Page 65 - Index

Mission-Critical Decisions, Made with Confidence.
The scaling of product offering
and client engagement
strengthened demand for
our benchmarking solutions
from large commercial banks.
Crisil Integral IQ was impacted
by curtailed discretionary
spending by global clients.
Crisil Coalition Greenwich
 Crisil Coalition Greenwich benefitted from momentum
in corporate and investment banking (CIB). The scaling
of product offering and client engagement strengthened
demand from large commercial banks.
 The corporate and investment banking (CIB) space
continues to evolve as segments such as Private Credit
Markets present new opportunities for banks. We also see
regional banks making investments to expand their product
and regional footprint. As a result, we continue to evolve
our offerings to meet the demands of the changing market
environment and our clients.
 The growth in our Commercial and Community Banking (CCB)
solutions was bolstered by digital banking programmes. In
Investment Management (IM), traditional asset managers
continue to struggle with the focus shifting to alternatives
/ private markets. In market structure and technology,
strong recognition of our thought leadership across major
financial publications has continued to raise our profile in
the industry.
Analysis of consolidated financial performance
and result of operations
Consolidated financial statements include financial
statements of Crisil Limited combined with its wholly owned
subsidiaries (the Group). Subsidiaries are entities controlled
by the Company.
Financial statements of the Group and its subsidiaries
have been combined on a line-by-line basis by adding
the book values of like items assets, liabilities, income
and expense, after duly eliminating intra-group balances
and transactions.
Consolidated financial statements have been prepared
in accordance with the Indian Accounting Standards
(hereinafter referred to as the ‘Ind AS’) as notified by
Ministry of Corporate Affairs pursuant to Section 133 of
the Companies Act, 2013 read with Rule 3 of the Companies
(Indian Accounting Standards) Rules, 2015 as amended
from time to time. Financial statements have been prepared
under historical cost convention on an accrual basis except
for certain financial instruments, which are measured at
fair value at the end of each reporting period. Management
accepts responsibility for the integrity and objectivity of
financial statements as well as for various estimates and
judgment used therein.
The consolidated financial performance and result
of operations are relevant for understanding
Crisil’s performance.
A. Financial performance
1. Property, plant and equipment, right of use assets
and other intangible assets
The Group’s investments in property, plant, and
equipment represent the cost of buildings, leasehold
improvements, computers, office equipment, furniture,
fixtures, and vehicles. Property, plant, and equipment
are measured at cost less accumulated depreciation
and impairment losses, if any.
The Group’s right of use assets consists of office
premises. The right of use assets is measured at cost
less any accumulated depreciation, and accumulated
impairment losses, if any and adjusted for any
remeasurement of the lease liability.
The Group’s other intangible assets represent
software, customer relationship, technology,
database, tradename, platform and brand are stated
at cost of acquisition or construction less accumulated
amortisation and impairment losses, if any. The
estimated useful lives of intangible assets and the
amortization period are reviewed at the end of each
financial year.
During the year, the Group capitalised C 409.06 crore
to its gross block. Capitalised assets includes office
equipment, computers, software, furniture, fixtures,
vehicles, leasehold improvements and right of use
of assets.
The Group expects to fund its investments in fixed
assets and infrastructure from internal accruals and
liquid assets.
Annual Report 2024
63
Statutory Reports