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Mission-Critical Decisions, Made with Confidence.
2.6 The consolidated financial statements represent consolidation of accounts of the Company, its
subsidiaries as detailed below:
Name of the entities Country of
incorporation
Ownership in % either directly or
through subsidiaries
Crisil Ratings Limited India 100% 100%
Crisil ESG Ratings & Analytics Limited (refer to note 45.2) India 100% 100%
Bridge To India Energy Private Limited (refer to note 45.1) India December 31,
2023
100% December 31,
2024
100%
100% 100%
Crisil Irevna UK Limited United Kingdom 100% 100%
Financial Statements
Crisil Irevna US LLC (refer to note 45.3) Columbia 100% 100%
United States of America Crisil Irevna Information Technology Colombia SAS
(refer to note 45.5)
Crisil Irevna Argentina S.A. Argentina 100% 100%
Crisil Irevna Poland Sp.zo.o. Poland 100% 100%
Coalition Development Limited United Kingdom 100% 100%
Coalition Development Singapore Pte Limited Singapore 100% 100%
Crisil Irevna Information Technology (Hangzhou) Co., Ltd China 100% 100%
Crisil Irevna Australia Pty Ltd Australia 100% 100%
Peter Lee Associates Pty. Limited (refer to note 45.4) Australia 100% 100%
Greenwich Associates Singapore PTE. LTD. Singapore 100% 100%
Greenwich Associates Japan K.K. Japan 100% 100%
Greenwich Associates UK Limited United Kingdom 100% 100%
2.7 Property, plant and equipment
Property, plant and equipment (PPE) are measured at
cost less accumulated depreciation and impairment
losses, if any. Amount capitalised under property, plant
and equipment includes purchase price, duties and
taxes, other incidental expenses incurred during the
construction / installation stage. If significant parts
of an item of property, plant and equipment have
different useful lives, then they are accounted for as
separate items (major components) of property, plant
and equipment.
An item of property, plant and equipment is
derecognised upon disposal or when no future
economic benefits are expected to arise from the
continued use of the asset. Any gain or loss on
disposal of an item of property, plant and equipment
is recognised in the statement of profit and loss.
Capital work in progress comprises of the cost of PPE
that are not ready for their intended use as of balance
sheet date.
2.8 Goodwill and other intangibles assets
Goodwill is not amortised but it is tested for
impairment annually or more frequently if events or
changes in circumstances indicate that the asset may
be impaired, and is carried at cost less accumulated
impairment losses. Gains and losses on the disposal
of an entity include the carrying amount of goodwill
relating to the entity sold.
Other intangible assets are carried at cost less
accumulated amortisation and impairment losses, if
any. The cost of an intangible asset comprises of its
purchase price, including any import duties and other
taxes (other than those subsequently recoverable from
the taxing authorities), and any directly attributable
expenditure on making the asset ready for its
intended use. Intangible assets arising on acquisition
of business are measured at fair value as at date of
acquisition. Subsequent expenditure is capitalised
only if it is probable that the future economic benefits
associated with the expenditure will flow to the Group.
The amortisation expense on intangible assets with
finite life is recognised in the statement of profit and
loss under the head ‘Depreciation and amortisation
expense’.
Expenditure on development eligible for capitalisation
are carried as intangible assets under development
where such assets are not yet ready for their
intended use.
Annual Report 2024
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