CRIZAC / Q3-FY26 / claim-ledger

Audit the questions that mattered.

Crizac · Analyst questions, management answers, and the quality of the response where the ledger is available.

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PositiveQ3-FY26 · 2026-02-10Back to quarter ↗

Questions audited

12

Answered directly

71%

Numeric claims

4

Consistency

contradicted

Question ledger

What was answered, and how?

Tammed Patel Tamik · Research desk

direct

Growth drivers for large UK partner universities: market expansion or wallet share gain?

it will come from both the things. we expect to gain market share as ... our market share if you look at across the globe of the student we send to our partner university it's less than 1%.

Tammed Patel Tamik · Research desk

evasive

Regulatory developments in key geographies impacting volume growth over next 6-12 months.

all the news are normally baked in our forecast. We believe some of the news for example FDA with YOP which came yesterday all these are very positive.

Tammed Patel Tamik · Research desk

direct

Unit economics and margin profile of Global Tree compared to existing business.

Global Tree is a B2C company whereas we are a B2B company. Our margins are relatively smaller compared to a B2C company. So in terms of margin of global tree, we expect it to be around 50%.

Svicha Jen · Research desk

direct

Number of applications processed this quarter, split by UK, Canada, Ireland, other.

we did around 1.2 lakh applications in this quarter. Almost 50% came from 50% for India or you can say 50% 90% were for UK and rest were for other countries.

Svicha Jen · Research desk

direct

Reason for spike in other expenses, specifically professional fees.

Our FY quarter 3 FY 26 other expenses are on a higher side because we engage lawyers, consultant for due diligence and other things for acquisition purpose.

Svicha Jen · Research desk

partial

Revenue and profit for subsidiaries Global Tree, Studies Planet, and Youcall for 9M FY26.

Global tree we acquired on 6th of January FY 26. So that has not been consolidated. ... studyplanet.com Limited ... revenue was approximately 1 CR ... you call every subsidiary has a turnover of 10.73 crores in quarter three and study planet has 1.87 cr of the revenue.

Svicha Jen · Research desk

direct

Details on accommodation and financial assistance services launch timeline.

we've already launched the acquiration as a service in our platform. ... we have already tied up with many of the education loan agencies where we will refer the students to them and we'll get a referral fee.

Aman Benerjee · Incred Capital

partial

Outlook on UK geography given stricter rules from April this year.

The major recent change or news item for the UK market was the launch of a new international education strategy ... very positive announcement ... new and much higher target to boost its international education exports to 40 billion pound sterling a year by 2030.

Aman Benerjee · Incred Capital

direct

Plans to enter Canada market given trend of new applications there.

Yes. we are adding institutions and universities in Canada as well. Though having said that UK is still the by far the most popular destination.

Madur Rati · Counter Investments

partial

Overdependence on UK and strategy to break into Canada, Australia given tougher visa macro.

Our strategy is to derisk through diversification globally. ... We're working aggressively to expand to diversify on the destination market side. This we believe is going to be done more efficiently through inorganic growth.

Madur Rati · Counter Investments

direct

Market share with UK institutions and whether entering Canada requires cash burn.

most of the universities works with multiple platforms like ours ... in our existing tech platform we have that capabilities to add any new institution without any additional cost.

Virat Jen (Sedat) · Yes securities

evasive

Normalized other expenses going forward given spike in Q3.

Q3 FY25 numbers are low because of certain rightbacks ... Q3 FY26 as said we have hired consultant for IT securities acquisition these have led to increase in professional fees we don't expect this to continue foreverly it will settle down in between the two end.