CRISIL declares the quarterly results: revenue surges by 16 per cent
Mayuresh Deshmukh / 19 Apr 2016
One of the largest credit rating agency in India, CRISIL, has announced its year ending quarterly results on Tuesday. The board has declared an interim dividend of Rs 5 per share of face value Rs 1 each for the financial year ending December 31, 2016.
One of the largest credit rating agency in India, CRISIL, has announced its year ending quarterly results on Tuesday. The board has declared an interim dividend of Rs 5 per share of face value Rs 1 each for the financial year ending December 31, 2016.
The MD and CEO of CRISIL said “The strong financial performance is reflective of the diversity of CRISIL’s portfolio of businesses. The quarter saw a strong growth in Risk and Analytics and Financial Research businesses under our Global Research and Analytics Vertical; while the performance of India focused businesses remained subdued because of weak investment demand and credit growth.”
On financial front the consolidated net revenue from operations of CRISIL reached to Rs 359 crores in Q4FY16 compared to Rs 307 crores in Q4FY15, an increase of 16.60 per cent year on year (YoY). The EBITDA stands at Rs 122 crores this quarter, as compared to Rs 89 crores in Q4FY15, an increase of 36.49 per cent YoY. The EBITDA margin this quarter stands at 34.05 per cent, as compared to 29.08 per cent in Q4FY15. The substantial increase in EBITDA is attributed to decrease in company’s other expenses by 1.39 per cent YoY. The net profit stands at Rs 79 crores in Q4FY16 compared to Rs 56 crores in Q4FY15, an increase of 39.56 per cent QoQ.
Segment-wise 31 per cent of revenue of company comes from Rating services, 65 per cent comes from Research services and the rest 4 per cent comes from Advisory services.
This quarter the rating business of company witnessed a muted growth of 5.19 per cent YoY due to weak credit off-take and continued slowdown in the investment cycle. The business remained focused on maintaining its premier position and on driving innovation in the market place.
The revenue from Research vertical increased by 21.77 per cent YoY due to sustained growth in the global business from new and existing clients. The Global Financial Research business witnessed traction from clients in credit research and risk services. The risk and analytics business continued to see strong growth in stress testing, model validation and regulatory support services. Coalition expanded its product offering to cover newer segments in the banking industry.
On valuation front, the stock of company is trading at trailing twelve-month P/E of 49.52 compared to industry P/E of 46.21.
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