Key Financial Figures - Consolidated
Quarterly Performance (Q2 FY26 vs Q2 FY25):
- Income from operations: ₹1,075.4 crore (up 27.6% from ₹843.0 crore)
- Total income: ₹1,096.5 crore (up 26.5% from ₹866.6 crore)
- Profit before tax: ₹279.8 crore (up 24.4% from ₹225.0 crore)
- Profit after tax: ₹216.5 crore (up 26.2% from ₹171.6 crore)
- Net foreign exchange movement loss: ₹8.2 crore (vs loss of ₹6.6 crore in Q2 FY25)
Half-Yearly Performance (H1 FY26 vs H1 FY25):
- Income from operations: ₹2,133.1 crore (up 28.8% from ₹1,656.2 crore)
- Total income: ₹2,182.0 crore (up 27.6% from ₹1,710.3 crore)
- Profit before tax: ₹588.2 crore (up 30.1% from ₹452.2 crore)
- Profit after tax: ₹449.7 crore (up 35.7% from ₹331.4 crore)
Earnings Per Share (Consolidated):
- Basic EPS: ₹29.60 for Q2 FY26 (vs ₹23.46 in Q2 FY25)
- Diluted EPS: ₹29.60 for Q2 FY26 (vs ₹23.46 in Q2 FY25)
- Basic EPS: ₹61.50 for H1 FY26 (vs ₹45.32 in H1 FY25)
- Diluted EPS: ₹61.50 for H1 FY26 (vs ₹45.32 in H1 FY25)
Key Financial Figures - Standalone
Quarterly Performance (Q2 FY26 vs Q2 FY25):
- Revenue from operations: ₹519.22 crore (vs ₹430.82 crore)
- Total income: ₹656.47 crore (vs ₹587.20 crore)
- Profit before tax: ₹188.71 crore (vs ₹216.28 crore)
- Profit after tax: ₹166.31 crore (vs ₹194.24 crore)
Half-Yearly Performance (H1 FY26 vs H1 FY25):
- Revenue from operations: ₹993.86 crore (vs ₹831.57 crore)
- Total income: ₹1,281.15 crore (vs ₹1,102.43 crore)
- Profit before tax: ₹316.99 crore (vs ₹367.24 crore)
- Profit after tax: ₹279.74 crore (vs ₹324.06 crore)
Dividend Declaration
The Board declared an interim dividend of ₹10 per share having face value of ₹1 each.
Segment Performance - Q2 FY26
Ratings Services:
- Revenue grew 21.4% year-on-year
- Maintained leadership position in credit ratings
Research, Analytics & Solutions:
- Revenue grew 30.1% year-on-year
- Includes Crisil Global Analytics Center, Crisil Integral IQ, Crisil Coalition Greenwich, and Crisil Intelligence
Segment Revenue Breakdown:
- Ratings Services: ₹505.12 crore
- Research, Analytics & Solutions: ₹570.85 crore
- Total revenue from operations: ₹1,075.97 crore
- Intersegment revenue elimination: ₹0.58 crore
- Net revenue from operations: ₹1,075.39 crore
Strategic and Operational Highlights
- Management highlighted continued growth momentum despite volatile macroeconomic and geopolitical environment
- Growth across both domestic and international businesses
- Focus on leveraging domain-led GenAI capabilities and future-ready talent
- Crisil entered its 40th year of operations
Business Segment Updates
- Crisil Ratings: Saw 21.4% YoY growth backed by investor preference for assessments
- Crisil Global Analytics Center: Growth in delegation of surveillance support to S&P Global Ratings
- Crisil Integral IQ: Demand for Credit Lending Solutions and Fundamental Research
- Crisil Coalition Greenwich: Momentum in Corporate and Investment Banking and Commercial Banking
- Crisil Intelligence: Continued demand for data analytics, consulting, and credit/risk solutions
Market Context and Guidance
- Expects India's GDP to grow at 6.6% in current fiscal vs 7.6% last fiscal
- S&P Global expects global GDP growth to decelerate to 3.1% in 2026 from 3.4% in 2025
- US economy expected to grow at 2.1% in 2026
- Corporate bond yields remain elevated, resulting in 25.7% YoY decline in issuance value in Q2 2026
- Bank credit remained robust at 17.7% as of May 2026 vs 9.0% as of May 2025
Corporate Actions
Merger of wholly owned subsidiary Bridge to India Energy Private Limited with Crisil Limited, effective September 25, 2025, with appointed date as January 1, 2025. Previous periods' standalone figures have been restated accordingly.