CREDIT RATING INFORMATION SERVICES OF INDIA LTD – CRISIL

CREDIT RATING INFORMATION SERVICES OF INDIA LTD – CRISIL

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Company Overview
Credit Rating Information Services of India Limited – CRISIL, a Standard & Poor’s company, is India’s leading ratings, research, risk and policy advisory group. Established in 1987, CRISIL offers domestic and international customers a unique combination of local insights and global perspectives, delivering independent information, opinions and solutions that help them make better informed business and investment decisions, improve the efficiency of markets and market participants, and help shape infrastructure policy and projects.
CRISIL’s group businesses are divided into: ratings, research and advisory. The ratings business segment is represented by CRISIL Ratings, the only ratings agency in India to operate on the basis of sectoral specialisation; and CRISIL FundServices, India’s leading provider of fund evaluation services and risk solutions to the mutual fund industry. The research segment comprises of CRISIL Research, India’s largest independent integrated research house providing accurate and reliable research, analysis and forecasts on the Indian economy, industries and companies; and The Centre for Economic Research, which is uniquely positioned to provide benchmarks and analyses for India’s policy and business decision makers. The advisory division consists of CRISIL Infrastructure Advisory, which enhances CRISIL’s franchise in the areas of policy-making and economic development; Gas Strategies Group Limited (earlier known as EconoMatters Group) of Gas Information & Solutions, a leading global consulting firm in the domain of natural gas and liquefied natural gas (LNG); Alphatania, a one-of-a-kind training system that builds institutional capabilities in gas businesses globally through simulated case studies, lectures and staff access; and others.
Business Summary
The Company is mainly engaged in the areas of credit ratings and risk assessment; gas and infrastructure advisory; research on India’s economy, industries, and companies; investment research outsourcing; fund services; and risk management. It provides credit ratings for financial institutions, non-banking financial companies, insurance companies, and mutual funds, as well as pharmaceutical, telecom, and infrastructure sectors. The Company has a joint venture with the National Stock Exchange of India Limited to provide various indices and index-related services and products to the capital markets.
Description and history
The Company is mainly engaged in the areas of credit ratings and risk assessment; gas and infrastructure advisory; research on India’s economy, industries, and companies; investment research outsourcing; fund services; and risk management. It provides credit ratings for financial institutions, non-banking financial companies, insurance companies, and mutual funds, as well as pharmaceutical, telecom, and infrastructure sectors. The Company has a joint venture with the National Stock Exchange of India Limited to provide various indices and index-related services and products to the capital markets.

The Company was incorporated on Jan. 29, 1987, Standard & Poor now has a majority shareholding in CRISIL. The chairman of the Company is B.V. Bhargava and Roopa Kudva, the managing director and chief executive officer.
The Company is the only ratings agency in India to operate on the basis of sectoral specialization. Partnering Standard & Poor, CRISIL provides independent credit ratings, indices, risk evaluation, investment research, data and valuations, anticipates new market challenges and introduces value-added ratings methodologies.
The Company became one of the few rating agencies in the world to be listed on a stock exchange when it made its initial public offer in November 1993. The Company widened its rating activities to include newer instruments and issuers including structured obligations, state government ratings and municipal bond ratings. The Company’s market share in the ratings business is around 45-50%. In February 1996, The Company entered into a strategic business alliance with New York-based Standard & Poor’s ratings group to exploit the growing international financing options available to Indian issuers. The company also invested more resources into two other divisions: information and advisory services. Crisil Research & Information Services (CRIS), disseminates value-added research and undertakes customised studies in 4 areas: economy, capital markets, industries and corporates. Crisil Advisory Services (CAS) offers financial advisory services focusing on transaction and policy level assignments in infrastructure, banking & finance and disinvestment & privatisation. In FY98, Crisil promoted a new JV with the National Stock Exchange and Standard & Poor’s Financial Information Services for carrying out index related activities.
In February 2000, the Company acquired INFAC owned by Information Products and Research Services (India) Pvt. Ltd. for Rs 7 crore. The Company in March 2000 announced a strategic alliance with National Economic Research Associates for providing adivisory assistance in regulation and regulatory reforms in the energy sector.
CRISIL Research is India`s largest independent integrated research house providing research, analysis and forecasts on the Indian economy, industries and companies to over 500 Indian and international clients across financial, corporate, consulting and public sectors. The Company has recently added equity research by acquiring Irevna, a leading global equity research and analytics company. The Company now provides high-end customized equity research and analytics, and knowledge process outsourcing to the world`s leading financial institutions, investment banks, private equity firms and consulting companies.
The Company has transferred it’s advisory business (CRISIL Infrastructure Advisory and CRISIL Investment & Risk Management Services) into a 100% subsidiary CRISIL Risk and Infrastructure Solutions. The infrastructure advisory enhances CRISIL`s franchise in the areas of policy-making and economic development. The Company has acquired UK`s leading gas advisory and information company, Gas Strategies Group and its subsidiary companies and provides services through CRISIL FundServices, GasStrategiesOnline, Alphatania, Gas Matters and GasMattersOnline. In 2006, the company launched IPO gradings, broker ratings, SME ratings etc.
The Company changer it’s name from Credit Rating Information Services Limited to CRISIL Ltd. on December 01, 2004.
Recent Developments
13-FEB-08
The Company has partnered with Equifax Inc and Tata Capital, to set up a credit information bureau in India and has sought regulatory permission.
12-DEC-07
The Company stepped into a memorandum of understanding with United Bank of India to rate the bank`s client exposures under the standardised approach of Reserve Bank of India`s New Capital Adequacy Framework for Basel-II.

At the core of CRISIL are its unimpeachable credibility and unmatched analytical rigour.

Leveraging these core strengths, CRISIL delivers opinions and solutions that
» Help clients mitigate and manage their business & financial risks
» Make markets function better
» Shape public policy

CRISIL supports these through its unique width of offerings: Ratings & Risk Assessment, Gas & infrastructure Advisory, Financial News Services, Economic Advisory Integrated research on the Economy, Industries & Companies, Global equity research, Fund Services and Risk Management.

CRISIL’s majority shareholder is Standard & Poor’s, the world’s foremost provider of independent credit ratings, indices, risk evaluation, investment research, data and valuations.

Business Line
Offers domestic and international customers a unique combination of local insights and global perspectives, delivering independent information, opinions and solutions that help them make better informed business and investment decisions, improve the efficiency of markets and market participants, and help shape infrastructure policy and projects
Subsidiary
CRISIL CREDIT INFORMATION SERVICES LTD.
Advisor
S. R. BATLIBOI & CO
IPO date
11/1993
US SIC Code
7323
Company Address
CRISIL House
121-122, Andheri Kurla Road, Andheri (East)
City province or state postal code
400 093, MUMBAI
Phone: +91 22 5691 3001
Fax: +91 22 56913000
Country address: INDIA
Website url: www.crisil.com