Why is CRISIL Ltd. falling/rising?

4 hours ago
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On 30-Dec, CRISIL Ltd. witnessed a notable decline in its share price, closing at ₹4,215.90, down ₹89.85 or 2.09%. This drop reflects a continuation of the stock’s underperformance relative to benchmarks and sector peers, driven by concerns over growth prospects, valuation, and investor participation.




Recent Price Movement and Market Context


The stock’s decline on 30-Dec was in line with the sector’s downward movement, with the ratings sector falling by 2.32%. Intraday, CRISIL touched a low of ₹4,161.20, marking a 3.36% drop from previous levels. Notably, the share price is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, signalling sustained bearish momentum. This technical weakness is compounded by a sharp fall in delivery volumes, which dropped by 47.41% against the five-day average on 29 Dec, indicating waning investor interest and participation.


Performance Relative to Benchmarks


Over the past year, CRISIL’s stock has underperformed significantly, delivering a negative return of 29.59%, while the Sensex gained 8.21% over the same period. The year-to-date performance is even more stark, with the stock down 36.93% compared to the Sensex’s 8.36% rise. Although the company has shown positive returns over five years, with a gain of 119.80%, this is only marginally better than the Sensex’s 77.34% rise, and the three-year returns lag slightly behind the benchmark. This underperformance highlights concerns about the company’s ability to sustain growth and generate shareholder value in the near term.



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Fundamental Challenges and Valuation Concerns


Despite CRISIL’s strong management efficiency, reflected in a high return on equity (ROE) of 29.44%, the company faces challenges in sustaining robust growth. Over the last five years, net sales have grown at a modest annual rate of 13.49%, while operating profit has increased by 19.79%. These figures suggest moderate expansion but fall short of the expectations set by the company’s valuation metrics.


The stock’s valuation appears stretched, trading at a price-to-book value of 10.9, which is considered very expensive. While this valuation is broadly in line with peers’ historical averages, it raises questions given the company’s flat results reported in September 2025 and the relatively slow growth trajectory. The price-earnings-to-growth (PEG) ratio stands at 3.5, indicating that the stock’s price growth is not adequately supported by earnings growth, which rose by only 11.9% over the past year.


Investor Sentiment and Market Position


Investor sentiment appears cautious, as evidenced by the declining delivery volumes and the stock’s consistent underperformance against the BSE500 index over the last three years, one year, and three months. The company’s low debt-to-equity ratio, averaging zero, and promoter majority ownership provide some stability, but these factors have not been sufficient to offset concerns about growth and valuation.



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Outlook for CRISIL Ltd.


In summary, CRISIL Ltd.’s recent share price decline is primarily driven by a combination of disappointing growth metrics, expensive valuation, and subdued investor interest. While the company maintains strong operational efficiency and a solid balance sheet, these positives have been overshadowed by flat recent results and a lacklustre performance relative to market benchmarks. Investors may remain cautious until the company demonstrates more consistent growth and valuation support.





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