Financial Performance - Consolidated (Q3 FY26)

  • Income from operations: ₹1,095.2 crore, up 20.2% YoY (from ₹911.2 crore in Q3 FY25)
  • Total income: ₹1,120.9 crore, up 18.2% YoY (from ₹948.2 crore in Q3 FY25)
  • Profit before tax (PBT): ₹276.1 crore, up 5.3% YoY (from ₹262.3 crore in Q3 FY25)
  • Profit after tax (PAT): ₹204.5 crore, up 5.9% YoY (from ₹193.1 crore in Q3 FY25)
  • Foreign exchange gain: ₹2.3 crore (compared to gain of ₹15.5 crore in Q3 FY25)
  • Basic and diluted EPS: ₹27.97 (compared to ₹26.41 in Q3 FY25)

Financial Performance - Consolidated (9M FY26)

  • Income from operations: ₹3,228.2 crore, up 25.7% YoY (from ₹2,567.4 crore in 9M FY25)
  • Total income: ₹3,302.9 crore, up 24.8% YoY (from ₹2,646.9 crore in 9M FY25)
  • Profit before tax (PBT): ₹864.3 crore, up 21.0% YoY (from ₹714.5 crore in 9M FY25)
  • Profit after tax (PAT): ₹654.3 crore, up 24.7% YoY (from ₹524.5 crore in 9M FY25)
  • Basic and diluted EPS: ₹89.47 (compared to ₹71.72 in 9M FY25)

Standalone Financial Performance

  • Q3 FY26 Total income: ₹666.6 crore
  • Q3 FY26 Profit after tax: ₹151.9 crore
  • 9M FY26 Total income: ₹1,948.6 crore
  • 9M FY26 Profit after tax: ₹431.7 crore

Segment Performance (Consolidated)

Q3 FY26:

  • Ratings Services Revenue: ₹345.6 crore, up 28.9% YoY
  • Research, Analytics & Solutions Revenue: ₹749.9 crore, up 16.5% YoY
  • Ratings Services Segment Profit: ₹155.2 crore
  • Research, Analytics & Solutions Segment Profit: ₹129.3 crore

9M FY26:

  • Ratings Services Revenue: ₹973.4 crore
  • Research, Analytics & Solutions Revenue: ₹2,256.4 crore

Dividend Declaration

The Board of Directors declared an interim dividend of ₹17 per share (face value of ₹1 each).

Management Commentary

Amish Mehta, Managing Director & CEO, stated that Q3 2026 performance reflected the strength of Crisil's diversified portfolio and sustained growth across domestic and international businesses. He highlighted investments in domain-led AI and workforce development to enhance client experience and efficiency.

Economic Outlook

  • Crisil raised India's GDP growth forecast for FY26 to 7.0% from 6.6%, reflecting stronger-than-expected first-quarter growth
  • CPI inflation rose to 5.5% in September 2026
  • RBI's Monetary Policy Committee raised repo rate by 25 bps to 5.50% and adopted a 'calibrated tightening' stance
  • Global growth revised upward by 10 basis points to 3.2% for calendar 2026 by S&P Global Ratings

Business Updates

  • Crisil Ratings maintained leadership position with 25.6% YoY revenue growth in Q3 2026
  • Corporate bond issuance declined 6.1% YoY in first nine months of 2026 despite 35.7% increase in Q3 2026
  • Bank credit growth remained robust at 19.1% as of August 2026
  • Global Analytics Center saw growth in delegation of surveillance support to S&P Global Ratings
  • Crisil acquired PriceMetrix, reflected in Q3 and 9M 2026 results
  • Company received 18 industry recognitions year-to-date, including being named a 'Category Leader' in Model Validation for the fifth consecutive year

Corporate Structure

  • Paid-up equity share capital: ₹7.31 crore (face value of ₹1 each)
  • Crisil is majority owned by S&P Global
  • Founded in 1987 as India's first credit rating agency