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CrisilCRISIL.NSCompetitor analysis, valuation and peers

India · INR·IT›Internet Software/Services

India's leading credit rating agency, majority owned by S&P Global, also providing research and analytics services.

≈ India's Moody's/S&P equivalent, majority-owned by S&P GlobalMomentum neutral 59
Mkt cap
$3.40B
US dollars, full cap
Free float
28%
of shares outstanding
$/day
$2.27M
20-day average traded
Fwd P/E
35.0×
forward earnings
ROIC−WACC
n/a
WACC 10.6%
Hurdle
n/a
no reverse DCF
Next earnings
98 days
12 Feb 2027
Close · INR₹4,395
1D-0.8%
1W-2.7%
1M-2.5%
3M-3.4%
6M+5.9%
YTD+1.7%
1Y-11.3%
ATR %3.4%
Beta0.52
52w lowhigh12.0% off high

What Crisil does

India's leading credit rating agency, majority owned by S&P Global, also providing research and analytics services.

Rated companies pay it fees, an issuer-pays model in which the borrower funds the rating; a large part of its income comes from analytics and research support sold to global financial firms, S&P Global among them. S&P Global holds the majority of the company.

In one line: India's Moody's/S&P equivalent, majority-owned by S&P Global.

Products and services

  • Credit ratings
  • Research & analytics
  • Risk & regulatory solutions software

Customers

  • Corporate/financial-institution debt issuers
  • Banks & investors (research subscriptions)

Where it sits in the supply chain

  • Financial services
  • Credit ratings & research
  • Ratings, research and analytics

What could go right

  • India corporate bond market growth
  • Cross-sell of analytics/research services

What could go wrong

  • Rating-fee revenue tied to debt issuance cycles
  • Regulatory scrutiny of rating agencies

Moat: wide (brand, regulatory licence, switching costs). SEBI-recognized rating agency status and S&P Global backing give scale and brand trust hard to replicate.

Headquarters: Mumbai, India · Founded: 1987 · Employees: 6,157

Named competitors

Crisil at a glance

Size Crisil (CRISIL.NS) is an India Information Technology company (Internet Software/Services) with a market value of $3.40B, the 262nd largest of 1,058 India companies the cockpit tracks. Shares closed at ₹4,395 on 6 Nov 2026.

Performance Over six months the shares gained 5.9%, against -3.1% for the median peer and 0.0% for the India market (cap-weighted) — 10th highest of 20 in its peer set.

Growth Revenue grew 23.8% over the last twelve months (peer median +6.8%); the operating margin is 25.7% (peer median 11.5%).

Valuation It trades at 35.0× forward earnings against a peer median of 28.8× (9th most expensive of 19).

Next results Next results expected around 12 Feb 2027 (exchange calendar; dates can move).

Relative performance

9010011011 May 202611 Aug 20266 Nov 2026CRISIL.NS 106Peer median 101
Six months, rebased to 100: Crisil against the median of its 20 peers (local-currency closes).

Crisil financials

Reported figures in INR; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue₹43.1B₹36.5B₹32.6B₹31.4B₹27.7B
Revenue growth—+12%+4%+13%—
Gross profit₹14.9B₹14.2B₹12.7B₹11.2B₹8.44B
EBITDA₹12.7B₹11.0B₹9.23B₹8.92B₹7.39B
Net income₹8.96B₹7.66B₹6.84B₹6.58B₹5.64B
Free cash flown/a₹6.99B₹6.03B₹7.32B₹4.19B
Capital expendituren/a₹734M₹1.73B₹629M₹411M
Total debtn/a₹2.97B₹2.50B₹473M₹835M

Quarterly statements and history in the cockpit →

Crisil competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

-50%0%+50%+100%0%+25%+50%SEKPPLISMG603000ABSLAMCAG1DAOPOLICYBZRBRZERMVAUTOTBOTEKZDG24CRISIL.NS6-month return →1-month return →
Up and to the right = strong over both horizons. Crisil is the large dot.

Fundamentals: revenue growth against valuation

-25%0%+25%+50%+75%0×100×200×300×SEKPPLISMG603000ABSLAMCDAOPOLICYBZR300253VENDBRZETBOTEKZDCRISIL.NSRevenue growth (TTM) →Forward P/E →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Crisil is the large dot.

Crisil competitors and peer comparison

Head to head with its named competitors (CRISIL.NS vs ICRA.NS vs CARERATING.NS)
CompanyMarket cap6M returnRevenue growthOp. marginForward P/EReq g
Crisil CRISIL.NS$3.40B+6%+24%26%35.0×n/a
ICRA ICRA.NS$452M-18%+31%30%19.6×n/a
CARE Ratings CARERATING.NS$499M-5%+19%40%23.3×n/a

How Crisil compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Crisil against its 20 peers (data as of 6 Nov 2026)
MeasureCRISIL.NSPeer medianRank in peer set
1-month return-2.5%+8.8%5th lowest of 21
6-month return+5.9%-3.1%10th highest of 20
Distance from 52-week high-12.0%-27.7%6th highest of 21
Revenue growth (TTM)+23.8%+6.8%4th highest of 21
Operating margin25.7%11.5%9th highest of 21
Forward P/E35.0×28.8×9th most expensive of 19

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginForward P/EReq gDelivered g
Crisil CRISIL.NSIndia$3.40B+6%+24%26%35.0×n/an/a
Seek SEK.AXAustralia$3.59B+8%+17%24%25.8×17.7%+11.1%
People PPLIUnited States$3.16B-4%-29%2%38.9×36.5%-2.8%
SMG Swiss Marketplace SMG.SWSwitzerland$3.77B+7%+13%35%23.9×5.8%+12.4%
People.cn 603000.SSChina$2.69B-15%0%12%77.2×28.6%-0.4%
Aditya Birla Sun Life Amc ABSLAMC.NSIndia$2.68B-19%+4%60%23.9×n/an/a
AUTO1 AG1.DEGermany$4.34B-14%+21%1%29.2×n/an/a
Youdao, Inc. Sponsored ADR DAOUnited States$2.50B+59%+10%4%59.4×33.6%+17.6%
Shanghai Great Wisdom 601519.SSChina$2.49B-18%+6%-8%n/an/an/a
PB Fintech POLICYBZR.NSIndia$4.74B-43%+37%7%41.0×n/an/a
Winning Health Technology 300253.SZChina$2.31B-19%+6%-20%351.5×18.9%-1.4%
Vend Marketplaces VEND.OLNorway$5.11B-4%-14%29%35.2×10.7%-13.2%
Braze BRZEUnited States$5.20B+111%+27%-13%57.1×27.9%+37.5%
Rightmove RMV.LUnited Kingdom$5.38B+35%+7%66%18.1×11.6%+15.6%
Autotrader AUTO.LUnited Kingdom$5.68B+12%+4%62%14.3×-0.7%+18.9%
Mobility Global MBGLUnited States$5.79Bn/a+8%51%13.2×-6.0%+8.5%
XinhuaNet 603888.SSChina$1.89B-7%-1%8%n/a22.6%+9.3%
TBO Tek TBOTEK.NSIndia$1.80B+24%+74%11%41.6×n/an/a
Ziff Davis ZDUnited States$1.70B+21%-8%10%8.9×-10.6%+4.6%
CAR CAR.AXAustralia$6.85B-3%+6%38%28.5×21.8%+24.0%
Scout24 G24.DEGermany$6.99B+19%+16%49%22.3×10.3%+12.9%

Questions

Who are Crisil's main competitors?
Named competitors: ICRA (ICRA.NS), CARE Ratings (CARERATING.NS). The cockpit's measured peer set (industry) also includes Seek (SEK.AX), People (PPLI), SMG Swiss Marketplace (SMG.SW), People.cn (603000.SS), Aditya Birla Sun Life Amc (ABSLAMC.NS), AUTO1 (AG1.DE).
Is Crisil expensive compared with its peers?
On forward p/e it trades at 35.0× against a peer median of 28.8×, 9th most expensive of 19 in its peer set.
How has Crisil stock performed?
Over six months to 6 Nov 2026 the shares returned +5.9% against -3.1% for the median peer; over one year -11.3%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.