CRISIL
Crisil share price & financials
- Price
- ₹4,132
- Market cap
- ₹34.4k Cr
- Sector
- Financial Services
- Calls analysed
- 2
Crisil Limited Q4 FY26
What went well
- FY25 Revenues grew by 11.9% year-on-year, reflecting broad-based performance.
- Q1 FY26 Revenues increased by 30.1% year-on-year, with Profit after tax growing robustly by 45.9%.
- Research Analytics & Solutions (RAS) segment income grew 34.9% YoY to INR 735.6 crores in Q1 FY26, with margins expanding to 22.7%.
What to watch
- India's GDP growth could slow to 6.8% in FY27 (from 7.1% base case) if the West Asia conflict prolongs through April.
- Bond issuances declined by 12% year-on-year in Q1 2026, impacted by geopolitical uncertainties and hardened yields.
What Crisil Limited does
Crisil is a global, insights-driven analytics company, majority owned by S&P Global, that began in 1987 as India's first credit rating agency. It operates through two reported segments: Ratings Services, which assigns credit ratings on bank loans, bonds, debentures and other structured debt instruments and includes the Global Analytics Centre (GAC) supporting S&P Global Ratings' analytical and research work; and Research, Analytics and Solutions, which delivers research, benchmarking, risk and data-analytics solutions to banks, asset managers, corporates and governments through its Crisil Intelligence, Crisil Coalition Greenwich and Crisil Integral IQ businesses. Its workforce operates out of offices across India, the Americas, Europe, Asia-Pacific, Australia and the Middle East.
Segments
- Ratings Services
- Research, Analytics and Solutions
- Global workforce
- 5,081 employees
- Office network
- 26 offices worldwide (incl. Mumbai HQ, New York, London, Toronto, Dubai, Sydney, Singapore, Tokyo, Hangzhou, Bogota, Buenos Aires, Wroclaw)
- Client base
- 11,400+ clients
- Market outreach
- 40 countries
- Active ratings outstanding
- 7,200+ large and mid-scale corporates and financial institutions rated
- Cumulative ratings track record
- 35,000+ large and mid-scale corporates and financial institutions rated since 1987
Guidance record · Q1 FY26
what the last two calls moved 9 tracked 1 delivered 2 missed 6 open- India's GDP Growth delivered said Q4 FY25 Promised: 6.5% in Fiscal 2026 Q1 FY26: Achieved. FY26 GDP growth was reported as 7.6%, significantly exceeding the target of 6.5%.
- Repo Rate Cuts went quiet said Q4 FY25 Promised: at least two more 25 bps cuts in the rest of fiscal 2026 Q1 FY26: Not mentioned in the Q1 FY26 call. The context of hardened bond yields suggests rate cuts may be less likely than previously anticipated.
- Bank Credit Growth on track said Q4 FY25 Promised: 12%-13% in Fiscal 2026 Q1 FY26: On track. Bank credit growth was strong at 14.5% YoY as of February 2026, exceeding the target range early in the fiscal year.
All 9 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 27.5%, net profit up 25.6% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 812 | 913 | 813 | 843 | 911 +12% | 1,082 +19% | 1,058 +30% | 1,075 +28% |
| EBITDA | 224 | 287 | 232 | 239 | 263 +17% | 340 +18% | 319 +38% | 308 +29% |
| Net profit | 172 | 225 | 160 | 172 | 193 +12% | 242 +8% | 233 +46% | 216 +26% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −7.1% 1Y
1Y: ₹5,058 on 10 Sept 2025 → ₹4,697.9. High ₹5,086.2 (17 Sept 2025), low ₹3,705.9 (2 Apr 2026).
How the price took the results
close before → close after
- Q4 FY26
- −0.0%
- 20 Apr
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 7.8% a year over 2 years, FY23 to FY25. Operating margin widened to 29.4%.
| Year ending | FY23 | FY24 | FY25 |
|---|---|---|---|
| Revenue | ₹3.1k Cr | ₹3.3k Cr | ₹3.6k Cr |
| Operating profit | ₹868 Cr | ₹910 Cr | ₹1.1k Cr |
| Operating margin | 27.6% | 27.9% | 29.4% |
| Interest | ₹4 Cr | ₹5 Cr | ₹23 Cr |
| Depreciation | ₹103 Cr | ₹70 Cr | ₹129 Cr |
| Net profit | ₹659 Cr | ₹685 Cr | ₹767 Cr |
| Net margin | 21.0% | 21.0% | 21.0% |
| ROCE | 41.0% | 34.0% | 33.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Equity capital | ₹7 Cr | ₹7 Cr | ₹7 Cr | ₹7 Cr | ₹7 Cr | ₹7 Cr |
| Reserves | ₹1.3k Cr | ₹1.6k Cr | ₹1.8k Cr | ₹2.2k Cr | ₹2.6k Cr | ₹3.0k Cr |
| Borrowings | ₹0 Cr | ₹132 Cr | ₹83 Cr | ₹47 Cr | ₹250 Cr | ₹297 Cr |
| Other liabilities | ₹895 Cr | ₹793 Cr | ₹956 Cr | ₹1.1k Cr | ₹1.1k Cr | ₹1.3k Cr |
| Total liabilities | ₹2.2k Cr | ₹2.5k Cr | ₹2.8k Cr | ₹3.3k Cr | ₹3.9k Cr | ₹4.6k Cr |
| Fixed assets | ₹763 Cr | ₹661 Cr | ₹619 Cr | ₹635 Cr | ₹976 Cr | ₹1.4k Cr |
| Capital work in progress | ₹14 Cr | ₹5 Cr | ₹14 Cr | ₹31 Cr | ₹55 Cr | ₹30 Cr |
| Investments | ₹476 Cr | ₹645 Cr | ₹683 Cr | ₹1.1k Cr | ₹1.5k Cr | ₹1.2k Cr |
| Other assets | ₹955 Cr | ₹1.2k Cr | ₹1.5k Cr | ₹1.6k Cr | ₹1.5k Cr | ₹1.9k Cr |
| Total assets | ₹2.2k Cr | ₹2.5k Cr | ₹2.8k Cr | ₹3.3k Cr | ₹3.9k Cr | ₹4.6k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, FIIs trimmed −1.70 pp while DIIs added +0.89 pp. The shareholder count grew 29% to 88,482.
- Promoters
- 66.6%
- FIIs
- 6.4%
- DIIs
- 12.9%
- Public
- 14.0%
Since Jun 2025
- FIIs −1.70 pp
- DIIs +0.89 pp
- Public +0.81 pp
How it drifted, 12 quarters
Over this window the public went from 13.0% to 14.0% — +1.0 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 66.7%, FIIs 7.3%, DIIs 13.1%, Public 13.0%.Dec '23: Promoters 66.7%, FIIs 7.2%, DIIs 12.9%, Public 13.2%.Mar '24: Promoters 66.7%, FIIs 7.2%, DIIs 12.9%, Public 13.2%.Jun '24: Promoters 66.6%, FIIs 7.2%, DIIs 12.5%, Public 13.7%.Sep '24: Promoters 66.6%, FIIs 7.2%, DIIs 12.7%, Public 13.4%.Dec '24: Promoters 66.6%, FIIs 7.5%, DIIs 12.7%, Public 13.1%.Mar '25: Promoters 66.6%, FIIs 7.7%, DIIs 12.4%, Public 13.3%.Jun '25: Promoters 66.6%, FIIs 8.1%, DIIs 12.1%, Public 13.2%.Sep '25: Promoters 66.6%, FIIs 7.8%, DIIs 12.2%, Public 13.4%.Dec '25: Promoters 66.6%, FIIs 7.7%, DIIs 12.1%, Public 13.6%.Mar '26: Promoters 66.6%, FIIs 7.2%, DIIs 12.6%, Public 13.6%.Jun '26: Promoters 66.6%, FIIs 6.4%, DIIs 12.9%, Public 14.0%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- S&P Global Asian Holdings Pte. Ltd. newly disclosed 15.76% held
- SBI Midcap Fund Mutual fund newly disclosed 2.41% held
The same filing shows 0 holders trimming and 2 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Crisil Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| S And P India L L C | 42.68% | unchanged |
| S&P Global Asian Holdings Pte. Ltd. | 15.76% | newly disclosed |
| S And P International L L C | 8.20% | unchanged |
| Rekha Jhunjhunwala - 2 | 5.19% | unchanged |
| General Insurance Corporation Of India Insurer | 3.13% | unchanged |
| SBI Midcap Fund Mutual fund | 2.41% | newly disclosed |
| LICI Asm Non Par Insurer | 1.36% | unchanged |
| Kotak Large & Midcap Fund Mutual fund | 1.08% | unchanged |
| IHS Markit Healthcare Trustee Limited | 0.00% | unchanged |
| IHS Markit Holdings 2 Limited | 0.00% | unchanged |
| IHS Markit Holdings Limited | 0.00% | unchanged |
| IHS Markit Investments Limited | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in CRISIL
Filings to Aug 2026
0 new, 5 added, 1 trimmed, 0 sold out — net +0.02 L shares (+0.1%).
- Held by funds
- ₹940 Cr
- 9 schemes
- Biggest holder
- SBI Midcap Fund
- ₹820 Cr · 3.3% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| SBI Midcap Fund SBI Mutual Fund | ₹820 Cr | held | Aug '21 |
| HDFC Retirement Savings Fund - Equity Plan HDFC Mutual Fund | ₹57 Cr | held | Dec '22 |
| SBI Banking And Financial Services Fund SBI Mutual Fund | ₹40 Cr | held | Oct '24 |
| Nippon India ETF Nifty Midcap 150 Nippon India Mutual Fund | ₹11 Cr | +0.01 L | Jan '19 |
| Nippon India Nifty Midcap 150 Index Fund Nippon India Mutual Fund | ₹8 Cr | +0.00 L | Feb '21 |
| SBI Nifty Midcap 150 Index Fund SBI Mutual Fund | ₹4 Cr | +0.00 L | Oct '22 |
| Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund | ₹1 Cr | +0.00 L | Sep '24 |
| SBI Nifty 500 Index Fund SBI Mutual Fund | ₹0 Cr | −0.00 L | Sep '24 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
5 added, 1 trimmed — net +1,977 shares (+0.1%)
- Funds are sitting on
- +19%
- vs est. average cost
- Held by funds
- ₹940 Cr
- 9 schemes · ≈ 2.4% of the company
- Biggest holder
- SBI Midcap Fund
- ₹820 Cr · 3.3% of that fund
- Longest holder
- Nippon India ETF Nifty Midcap 150
- 7y 8m · since Jan '19
Shares held by these funds +29%
Aug '23 19.61 L shares Jul '26
All earnings calls (2)
Read the Q4 FY26 call →Learn to analyse Crisil Limited
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