Crizac partners with ETS to offer TOEFL, GRE prep to 1L students
The deal broadens Crizac's service offering beyond UK study abroad but lacks financial terms, leaving the immediate earnings impact uncertain.
— 2 earlier stories on Crizac Ltd. →What's new
- Partnered with ETS India to offer authorised TOEFL & GRE prep resources.
- Targets over 1 lakh study-abroad aspirants annually via its network.
- ETS to expand test centre network to 100, including Kolkata centre by 2027.
Why this matters
Crizac derives 97% of revenue from UK study abroad. This partnership diversifies into test prep, reducing UK dependency. But with no disclosed revenue contribution, it remains a qualitative positive, not a near-term earnings catalyst.
What we're watching
- Any financial terms or revenue guidance linked to the partnership.
- Impact on Crizac's UK-heavy revenue mix (currently 97%).
- Pace of ETS test centre expansion and student uptake.
The full read
Crizac's partnership with ETS India is a strategic move to diversify beyond its UK-centric study abroad business. By embedding TOEFL and GRE prep materials into its network of 14,000 recruitment partners and 500 universities, it aims to reach over 1 lakh students annually. ETS will expand its Indian test centre network to 100, including a Kolkata centre by 2027. For a company with 97% of revenue tied to the UK and recently lowered growth guidance of 15-17%, this is a genuine broadening of the service offering. But the filing carries no financial terms. No revenue contribution. No binding order. It's a qualitative positive that reduces a key concentration risk — the next test is how many of those 1 lakh students convert into paid users. The ₹3,517 cr company, debt-free and with 30.4% ROE, has the balance sheet to absorb strategic bets.
Questions answered
- What exactly is the Crizac-ETS partnership about?
- Crizac will embed authorised TOEFL and GRE preparation materials across its network of 14,000 recruitment partners and 500 universities in 85 countries. ETS also plans to expand its test centre network to 100 in India, including a third Kolkata centre by 2027.
- How many students will this reach?
- Over 1 lakh study-abroad aspirants annually, according to the announcement.
- What is the financial impact of this partnership?
- No financial terms, revenue contribution, or binding order size were disclosed. The immediate earnings impact is uncertain.
- Why is this deal significant for Crizac?
- It diversifies Crizac's business beyond its UK-dominated study abroad segment (97% of revenue) and strengthens its value proposition for students and partners.
- What are Crizac's key financial metrics?
- Market cap ₹3,517 cr, trailing P/E 16.1, ROE 30.4%, zero debt. Latest quarterly sales ₹392 cr, net profit ₹75 cr.
- When will the new Kolkata test centre open?
- By 2027, in partnership with Crizac.
Crizac Ltd.
Latest quarter · Mar 2026
Strength & growth
Story so far
All notes on CRIZAC →- 13 Jul 2026 · 10:17 AM IST Crizac partners with ETS to offer TOEFL, GRE prep to 1L students
- 62d ago Crizac's latest transcript adds nothing new to its Q4 disclosures.
- 64d ago Crizac cuts growth forecast to 15-17%, admits UK revenue is 97% of its business