Highlights:

The company continued with its strong position in rating and research business in India. The company has continued strong track record of double-digit revenue growth for past decade.

The company has strong global presence with a employee base of 4200 employees end March 2022 spread across 11 countries.

The company has delivered strong growth and higher margins strong performance across all business segments in CY2021 and Q1CY2022.

The focus on customer centricity has led to robust client additions across business segments

Launched several innovative products and solutions across the credit, risk and regulatory space

The inflationary trends, rising interest rates in the developed economies, and geopolitical situation, has introduced additional volatility and impacted investor appetite in the global markets.

In India, corporate bond issuances declined 15% by value and 22% by quantum in Q1CY2022. Bank credit growth to the large corporate segment was muted.

The company continues to strengthen its leading position in the corporate bond market, driven by investor preference for best-in-class ratings, and added new clients during the quarter, while saw robust traction across risk transformation, credit risk, buy-side research and sustainability

In the Research segment, Global Research and Risk Solutions (GR&RS) added new logos across verticals in the US and Europe. The business continues to focus on research, risk, regulatory support, and transformation.

The Global Benchmarking Analytics (GBA) business saw healthy growth in the first quarter on the back of new logo additions and increased engagements with key clients in the corporate, commercial, and investment banking space.

The India Research business witnessed growth following the pick-up in economic activity with increased traction for data, sustainability and capital market research offerings.

Infrastructure Advisory won mandate with multilaterals and corporates.

In the infrastructure advisory space, the company expects focus on infrastructure and technology adoption to create needs for advisory services, analytics and digital solutions.

The higher budgeted Infra capex proposed for 2022 with areas of focus such as Roads, Ports, Logistics and Energy. The higher allocation under PLI scheme to give a fillip to renewables and sustainability themes.

Business Intelligence and Risk Services (BIRS) deepened its wallet share with domestic banking clients and saw good traction for its credit risk solutions.

The company enhanced digital and cloud quotient and strengthened information security capabilities.

The company continued accelerated investments people and technology

The acquired Greenwich business had loss last year, which was turnaround to profit in Q1CY2022.

The operating leverage and cost control has also contributed to the profitability.

The company will continue to invest in the talent and technology in the near and the medium term

The company expects banking sector loan growth of 11-12% for FY2023 to be driven by all sectors.

Some of the major business risks include uncertain geopolitical environment, higher employee cost inflation and currency movements etc.