CRISIL Ltd

CRISIL Ltd

₹ 5,120 2.52%
13 May 1:13 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]

  • Market Cap 37,441 Cr.
  • Current Price 5,120
  • High / Low 6,955 / 3,880
  • Stock P/E 53.0
  • Book Value 351
  • Dividend Yield 1.09 %
  • ROCE 35.6 %
  • ROE 27.8 %
  • Face Value 1.00

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 14.3 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
595 669 683 822 715 771 736 918 738 797 812 913 813
419 499 531 606 511 567 544 649 546 591 588 626 581
Operating Profit 176 169 151 216 203 204 192 269 192 207 224 287 232
OPM % 30% 25% 22% 26% 28% 26% 26% 29% 26% 26% 28% 31% 29%
20 35 65 18 17 18 36 36 21 18 21 30 31
Interest 2 2 2 1 1 1 1 1 1 1 1 2 6
Depreciation 25 26 26 26 26 26 26 25 17 16 16 21 30
Profit before tax 169 177 189 207 194 195 200 279 195 208 229 294 227
Tax % 28% 23% 22% 24% 25% 23% 24% 25% 30% 28% 25% 24% 30%
122 137 148 158 146 151 152 210 138 150 172 225 160
EPS in Rs 16.67 18.75 20.24 21.63 19.94 20.60 20.79 28.74 18.84 20.53 23.46 30.72 21.86
Raw PDF

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 3,335
750 865 980 1,104 1,203 1,277 1,276 1,471 1,690 2,039 2,258 2,349 2,386
Operating Profit 361 389 400 443 455 471 456 511 611 730 882 911 950
OPM % 32% 31% 29% 29% 27% 27% 26% 26% 27% 26% 28% 28% 28%
103 24 43 50 25 73 73 83 123 122 94 90 100
Interest 0 0 0 0 0 2 0 14 9 6 4 4 9
Depreciation 38 36 37 55 47 43 37 121 106 103 104 70 83
Profit before tax 425 376 406 438 434 500 492 458 618 742 868 926 958
Tax % 30% 29% 30% 33% 30% 27% 30% 23% 25% 24% 24% 26%
298 268 285 294 304 363 344 355 466 564 658 684 706
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 96.57
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: 5%
Compounded Profit Growth
10 Years: 10%
5 Years: 14%
3 Years: 16%
TTM: 9%
Stock Price CAGR
10 Years: 9%
5 Years: 27%
3 Years: 15%
1 Year: 18%
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
Equity Capital 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
0 0 0 0 0 3 3 0 132 83 47 250
470 416 475 400 446 495 514 895 793 956 1,061 1,127
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
449 432 413 309 293 350 349 763 661 619 635 976
CWIP 0 0 3 4 13 7 12 14 5 14 31 55
Investments 244 375 383 465 525 477 453 476 645 683 1,056 1,454
451 458 532 607 663 800 875 955 1,193 1,515 1,576 1,457
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

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 -8 -26 -35 -9 8 -5 -30
ROCE % 60% 48% 45% 45% 41% 45% 42% 37% 38% 41% 41% 36%

Shareholding Pattern

Numbers in percentages

Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
66.74% 66.72% 66.70% 66.69% 66.67% 66.66% 66.65% 66.65% 66.64% 66.64% 66.64% 66.64%
6.58% 6.69% 6.68% 6.90% 7.17% 7.25% 7.19% 7.20% 7.17% 7.22% 7.55% 7.69%
7.50% 13.10% 13.03% 13.16% 13.18% 13.08% 12.92% 12.94% 12.49% 12.70% 12.69% 12.38%
19.19% 13.50% 13.59% 13.27% 12.99% 13.01% 13.23% 13.21% 13.69% 13.43% 13.13% 13.28%
No. of Shareholders 52,58554,16254,55147,27642,12543,14546,42849,67558,61257,73656,84362,095

* 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.

Documents

Concalls