Quarter Ended: March 2026
CRISIL Ltd – Q4 FY26 Results Analysis
NSE
crisil
BSE
500092
CRISIL delivered solid growth across segments with strong operating leverage, reinforcing its high-quality, asset-light business model.
key financial highlights
- Revenue from Operations:
- Q4 FY26 Revenue: ₹1,057.66 crore
- QoQ Change: -2.2% (from ₹1,081.57 crore)
- YoY Change: +30.1% (from ₹813.18 crore)
- Strong YoY growth driven by analytics and research segment
- Profit After Tax (PAT):
- Q4 FY26 PAT: ₹233.26 crore
- QoQ Change: -3.4% (from ₹241.50 crore)
- YoY Change: +46.0% (from ₹159.84 crore)
- Profit growth remains strong YoY despite slight QoQ moderation
- QoQ Trend Insight:
- Revenue Trend: Slight Decline
- Profit Trend: Slight Decline
Margin Analysis
- Strong growth in Research, Analytics & Solutions segment
- Stable cost structure despite expansion
- High operating leverage
Key Signal: Margins remain consistently strong, reflecting premium business model
Segment performance
Segment Breakdown:
Ratings Services
- Revenue: ₹322.63 crore
- Insights:
- Stable growth
- Core domestic rating business
Research, Analytics & Solutions
- Revenue: ₹735.63 crore
- Insights:
- Major growth driver
- Strong global demand
- Higher margin segment
Segment Insight:
- Analytics segment contributes ~70%+ of revenue
- Business shifting towards global, high-margin analytics
- Diversified revenue reduces dependence on rating cycle
Earning quality check
Drivers:
- Recurring, subscription-based revenue
- Asset-light business model
- No reliance on exceptional items
Interpretation: Earnings quality is very high and sustainable
key risks
- Global economic slowdown affecting analytics demand
- Regulatory changes in rating business
- Currency fluctuations (global exposure)
- Competition from global analytics firms
management strategy
- Expanding global analytics business
- Strengthening digital capabilities
- Diversifying revenue streams
Financial Metrics
| Particular | In ₹ Crore | Q.O.Q (%) | Y.O.Y(%) |
|---|---|---|---|
| Total Income | 1,093.67 | +0.5 | +29.7 |
| PBT | 308.38 | -5.6 | +35.6 |
| PAT | 233.26 | -3.4 | +46 |
| EPS | 31.90 | -3.4 | +45.9 |
CRISIL delivered a strong and high-quality quarter, with robust YoY growth and stable margins. The increasing contribution from analytics makes it a structurally strong business with long-term growth visibility.
Official Exchange Filing: CRISIL Ltd
Quarterly Performance Context
REVENUE ACHIEVMENT
100%
COST OF OPERATIONS
74%
NET PROFIT
22%
FISCAL YEAR
2025-2026
AUDIT STATUS
REVIEWED