Crizac Crizac Limited has appointed Rituparno Sarkar as Chief Technology Officer, Nikhil Jain as Chief Product and Marketing Officer, and Dishant Kharbanda as Chief Innovation Officer, effective August 3, 2026. The Board of Directors approved these changes during its meeting on August 3, 2026, alongside a revision in the company’s internal reporting structure that reclassifies certain senior executives out of the Senior Management Personnel (SMP) category.

The appointments are disclosed pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing also notes that Sibendu Roy ceases to hold the position of Chief Technology Officer and Salaria Zaheer ceases to hold the position of Chief Marketing Officer, both with effect from August 2, 2026. Additionally, Anindita Das continues as Chief Business Officer but is no longer classified as an SMP due to the revised reporting hierarchy.

New Appointments

The company has designated three new leaders to its Senior Management Personnel roster:

Restructuring of Senior Management Roles

The filing confirms that there is no cessation of employment for the outgoing SMPs. Sibendu Roy and Salaria Zaheer will continue to be associated with Crizac Limited as employees in different capacities. Similarly, Anindita Das retains her position as Chief Business Officer. However, pursuant to the revision in the company’s internal reporting structure, the role of Chief Business Officer no longer falls within the definition of "Senior Management" under Regulation 16(1)(d) of the SEBI LODR Regulations. Consequently, Das ceased to be recognized as an SMP from the close of business hours on August 2, 2026.

The details of these changes were submitted to the National Stock Exchange of India Ltd and BSE Limited on August 3, 2026, in compliance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Crizac Limited reported a 1% year-on-year rise in consolidated net profit to ₹461.66 lakh for the quarter ended June 30, 2026, driven by stable revenue performance in its international student recruitment business. Standalone net profit surged 29% to ₹528.63 lakh, reflecting improved operational efficiency at the holding company level. The results were approved by the Board of Directors on August 3, 2026, and reviewed by statutory auditors Singhi & Co.

The Board also executed significant leadership changes, appointing Christopher Flood Nagle as Additional Director and Chairman effective August 4, 2026. Dr. Vikash Agarwal stepped down from the Chairperson role but continues as Executive Director & Managing Director. Non-Executive Director Pinky Agarwal resigned due to professional commitments.

Financial Performance

Consolidated revenue from operations declined 4% to ₹20,121.32 lakh, compared to ₹20,953.53 lakh in Q1FY25. However, standalone revenue grew 23% to ₹8,201.07 lakh from ₹6,666.83 lakh in the same period last year. The divergence highlights shifting cost structures between the holding entity and its subsidiaries.

The company changed its depreciation method from Written Down Value (WDV) to Straight Line Method (SLM) prospectively from April 1, 2026. This accounting estimate change reduced depreciation and amortization expenses by ₹125.20 lakh for the quarter, positively impacting bottom-line figures.

Leadership Restructuring

The Nomination and Remuneration Committee recommended several senior management personnel (SMP) changes:

• Christopher Flood Nagle appointed as Chairman (Aug 4, 2026) and Additional Director (Aug 3, 2026).
• Rituparno Sarkar appointed as Chief Technology Officer, replacing Sibendu Roy who ceased SMP status but remains an employee.
• Nikhil Jain appointed as Chief Product and Marketing Officer, replacing Salaria Zaheer who also retains employment.
• Dishant Kharbanda appointed as Chief Innovation Officer.
• Anindita Das ceased SMP status as Chief Business Officer due to structural revisions.

Independent Directors Anuj Saraswat and Payal Bafna were recommended for reappointment for second terms starting February and March 2027, respectively, subject to shareholder approval at the upcoming AGM.

What the Numbers Show

The 29% surge in standalone net profit contrasts with the modest 1% growth in consolidated net profit. This discrepancy suggests that while the holding company’s core operations are becoming more profitable—likely aided by the new depreciation policy—the subsidiaries are facing margin pressures or higher operational costs. The acquisition of Inova Consultancy Limited by Crizac UK, announced post-quarter, signals continued expansion strategy despite these mixed profitability signals across the group.