1 Nature of Operations
 
 CRISIL Limited ( the Company) is global analytical company providing
 ratings and research services. CRISIL is Indias leading ratings agency
 and also the foremost provider of high-end research to the worlds
 largest banks and leading corporations.  With sustainable competitive
 advantage arising from our strong brand, unmatched credibility, market
 leadership across businesses, and large customer base, CRISIL deliver
 analysis, opinions, and solutions that make markets function better.
 
 2 Statement of Significant Accounting Policies
 
 2.1 Basis of Preparation
 
 The financial statements have been prepared to comply in all material
 respects with the Notified accounting standard by Companies Accounting
 Standards Rules, 2006 as amended and the relevant provisions of the
 Companies Act, 1956 (the Act). The financial statements have been
 prepared under the historical cost convention on an accrual basis. The
 accounting policies have been consistently applied by the Company and
 except for the changes in accounting policy discussed more fully below,
 are consistent with those used in the previous year.
 
 2.2 use of estimates
 
 The preparation of financial statements in conformity with generally
 accepted accounting principles requires management to make estimates
 and assumptions that affect the reported amounts of assets and
 liabilities and disclosure of contingent liabilities at the date of the
 financial statements and the results of operations during the reporting
 year end. Although these estimates are based upon managements best
 knowledge of current events and actions, actual results could differ
 from these estimates.
 
 2.3 Changes in accounting policies
 
 Foreign Currency Translation on long term monetary items
 
 In line with notification of the Companies (Accounting Standards)
 Amendment Rules, 2011 issued by Ministry of Corporate Affairs on
 December 29, 2011 amending Accounting Standard - 11 (AS - 11) The
 Effects of Changes in Foreign Exchange Rates (revised 2003), the
 Company has chosen to exercise the option under para 46A inserted in
 the standard by the notification. Accordingly, exchange differences on
 all long term monetary items, with prospective effect from April 01,
 2011, has been accumulated in the Foreign Currency Monetary
 Translation Account and amortised to the profit and loss account
 over the balance life of the long term monetary item. As a result of
 this change, the net profit before tax for the year is lower by
 Rs.45,664,182.
 
 2.4 Fixed assets
 
 Fixed assets are stated at cost, less accumulated depreciation and
 impairment losses if any. Cost comprises the purchase price and any
 attributable cost of bringing the asset to its working condition for
 its intended use. Items of fixed asset held for disposal are stated at
 lower of the net book value and net realisable value and are shown
 under other current assets.
 
 2.5 depreciation
 
 Depreciation is provided using the Straight Line Method ( SLM) as per
 the useful lives of the assets estimated by the management, or at the
 rates prescribed under schedule XIv of the Act, whichever is higher.
 
 Leasehold Improvements are amortised over the lease term or useful life
 of the asset, whichever is less. Leasehold improvements are amortised
 over the period of 8.5 years to 9 years in the current year
 
 Fixed assets having original cost of less than Rs.5,000 individually,
 are depreciated fully in the year / period of purchase.
 
 2.6 Impairment
 
 The carrying amounts of assets are reviewed at each balance sheet date
 if there is any indication of impairment based on internal/external
 factors. An impairment loss is recognised wherever the carrying amount
 of an asset exceeds its recoverable amount. The recoverable amount is
 the greater of the assets net selling price and value in use. In
 assessing value in use, the estimated future cash flows are discounted
 to the present value at interest rate specific to the asset and in case
 where the specific rate is not available at the weighted average cost
 of capital which is adjusted for country risk/ currency risk.
 
 After impairment, depreciation is provided on the revised carrying
 amount of the asset over its remaining useful life.
 
 2.7 operating Leases
 
 Leases where the lessor effectively retains substantially all the risks
 and benefits of ownership of the leased term, are classified as
 operating leases. Operating lease payments are recognised as an expense
 in the Profit and Loss Account on a straight-line basis over the lease
 term.
 
 2.8 Investments
 
 Investments that are readily realisable and intended to be held for not
 more than a year are classified as current investments. All other
 investments are classified as long-term investments. Current
 investments are carried at lower of cost and fair value determined on
 an individual investment basis. Long-term investments are carried at
 cost. However, provision for diminution in value is made to recognise a
 decline other than temporary in the value of the investments.
 
 2.9 Revenue Recognition
 
 Revenue is recognised to the extent that it is probable that the
 economic benefits will flow to the Company and the revenue can be
 reliably measured.
 
 Income from Operations
 
 Income from Operations comprises of income from initial rating and
 surveillance services, global analytical services, credit assessments,
 special assignments and subscriptions to information products and
 services. Initial rating fees are deemed to accrue at 94% on the date
 the rating is awarded and the balance 6% is recorded equally over 11
 months subsequent to the month in which the rating was awarded.
 Surveillance fee and subscription to information products are accounted
 on a time proportion basis. Fees received for credit assessments and
 special assignments are fully recognised as income in the year in which
 such assessments/assignments are carried out or milestones achieved or
 as per agreement with client.
 
 Interest Income
 
 Revenue is recognised on a time proportion basis taking into account
 the amount outstanding and the rate applicable.  
 
 Dividend Income
 
 Revenue is recognised when the shareholders right to receive payment
 is established by the balance sheet date. Dividend from subsidiaries is
 recognised even if same are declared after the balance sheet date but
 pertains to period on or before the date of balance sheet as per the
 requirement of schedule VI of the Act.
 
 Profit /(loss) on sale of investment
 
 Profit /(loss) on sale of investment is accounted when the sale /
 transfer deed is executed . On disposal of such investments, the
 difference between the carrying amount and the disposal proceeds, net
 of expenses, is recognised in the Profit and Loss statement. The
 carrying amount of investment is determined using weighted average cost
 method.
 
 2.10 Retirement and other employee benefits
 
 Retirement benefits in the form of Provident Fund is a defined
 contribution scheme and the contributions are charged to the Profit and
 Loss Account of the year when the contributions to the respective funds
 are due. There are no other obligations other than the contribution
 payable to the respective authorities or trusts.
 
 Gratuity liability is provided for on the basis of an actuarial
 valuation on projected unit credit method made at the end of each
 financial year.
 
 Short term compensated absences are provided for based on estimates.
 Long term compensated absences are provided for based on actuarial
 valuation. The actuarial valuation is done as per projected unit credit
 method.
 
 Actuarial gains/losses are immediately taken to profit and loss account
 and are not deferred.
 
 2.11 foreign Currency Transactions Initial Recognition
 
 Foreign currency transactions are recorded in reporting currency by
 applying to the foreign currency amounts, the average exchange rates
 for the month prior to the month in which the transaction takes place.
 
 Conversion
 
 Foreign currency monetary items are reported using the closing rates.
 Non monetary items which are carried in terms of historical costs
 denominated in a foreign currency are reported using the exchange rate
 at the date of transaction.
 
 Exchange Difference
 
 Exchange differences relating to long term monetary items, arising
 during the year, such differences are accumulated in the  Foreign
 Currency Monetary Item Translation Account and amortised to the
 profit and loss account over the balance life of the long term monetary
 item. All other exchange differences are recognised as income or
 expense in the profit and loss account.
 
 Non-monetary items carried in terms of historical cost denominated in a
 foreign currency are reported using the exchange rate at the date of
 the transaction; and non-monetary items which are carried at fair value
 or other similar valuation denominated in a foreign currency are
 reported using the exchange rate that existed, when the values were
 determined.  Exchange differences arising as a result of the above are
 recognised as income or expense in the profit and loss account
 
 Forward Contract
 
 Forward contracts are entered into, to hedge the foreign currency risk
 of the underlying outstanding at the balance sheet date and also to
 hedge the foreign currency risk of firm commitment or highly probable
 forecast transactions. The premium or discount on forward contracts
 that are entered into, to hedge the foreign currency risk of the
 underlying outstanding at the balance sheet date arising at the
 inception of each contract, is amortised as income or expense over the
 life of the contract. Any profit or loss arising on the cancellation or
 renewal of forward contracts is recognised as income or as expense for
 the year.
 
 In relation to the forward contracts entered into, to hedge the foreign
 currency risk of the underlying outstanding at the balance sheet date,
 the exchange difference is calculated as the difference between the
 foreign currency amount of the contract translated at the exchange rate
 at the reporting date or the settlement date where the transaction is
 settled during the reporting year, and the corresponding foreign
 currency amount translated at the later of the date of inception of the
 forward exchange contract and the last reporting date. Such exchange
 differences are recognised in the profit and loss account in the
 reporting year in which the exchange rates change.
 
 The Company has adopted the principles of AS 30 Financial
 Instruments: Recognition and Measurement in respect of its
 derivative financial instruments that are not covered by AS 11
 Accounting for the Effects of Changes in Foreign Exchange Rates
 and that relate to a firm commitment or a highly probable forecast
 transaction. In accordance with AS 30, such derivative financial
 instruments, which qualify for cash flow hedge accounting and where the
 Company has met all the conditions of AS 30, are fair valued at the
 balance sheet date and the resultant gain / loss is credited / debited
 to the hedging Reserve Account included in the Reserves and Surplus.
 This gain / loss would be recorded in the profit and loss account when
 the underlying transactions affect earnings. Other derivative
 instruments that relate to a firm commitment or a highly probable
 forecast transaction and that do not qualify for hedge accounting, have
 been recorded at fair value at the reporting date and the resultant
 gain / loss has been credited / debited to profit and loss account for
 the year.
 
 2.12 taxes on Income
 
 Tax expense comprises of current, deferred, and wealth tax. Current
 income tax and wealth tax is measured at the amount expected to be paid
 to the tax authorities in accordance with the Indian Income Tax Act of
 1961 enacted in India.  Deferred income taxes reflects the impact of
 current year timing differences between taxable income and accounting
 income for the year and reversal of timing differences of earlier
 years.
 
 Deferred tax is measured based on the tax rates and the tax laws
 enacted or substantively enacted at the balance sheet date. Deferred
 tax assets and deferred tax liabilities are offset, if a legally
 enforceable right exists to set off current tax assets against current
 tax liabilities and the deferred tax assets and deferred tax
 liabilities relate to the taxes on income levied by same governing
 taxation laws. Deferred tax assets are recognised only to the extent
 that there is reasonable certainty that sufficient future taxable
 income will be available against which such deferred tax assets can be
 realised.  In situations where the Company has unabsorbed depreciation
 or carry forward tax losses, all deferred tax assets are recognised
 only if there is virtual certainty supported by convincing evidence
 that they can be realised against future taxable profits.
 
 At each balance sheet date, the Company re-assesses unrecognised
 deferred tax assets. It recognises unrecognised deferred tax assets to
 the extent that it has become reasonably certain that sufficient future
 taxable income will be available against which such deferred tax assets
 can be realised.
 
 The carrying amount of Deferred Tax Assets are reviewed at each Balance
 Sheet date. The Company writes down the carrying amount of a Deferred
 Tax Asset to the extent it is no longer reasonably or virtually
 certain, as the case may be, that sufficient future taxable income will
 be available against which Deferred Tax Asset can be realised. Any such
 write down is reversed to the extent that it becomes reasonably or
 virtually certain, as the case may be, that sufficient future taxable
 income will be available.
 
 2.13 Segment Reporting policies
 
 Segment Policies:
 
 The Company prepares its segment information in conformity with the
 accounting policies adopted for preparing and presenting the financial
 statements of the Company as a whole.
 
 Identification of segments:
 
 The Companys operating businesses are organised and managed separately
 according to the nature of products and services provided, with each
 segment representing a strategic business unit that offers different
 products and serves different markets. The analysis of geographical
 segments is based on the geographical locations of customers.
 
 Inter segment transfers:
 
 The Company generally accounts for intersegment services and transfers
 as if the services or transfers were to third parties at current market
 prices.
 
 Allocation of common costs:
 
 Common allocable costs are allocated to each segment according to the
 relative contribution of each segment to the total common costs.
 
 Unallocated items:
 
 Unallocable income and expenses includes general corporate income and
 expense items which are not allocated to any business segment.
 
 2.14 earnings per Share
 
 Basic earnings per share are calculated by dividing the net profit or
 loss for the period attributable to equity shareholders by the weighted
 average number of equity shares outstanding during the period.
 
 For the purpose of calculating diluted earnings per share, the net
 profit or loss for the period attributable to equity shareholders and
 the weighted average number of shares outstanding during the period are
 adjusted for the effects of all dilutive potential equity shares.
 
 2.15 provisions
 
 A provision is recognised when an enterprise has a present obligation
 as a result of past event; it is probable that an outflow of resources
 will be required to settle the obligation, in respect of which a
 reliable estimate can be made.  Provisions are not discounted to its
 present value and are determined based on best estimate required to
 settle the obligation at the balance sheet date. These are reviewed at
 each balance sheet date and adjusted to reflect the current best
 estimates.
 
 2.16 Cash and Cash equivalents
 
 Cash and cash equivalents in the cash flow statement comprise cash at
 bank and in hand and short-term investments with an original maturity
 of three months or less.
 
 2.17 Employee Stock Compensation Cost
 
 Measurement and disclosure of the employee share-based payment plans is
 done in accordance with SEBI (Employee Stock Option Scheme and Employee
 Stock Purchase Scheme) Guidelines, 1999 and the Guidance Note on
 Accounting for Employee Share-based Payments, issued by the Institute
 of Chartered Accountants of India. The Company measures compensation
 cost relating to employee stock options using the intrinsic value
 method. Compensation expense is amortised over the vesting period of
 the option on a straight line basis.