Crizac Ltd Q4 FY26 Results

FY26 was a year of strong progress for Crizac Limited, underpinned by effective execution across organic and inorganic growth initiatives. Total Income for the year stood at 10,711 Mn, reflecting YoY growth of 21.0%. For the fourth quarter, Total Income stood at 3,986 Mn, growing 14.7% YoY and 39.6% QoQ. This performance was driven by 43.0% YoY growth in applications processed, 36.5% YoY growth in active agents, and 13.8% growth in student enrolments, reflecting sustained operating momentum across our global education platform. We deepened our footprint across established destination markets while driving meaningful growth in application volumes and agent engagement across Asia, Africa, and other high-potential source regions. Our expanding agent network and institutional partnerships continue to reinforce the scalability and network effects inherent to our platform model. Inorganically, this was a year of concentrated strategic activity. In October 2025, we acquired Studies Planet, opening the LATAM market as a new source region. In January 2026, we acquired a 51% stake in Global Tree Careers, strengthening domestic origination and broadening our B2C service portfolio. In March 2026, we committed USS2.5 million to Edumentor project, advancing our Al-driven student matching capabilities. Continuing this expansion momentum, we scaled our New Zealand vertical through onboarding of the Medway Educational Consultants team, deepening our destination market presence. With four strategic transactions completed during the year, our pace of inorganic activity is visibly accelerating. These moves reflect our delib erate strategy of using acquisitions to compress timelines for geographic entry and capability build-out. We remain actively engaged in evaluating opportunities across both new and existing geographies, targeting assets that enhance scale, technology, or market access. EBITDA for FY26 stood at 2,824 Mn, reflecting YoY growth of 31.0%. EBITDA margin expanded by 172 bps to 27.1%, demonstrating the operating leverage inherent in our business model. EBITDA for Q4 FY26 stood at 939 Mn, reflecting YoY growth of 42.8% with margin expanding by 467 bps to 24.0%. PAT* for FY26 stood at X2,191 Mn, a YoY growth of 41.4%, with a PAT margin of 20.5%. For Q4 FY26, PAT stood at 750 Mn, a YoY growth of 50.3%, with a PAT margin of 18.8%, supported by the scalable and asset-light nature of our operating model. The Board declared a dividend of X8 per equity share during Q4 FY26, representing a payout ratio of approximately 64% reflecting confidence in Company's financial strength and continued ability to generate sustainable cash flows. Global student mobility is navigating a dynamic environment, with evolving visa policies, geopolitical disruptions in certain regions, and the strengthening of the US Dollar and Pound Sterling adding to the cost burden for students from emerging source markets. Notwithstanding these near-term headwinds, long-term structural demand for quality international education remains strong, underpinned by growing aspirations across our core source markets. We are well