CRISIL | Business Upturn

Grasim Industries reports outstanding borrowing of Rs 9,707.23 crore as of March 2026

Business Desk — Mon, 27 Apr 2026 13:52:30 +0000

Grasim Industries has disclosed its outstanding borrowing as ₹9,707.23 crore as of 31st March 2026, according to a recent filing. The company, identified as a Large Corporate under SEBI regulations, has maintained the highest credit rating of AAA/Stable from CRISIL, ICRA, and CARE during the previous financial year.

The disclosure was made in compliance with the SEBI Master Circular dated 15th October 2025, which mandates initial disclosures for entities recognised as Large Corporates. The company has confirmed its status under Chapter XII of the SEBI Master Circular.

In the event of a shortfall in the required borrowing under the framework, Grasim Industries has indicated that any fines will be paid to BSE Limited.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Crisil faces Rs 148.99 crore tax demand for FY 2022-23

Arunika Jain — Tue, 21 Apr 2026 17:17:23 +0000

Crisil Limited has received an assessment order from the Income Tax Authority for the financial year 2022-23 (assessment year 2023-24), proposing certain disallowances. The order, dated 21 April 2026, was issued under Section 143(3) read with Section 144B of the Income-tax Act.

The assessment order has resulted in a tax plus interest demand amounting to ₹148.99 crore. Despite this significant figure, Crisil has stated that there is no immediate impact on the company’s financial, operational, or other activities. The company has announced its intention to file an appeal against the order.

This development comes as part of the routine assessments conducted by the Income Tax Authority, which periodically reviews company filings to ensure compliance with tax regulations. Crisil, known for its financial services and ratings, is now preparing to address the proposed disallowances through the legal appeal process.

The company has not disclosed further details about the specific disallowances or the grounds on which it plans to contest the assessment order. However, the decision to appeal indicates Crisil’s confidence in its tax filing positions and its readiness to engage with the tax authorities to resolve the matter.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Aurionpro Solutions sees credit rating upgrade by CRISIL

Kinjal — Tue, 21 Apr 2026 09:54:52 +0000

Aurionpro Solutions has announced a significant upgrade in its credit ratings as communicated by CRISIL Ratings Limited. The company’s long-term rating has been upgraded to ‘Crisil A/Stable’ from ‘Crisil A-/Stable’, while the short-term rating has been elevated to ‘Crisil A1’ from ‘Crisil A2+’. This development reflects a positive outlook on the company’s financial stability and creditworthiness.

The revised ratings apply to Aurionpro Solutions‘ bank loan facilities, which have been enhanced to a total of ₹427 crore from the previous ₹218 crore. This enhancement and the subsequent rating upgrade are indicative of the company’s improved financial health and its ability to meet its financial obligations in a timely manner.

CRISIL Ratings, known for its rigorous analysis and surveillance of ratings, has stated that the ratings will be continuously monitored. The organisation retains the right to revise or withdraw the ratings based on new information or changes in circumstances that could impact the company’s credit profile.

The credit rating letter from CRISIL Ratings, dated April 21, 2026, will remain valid until March 31, 2027. After this period, a new rating letter will be required to maintain the validity of the ratings.

This upgrade is a testament to Aurionpro Solutions’ robust financial management and strategic initiatives aimed at strengthening its market position. The company continues to focus on enhancing its operational efficiencies and expanding its business horizons.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Central Bank of India maintains AA credit rating with stable outlook

Business Desk — Mon, 20 Apr 2026 10:58:09 +0000

Central Bank of India has reaffirmed its AA credit rating with a stable outlook from CRISIL as of 22nd January 2026. The rating was verified on the same date. Additionally, ICRA upgraded the bank’s credit rating to AA with a stable outlook on 9th June 2025, also verified on the same date.

The bank’s bond with ISIN INE483A08049 was listed on the BSE on 1st September 2023, following its allotment on 30th August 2023. The bond issue was part of a first issue with a quantity of 1500.

The bank has ensured timely payment of all interest and redemption amounts for its non-convertible debentures (NCDs) during the financial year 2025-26, as per Regulation 57(1) of SEBI’s Listing Obligations and Disclosure Requirements. There have been no defaults or delays in servicing any other debt security issued by the bank.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Canara Bank reports reaffirmed AAA ratings for multiple bonds in FY 2025-26

Yash Agarwal — Fri, 17 Apr 2026 11:53:00 +0000

Canara Bank has released its annual disclosure of outstanding bonds for the financial year ending 31 March 2026, highlighting the reaffirmation of credit ratings for several non-convertible securities. The ratings, provided by reputable agencies such as CRISIL, ICRA, and CARE, consistently reflect a stable outlook.

The bank’s bonds, identified by their International Securities Identification Numbers (ISINs), have been rated primarily as AAA with a stable outlook, indicating a high degree of safety regarding timely servicing of financial obligations. Notably, the ISINs INE476A08050, INE476A08191, and INE476A08209 have been reaffirmed with a AAA rating by CRISIL and CARE, with verification dates ranging from February to March 2026.

Additionally, the bank’s bonds issued in FY 2025-26, such as INE476A08266 and INE476A08274, received new AAA ratings from ICRA and India Rating & Research, respectively. These ratings were verified in March 2026, underscoring the bank’s robust financial standing and creditworthiness.

The disclosure also includes listing details of the bonds on the National Stock Exchange (NSE), with quantities ranging from 1,000 to 1,000,000 units, all issued as first issues. The most recent bond, INE476A08274, was issued on 27 February 2026 and listed on 2 March 2026, with a quantity of 5,000 units.

Canara Bank’s consistent AAA ratings across multiple bonds reflect its strong financial health and ability to meet its debt obligations. The bank has ensured transparency by providing a hyperlink to the NSE’s exchange communication circulars for further verification of the listing notifications.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Crisil reports 30.1% rise in income from operations for Q1 FY26

Yash Agarwal — Fri, 17 Apr 2026 07:11:11 +0000

Crisil Limited has announced a significant increase in its financial performance for the first quarter of the fiscal year 2026, with income from operations rising by 30.1% to ₹1,057.7 crore. This compares favourably to ₹813.2 crore in the corresponding quarter of the previous year.

The company’s consolidated total income for the quarter also saw an increase of 29.6%, reaching ₹1,093.7 crore compared to ₹843.8 crore in the same period last year. Profit before tax (PBT) rose by 35.7% to ₹308.4 crore, up from ₹227.3 crore in the previous year’s corresponding quarter. Profit after tax (PAT) increased by 45.9% to ₹233.3 crore, compared to ₹159.8 crore in the same quarter last year.

A favourable foreign exchange movement contributed to Crisil‘s PBT earnings, with a gain of ₹14.4 crore in Q1 FY26, contrasting with a loss of ₹5.2 crore in the same period in 2025. The company declared an interim dividend of ₹9 per share.

Amish Mehta, Managing Director and CEO of Crisil, highlighted the company’s growth driven by customer-centric and domain-led solutions amidst ongoing geopolitical issues. He noted the resilience of the Indian economy and Crisil’s focus on increasing market share in core markets, expanding into new client segments and geographies, and investing in generative artificial intelligence (GenAI), digitalisation, and future-ready talent.

Crisil expects India’s GDP to grow at 7.1% in the base case for this fiscal, with potential downside risks that could slow growth to 6.8% if geopolitical conflicts persist. The company noted a 12% year-on-year decline in corporate bond issuance by volume in Q1 FY26, while bank credit increased by 14.5% as of February 2026.

Crisil Ratings maintained its leadership position with an 18.9% revenue growth in Q1 FY26. The Global Analytics Center expanded its support to S&P Global Ratings, contributing to a 20.2% growth in the ratings segment revenue. The Research, Analytics and Solutions segment saw a 34.9% revenue increase year-on-year in Q1 FY26.

Crisil’s strategic initiatives, including the launch of Crisil i360, a unified intelligence platform, and investments in GenAI solutions, have enhanced client experience and operational efficiency. The company received industry recognition as a Category Leader in AI Governance Solutions by Chartis Research and as a ‘Market Disruptor’ in Financial Crime and Compliance.

Crisil Foundation continued its community impact through programmes like Mein Pragati and Crisil RE, with significant outreach and environmental initiatives.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

CRISIL Q1 CY26 Results: Net profit jumps 46% YoY to Rs 233.26 crore, revenue up 30.1%

Aman Shukla — Fri, 17 Apr 2026 06:50:59 +0000

CRISIL reported a strong performance for Q1 CY26, delivering robust growth across key financial metrics on a year-on-year basis. The company’s net profit rose sharply by 46% to ₹233.3 crore compared to ₹160 crore in Q1 CY25, driven by solid operational momentum.

Revenue for the quarter increased 30% YoY to ₹1,058 crore from ₹813.2 crore, reflecting steady demand across its core segments. Operating performance also remained strong, with EBITDA rising 37.3% to ₹318.6 crore versus ₹232 crore in the same period last year.

Margins improved further, with EBITDA margin expanding to 30.1% from 28.5% YoY, indicating better cost efficiencies and improved profitability.

Adding to shareholder returns, the company has announced its first interim dividend of ₹9 per share.

In the meantime, CRISIL shares surged around 5% in intraday trade as of 12:26 PM, reacting positively to its strong Q1 CY26 performance. The stock touched a high of ₹4,342.00 and a low of ₹4,103.50 during the session, indicating firm buying interest. It opened at ₹4,126.10, slightly below its previous close of ₹4,126.30. Despite being below its 52-week high of ₹6,139.00, the stock remains well above its 52-week low of ₹3,686.00.

Bank of Baroda reports issuance of 1 million non-convertible securities in March 2026

Kinjal — Fri, 10 Apr 2026 10:02:02 +0000

Bank of Baroda has disclosed the issuance of 1,000,000 non-convertible securities as of 31 March 2026. The securities were allotted on 5 March 2026 and listed on both the BSE and NSE on 6 March 2026.

The bank provided a comprehensive annual disclosure of its non-convertible securities, detailing the listing and record dates, interest payment schedules, and credit ratings. Among the securities listed, the most significant issuance was the 1 million securities in March, marking a notable entry in their financial activities.

The disclosure included a hyperlink for the ‘Listing Notification by stock exchange’, allowing stakeholders to access the final approval details directly from the BSE and NSE websites.

Additionally, the bank outlined the record dates for interest payments and redemption, along with the respective payment dates. This ensures transparency and timely communication with investors regarding their returns.

In terms of credit ratings, the bank’s securities maintained strong ratings, with several reaffirmed as AAA with a stable outlook by credit rating agencies such as CareEdge, CRISIL, and ICRA. These ratings were verified as of late February 2026, reflecting the bank’s robust financial standing and creditworthiness.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Fortis Healthcare reports credit rating upgrade to CRISIL AA+

Business Desk — Fri, 10 Apr 2026 07:16:06 +0000

Fortis Healthcare Limited has announced a significant upgrade in its credit rating, as detailed in its recent regulatory filing. The company’s non-convertible debentures have been upgraded to a CRISIL AA+ rating with a stable outlook, reflecting the company’s improved financial health and operational stability.

The upgrade was confirmed by CRISIL on 1st September 2025, with verification completed by 16th December 2025. This new rating applies to several of Fortis Healthcare‘s debentures, including those with ISINs INE061F07044, INE061F07051, and INE061F07069, which were previously rated CRISIL AA. The updated ISINs for these debentures are INE061F08018, INE061F08026, and INE061F08034, respectively.

The company’s previous ratings were assigned on 1st October 2024, with verification dates in October 2024. The earlier ratings were also verified by CRISIL, indicating consistent monitoring of Fortis Healthcare’s creditworthiness.

In addition to the credit rating upgrade, Fortis Healthcare has confirmed that interest payments on these debentures have been made. The interest amounts paid were ₹406,398,027, ₹427,787,397, and ₹470,566,137 for the respective debentures, with payments made annually.

This development is a positive indicator of Fortis Healthcare’s financial trajectory and its ability to meet its debt obligations, which could potentially lead to increased investor confidence.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Canara Bank reports ₹20,500 crore in outstanding bonds as of March 2026

Arunika Jain — Thu, 09 Apr 2026 14:07:02 +0000

Canara Bank has released its half-yearly statement of debt securities, revealing a total of ₹20,500 crore in outstanding bonds as of 31 March 2026. The statement, in compliance with SEBI‘s updated circulars, provides detailed information on the bank’s bond issuances and their current status.

The bank’s outstanding bonds include various instruments with different maturity dates and coupon rates. Notably, the perpetual bonds issued on 4 March 2022, with a call option in the financial year 2026-2027, have a coupon rate of 8.07% and an outstanding amount of ₹1,000 crore. Another significant issuance is the bond dated 27 April 2016, maturing on 27 April 2026, with a coupon rate of 8.40% and an outstanding amount of ₹3,000 crore.

Additionally, Canara Bank‘s bonds issued on 19 July 2022, with a call option in the financial year 2027-2028, carry a coupon rate of 8.24% and have an outstanding amount of ₹2,000 crore. The bank also has bonds maturing on 26 August 2032, with a call option in 2027, offering a coupon rate of 7.48% and an outstanding amount of ₹2,000 crore.

The credit ratings for these bonds vary, with several rated as AA+/Stable by CRISIL and IND AA+/Stable by India Ratings, indicating a stable outlook. Some bonds also hold an AAA/Stable rating from CRISIL, ICRA, and other agencies, reflecting high credit quality.

This comprehensive disclosure ensures transparency and provides stakeholders with critical insights into the bank’s debt obligations and financial health.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Crisil faces Rs 27.24 crore TDS demand for FY 2019-20

Arunika Jain — Mon, 30 Mar 2026 08:00:40 +0000

Crisil Limited has received a Tax Deducted at Source (TDS) proceedings order for the financial year 2019-20, amounting to a demand of ₹27.24 crore. The order, dated 29th March 2026, was issued under sections 201(1) and 201(1A) read with section 195 of the Income Tax Act.

The demand pertains to TDS on foreign payments and is based on previous years’ orders on the same issue. Crisil has already filed an appeal against these earlier orders with the Hon’ble Commissioner of Income Tax (Appeals).

Despite the significant demand, Crisil has indicated that there will be no immediate impact on its financial, operational, or other activities. The company plans to file an appeal against the current TDS proceedings order as well.

The proceedings were initiated by the Income Tax Authority‘s TDS department, and Crisil has been actively engaging with the legal process to address the issue.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Crisil faces ₹121.20 crore demand following tax re-assessment

Arunika Jain — Tue, 24 Mar 2026 14:40:28 +0000

Crisil Limited has received a re-assessment order from the Income Tax Authority, resulting in a demand of ₹121.20 crore. The order, issued on 23 March 2026, pertains to the financial year 2016-17 and involves Crisil‘s merged subsidiaries.

According to the re-assessment order under section 147, the Assessing Officer (AO) initially agreed that there was no escapement of income from tax, as the subsidiaries’ income had already been merged with Crisil’s income and offered for tax. However, the AO erroneously computed the tax by making unwarranted additions and not giving credit for taxes already paid, leading to an incorrect demand order.

Despite the demand, Crisil has stated that there is no immediate impact on its financial, operational, or other activities. The company plans to file a rectification application and an appeal against the order to address the discrepancies identified.

This development is part of Crisil’s ongoing engagement with tax authorities to resolve the issue amicably. The company remains committed to ensuring compliance with all regulatory requirements while protecting its financial interests.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

WeWork India secures CRISIL A+/Stable rating for Rs 800 crore bank facilities

Business Desk — Thu, 12 Mar 2026 10:52:06 +0000

WeWork India Management Limited has received a CRISIL A+/Stable rating for its Rs 800 crore bank facilities, reflecting its robust market position and financial health.

The rating, assigned by CRISIL Ratings, covers both long-term and short-term bank facilities, with the latter receiving a CRISIL A1 rating. This assessment underscores WeWork India‘s strong foothold in the flexible workspace sector, supported by a diverse clientele and sound operational performance. As of December 2025, the company operates 73 centres with over 1,21,600 desks across 8.2 million square feet in eight major Indian cities, maintaining an occupancy level of 84%. CRISIL anticipates a 15–20% growth in operating income over the medium term, driven by annual capacity additions of 20,000–30,000 desks and stable occupancy levels.

WeWork India serves over 2,000 tenants, with 60% comprising Fortune 500 companies and large enterprises across various sectors. The company has recorded a revenue growth at a CAGR of 25% between FY2022 and FY2025, with tenant renewal rates at approximately 75%. Karan Virwani, Managing Director & CEO, highlighted the rating as a significant milestone, reflecting the strength and resilience of WeWork India’s business model.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

CRISIL shares jump over 2% after announcing $38 million acquisition of McKinsey’s PriceMetrix

Aman Shukla — Thu, 25 Sep 2025 03:45:57 +0000

CRISIL Limited saw its shares climb more than 2% in early morning trade on Thursday after the company announced that it will acquire McKinsey PriceMetrix Co., a Canada-based software solutions provider for wealth management firms, in an all-cash deal valued at USD 38 million (around ₹335 crore).

The board of directors of CRISIL approved the acquisition of 100% equity in PriceMetrix through its step-down subsidiary CRISIL Canada Inc., which is held via CRISIL Irevna UK Limited. The deal remains subject to customary closing conditions and is expected to be completed within 180 days.

PriceMetrix, founded in 2000 and headquartered in Toronto, specializes in benchmarking analytics, pricing intelligence, and practice management solutions for wealth management firms and financial advisors. The company’s services help optimize pricing, improve client engagement, and enhance overall business performance. It also conducts industry surveys for the North American wealth management sector.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.

CRISIL board declares second interim dividend of Rs 9 per share

Aman Shukla — Tue, 22 Jul 2025 07:25:29 +0000

CRISIL Ltd. has announced a second interim dividend of ₹9 per equity share for the financial year 2025. The company’s Board of Directors approved the dividend at its recent meeting. This payout is applicable on shares having a face value of ₹1 each.

The dividend will be credited or dispatched to eligible shareholders on or after August 8, 2025. The record date to determine the eligibility for this dividend has already been fixed in line with regulatory norms.

CRISIL Q1 Results

Crisil Limited reported a 5.7% year-on-year jump in revenue from operations to ₹843.02 crore, compared to ₹797.35 crore in Q1 FY25. Including other income, total income stood at ₹866.55 crore, up from ₹815.44 crore a year earlier.

Total expenses rose to ₹641.58 crore, mainly due to increased employee costs and higher professional fees, reflecting the company’s continued focus on talent and technology investments. Yet, profit before tax rose to ₹224.97 crore, from ₹207.96 crore in the previous year. Net profit surged nearly 14% to ₹171.57 crore, against ₹150.11 crore in Q1 FY25.

Crisil Q1 Results: Revenue up 5.7% YoY to Rs 843 crore, Net Profit up 14% YoY

Aditya Bhagchandani — Tue, 22 Jul 2025 07:08:38 +0000

Crisil Limited reported its consolidated financial results for the quarter ended June 30, 2025 (Q1 FY26), showcasing a healthy performance despite a challenging environment. The company’s revenue from operations stood at ₹843.02 crore in Q1 FY26, marking an increase of approximately 5.7% from ₹797.35 crore in the same quarter of the previous financial year. Including other income of ₹23.53 crore, the total income for the quarter reached ₹866.55 crore, up from ₹815.44 crore in Q1 FY25.

On the expense front, Crisil incurred total expenses of ₹641.58 crore in Q1 FY26, slightly higher than ₹607.48 crore in the year-ago period. The rise in expenses was primarily due to higher employee costs and professional fees, reflecting continued investments in talent and technology. Despite the increase in expenses, profit before tax (PBT) grew to ₹224.97 crore, compared to ₹207.96 crore last year. After accounting for tax expenses of ₹53.40 crore, the company’s net profit (PAT) for the quarter came in at ₹171.57 crore, which is about 14% higher than the ₹150.11 crore reported in Q1 FY25.

Crisil’s performance underscores its strong business fundamentals and resilience, with growth driven by its diversified revenue streams and operational efficiencies. The company continues to invest in strategic initiatives while maintaining profitability and strengthening its market position.

Key Financial Highlights: Crisil Q1 FY26 vs Q1 FY25

Particulars	Q1 FY26 (₹ crore)	Q4 FY25 (₹ crore)	Q1 FY25 (₹ crore)
Revenue from Operations	843.02	813.18	797.35
Other Income	23.53	30.59	18.09
Total Income	866.55	843.77	815.44
Total Expenses	641.58	616.50	607.48
Profit Before Tax (PBT)	224.97	227.27	207.96
Tax Expenses	53.40	67.43	57.85
Net Profit (PAT)	171.57	159.84	150.11

Crisil has managed to sustain its growth trajectory in Q1 FY26, delivering both top-line and bottom-line improvements year-on-year. The rise in revenue and profit highlights the company’s ability to navigate market headwinds while investing in future-ready capabilities.

Crisil shares drop over 8% as Q3 revenue declines

Aman Shukla — Tue, 11 Feb 2025 04:34:08 +0000

Crisil Limited, a subsidiary of S&P Global, faced a sharp decline in its stock price, dropping over 8% after reporting a slight dip in Q3 FY25 revenue. Despite strong profitability growth, investor sentiment appeared cautious due to muted revenue performance in certain segments. As of 10:02 AM, the shares were trading trading 8.22% lower at Rs 4,689.25.

For the quarter, Crisil reported income from operations at ₹912.91 crore, reflecting a marginal 0.5% decline year-on-year. Total income stood at ₹943.15 crore, down 0.8% compared to the previous year. However, profit before tax saw a healthy 5.6% rise to ₹294.49 crore, while net profit jumped 7.03% to ₹224.69 crore. The company declared a final dividend of ₹26 per share, bringing the total dividend for FY25 to ₹56 per share.

For the full year, Crisil recorded consolidated revenue of ₹3,259.78 crore, marking a 3.8% increase, with total income rising 3.6% to ₹3,349.42 crore. Profit before tax also grew by 6.8% to ₹926.47 crore. The Ratings Services segment saw strong growth, with Q3 revenue surging 21.1% year-on-year. However, the Research, Analytics, and Solutions division witnessed a 6.9% revenue decline in the quarter.

CRISIL shares opened at ₹5,070 and hit a high of ₹5,119.10 before dipping to a low of ₹4,662.05. The stock remains volatile, with a 52-week high of ₹6,950 and a low of ₹3,880.

Crisil Q3 Results: Revenue down 0.5% to Rs 912.91 crore, Net Profit up 7.03% YoY

Aditya Bhagchandani — Mon, 10 Feb 2025 14:30:04 +0000

Crisil Limited, a subsidiary of S&P Global, has announced its audited financial results for Q3 FY25, reflecting a mixed performance across its revenue and profitability metrics.

Key Financial Highlights:

Income from operations: Rs 912.91 crore, a 0.5% decline YoY from Rs 917.74 crore in Q3 FY24.
Total income: Rs 943.15 crore, down 0.8% YoY from Rs 951.0 crore in Q3 FY24.
Profit before tax (PBT): Rs 294.49 crore, an increase of 5.6% YoY from Rs 278.81 crore in Q3 FY24.
Final dividend: Rs 26 per share declared, taking the total dividend for FY25 to Rs 56 per share, compared to Rs 54 per share in the previous year.
Net Profit of Period – Rs 224.69 crore, up 7.03% YoY from Rs 210.12 crore

Full-Year FY25 Highlights:

Consolidated revenue: Rs 3,259.78 crore, reflecting a growth of 3.8% YoY from Rs 3,139.52 crore in FY24.
Total income: Rs 3,349.42 crore, marking a 3.6% increase YoY from Rs 3,233.16 crore.
Profit before tax (PBT): Rs 926.47 crore, a 6.8% increase from Rs 867.70 crore in FY24.

Segment Performance:

Ratings Services:
- Q3 revenue: Rs 253.86 crore, up 21.1% YoY.
- Full-year FY25 revenue: Rs 909.15 crore, reflecting a 17.4% increase YoY.
Research, Analytics, and Solutions:
- Q3 revenue: Rs 659.05 crore, down 6.9% YoY.
- Full-year FY25 revenue: Rs 2,350.63 crore, a slight dip of 0.7% YoY.

Business Highlights:

Strategic brand transformation: Crisil has consolidated its various business units under a unified brand identity to enhance its global client offerings.
New growth areas: The Crisil Global Analytics Center (GAC) saw increased demand for surveillance and analytics from S&P Global Ratings.
ESG Ratings Business: Crisil’s Board of Directors approved the transfer of its ESG business to a newly formed step-down subsidiary.

Outlook and Commentary:

Amish Mehta, Managing Director & CEO of Crisil, emphasized the organization’s focus on aligning its growth with India’s long-term economic prospects. The company expects India’s GDP to grow at 6.5% in the next fiscal, driven by easing inflation and lower interest rates.

The board highlighted continued growth in bond issuances and an uptick in corporate ratings. However, the research segment faced headwinds due to discretionary spending cuts by global clients.

Dividend and Shareholder Returns:

Crisil declared a final dividend of Rs 26 per share, bringing the total dividend for FY25 to Rs 56 per share, reinforcing its commitment to shareholder returns.

Conclusion:

Crisil’s performance demonstrates resilience amidst external challenges. The company’s strategic brand restructuring, focus on emerging market needs, and steady growth in ratings services position it well for sustainable long-term growth.

Crisil unveils new brand identity, embracing a progressive vision for the future

Matrika Shukla — Thu, 09 Jan 2025 12:12:51 +0000

Crisil Limited, a leading global analytics and ratings company, has unveiled a new brand identity as part of its strategic transformation. The rebranding sees the company simplify its name to “Crisil” (from the earlier all-uppercase “CRISIL”) and adopt a fresh logo that symbolizes its progressive vision and enduring commitment to empowering mission-critical decisions with confidence.

The redesigned logo features bold black lettering to signify excellence and reliability, complemented by teal-accented business logos to convey trust and expertise. The move underscores Crisil’s evolution into a more cohesive, client-centric organization while honoring its legacy of nearly four decades.

The new brand aligns Crisil’s diverse businesses — Crisil Ratings, Crisil Intelligence (formerly MI&A), Crisil Coalition Greenwich, and Crisil Integral IQ (formerly GR&RS) — under a unified identity. The aim is to provide a consistent and connected experience to clients globally.

Amish Mehta, Managing Director and CEO of Crisil remarked, “Our reimagined brand expresses a more progressive vision of our future. It celebrates a pioneering and illustrious past while showcasing our commitment to delivering actionable insights to clients. Our people’s analytical rigor and domain expertise will continue to set standards and empower clients to make mission-critical decisions with confidence.”

Crisil’s rebranding reflects its comprehensive expertise in risk assessment, data analytics, and research. Key offerings include:

Crisil Ratings: Independent credit ratings that drive informed decisions for lenders, investors, and issuers in India.
Crisil Intelligence: Advanced data analytics, consulting, and risk solutions for enterprises and governments worldwide.
Crisil Coalition Greenwich: Benchmarking and actionable insights tailored to the financial services industry.
Crisil Integral IQ: Strategic intelligence to optimize risk and drive operational excellence for financial institutions globally.

Headquartered in Mumbai, Crisil’s influence spans the Americas, Asia-Pacific, Europe, Australia, and the Middle East. Majority-owned by S&P Global, Crisil continues to be a trusted partner for businesses seeking reliable insights to turn risks into opportunities.

CRISIL shares surge 5% after company reports strong Q3 CY24 performance

Aman Shukla — Thu, 17 Oct 2024 03:46:23 +0000

CRISIL shares gained over 5% in early trade as the company reported good financial results for Q3 CY24. Consolidated revenue increased by 10.3% year on year to ₹811.8 crore, led by strong performance in ratings services, research, analytics and solutions.

The company’s PBT climbed by 14.1% to ₹228.5 crore, while net profit increased to ₹171.55 crore, demonstrating stability and strategic expansion in key areas.

As of 9:16 am, CRISIL shares were trading 4.50% higher at Rs 5008.85 on the NSE.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.

Stock to Watch: CRISIL reports strong Q3 CY24 performance with 10.3% revenue growth and robust profit

Aditya Bhagchandani — Wed, 16 Oct 2024 18:21:00 +0000

CRISIL Limited has reported impressive financial results for Q3 CY24, with consolidated revenue increasing by 10.3% year-on-year to ₹811.8 crore, driven by strong performance in ratings services and research, analytics, and solutions. The company’s Profit Before Tax (PBT) grew by 14.1% to ₹228.5 crore, and net profit increased to ₹171.55 crore, highlighting its resilience and strategic growth across core businesses.

CRISIL’s continued investment in technology, including AI solutions, and its strong market position ensure it remains a leader in the ratings and analytics industry, making it a stock to watch.

Stocks to Watch on October 17 2024: L&T Tech, Bajaj Auto, CRISIL, RailTel, Bikaji, Reliance and more

Aditya Bhagchandani — Wed, 16 Oct 2024 18:02:00 +0000

At market close on October 16, 2024, the Sensex was down 318.76 points or 0.39%, closing at 81,501.36, while the Nifty fell 86 points or 0.34%, closing at 24,971.30.

On the Nifty, top losers included Trent, M&M, Hero MotoCorp, Infosys, and Adani Ports, while gainers were HDFC Life, Dr. Reddy’s Labs, Grasim Industries, Bharti Airtel, and HDFC Bank.

Among sectors, the oil & gas, realty, and telecom indices ended in the green, offering some support amidst the broader market decline.

The intense FII selling pressure throughout October has led to significant market corrections, with concerns about global economic conditions contributing to increased volatility. DIIs, however, continue to offer some stability with their consistent buying activity.

Here are some stocks to watch –

L&T Tech Q2 Results: Revenue up 8% YoY to Rs 2,573 crore, net profit at Rs 319.6 crore

Bajaj Auto Q2 FY25: Revenue up 22% YoY at ₹13,127 crore, Net Profit rises 9% YoY to ₹2,005 crore

CRISIL Reports 10.3% Revenue Growth to ₹811.8 Crore, Net Profit Rises to ₹171.55 Crore in Q3 CY24

Bikaji Foods to Invest ₹131.01 Crore for a 53.02% Stake in The Hazelnut Factory

Ultratech Cement commissions additional 1.2 mtpa grinding capacity in Tamil Nadu

BlackRock and Jio Financial in talks for 50-50 credit venture: Report

Rail Vikas Nigam Limited (RVNL) emerges as lowest bidder for ₹270 crore metro project in Maharashtra

RailTel Corporation bags order worth Rs 51 crore from Kavaratti Smart City

Reliance Industries announces bonus shares issue and increase in authorized share capital

Pondy Oxides and Chemicals Q2 Results: Revenues up 46%, PAT doubles YoY

EIH to invest over ₹7,582 crore in EIH London Investments

Ircon International and Patel Engineering sign MoU for strategic collaboration on Infrastructure projects

Bharti Airtel acquires 26% stake in AMP Energy C&I Thirty for INR 7.86 crore

CRISIL shares surge over 8% after strong Q4CY23 performance

Aditya Bhagchandani — Mon, 19 Feb 2024 05:22:59 +0000

Shares of CRISIL witnessed a significant surge of over 8% following the release of its fourth-quarter financial results.

According to a regulatory filing, CRISIL reported a robust 33% year-on-year increase in net profit, reaching ₹210.1 crore for the quarter ending December 31, 2023. In comparison, the company recorded a net profit of ₹158 crore in the corresponding quarter of the previous year.

Additionally, CRISIL’s revenue from operations saw a notable growth of 11.6%, reaching ₹917.7 crore compared to ₹822.3 crore in the same period of the preceding fiscal year.
As of 10:50

At the operating level, the company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) witnessed a significant rise of 24.3%, amounting to ₹268.9 crore in the fourth quarter of the current fiscal year, compared to ₹216.3 crore in the corresponding period of the previous fiscal year.

CRISIL report highlights IBC success to India’s bankruptcy landscape

Mahita Jain — Fri, 24 Nov 2023 12:33:51 +0000

The introduction of a focused bankruptcy law in India, known as the Insolvency and Bankruptcy Code (IBC), has been instrumental in transforming the credit culture in the country. However, recent years have witnessed a decline in recoveries and a significant extension of resolution timelines, according to a report by CRISIL Ratings.

As of September 2023, the recovery rates have dropped to 32%, down from 43% in March 2019. Concurrently, the average resolution time has surged from 324 days to 653 days, well beyond the stipulated 330 days. CRISIL Ratings notes that the IBC has successfully resolved debt amounting to Rs 3.16 lakh crore in 808 cases over the past seven years, making it a critical tool in the corporate loan landscape.

Mohit Makhija, senior director at CRISIL, hails the IBC as the “most potent code” in India’s corporate loan history, attributing a notable behavioral change in borrowers to the fear of losing companies. He highlights that over Rs 9 lakh crore of filed debt has been settled even before reaching the IBC doorstep for admission, indicating a deterrent effect that is three times the stressed debt resolved through the code in the same period.

Despite its success, CRISIL Ratings points out challenges that need to be addressed. The limited judicial bench strength and delays in identifying and acknowledging defaults are identified as impediments leading to extended resolution timelines. Delays in the pre-IBC admission stage have significantly impacted recovery rates, with the period increasing from 450 days in fiscal 2019 to 650 days in FY22.

The report emphasizes that 90 amendments have been made to the IBC thus far, including recent ones like approving the sale of assets/resolution plans on a segregated basis, increasing the number of National Company Law Tribunal benches to 16, and extending timelines for filing claims. Sushant Sarode, director at CRISIL, suggests solutions to current challenges, advocating for capacity augmentation, digitalization, and expanding pre-pack resolutions to large corporates to enhance the efficiency of the IBC.

However, despite its successes, there is a backlog of 13,000 cases under the IBC, including 2,073 ongoing corporate insolvency resolutions. CRISIL Ratings underscores that the recoveries from the IBC still outperform earlier debt resolution mechanisms, which typically yielded between 5-20% recovery rates.

Debt to rise for road developers, amid strong revenue growth: CRISIL

United News of India (UNI) — Wed, 22 Mar 2023 10:26:34 +0000

New Delhi, Mar 22: Sizeable equity commitments in under-construction projects and rising working capital requirement will increase the debt burden of road developers, though revenue growth will also be high in the next two fiscals driven by strong awarding and execution, together with significant budgetary allocation to the sector, ratings agency CRISIL said on Wednesday.

All the same, with the leverage level low at present, developers have headroom to borrow, which would keep their credit risk profiles stable, it said.
According to the agency, asset monetization will be crucial to rein in debt at comfortable levels.

A CRISIL Ratings analysis of 18 engineering, procurement and construction (EPC) players, constituting 70% of the sector revenue, indicated much, it said
“Total equity commitment towards under-construction public private partnership (PPP) projects is estimated at over Rs 21,000 crore by fiscal 2025. Further, the working capital requirements are expected to increase with expected strong revenue growth of 10-15% over the next two fiscals and rollback of liquidity support provisions under the Atmanirbhar Bharat package,” Mohit Makhija, Senior Director, CRISIL Ratings Ltd, said.

“Accruals will fund 45% of these incremental outflows, while the balance is expected to be funded through asset monetisation and debt. Consequently, debt of the sample set is expected to inch up to Rs 30,000 crore as of March 2025 from Rs 17,000 crore as of March 2022,” he said.

CRISIL: State revenue may increase by 7-9% this fiscal year

Yakita Somani — Wed, 24 Aug 2022 11:32:07 +0000

Revenue in the major states is likely to grow at a moderate rate of 7-9% this fiscal year, after galloping 25% last year, according to a report by rating agency CRISIL Ratings.

This estimate took into account India’s top 17 states, which account for 85-90% of total gross state domestic product.

“However, due to the economic slowdown caused by the pandemic, last fiscal growth was on a flattish base of fiscal 2021,” it said.

Goods and Services Tax (GST) collections and devolutions payments from the Centre, which account for 43-45% of state revenue, are expected to show robust double-digit growth this fiscal, according to the rating agency.

“The aggregate state GST collections will provide the biggest impetus to revenue growth,” said Anuj Sethi, Senior Director at CRISIL Ratings.

“We expect this momentum to continue, with collections increasing by 20% this fiscal year, aided by improved compliance, a higher inflationary environment, and steady economic growth.”

Furthermore, the report predicted that the share of central taxes paid by states would increase further.

Fuel collections for states from sales tax on motor fuel, on the other hand, are expected to remain almost range bound – that is, relatively stable.

A decrease in the central excise on gasoline and diesel in November 2021 and May 2022, followed by a decrease in the sales tax rates in some states, would offset the effects of an anticipated 25% annual increase in crude prices and higher sales volumes.

SBI Mutual Fund to alaunch SBI Balanced Advantage Fund, Details here

Diya S. — Wed, 11 Aug 2021 13:45:44 +0000

As reported by Moneycontrol, on Wednesday, SBI Mutual Fund announced the launch of SBI Balanced Advantage Fund, an open-end dynamic asset allocation fund that seeks at generating long-term capital appreciation to capture the potential upside and limit the downside in volatile equity markets.

The new fund offer (NFO) is set to open on August 12 and close on August 25. According to SBI Mutual Fund, the minimum application amount required during NFO is ₹5,000 and it multiples of ₹1 thereafter.

Furthermore, SBI Balanced Advantage Fund’s appointed fund managers are Dinesh Balachandran and Gaurav Mehta for the equity portion, Dinesh Ahuja for the debt portion and Mohit Jain for the management of overseas investments.

SBI MF said in a statement, “SBI Balanced Advantage Fund would manoeuvre across equity for long-term wealth creation and fixed income to provide stability to the overall scheme portfolio.”

“We are happy to launch SBI Balanced Advantage Fund at a very opportune time when equity markets are primarily getting driven by ample global liquidity”, added the Managing Director and CEO of SBI MF, Vinay Tonse.

He also said that their NFO would follow a 3-tier investment strategy for the evaluation of the optimal asset allocation across equity and debt based on robust economic and market indicators.

SBI Mutual Fund is a joint venture between the State Bank of India and Amundi, Europe’s leading asset manager.

Collections of securitised pool went down during second wave, recovered in June: CRISIL

Bhomik Mathur — Wed, 21 Jul 2021 09:48:30 +0000

The second wave of COVID-19 pandemic in the country contributed to a fall in collections ratios of the securitised pools, says a report by Indian analytics firm Crisil. The increased cases of COVID-19 followed by lockdowns in several states led to a sequential decline in the collection of securitised pools during the months of April and May. However, the fall was not as drastic as that witnessed during the first wave in 2020.

CRISIL has attributed increased digitisation and the absence of a moratorium on repayment for the softer fall this time as compared to the first wave. Last year, collections fell drastically as collection agents could not move due to the Coronavirus induced lockdown. The borrowers also availed of the moratorium facility, thus driving down collection efficiency.

In the wake of the pandemic, the finance companies decided to digitise their collection processes by incorporating electronic modes such as auto-debit, payment gateways and dedicated applications, said Crisil. Digital collections have “played an important role in preventing a similar fall in collections during the second wave,” according to Krishnan Sitharaman, Senior Director, CRISIL.

Further, lockdowns were imposed this year in a localised manner, reducing the impact on their business activities. As the pace of digitisation picked up after COVID-19, the cash flows of businesses have become more secure from disruptions, Crisil added.

For the June 2021 quarter, the numbers of securitisation deals received a boost in the month of June, after remaining muted throughout April and May. In fact, over 60% of the deals of the quarter were made in June only. However, the volumes have only reached about half of the average during the pre-pandemic period.

The fall in investor appetite during the period meant that even though deals were being negotiated, not many of them could be completed.

SGX Nifty hints at possitive opening for markets, a day after benchmark indices tanked

News Desk — Tue, 20 Apr 2021 07:42:47 +0000

SGX Nifty hints at a positive opening for domestic markets, a day after benchmark indices tanked. On Tuesday morning, Hang Seng, Topix and Nikkei 225 were trading with losses. Meanwhile KOSBI, KOSDAQ and Shanghai Composite were trading with gains.

Nifty respected the support of 14,200 which could lead to a potential increase in value. Let us talk about stocks in focus this week:

HCL Technologies: The information and Technology firm, on Monday, informed the European stock exchanges that it has signed a deal with UD Truck, a leading Japanese commercial vehicle manufacturer. It is a multi-million digital transformation and hybrid cloud contract.
Future Group stocks: Future Retail, Future Enterprises and other Future group stocks might observe some activity today. The Supreme Court on Monday stayed all the proceedings before the Delhi High Court linked to the implementation of the Singapore Emergency Arbitrator’s interim Award restraining the Rs 24,713-crore deal between Reliance Group and Future Retail. The matter was heard by a single judge, as well as a division bench of the Delhi High Court.
Tech Mahindra: The IT and BPO firm said on Monday, that it has acquired a 100% stake in DigitalOnUs. The company will pay $120 million for the procurement.
Crisil: In the January-March quarter, the company’s profit slipped to 83.5 crores from Rs 88 crore. The company has, therefore, declared an interim dividend of Rs 7 per share.
Adani Ports and Special Economic Zones: Gautam Adani led firm said that it has allotted 1 crore equity shares of the face value of Rs 2 each fully paid up, to Windy Lakeside Investment on a preferential basis, at an issue price of Rs 800 per Equity Share, aggregating to Rs 800 crores.
ACC Cement: The cement company reported a profit of Rs 563 crores in the previous quarter, a net profit jump from Rs 323 crore in the same period last year. ACC has kept a positive, yet cautious standpoint towards overall cement demand in the coming months.

Meanwhile, Network18 Media & Investments, Nestle India, Tata Steel Long Projects, Swaraj Engines, TV18 Broadcast, Welspun Investment and Commercials, among others will publish their quarterly returns today.

Tata Power receives upgraded ratings from CRISIL

Chittesh Dalmia — Thu, 05 Nov 2020 06:57:16 +0000

Tata Power announced on Thursday that rating agency, CRISIL has upgraded its rating to ‘CRISIL AA’ from ‘CRISIL AA-‘ on the non-convertible debentures (NCD) and long-term bank facilities.

Further the outlook has been revised to ‘Stable’ from ‘Positive’. The Mumbai based company’s commercial paper has been reaffirmed at CRISIL A1+.

The company stated in its BSE regulatory filing, “The rating upgrade has been driven by the deleveraging initiatives such as sale of non-core assets (South African wind asset and shipping business) and the preferential allotment of equity undertaken by the Company. The rating factors in management’s intent to keep net debt to EBITDA sustainably below 3.5 times including by divesting majority stake in the renewable portfolio through a proposed Infrastructure Investment Trust (InvIT).”

Mr. Praveer Sinha, CEO & Managing Director, Tata Power, “This rating upgrade recognizes the significant efforts of the company to strengthen the fundamentals.” “The company is on course to achieve the deleveraging and restructuring of business as laid out in its long term strategy which will bring greater value for our stakeholders.”

CRISIL upgrades rating of Tier I, II bonds issued by Central Bank of India

Chittesh Dalmia — Fri, 11 Sep 2020 18:21:48 +0000

Mumbai Based Central Bank of India announced on Friday that CRISIL has revised its ratings of the Tier I and Tier II bonds issued by the PSU.

CRISIL, a subsidiary of American company S&P Global. is an analytical company providing ratings, research, and risk and policy advisory services.

The bank announced through a BSE regulatory filing. “Pursuant to Regulation 84 of the Securities & Exchange Board of India (Listing Obligations and Disclosure Requirement) Regulations, 2015, this is to inform that CRISIL Ratings has reaffirmed its rating on Long-term debt instruments of the Bank as under:

Lower Tier II Bonds (Under Basel 11) -Credit Rating reaffirmed to A+/Stable
Upper Tier II Bonds (Under Basel 11) -Credit Rating reaffirmed to A/Stable
Tier ll Bonds (Under Basel Ill) -Credit Rating reaffirmed to A+/Stable
Perpetual Tier I Bonds (Under Basel 11) -Credit Rating reaffirmed to A/Stable”

Don’ts of ATM transactions
– Do not write your PIN on the card, memorize your PIN number
– Do not take help from strangers or handover your card to anyone for using it
– Do not disclose your PIN to anyone, including bank employees and family members pic.twitter.com/2k2jU1hyyC

— Central Bank of India (@centralbank_in) September 11, 2020