International student recruitment platform Crizac increased its profit after tax by 41.4% to INR 2.19bn during the 2025/26 financial year, supported by higher application volumes and improved operating margins.
Revenue from operations rose 22.7% to INR 10.42bn, up from INR 8.49bn in the previous year, according to Crizac’s first annual report since listing on the Indian stock exchanges in July 2025.
EBITDA increased by 31% to INR 2.82bn, with its margin improving to approximately 27.1%. Diluted earnings per share rose from INR 8.86 to INR 12.52.
Crizac processed approximately 394,000 student applications during the year, representing a 43% annual increase. Enrolments grew more slowly, rising 13.8% to 24,697, while the company said its application-to-enrolment conversion rate remained broadly stable.
Despite efforts to build a multi-destination recruitment business, the UK generated approximately 97% of Crizac’s revenue. Ireland and its other destination markets accounted for the remaining share.
Crizac said its share of all UK study visas rose from 3.5% in 2023/24 to 6% in 2025/26. Its share of UK study visas granted to Indian students increased from 9% to 13.9% over the same period.
The company is seeking to reduce its dependence on individual education corridors by expanding into additional source and destination markets through organic growth and acquisitions.
India remained Crizac’s largest source market, accounting for approximately 48.7% of students sourced during 2025/26. The rest of Asia accounted for 34.7%, while Africa represented a further 16.4%.
Crizac also used acquisitions to extend its geographical reach and move beyond its core business-to-business recruitment model.
In January 2026, the company acquired a 51.04% stake in Global Tree Careers for INR 211m, expanding its direct-to-student counselling operations.
Global Tree contributed INR 58.3m to group revenue and approximately INR 2.9m to profit before tax between its acquisition and the end of March 2026.
Crizac acquired a further 51% stake in StudiesPlanet through its UK subsidiary in October 2025, paying INR 44.4m in cash. The company said the deal opened access to Latin America as an emerging source region.
The group also made a five-year commitment of $2.5m to the AI-enabled EduMentor platform, supporting its investment in technology-led recruitment and counselling.
What we are essentially trying to become is an AI native mobility platform, and mobility could be of education and talent
Nikhil Jain, Crizac
Nikhil Jain, chief product and marketing officer at Crizac and founder of ForeignAdmits, said these developments formed part of a wider effort to reposition the company beyond overseas university admissions.
“We are no more a study abroad consulting platform,” Jain told The PIE News. “What we are essentially trying to become is an AI native mobility platform, and mobility could be of education and talent.”
Crizac is also exploring domestic undergraduate and postgraduate admissions, including the use of its counselling network to serve students who remain in India.
“Not everyone would be fit to go abroad for education,” Jain said.
The company is still developing a commercially viable model for domestic recruitment, where revenue per placement is lower and demand is more concentrated in tier-two markets. It has not established a firm launch date.
Crizac is also expanding its role across the student journey through visa support, accommodation assistance and student loan referrals. The company identified these services as possible sources of additional revenue and higher margins.
Jain said Crizac would approach accommodation and financing cautiously because both sectors carried operational and regulatory complexities. Further expansion could involve developing services internally or acquiring specialist providers.
“We don’t want to be overly competing in a crowded market like India,” Jain said. “We want to rather expand into newer markets.”
