CRISIL Q2 FY26 Results: PAT up 12.6%, Revenue 12.2%

Market snapshot around the update

CRISIL’s stock was quoted around the 4,080 level in the provided market data, with one print showing 4,080 (-0.10%). The same feed also showed an NSE quote of 4,089.90, up 2.60 (0.06%). The “Today” price in the dataset was 4,075.00. The timestamp attached to the quote was Thu, 25 Jun 2026 (15:29:55). These values indicate a narrow range around the mid-4,000s during the referenced session.

Q2 FY26 headline numbers: consolidated performance

The article data states CRISIL delivered year-on-year growth in Q2 FY26 on a consolidated basis. Consolidated revenue was reported at ₹911.24 crore in Q2 FY26 versus ₹811.24 crore in Q2 FY25. Consolidated profit after tax (PAT) was ₹193.10 crore in Q2 FY26 versus ₹171.55 crore in Q2 FY25. The data also states consolidated revenue increased 12.24% year-on-year and PAT increased 12.56% year-on-year.

CRISIL’s results in the material are referenced as having been shown on 17 October 2025. The text also expands CRISIL as Credit Rating Information Services of India Limited.

Q2 FY26 vs FY25: standalone numbers were mixed

Alongside consolidated growth, the dataset flags a different picture on a standalone basis for the same quarter. Standalone revenue for Q2 FY26 was stated at ₹453.17 crore compared with ₹406.35 crore in Q2 FY25. Standalone PAT for Q2 FY26 was ₹137.39 crore, while the FY25 base in the dataset is ₹201.12 crore. Based on those figures, the standalone PAT is described as down 31.69% year-on-year even as standalone revenue rose 11.52% year-on-year.

This split between consolidated and standalone trends is important for readers tracking where earnings are being generated and how group structure affects reported growth.

Quarterly table in the dataset: Jun 25 vs Mar 26 (QoQ)

The provided “Quarterly - CRISIL Ltd Q2 Results” table compares Jun 25 with Mar 26 on a quarter-on-quarter basis and lists expenses, revenue, operating income, and earnings metrics.

The same dataset also includes a note that the comparison is on a QoQ basis. While the “QoQ Comp” column is present in the source, the percentage labels appear inconsistent with the direction of change for several line items. This article therefore focuses on the reported absolute figures shown in the table.

Management commentary and operating context from the transcript

A transcript-style section in the material discusses performance for a quarter ending June 30, 2025, with official documents referenced as having come out on July 22, 2025. It states consolidated income from operations for “Q2 2025” rose 5.7% year-on-year to ₹843.0 crore. It also states profit before tax (PBT) increased 8.2% to ₹225.0 crore and profit after tax increased 14.3% to ₹171.6 crore.

For the first half of 2025, the same transcript reports consolidated income from operations of ₹1,656.2 crore, up 7.9% year-on-year. It also reports PBT of ₹452.4 crore, up 12.1%, and PAT of ₹331.4 crore, up 15.1%. These figures provide additional historical context in the dataset for CRISIL’s operating trajectory.

Segment signals: ratings and research-led businesses

The transcript includes metrics linked to credit markets and the ratings franchise. It states CRISIL saw likely traction in corporate bond issuances and cites a 62% year-on-year increase in corporate bond issuances for Q2 2025. It also states “revenue for ratings” grew 15.7% year-on-year in Q2.

In addition, the transcript reports a segment’s income from operations rose 18.0% to ₹250.7 crore, with segment profit up 18.6% to ₹102.6 crore and a margin of 40.9%. Another segment in the same transcript is reported at ₹592.3 crore of income from operations (up 1.3%), segment profit of ₹118.8 crore (down 2.9%), and a margin of 20.1%.

Dividend and shareholder payout items mentioned

The dataset mentions an interim dividend of ₹9 per share, up from ₹8 in the same quarter last year, and payable on August 8, 2025. Separately, a later section referring to audited financial results for the year ended December 31, 2025 mentions three interim dividends totalling ₹33 per share and a recommended final dividend of ₹28 per share. That would take the total dividend for the year to ₹61 per share, compared with ₹56 per share in the previous year, as stated.

FY2025 audited numbers included in the material

The dataset includes audited results for the quarter and year ended December 31, 2025. For Q4 2025, it reports consolidated income from operations of ₹1,081.6 crore versus ₹912.9 crore in Q4 2024. It reports consolidated total income of ₹1,108.7 crore versus ₹943.2 crore, PBT of ₹326.5 crore versus ₹294.5 crore, and PAT of ₹241.5 crore versus ₹224.7 crore.

For FY2025, it reports consolidated income from operations of ₹3,649.0 crore versus ₹3,259.8 crore in FY2024, and consolidated total income of ₹3,755.6 crore versus ₹3,349.4 crore. It also states profit after tax rose 12.0% to ₹766.0 crore from ₹684.1 crore. The same section notes the results include an impact of new labour codes of ₹16.8 crore for the fourth quarter and year ended December 31, 2025.

Outlook points and analyst targets cited

Two macro outlook estimates are included in the dataset. One section states CRISIL expects India’s GDP to hold up around 6.5% in fiscal 2026, while another states CRISIL expects India’s GDP to grow 6.7% in the next fiscal (April 1, 2026 to March 31, 2027). The transcript also flags downside risks such as possible US tariff moves and a slowdown in global activity.

The dataset also cites analyst expectations for the share price, suggesting a potential level of ₹5,210.30 per share in the coming year and ₹4,890.50 per share in a downturn. These are presented as analyst views in the material and are not a company statement.

What investors may track next

Across the various sections of the dataset, the recurring investor watchpoints are the balance between consolidated growth and standalone profit movement, the pace of ratings-linked activity, and dividend signalling. Investors may also track how CRISIL’s stated macro view on GDP aligns with credit markets, including corporate bond issuance trends referenced in the transcript. Any upcoming investor presentations, including the one referenced as to be published on CRISIL’s website, could provide additional segmentation and margin detail.