CRISIL Limited CC-Mar25.pdf · 2025-05-06
Hello, and good evening to everyone. My question is on the Research, Analytics and Solution division. So, we've had negative growth last year in 2024, and the first quarter as well, the growth has only been 2%. So, while I understand that there are tariffs and a lot of the discretionary spending is not in your hands directly, how do you see this division going ahead in 2025 or 2026? Do you see the challenges continuing? Do you see it turning around anytime soon? How are you seeing it?
Okay. Got it. Thank you so much. I'm sorry to repeat this again. I know a couple of analysts already spoke about this, but the growth in the India rating business is really sort of surprising because this 30% number, it's a number we've rarely seen in the history of the company, as well as the industry, as well as the competitors' numbers. So something drastically must have changed because you've grown 30%, 20%, and then 32% again for three quarters now. So has the market share been that drastic that the other companies, that when the industry is growing 10%, 12%, you're going 30%? Something does not add up here.