Crisil shares in focus after announcing its Q4 results

Synopsis: A leading credit rating and research analytics firm sees its research and analytics wing emerge as the dominant revenue driver, even as both segments post strong year-on-year growth in Q4 FY26.

Credit rating company reported its financial results for the last quarter ended March 31, 2026, showing strong year-on-year growth across revenue, operating profit, and net profit. The results were approved by the Board of Directors on April 17, 2026. The board also declared an interim dividend of 900 percent i.e. Rs. 9 per share ,to be paid on May 8, 2026.

With a market cap of Rs. 31,863 Crore, the shares of Crisil Ltd. closed at price of Rs. 4335 per share i.e. 3.44 percent up from its previous closing price of Rs 4191. It is currently trading at a P/E ratio of 38.

Crisil Q4 FY26: Research & Analytics Arm Leads Revenue Surge, Contributes 70% to Top Line

Revenue and Volume

Crisil Limited reported consolidated revenue from operations of Rs. 1,058 crore in Q4 FY26, up 30.1% from Rs. 813 crore in Q4 FY25. The growth was largely driven by its Research, Analytics & Solutions segment, which contributed nearly 70% of total revenue during the quarter. Sequentially, revenue declined 2.2% from Rs. 1,082 crore in Q4 FY25. Total income, including other income of Rs. 36.01 crore, stood at Rs. 1,093.67 crore for the quarter, compared to Rs. 843.77 crore in the same period last year, a rise of 29.6% year-on-year.

EBITDA & Expenses

Total expenses for the quarter came in at Rs. 785.29 crore, up 27.4% from Rs. 616.50 crore in Q4 FY25. Employee benefit expenses, the largest cost head, rose 30.2% year-on-year to Rs. 556.14 crore, reflecting the people-heavy nature of the RAS business. Total segment operating profit stood at Rs. 329.85 crore in Q4 FY26, up 41.3% from Rs. 233.38 crore in Q4 FY25. The RAS segment was the key contributor to this expansion, with its segment profit jumping 67% year-on-year, far outpacing the 22.1% growth seen in the Ratings segment. Sequentially, total segment operating profit was nearly flat, rising 0.5% from Rs. 328.33 crore in Q4 FY25.

Net Profit

Crisil posted a consolidated net profit of Rs. 233.26 crore in Q4 FY26, up 45.9% from Rs. 159.84 crore in Q4 FY25. The strong bottom-line performance was underpinned by the RAS segment’s outsized profit growth, which saw segment profit rise to Rs. 166.93 crore from Rs. 99.99 crore in Q4 FY25. Sequentially, net profit declined 3.4% from Rs. 241.50 crore in Q3 FY26. Basic earnings per share for the quarter stood at Rs. 31.90, compared to Rs. 21.86 in Q4 FY25, a rise of 45.9% year-on-year.

Segment-wise Revenue

Crisil operates through two segments – Ratings Services, and Research, Analytics & Solutions. The RAS segment was the clear revenue leader in Q4 FY26, reporting revenue of Rs. 735.63 crore, up 34.9% year-on-year from Rs. 545.30 crore in Q4 FY25, and accounting for approximately 69.6% of total consolidated revenue from operations. RAS segment profit rose 67% to Rs. 166.93 crore from Rs. 99.99 crore in the year-ago period. The Ratings Services segment, while smaller, also delivered steady growth, with revenue rising 20.2% year-on-year to Rs. 322.63 crore from Rs. 268.41 crore, and segment profit growing 22.1% to Rs. 162.92 crore from Rs. 133.39 crore in Q1 FY25.

About Crisil Ltd

Crisil Limited is a leading ratings, data, research, and analytics company headquartered in Mumbai. It is a subsidiary of S&P Global and operates across two key segments – Ratings Services and Research, Analytics & Solutions. The company serves clients across financial services, corporates, and government institutions in India and globally, with a presence in over 40 countries.

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