Reported Earnings • Jul 22
Second quarter 2026 earnings: EPS and revenues exceed analyst expectations Second quarter 2026 results: EPS: ₹29.60 (up from ₹23.46 in 2Q 2025). Revenue: ₹11.0b (up 30% from 2Q 2025). Net income: ₹2.16b (up 26% from 2Q 2025). Profit margin: 20% (in line with 2Q 2025). Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) also surpassed analyst estimates by 4.2%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Capital Markets industry in India. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Price Target Changed • Jul 22
Price target increased by 7.0% to ₹4,958 Up from ₹4,632, the current price target is an average from 2 analysts. New target price is 10% above last closing price of ₹4,496. Stock is down 23% over the past year. The company is forecast to post earnings per share of ₹130 for next year compared to ₹105 last year. Upcoming Dividend • Jul 20
Upcoming dividend of ₹9.00 per share Eligible shareholders must have bought the stock before 27 July 2026. Payment date: 05 August 2026. Payout ratio is a comfortable 54% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of Indian dividend payers (1.5%). In line with average of industry peers (1.3%). Declared Dividend • Jul 06
First quarter dividend of ₹9.00 announced Shareholders will receive a dividend of ₹9.00. Ex-date: 27th July 2026 Payment date: 5th August 2026 Dividend yield will be 1.6%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is covered by both earnings (54% earnings payout ratio) and cash flows (65% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 45% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jul 01
CRISIL Limited to Report Q2, 2026 Results on Jul 21, 2026 CRISIL Limited announced that they will report Q2, 2026 results on Jul 21, 2026 Announcement • Apr 18
Crisil Limited Approves Final Dividend for the Year Ended December 31, 2025 CRISIL Limited at its AGM to be held on April 17, 2026 approved final dividend on equity shares of INR 28 per equity share of face value of Re.1/- and to approve and confirm the declaration and payment of three interim dividends aggregating INR 33 per equity share for the year ended December 31, 2025. Price Target Changed • Apr 14
Price target decreased by 9.3% to ₹4,632 Down from ₹5,107, the current price target is an average from 2 analysts. New target price is 14% above last closing price of ₹4,057. Stock is down 6.7% over the past year. The company is forecast to post earnings per share of ₹111 for next year compared to ₹105 last year. Reported Earnings • Mar 28
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: ₹105 (up from ₹93.55 in FY 2024). Revenue: ₹36.5b (up 12% from FY 2024). Net income: ₹7.66b (up 12% from FY 2024). Profit margin: 21% (in line with FY 2024). Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) missed analyst estimates by 2.1%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Capital Markets industry in India. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 6% per year. Upcoming Dividend • Mar 26
Upcoming dividend of ₹28.00 per share Eligible shareholders must have bought the stock before 02 April 2026. Payment date: 23 April 2026. Payout ratio is a comfortable 58% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of Indian dividend payers (1.7%). In line with average of industry peers (1.4%). Declared Dividend • Feb 18
Fourth quarter dividend of ₹28.00 announced Shareholders will receive a dividend of ₹28.00. Ex-date: 2nd April 2026 Payment date: 23rd April 2026 Dividend yield will be 1.3%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (58% earnings payout ratio) and cash flows (65% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 54% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 16
CRISIL Limited, Annual General Meeting, Apr 17, 2026 CRISIL Limited, Annual General Meeting, Apr 17, 2026. Reported Earnings • Feb 16
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: ₹105 (up from ₹93.55 in FY 2024). Revenue: ₹37.6b (up 15% from FY 2024). Net income: ₹7.66b (up 12% from FY 2024). Profit margin: 20% (in line with FY 2024). Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) missed analyst estimates by 2.1%. Revenue is forecast to grow 9.9% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Capital Markets industry in India. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 12% per year. Announcement • Jan 05
CRISIL Limited to Report Q4, 2025 Results on Feb 13, 2026 CRISIL Limited announced that they will report Q4, 2025 results on Feb 13, 2026 Declared Dividend • Oct 22
Third quarter dividend of ₹16.00 announced Shareholders will receive a dividend of ₹16.00. Ex-date: 27th October 2025 Payment date: 6th November 2025 Dividend yield will be 1.2%, which is lower than the industry average of 1.3%. Sustainability & Growth Dividend is covered by both earnings (58% earnings payout ratio) and cash flows (68% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 37% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Oct 20
CRISIL Limited Approves the Payment of Third Interim Dividend for the Financial Year Ending December 31, 2025, Payable on November 6, 2025 The Board of Directors of CRISIL Limited approved the payment of Third Interim dividend of INR 16 per equity share of face value of INR 1 each, for the financial year ending December 31, 2025, which will be paid on November 6, 2025. Announcement • Oct 01
CRISIL Limited to Report Q3, 2025 Results on Oct 17, 2025 CRISIL Limited announced that they will report Q3, 2025 results on Oct 17, 2025 Reported Earnings • Jul 24
Second quarter 2025 earnings released: EPS: ₹23.46 (vs ₹20.53 in 2Q 2024) Second quarter 2025 results: EPS: ₹23.46 (up from ₹20.53 in 2Q 2024). Revenue: ₹8.43b (up 5.7% from 2Q 2024). Net income: ₹1.72b (up 14% from 2Q 2024). Profit margin: 20% (up from 19% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Capital Markets industry in India. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jul 24
Second quarter dividend of ₹9.00 announced Shareholders will receive a dividend of ₹9.00. Ex-date: 28th July 2025 Payment date: 8th August 2025 Dividend yield will be 1.0%, which is lower than the industry average of 1.3%. Sustainability & Growth Dividend is covered by both earnings (58% earnings payout ratio) and cash flows (68% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 51% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jul 02
CRISIL Limited to Report Q2, 2025 Results on Jul 22, 2025 CRISIL Limited announced that they will report Q2, 2025 results on Jul 22, 2025 Price Target Changed • May 08
Price target increased by 7.2% to ₹4,620 Up from ₹4,311, the current price target is an average from 2 analysts. New target price is 7.8% below last closing price of ₹5,009. Stock is up 16% over the past year. The company is forecast to post earnings per share of ₹103 for next year compared to ₹93.55 last year. Price Target Changed • Apr 16
Price target decreased by 10.0% to ₹4,311 Down from ₹4,788, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of ₹4,477. Stock is down 4.4% over the past year. The company is forecast to post earnings per share of ₹96.25 for next year compared to ₹93.55 last year. Reported Earnings • Apr 06
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: ₹93.55 (up from ₹90.08 in FY 2023). Revenue: ₹32.6b (up 3.8% from FY 2023). Net income: ₹6.84b (up 3.9% from FY 2023). Profit margin: 21% (in line with FY 2023). Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 2.6%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Capital Markets industry in India. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 8% per year. Upcoming Dividend • Apr 04
Upcoming dividend of ₹26.00 per share Eligible shareholders must have bought the stock before 11 April 2025. Payment date: 06 May 2025. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of Indian dividend payers (1.4%). In line with average of industry peers (1.3%). Announcement • Apr 01
CRISIL Limited to Report Q1, 2025 Results on Apr 30, 2025 CRISIL Limited announced that they will report Q1, 2025 results on Apr 30, 2025 Announcement • Feb 28
CRISIL Limited Announces Executive Changes ,Effective March 1, 2025 CRISIL Limited notified changes to Senior Management Personnel (SMP) of the Company as the result of the above: Ms. Priti Arora (President - Global Capabilities Centre), Ms. Preeti Balwani (General Counsel), Ms. Sharmila Shah (Chief Marketing Officer) and Mr. Krishnan Sitaraman (Chief Ratings Officer - Crisil Ratings) will not be SMP of the Company due to change in their reporting hierarchy and/or operating structure change. · Mr. Ashish Vora will take up a new role as President and Business Head - Data and Analytics. Date of appointment: March 1, 2025. Announcement • Feb 11
CRISIL Limited, Annual General Meeting, Apr 30, 2025 CRISIL Limited, Annual General Meeting, Apr 30, 2025. Reported Earnings • Feb 11
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: ₹93.55 (up from ₹90.08 in FY 2023). Revenue: ₹32.6b (up 3.8% from FY 2023). Net income: ₹6.84b (up 3.9% from FY 2023). Profit margin: 21% (in line with FY 2023). Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 2.6%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Capital Markets industry in India. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 10
CRISIL Limited Recommends Final Dividend for the Financial Year Ended December 31, 2024 The Board of Directors of CRISIL Limited has also recommended final dividend of INR 26, per equity share of face value of INR 1 each, for the financial year ended December 31, 2024, subject to the approval of the shareholders at the upcoming Annual General Meeting, at the Meeting of the Board of Directors of the Company, held on February 10, 2025. Announcement • Feb 04
Crisil Limited Appoints Ramkumar Uppara as Director - PR and Communications Ramkumar Uppara has joined Crisil Ltd. as a Director - PR and Communications. In his new role, he will oversee Crisil's India and Global PR and communication and manage CXO communications and media relations. Ramkumar is a seasoned communications specialist with over two decades of experience in corporate communications and public relations. He has worked with leading organizations like Ujjavan Small Finance Bank, Ketchum Sampark Pvt Ltd, Glenmark Pharmaceuticals, and Concept Public Relations Pvt. Ltd. and spearheaded numerous transformative campaigns and initiatives. He has a diverse background, with expertise in driving comprehensive PR strategies across various sectors, including Pharma & Healthcare, Real Estate & Infrastructure, and Banking & Finance. Announcement • Jan 02
CRISIL Limited to Report Fiscal Year 2024 Results on Feb 10, 2025 CRISIL Limited announced that they will report fiscal year 2024 results on Feb 10, 2025 Valuation Update With 7 Day Price Move • Dec 31
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹6,684, the stock trades at a forward P/E ratio of 62x. Average forward P/E is 32x in the Capital Markets industry in India. Total returns to shareholders of 142% over the past three years. Price Target Changed • Nov 12
Price target increased by 12% to ₹4,862 Up from ₹4,332, the current price target is an average from 2 analysts. New target price is 11% below last closing price of ₹5,462. Stock is up 32% over the past year. The company is forecast to post earnings per share of ₹95.85 for next year compared to ₹90.08 last year. Announcement • Oct 29
CRISIL Limited Announces Chief Financial Officer Changes CRISIL Limited announced that Mr. Sanjay Chakravarti will transition from his current role as Chief Financial Officer to fully dedicate time as President - Risk and Compliance. Mr. Dinesh Venkatasubramanian will join as Chief Financial Officer and Key Managerial Personnel (KMP) of the Company. Date of appointment, October 28, 2024. Dinesh Venkatasubramanian is a seasoned financial services professional with over 31 years of experience across the BFSI sector,
having held senior roles in three major multinational banks and having founded two successful startups. His expertise spans product development, business management, analytics, and risk management. With a decade of entrepreneurial experience in Technology and Analytics, Dinesh scaled and exited one startup while building strategic partnerships throughout his career. Previously, he spent 17 years with Citibank and Standard Chartered Bank and most recently led Strategy & Planning, Transformation, Data & Analytics at DBS Bank India. Dinesh is a Chartered Accountant by profession. He is known for his deep industry knowledge and impactful leadership. Upcoming Dividend • Oct 23
Upcoming dividend of ₹15.00 per share Eligible shareholders must have bought the stock before 30 October 2024. Payment date: 13 November 2024. Payout ratio is a comfortable 63% and this is well supported by cash flows. Trailing yield: 1.1%. Within top quartile of Indian dividend payers (1.1%). In line with average of industry peers (1.2%). Reported Earnings • Oct 17
Third quarter 2024 earnings released: EPS: ₹23.46 (vs ₹20.79 in 3Q 2023) Third quarter 2024 results: EPS: ₹23.46 (up from ₹20.79 in 3Q 2023). Revenue: ₹8.12b (up 10% from 3Q 2023). Net income: ₹1.72b (up 13% from 3Q 2023). Profit margin: 21% (in line with 3Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Capital Markets industry in India. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 16
CRISIL Limited Approves Third Interim Dividend for the Financial Year Ending December 31, 2024, Payable on November 13, 2024 CRISIL Limited announced that at its board meeting held on October 16, 2024, the board of directors has approved the payment of third interim dividend of INR 15 per equity share of face value of INR 1 each, for the financial year ending December 31, 2024, which will be paid on November 13, 2024. Announcement • Oct 10
Crisil Limited Announces Resignation of Jan Larsen as President and Head of Global Research and Risk Solutions, Member of the Senior Management, Effective February 28, 2025 CRISIL Limited announced that Mr. Jan Larsen, President and Head of Global Research and Risk Solutions, member of the Senior Management of the Company, has tendered his resignation on October 9, 2024; date of cessation: February 28, 2025. Announcement • Oct 01
CRISIL Limited to Report Q3, 2024 Results on Oct 16, 2024 CRISIL Limited announced that they will report Q3, 2024 results on Oct 16, 2024 Announcement • Aug 10
CRISIL Limited Announces Management Changes, Effective August 12, 2024 CRISIL Limited announced the role alignment changes in Company's Senior Management Group effective August 12, 2024: Gurpreet Chhatwal will transition from his current role as Managing Director of CRISIL Ratings Limited to Chief Operating Officer for CRISIL Limited. Subodh Rai will transition from his current role as President - Risk and Compliance for CRISIL Limited to Managing Director of CRISIL Ratings Limited. Sanjay Chakravarti in addition to his current responsibilities as Chief Financial Officer (CFO) of CRISIL Limited will head the Risk and Compliance function for CRISIL. Mr. Gurpreet Chhatwal is an existing member of the Senior Management group of CRISIL. Mr. Subodh Rai is an existing member of the Senior Management group of CRISIL. Mr. Sanjay Chaktravarti is an existing member of the Senior Management group of CRISIL. Reported Earnings • Jul 18
Second quarter 2024 earnings released: EPS: ₹20.53 (vs ₹20.60 in 2Q 2023) Second quarter 2024 results: EPS: ₹20.53 (down from ₹20.60 in 2Q 2023). Revenue: ₹7.97b (up 3.4% from 2Q 2023). Net income: ₹1.50b (flat on 2Q 2023). Profit margin: 19% (in line with 2Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Capital Markets industry in India. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 11% per year. Declared Dividend • Jul 18
Second quarter dividend of ₹8.00 announced Shareholders will receive a dividend of ₹8.00. Ex-date: 31st July 2024 Payment date: 12th August 2024 Dividend yield will be 1.3%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (61% earnings payout ratio) and cash flows (53% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 33% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jul 02
CRISIL Limited to Report Q2, 2024 Results on Jul 16, 2024 CRISIL Limited announced that they will report Q2, 2024 results on Jul 16, 2024 Announcement • Apr 19
CRISIL Limited Approves Final Dividend for the Year Ended December 31, 2023 CRISIL Limited at its AGM held on April 16, 2024 approved to declare final dividend on equity shares of INR 28 per equity share and to approve and confirm the declaration and payment of three interim dividends aggregating INR 26 per equity share for the year ended December 31, 2023. Declared Dividend • Apr 18
Dividend of ₹7.00 announced Shareholders will receive a dividend of ₹7.00. Ex-date: 3rd May 2024 Payment date: 14th May 2024 Dividend yield will be 1.2%, which is lower than the industry average of 1.3%. Sustainability & Growth Dividend is covered by both earnings (61% earnings payout ratio) and cash flows (55% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 40% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 09
CRISIL Limited to Report Q1, 2024 Results on Apr 16, 2024 CRISIL Limited announced that they will report Q1, 2024 results on Apr 16, 2024 Reported Earnings • Mar 26
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: ₹90.08 (up from ₹77.31 in FY 2022). Revenue: ₹31.4b (up 13% from FY 2022). Net income: ₹6.58b (up 17% from FY 2022). Profit margin: 21% (in line with FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.7%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Capital Markets industry in India. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Mar 21
Upcoming dividend of ₹28.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 22 April 2024. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Indian dividend payers (1.3%). Lower than average of industry peers (1.4%). Price Target Changed • Mar 15
Price target increased by 25% to ₹4,365 Up from ₹3,506, the current price target is an average from 2 analysts. New target price is 12% below last closing price of ₹4,964. Stock is up 66% over the past year. The company is forecast to post earnings per share of ₹98.05 for next year compared to ₹90.08 last year. Price Target Changed • Feb 19
Price target increased by 9.3% to ₹3,706 Up from ₹3,391, the current price target is an average from 2 analysts. New target price is 26% below last closing price of ₹5,039. Stock is up 56% over the past year. The company is forecast to post earnings per share of ₹99.00 for next year compared to ₹90.08 last year. Reported Earnings • Feb 17
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: ₹90.08 (up from ₹77.31 in FY 2022). Revenue: ₹32.5b (up 17% from FY 2022). Net income: ₹6.58b (up 17% from FY 2022). Profit margin: 20% (in line with FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.7%. Revenue is forecast to grow 9.6% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Capital Markets industry in India. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 16
CRISIL Limited Recommends Final Dividend for the Financial Year Ended December 31, 2023 CRISIL Limited announced that at its Meeting of the Board of Directors held on February 16, 2024, the Board of Directors has also recommended final dividend of INR 28, per equity share of face value of INR 1 each, for the financial year ended December 31, 2023, subject to the approval of the shareholders at the upcoming Annual General Meeting. Announcement • Feb 13
CRISIL Limited Appoints Pooja Mirchandani as President - Human Resources CRISIL Limited announced that Ms. Pooja Mirchandani has been elevated as President - Human Resources and will form part of the Senior Management Group of the Company, with effect from February 13, 2024. Ms. Mirchandani has more than 20 years of experience in talent acquisition, learning and organization development and corporate functions. She has been associated with Company as the Global Head of Talent Acquisition, learning, Organization Development and Effectiveness since June 2022. Ms. Pooja Mirchandani is alumni from Welingkar Institute of Management, where she pursued her Master of Business Administration. Prior to joining CRISIL, Ms Mirchandani was associated with WNS Global Services, Standard Chartered Bank and Standard Chartered finance Limited. Board Change • Feb 10
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Nishi Vasudeva was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Feb 08
CRISIL Limited to Report Q4, 2023 Results on Feb 15, 2024 CRISIL Limited announced that they will report Q4, 2023 results on Feb 15, 2024 Announcement • Dec 09
CRISIL Limited Announces Resignation of Ewout Steenbergen as Director and Chairman, Effective February 16, 2024 CRISIL Limited announced that release issued by S&P Global Inc., regarding the decision of Mr. Ewout Steenbergen to leave S&P Global Inc. in March 2024 to pursue a new professional opportunity. Pursuant to this move, Mr. Steenbergen will step down from the CRISIL Board as Director and Chairman. Date of appointment cessation is February 16, 2024. Steenbergen played an instrumental role in acquiring Kensho, S&P Global's artificial intelligence and innovation hub. He was a core member of the S&P Global leadership teamthat completed the company's historic merger with IHS Markit in 2022, and served as President of the Engineering Solutions division prior to the company's divestiture in May 2023. Steenbergen also drove the introduction of new performance metrics, including the climate-adjusted earnings per share and S&P Global's vitality index, a measure of the percentage of revenues derived from new or enhanced products. Under his leadership, S&P Global's investor relations program has consistently received recognition from investors and analysts alike. Upcoming Dividend • Nov 15
Upcoming dividend of ₹11.00 per share at 1.2% yield Eligible shareholders must have bought the stock before 22 November 2023. Payment date: 05 December 2023. Payout ratio is a comfortable 59% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of Indian dividend payers (1.3%). Lower than average of industry peers (1.6%). Reported Earnings • Nov 08
Third quarter 2023 earnings released: EPS: ₹20.79 (vs ₹20.24 in 3Q 2022) Third quarter 2023 results: EPS: ₹20.79 (up from ₹20.24 in 3Q 2022). Revenue: ₹7.72b (up 13% from 3Q 2022). Net income: ₹1.52b (up 2.8% from 3Q 2022). Profit margin: 20% (down from 22% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Capital Markets industry in India. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jul 26
Upcoming dividend of ₹8.00 per share at 1.3% yield Eligible shareholders must have bought the stock before 02 August 2023. Payment date: 14 August 2023. Payout ratio is a comfortable 58% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (2.0%). Reported Earnings • Jul 20
Second quarter 2023 earnings released: EPS: ₹20.60 (vs ₹18.75 in 2Q 2022) Second quarter 2023 results: EPS: ₹20.60 (up from ₹18.75 in 2Q 2022). Revenue: ₹7.89b (up 18% from 2Q 2022). Net income: ₹1.51b (up 10.0% from 2Q 2022). Profit margin: 19% (down from 21% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Capital Markets industry in India. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 12
CRISIL Limited to Report Q2, 2023 Results on Jul 18, 2023 CRISIL Limited announced that they will report Q2, 2023 results on Jul 18, 2023 Board Change • May 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director GIRISH GANESAN was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Apr 27
Price target increased by 9.4% to ₹3,711 Up from ₹3,391, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of ₹3,569. Stock is down 0.5% over the past year. The company is forecast to post earnings per share of ₹82.10 for next year compared to ₹77.31 last year. Upcoming Dividend • Apr 27
Upcoming dividend of ₹7.00 per share at 1.3% yield Eligible shareholders must have bought the stock before 04 May 2023. Payment date: 16 May 2023. Payout ratio is a comfortable 60% and the cash payout ratio is 83%. Trailing yield: 1.3%. Lower than top quartile of Indian dividend payers (1.6%). Lower than average of industry peers (2.5%). Price Target Changed • Apr 20
Price target increased by 10.0% to ₹3,711 Up from ₹3,375, the current price target is provided by 1 analyst. New target price is 12% above last closing price of ₹3,307. Stock is up 1.9% over the past year. The company posted earnings per share of ₹77.31 last year. Reported Earnings • Mar 26
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: ₹77.31 (up from ₹64.03 in FY 2021). Revenue: ₹27.7b (up 20% from FY 2021). Net income: ₹5.64b (up 21% from FY 2021). Profit margin: 20% (in line with FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.1%. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Capital Markets industry in India. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Mar 24
Upcoming dividend of ₹23.00 per share at 1.5% yield Eligible shareholders must have bought the stock before 31 March 2023. Payment date: 18 May 2023. Payout ratio is a comfortable 51% and the cash payout ratio is 95%. Trailing yield: 1.5%. Lower than top quartile of Indian dividend payers (1.8%). Lower than average of industry peers (2.5%). Announcement • Feb 19
CRISIL Limited, Annual General Meeting, Apr 18, 2023 CRISIL Limited, Annual General Meeting, Apr 18, 2023. Agenda: To consider final dividend for the financial year ended December 31, 2022; to consider board changes. Announcement • Feb 18
CRISIL Limited Recommends Final Dividend for the Financial Year Ended December 31, 2022 CRISIL Limited at its board meeting held on February 17, 2023 recommended final dividend of INR 23, per equity share of face value of INR 1 each, for the financial year ended December 31, 2022, subject to the approval of theshareholders at the upcoming Annual General Meeting to be held on April 18, 2023. Announcement • Feb 09
CRISIL Limited to Report Q4, 2022 Results between Feb 16, 2023 and Feb 17, 2023 CRISIL Limited announced that they will report Q4, 2022 results between Feb 16, 2023 and Feb 17, 2023 Price Target Changed • Nov 23
Price target decreased to ₹3,375 Down from ₹3,708, the current price target is provided by 1 analyst. New target price is 13% above last closing price of ₹2,982. Stock is down 7.4% over the past year. The company is forecast to post earnings per share of ₹78.10 for next year compared to ₹64.03 last year. Upcoming Dividend • Oct 28
Upcoming dividend of ₹10.00 per share Eligible shareholders must have bought the stock before 04 November 2022. Payment date: 18 November 2022. Payout ratio is a comfortable 51% and the cash payout ratio is 95%. Trailing yield: 1.3%. Lower than top quartile of Indian dividend payers (1.6%). Lower than average of industry peers (2.2%). Reported Earnings • Oct 23
Third quarter 2022 earnings released: EPS: ₹20.24 (vs ₹15.51 in 3Q 2021) Third quarter 2022 results: EPS: ₹20.24 (up from ₹15.51 in 3Q 2021). Revenue: ₹6.83b (up 20% from 3Q 2021). Net income: ₹1.48b (up 31% from 3Q 2021). Profit margin: 22% (up from 20% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Capital Markets industry in India. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 22
CRISIL Limited Approves Interim Dividend for the Financial Year Ending December 31, 2022, Payable on November 18, 2022 CRISIL Limited at its board meeting held on October 21, 2022, approved the payment of Interim dividend of INR 10 per equity share of face value of INR 1 each, for the financial year ending December 31, 2022, which will be paid on November 18, 2022. Announcement • Oct 14
CRISIL Limited to Report Q3, 2022 Results on Oct 21, 2022 CRISIL Limited announced that they will report Q3, 2022 results at 4:00 PM, Indian Standard Time on Oct 21, 2022 Announcement • Oct 04
Crisil Limited Announces Appointment of Mr. Yann Le Pallec as an Additional Director (Non-Executive) CRISIL Limited announced that the Board has approved appointment of Mr. Yann Le Pallec (DIN: 05173118) as an Additional Director (Non-Executive) of the Company, with effect from October 3, 2022. The brief profile of the appointed Director is annexed. Mr. Yann Le Pallec is Executive Managing Director and Head of Global Ratings Services. He is based in Paris and is a member of the S&P Global Ratings Executive Committee. Mr. Le Pallec oversees a group of 2,200 analysts and support staff present in 28 countries and covering more than one million outstanding ratings on entities and securities across a wide range of sectors including governments, corporations, financial institutions and structured finance. Mr. Le Pallec has held a diverse set of responsibilities in his career at S&P. In 2016, he was Head of Global Corporate Ratings, a group composed of 500 analysts responsible for analyzing over 4,000 non-financial corporations worldwide. From 2011 until 2015, he was responsible for S&P's market leading credit ratings business in EMEA, leading a team of over 900 rating analysts and support staff operating from 12 offices. From 2011 until 2015, he was responsible for S&P's market leading credit ratings business in EMEA, leading a team of over 900 rating analysts and support staff operating from 12 offices. Previously, Mr. Le Pallec was Head of EMEA Corporate and Government Ratings, after occupying various managerial and analytical positions in the Insurance and Sovereign & Public Sector groups.Mr. Le Pallec was previously a member of the CRISIL Board from February 17, 2012 to July 19, 2016; he resigned pursuant to a role change at S&P Global Ratings. Before joining S&P in 1999, Mr. Yann Le Pallec was a Senior Manager with the Paris-based audit firm Salustro Reydel. Mr. Le Pallec holds a master's degree in Business from Ecole Supérieure des Sciences Economique et Commerciales (ESSEC) in France. Upcoming Dividend • Jul 28
Upcoming dividend of ₹8.00 per share Eligible shareholders must have bought the stock before 04 August 2022. Payment date: 18 August 2022. Payout ratio is a comfortable 53% but the company is paying out more than the cash it is generating. Trailing yield: 1.2%. Lower than top quartile of Indian dividend payers (1.8%). Lower than average of industry peers (2.4%). Announcement • Jul 23
CRISIL Limited Announces Resignation of Ms. Elizabeth Mann as Director CRISIL Limited announced that Ms. Elizabeth Mann (DIN: 09407237) has submitted her resignation as a director of the Company. The Board has noted resignation of Ms. Elizabeth Mann as a director of the Company with effect from the close of business hours of July 22, 2022. Announcement • Jul 22
CRISIL Limited Approves Interim Dividend for the Financial Year Ending December 31, 2022, Payable on August 18, 2022 CRISIL Limited announced that at its board meeting held on July 21, 2022, the Board of Directors approved the payment of Interim dividend of INR 8 per equity share of face value of INR 1 each, for the financial year ending December 31, 2022, which will be paid on August 18, 2022. Reported Earnings • Jul 22
Second quarter 2022 earnings released: EPS: ₹18.75 (vs ₹13.86 in 2Q 2021) Second quarter 2022 results: EPS: ₹18.75 (up from ₹13.86 in 2Q 2021). Revenue: ₹7.04b (up 33% from 2Q 2021). Net income: ₹1.37b (up 36% from 2Q 2021). Profit margin: 20% (in line with 2Q 2021). Over the next year, revenue is forecast to grow 11%, compared to a 3.8% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 15
CRISIL Limited to Report Q2, 2022 Results on Jul 21, 2022 CRISIL Limited announced that they will report Q2, 2022 results at 4:00 AM, Indian Standard Time on Jul 21, 2022 Valuation Update With 7 Day Price Move • May 18
Investor sentiment improved over the past week After last week's 17% share price gain to ₹3,742, the stock trades at a forward P/E ratio of 46x. Average forward P/E is 19x in the Capital Markets industry in India. Total returns to shareholders of 178% over the past three years. Upcoming Dividend • Apr 29
Upcoming dividend of ₹7.00 per share Eligible shareholders must have bought the stock before 06 May 2022. Payment date: 19 May 2022. Payout ratio is a comfortable 56% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Indian dividend payers (1.4%). Lower than average of industry peers (2.0%). Reported Earnings • Apr 27
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: ₹16.68 (up from ₹11.50 in 1Q 2021). Revenue: ₹5.95b (up 20% from 1Q 2021). Net income: ₹1.22b (up 46% from 1Q 2021). Profit margin: 20% (up from 17% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) also surpassed analyst estimates by 6.6%. Over the next year, revenue is forecast to grow 14%, compared to a 10% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. 
