Company Overview
Crizac Limited (formerly Crizac Private Limited and GA Solutions Private Limited), scrip code 544439, is a leading international student recruitment company that successfully listed on NSE and BSE in July 2025.
Financial Performance Highlights
Crizac delivered exceptional FY26 results with consolidated revenue growing 22.7% to ₹1,042.20 crore and profit after tax surging 41% to ₹219.10 crore. The company maintained strong profitability with EBITDA margins at 27.0% and PAT margins at 20.5%. Key financial metrics showed significant improvement: operating profit margin expanded to 27.10% from 25.40%, return on capital employed improved to 48.60% from 40.80%, and diluted EPS increased to ₹12.52 from ₹8.86. The company maintained a robust net cash position of ₹467 crore with minimal borrowings of ₹1.75 crore.
Operational Performance and Business Metrics
The company processed 3.94 lakh student applications (43% growth YoY) and achieved 24,697 enrolments (13.8% growth YoY). Crizac expanded its network to 5,389 active counseling partners and 15,980+ registered partners, while maintaining partnerships with 400+ universities across 85+ source countries. Geographically, the UK remained the dominant market contributing 97% of revenue, while India accounted for 48.7% of students sourced.
Strategic Initiatives and Acquisitions
Crizac executed several strategic acquisitions including: 51.04% stake in Global Tree Careers Private Limited (January 2026) for B2C capabilities in Telangana and Andhra Pradesh; 51% stake in StudiesPlanet.com Limited (October 2025) for Latin American market entry; and Medway Educational Consultant Team (April 2026) for New Zealand operations. The company invested USD 2.5 million in AI-powered EduMentor platform and expanded service offerings to include accommodation and student financing services.
Corporate Governance and Compliance
The company maintained full compliance with SEBI Listing Regulations and received unqualified audit opinions from Singhi & Co. The board comprised 6 directors with 3 independent directors and 1 woman director. Crizac implemented the CRIZAC Employee Stock Option Plan 2026, granting 2.59 million options and recognizing ₹546.77 lakhs in expenses. The company also maintained comprehensive policies including Code of Conduct, Related Party Transactions, and Whistleblower policies.
AGM and Corporate Actions
The 15th Annual General Meeting is convened on September 11, 2026, to adopt financial statements and consider several resolutions including: re-appointment of Manish Agarwal as Whole-time Director & CFO; appointment of Christopher Flood Nagle as Non-Executive Director; and re-appointment of independent directors Anuj Saraswat and Payal Bafna. The company declared an interim dividend of ₹8 per equity share totaling ₹139.99 crore with a payout ratio of approximately 64%.
Subsidiaries and Corporate Structure
Key subsidiaries include Crizac Ltd (UK) (wholly-owned), Ucol Fze (wholly-owned), Global Tree Careers Private Limited (51.04% stake), and StudiesPlanet.com Limited (51% stake through Crizac UK). The company reported foreign exchange earnings of ₹239.05 crore and maintained a workforce of 399 employees with 59% female representation.
Future Outlook and Risk Factors
Crizac targets 40% revenue from non-UK geographies by FY28 with expansion plans in Australia, United States, Germany, France, and Singapore. Key risks include immigration policy changes in destination countries, UK market concentration (97% revenue), technology risks, and increasing competition. The company is mitigating these through geographic diversification, technology investments, and strategic acquisitions.