CRISIL conducted a conference call on 19 April 2023 to discuss the financial results for the quarter and year ended March 2023 and prospects. Amish Mehta, MD&CEO addressed the call:

Highlights:

The company has witnessed growth across businesses stemming from demand for insights and analytics, amid macro and global market uncertainties.

Ratings Services delivered revenue growth supported by higher corporate bond issuances (both, by quantum and number of issuers), and robust bank credit growth, which drove bank loan ratings  The ratings services segment saw revenue growth of 16.1% on-year in the quarter. While bank credit growth softened relatively compared with the previous quarter, it continues to be robust, driving bank loan ratings

Research, Analytics and Solutions segment saw traction for risk solutions, benchmarking, sustainability, and infrastructure consulting

The company has continued investment in technology infrastructure and talent. These investments turning profitable would add to growth.

Global Analytical Center (GAC) saw robust surveillance work delegation by S&P Global Ratings.

Global Research & Risk Solutions (GR&RS) witnessed momentum across research, credit risk and market risk solutions. The business also added new logos during the quarter.

Global Benchmarking Analytics (GBA) continues to strengthen its client engagement driven by need for granular, actionable analytics and intelligence among clients.

Market Intelligence & Analytics (Ml&A) saw traction for its proprietary credit risk solutions, and momentum in sustainability, research and consulting offerings.

The Research, Analytics & Solutions segment grew 21.7% on-year in the quarter.

The company has expanded footprint in Asia-Pacific with the acquisition of Peter Lee Associates.

The company has maintained market-leading position in the Ratings business, driven by investor preference for best-in-class ratings

The company generated new insights for clients in corporate and investment banking (CIB), with combined data sets from Coalition-Greenwich

It also expanded wallet share with top clients in global CIBs and asset managers, and domestic financial institutions.

The company has strengthened credit monitoring practices for global banks by benchmarking and streamlining processes.

The company has ramped up digital and foundational infrastructure with sharp focus on cloud and infosec. It launched Phoenix, a scalable and self-catering platform for faster, more efficient data processing.

The company has rolled out Q2, the integrated Qualitative and Quantitative benchmarking analytics. It also launched the updated version of the next-gen big data analytics and reporting platform – Fulkrum. It has developed new capabilities for non-financial data in Quantix and enhanced Alphatrax.

Appreciation in the Indian rupee and the British pound versus the US dollar had an adverse foreign exchange impact in the first quarter of 2023, compared with a gain in the corresponding quarter of the previous year. Movement in the US dollar versus the Rupee and the British pound supported profitability in the year ended December 2022, which includes Rs 30.1 crore from revaluation of subsidiary loan.

The company sees many opportunities to grow topline. The regulatory mandates following heightened scrutiny across global banks is leading to opportunities in non-discretionary spends across clients.

The platform simplification and integration to optimize business operations, workflows and infrastructure spend would drive growth for core risk, technology and managed services.

An increased demand for sustainability leading to opportunities across ESG services, climate risk assessment and modeling.