1. Opening Hook
While immigration headlines were busy tightening screws, Landmark Global Learning decided to do the most Indian corporate thing possible: change the name and call it a strategy.
From “Immigration Consultants” to “Global Learning” — because apparently one rebrand is worth two visas.
H1 FY26 was rough: students delayed plans, visa scrutiny increased, and conversion cycles stretched like a 3-hour Bollywood director’s cut. Management’s response?
“Timing slowdown, not structural.” (Classic.)
But the real twist: instead of only selling overseas admissions, they want to become the overseas campus — Dubai license “any day now,” Paris “45–60 days,” and Africa/Nepal/Pakistan recruitment on the side.
It’s either a bold pivot… or the most expensive PowerPoint dream.
Read on. It gets spicy. 🌶️
2. At a Glance
- Revenue ~₹15.6 cr – Demand exists, but students are acting like it’s an optional purchase.
- EBITDA ~₹0.74 cr – Fixed costs met lower revenue and said “my bad.”
- PAT ~₹2.1 cr – Somehow profitable; accounting gods still listening.
- Canada ~70% mix – Diversification started… but Canada still runs the house.
- FY28 “vision” ₹150 cr revenue + ₹50 cr profit – The ambition is louder than the current EBITDA.
3. Management’s Key Commentary
“H1 FY26 was a challenging phase… increased visa scrutiny and evolving policies.”
(Translation: Governments changed the rules mid-game.) 😏
“Inquiry traction remained healthy, but conversion cycles elongated.”
(Translation: Leads came in, money didn’t.)
“We expanded by five more branches.”
(Translation: We added fixed costs in a weak cycle. YOLO.)
“We sponsored international fairs like APAIE, PAL, ICEF.”
(Translation: Brand building is great… unless the P&L disagrees.)
“We are very close to getting a Dubai campus license.”
(Translation: ‘Close’ is a corporate unit of distance.)
“Paris license in 45–60 days.”
(Translation: If the paperwork gods cooperate.) 🙏
“We’re confident of ₹150 cr revenue with ₹50 cr profit in FY27–28.”
*(Translation: This is the dream; execution pending.) 🚀
4. Numbers Decoded
Metric H1 FY26 Decode
Revenue ~₹15.6 cr Flat-ish vs LY; demand slowed, not dead
EBITDA ~₹0.74 cr Margin hit = branch + brand spends + lower base
PAT ~₹2.1 cr Still profitable; implies other income/benefits
Canada share ~70% Still concentrated; diversification early
Dubai campus “1–2 weeks” Timeline risk: high
Paris campus “45–60 days” Regulatory timeline risk: very high
FY27 revenue guide ~₹50–70 cr Bounce-back target
FY27 PAT margin guide 20–25% Aggressive for a consultancy in volatility
FY28 vision ₹150 cr + ₹50 cr Big leap; needs campuses + intl recruitment to click
One-line reality check: Right now they’re a consultancy under pressure, trying
