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Investor Presentation

Crizac Investor Presentation: Key Takeaways

Q2 FY27 Operating Income ₹1,027 Mn (-36.7% YoY), Op EBITDA ₹330 Mn (32.2% margin), PAT ₹369 Mn (-23.7%). Management blames one-off travel and visa disruption and expects H2 recovery.

Highlights
Revenue growthQ2 -36.7% YoY; H1 -18.3%; management calls Q2 one-off
MarginsOp EBITDA margin 32.2% vs 36.3% YoY; H1 30.6% vs 33.3%
Demand visibilityPipeline visibility cited; deferred students returning for Q3 intakes
Management confidenceConfident: Q2 an exception; expects stronger Q3

Growth

H1 FY27 Operating Income ₹3,039 Mn (-18.3%), Op EBITDA ₹930 Mn (-24.9%), PAT ₹840 Mn (-10.7%). Q2 PBT -38.1% YoY.

Outlook

FY27 seen on track to maintain FY26 performance; H2 FY27 expected significantly stronger, growing over H2 FY26.

Risks

Visa tightening, flight disruption, FX moves, higher team/tech costs; depreciation switched WDV to SLM from April 2026.

Last quarter's promises, checked

Delivered

  • FY27 EBITDA margin 25-27% → H1 30.6% (= BEAT, H1 only)
  • Remain debt-free → net cash ₹5,695 Mn → ₹5,948 Mn (= BEAT)

Partly delivered

  • FY27 flat vs FY26 → H1 Op income -18.3% YoY, H2 must offset (= PARTIAL, open)
  • Q3/Q4 pent-up recovery → H2 'significantly stronger' reiterated, unproven (= PARTIAL, open)
  • Ancillary 1-1.5% of revenue, 2-5% EBITDA → accommodation launched, no revenue disclosed (= PARTIAL)

Missed

  • Q2 'a bit down' YoY → Op income -36.7% YoY (= MISS)
Source

Investor Presentation filed with BSE, NSE: CRIZAC. Summary written with AI assistance from the document.

Read the document ↗

Crizac Ltd: key numbers

Share price
₹138.56
Market cap
₹2,425 Cr
Revenue (annual)
₹1,042 Cr
Net profit (annual)
₹219.1 Cr
P/E (TTM)
11.0×Sector 33.8×
Promoter holding
79.94%+0.00% QoQ
FII holding
1.17%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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