Crisil Limited · NSE:CRISIL
Crisil — Q1 2025 Earnings Presentation
27 slides from Crisil's earnings presentation, May 1, 2025
Slide 1: Intimation of Investor Presentation
Crisil a company of S&P Global May 1, 2025 Listing Department Listing Department National Stock Exchange of India Ltd. BSE Limited Exchange Plaza, 5th floor P J Towers Plot No. C/1, G Block Dalal Street Bandra-Kurla Complex Mumbai 400 001 Bandra (East) Mumbai 400 051 Dear Sirs, Sub.: Intimation of I
Slide 2: Analyst presentation
May 2025 Analyst presentation 1 © © 2025 CRISIL Ltd. 2025 CRISIL All rights Ltd. All reserved. rights reserved.
Slide 3: Disclaimer / Safe harbour
Disclaimer / Safe harbour This presentation has been prepared solely as a concise update of Crisil Limited’s (“Crisil” or “Company”) quarterly and/or annual results. By reading the presentation slides, you agree to be bound by the following limitations: (a) Crisil cannot give assurance to the correc
Slide 4: Agenda
Agenda •► 1. Crisil overview I ♦ I 2. Business environment ♦ 3. Performance update © 2025 CRISIL Ltd. All rights reserved. ♦ .11 ► 4. Financials ♦ •► 5. Segment performance ♦ •► 6. Thought leadership ♦ •► 7. Corporate social responsibility ♦ •► 8. Risks ♦ 3 Crisil a company of S&P Global
Slide 5: Overview and our new brand identity
Overview and our new brand identity Crisil is a global, insights-driven analytics organisation whose extraordinary rigour and domain expertise give clients the confidence to make mission-critical decisions. • Our new brand identity reinforces our position as a global, insights-driven analytics organ
Slide 6: Global presence
Global presence 4,600+ employees globally Certified ‘Great Place to Work’ United Kingdom Switzerland ~ iii China i::L'n in India for 5th consecutive year and India’s Best Workplaces TM for Women 2024 London Cambodia Muhlebachstrasse Hangzhou ~ Phnom Penh Japan Chartis Chartis Tokyo RiskTech100 RiskT
Slide 7: Agenda
Agenda I 1. Crisil overview i 2. Business environment t 3. Performance update © 2025 CRISIL Ltd. All rights reserved. ♦ 4. Financials ♦ •► 5. Segment performance ♦ •► 6. Thought leadership ♦ •► 7. Corporate social responsibility ♦ •► 8. Risks ♦ 6 Crisil a company of S&P Global
Slide 8: Key trends in macro and business environment
Key trends in macro and business environment Global Global banks maintain their measured stance, as they invest Evolving macro situation leading to greater client need for in transformation initiatives across cloud, data and analytics, benchmarking solutions to target opportunities and AI/ML and aut
Slide 9: Agenda
Agenda •► I 1. Crisil overview ♦ ► 2. Business environment ♦ •► 3. Performance update !I © 2025 CRISIL Ltd. All rights reserved. 4. Financials ♦ •► 5. Segment performance ♦ •► 6. Thought leadership ♦ •► 7. Corporate social responsibility ♦ •► 8. Risks ♦ 8 Crisil a company of S&P Global
Slide 10: Resilient performance amidst macro-economic uncertainty
Resilient performance amidst macro-economic uncertainty • Crisil Ratings maintained its leadership in corporate bond ratings given investor preference for best-in-class ratings 3.8% 2024 • Global Analytics Centre (GAC) saw growth driven by new engagements and an increase in the delegation of ratings
Slide 11: Agenda
Agenda •► I 1. Crisil overview ♦ ► 2. Business environment ♦ 3. Performance update © 2025 CRISIL Ltd. All rights reserved. ♦ 4. Financials I ♦ I •► 5. Segment performance ♦ •► 6. Thought leadership ♦ •► 7. Corporate social responsibility ♦ •► 8. Risks ♦ 10 Crisil a company of S&P Global
Slide 12: Financial performance for full year 2024 and Q1 2025
Financial performance for full year 2024 and Q1 2025 Income from operations Profit before tax (PBT) Profit after tax (PAT) +3.8% +6.8% +3.9% ₹ crore ₹ crore ₹ crore 3,139.5 3,259.8 867.7 926.5 658.4 684.1 © 2025 CRISIL Ltd. All rights reserved. FY23 FY24 FY23 FY24 FY23 FY24 +10.2% +16.3% +16.1% 737.
Slide 13: Agenda
Agenda I 1. Crisil overview ♦ 2. Business environment ♦ 3. Performance update © 2025 CRISIL Ltd. All rights reserved. ♦ 4. Financials ♦ •► Segment performance – Ratings 5. Services t •► 6. Thought leadership ♦ •► 7. Corporate social responsibility ♦ •► 8. Risks ♦ 12 Crisil a company of S&P Global
Slide 14: Corporate bond issuances were tepid in Q1 2025
Corporate bond issuances were tepid in Q1 2025 Bank credit growth moderated amid slowing services and retail growth Bond issuance quantum (Rs billion) Credit growth (%) 25.0% +12.5% 11,032 20.0% 9,803 11.7% © 2025 CRISIL Ltd. All rights reserved. +3.9% 2,934 3,048 15.0% 10.0% 11.0% 5.0% 9.8% 0.0% 20
Slide 15: Ratings Services performance highlights
Ratings Services performance highlights Financials Particulars Particulars FY23 FY24 Growth Q1 FY24 Q1 FY25 Growth (Rs crore) (Rs crore) Income from Income from 772.4 909.2 17.7% 202.2 267.9 32.5% operations operations © 2025 CRISIL Ltd. All rights reserved. Segment profit 334.7 398.0 18.9% Segment
Slide 16: Agenda
Agenda I 1. Crisil overview ♦ 2. Business environment ♦ 3. Performance update © 2025 CRISIL Ltd. All rights reserved. ♦ 4. Financials ♦ •► Segment performance – Research, 5. Analytics and Solutions t •► 6. Thought leadership ♦ •► 7. Corporate social responsibility ♦ •► 8. Risks ♦ 15 Crisil a company
Slide 17: Domestic asset flows, low NPAs augur well for Indian financials
Domestic asset flows, low NPAs augur well for Indian financials Indian banking sector gross NPAs (%) India mutual funds AUM* 8.4 6,869 6,831 ₹ ‘000 crore 6,644 7.5 - 5,975 5,488 - 4,993 © 2025 CRISIL Ltd. All rights reserved. 5.9 4,085 3,864 - 3.9 2.7 2.5-2.6 2.5-2.6 FY20 FY21 FY22 FY23 FY24 FY25E F
Slide 18: Healthier financial profile of corporates with lighter balance sheets
Healthier financial profile of corporates with lighter balance sheets and high capacity utilization Net debt-to-Ebitda ratio at nearly half from a decade ago Capacity utilization remains healthy Rs. lakh crore Times 90% 25 3.0 80% 2.6 2.4 2.5 2.4 __ ... -- ---- -- 2.3 2.5 70% © 2025 CRISIL Ltd. All
Slide 19: Profitability focus of global banks impacting discretionary spends
Profitability focus of global banks impacting discretionary spends CIB revenue pools(1) ($ billion) CIB return on equity(2) (%) 700 20% .... 600 15% 500 © 2025 CRISIL Ltd. All rights reserved. 400 10% 300 200 5% 100 0 0% FY19 FY20 FY21 FY22 FY23 FY24 FY19 FY20 FY21 FY22 FY23 FY24 (1) Revenue pools a
Slide 20: Research, Analytics & Solutions performance highlights
Research, Analytics & Solutions performance highlights Financials Particulars (Rs crore) FY23 FY24 Growth Particulars (Rs crore) Q1 FY24 Q1 FY25 Growth Income from Income from 2367.1 2350.6 -0.7% 535.5 545.3 1.8% operations operations © 2025 CRISIL Ltd. All rights reserved. Segment profit 493.6* 505
Slide 21: Agenda
Agenda I 1. Crisil overview ♦ 2. Business environment ♦ 3. Performance update © 2025 CRISIL Ltd. All rights reserved. ♦ 4. Financials ♦ •► 5. Segment performance ♦ •► 6. Thought leadership I i •► 7. Corporate social responsibility ♦ •► 8. Risks ♦ 20 Crisil a company of S&P Global
Slide 22: Thought leadership
Thought leadership CAPEX OUTLAY UNDERWHELMS, BUT TAX RELIEF COMES AS AN OFFSET India Outlook I Gll:ll:m: lnd ia 11, Infrastructure lL Conclave 2025 tionint1"1u:-,.. ,oll(,-111)111(•1,1.11'1x1111on••-,;l))·~n1,11t.r,·i•lf,1b1w~l" lio11.a11r.,1i11gltllX'ig,1l11"-.tun1r.a1"ll""''K•i•~amon-co1111x1 de1i
Slide 23: Agenda
Agenda I 1. Crisil overview ♦ 2. Business environment ♦ 3. Performance update © 2025 CRISIL Ltd. All rights reserved. ♦ 4. Financials ♦ •► 5. Segment performance ♦ •► 6. Thought leadership ♦ I 7. Corporate social responsibility ♦ I •► 8. Risks ♦ 22 Crisil a company of S&P Global
Slide 24: Driving positive social impact through CSR initiatives
Driving positive social impact through CSR initiatives Crisil’s Board of Directors visited the Foundation’s project locations in Assam, witnessed first-hand impact on ground by interacting with the Sakhi cadre and community members Financial capability building of marginalised communities Crisil Fou
Slide 25: Agenda
Agenda I 1. Crisil overview ♦ 2. Business environment ♦ 3. Performance update © 2025 CRISIL Ltd. All rights reserved. ♦ 4. Financials ♦ •► 5. Segment performance ♦ •► 6. Thought leadership ♦ •► 7. Corporate social responsibility ♦ •► 8. Risks ! I 24 Crisil a company of S&P Global
Slide 26: Risks
Risks Macroeconomic and geopolitical risks Legal, regulatory and policy risks © 2025 CRISIL Ltd. All rights reserved. Cybersecurity and data breach risks Foreign exchange risk Potential disruption due to GenAI People risk Competitive intensity 25
Slide 27: About Crisil
About Crisil Crisil is a global, insights-driven analytics company. Our extraordinary domain expertise and analytical rigour help clients make mission-critical decisions with confidence. Large and highly respected firms partner with us for the most reliable opinions on risk in India, and for uncover