CRISIL 2018-19 Annual Report Analysis

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

CRISIL 2018-19 Annual Report Analysis
Wed, 4 Nov

CRISIL has announced its results for the year ended December 2019. Let us have a look at the detailed performance review of the company during FY18-19.

CRISIL Income Statement Analysis

  • Operating income during the year fell 1.0% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 3.3% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 26.3% in CY19 as against 27.0% in CY18.
  • Depreciation charges decreased by 13.9% and finance costs decreased by 89.7% YoY, respectively.
  • Other income declined by 0.8% YoY.
  • Net profit for the year declined by 5.3% YoY.
  • Net profit margins during the year declined from 19.9% in CY18 to 19.1% in CY19.

CRISIL Income Statement 2018-19

No. of Mths Year Ending 12 Dec-18* 12 Dec-19* % Change
Net Sales Rs m 17,485 17,317 -1.0%
Other income Rs m 734 728 -0.8%
Total Revenues Rs m 18,219 18,046 -1.0%
Gross profit Rs m 4,712 4,558 -3.3%
Depreciation Rs m 428 369 -13.9%
Interest Rs m 22 2 -89.7%
Profit before tax Rs m 4,996 4,916 -1.6%
Tax Rs m 1,365 1,476 8.2%
Profit after tax Rs m 3,631 3,440 -5.3%
Gross profit margin % 27.0 26.3
Effective tax rate % 27.3 30.0
Net profit margin % 19.9 19.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Discover Now: One Stock for Potentially Life-changing Gains

CRISIL Balance Sheet Analysis

  • The company's current liabilities during CY19 stood at Rs 5 billion as compared to Rs 5 billion in CY18, thereby witnessing an increase of 3.8%.
  • Long-term debt down at Rs 0 million as compared to Rs 1 million during CY18, a fall of 50.0%.
  • Current assets rose 17% and stood at Rs 10 billion, while fixed assets fell 10% and stood at Rs 721 million in CY19.
  • Overall, the total assets and liabilities for CY19 stood at Rs 17 billion as against Rs 16 billion during CY18, thereby witnessing a growth of 3%.

CRISIL Balance Sheet as on December 2019

No. of Mths Year Ending 12 Dec-18* 12 Dec-19* % Change
Networth Rs m 11,363 11,719 3.1
 
Current Liabilities Rs m 4,759 4,938 3.8
Long-term Debt Rs m 1 0 -50.0
Total Liabilities Rs m 16,338 16,887 3.4
 
Current assets Rs m 8,249 9,650 17.0
Fixed Assets Rs m 801 721 -10.0
Total Assets Rs m 16,338 16,887 3.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



CRISIL Cash Flow Statement Analysis

  • CRISIL's cash flow from operating activities (CFO) during CY19 stood at Rs 4 billion, an improvement of 17.8% on a YoY basis.
  • Cash flow from investing activities (CFI) during CY19 stood at Rs -710 million on a YoY basis.
  • Cash flow from financial activities (CFF) during CY19 stood at Rs -2 billion on a YoY basis.
  • Overall, net cash flows for the company during CY19 stood at Rs 1 billion from the Rs 1 billion net cash flows seen during CY18.

CRISIL Cash Flow Statement 2018-19

Particulars No. of months 12 12 % Change
Year Ending Dec-18 Dec-19
Cash Flow from Operating Activities Rs m 3,785 4,459 17.8%
Cash Flow from Investing Activities Rs m -718 -710 -
Cash Flow from Financing Activities Rs m -2,032 -2,289 -
Net Cash Flow Rs m 1,108 1,396 26.0%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for CRISIL

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 47.6, an decline from the EPS of Rs 50.3 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 1,983.6, stands at 42.2 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 9.9 times, while the price to sales ratio stands at 6.7 times.
  • The company's price to cash flow (P/CF) ratio stood at 37.7 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Dec-18* 12 Dec-19*
Sales per share (Unadj.) Rs 242.4 239.5
TTM Earnings per share Rs 50.3 47.6
Diluted earnings per share Rs 50.2 47.6
Price to Cash Flow x 35.2 37.7
TTM P/E ratio x 42.1 42.2
Price / Book Value ratio x 11.6 9.9
Market Cap Rs m 143,057 143,414
Dividends per share (Unadj.) Rs 30.0 32.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for CRISIL

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 2.0x during CY19, from 1.7x during CY18. The current ratio measures the company's ability to pay short-term and long-term obligations.

    Interest Coverage Ratio: The company's interest coverage ratio improved and stood at 2,138.3x during CY19, from 225.0x during CY18. The interest coverage ratio of a company states how easily a company can pay its interest expense on outstanding debt. A higher ratio is preferable.

  • Profitability Ratios
  • Return on Equity (ROE): The ROE for the company declined and down at 29.3% during CY19, from 32.0% during CY19. The ROE measures the ability of a firm to generate profits from its shareholders capital in the company.

    Return on Capital Employed (ROCE): The ROCE for the company declined and down at 42.0% during CY19, from 44.2% during CY18. The ROCE measures the ability of a firm to generate profits from its total capital (shareholder capital plus debt capital) employed in the company.

    Return on Assets (ROA): The ROA of the company declined and down at 20.4% during CY19, from 22.4% during CY18. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Dec-18* 12 Dec-19*
Current ratio x 1.7 2.0
Debtors’ Days Days 59 42
Interest coverage x 225.0 2,138.3
Debt to equity ratio x 0.0 0.0
Return on assets % 22.4 20.4
Return on equity % 32.0 29.3
Return on capital employed % 44.2 42.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how CRISIL has performed over the last 5 years, please visit here.

CRISIL Share Price Performance

Over the last one year, CRISIL share price has moved up from Rs 1,504.7 to Rs 1,983.6, registering a gain of Rs 478.9 or around 31.8%.

Overall, the S&P BSE SENSEX is up 0.3% over the year.

(To know more, check out historical annual results for CRISIL and quarterly results for CRISIL)

Equitymaster requests your view! Post a comment on "CRISIL 2018-19 Annual Report Analysis". Click here!

  

Related Views on News

CRISIL Announces Quarterly Results (4QFY20); Net Profit Up 15.0% (Quarterly Result Update)

Apr 24, 2020 | Updated on Apr 24, 2020

For the quarter ended March 2020, CRISIL has posted a net profit of Rs 881 m (up 15.0% YoY). Sales on the other hand came in at Rs 4 bn (up 2.9% YoY). Read on for a complete analysis of CRISIL's quarterly results.

CRISIL Announces Quarterly Results (3QFY20); Net Profit Down 16.2% (Quarterly Result Update)

Feb 17, 2020 | Updated on Feb 17, 2020

For the quarter ended December 2019, CRISIL has posted a net profit of Rs 953 m (down 16.2% YoY). Sales on the other hand came in at Rs 5 bn (down 0.6% YoY). Read on for a complete analysis of CRISIL's quarterly results.

More Views on News

Most Popular

Time to Buy Smallcaps?(Fast Profits Daily)

Apr 30, 2021

In this video, I'll show you why I favour smallcaps over the Nifty.

The Next Smallcap Winners(Profit Hunter)

Apr 30, 2021

Price is the only due diligence one might require to buy this business.

Sell in May and Go Away?(Fast Profits Daily)

Apr 28, 2021

Does the concept of selling stocks in the month of May, work in the Indian market?

This Fund Manager Has Taken the World by Storm. Will You Invest With Her?(Profit Hunter)

Apr 26, 2021

Should you invest with this Rockstar fund manager who has outperformed in a big way?

More

India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms

TRACK CRISIL

COMPARE CRISIL WITH

MARKET STATS