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Last Updated on: 24 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 500092 | NSE: CRISIL

CRISIL Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 22, 2024, 11:24 pm

Market Cap 40,117 Cr.
Current Price 5,484
High / Low5,685/3,661
Stock P/E59.9
Book Value 307
Dividend Yield0.98 %
ROCE41.4 %
ROE32.3 %
Face Value 1.00
PEG Ratio4.71

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for CRISIL Ltd

Competitors of CRISIL Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
IMEC Services Ltd 7.02 Cr. 37.037.0/2.7010.0 8.790.00 %2.47 %1.85 % 10.0
Focus Business Solution Ltd 45.5 Cr. 99.0105/59.292.9 14.70.10 %16.1 %13.5 % 10.0
EKI Energy Services Ltd 697 Cr. 253508/207 1530.00 %24.0 %26.2 % 10.0
CMS Info Systems Ltd 7,791 Cr. 477616/35520.8 1241.20 %27.5 %20.5 % 10.0
Ashram Online.Com Ltd 6.31 Cr. 5.268.02/4.56210 10.60.00 %0.24 %0.08 % 10.0
Industry Average13,758.73 Cr1,069.2597.40260.000.36%15.43%13.49%9.05

All Competitor Stocks of CRISIL Ltd

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Sales495529571706595669683822715771736918738
Expenses368389424514419499531606511567544649546
Operating Profit128139147193176169151216203204192269192
OPM %26%26%26%27%30%25%22%26%28%26%26%29%26%
Other Income13223359203565181718363621
Interest3322222111111
Depreciation28272625252626262626262517
Profit before tax110131151225169177189207194195200279195
Tax %24%23%25%25%28%23%22%24%25%23%24%25%30%
Net Profit84101113169122137148158146151152210138
EPS in Rs11.4913.8615.5023.1416.6718.7520.2421.6319.9420.6020.7928.7418.84

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthDec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023TTM
Sales9781,1111,2531,3801,5481,6581,7481,7321,9822,3012,7693,1403,162
Expenses6507508659801,1041,2031,2771,2761,4711,6902,0392,2582,305
Operating Profit328361389400443455471456511611730882857
OPM %34%32%31%29%29%27%27%26%26%27%26%28%27%
Other Income201032443502573738312312294111
Interest00000020149643
Depreciation343836375547433712110610310495
Profit before tax314425376406438434500492458618742868870
Tax %30%30%29%30%33%30%27%30%23%25%24%24%
Net Profit220298268285294304363344355466564658650
EPS in Rs31.3842.1637.6240.0441.2642.4650.3547.5748.8763.9277.2590.0688.97
Dividend Payout %51%45%53%57%65%66%60%67%68%72%62%60%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year
YoY Net Profit Growth (%)
Change in YoY Net Profit Growth (%)

No data available for trend analysis.

Growth

Compounded Sales Growth
10 Years:11%
5 Years:12%
3 Years:17%
TTM:7%
Compounded Profit Growth
10 Years:10%
5 Years:12%
3 Years:23%
TTM:10%
Stock Price CAGR
10 Years:11%
5 Years:29%
3 Years:20%
1 Year:27%
Return on Equity
10 Years:31%
5 Years:31%
3 Years:32%
Last Year:32%

Last Updated: Unknown

Balance Sheet

Last Updated: October 15, 2024, 3:57 pm

MonthDec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Jun 2024
Equity Capital7777777777777
Reserves5226678418499781,0411,1291,1651,3051,5711,7852,1822,240
Borrowings000000330132834745
Other Liabilities4544704164754004464955148957939561,0781,064
Total Liabilities9831,1451,2651,3311,3851,4951,6341,6892,2072,5042,8313,3153,356
Fixed Assets467449432413309293350349763661619635666
CWIP0003413712145143141
Investments1152443753834655254774534766456831,0561,066
Other Assets4014514585326076638008759551,1931,5151,5931,583
Total Assets9831,1451,2651,3311,3851,4951,6341,6892,2072,5042,8313,3153,356

Reserves and Borrowings Chart

Cash Flow

MonthDec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023
Cash from Operating Activity +223254265270279291379446500403456780
Cash from Investing Activity +-68-157-1852-19-179-64-77-300-97-59-326
Cash from Financing Activity +-111-82-112-262-227-187-203-229-265-291-368-408
Net Cash Flow4415-311033-75111140-64152947

Free Cash Flow

MonthDec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023
Free Cash Flow328.00361.00389.00400.00443.00455.00468.00453.00511.00479.00647.00835.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthDec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023
Debtor Days4439415249575942578610080
Inventory Days
Days Payable
Cash Conversion Cycle4439415249575942578610080
Working Capital Days-95-86-46-39-72-8-26-35-98-5
ROCE %66%60%48%45%45%41%45%42%37%38%41%41%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters66.92%66.88%66.79%66.74%66.72%66.70%66.69%66.67%66.66%66.65%66.65%66.64%
FIIs6.59%6.84%6.65%6.58%6.69%6.68%6.90%7.17%7.25%7.19%7.20%7.17%
DIIs5.96%6.38%7.00%7.50%13.10%13.03%13.16%13.18%13.08%12.92%12.94%12.49%
Public20.53%19.90%19.56%19.19%13.50%13.59%13.27%12.99%13.01%13.23%13.21%13.69%
No. of Shareholders42,91144,20846,67052,58554,16254,55147,27642,12543,14546,42849,67558,612

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Magnum Midcap Fund1,395,2813.39607.831,395,2812024-11-230%
Kotak Equity Opportunities Fund - Regular Plan555,0001.12241.781,395,2812024-11-23-60.22%
Quant Active Fund402,3001.79175.261,395,2812024-11-23-71.17%
HSBC Midcap Fund375,1471.58163.431,395,2812024-11-23-73.11%
Quant Mid Cap Fund263,1371.66114.631,395,2812024-11-23-81.14%
Aditya Birla Sun Life MNC Fund - Div214,4182.5693.411,395,2812024-11-23-84.63%
Aditya Birla Sun Life MNC Fund - Gr214,4182.5693.411,395,2812024-11-23-84.63%
PGIM India Midcap Opportunities Fund173,9730.7575.791,395,2812024-11-23-87.53%
UTI MNC Fund136,9752.159.671,395,2812024-11-23-90.18%
Kotak ELSS Tax Saver Fund115,0000.8950.11,395,2812024-11-23-91.76%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthDec 23Dec 22Dec 21Dec 20Dec 19
FaceValue1.001.001.001.001.00
Basic EPS (Rs.)90.0877.3164.0348.9347.61
Diluted EPS (Rs.)90.0777.3163.9648.9347.55
Cash EPS (Rs.)104.2791.3478.4365.5452.67
Book Value[Excl.RevalReserv]/Share (Rs.)299.44245.14216.21180.69162.09
Book Value[Incl.RevalReserv]/Share (Rs.)299.44245.14216.21180.69162.09
Revenue From Operations / Share (Rs.)429.48378.76315.60272.98239.52
PBDIT / Share (Rs.)133.40116.5794.3181.7973.12
PBIT / Share (Rs.)119.20102.4479.7765.1168.02
PBT / Share (Rs.)118.70101.5684.8363.1367.99
Net Profit / Share (Rs.)90.0777.2163.9048.8647.57
NP After MI And SOA / Share (Rs.)90.0777.2163.9048.8647.57
PBDIT Margin (%)31.0630.7729.8829.9630.52
PBIT Margin (%)27.7527.0425.2723.8528.40
PBT Margin (%)27.6326.8126.8823.1228.38
Net Profit Margin (%)20.9720.3820.2417.8919.86
NP After MI And SOA Margin (%)20.9720.3820.2417.8919.86
Return on Networth / Equity (%)30.0831.4929.5527.0429.34
Return on Capital Employeed (%)37.7539.6734.1631.1441.15
Return On Assets (%)19.8619.9318.6016.0720.36
Asset Turnover Ratio (%)1.021.040.650.580.61
Current Ratio (X)2.081.871.791.571.95
Quick Ratio (X)2.081.871.791.571.95
Dividend Payout Ratio (NP) (%)54.3960.7959.3565.4163.01
Dividend Payout Ratio (CP) (%)46.9851.3948.3548.7656.91
Earning Retention Ratio (%)45.6139.2140.6534.5936.99
Cash Earning Retention Ratio (%)53.0248.6151.6551.2443.09
Interest Coverage Ratio (X)266.43133.1476.9941.262298.61
Interest Coverage Ratio (Post Tax) (X)180.9089.1948.0325.651496.43
Enterprise Value (Cr.)31351.8522093.9520741.3113681.2113468.15
EV / Net Operating Revenue (X)9.997.989.026.907.78
EV / EBITDA (X)32.1525.9330.1723.0425.48
MarketCap / Net Operating Revenue (X)10.108.109.147.047.98
Retention Ratios (%)45.6039.2040.6434.5836.98
Price / BV (X)14.4912.5113.3510.6411.79
Price / Net Operating Revenue (X)10.108.109.147.047.98
EarningsYield0.020.020.020.020.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of CRISIL Ltd as of November 24, 2024 is: 5,997.95

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of November 24, 2024, CRISIL Ltd is Undervalued by 9.37% compared to the current share price 5,484.00

Intrinsic Value of CRISIL Ltd as of November 24, 2024 is: 6,761.50

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 24, 2024, CRISIL Ltd is Undervalued by 23.30% compared to the current share price 5,484.00

Last 5 Year EPS CAGR: 12.73%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 45.75%, which is a positive sign.
  2. The stock has a low average Working Capital Days of -28.83, which is a positive sign.
  3. The company has higher reserves (1,251.92 cr) compared to borrowings (24.08 cr), indicating strong financial stability.
  4. The company has shown consistent growth in sales (76.62 cr) and profit (533.92 cr) over the years.
  1. The stock has a high average Cash Conversion Cycle of 58.83, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in CRISIL Ltd:
    1. Net Profit Margin: 20.97%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 37.75% (Industry Average ROCE: 15.43%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 30.08% (Industry Average ROE: 13.49%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 180.9
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 2.08
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 59.9 (Industry average Stock P/E: 97.4)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Crisil Ltd. is a Public Limited Listed company incorporated on 29/01/1987 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L67120MH1987PLC042363 and registration number is 042363. Currently Company is involved in the business activities of Activities auxiliary to financial service activities. Company’s Total Operating Revenue is Rs. 1052.91 Cr. and Equity Capital is Rs. 7.29 Cr. for the Year ended 31/12/2021.
INDUSTRYADDRESSCONTACT
Services - OthersCRISIL House, Central Avenue, Mumbai Maharashtra 400076investors@crisil.com
http://www.crisil.com
Management
NamePosition Held
Mr. Yann Le PallecChairman
Mr. Amish MehtaManaging Director & CEO
Mr. Girish ParanjpeIndependent Director
Ms. Shyamala GopinathIndependent Director
Mr. Amar Raj BindraIndependent Director
Mr. Nishi VasudevaIndependent Director
Mr. Saugata SahaDirector
Mr. Girish GanesanDirector

FAQ

What is the latest intrinsic value of CRISIL Ltd?

The latest intrinsic value of CRISIL Ltd as on 24 November 2024 is ₹5997.95, which is 9.37% higher than the current market price of ₹5,484.00.

What is the Market Cap of CRISIL Ltd?

The Market Cap of CRISIL Ltd is 40,117 Cr..

What is the current Stock Price of CRISIL Ltd as on 24 November 2024?

The current stock price of CRISIL Ltd as on 24 November 2024 is 5,484.

What is the High / Low of CRISIL Ltd stocks in FY 2024?

In FY 2024, the High / Low of CRISIL Ltd stocks is 5,685/3,661.

What is the Stock P/E of CRISIL Ltd?

The Stock P/E of CRISIL Ltd is 59.9.

What is the Book Value of CRISIL Ltd?

The Book Value of CRISIL Ltd is 307.

What is the Dividend Yield of CRISIL Ltd?

The Dividend Yield of CRISIL Ltd is 0.98 %.

What is the ROCE of CRISIL Ltd?

The ROCE of CRISIL Ltd is 41.4 %.

What is the ROE of CRISIL Ltd?

The ROE of CRISIL Ltd is 32.3 %.

What is the Face Value of CRISIL Ltd?

The Face Value of CRISIL Ltd is 1.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in CRISIL Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE