CRISIL Limited – Investor Presentation Summary

Key Operational Highlights

  • Corporate bond issuances declined 6% in 9M 2026 despite 36% increase in Q3 2026
  • Bank credit growth remained robust during the period
  • Continued scaling of domain-led AI capabilities through development and deployment of differentiated products and solutions
  • Added new logos in Fundamental Research and Credit Lending Solutions through Crisil Integral IQ

Segment-wise Performance

Ratings Services

  • 9M 2026 Income from operations: Rs 973.4 crore, growth of 23.6% YoY
  • 9M 2026 Segment profit: Rs 453.3 crore, growth of 26.9% YoY
  • 9M 2026 Margin: 46.6% vs 45.3% in 9M 2025
  • Q3 2026 Income from operations: Rs 345.6 crore, growth of 28.9% YoY
  • Q3 2026 Segment profit: Rs 155.2 crore, growth of 28.6% YoY
  • Q3 2026 Margin: 44.9% vs 45.0% in Q3 2025

Research, Analytics & Solutions

  • 9M 2026 Income from operations: Rs 2,256.4 crore, growth of 26.7% YoY
  • 9M 2026 Segment profit: Rs 453.4 crore, growth of 26.2% YoY
  • 9M 2026 Margin: 20.1% vs 20.2% in 9M 2025
  • Q3 2026 Income from operations: Rs 749.9 crore, growth of 16.5% YoY
  • Q3 2026 Segment profit: Rs 129.3 crore, decline of 8.3% YoY
  • Q3 2026 Margin: 17.2% vs 21.9% in Q3 2025
  • Segment profit for Q3 2025 included a higher FX gain as compared to Q3 2026

Financial Highlights

Consolidated Performance (9M 2026)

  • Income from operations: Rs 3,229.8 crore
  • Growth: 25.6% YoY
  • Profit before tax: Rs 702.7 crore
  • Growth: 26.5% YoY

Consolidated Performance (Q3 2026)

  • Income from operations: Rs 1,004.3 crore
  • Growth: 25.3% YoY
  • Profit before tax: Rs 234.5 crore
  • Growth: 19.2% YoY

Dividend

  • Interim dividend of Rs 17 per share declared in Q3 FY26 vs Rs 16 per share in Q3 FY25

Business Environment & Trends

India Macro

  • GDP growth forecast at 7.0% in FY27, supported by domestic demand but moderated by crude prices and weather shocks
  • Inflation expected to rise to 5.3% in FY27, driven by higher energy and food prices
  • Growth supported by manufacturing and domestic consumption, aided by GST 2.0, PLI schemes, supply-chain shifts
  • Infrastructure spending projected to double by fiscal 2030

Global Macro

  • Global GDP growth expected to remain resilient at 3.2% in both 2026 and 2027
  • US CPI expected to stay above 3% for the rest of 2026
  • Banks redirecting priorities toward credit quality, payments, and automation
  • AI investments continue to crowd out other tech spends, with top hyperscalers projected to spend ~$760 billion in 2026

Strategic Initiatives & Business Updates

Ratings Services

  • Maintained leadership position backed by investor preference for best-in-class assessments
  • Global Analytics Center saw growth in delegation of surveillance support to S&P Global Ratings
  • Expanded analytical and operational support to S&P in new areas
  • Hosted inaugural India Inc Summit 2026 and Ratings Round-up H1FY27 media webinar

Research, Analytics & Solutions

  • Crisil Coalition Greenwich focused on deepening client engagement with demand in Corporate and Investment Banking
  • Revenue growth moderated during Q3 2026 following accelerated renewal pipeline conversion in H1 2026
  • Crisil Integral IQ saw traction and wins in Fundamental Research and Credit Lending Solutions
  • Crisil Intelligence saw continued traction in data analytics, consulting, and credit and risk solutions
  • Hosted webinars on credit risk and AI autonomy, published thought leadership on US private credit and global economy

Corporate Social Responsibility

Financial Awareness and Inclusion

  • Mein Pragati: ~2,650 new Sakhis onboarded in Assam and Rajasthan, total Sakhi count 7,500+
  • Approx. 2.7 lakh rural community individuals supported through Sakhi cadre
  • RBI's scale-up of CFL project: 707 centres operational, ~22.2 lakh community individuals reached across 13 states and 4 UTs

Environmental Initiatives

  • Crisil RE: 73,600 saplings planted in Maharashtra through agro-forestry method
  • 20 wells rejuvenated in Udaipur, Rajasthan for year-long water supply
  • Rice sowing activity through Crisilites at Karjat, Maharashtra carried out in organic manner

Company Overview

  • Global, insights-driven analytics organization providing insights, consulting, technology-driven risk solutions and advanced data analytics
  • Serves clients across government, private and public enterprises
  • Headquartered in India, majority owned by S&P Global
  • Founded in 1987 as India's first credit rating agency
  • Global workforce operates in Americas, Asia-Pacific, Europe, Australia and Middle East