CRISIL Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹33,631 Cr
- P/E
- 38.03
- ROE
- 24.46%
- PEG
- 5.25
- Price to sales
- 8.15
- Debt to equity
- 0.10
- 52W high / low
- ₹4,954 / ₹3,706
- Sales growth (5Y)
- 12.99%
- EBITDA margin
- 29.79%
- Net profit margin
- 18.77%
- Promoter holding
- 66.64%
- Sales (last year)
- ₹4,126 Cr
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]
Guidance scorecard · Q2 FY27 call
What CRISIL Ltd's management guided
and where it ranks in Finance
Finance
RevenueQ4 FY26 call
10–20%- The company aims to drive consistent growth across all businesses (ratings, research analytics, intelligence), leveraging new client offerings, segments, and geographic expansions.
- Growth is supported by increasing wallet share in core markets, adjacent offerings, and new client segments including regional banks and private markets globally.
- Recent acceleration in contract renewals in benchmarking business (RAS segment) in Q1 FY26 will smooth out seasonality, normalizing revenues over subsequent quarters.
- Diversification into private markets, risk and credit solutions for regional banks aims to offset any discretionary spend delays from large global banks.
- Emphasis on leveraging Gen-AI and technology to enhance productivity and client value, supporting sustainable growth and margin expansion.
2 more points from CRISIL Ltd's call on revenue
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MarginsQ4 FY26 call
FlatSee what CRISIL Ltd said on margins — free account, 30 seconds.
CapexQ4 FY26 call
Planned- The company continues to invest in growth across technology, Gen-AI, client development, and other necessary areas to sustain and grow the franchise.
- Acquired PriceMetrix to deepen presence in wealth management, enhancing capabilities in this growing space.
- Took a small stake in an SME platform company in India to expand strategic reach.
- Focus on building domain-led Gen-AI solutions, capability development, and upskilling to accelerate innovation and commercialization of emerging technologies.
2 more points from CRISIL Ltd's call on capex
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FundraisingQ4 FY26 call
See what CRISIL Ltd said on fundraising — free account, 30 seconds.
Order bookQ4 FY26 call
- During the call, when asked about order book growth or visibility of growth in the RAS segment, Amish Mehta stated they do not comment on order books.
- The management is focused on driving growth across all businesses and maintains that their customer segments and offerings are well positioned.
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Finance
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Finance companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹2,742 Cr | 71.8 | |
| 2 | 40%+ | Up 2%+ | ₹464 Cr | 23.9 | |
| 3 | 40%+ | Up 0–2% | ₹961 Cr | 32.7 | |
| 4 | 40%+ | Flat | ₹1.43L Cr | 83.4 | |
| 5 | 40%+ | Flat | ₹23,820 Cr | 21.1 | |
| 6 | 40%+ | Flat | ₹16,498 Cr | 72.4 |
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Pro shows every company guiding 40%+ revenue growth →Full Finance rankingFinancials of CRISIL Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
CRISIL Ltd
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 66.65% | 66.65% | 66.64% | 66.64% | 66.64% | 66.64% | 66.64% | 66.64% | 66.64% | 66.64% | 66.64% | 66.64% |
| FIIs + | 7.19% | 7.20% | 7.17% | 7.22% | 7.55% | 7.69% | 8.08% | 7.81% | 7.67% | 7.18% | 6.38% | 6.94% |
| DIIs + | 12.92% | 12.94% | 12.49% | 12.70% | 12.69% | 12.38% | 12.06% | 12.17% | 12.09% | 12.61% | 12.95% | 12.63% |
| Public + | 13.23% | 13.21% | 13.69% | 13.43% | 13.13% | 13.28% | 13.21% | 13.37% | 13.59% | 13.57% | 14.02% | 13.79% |
| No. of Shareholders | 46,428 | 49,675 | 58,612 | 57,736 | 56,843 | 62,095 | 68,832 | 74,565 | 81,642 | 81,755 | 88,482 | 84,599 |
Financials of CRISIL Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 736 | 918 | 738 | 797 | 812 | 913 | 813 | 843 | 911 | 1,082 | 1,058 | 1,075 | 1,095 |
| Expenses + | 544 | 649 | 546 | 591 | 588 | 626 | 581 | 604 | 648 | 742 | 739 | 768 | 794 |
| Operating Profit | 192 | 269 | 192 | 207 | 224 | 287 | 232 | 239 | 263 | 340 | 319 | 308 | 302 |
| OPM % | 26% | 29% | 26% | 26% | 28% | 31% | 29% | 28% | 29% | 31% | 30% | 29% | 28% |
| Other Income + | 36 | 36 | 21 | 18 | 21 | 30 | 31 | 24 | 37 | 27 | 36 | 21 | 26 |
| Interest | 1 | 1 | 1 | 1 | 1 | 2 | 6 | 6 | 6 | 5 | 7 | 7 | 7 |
| Depreciation | 26 | 25 | 17 | 16 | 16 | 21 | 30 | 32 | 32 | 35 | 39 | 42 | 44 |
| Profit before tax | 200 | 279 | 195 | 208 | 229 | 294 | 227 | 225 | 262 | 327 | 308 | 280 | 276 |
| Tax % | 24% | 25% | 30% | 28% | 25% | 24% | 30% | 24% | 26% | 26% | 24% | 23% | 26% |
| Net Profit + | 152 | 210 | 138 | 150 | 172 | 225 | 160 | 172 | 193 | 242 | 233 | 216 | 205 |
| EPS in Rs | 20.79 | 28.74 | 18.84 | 20.53 | 23.46 | 30.72 | 21.86 | 23.46 | 26.41 | 33.02 | 31.90 | 29.60 | 27.97 |
Financials of CRISIL Ltd
Profit & Loss
Annual income statement trend
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 4,310 |
| Expenses + | 865 | 980 | 1,104 | 1,203 | 1,277 | 1,276 | 1,471 | 1,690 | 2,039 | 2,258 | 2,349 | 2,564 | 3,042 |
| Operating Profit | 389 | 400 | 443 | 455 | 471 | 456 | 511 | 611 | 730 | 882 | 911 | 1,085 | 1,268 |
| OPM % | 31% | 29% | 29% | 27% | 27% | 26% | 26% | 27% | 26% | 28% | 28% | 30% | 29% |
| Other Income + | 24 | 43 | 50 | 25 | 73 | 73 | 83 | 123 | 122 | 94 | 90 | 107 | 110 |
| Interest | 0 | 0 | 0 | 0 | 2 | 0 | 14 | 9 | 6 | 4 | 4 | 22 | 26 |
| Depreciation | 36 | 37 | 55 | 47 | 43 | 37 | 121 | 106 | 103 | 104 | 70 | 129 | 161 |
| Profit before tax | 376 | 406 | 438 | 434 | 500 | 492 | 458 | 618 | 742 | 868 | 926 | 1,041 | 1,191 |
| 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 | 896 |
| 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 | 104.75 | 122.49 |
| Dividend Payout % | 53% | 57% | 65% | 66% | 60% | 67% | 68% | 72% | 62% | 60% | 60% | 57% |
Financials of CRISIL Ltd
Balance Sheet
Capital structure and asset base
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 7 | 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 | 3,264 |
| Borrowings + | 0 | 0 | 0 | 0 | 3 | 3 | 0 | 132 | 83 | 47 | 250 | 297 | 335 |
| Other Liabilities + | 416 | 475 | 400 | 446 | 495 | 514 | 895 | 793 | 956 | 1,061 | 1,127 | 1,252 | 1,418 |
| 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 | 5,024 |
| Fixed Assets + | 432 | 413 | 309 | 293 | 350 | 349 | 763 | 661 | 619 | 635 | 976 | 1,440 | 1,515 |
| CWIP | 0 | 3 | 4 | 13 | 7 | 12 | 14 | 5 | 14 | 31 | 55 | 30 | 0 |
| Investments | 375 | 383 | 465 | 525 | 477 | 453 | 476 | 645 | 683 | 1,056 | 1,454 | 1,180 | 1,000 |
| Other Assets + | 458 | 532 | 607 | 663 | 800 | 875 | 955 | 1,193 | 1,515 | 1,576 | 1,457 | 1,932 | 2,508 |
| 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 | 5,024 |
Financials of CRISIL Ltd
Cash Flows
Operating, investing and financing cash movement
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 265 | 270 | 279 | 291 | 379 | 446 | 500 | 403 | 456 | 780 | 765 | 756 |
| Cash from Investing Activity + | -185 | 2 | -19 | -179 | -64 | -77 | -300 | -97 | -59 | -326 | -387 | -267 |
| Cash from Financing Activity + | -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/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 100% | 100% | 98% | 101% | 116% | 130% | 122% | 98% | 93% | 116% | 118% | 96% |
Financials of CRISIL Ltd
Ratios
Working capital efficiency and return ratios
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 41 | 52 | 49 | 57 | 59 | 42 | 57 | 86 | 100 | 78 | 62 | 69 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| 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% |
Guidance history
How CRISIL Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q4 FY26 call → | 10–20% | Flat | Planned | — | — |
| Q4 FY24 call → | 10–20% | Flat | Planned | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
31 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −6.3% | 54% |
| Last 6 months | +8.2% | 65% |
| Last 3 months | +5.0% | 74% |
The price is 23.5% below its all-time high of ₹6,108.15 (3 Jan 2025). Stocks more than 20% below their peak have their score halved, so 63 became 31.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For CRISIL Ltd: 0.4 × 54 + 0.4 × 65 + 0.2 × 74 = 63, halved to 31 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 28 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What CRISIL Ltd's management said in earlier quarters
- Q2 FY27 earnings call analysis →
- Q2 FY25 earnings call analysis →
- Q3 FY25 earnings call analysis →
- Q1 FY26 earnings call analysis →
- Q4 FY25 earnings call →
- Q4 FY24 earnings call →
- Q4 FY23 earnings call →
- Q3 FY21 earnings call →
- Q3 FY20 earnings call →
- Q3 FY19 earnings call →
- Q3 FY18 earnings call →
- Q3 FY17 earnings call →
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