Crizac Ltd (CRIZAC)

Consumer Services · Education · NSE · Updated 1 September 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹165.45 ↓ 52.67% (1Y)

🎯 Key Takeaways

Crizac Ltd is in a strategic growth phase, transitioning from a domestic education services provider to a globally scaled player through acquisitions and AI-driven platform monetization. Despite strong profitability metrics like ROE of 43.
Revenue declined 48.6% QoQ to ₹201 in Q1FY27.
⚠️ Execution risk from integration of recent acquisitions like Inova Consultancy Limited and ForeignAdmits, which may strain margins if synergies are not

Market Cap

₹2,895

P/E Ratio

13.1

P/B Ratio

5.75

ROE

43.6%

ROCE

57.6%

Debt/Equity

0.00

Div Yield

4.84%

Promoter

79.9%

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📖 The Story

Crizac Ltd is in a strategic growth phase, transitioning from a domestic education services provider to a globally scaled player through acquisitions and AI-driven platform monetization. Despite strong profitability metrics like ROE of 43.6% and ROCE of 57.6%, the company faces near-term margin pressure and revenue volatility due to macroeconomic and regulatory headwinds in international education. Its narrative is defined by inorganic expansion into new markets and digital innovation, supported by a debt-free balance sheet and dominant promoter holding.

📰 What's Happening

In Q1 FY27, Crizac expanded its global footprint by acquiring Inova Consultancy Limited in July 2026 and ForeignAdmits in June 2026, reinforcing its inorganic growth strategy. Management highlighted monetization improvements via AI-driven platform capabilities and expansion into new markets including the Netherlands and Mexico. Despite a 4% YoY revenue decline to ₹2,084 million in Q1 FY27, PAT grew 2.9% YoY to ₹471 million, with margins stabilizing at 22.6%. The company processed 104,000 applications with 4,751 enrollments, reflecting 15% YoY growth in student enrollments across 12 destination markets and 4,032 active counselling partners.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	162	279	392	201
Operating Profit	57	61	86	58
OPM %	35.2%	21.7%	22.0%	28.6%
Net Profit	48	51	75	46
EPS	₹2.76	₹2.85	₹4.29	₹2.69

Revenue trends show seasonal softness, with Q1 FY27 revenue at ₹201 crore down from ₹392 crore in Q4 FY26, though PAT margin improved significantly to 22.6% from prior quarters. Operating income declined 4% YoY, but EBITDA margin held at 29.8% despite YoY compression. The company's financials reflect a shift toward higher-margin global services, with net cash position of ₹467 crore and no borrowings, enabling strategic reinvestment. The decline in revenue is attributed to mix shifts in university partner composition, but enrollment growth and margin expansion suggest improving operational leverage.

🔮 Management Outlook & What's Next

Management expects margin normalization over the remaining quarters of FY27, driven by volume recovery and monetization improvements from AI-enabled platform capabilities. While no formal guidance was provided on specific targets, management emphasized sustained inorganic growth through acquisitions to expand into Europe and Mexico, and highlighted long-term demand resilience tied to India's position as the largest source market for international education. Investor focus is on execution of geographic expansion and digital monetization initiatives.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

Item	Mar 2025	Mar 2026	Mar 2026
Equity Capital	35	35	35
Reserves	468	565	550
Borrowings	0	0	2
Total Liabilities	878	784	876
Fixed Assets	85	30	51
Investments	47	38	31
Total Assets	878	784	876

The balance sheet reflects a strong, debt-free capital structure with equity and reserves growing to ₹565 crore and total assets of ₹784 crore as of March 2026. Net cash position of ₹467 crore provides significant financial flexibility for acquisitions and R&D investment. Borrowings remain negligible, and asset growth has been modest, indicating conservative capital deployment. The company is prioritizing internal funding and shareholder returns, including an interim dividend of ₹8 per share, while maintaining a disciplined approach to leverage.

💰 Cash Flow Statement (₹ Cr)

Item	Mar 2025
Operating	+187
Investing	-149
Financing	-0
Net Cash Flow	+39

👥 Shareholding Pattern

Category	Q2FY26	Q3FY26	Q4FY26	Q1FY27
Promoters	79.9%	79.9%	79.9%	79.9%
FII	3.7%	2.5%	2.3%	1.6%
DII	3.8%	3.5%	3.5%	3.2%
Public	8.8%	9.8%	9.5%	10.4%
# Shareholders	62,406	60,761	59,200	62,067

Promoter holding remains stable at 79.94% across all quarters, indicating strong control and confidence. Institutional investor interest has fluctuated slightly, with FII shareholding declining from 3.74% in Q2 FY26 to 1.61% in Q1 FY27, while DII increased from 3.48% to 3.22%. The number of public shareholders has grown from 59,200 to 62,067, suggesting retail investor engagement. No significant selling by promoters or institutions is evident, and the shareholder base remains broad-based with over 62,000 individual shareholders.

⚖️ Peer Comparison — Education

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
PWL	33,795	970.8	24.9%	2.1%	0.00
SEIL	3,259	562.4	10.9%	8.2%	0.11
CRIZAC	2,895	13.1	57.6%	43.6%	0.00
VERANDA	2,415	16.0	18.9%	16.6%	0.32
SCILAL	1,847	65.0	1.3%	0.9%	0.00
JARO	1,026	17.4	53.9%	48.2%	0.21
CLEDUCATE	339	—	4.2%	-8.8%	0.89
CPEDU	333	14.0	56.5%	41.8%	0.00
540062	170	722.2	2.2%	2.2%	0.00
544856	167	—	—	—	0.19

🔗 Peer Stock Analyses

PWL SEIL VERANDA SCILAL JARO

⚠️ Risk Factors

1. Execution risk from integration of recent acquisitions like Inova Consultancy Limited and ForeignAdmits, which may strain margins if synergies are not realized quickly. 2. Regulatory and visa-related headwinds in key international markets, including potential policy shifts affecting student mobility. 3. Dependence on seasonal enrollment cycles and university partner mix, which can lead to revenue volatility. 4. Talent retention in senior management roles, despite recent appointments, amid competitive global education technology hiring trends.

📋 Recent Filings

🧠 Analyst's Read

Crizac is executing a clear strategy to scale globally through acquisitions and digital innovation, supported by strong profitability and a pristine balance sheet. However, near-term margin pressure and revenue softness require careful execution of its integration and monetization roadmap. Investors should monitor the pace of international expansion, realization of acquisition synergies, and management's ability to deliver on AI-driven monetization promises without compromising profitability.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-01.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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