. At that growth it is worth ₹1011 — upside of 442%.

Growth the price implies
7.8% a year
for 7 years, fading to 4%
It has actually compounded at
41.3% a year
net profit, FY25–FY26 · EPS 41.5%
The gap
-0.3 pp
442% downside if it only repeats history
Price today ₹186.68 Value at the reference growth ₹1,010.97

Change the assumptions yourself →

All earnings calls (4)

Read the Q1 FY27 call →

Learn to analyse Crizac Limited

Guides on how to read this kind of business and the numbers that matter.