This Credit Ratings Stock Rises 75% in 5 Years: Steady Compounding Behind the Climb

This credit ratings stock has turned Rs 1 lakh into roughly Rs 1.75 lakh over the past five years, before counting a steady stream of dividends. A 5-year return of 75.11% places it 64th in a screen of 101 large-cap and mid-cap NSE shares, as of 10 September 2026.

The company is CRISIL Ltd (NSE: CRISIL), India's largest credit rating agency and a majority-owned subsidiary of S&P Global. The CRISIL share price traded near Rs 4,671 on Friday morning, down about 1.1% from the previous close of Rs 4,721.70, giving the company a market value of approximately Rs 34,246 crore.

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How Much Has This Credit Ratings Stock Returned?

The answer is 75.11% in five years. In September 2021 this credit ratings stock traded around Rs 2,700. It closed at Rs 4,721.70 on 10 September 2026, and there was no stock split or bonus issue in that window, so the gain is genuine price appreciation.

The path was far from a straight line. The credit ratings stock climbed to an all-time high of Rs 6,950 in the last week of December 2024, then gave back a large part of that run through 2025 and early 2026. That is why the shorter windows look weaker than the headline figure.

Period	Return	Rank (out of 101)
1 Month	4.99%	43
6 Months	21.37%	62
1 Year	6.73%	80
3 Years	20.76%	84
5 Years	75.11%	64

The 1-year return of 6.73% ranks 80th, and the 3-year return of 20.76% ranks 84th. For a credit ratings stock, the story is one of slow compounding punctuated by a sharp re-rating and an equally sharp cool-off. The 6-month return of 21.37% shows buyers returning since the March 2026 lows.

The CRISIL share price hit a 52-week low of Rs 3,686 in the week of 30 March 2026 and a 52-week high of Rs 5,115 in mid-September 2025. At about Rs 4,671, the credit ratings stock sits roughly 27% above that low and around 9% below the high.

Why Did This Credit Ratings Stock Rise Over Five Years?

Earnings did most of the work for this credit ratings stock. Total income grew from Rs 2,378 crore in CY2021 to Rs 3,756 crore in CY2025, and net profit rose from Rs 466 crore to Rs 766 crore. Diluted EPS moved from Rs 63.96 to Rs 104.75, a gain of about 64%, which lines up closely with the share price move.

A Growing Bond and Credit Market

Ratings demand tracks borrowing activity. As Indian companies and lenders raised more money through bonds, commercial paper and bank loans, this credit ratings stock benefited as the market leader in corporate bond ratings. Ratings segment revenue grew 18.4% in CY2025, and the Crisil Ratings business alone grew 15.7%.

Recent data supports the theme for this credit ratings stock. Bank credit growth reached 17.7% in May 2026 compared with 9.0% a year earlier, and credit to large corporates rebounded to 14.4%. More lending and more borrowers usually mean more rating mandates and surveillance fees.

Research, Analytics and Global Clients

The larger engine for this credit ratings stock is the research, analytics and solutions segment, which serves global banks, asset managers and S&P Global itself. Through Crisil Coalition Greenwich and its global analytics centre, the company sells benchmarking, risk and data services to international clients, which diversifies revenue away from the domestic rating cycle.

This segment grew 30.1% to Rs 770.85 crore in the June 2026 quarter, and 34% in the March 2026 quarter. The company also acquired PriceMetrix to expand wealth management analytics, and management has been pushing domain-led GenAI tools to lift efficiency.

Consistent Dividends and a Clean Balance Sheet

Investors in this credit ratings stock have also been paid to wait. The total dividend rose from Rs 46 per share for CY2021 to Rs 61 per share for CY2025, and the company has already declared interim dividends of Rs 9 and Rs 10 per share in 2026. Debt to equity stands at about 0.10, and return on equity is around 27%.

Why Has the CRISIL Share Price Lagged Recently?

The short answer is valuation. After the December 2024 spike to Rs 6,950, this credit ratings stock was pricing in faster growth than the business delivered in the first half of 2025. Profit growth of about 12% in CY2025 did not justify that multiple, so the stock drifted lower for more than a year.

Corporate bond issuances also declined 25.7% by value in the June 2026 quarter compared with a year earlier, which weighs on new rating mandates. Weakness in the rupee has produced foreign exchange losses of Rs 8.2 crore in that quarter as well.

The recovery began in April 2026. The credit ratings stock jumped over 6% intraday after March 2026 quarter profit rose 46% to Rs 233.26 crore, and it gained another 3.5% in July after June quarter profit rose 26.2%. That earnings momentum explains the strong 6-month return for this credit ratings stock.

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Credit Ratings Stock Financials: Quarterly Performance

The last five quarters show a clear step up in scale for this credit ratings stock. Total income crossed Rs 1,090 crore in each of the last three quarters, compared with Rs 867 crore in the June 2025 quarter. CRISIL follows a calendar financial year, so the June 2026 quarter is the second quarter of 2026.

Quarter	Total Income (Rs Cr)	EBITDA (Rs Cr)	Net Profit (Rs Cr)	Operating Margin	Net Margin
Jun 2025	866.55	262.30	171.57	31.11%	20.35%
Sep 2025	948.22	300.21	193.10	32.95%	21.19%
Dec 2025	1,108.67	366.67	241.50	33.90%	22.33%
Mar 2026	1,093.67	354.58	233.26	33.52%	22.05%
Jun 2026	1,096.53	329.01	216.46	30.59%	20.13%

Net profit for the first half of 2026 was approximately Rs 450 crore, up around 36% from about Rs 331 crore in the first half of 2025. Income from operations in the June 2026 quarter rose 27.6% to Rs 1,075.4 crore, with ratings revenue up 21.4% to Rs 305.12 crore.

Margins dipped in the June 2026 quarter to 30.59% at the operating level, from 33.52% in the March quarter. Expenses rose about 27% from a year earlier, close to the pace of revenue growth, which held margins back. Trailing twelve-month EPS now stands at Rs 120.92.

Annual Growth Trend

On an annual basis, total income of this credit ratings stock has grown every year of the five-year window: Rs 2,378 crore in 2021, Rs 2,891 crore in 2022, Rs 3,233 crore in 2023, Rs 3,349 crore in 2024 and Rs 3,756 crore in 2025. Net margins have held steady near 20% to 21%, which is rare consistency for a financial services business.

Who Owns This Credit Ratings Stock?

S&P Global, through its group entities, is the promoter and holds 66.64%, a figure that has not changed over the last five quarters. That leaves a relatively small free float, which can make this credit ratings stock more volatile on large institutional trades.

Quarter	Promoter	Institutions (FII + DII)	Non-Institutional
Mar 2025	66.64%	20.06%	13.30%
Sep 2025	66.64%	19.99%	13.38%
Dec 2025	66.64%	19.76%	13.60%
Mar 2026	66.64%	19.78%	13.59%
Jun 2026	66.64%	19.32%	14.04%

Institutional ownership eased slightly to 19.32% in June 2026, while retail and other non-institutional holders rose to 14.04%. Mutual funds have been gradual buyers, lifting their stake to approximately 7.2%, and several large-cap, mid-cap and ELSS schemes hold the credit ratings stock.

Valuation Check: Is the CRISIL Share Price Expensive?

At about Rs 4,671, this credit ratings stock trades at a PE of approximately 38.6 on trailing earnings, against an industry PE of around 35. The price to book ratio is about 10.5, and the dividend yield is roughly 1.3%.

That is a premium, but a much smaller one than in December 2024, when the CRISIL share price peaked at Rs 6,950. The derating over the last 18 months has brought the multiple closer to the sector, while earnings have kept growing.

Key Risks for This Credit Ratings Stock

Bond market cycles: Ratings revenue depends on debt issuance. A slowdown in corporate borrowing, as seen in the 25.7% fall in bond issuance value in the June 2026 quarter, can slow the ratings business.

Regulatory exposure: Rating agencies operate under SEBI oversight. Any rule change on fees, rating methodology or conflicts of interest could affect this credit ratings stock quickly.

Global client concentration: A large share of research revenue comes from overseas banks and S&P Global. Cost cuts at global financial firms or a stronger rupee could hurt growth and margins.

Margin pressure: The operating margin fell to 30.59% in the June 2026 quarter. Rising employee costs in analytics and AI investment may keep margins of this credit ratings stock below their recent peak.

Low free float and premium valuation: With the promoter holding two thirds of the equity, liquidity is limited. A PE near 39 leaves room for disappointment if growth slows.

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CRISIL Share: Analyst View

Analysts see this credit ratings stock as a steady compounder rather than a fast-growth bet. The ratings franchise has a strong position among Indian corporates, and the global analytics business gives it a second growth leg linked to international demand.

The recent quarters have improved sentiment. Profit growth of 46% in the March 2026 quarter and 26.2% in the June 2026 quarter came after a year of slower growth, and bank credit growth near 17.7% supports the ratings pipeline.

CRISIL Share Price Target

The consensus CRISIL share price target among tracking analysts is approximately Rs 5,100, with estimates ranging from about Rs 5,050 to Rs 5,250. That implies roughly 8% to 12% upside from about Rs 4,671.

The CRISIL share price target range sits just around the 52-week high of Rs 5,115, which makes that level an important resistance zone. On the downside, the 52-week low of Rs 3,686 is the key support. Any target for this credit ratings stock is an estimate and can change with quarterly results.

Conclusion

This credit ratings stock delivered 75.11% over five years on the back of steady earnings growth, a leading position in Indian bond ratings, an expanding global analytics business and a rising dividend. The ride included a peak at Rs 6,950 and a fall to Rs 3,686, which is why the 1-year return is only 6.73%.

For long-term investors, the CRISIL share price now reflects a more reasonable multiple than at the 2024 peak, and recent results show growth picking up. The risks for this credit ratings stock lie in bond market cycles, regulation and margins, so position sizing and patience matter more than timing.

Frequently Asked Questions

Which credit ratings stock rose 75% in 5 years?

Ans. CRISIL Ltd (NSE: CRISIL) is the credit ratings stock that gained approximately 75.11% over five years as of 10 September 2026. It ranked 64th among 101 large-cap and mid-cap NSE stocks on that measure.

Why did the CRISIL share price rise over five years?

Ans. Net profit grew from Rs 466 crore in CY2021 to Rs 766 crore in CY2025, driven by higher bond ratings demand and a growing global research and analytics business. Rising dividends and a debt-light balance sheet also supported the stock.

What is the CRISIL share price target?

Ans. The consensus target for this credit ratings stock is approximately Rs 5,100, with a range of about Rs 5,050 to Rs 5,250. That implies roughly 8% to 12% upside from around Rs 4,671, but targets are estimates, not assurances.

What were CRISIL's June 2026 quarter results?

Ans. Net profit of the credit ratings stock rose 26.2% to Rs 216.5 crore and income from operations grew 27.6% to Rs 1,075.4 crore. Research, analytics and solutions revenue rose 30.1%, while ratings revenue grew 21.4%.

Why is the 1-year return of CRISIL so low?

Ans. The credit ratings stock peaked at Rs 6,950 in December 2024 and then corrected as valuations cooled and profit growth slowed to about 12% in CY2025. It fell to a 52-week low of Rs 3,686 in March 2026 before recovering to about Rs 4,671.

Who is the promoter of CRISIL?

Ans. S&P Global, through its group entities, is the promoter and holds 66.64% of CRISIL. Institutions hold about 19.32% and non-institutional investors about 14.04% as of June 2026.

Is this credit ratings stock overvalued?

Ans. The PE of approximately 38.6 is above the industry PE of around 35, so the stock still trades at a premium. However, that premium is much smaller than at the December 2024 peak, and earnings growth has picked up in 2026.

Does CRISIL pay dividends?

Ans. Yes, CRISIL paid a total dividend of Rs 61 per share for CY2025 and has declared interim dividends of Rs 9 and Rs 10 per share so far in 2026. The dividend yield of this credit ratings stock is roughly 1.3% at the current price.