CRISIL Ltd

₹ 4,710 1.04%

07 Jan 4:01 p.m.

About

CRISIL Ltd is a globally diversified analytical Company providing ratings, research, risk and policy advisory services. CRISIL is India’s leading ratings agency and the foremost provider of high-end research to large banks and leading corporations.^[1]

Key Points

Ratings Business (28% of revenues)^[1]
India’s premier ratings agency having rated 35,000+ large and medium-scale entities.^[2]
This is the most profitable business of company and accounts for 51% of total profits while contributing only 28% of revenues.^[3]
The company separated its credit ratings business into a wholly owned subsidiary, CRISIL Ratings Ltd pursuant to changes in SEBI regulations.^[4]

Website BSE NSE

Market Cap ₹ 34,488 Cr.
Current Price ₹ 4,710
High / Low ₹ 6,330 / 3,894
Stock P/E 46.0
Book Value ₹ 385
Dividend Yield 0.53 %
ROCE 35.6 %
ROE 27.8 %
Face Value ₹ 1.00

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Pros

Company has a good return on equity (ROE) track record: 3 Years ROE 30.7%
Company has been maintaining a healthy dividend payout of 60.6%
Debtor days have improved from 79.9 to 61.6 days.

Cons

Stock is trading at 12.2 times its book value

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Financial Services Financial Services Finance Other Financial Services

Part of BSE 500 Nifty 500 BSE MidCap Nifty MNC BSE Allcap BSE Financial Services BSE 150 MidCap Index BSE 250 LargeMidCap Index BSE 400 MidSmallCap Index BSE Quality Index Nifty LargeMidcap 250 Nifty Midcap 150 Nifty MidSmallcap 400 Nifty Midcap150 Quality 50 Nifty 500 Multicap 50:25:25 Nifty Total Market Nifty500 Equal Weight Nifty500 LargeMidSmall Equal-Cap Weighted

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
	683	822	715	771	736	918	738	797	812	913	813	843	911
	531	606	511	567	544	649	546	591	588	626	581	604	648
Operating Profit	151	216	203	204	192	269	192	207	224	287	232	239	263
OPM %	22%	26%	28%	26%	26%	29%	26%	26%	28%	31%	29%	28%	29%
	65	18	17	18	36	36	21	18	21	30	31	24	37
Interest	2	1	1	1	1	1	1	1	1	2	6	6	6
Depreciation	26	26	26	26	26	25	17	16	16	21	30	32	32
Profit before tax	189	207	194	195	200	279	195	208	229	294	227	225	262
Tax %	22%	24%	25%	23%	24%	25%	30%	28%	25%	24%	30%	24%	26%
	148	158	146	151	152	210	138	150	172	225	160	172	193
EPS in Rs	20.24	21.63	19.94	20.60	20.79	28.74	18.84	20.53	23.46	30.72	21.86	23.46	26.41
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	TTM
	1,111	1,253	1,380	1,548	1,658	1,748	1,732	1,982	2,301	2,769	3,140	3,260	3,480
	750	865	980	1,104	1,203	1,277	1,276	1,471	1,690	2,039	2,258	2,349	2,459
Operating Profit	361	389	400	443	455	471	456	511	611	730	882	911	1,021
OPM %	32%	31%	29%	29%	27%	27%	26%	26%	27%	26%	28%	28%	29%
	103	24	43	50	25	73	73	83	123	122	94	90	121
Interest	0	0	0	0	0	2	0	14	9	6	4	4	19
Depreciation	38	36	37	55	47	43	37	121	106	103	104	70	114
Profit before tax	425	376	406	438	434	500	492	458	618	742	868	926	1,009
Tax %	30%	29%	30%	33%	30%	27%	30%	23%	25%	24%	24%	26%
	298	268	285	294	304	363	344	355	466	564	658	684	749
EPS in Rs	42.16	37.62	40.04	41.26	42.46	50.35	47.57	48.87	63.92	77.25	90.06	93.54	102.45
Dividend Payout %	45%	53%	57%	65%	66%	60%	67%	68%	72%	62%	60%	60%

Compounded Sales Growth
10 Years:	10%
5 Years:	13%
3 Years:	12%
TTM:	7%

Compounded Profit Growth
10 Years:	10%
5 Years:	14%
3 Years:	16%
TTM:	12%

Stock Price CAGR
10 Years:	9%
5 Years:	19%
3 Years:	17%
1 Year:	-21%

Return on Equity
10 Years:	30%
5 Years:	30%
3 Years:	31%
Last Year:	28%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Jun 2025
Equity Capital	7	7	7	7	7	7	7	7	7	7	7	7	7
Reserves	667	841	849	978	1,041	1,129	1,165	1,305	1,571	1,785	2,182	2,558	2,809
	0	0	0	0	0	3	3	0	132	83	47	250	298
	470	416	475	400	446	495	514	895	793	956	1,061	1,127	1,116
Total Liabilities	1,145	1,265	1,331	1,385	1,495	1,634	1,689	2,207	2,504	2,831	3,297	3,942	4,231
	449	432	413	309	293	350	349	763	661	619	635	976	1,085
CWIP	0	0	3	4	13	7	12	14	5	14	31	55	0
Investments	244	375	383	465	525	477	453	476	645	683	1,056	1,454	1,390
	451	458	532	607	663	800	875	955	1,193	1,515	1,576	1,457	1,755
Total Assets	1,145	1,265	1,331	1,385	1,495	1,634	1,689	2,207	2,504	2,831	3,297	3,942	4,231

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
	254	265	270	279	291	379	446	500	403	456	780	765
	-157	-185	2	-19	-179	-64	-77	-300	-97	-59	-326	-387
	-82	-112	-262	-227	-187	-203	-229	-265	-291	-368	-408	-442
Net Cash Flow	15	-31	10	33	-75	111	140	-64	15	29	47	-64

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Debtor Days	39	41	52	49	57	59	42	57	86	100	78	62
Inventory Days
Days Payable
Cash Conversion Cycle	39	41	52	49	57	59	42	57	86	100	78	62
Working Capital Days	-86	-46	-39	-7	2	-9	-27	-35	-18	0	-7	-36
ROCE %	60%	48%	45%	45%	41%	45%	42%	37%	38%	41%	41%	36%

Shareholding Pattern

Numbers in percentages

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
	66.70%	66.69%	66.67%	66.66%	66.65%	66.65%	66.64%	66.64%	66.64%	66.64%	66.64%	66.64%
	6.68%	6.90%	7.17%	7.25%	7.19%	7.20%	7.17%	7.22%	7.55%	7.69%	8.08%	7.81%
	13.03%	13.16%	13.18%	13.08%	12.92%	12.94%	12.49%	12.70%	12.69%	12.38%	12.06%	12.17%
	13.59%	13.27%	12.99%	13.01%	13.23%	13.21%	13.69%	13.43%	13.13%	13.28%	13.21%	13.37%
No. of Shareholders	54,551	47,276	42,125	43,145	46,428	49,675	58,612	57,736	56,843	62,095	68,832	74,565

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
	67.05%	66.69%	67.53%	67.24%	67.05%	66.79%	66.69%	66.65%	66.64%	66.64%
	6.00%	6.13%	5.76%	5.52%	6.71%	6.65%	6.90%	7.20%	7.69%	7.81%
	11.07%	12.48%	11.88%	12.15%	12.08%	7.00%	13.16%	12.94%	12.38%	12.17%
	15.88%	14.70%	14.83%	15.09%	14.16%	19.56%	13.27%	13.21%	13.28%	13.37%
No. of Shareholders	24,484	25,154	29,194	33,180	31,945	46,670	47,276	49,675	62,095	74,565

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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