Buy CRISIL; target of Rs 2078: Firstcall Research

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26 Aug, 2025 12:21

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Firstcall Research report on CRISIL“CRISIL India’s leading rating agency and pioneered the concept of credit ratings in the country in 1987 headquartered in Mumbai, Maharashtra, India. The offices of the company have its global presence in New York, Argentina, Singapore, Poland, London and China. The company play’s a key role in India's fixed income markets and it is India's largest provider of valuations of fixed income securities, serving the mutual fund, insurance, and banking industries. CRISIL is the sole provider of debt and hybrid indices to India's mutual fund and life insurance industries. The company Pioneered independent equity research in India and are today India's largest independent equity research house. CRISIL (Credit Rating Information Services of India Limited) is a global analytical company providing ratings, research, and risk and policy advisory services. The company is the foremost provider of high-end research to the world's largest banks and leading corporations. Within India its customers range from small enterprises to the largest corporations and financial institutions; outside India its customers include the world’s largest banks and leading corporations. It also works with governments and policy-makers in India and other emerging markets in the infrastructure domain. The company’s majority shareholder is Standard & Poor's (S&P). Standard & Poor's, a part of McGraw Hill Financial Inc. is the world's foremost provider of credit ratings. The acquisition of Coalition Development Limited in July 2012 gave CRISIL access to proprietary global research and a premium brand. And the launch of ‘Pragati’, a financial awareness initiative targeted at India’s unbanked poor, illustrates the continued innovation that characterises the CRISIL spirit. CRISIL Research, India’s largest independent and integrated research house, estimates that online retailing -- both direct and through marketplaces will become a Rs 500 billion industry by 2016, growing at a whopping 50- 55% annually over the next three years.” “At the current market price of Rs.1822.95, the stock P/E ratio is at 46.82 x CY14E and 42.68 x CY15E respectively. Earning per share (EPS) of the company for the earnings for CY14E and CY15E is seen at Rs.38.93 and Rs.42.71 respectively. Net Sales and PAT of the company are expected to grow at a CAGR of 13% and 11% over 2012 to 2015E respectively. On the basis of EV/EBITDA, the stock trades at 29.71 x for CY14E and 27.07 x for CY15E. Price to Book Value of the stock is expected to be at 15.20 x and 12.79 x respectively for CY14E and CY15E. We expect that the company surplus scenario is likely to continue for the next three years, will keep its growth story in the coming quarters also. We recommend ‘BUY’ in this particular scrip with a target price of Rs. 2078.00 for Medium to Long term investment,” says Firstcall Research report. 

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