CRISIL Ltd logo

CRISIL Ltd

CRISIL NSE

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]

AI Verdict: HOLD Confidence: 6%

CRISIL offers a high-quality franchise with 27% 3-year ROE and consistent double-digit sales growth (10% CAGR over 10 years), but the stock trades at a steep 35.9x PE and 9.94x book value after a 28% correction in the past year. With 100% analyst sell ratings and limited upside catalysts at current valuations, patience is warranted.

Key Fundamentals

SmallcapRating ServicesFinancial Services
Market Cap
₹29,911 Cr
Volatility
Moderate
P/E Ratio
35.63
EBITDA
₹1,192 Cr
Return on Equity
30.08%
Debt to Equity
0.1
Book Value
₹414.8
EPS
₹88.88
52W High
₹6,139
52W Low
₹3,686

Technical Indicators

Key Insights

Strengths

2
  • Company has a good return on equity (ROE) track record: 3 Years ROE 27.0%
  • Company has been maintaining a healthy dividend payout of 59.0%

Weaknesses

1
  • Stock is trading at 9.85 times its book value

Growth Rate

Revenue Growth
12.13% ↗
Net Income Growth
11.97% ↗
Cash Flow Change
-1.24% ↘
ROE
-5.32% ↘
ROCE
-3.45% ↗
EBITDA Margin (Avg.)
6.23% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 3d ago
HOLD
Risk medium

CRISIL offers a high-quality franchise with 27% 3-year ROE and consistent double-digit sales growth (10% CAGR over 10 years), but the stock trades at a steep 35.9x PE and 9.94x book value after a 28% correction in the past year. With 100% analyst sell ratings and limited upside catalysts at current valuations, patience is warranted.

Bull Case 7
  • Exceptional return on equity track record with 3-year ROE of 27% and 5-year ROE of 28%, indicating superior capital efficiency
  • Consistent compounded sales growth of 10% over 10 years and TTM acceleration to 17%, showing resilient revenue momentum
  • Compounded profit growth of 19% TTM outpacing sales growth of 17% TTM, indicating margin expansion
  • Healthy dividend payout ratio of 59% demonstrates shareholder-friendly capital allocation policy
  • Market cap of Rs 29,925 Cr provides institutional-grade liquidity and index inclusion benefits
  • 10-year compounded profit CAGR of 10% demonstrates long-term earnings compounding ability through multiple cycles
  • 5-year compounded profit CAGR of 14% shows acceleration in earnings growth in recent years versus the 10-year average of 10%
Bear Case 8
  • Stock trades at 9.94x price-to-book value, far exceeding typical financial services valuations of 2-4x
  • 100% of analyst ratings (1 out of 1) recommend selling at current levels, signaling consensus overvaluation
  • Stock has declined 28% over the past 1 year, indicating significant negative momentum and possible de-rating
  • PE ratio of 35.9x is elevated for a financial services company with only 10% long-term profit CAGR
  • Dividend yield of just 0.22% offers negligible income support despite a 59% payout ratio, reflecting rich valuations
  • 3-year stock CAGR of only 3% versus 3-year profit CAGR of 7% suggests continued PE compression
  • Last year ROE declined to 24% from the 3-year average of 27%, suggesting potential margin pressure
  • 10-year stock CAGR of 7% barely matches profit growth of 10%, indicating persistent valuation headwinds for long-term holders

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 14h ago
Positives 1
  • TDS appeal win, INR 40Cr relief Jun 18

    CRISIL received a favourable order from CIT(A) for AY 2014-15 regarding TDS obligations, anticipating relief of INR 40.23 Crores.

Neutral 3
  • S&P confirms no share encumbrance Jun 9

    S&P Global declared no encumbrance on Crisil shares for the period ended March 31, 2026, under SEBI Takeover Regulations.

  • Analyst meet with Goldman Sachs Jun 1

    Crisil scheduled a virtual analyst meet with Goldman Sachs on June 4, 2026, using its latest corporate presentation.

  • Director Saugata Saha resigns May 27

    Saugata Saha resigns as Director from Crisil Board effective on or before July 30, 2026, to pursue another opportunity.

TL;DR: CRISIL has a quiet but mildly positive news cycle with a notable INR 40.23 Crore tax relief from a TDS appeal win. No material headwinds have emerged, and the parent S&P Global's clean shareholding disclosure reinforces governance stability. A board-level departure is worth monitoring but appears routine. The near-term outlook is steady with no visible deterioration in fundamentals.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
715
771
736
918
738
797
812
913
813
843
911
1,082
1,058
Expenses
511
567
544
649
546
591
588
626
581
604
648
742
739
Operating Profit
203
204
192
269
192
207
224
287
232
239
263
340
319
OPM %
28%
26%
26%
29%
26%
26%
28%
31%
29%
28%
29%
31%
30%
Other Income
17
18
36
36
21
18
21
30
31
24
37
27
36
Interest
1
1
1
1
1
1
1
2
6
6
6
5
7
Depreciation
26
26
26
25
17
16
16
21
30
32
32
35
39
PBT
194
195
200
279
195
208
229
294
227
225
262
327
308
Tax %
25%
23%
24%
25%
30%
28%
25%
24%
30%
24%
26%
26%
24%
Net Profit
146
151
152
210
138
150
172
225
160
172
193
242
233
EPS in Rs
19.94
20.6
20.79
28.74
18.84
20.53
23.46
30.72
21.86
23.46
26.41
33.02
31.9
Figures in ₹ Crores

Profit & Loss

  Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025TTM
Sales
1,253
1,380
1,548
1,658
1,748
1,732
1,982
2,301
2,769
3,140
3,260
3,649
3,893
Expenses
865
980
1,104
1,203
1,277
1,276
1,471
1,690
2,039
2,258
2,349
2,564
2,733
Operating Profit
389
400
443
455
471
456
511
611
730
882
911
1,085
1,160
OPM %
31%
29%
29%
27%
27%
26%
26%
27%
26%
28%
28%
30%
30%
Other Income
24
43
50
25
73
73
83
123
122
94
90
107
124
Interest
0
0
0
0
2
0
14
9
6
4
4
22
23
Depreciation
36
37
55
47
43
37
121
106
103
104
70
129
138
PBT
376
406
438
434
500
492
458
618
742
868
926
1,041
1,122
Tax %
29%
30%
33%
30%
27%
30%
23%
25%
24%
24%
26%
26%
—
Net Profit
268
285
294
304
363
344
355
466
564
658
684
766
839
EPS in Rs
37.62
40.04
41.26
42.46
50.35
47.57
48.87
63.92
77.25
90.06
93.54
105
115
Div. Payout %
53%
57%
65%
66%
60%
67%
68%
72%
62%
60%
60%
57%
—
Figures in ₹ Crores

Balance Sheet

  Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Equity Capital
7
7
7
7
7
7
7
7
7
7
7
7
Reserves
841
849
978
1,041
1,129
1,165
1,305
1,571
1,785
2,182
2,558
3,026
Borrowings
0
0
0
0
3
3
0
132
83
47
250
297
Other Liabilities
416
475
400
446
495
514
895
793
956
1,061
1,127
1,252
Total Liabilities
1,265
1,331
1,385
1,495
1,634
1,689
2,207
2,504
2,831
3,297
3,942
4,582
Fixed Assets
432
413
309
293
350
349
763
661
619
635
976
1,440
CWIP
0
3
4
13
7
12
14
5
14
31
55
30
Investments
375
383
465
525
477
453
476
645
683
1,056
1,454
1,180
Other Assets
458
532
607
663
800
875
955
1,193
1,515
1,576
1,457
1,932
Total Assets
1,265
1,331
1,385
1,495
1,634
1,689
2,207
2,504
2,831
3,297
3,942
4,582
Figures in ₹ Crores

Cash Flow

  Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Operating
265
270
279
291
379
446
500
403
456
780
765
756
Investing
-185
2
-19
-179
-64
-77
-300
-97
-59
-326
-387
-267
Financing
-112
-262
-227
-187
-203
-229
-265
-291
-368
-408
-442
-470
Net Cash Flow
-31
10
33
-75
111
140
-64
15
29
47
-64
18
Free Cash Flow
245
245
256
258
347
418
466
430
417
721
594
688
CFO/OP
100
100
98
101
116
130
122
98
93
116
118
96
Figures in ₹ Crores

Ratios

  Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Debtor Days
41
52
49
57
59
42
57
86
100
78
62
69
Cash Conversion Cycle
41
52
49
57
59
42
57
86
100
78
62
69
Working Capital Days
-46
-39
-7
2
-9
-27
-35
-18
0
-7
-31
5
ROCE %
48%
45%
45%
41%
45%
42%
37%
38%
41%
41%
34%
33%

Shareholding Pattern

As of Mar 2026
Promoters 66.64%
DIIs 12.61%
Public 12.31%
FIIs 7.18%
Others 1.26%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
67.05%
66.99%
66.92%
66.88%
66.79%
66.74%
66.72%
66.70%
66.69%
66.67%
66.66%
66.65%
66.65%
66.64%
66.64%
66.64%
66.64%
66.64%
66.64%
66.64%
66.64%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
7.25%
7.19%
7.20%
7.17%
7.22%
7.55%
7.69%
8.07%
7.82%
7.67%
7.18%
DIIs
11.45%
11.52%
5.56%
5.99%
6.60%
7.11%
12.69%
13.04%
13.16%
12.72%
13.09%
12.94%
12.96%
12.51%
12.71%
12.68%
12.38%
12.07%
12.18%
12.10%
12.61%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
12.46%
12.13%
12.23%
12.24%
12.23%
12.35%
12.36%
12.38%
12.12%
11.92%
11.93%
12.15%
12.13%
12.57%
12.33%
11.94%
12.12%
12.06%
12.19%
12.32%
12.31%
Others
9.04%
9.35%
15.28%
14.89%
14.37%
13.81%
8.23%
7.89%
8.04%
8.69%
1.06%
1.07%
1.06%
1.12%
1.10%
1.18%
1.16%
1.16%
1.18%
1.27%
1.26%
No. of Shareholders
31,945
34,980
42,911
44,208
46,670
52,585
54,162
54,551
47,276
42,125
43,145
46,428
49,675
58,612
57,736
56,843
62,095
68,832
74,565
81,642
81,755

Documents

1
Concall - Jul 2019 Jul 2019
2
Concall - Oct 2020 Oct 2020
3
Concall - Apr 2022 Apr 2022
4
Concall - Jul 2022 Jul 2022
5
Concall - Oct 2022 Oct 2022

Frequently Asked Questions about CRISIL Ltd

What does CRISIL Ltd do?
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]
Where is CRISIL Ltd (CRISIL) listed?
CRISIL Ltd is listed on the Indian stock exchanges. It is listed on NSE: CRISIL and BSE: 500092. You can view its live share price, financials, and ratios on Tapetide.
Which sector does CRISIL Ltd belong to?
CRISIL Ltd operates in the Financial Services sector within the Finance industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of CRISIL Ltd?
CRISIL Ltd has a market capitalisation of approximately ₹29910.91 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of CRISIL Ltd?
The Price-to-Earnings (PE) ratio of CRISIL Ltd is 35.63. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of CRISIL Ltd?
Over the past 52 weeks, CRISIL Ltd has traded between a low of ₹3,686 and a high of ₹6,139. This range helps investors understand the stock's price volatility and recent trading levels.
Does CRISIL Ltd pay dividends?
Yes, CRISIL Ltd has a dividend yield of 0.22%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of CRISIL Ltd?
CRISIL Ltd has a Return on Equity (ROE) of 30.08%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research CRISIL Ltd on Tapetide?
On Tapetide, you can view CRISIL Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

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]

Website crisil.com
CEO Mr. Amish P. Mehta
Employees 4,666
Listed 1995-06-28
Face Value ₹ 1
Issued Size 7,31,30,017

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