CRISIL Q4 FY13 cons PAT up 6.8% at Rs 220.40 cr

CRISIL has come out with its audited financial results for the year ended December 31, 2012. The company registered a consolidated income from operations of Rs. 979.31 crore for the year, up from Rs. 809.64 crore in the previous year, an increase of 21 percent. Its consolidated profit after tax for the year was Rs. 220.40 crore as against Rs. 206.42 crore in the previous year, an increase of 6.8 percent.

CRISIL's consolidated total income for the quarter ended December 31, 2012 was Rs. 262.04 crore, as against Rs. 218.69 crore in the corresponding quarter of the previous year, an increase of 19.8 percent. The net profit after tax for the quarter was Rs. 59.99 crore as against Rs.55.81 crore in the corresponding quarter of the previous year, an increase of 7.5 percent.

During the year, the Company paid three interim dividends of Rs. 3 per share each on face value of Re.1 per equity share. In addition, to mark its Silver Jubilee year, the Company paid a one-time special dividend of Rs.3 per share. The Directors have recommended a final dividend of Rs. 4 per share. The total dividend for the year works out to Rs.16 per share, as against Rs.11 per share in the previous year. Thus, during the year, CRISIL returned Rs.112.32 crore to the shareholders through dividend payouts.

CRISIL completed the acquisition of Coalition Development Limited (Coalition), a UK-based analytics firm, on July 4, 2012. The financials of Coalition and its subsidiaries have been consolidated with those of CRISIL with effect from the said date. Coalition provides high-end analytics, mainly to leading global investment banks, and is a dynamic high-growth company with a firmly established premium brand.

CRISIL Ratings maintained its leading position in the ratings market in India, in a year in which bond issuances remained muted because of high interest rates and tight liquidity. The major contributors to CRISIL Ratings' revenue growth were Bank Loan Ratings (BLRs) and Small & Medium Enterprises (SME) ratings. CRISIL announced 3,600 new BLRs and 10,000 SME ratings during the year. CRISIL has thus assigned more than 11,000 BLRs and 46,000 SME ratings/assessments so far. CRISIL's Global Analytical Centre (GAC) maintained steady growth in its services to Standard & Poor's (S&P).

CRISIL Global Research and Analytics (GR&A) consolidated its leadership position in the research and analytics space, adding numerous new clients including large banks and Fortune 500 companies. With the acquisition of Coalition, GR&A ventured into proprietary research outside India. In collaboration with NASSCOM, GR&A released the first comprehensive report on the opportunities presented by Big Data. The business benefited from a focused branding and positioning exercise implemented during the year.

CRISIL Research continued to build on its powerful value proposition of timely and relevant research. The business expanded its coverage by adding more sectors through special reports on 16 less-known, high growth potential sectors, and on 68 SME clusters across 30 sectors. CRISIL Research, together with Sri Lanka's NDB Investment Bank, launched a family of four indices for Sri Lanka's government securities market; these indices have been developed, and will be maintained, by CRISIL.

CRISIL Risk and Infrastructure Solutions Limited (CRIS), a wholly-owned subsidiary of CRISIL Limited, houses the infrastructure advisory and risk solutions business. The Infrastructure Advisory business won prestigious mandates during the year, including the opportunity to assist the Ministry of Coal, Government of India, in formulating a methodology to fix the floor and reserve prices for coal block auctions. The business also won large mandates in emerging economies like Indonesia, Vietnam, Tanzania, and Ethiopia. CRISIL Risk Solutions (CRS) won and executed a large number of mandates, diversified its client base, and increased its revenue from the non-banking segment. CRS also entered Europe, the Middle East, Africa, and South-East Asia in collaboration with S&P Risk Solutions, to market risk products.

During the year, CRISIL launched a national financial awareness initiative called 'Pragati - Progress through Financial Awareness'. Pragati will provide comprehensive training in local languages to a wide base of people across social and demographic categories, covering topics such as financial planning, cash management, and savings, and introducing the concepts of insurance and risk management. Pragati was launched in Assam in March, and has touched the lives of over 1,000 women, garnering extremely positive feedback.

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