CRISIL LIMITED CRISI
An S&P Global Com�ny
February 15, 2022
Listing Department
BSE Limited
P J Towers
Dalal Street
Mumbai 400 001
Dear Sirs
National Stock Exchange oflndia Ltd. Exchange Plaza, 5th floor
Plot No. C/1, G Block
Bandra-Kurla Complex Bandra (East) Mumbai 400 051
Sub.: Outcome ofBoard Meeting ofCRISIL Limited
Please take note ofthe following outcomes from the Meeting of the Board ofDirectors ofthe Company, held today:
-
The Board ofDirectors ofthe Company has approved the Audited Financial Results for the year ended December 31, 2021. A copy ofthe Audited Financial Results ofthe Company, along with a copy ofthe Auditors' Report and the Press Release in this regard are enclosed.
In accordance with Regulation 33(3)(d) ofSecurities and Exchange Board oflndia (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular CIR/CFD/CMD/56/2016 dated May 27, 2016, a declaration in respect ofunmodified opinion on Audited Financial Statements for the Financial Year ended December 31, 2021 is enclosed herewith.
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The Board ofDirectors ofthe Company has approved the Audited Financial Results for the year ended December 31, 2021. A copy ofthe Audited Financial Results ofthe Company, along with a copy ofthe Auditors' Report and the Press Release in this regard are enclosed.
- The Board of Directors has also recommended final dividend ofRs. 22 (including a special dividend ofRs. 7), per equity share offace value ofRe 1 each, for the financial year ended December 31, 2021, subject to the approval ofthe shareholders at the ensuing Annual General Meeting.
- The Board of Directors has also approved the notice convening the 35th Annual General Meeting (AGM) ofthe Company which will be held on Friday, April 22, 2022 through video conferencing (VC) or other audio visual means (OAVM).
- The Board ofDirectors has also approved the re-appointment of Mis. Walker Chandiok & Co LLP, Chartered Accountants (Firm Registration No. 001076N/N500013) as Statutory Auditors of the Company for a second term of5 (five) years commencing from conclusion ofthe ofthe 35th AGM till
CRISIL Limited
Corporate Identity Number: L67120MH1987PLC042363
Registered Office: CRISIL House, Central Avenue, Hiranandani Business Park, Powai, Mumbai - 400076. Phone: +91 22 3342 3000 I Fax: +91 22 3342 3001
www.crlsil.com
CRISIL
An S&P Global Company
the conclusion of the 40th AGM of the Company, which shall be subject to the approval of the Shareholders. Further, the details as required to be disclosed in terms ofSEBI Listing Regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 09th September, 2015 are given in "Annexure A" as enclosed to this letter.
The meeting of the Board of Directors commenced at 4.30 p.m. 1ST and todays proceedings concluded at 9.45 p.m. 1ST.
Kindly take this communication on record and inform your members accordingly.
Yours sincerely,
For CRISIL Limited
Minal Bhosale
Company Secretary
ACS 12999
Encl.: a/a
CRISIL Limited
Corporate Identity Number: L67120MH1987PLC042363
Registered Office: CRISIL House, Central Avenue, Hiranandani Business Park, Powai, Mumbai - 400076. Phone: +91 22 3342 3000 I Fax: +91 22 3342 3001
www.crisil.com
Particulars | |
Reason for change viz. appointment, resignation, | Re-appointment |
removal, death or otherwise |
CRISI
An S&P Global Company
Annexure A
Details
Date of appointment / cessation (as applicable) | Ensuing Annual General Meeting of the Company | |||
Term of Appointment | Re-appointed for a second tenn of 5 (five) years | |||
commencing from conclusion of 35 | th | AGM till the | ||
conclusion of the 40 | th | AGM which shall be subject | ||
to the approval of the Shareholders. | ||||
Brief Profile (in case of appointment) | M/s. Walker Chandiok & Co LLP is a member firm | |||
with Grant Thornton International Limited (GT) | ||||
having presence in 13 cities in India with 53 | ||||
Partners and 1,500 + partners and staff. It is ranked | ||||
4th in India based on number ofcompanies audited | ||||
according the survey of prime data based released | ||||
in January 2022. The firm has audit experience | ||||
across banking and financial services sector as well | ||||
as other corporates aggregating to an overall audit | ||||
universe of over 83 entities in India. |
CRISIL Limited
Corporate Identity Number: L67120MH1987PLC042363
Registered Office: CRISIL House, Central Avenue, Hiranandani
Business | Park | � | owa1,· |
'. | |||
www.cr1s1l.com |
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400076
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Phone· +91 22 3342 3000 | I | Fax: +91 22 3342 :JJ01 |
· |
CRISIL
An S&P Global Company
Press release
February 15, 2022 I Mumbai
CRISIL Limited: Audited financial results
for the fourth quarter and year ended December 31, 2021
Highlights for quarter and year ended December 31, 2021:
- Income from operations up 18.2% for the quarter and 16.1% for the year 2021
- Profit before exceptional items and tax up 33.9% for the quarter and 24.9% for the year 2021
- Profit after tax up 53.2% for the quarter and 31.3% for the year 2021
- Final dividend of Rs 22 per share, including a special dividend of Rs 7 per share, recommended. Total dividend of Rs 46 per share for the year 2021 vs Rs 33 per share in 2020
The Board of Directors of CRISIL Ltd, at its meeting today, approved the audited financial results for the quarter and year ended December 31, 2021.
CRISIL's consolidated income from operations for the quarter ended December 31, 2021, rose 18.2% to Rs 706.0 crore, compared with Rs 597.2 crore in the corresponding quarter of the previous year. Consolidated total income for the quarter ended December 31, 2021, was up 17.5% to Rs 719.5 crore, compared with Rs 612.2 crore in the corresponding quarter of the previous year.
Profit before exceptional items and tax for the quarter ended December 31, 2021, increased 33.9% to Rs
179.5 crore, compared with Rs 134.1 crore in the corresponding quarter of the previous year. Profit after tax for the quarter ended December 31, 2021, increased 53.2% to Rs 168.6 crore, compared with Rs 110.0 crore in the corresponding quarter of the previous year.
CRISIL's consolidated income from operations for the year ended December 31, 2021, rose 16.1% to Rs 2,300.7 crore, compared with Rs 1,981.8 crore in the corresponding period of the previous year. Consolidated total income for the year ended December 31, 2021, was up 14.7% to Rs 2,382.4 crore, compared with Rs 2,076.3 crore in the corresponding period of the previous year.
Profit before exceptional items and tax for the year ended December 31, 2021, increased 24.9% to Rs
572.6 crore, compared with Rs 458.3 crore in the corresponding period of the previous year. Profit after tax for the year ended December 31, 2021, increased 31.3% to Rs 465.8 crore, compared with Rs 354.7 crore in the corresponding period of the previous year.
The results include the full-year financials of Greenwich Associates LLC (acquired on February 26, 2020), while for the same period last year, 10-month financials were considered. Profit before tax for the quarter and year ended December 31, 2021, includes Rs 45.8 crore towards profit on sale of property.
During 2021, the company paid three interim dividends totalling Rs 24 per equity share of face value of Re 1 each. The Board of Directors has recommended a final dividend of Rs 15 per share and a special dividend of Rs. 7 per share (of Re 1 face value). The total dividend for the year works out to Rs 46 per share.
Says Amish Mehta, Managing Director & CEO, CRISIL, "We witnessed growth across our businesses during the quarter. Global economies, including India, have been veering towards normalisation with demand recovering, even though inflationary pressures are elevated. Our focus on IP-led solutions and risk transformation helped us win new clients and increase our wallet share at key clients. We continue to invest in people and technology to drive sustainable growth."
CRISIL
An S&P Global Company
Activity in the lending markets improved in line with economic recovery. Companies increasingly sought to refinance debt and strengthened their liquidity positions. CRISIL Ratings continues to maintain market leading position in corporate bond ratings and added new clients during the quarter. The business also saw Increased penetration in the mid-corporate segment and traction for stressed asset offerings. Revenue at CRISIL Ratings grew 16.8% on-year in thH December quarter, and 7.5% in 2021.
Global Analytical Center (GAG) increased support to the analytical, sustainability and transformation projects of S&P Global Ratings Services. The Ratings segment revenue grew 9.5% on-year in the December quarter and 6.9% in 2021.
In Research, the Global Research & Risk Solutions (GR&RS) business saw client wins and continued to grow through the December quarter. There was increased demand for our offerings in the areas of regulatory reporting, product control, sustainability, and buy-side research. Investments in digital and regulatory-driven transformation agenda at financial institutions also spawned business opportunities.
The India Research business witnessed growth following the pick-up in economic activity. There was increased traction for data, insights, and capital market research offerings.
Revenue growth at Global Benchmarking Analytics was driven by deals with global corporate and investment banks. Greenwich Associates, which was acquired by CRISIL in the first quarter of 2020, strengthened its regional client base and expanded relationships with commercial banks. The Research segment revenue grew 21.5% on-year in the December quarter and 20.3% in 2021.
The Advisory segment saw good momentum with revenue growing 17.6% on-year in the December quarter and 14.0% in 2021. The business bagged large wins from multilaterals and expanded its overseas clients' footprint. The Business Intelligence and Risk Solutions business saw wins for its regulatory offerings.
CRISIL continued its people-first approach, while focusing on learning and talent development. The company won a host of recognitions for diversity, equity, and inclusion in 2021.
CRISIL Ratings held webinars on NBFCs, roads, renewables, gold, pharmaceuticals, and healthcare sectors. GR&RS released whitepapers on global macro environment and risk modelling. CRISIL Research hosted webinar on crop protection industry and the fourth edition of its Advisor Connect webinar series on
'Preparing investors for known and unknown investment risks'. Coalition Greenwich hosted three webinars
on the US treasury market, corporate bond trading, and compliance in the capital markets.
CRISIL Foundation launched 346 centres for Financial Literacy (CFLs) across India under the Reserve Bank of India's MoneyWise Centre for Financial Literacy project.
/
- Amish Mehta
Managing Director & CEO
- DIN: 00046254
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CRISIL Limited published this content on 15 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 February 2022 16:56:06 UTC.
