Addictive Learning Technology Ltd(ADDICTIVE)

NSE: ADDICTIVE

₹ 40.45-3.23%refreshed 26 Oct, 10:01 am ISTMarket cap: ₹ 64 crUpdated: 24 Oct 2026

About

Addictive Learning Technology runs online upskilling programmes under the LawSikho and Skill Arbitrage brands. It sells mainly through bootcamps, inside sales and paid communities. In FY26 it reported revenue of Rs 75.72 Cr. In Q1 FY27 its revenue was ₹22.7 Cr, up 59% from the previous quarter.^[1][2][3][4]

Revenue engines

In Q1 FY27 management described three monthly collection streams: bootcamps at ₹4 - 5 Cr, community at ₹1 Cr+ and inside sales at ₹3.5 Cr.^[2]
Bootcamps sit at the top of the sales funnel, alongside inside sales and the community model (FY26).^[4]
The LawSikho brand contributed about 30% of revenue in H1 FY26; most bootcamps had moved to the Skill Arbitrage brand.^[3]
In H1 FY26 communities delivered 2x the return on ad spend of bootcamps.^[3]

Products and brands

The company launched more than 40 products in FY25, covering areas such as academic writing, medical writing, US patent agent, CPA/ACCA, corporate finance and CFA.^[5]
In FY25 it launched Brihaspati.ai for India's low-ticket ₹3,000 - ₹10,000 course market and Skills After AI as a US-focused brand.^[5]
In FY25 the average course price was about ₹58,000 at LawSikho and ₹68,000-₹69,000 at Skill Arbitrage.^[5]
A tie-up with iHub Divyasampark (IIT Roorkee) adds certification top-ups, letting a ₹65,000 programme sell for ₹1 Lakh+ (H1 FY26).^[3]
The company had deployed 14+ student-facing AI tools by Q1 FY27, including BriefReach, PitchMachine and JobFeed.^[2]

Key operating numbers

Bootcamps ran at 8 per month in Q1 FY27, up from a low of 4 per month in Feb - Mar 2026.^[2]
Inside sales reached a ₹3.5 Cr/month run-rate after a low of about ₹2 Cr/month; management called the latest month the best in the company's history (Q1 FY27 call).^[2]
The cost per qualifying lead was ₹524 in Aug 2026, down 58%. Free bootcamp registration cost fell from ₹150 - 250 to ₹49 - 77.^[2][4]
Monthly cash outflow was ₹6 - 6.5 Cr in Q1 FY27, down from ₹8 Cr+ in January 2026. Refunds ran at about 3%.^[2]
Advertising and promotion spend was ₹5.90 Cr in Q1 FY27, ₹2.01 Cr more than in Q1 FY26.^[2]
In Q1 FY27, 25% of support tickets were resolved without human help; certifications and refunds are fully automated.^[2]
In H1 FY26 the LawSikho Opportunity Portal had about 1.5 Lakh monthly active users.^[3]

Acquisition and sales operations

From April 2026 the company rebuilt its customer-acquisition engine around AI-assisted content directed by its own first-party data.^[4]
A custom platform deploys 50-100 landing pages and creatives per bootcamp. Deployment time fell from about three hours to ten minutes (FY26).^[4]
A co-founder took over sales execution and plans to set up a physical sales team in Indore (FY26).^[4]

Capex and investment

Investing outflow was ₹1.9 Cr in Q1 FY27, compared with ₹17.5 Cr in all of FY26; new product and tech building has largely stopped.^[2]
Amortisation is expected at about ₹4 - 4.5 Cr per quarter for the next 2 - 3 years (Q1 FY27 call).^[2]
As of Q1 FY27, ₹7.21 Cr of IPO proceeds was undeployed; the company will seek approval at the AGM to move it from acquisition use to general use.^[2]

International and new programmes

Pre-approval work is done for Arizona University of Management and Technology Inc. (FY26). Management plans to restart it around October - November 2026.^[4][2]
The US, UK and Canada markets were exited in FY25 after the financing partner Affirm stopped funding students.^[5]
Quantitative finance and algorithmic/HFT courses are being developed with IIT faculty, aimed at hiring demand from GCCs (FY26).^[4][2]
The FY26 loan stayed with the Singapore subsidiary because the US entity had not started operations.^[4]

Stated plans

Management is targeting ₹10 Cr/month in collections, with costs under ₹7 Cr, by December 2026.^[2]
Management plans 10 bootcamps per month by Q2 FY27 and 50% self-resolution of support tickets in that quarter.^[2]
The company becomes eligible to move to the Main Board from January 2027, and management is leaning towards doing so then.^[2]

Market Cap

₹64 Cr

High / Low

₹144 / 37

Stock P/E

-152.2

Price / Book

0.9

Book Value

₹49

EPS

₹-0.3

No. of Shares

1.59 Cr

ROCE

-0.1%

ROE

-0.6%

OPM

-0.1%

Debt / Equity

0.01

Sales

₹76 Cr

Net Profit

₹0 Cr

Promoter holding

64.0%

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