About Crisil Ratings Limited
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Crisil Ratings Limited is a public limited company based in Mumbai, Maharashtra, India, a subsidiary of Crisil Limited. It operates in the credit rating agencies segment of the financial services sector. It was incorporated on 03 June 2019 and has been in existence for over 7 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U67100MH2019PLC326247. Its GSTIN is 27AAICC2108G1ZZ (Maharashtra). The company holds 6 GST registrations, all of them active.
The company has an authorised share capital of ₹30 Cr and a paid-up capital of ₹26.1 Cr. It is led by directors including Subodh Kumar Rai (Managing Director) and Diwakar Gupta.
Its last annual general meeting (AGM) was held on 24 April 2025, and its latest financial statements are for the year ended 31 December 2024. The registered office is at Lightbridge IT Park, Mumbai, Maharashtra.
As per the financials filed for FY 2023, the company reported a revenue of ₹504.89 Cr, a growth of 18% compared to the previous year. For the same year it recorded a net profit of ₹202.38 Cr (net margin 40.1%) and EBITDA of ₹263.9 Cr (EBITDA margin 52.3%). Revenue has grown at a compounded annual rate (CAGR) of 19% over three years.
The company has about 407 employees on its provident fund (EPFO) records.
The company is associated with 2 brands: Crisil Ratings and Crisil. Court records list 1 case involving the company, including 1 filed against it; 1 case is pending. The company has 1 deal on record (1 acquisition); the latest was in March 2020. Its 5 peer companies in the BFSI industry (Credit Rating and Information Services), with the same principal business activity (other financial activities) are compared by revenue, 2 larger and 3 smaller; the largest is Icra Limited with revenue of ₹575.43 Cr.
For more details, the company can be reached via its website crisil.com.
Company details
Contact details
Crisil Ratings Limited's registered office is in Mumbai, Maharashtra. Its website is crisil.com. Its e-mail address is in the company report.
- Email
- Website
- Social Media
- Registered AddressLightbridge IT Park, Saki Vihar Road Andheri East, Mumbai, Maharashtra, India – 400072
- IndustryFinancial Services, Credit Rating Agencies
To see the full contact details of Crisil Ratings Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Brands
Crisil Ratings operates two associated brands: Crisil Ratings and CRISIL. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Credit ratings, research, and risk assessment services are provided. | crisilratings.com | |
| Credit rating database for financial institutions, energy sectors, automobiles, and telecom | crisil.com |
Financials of Crisil Ratings Limited
FY 2024 filings availableCrisil Ratings Limited reported revenue of ₹504.89 Cr (up 18% YoY) for FY 2023.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 19% over three years, including 18% growth in the latest year. EBITDA rose 20% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|
| Profit and Loss Statement | ||||
| Revenue from Operations | ||||
| Other Income | ||||
| Total Revenue | ₹504.89 Cr | |||
| Cost of Materials Consumed | ||||
| Employee Benefit Expense | ||||
| Finance Costs | ||||
| Depreciation and Amortisation | ||||
| Other Expenses | ||||
| Total Expenses | ||||
| EBITDA | ₹263.9 Cr | |||
| Profit Before Tax | ||||
| Tax Expense | ||||
| Net Profit (PAT) | ₹202.38 Cr | |||
| Balance Sheet | ||||
| Share Capital | ||||
| Reserves and Surplus | ||||
| Net Worth (Total Equity) | ||||
| Long-term Borrowings | ||||
| Short-term Borrowings | ||||
| Trade Payables | ||||
| Total Liabilities | ||||
| Fixed Assets | ||||
| Investments | ||||
| Inventories | ||||
| Trade Receivables | ||||
| Cash and Bank Balance | ||||
| Total Assets | ||||
Financial Ratios
| Metrics | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|
| Profitability | ||||
| EBITDA Margin | 52.3% | |||
| Net Profit Margin | 40.1% | |||
| Return on Equity (ROE) | ||||
| Return on Capital Employed (ROCE) | ||||
| Return on Assets (ROA) | ||||
| Liquidity and Debt | ||||
| Current Ratio | ||||
| Quick Ratio | ||||
| Debt-to-Equity Ratio | ||||
| Interest Coverage Ratio | ||||
| Efficiency and Growth | ||||
| Asset Turnover | ||||
| Receivable Days | ||||
| Payable Days | ||||
| Inventory Days | ||||
| Revenue Growth | ||||
| Net Profit Growth | ||||
To see the full financial statements and ratios of Crisil Ratings Limited, buy the company report.
Board of directors of Crisil Ratings Limited
Crisil Ratings has 6 current directors and 10 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Diwakar Gupta Also directs: Alkem Laboratories Limited, Mahindra Holidays & Resorts India Limited, Mahindra and Mahindra Financial Services Limited and 5 more | Director | 01 Sep 2020 | 6 Years 1 Months | Current |
| Holly Kay Kulka | Director | 05 Aug 2020 | 6 Years 2 Months | Current |
| Dinesh Khara Also directs: Samvardhana Motherson International Limited, Crisil Limited, Kfin Technologies Limited and 2 more | Additional Director | 15 Oct 2025 | 1 Years 0 Months | Current |
| Latha Raghurama Ayyar Also directs: DBS Bank India Limited | Additional Director | 22 Sep 2025 | 1 Years 1 Months | Current |
| Craig Alan Parmelee | Director | 20 Mar 2025 | 1 Years 7 Months | Current |
| Subodh Kumar Rai | Managing Director | 12 Aug 2024 | 2 Years 2 Months | Current |
Peer comparison
Crisil Ratings Limited is compared with the 5 companies closest to it by revenue in the BFSI industry (Credit Rating and Information Services), with the same principal business activity (other financial activities), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Icra Limited | ₹575.43 Cr (FY 2025) | 10.0% | New Delhi, Delhi, India | |||
| Crisil Ratings Limitedthis company | ₹504.89 Cr (FY 2023) | ₹202.38 Cr | 40.1% | 18.0% | 407 | Mumbai, Maharashtra, India |
| Care Ratings Limited | ₹453.07 Cr (FY 2025) | 20.0% | Mumbai, Maharashtra, India | |||
| India Ratings and Research Private Limited | ₹233.18 Cr (FY 2025) | 10.0% | Mumbai, Maharashtra, India | |||
| NSE Indices Limited | ₹160.39 Cr (FY 2025) | -49.0% | Mumbai, Maharashtra, India | |||
| Infomerics Valuation and Rating Limited | ₹90.74 Cr (FY 2025) | 16.0% | New Delhi, Delhi, India |
To see the full peer comparison of Crisil Ratings Limited, buy the company report.
Auditor
Crisil Ratings Limited is audited by WALKER CHANDIOK & CO LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| WALKER CHANDIOK & CO LLP | FY 2023 | 001076N/N500013 |
Shareholding
The shareholding of Crisil Ratings Limited is on record for 3 financial years, the latest being FY 2022, split between promoters, domestic institutions, public shareholders and others.
| Shareholder category | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|
| Promoters | |||
| Domestic institutional investors (DII) | |||
| Public | |||
| Others |
To see the full shareholding pattern of Crisil Ratings Limited, buy the company report.
Deals & funding
Crisil Ratings Limited has 1 deal on record (1 acquisition); the latest was in March 2020.
Deals on record (1 of 1)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2020 | Acquisition | ₹26 Cr | Buyer: Crisil Limited |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Crisil Ratings Limited has 1 court case on record: 1 filed against it. All case is pending.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 1 | 1 | 1 |
Cases on record (1 of 1)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Shahdara, Delhi | Criminal case | Filed against the company by M/S. Good Luck Capital Pvt.Ltd. | Pending |
To see the full case history of Crisil Ratings Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Crisil Ratings Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Crisil Ratings Limited has a workforce of 407 employees on its EPFO records as of Apr 02, 2024, across 1 active EPFO establishment.
GST
Crisil Ratings has 6 GST registrations: 6 active. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAICC2108G1ZZ | Maharashtra | Active | 05 Dec 2019 |
| 06AAICC2108G1Z3 | Haryana | Active | 26 Jun 2020 |
| 33AAICC2108G1Z6 | Tamil Nadu | Active | 29 Jun 2020 |
| 29AAICC2108G1ZV | Karnataka | Active | 03 Jul 2020 |
To see the full GST registrations and return filing status of Crisil Ratings Limited, buy the company report.
Recent activity
Crisil Ratings Limited has 20 board changes on record since 2019: 13 appointments and 7 cessations. The latest: Shyamala Gopinath ceased to be Director on 31 Dec 2025.
11 earlier events are in the company report.
News
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Frequently asked questions
Crisil Ratings is an active public limited company based in Mumbai, Maharashtra, India. The company works in credit rating agencies, within the financial services industry. It was incorporated on 03 June 2019 (7+ years old) and is registered under CIN U67100MH2019PLC326247.
Crisil Ratings has 6 current directors:
- Subodh Kumar Rai - Managing Director
- Diwakar Gupta - Director
- Holly Kay Kulka - Director
- Dinesh Khara - Additional Director
- Latha Raghurama Ayyar - Additional Director
- Craig Alan Parmelee - Director
The latest financial statements of Crisil Ratings on record with the MCA are for the year ended 31 December 2024. Its last annual general meeting was held on 24 April 2025. Year-wise statements from FY 2020 are in the company report.
The GSTIN of Crisil Ratings is 27AAICC2108G1ZZ, registered in Maharashtra. The company has 6 GST registrations in all, of which 6 are active. Other active GSTINs include 06AAICC2108G1Z3 (Haryana), 33AAICC2108G1Z6 (Tamil Nadu), 29AAICC2108G1ZV (Karnataka).
The CIN (Corporate Identification Number) of Crisil Ratings is U67100MH2019PLC326247. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Crisil Ratings has 1 court case on record: 1 filed against it. 1 is pending.
Crisil Ratings was incorporated on 03 June 2019, making it 7+ years old. It is registered with the Registrar of Companies, Mumbai.
Crisil Ratings has 1 deal on record (1 acquisition); the latest was in March 2020.
The peers of Crisil Ratings by revenue are Icra Limited, Care Ratings Limited, India Ratings and Research Private Limited, NSE Indices Limited, Infomerics Valuation and Rating Limited, all in the BFSI industry (Credit Rating and Information Services), with the same principal business activity (other financial activities).
Shyamala Gopinath ceased to be Director on 31 Dec 2025. Dinesh Khara was appointed as Additional Director on 15 Oct 2025. Latha Raghurama Ayyar was appointed as Additional Director on 22 Sep 2025. Crisil Ratings has 20 board changes on record in total.
Crisil Ratings can be reached through the website crisil.com. Its registered office is in Mumbai, Maharashtra, India.