CRISIL Announces Audited Financial Results for the Financial Year Ended December 31, 2009

CRISIL Announces Audited Financial Results for the Financial Year Ended December 31, 2009

The Board of Directors of CRISIL Limited, at it's meeting, approved the audited financial results for the year ended December 31, 2009.

CRISIL registered a consolidated total income of Rs. 538.99 crore for the year, up from Rs. 472.56 crore in the previous year, from continuing operations1, an increase of 14.1 percent. Its consolidated profit after tax for 2009 was Rs. 160.78 crore, as against Rs. 135.27 crore in the previous year, from continuing operations1, an increase of 18.9 percent. The directors have recommended the payment of final dividend of Rs. 25 per share for the year. In the year, CRISIL paid three interim dividends, each of Rs. 25 per share; in total, therefore, the dividend paid by the company for 2009 was Rs. 100 per share, as against Rs. 70 per share in the previous year.

CRISIL’s rating revenues grew significantly in 2009, driven by strong performance in bank loan ratings (BLR) and small and medium enterprise (SME) ratings. Despite the recent recession in the global financial markets, Irevna, CRISIL's off-shoring division, added several strategic and high-potential clients to its portfolio. CRISIL’s domestic research arm, CRISIL Research, launched independent equity research services and grew its traditional businesses, despite the challenging market conditions. CRISIL Risk and Infrastructure Solutions Ltd (CRIS), CRISIL’s wholly owned subsidiary, increased its global footprint by executing mandates in South Africa, Mozambique, Georgia, Bangladesh, and East Asia Pacific.

CRISIL and its group companies continued to collaborate strongly with S&P. CRISIL and S&P worked together on deepening analytics, launching new business initiatives, jointly executing projects, training employees, and building franchise. CRISIL and S&P together conducted several investor events, including mid-year market outlook road shows in India and Singapore. CRISIL, S&P, and the National Stock Exchange of India jointly organised a seminar, ‘Unlocking the potential of India’s credit markets’. CRIS is collaborating with S&P in its infrastructure initiatives. CRIS also participated in a panel discussion in an S&P-hosted seminar, ‘Developing Public Sector Finance as a New Asset Class’ at the 42nd Annual Meeting of Asian Development Bank at Bali, Indonesia. CRIS contributed a thought-leadership opinion piece, and case studies, to the S&P publication ‘Building Asia’s Infrastructure, Building Asia’s Public Finance’ released at the seminar. CRS worked with S&P Risk Solutions in delivering solutions to clients in the Asia-Pacific region.

CRISIL’s BLR and SME Rating operations continued to grow strongly. Over 7500 new BLR and SME ratings were assigned in 2009, the highest ever in CRISIL’s history. The year also saw the first–ever rating for securitisation of microfinance receivables in India.

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