Western Overseas Study Abroad Limited · BSE:WOSAL
Western Overseas Study Abroad — Investor Presentation (August 2026)
33 slides from Western Overseas Study Abroad's investor presentation, Aug 31, 2026
Slide 1: Regulation 30 cover letter to BSE
Date: 31st August, 2026 To, The Manager Lis ng Compliance Department BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai 400 051 Scrip Code: 544636 Sub: Regula on 30 of the SEBI (Lis ng Obliga ons and Disclosure Requirements) Regula ons, 2015 Dear Sir / Madam, Pursuant to the provisions of Reg
Slide 2: Investors Presentation
BSE SME - LISTED COMPANY Investors Presentation
Slide 3: Disclaimer
Disclaimer This presentation and the accompanying slides (the Presentation), which have been prepared by Western Overseas Study Abroad Limited (WOSAL, The Company) solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securitie
Slide 4: About The Company
About The Company Western Overseas Study Abroad Limited one of the leading overseas education and immigration consultancy company headquartered in Ambala, Haryana. Established in 2013, the Company provides end-to-end solutions for students and professionals aspiring to study, work or settle abroad,
Slide 5: Key Facts & Figures
Key Facts & Figures 12+ 12 18+ ~150 79.38% Years Of Branch Destination Employees in FY26 in Visa Approval Experience Offices Countries Various Departments Rate ETS CTAS MEA ICEF AAERI Authorised Certified Registered Accredited Member Partner Test Centre Consultant Agency FY26 ₹2,027 Lakhs ₹456 Lakh
Slide 6: Company Journey — From Ambala Storefront To Listed Platform
Company Journey — From Ambala Storefront To Listed Platform • Awarded Best in IELTS-PTE-VISA • Appointed as Education Agent for (Punjab & Haryana) by the Education Algebra Bernays University, Croatia. Minister, Punjab. • Appointed as Recruitment Agent for • Appointed as Recruitment Agent for The Cen
Slide 7: Awards & Recognitions — External Validation Of The Franchise
Awards & Recognitions — External Validation Of The Franchise High Flyer International Membership TOEFL Powerhouse — Registration under Life member the Emigration Act, Champions 2025 Consultants for Registeration Haryana 2024 Recognition 1983 Education and Fairs Authorised TOEFL iBT Indian Personnel
Slide 8: Board & Leadership
Board & Leadership Mr. Pardeep Balyan Mrs. Rekha Rani Promoter & Managing Director Promoter & Whole-Time Director • On the Board since incorporation; 10+ years in • Co-founder; 10+ years in the immigration industry overseas education • Oversees operations across the branch network • Certified agent-
Slide 9: Business Model — One-Stop Study-Abroad Platform
Business Model — One-Stop Study-Abroad Platform Counselling Test Prep Exam Booking Admissions Financing Visa & Beyond IELTS, PTE, TOEFL, IELTS, PTE, TOEFL, Career & Destination CELPIP, DET, OET, and Loans & Visa Lodgement & CELPIP, DET, OET, and Guidance Language CERT Scholarships Processing Languag
Slide 10: Study-Abroad & Immigration Consultancy
Study-Abroad & Immigration Consultancy 2,563 79.38% 70.16% 18+ Visa-segment Enrolments (FY26) Visa Approval Rate (FY26) FY26 Revenue contribution Destination Countries Commission + Processing Fees Study Visa Work Visa & PR Tourist / Visitor Visa End-to-end compliance • University shortlisting & • Wo
Slide 11: Exam Booking & Allied Services: The Break-Out Growth Line
Exam Booking & Allied Services: The Break-Out Growth Line Exam Fee & Related Professional Services Revenue (₹ Lakhs) 942 ETS CTAS status (2025) Certified Test Administrator Service authorisation for internet-based tests — institutional-grade accreditation few regional rivals hold 610 502 Voucher Eco
Slide 12: Language Training & Test Preparation
Language Training & Test Preparation 5,947 1,546 4,401 2 Course & exam enrolments (FY26) Exam enrolments in FY26 alone Course enrolments in FY26 (FY26) Foreign Languages English Proficiency Test Foreign Languages Delivery Model Formats • IELTS — classroom & online batches • Advanced classrooms acros
Slide 13: Branch Network — Dense Coverage Of India's Study-Abroad Heartland
Branch Network — Dense Coverage Of India's Study-Abroad Heartland 5 4 1 1 1 Offices Offices Office Office Office Haryana Punjab Chandigarh Delhi Madhya Pradesh • Ambala • Amritsar • Chandigarh • Indore • New Delhi • Karnal • Jalandhar • Kurukshetra • Bathinda • Rohtak • Patiala • Sonipat 12 2,409 ~1
Slide 14: Global Partnerships, Accreditations & Memberships
Global Partnerships, Accreditations & Memberships ETS (Princeton, USA) TOEFL iBT authorised consultant; CTAS test administrator Algebra Bernays University, Croatia Pearson PTE Student-recruitment agreement + Highflyer partner — joint academic programs (Apr awarded 2025 & 2026 2026) across 10 territo
Slide 15: Operating KPIs — Client Funnel & Conversion
Operating KPIs — Client Funnel & Conversion Clients Serviced By Segment (Nos.) 79.38% Visa segment Course & exam segment FY26 visa approval rate 732 of 922 lodgements 5,947 84.6% Peak approval rate (FY24) consistently above 78% Visa Funnel (FY26) 3,696 Enrolments 2,024 2,563 Lodgements 922 2,229 2,0
Slide 16: Revenue - Country Wise From Top Destination Countries
Revenue - Country Wise From Top Destination Countries Foreign country-wise revenue from operations (₹ Lakhs) Canada 56% → 32% FY24 FY25 FY26 Share of visa clients, FY23 → FY25 — dependence 664 halved before the FY26 permit crunch 564 455 Europe Rising 363 Croatia agreement (Apr 2026) opens an EU pat
Slide 17: Revenue Mix — Diversified Across Service Lines
Revenue Mix — Diversified Across Service Lines FY26 Revenue By Service Line (₹2,027.45 Lakhs) Service-line Revenue (₹ Lakhs) FY24 FY25 FY26 30% Commission fees Exam booking fees & 1,528.3 Related Professional Fees 1,417.3 70% 1,330.9 FY26 Revenue By Destinations (₹2,027.45 Lakhs) UAE 589.9 600.0 22%
Slide 18: Brand & Marketing Engine — Category-Scale Visibility
Brand & Marketing Engine — Category-Scale Visibility IPO-funded Media Plan • ₹342.5 Lakhs allocated from IPO proceeds • Across Hoardings, Print Media, Radio, TV & Digital • Planned deployment across FY26–FY27 Out-of-home Density • 2,409 billboards across India • Enhances regional brand recall Digita
Slide 19: Competitive Strengths
Competitive Strengths Experienced & Knowledgeable Team • Trained coaching staff + immigration-law specialists • 79.38% visa approval rates in FY26 Customisation Expertise • Individualised application strategy per client profile • Referral-led acquisition keeps marketing costs low Technology Integrat
Slide 20: Business Strategies
Business Strategies Increase Technology Integration • ERP + iOS/Android apps under 12-month build • Digital branding to reach remote catchments Strategic Partnerships For More Services • Alliances with various foreign universities & Recruitment Partners • Croatia university agreement signed Apr 2026
Slide 21: India Outbound Education — Big, Structural, & Still Under-penetrated
India Outbound Education — Big, Structural, & Still Under-penetrated Indian Students Enrolled In Higher Education Abroad (Millions) Spent by ~850k indian students in the “big US$ 34 Bn four” destinations in 2023 — half tuition, half living costs (ICEF monitor) 2.50 Projected annual overseas-educatio
Slide 22: The Great Destination Shift — Demand Re-Routing, Not Disappearing
The Great Destination Shift — Demand Re-Routing, Not Disappearing Headwinds — Traditional Destinations Tailwinds — Rising Destinations Canada 9,955 UK +44% new study permits to Indians, Jan–Aug 2025 — down from surge in sponsored study-visa grants to Indians in Q2 2025; 149,875 in the same period of
Slide 23: India Education Macro — Policy And Demography Underwrite Demand
India Education Macro — Policy And Demography Underwrite Demand US$225 Bn 43.3 Mn Indian education market size by FY25 Students enrolled in Indian higher education — nearly doubling from US$117 Bn in (2021-22) — the pool from which aspirants FY20 (IBEF) graduate to global degrees (IBEF) 50% ₹1.21 La
Slide 24: WOSAL Positioned In The Sector — Mapping Trend To Capability
WOSAL Positioned In The Sector — Mapping Trend To Capability Industry Trend What It Means WOSAL's Play Students re-routing to UK, Germany, France, Ireland & new 18+ country coverage; German/French training; Croatia Destination Diversification EU markets (Algebra Bernays) agreement; Tighter visa regi
Slide 25: FY26 Results At A Glance — Audited, Standalone
FY26 Results At A Glance — Audited, Standalone ₹2,027.4 Lakhs ₹456.17 Lakhs ▲ 21.5% 22.4% ▲ +515 bps Revenue From Operations EBITDA EBITDA margin FY26 FY26 · vs ₹396.3 Lakhs (FY25) FY26 · vs 17.3% (FY25) ₹372.6 Lakhs ▲ 20.6% ₹272.8 Lakhs ▲ 23.4% 13.5% ▲ +375 bps Profit Before Tax Profit After Tax PA
Slide 26: Three Year Financial Trends — Profit Compounding Through The Cycle
Three Year Financial Trends — Profit Compounding Through The Cycle Revenue from operations (₹ Lakhs) EBITDA & PAT (₹ Lakhs) Margins (%) 2500 EBITDA PAT EBITDA margin PAT margin 2,273 456 2,030 2,027 22.4 2000 396 17.3 1500 273 13.5 240 221 11.8 9.7 1000 119 5.9 500 0 FY24 FY25 FY26 FY24 FY25 FY26 FY
Slide 27: Margin Expansion — Structural, Not One-off
Margin Expansion — Structural, Not One-off Cost Structure As % Of Total Income Employee costs Other expenses Finance + D&A Payroll Productivity Employee costs fell to ₹578 Lakhs (-25% YoY); revenue per employee rose as the exam-services mix scaled 49.4 49.4 Advertising Discipline Brand spend now lar
Slide 28: Consolidated Profit & Loss Summary & Cash Flow Highlights
Consolidated Profit & Loss Summary & Cash Flow Highlights (₹ Lakhs) Particulars FY24 FY25 FY26 Revenues 2,030.24 2,272.52 2,027.45 Other Income 6.42 22.45 7.07 Total Income 2,036.66 2,294.97 2,034.52 Raw Material Expenses 0.00 -10.06 -3.98 Employee Costs 931.45 774.50 577.62 Other Expenses 865.06 11
Slide 29: Consolidated Balance Sheet Summary
Consolidated Balance sheet Summary (₹ Lakhs) Equities & Liabilities FY24 FY25 FY26 Assets FY24 FY25 FY26 Equity 1.00 421.40 601.20 Non-Current Assets Reserves And Surplus 446.51 231.16 1252.27 Fixed assets 167.56 200.80 235.60 Total Equity 447.51 652.56 1853.47 Intangible Assets 0.00 2.39 21.94 Non-
Slide 30: Key Ratios
Key Ratios ROE (%) ROCE (%) PAT margin (%) 40.2 37.6 13.5 32.0 30.7 26.7 9.7 21.8 5.9 FY24 FY25 FY26 FY24 FY25 FY26 FY24 FY25 FY26 Debt / Equity (x) NAV per share (₹) Current ratio (x) 0.74 4.07 30.8 0.59 15.5 10.6 1.01 0.84 0.11 FY24 FY25 FY26 FY24 FY25 FY26 FY24 FY25 FY26 29 Investor Presentation
Slide 31: Stock Snapshot & Shareholding Pattern
Stock Snapshot & Shareholding Pattern Shareholding Pattern — 31 Mar 2026 ₹16.6 ₹54.9 / ₹13.8 30% Price 52-week High / Low BSE · 20 Aug 2026 Listed 11 Dec 2025 70% ₹9.98 Cr 4.3x / 0.63x Market Capitalisation P/E · P/B (FY26) 120 Aug 2026 on EPS ₹4.54 · NAV ₹30.8 Promoters Public Source: BSE 30 Invest
Slide 32: Investment Rationale
Investment Rationale Fortress Small Balance Sheet Net cash ₹289 Lakhs; LT debt-free; NAV ₹30.8/share; IPO capital still 31% undeployed (As on 30th June 2026) Structural Market 1.2 Mn+ Indians abroad; 2.5 Mn projected by CY30 — demand pauses, but does not disappear Aligned Promoters 70.09% promoter h
Slide 33: Thank You
Thank You Western Overseas Study Abroad Limited Kirin Advisors Private Limited SCF No. 27-28, Vikas Vihar, Ambala City — 134003, 713 B, Lodha Supremus II, Wagle Estate, Thane Haryana West, 400 604. Email: info@western-overseas.com Email: info@kirinadvisors.com Phone: +91-171-3500064 Phone: 022 4100
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