Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 8 Sep - Please find attached intimation regarding notice published in newspapers.
Source: Bse
CRISIL Limited (CRISIL)
Large CapFinancial Services stocks · Large cap · NSE
Crisil is a global, insights-driven analytics organisation offering independent credit ratings in India, strategic benchmarking, analytics, and risk solutions to financial services globally. It is majority-owned by S&P Global.
Data qualityFresh enough for analysisQuote updated 21 Oct, 02:02 pm ISTDetails
Quote21 Oct, 02:02 pm IST
Base fundamentals14 Oct 2026 · screener
Latest result22 Jul, 03:56 am IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags04 Oct 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Financial Services P/E 17.0 (n=243)
Technical timing lens
Trend score and candlestick chart
52NeutralSMA20 -3.4% / mo · MACD +
Stock trend: 55
Sector RS: 46
Sector 3M: -6.0% vs Nifty 500 -6.1%
Financial Services FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
CRISILD candles · FIT view+6.6%TODAY · PROVISIONALLatest price ₹4552.70 on 2026-10-21
Today's candle is provisional from the latest intraday quote; completed-candle scans remain unchanged.
Bar
+0.9%
RSI
52
MACD hist
8.63
52W pos
63%
2026-10-21O ₹4511.30H ₹4600.00L ₹4490.10C ₹4552.70Vol 17,579 shIntraday candle
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
CRISILNifty Financial ServicesNifty 500
- CRISIL
- +6.9%
- Nifty 500
- -5.6%
- Nifty Financial Services
- -6.0%
- Vs Nifty 500
- +12.5 pp
Chart stats
19 Oct 2026- From 52W high
- -10.6%
- 52W range position
- 61%
- ATR (14)
- 2.8%
- Volume vs 20D
- 0.34x
- Avg traded value
- ₹15.2 Cr
- 20D price channel
- ₹4,345 - ₹4,706.2
₹5,064.9
₹3,686 - ₹5,064.9
₹124.8
Latest completed session
20-session average
26.9% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · FAIR VALUE53
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent75
Revenue +27.5% · PAT +25.6% YoY
Technical
Neutral52
Price trend and sector-relative-strength timing.
Valuation
Legacy model-47.6%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence84
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Excellent · 75/100Rev +28% YoY · PAT +26% YoY · margin expansion
Filed 21 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1,075 Cr | +27.5% | +1.6% |
| EBITDA | ₹308 Cr | +28.9% | -3.4% |
| Operating margin | 29.0% | +100 bps | -100 bps |
| PAT | ₹216 Cr | +25.6% | -7.3% |
| PAT margin | 20.1% | -31 bps | -193 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 37.10
- P/B
- 10.02
- EV/EBITDA
- 24.03
- Market Cap
- 32785.00Cr
Profitability
- ROE
- 24.50%
- ROCE
- 32.60%
- ROA
- 17.60%
- Dividend Y
- 0.56%
Growth (CAGR)
- Revenue 5Y
- 13.00%
- EPS 5Y
- 14.00%
- Revenue 3Y
- 10.00%
- EPS 3Y
- 7.00%
Balance Sheet
- Debt/Equity
- 0.10
- Interest Coverage
- 49.16×
- Altman Z
- 8.77
- Book Value
- 447.00
Cash Flow
- FCF Yield
- 1.49%
- FCF Positive Y
- 12/5
- OCF
- 756.00 Cr
- EPS TTM
- 120.93
Shareholding
- Promoter Hold
- 66.64%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 58%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 4,126+13.1% vs prev
Net Profit
₹ CrLatest: 766+12.0% vs prev
Return on Equity
%Latest: 25.3-5.3% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term uptrend intact. RSI 52. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 falling (~3.7% over last month) — short-term momentum negative.
- RSI(14) at 52 — rising, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 10% off 52W high · 24% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
63
RS percentile
Stage 2 UptrendNew S2
1M return
-1.1%
3M return
+6.9%
6M return
+4.2%
1Y return
-9.2%
RS 1D
+3
RS 20D
+6
Sector rank
#9
Industry rank
-
Stage evidence
- Price is 6.3% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +0.7%.
- Both 3-month and 6-month returns are positive.
50-DMA
price below
200-DMA
price above
S2 entered
15 Oct 2026
S2 age
3 trading sessions
Sector
neutral
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
261 observations
19 Oct 2026Value 101.95+0.58%
RS vs Nifty 500102
Valuation & peers
U-Score 53 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 53 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Premium Compounder
Fundamental score breakdown
U band · FAIR VALUEValuation0/30
Growth12/25
Quality18/20
Balance Sheet11/15
Cash Flow7/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
53
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
53/100 · legacy band FAIR VALUE
Positive drivers
- Piotroski is strong at 8/9.
- Quality contributes 18/20 to the score.
- Balance sheet contributes 11/15 to the score.
Main drags
- Fair-value margin of safety is negative at -47.6%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Growth is weaker at 12/25; verify the latest quarterly trend.
Sector valuation model
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Primary lens
PE, EV/EBITDA, margin of safety, and FCF yield together.
Secondary checks
ROE/ROCE, growth, cash conversion, leverage, promoter risk.
Main risk check
One cheap metric is not enough if quality or cash flow is weak.
PE
37.1
PB
10.0
EV/EBITDA
24.0
ROE
24.5%
ROCE
32.6%
FCF Yield
1.5%
Debt/Equity
0.1
MoS
-47.6%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
53
Previous: 53
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
-47.6%
Previous: -46.8%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
53
53
53
53
53
53
53
53
53
53
53
53
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹1,102.84
-312.8% MoS
Growth-justified P/E
25.5
Growth-justified Value
₹3,083.72
-47.6% MoS
PEG
3.31
Comparable companies
Peers
Business-comparable peers in Financial Services — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
ICRA
Small
ICRA Limited
Ratings
match 79
55
21.1
16.7%
+13%
FAIR VALUE
CARERATING
Small
CARE Ratings Limited
Ratings
match 75
51
27.2
19.7%
-7%
FAIR VALUE
ABSLAMC
Large
Aditya Birla Sun Life AMC Limited
Asset Management
match 22
60
27.9
25.2%
+10%
UNDERVALUED
GODIGIT
Large
Go Digit General Insurance Limited
Insurance
match 21
36
53.4
12.2%
-111%
WATCHLIST
HDBFS
Large
HDB Financial Services Limited
NBFC
match 20
35
14.4
14.7%
+44%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-07-23T07:13:07.177Z
Management commentary snapshot
CRISIL reported strong Q2 2026 performance with Income from operations up 27.6% YoY and PBT up 24.4% YoY. H1 2026 also saw robust growth, with Income from operations up 28.8% and PBT up 30.1% YoY, despite macro uncertainties.
CRISIL demonstrated resilient performance in Q2 and H1 2026, with strong revenue and profit growth across its Ratings and Research, Analytics & Solutions segments. Strategic acquisitions and AI upgrades are enhancing competitiveness, supporting the overall growth trajectory despite some macro headwinds.
Growth engines
Crisil Ratings leadership
INTACTContinued to grow revenues and maintain leadership position backed by investor preference for best-in-class assessments.
Crisil Global Analytics Center (GAC)
INTACTSaw growth in delegation of surveillance support to S&P Global Ratings and expanded analytical and operational support in new areas.
Crisil Coalition Greenwich
INTACTSaw momentum in Corporate and Investment Banking and continued traction in Commercial Banking, with accelerated pipeline conversion and PriceMetrix acquisition.
Crisil Integral IQ
INTACTSaw demand for Credit Lending Solutions and Fundamental Research.
Capacity and execution
PriceMetrix acquisition
INTACTThe PriceMetrix acquisition is reflected in the Q2 2026 and H1 2026 results for Crisil Coalition Greenwich.
AI upgrades
INTACTContinued strengthening competitiveness by building domain-led products and implementing AI upgrades to enhance client experience, sharpen insights, and improve efficiency.
Community Financial Learning (CFL) centers
INTACT707 CFL centres are operational, reaching over 22 lakh community individuals across 13 states and 4 UTs for financial awareness.
Tailwinds
AI investment boom
INTACTPartially offsetting the Middle East energy supply shock, supporting global GDP growth.
Robust government capex in India
INTACTSupporting India's GDP growth in the current fiscal.
Resilient services exports & private consumption in India
INTACTSupporting India's GDP growth in the current fiscal.
Strong upticks in ECM and DCM
INTACTDriving projected 45% and 28% growth in Investment Banking and Markets revenues respectively in Q2 2026.
Headwinds
Global GDP growth markdown
UNDER_STRESSForecast at 3.1% in 2026, a 10 bps markdown from previous forecasts.
Middle East energy supply shock
UNDER_STRESSDriving up global inflation and leading to renewed bias toward raising policy rates.
Higher crude oil and commodity prices
UNDER_STRESSMultiple headwinds impacting India's GDP growth forecast.
Below-normal monsoon forecast
UNDER_STRESSMultiple headwinds impacting India's GDP growth forecast.
Risk radar
Global inflation and policy rates
UNDER_STRESSEnergy supply shock is driving up global inflation, leading to a renewed bias toward raising policy rates across several central banks.
Input cost pressures
UNDER_STRESSWill impact manufacturing and construction in India.
Rupee under pressure
UNDER_STRESSDriven by a widening current account deficit and volatile capital flows amid the West Asia conflict.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
The presentation provides both Q2 (quarterly) and H1 (half-yearly) comparisons against the previous year, indicating the importance of both sequential momentum and annual performance trends for this business.
Sector KPIs management disclosed
Bond issuance quantum
UNDER_STRESSQ2 2026 bond issuances declined 26% YoY to Rs 2,693 billion; H1 2026 declined 18% YoY to Rs 5,456 billion. Number of issuers decreased from ~840 in H1 2025 to ~430 in H1 2026.
Bank Credit Growth
INTACTBank credit growth was 15.4% in May-26. Data from Dec-25 onwards is not comparable on a like-for-like basis with prior periods due to change in RBI reporting.
India Mutual Funds AUM
INTACTIndia mutual funds AUM grew from Rs 8,252 thousand crore in Q1 2026 to Rs 8,527 thousand crore in Q2 2026.
Indian Banking Sector Gross NPAs
INTACTIndian banking sector gross NPAs declined from 7.50% in FY21 to 1.80% in FY26.
Management forward view
Strengthening competitiveness
INTACTContinued by building domain-led products and implementing AI upgrades to enhance client experience, sharpen insights, and improve efficiency.
Community impact expansion
INTACTCrisil Foundation expanded community impact through Mein Pragati and Crisil RE, reaching an additional 2.65 lakh people.
Interim dividend increase
INTACTInterim dividend of Rs 10 per share declared in Q2 2026 vs. Rs 9 per share in the same quarter last year.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Global GDP growth | 3.1% (2026 forecast, 10 bps markdown) | Further revisions due to energy supply shocks and AI investment impact. |
| India GDP growth | 6.6% (current fiscal forecast) | Monitor impact of crude oil prices, global growth, and monsoon on manufacturing and construction. |
| Bond issuance quantum | Q2 2026: Rs 2,693 billion (-26% YoY) | Observe recovery in corporate bond issuances and number of issuers. |
| Investment Banking and Markets revenues | Projected to grow by 45% and 28% respectively in Q2 2026 | Track actual growth rates and sustained upticks in ECM and DCM. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
84Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 97th percentile of the scored universe and 98th percentile within Financial Services. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 21 Oct 2026
management-trust-v1
71 docs text-extracted · 11 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
97th percentile
overall median 67 · Financial Services: 98th pctile, median 62 · Large: 90th pctile, median 73
Evidence depth
Financial-only
71 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
96
strong · leverage and solvency
Discipline
72
acceptable · capital discipline
Results
95
strong · quarterly consistency
Trust positives
- ▸Promoter holding is 66.6%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 1.5%.
- ▸12 years of positive FCF.
Trust risks
- ▸ROCE trend is -3.4%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching CRISIL Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 26 Aug - Please find attached clippings of newspaper.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 10 Aug
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 6 Aug
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 24 Jun - Clippings of newspaper advertisement published today.
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.