CRISIL IN EQUITY
loading…—
Day range—
52-week range—
Market cap—
P/E · TTM—
As of—
| CUSTOMER | BASIS | EST ₹CR | RANGE | % REV | BUCKET | PERIOD | METHOD | CONF |
|---|---|---|---|---|---|---|---|---|
| Business | REV SHARE | 3,284 | 3,284–3,284 | 90.0% | — | 2023-04 | DISC | 90% |
| “Details of business activities (accounting for 90% of the turnover): Sr. No. Description of Main Activity Description of Business Activity % of Turnover of the…” AR · +2 DOC | ||||||||
| Business | REV SHARE | 3,284 | 3,284–3,284 | 90.0% | COGS | 2026-10 | DISC | 90% |
| “Details of business activities (accounting for 90% of the turnover): Sr. No. Description of Main Activity Description of Business Activity % of Turnover of the…” AR · +2 DOC | ||||||||
| HDFCBANKHDFC Bank Ltd. | UNSTATED | 3,284 | 3,284–3,284 | 90.0% | — | 2026-10 | EST | 75% |
| “Fax: +91 22 49186060 Bank / Financial Institution Axis Bank Limited Bank of Baroda Bank of Bahrain & Kuwait Citibank N.A. DBS Bank Limited Export Import Bank o…” AR DOC | ||||||||
| SBINState Bank of India | UNSTATED | 3,284 | 3,284–3,284 | 90.0% | — | 2026-10 | EST | 75% |
| “He served on the Board of the State Bank of India for five years and handled portfolios across corporate banking, international banking, treasury, technology, …” AR DOC | ||||||||
| AMBUJACEMAmbuja Cements Ltd. | UNSTATED | 3,284 | 3,284–3,284 | 90.0% | — | FY26 | EST | 70% |
| “Rating Agencies ACC DJSI (S&P CSA) 72* CDP–Climate Change A CDP–Water Security A CDP–Supplier Engagement Assessment A Sustainalytics 21.9 (12/124 Global Rank) …” AR · +1 DOC | ||||||||
| BELBharat Electronics Ltd. | UNSTATED | 3,284 | 3,284–3,284 | 90.0% | — | FY25 | EST | 60% |
| “~49,000 Total Customers 7% Repeat buyers in FY25 ₹10.75 Cr Total CSR Expenditure (Whole Group Including BEL) 41,355 Number of Beneficiaries Reached (through St…” AR DOC | ||||||||
| AARTIINDAarti Industries Ltd. | REV SHARE | 1,970 | 1,970–1,970 | 54.0% | — | 2026-10 | DISC | 90% |
| “Exports contributed about 54% to the total turnover of the entity c. A brief on types of customers: Aarti Industries Limited has a strong and steady presence a…” AR · +1 DOC | ||||||||
| Financial Year | REV SHARE | 681 | 681–681 | 18.7% | — | FY26 | DISC | 90% |
| “The subsidiary remained a significant contributor to the Company’s consolidated performance, accounting for 18.66% of consolidated revenue during the Financial…” AR · +2 DOC | ||||||||
| Business | REV SHARE | 46 | 46–46 | 1.4% | SG&A | FY25 | DISC | 90% |
| “100% of employees covered for life, health and accident insurance and parental care benefits 1.4% of revenue spent on wellbeing measures 57MAKING MARKETS FUNCT…” AR p.60 · 31-MAR-25 · +2 DOC | ||||||||
| Australia | UNSTATED | — | — | — | — | 2023-04 | EST | 75% |
| “Internationally, we serve various national railway operators and private clients across Bangladesh, Africa, Myanmar, Australia and Europe.” AR · +2 DOC | ||||||||
| China. | UNSTATED | — | — | — | — | 2023-04 | EST | 75% |
| “These supply-chain shifts, together with the broader ‘China+1’ sourcing strategy being adopted by global OEMs and Tier-1 suppliers, are increasingly positionin…” AR · +2 DOC | ||||||||
| United States | UNSTATED | — | — | — | — | FY25 | EST | 75% |
| “while 30% of the downgrades were in export-linked sectors bearing the brunt of United States (US) tariffs Reimagining private market strategies This point of v…” AR p.19 · 31-MAR-25 · +1 DOC | ||||||||
| Securities and Exchange Board of India | CONTRACT | CT 4 | — | — | — | FY25 | EST | 75% |
| “CertificatefromCompanySecretaryinPractice Certificate as required under Part C of Schedule V of Listing Regulations, received from CS Sunil M. Dedhia prop…” AR · +2 DOC | ||||||||
| Others | CONTRACT | CT 0 | — | — | — | FY24 | EST | 75% |
| “330Annual Report 2024-25 Oil Engines Notes to the Consolidated Financial StatementsH in Crores Particulars As at 31 March 2025 As at 31 March 2024 Secured From…” AR · +2 DOC | ||||||||
| Appellate Authority | UNSTATED | — | — | — | — | FY25 | EST | 75% |
| “The Company will file an appeal with the appellate authority before the due date of filing appeal which is March 30, 2026 Demand of Penalty under the provision…” AR p.166 · 31-MAR-25 DOC | ||||||||
| BANKINDIABank of India | UNSTATED | — | — | — | — | 2026-10 | EST | 75% |
| “Fax: +91 22 49186060 Bank / Financial Institution Axis Bank Limited Bank of Baroda Bank of Bahrain & Kuwait Citibank N.A. DBS Bank Limited Export Import Bank o…” AR · +1 DOC | ||||||||
| IDBIIDBI Bank Ltd. | UNSTATED | — | — | — | — | 2026-10 | EST | 75% |
| “Fax: +91 22 49186060 Bank / Financial Institution Axis Bank Limited Bank of Baroda Bank of Bahrain & Kuwait Citibank N.A. DBS Bank Limited Export Import Bank o…” AR DOC | ||||||||
| INDUSINDBKIndusInd Bank Ltd. | UNSTATED | — | — | — | — | 2026-10 | EST | 75% |
| “Fax: +91 22 49186060 Bank / Financial Institution Axis Bank Limited Bank of Baroda Bank of Bahrain & Kuwait Citibank N.A. DBS Bank Limited Export Import Bank o…” AR DOC | ||||||||
| Maharashtra | UNSTATED | — | — | — | — | 2026-10 | EST | 75% |
| “With the help of this acquisition, the Company established its Passenger Rail Segment and in consortium with Firema, received its first contract for supplying …” AR · +1 DOC | ||||||||
| Ministry of Defence | UNSTATED | — | — | — | — | 2026-10 | EST | 75% |
| “Prestigious order received from Ministry of Defence, Government of India, represented by the Indian Navy for the Design and Development of Medium Speed Marine …” AR DOC | ||||||||
| BBTCBombay Burmah Trading Corporation Ltd. | UNSTATED | — | — | — | — | 2026-10 | EST | 75% |
| “She is currently serving as an Independent Board member of Godrej Enterprises Group and has previously on the boards of Bombay Burmah Trading Corporation and B…” AR DOC | ||||||||
| Parties | UNSTATED | — | — | — | — | FY25 | EST | 75% |
| “PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES All related party transactions that were entered into during the Financial Year 2024-25 were on a…” AR · +1 DOC | ||||||||
| Indian Railways | UNSTATED | — | — | — | — | FY27 | EST | 75% |
| “The Company's joint venture, Ramkrishna Titagarh Rail Wheels Limited, is intended to progressively reduce this dependence by building a large- scale domestic f…” AR · +1 DOC | ||||||||
| BELRISEBelrise Industries Ltd. | UNSTATED | — | — | — | COGS | 2026-10 | EST | 75% |
| “The domestic auto components industry — which supplies the demand underpinning Belrise Industries’ product portfolio — grew at a 13% CAGR over fiscal 2020-26 t…” AR DOC | ||||||||
| Ministry of Road Transport and Highways | UNSTATED | — | — | — | COGS | FY26 | EST | 75% |
| “i n /n ews / b u s i n e s s / i n d i a s - a u to - component-sector-grows-127-in-fy26-but-imports- outpace-exports-acma20260707141416/ • VAHAN Dashboard, Mi…” AR DOC | ||||||||
| LTFL&T Finance Ltd. | UNSTATED | — | — | — | — | 2026-10 | EST | 75% |
| “He has previously served on the board of leading companies such L&T Finance and has held leadership positions as Chairman of BDO India and Baker Tilly India.” AR DOC | ||||||||
| BRIGADEBrigade Enterprises Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 75% |
| “[GRI 201-2, 302, 305] Green Building Portfolio INDICATOR** FY26 FY25 Total energy consumption from renewable sources (GJ) 2,41,374.65 89,476.78 Total energy co…” AR DOC | ||||||||
| United States | UNSTATED | — | — | — | CAPEX | FY26 | EST | 75% |
| “Further boost to exports is expected by the Free Trade Agreement with the European Union concluded in Q4 FY26, post three years of embargo, India and the Unite…” AR DOC | ||||||||
| BRIGADEBrigade Enterprises Ltd. | UNSTATED | — | — | — | COGS | 2026-10 | EST | 75% |
| “The ongoing West Asia conflict with the supply disruptions already experienced and which may be experienced with the volatile crude oil prices will have an imp…” AR DOC | ||||||||
| Dedicated Freight Corridor Corporation of India | UNSTATED | — | — | — | CAPEX | 2026-10 | EST | 75% |
| “The FRS segment achieved several strategic milestones during the year, including the supply of specialised BRNA flat wagons and hopper wagons to the Dedicated …” AR DOC | ||||||||
| Indian Railways | CONTRACT | CT 37 | — | — | CAPEX | 2026-10 | EST | 75% |
| “Your Company secured new orders for supply of 273 traction motors to Indian railways for an amount of INR 37 crores taking the total external order book of thi…” AR · +1 DOC | ||||||||
| Mumbai | UNSTATED | — | — | — | CAPEX | 2026-10 | EST | 75% |
| “The Company received a Letter of Acceptance from NCC Limited for the design, manufacture, supply, testing, commissioning, and maintenance of 108 metro coaches …” AR DOC | ||||||||
| FY27 | UNSTATED | — | — | — | — | FY27 | EST | 75% |
| “The Company's joint venture, Ramkrishna Titagarh Rail Wheels Limited, is intended to progressively reduce this dependence by building a large- scale domestic f…” AR DOC | ||||||||
| TITAGARHTitagarh Rail Systems Ltd. | UNSTATED | — | — | — | — | 2026-10 | EST | 75% |
| “During the year, one parcel of land situated at Bharatpur has been sold while the remaining portion of land at Bharatpur has been classified as Assets (Rs. in …” AR DOC | ||||||||
| RECLTDREC Ltd. | UNSTATED | — | — | — | — | FY25 | EST | 70% |
| “15ENVIRONMENT Avoided Emissions of RE Projects funded for FY25 (PCAF Method) 6.1million t CO (17.4%ᛏ)2 Total RE Capacity Sanctioned by REC 52 GW RE Projects su…” AR p.19 · 31-MAR-25 DOC | ||||||||
| Mumbai | UNSTATED | — | — | — | — | FY25 | EST | 70% |
| “Crisil ranked #36 in Chartis RiskTech100 2026 report, securing its 4th consecutive Model Validation category award AUSTRALIA Sydney JAPAN Tokyo SINGAPORE CHINA…” AR p.16 · 31-MAR-25 · +2 DOC | ||||||||
| Office | UNSTATED | — | — | — | CAPEX | FY25 | EST | 70% |
| “Type of asset Estimated Useful Life Buildings 20 years Furniture and fixtures 4 to 16 years Office equipment 3 to 10 years Computers 3 years Vehicles 3 years C…” AR p.227 · 31-MAR-25 · +1 DOC | ||||||||
| Joint Commissioner | CONTRACT | CT 113 | — | — | — | FY25 | EST | 70% |
| “288INTEGRATED ANNUAL REPORT 2025 Name of the statute Nature of dues Amount (₹ lakhs) Amount paid (₹ lakhs) Period to which the amount relates Forum where dispu…” AR p.291 · 31-MAR-25 DOC | ||||||||
| Business | UNSTATED | — | — | — | CAPEX | FY24 | EST | 70% |
| “Deferred tax asset on: Provision for compensated absences 2,243 336 - - (1) 2,578 Provision for bonus and commission 3,272 (948) - - 8 2,332 Provision for grat…” AR p.195 · 31-MAR-24 DOC | ||||||||
| China. | UNSTATED | — | — | — | COGS | 2026-10 | EST | 70% |
| “Global leader in Benzene and Toluene- based derivatives Low-cost, sustainable manufacturing base in India Fully backward- integrated value chains Preferred par…” AR DOC | ||||||||
| Business | UNSTATED | — | — | — | R&D | 2026-10 | EST | 70% |
| “2 State-of-the-art R&D centres 200+ Engineers 0 Incident of information security breach 2 Pilot Plants 85% ISO 27001 Certified sites 20 Planned products introd…” AR DOC | ||||||||
| Financial Year | UNSTATED | — | — | — | SG&A | FY25 | EST | 70% |
| “Number of consumer complaints in respect of the following: Details FY 2025-26 (Current Financial Year) FY 2024-25 (Previous Financial Year) Received during the…” AR · +1 DOC | ||||||||
| Office | UNSTATED | — | — | — | — | 2026-10 | EST | 70% |
| “The instrument of proxy, in order to be effective, should be deposited at the Registered Office of the Company duly completed and signed, not later than 48 hou…” AR · +2 DOC | ||||||||
| Commissioning | UNSTATED | — | — | — | CAPEX | 2026-10 | EST | 70% |
| “Commissioning Support During the commissioning of CPCBII and joint commissioning for CPCBIV+ generator sets, customers are guided through detailed “Dos and Don…” AR DOC | ||||||||
| Authority. | UNSTATED | — | — | — | — | 2026-10 | EST | 70% |
| “The Company has preferred an Appeal bearing No. 125 of 2016 before the Chief Controlling Revenue Authority (CCRA) against the Stamp Duty Adjudication Order dat…” AR DOC | ||||||||
| BELRISEBelrise Industries Ltd. | UNSTATED | — | — | — | — | 2026-10 | EST | 70% |
| “Belrise Industries has established structured mechanisms to receive and address customer complaints and feedback in a timely and effective manner.” AR DOC | ||||||||
| Karnataka | UNSTATED | — | — | — | — | 2026-10 | EST | 70% |
| “V) Scheme of Amalgamation for merger of Tandem Allied Services Private Limited During the previous year ,Scheme of Amalgamation for merger of Tandem Allied Ser…” AR · +1 DOC | ||||||||
| TENNINDTenneco Clean Air India Ltd. | UNSTATED | — | — | — | COGS | 2026-10 | EST | 70% |
| “The firm has capabilities across statutory audit internal audit and tax audit and has worked with several marquee Indian and multinational clients across statu…” AR DOC | ||||||||
| Renewable Energy | UNSTATED | — | — | — | — | 2026-10 | EST | 70% |
| “Page 64 Page 70 B with Intent Shaping Value 06 Integrated Report 2025-26Brigade Enterprises Limited ~49,000 Customers 4.65 out of 5 Customer satisfaction score…” AR DOC | ||||||||
| BRIGADEBrigade Enterprises Ltd. | UNSTATED | — | — | — | SG&A | 2026-10 | EST | 70% |
| “Business Segments: Development facilitates operations • Functional teams: facilities engineering, contract, finance and HR ESG Reporting Team • Representatives…” AR DOC | ||||||||
| KFINTECHKfin Technologies Ltd. | UNSTATED | — | — | — | — | 2026-10 | EST | 70% |
| “259 Corporate Overview Statutory Overview Financial Overview 14 Registrars and Share Transfer Agents: For Share related matters, members are requested to corre…” AR DOC | ||||||||
| Others | UNSTATED | — | — | — | SG&A | FY26 | EST | 70% |
| “TOTAL: 159254 100.00 2445934640.00 100.00 17 Categories of Shareholders as on March 31, 2026: Category No. of Shares % to Total Shares Promoter/ Promoter Group…” AR DOC | ||||||||
| Others | UNSTATED | — | — | — | CAPEX | 2026-10 | EST | 70% |
| “166 | | 167TITAGARH RAIL SYSTEMS LIMITED Annual Report | 2025-2026 Corporate Overview Statutory Reports Financial StatementsStandalone 23 Other Financial Liabi…” AR · +1 DOC | ||||||||
| SCIShipping Corporation of India Ltd. | UNSTATED | — | — | — | SG&A | 2026-10 | EST | 70% |
| “Our customers primarily include government entities such as Indian Railways, Metro Corporations, Defence, National Institute of Ocean Technology and Shipping C…” AR DOC | ||||||||
| Maharashtra | CONTRACT | CT 430 | — | — | COGS | 2026-10 | EST | 70% |
| “The Company secured an extension order worth ₹430 crore from Maharashtra Metro Rail Corporation for the supply of 12 additional Pune Metro trainsets, further s…” AR DOC | ||||||||
| Authority. | UNSTATED | — | — | — | CAPEX | 2026-10 | EST | 70% |
| “The Company received a Letter of Acceptance (LOA) from Mumbai Metropolitan Region Development Authority (MMRDA) for the design, manufacture, supply, installati…” AR DOC | ||||||||
| FY27 | UNSTATED | — | — | — | CAPEX | FY27 | EST | 70% |
| “Wagon dispatches for the full year stood at 7,019 units, and the segment continued to account for the majority of the Company's near-term deliverable pipeline,…” AR DOC | ||||||||
| Parties | UNSTATED | — | — | — | CAPEX | 2026-10 | EST | 70% |
| “166 | | 167TITAGARH RAIL SYSTEMS LIMITED Annual Report | 2025-2026 Corporate Overview Statutory Reports Financial StatementsStandalone 23 Other Financial Liabi…” AR DOC | ||||||||
| Others | UNSTATED | — | — | — | COGS | 2026-10 | EST | 70% |
| “) 26 Revenue from Operations Particulars For the year ended March 31, 2026 For the year ended March 31, 2025 Rs. in Crores Rs. in Crores Revenue from Contract …” AR DOC | ||||||||
| TITAGARHTitagarh Rail Systems Ltd. | UNSTATED | — | — | — | COGS | 2026-10 | EST | 70% |
| “The detail of such expenses are as follow: Design and development expenses 21.52 48.64 Consumption of stores and spares 0.15 - Job Processing and other machini…” AR DOC | ||||||||
| TITAGARHTitagarh Rail Systems Ltd. | UNSTATED | — | — | — | CAPEX | 2026-10 | EST | 70% |
| “Adjustment for: Liquidated Damages (25.73) (13.37) Escalation 129.40 211.38 Revenue from operation 3,185.82 3,867.75 Particulars For the year ended March 31, 2…” AR DOC | ||||||||
| ABBABB India Ltd. | UNSTATED | — | — | — | CAPEX | FY25 | EST | 65% |
| “– Share from JV CRISIL AA-/Stable - Long Term CRISIL A+/Stable - Short Term Pioneering Solar-Powered & Hydraulic Ballast Discharge Solutions to Gujarat Metro (…” AR DOC | ||||||||
| NCCNCC Ltd. | UNSTATED | — | — | — | CAPEX | 2026-10 | EST | 65% |
| “The Company received a Letter of Acceptance from NCC Limited for the design, manufacture, supply, testing, commissioning, and maintenance of 108 metro coaches …” AR DOC | ||||||||
| CDSLCentral Depository Services (India) Ltd. | UNSTATED | — | — | — | — | FY25 | EST | 60% |
| “Your user ID is: a) For members who hold shares in demat account with NSDL 8-character DP ID followed by 8-digit client ID For e.g., if your DP ID is IN300*** …” AR p.360 · 31-MAR-25 · +2 DOC | ||||||||
| LICILife Insurance Corporation of India | UNSTATED | — | — | — | SG&A | FY25 | EST | 60% |
| “16.3 Details of shareholders holding more than 5% shares: Name of the Shareholders As at 31st March, 2025 As at 31st March, 2024 No. of Shares % held No. of Sh…” AR DOC | ||||||||
| AARTIINDAarti Industries Ltd. | UNSTATED | — | — | — | SG&A | FY25 | EST | 60% |
| “16.3 Details of shareholders holding more than 5% shares: Name of the Shareholders As at 31st March, 2025 As at 31st March, 2024 No. of Shares % held No. of Sh…” AR DOC | ||||||||
| BELBharat Electronics Ltd. | UNSTATED | — | — | — | COGS | 2026-10 | EST | 60% |
| “BEL controls raw material costs by setting fixed base prices at the time of contract award, with all subsequent price variations tracked and reconciled during …” AR DOC | ||||||||
| ABBABB India Ltd. | UNSTATED | — | — | — | COGS | 2026-10 | EST | 60% |
| “As on March 31, 2026, PRS represented approximately 77% of the Company's standalone order book, underlining its significant role in the Company's future revenu…” AR DOC | ||||||||
| Dedicated Freight Corridor Corporation of India | UNSTATED | — | — | — | — | 2026-10 | EST | 60% |
| “Customer Concentration Risk A significant proportion of the Company's revenue is derived from Indian Railways, metro rail corporations, DFCCIL and other govern…” AR DOC | ||||||||
| SUPPLIER | BASIS | EST ₹CR | RANGE | % COST | BUCKET | PERIOD | METHOD | CONF |
|---|---|---|---|---|---|---|---|---|
| ICICIBANKICICI Bank Ltd. | UNSTATED | 924 | 924–924 | 36.0% | — | FY26 | EST | 75% |
| “The following table sets forth, for the period indicated, rating-wise distribution of the loans sold/acquired under assignment: ` in million Rating Year ended …” AR p.303 · 31-MAR-26 · +1 DOC | ||||||||
| Business | BUY SHARE | 733 | 733–733 | 31.2% | — | FY25 | DERIV | 90% |
| “This framework aims to: Improve third-party risk management Enhance compliance with regulatory requirements Monitor vendor performance more effectively 3…” AR p.68 · 31-MAR-25 · +2 DOC | ||||||||
| TMCVTata Motors Ltd. | UNSTATED | 397 | 397–397 | 15.5% | — | 2026-10 | EST | 70% |
| “Sambhaji Nagar Facility III Plot No. B/5 & B/6, MIDC Waluj, Aurangabad 431133, Maharashtra 4 Pune Facility I Plot No. A-23/1, Chakan Industrial Area, Phase-II,…” AR DOC | ||||||||
| VEDLVedanta Ltd. | UNSTATED | 363 | 298–363 | 14.2% | — | 2026-01 | EST | 60% |
| “Following the demerger order, both CRISIL and ICRA have reaffirmed Vedanta's rating as “AA” with watch developing implications.” CONCALL DOC | ||||||||
| BANKINDIABank of India | BUY SHARE | 339 | 339–339 | 15.0% | — | FY24 | DERIV | 90% |
| “13 lakh+ beneficiaries of CSR Mein Pragati programme 15 sustainability themed offerings and climate solutions Insights and thought leadership through 7+ sustai…” AR p.110 · 31-MAR-24 DOC | ||||||||
| KOTAKBANKKotak Mahindra Bank Ltd. | UNSTATED | 330 | 330–330 | 12.9% | — | FY25 | EST | 70% |
| “Car and Two-Wheeler Loans (Kotak Mahindra Prime Limited) 20% Growth in Customer Assets Maintained highest Credit Rating of AAA/Stable by CRISIL and ICRA Provid…” AR p.19 · 31-MAR-25 DOC | ||||||||
| TVSMOTORTVS Motor Company Ltd. | UNSTATED | 266 | 146–266 | 10.4% | — | FY25 | EST | 70% |
| “AA+ (Stable) Rated by CRISIL, ICRA, CARE 15% Increase in AUM in FY 2025-26 (y-o-y) ₹631 crore AUM reached in the three-wheeler segment in FY 2025-26 ~2.44 cror…” AR DOC | ||||||||
| MUTHOOTFINMuthoot Finance Ltd. | UNSTATED | 148 | 148–148 | 5.8% | — | FY26 | EST | 70% |
| “This single product has anchored the franchise since 1939 and makes up 95% of the overall loan book Other services • Personal Loans • Business Loans • Small Bu…” AR p.108 · 31-MAR-26 DOC | ||||||||
| ADANIENTAdani Enterprises Ltd. | UNSTATED | 109 | 89–109 | 4.3% | — | FY26 | EST | 70% |
| “(Source: Crisil Intelligence) Business Performance Adani Defence & Aerospace has established robust infrastructure, secured marquee contracts and expanded capa…” AR DOC | ||||||||
| DLFDLF Ltd. | UNSTATED | 27 | 5–39 | 1.0% | — | FY25 | EST | 75% |
| “Further, two leading credit rating agencies CRISIL (Subsidiary of S&P) and ICRA (Subsidiary of Moodys) have awarded DCCDL with credit rating of AAA with a Stab…” AR DOC | ||||||||
| PATANJALIPatanjali Foods Ltd. | REV SHARE | — | — | — | — | FY24 | DISC | 90% |
| “According to CRISIL, the sector is expected to grow by 7–9% in revenue in FY 2024-25, reaching approximately H 11 lakh crore.” AR DOC | ||||||||
| INDUSTOWERIndus Towers Ltd. | UNSTATED | — | — | — | CAPEX | FY25 | EST | 75% |
| “Scrip Code: y BSE: 534816 y NSE: INDUSTOWERIntegrated ReportIndus Towers Limited Integrated Report & Financial Statements 2024-25 1 Financial Prudence Operatio…” AR DOC | ||||||||
| LUPINLupin Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 75% |
| “CRISIL Intelligence awarded the Highest VO 1A Rating for Excellence in Social Responsibility to LHWRF.” AR DOC | ||||||||
| OILOil India Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 75% |
| “The Company’s financial prudence is reflected in the strong credit rating ascribed by ratings agencies as below:” Category Rating Agency Rating Remark Long ter…” AR DOC | ||||||||
| YESBANKYes Bank Ltd. | UNSTATED | — | — | — | — | FY25 | EST | 75% |
| “(vi) Details of loans not in default acquired, loans transferred/acquired through assignment/novation during the year ended March 31, 2025 are given below: Par…” AR p.397 · 31-MAR-25 DOC | ||||||||
| ALKEMAlkem Laboratories Ltd. | UNSTATED | — | — | — | — | FY25 | EST | 75% |
| “He is also serving as an Independent Director on the Boards of CRISIL Ratings Ltd, CRISIL ESG Ratings & Analytics Ltd., Mahindra Holidays & Resorts India Ltd. …” AR DOC | ||||||||
| MPHASISMphasiS Ltd. | UNSTATED | — | — | — | SG&A | FY25 | EST | 75% |
| “He also serves as an Independent Director on the Board of Axis Bank Limited, CRISIL Limited, Axis Max Life Insurance Company Limited, Modenik Lifestyle Private…” AR DOC | ||||||||
| KEIKEI Industries Ltd. | UNSTATED | — | — | — | — | FY25 | EST | 75% |
| “The exports were further up 8% YoY from April 2024 to October 2024 (Source: CRISIL MI&A) Renewable Energy Sector Demand • India is working towards achieving 50…” AR DOC | ||||||||
| Financial Year | UNSTATED | — | — | — | COGS | FY25 | EST | 75% |
| “Percentage of input material (inputs to total inputs by value) sourced from suppliers: FY 2025-26 Current Financial Year FY 2024-25 Previous Financial Year Dir…” AR · +1 DOC | ||||||||
| Business | UNSTATED | — | — | — | COGS | FY25 | EST | 75% |
| “Percentage of input material (inputs to total inputs by value) sourced from suppliers: Percentage of input material (inputs to total inputs by value) sourced f…” AR DOC | ||||||||
| Indian Railways | UNSTATED | — | — | — | CAPEX | FY25 | EST | 75% |
| “– Share from JV CRISIL AA-/Stable - Long Term CRISIL A+/Stable - Short Term Pioneering Solar-Powered & Hydraulic Ballast Discharge Solutions to Gujarat Metro (…” AR DOC | ||||||||
| TITAGARHTitagarh Rail Systems Ltd. | UNSTATED | — | — | — | CAPEX | FY25 | EST | 75% |
| “– Share from JV CRISIL AA-/Stable - Long Term CRISIL A+/Stable - Short Term Pioneering Solar-Powered & Hydraulic Ballast Discharge Solutions to Gujarat Metro (…” AR DOC | ||||||||
| China. | UNSTATED | — | — | — | CAPEX | 2026-10 | EST | 75% |
| “i) In case of Imported Technology (imported during the last three years reckoned from the beginning of the Financial Year): N/A a) The details of the technolog…” AR DOC | ||||||||
| Parties | UNSTATED | — | — | — | — | 2026-10 | EST | 75% |
| “Note: Design and Development Expenses, CSR Expenditure, and Reimbursement of Expenses Received have been classified as procurement of third-party services and …” AR DOC | ||||||||
| ACMESOLARACME Solar Holdings Ltd. | UNSTATED | — | — | — | CAPEX | FY25 | EST | 75% |
| “Powering a Greener Future: ACME Solar’s 1,200 MW ISTS Project Our Mega Project ACME Solar Holdings Limited14 Project SPVs ACME Raisar Operational Capacity 300 …” AR · +2 DOC | ||||||||
| URBANCOUrban Company Ltd. | UNSTATED | — | — | — | — | FY25 | EST | 75% |
| “It is primarily supplied to the Ready Mix Concrete (RMC) sector and according to CRISIL, the demand for GGBS is expected to be driven by it being one of the mo…” AR · +2 DOC | ||||||||
| SARDAENSarda Energy and Minerals Ltd. | UNSTATED | — | — | — | — | FY25 | EST | 75% |
| “The Company is recognized as a Three Star Export House and holds a long term rating of A(Stable) and short-term rating of A1 from CRISIL.” AR DOC | ||||||||
| GPILGodawari Power & Ispat Ltd. | UNSTATED | — | — | — | — | FY25 | EST | 75% |
| “We retained CRISIL AA-/Stable and A1+ ratings, and were awarded an ESG Rating of CARE ESG 3 (Score 51), reaffirming our commitment to balanced and transparent …” AR DOC | ||||||||
| BSOFTBirlasoft Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 75% |
| “while S&P Global placed us in the 97th percentile for ESG practices, and CRISIL awarded an ESG score of 64.” AR p.6 · 31-MAR-26 DOC | ||||||||
| ERISEris Lifesciences Ltd. | UNSTATED | — | — | — | R&D | FY26 | EST | 75% |
| “Digitalisation and the use of artificial intelligence (AI) and machine learning (ML) are anticipated to revolutionise drug discovery, clinical development, man…” AR p.63 · 31-MAR-26 DOC | ||||||||
| AVANTIFEEDAvanti Feeds Ltd. | UNSTATED | — | — | — | — | FY24 | EST | 70% |
| “In FY 2024–25, despite tariff disruptions in the US and subdued global demand (shrimp consumption remained flat at ~4 million MT – Crisil, 2025), AFFPL stayed …” AR p.24 · 31-MAR-25 DOC | ||||||||
| BHARTIARTLBharti Airtel Ltd. | UNSTATED | — | — | — | SG&A | FY25 | EST | 70% |
| “Customer Obsessed Integrated Report and Annual Financial Statements 2025-26 Bharti Airtel Limited Connectivity & Beyond Annexure-A Highlights of FY 2025-26 Fin…” AR DOC | ||||||||
| BHELBharat Heavy Electricals Ltd. | UNSTATED | — | — | — | — | FY25 | EST | 70% |
| “The credit ratings of your Company are as follows: Rating Agency Date of Rating Long Term Rating Outlook Short Term Rating CRISIL 03-07-2026 CRISIL AA Stable C…” AR DOC | ||||||||
| TATAPOWERTata Power Co. Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “The Company sustained its position as the No. 1 rooftop solar player in India for the eleventh consecutive year (according to CRISIL, erstwhile Bridge to India…” AR DOC | ||||||||
| ABCAPITALAditya Birla Capital Ltd. | UNSTATED | — | — | — | SG&A | FY26 | EST | 70% |
| “Connect with us: LINKEDIN / Twitter, https://www.linkedin.com/company/crisil/, https://x.com/CrisilLimited About Crisil Intelligence (formerly Market Intellige…” AR DOC | ||||||||
| INDUSTOWERIndus Towers Ltd. | UNSTATED | — | — | — | SG&A | FY25 | EST | 70% |
| “Customer Obsessed Integrated Report and Annual Financial Statements 2025-26 Bharti Airtel Limited Connectivity & Beyond Annexure-A Highlights of FY 2025-26 Fin…” AR DOC | ||||||||
| INDUSINDBKIndusInd Bank Ltd. | UNSTATED | — | — | — | — | FY25 | EST | 70% |
| “41 million+ customers served across segments 6,108 banking touchpoints pan-India (3,081 outlets + 3,027 ATMs) 93 % + digital transaction mix 16.24 % CRAR stron…” AR p.27 · 31-MAR-25 DOC | ||||||||
| RBLBANKRBL Bank Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “RBL Bank received an ESG score of 64 from CRISIL ESG Ratings & Analytics, and we progressed our work on NIIT to equip aspiring banking professionals with the s…” AR p.44 · 31-MAR-26 DOC | ||||||||
| MOTILALOFSMotilal Oswal Financial Services Ltd. | UNSTATED | — | — | — | — | FY25 | EST | 70% |
| “Our Customers During the year under review, MOFSL’s credit rating outlook upgraded to AA/Positive from AA/Stable by CRISIL, ICRA and India Ratings.” AR DOC | ||||||||
| HDBFSHDB Financial Services Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “Key Supporting Strengths Certified Upper Layer NBFC CARE & CRISIL AAA/STABLE (for Long-term Debt and Bank Facilities) CARE & CRISIL A1+ (for Commercial Papers)…” AR p.13 · 31-MAR-26 DOC | ||||||||
| AIILAuthum Investment & Infrastructure Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “(Source: CRISIL, Swiss Re, ICICI Bank) Digitization and Technological Advancements Digitization has profoundly transformed the NBFC sector, enhancing efficienc…” AR p.172 · 31-MAR-26 · +1 DOC | ||||||||
| POONAWALLAPoonawalla Fincorp Ltd. | UNSTATED | — | — | — | — | FY24 | EST | 70% |
| “Key Indicator Gross NPA (GNPA) Net NPA (NNPA) Provision Coverage Ratio Capital Adequacy Ratio Credit Ratings FY 2024-25 Performance GNPA was at 1.84% NNPA was …” AR p.37 · 31-MAR-25 DOC | ||||||||
| HFCLHFCL Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “Achievement: HFCL has been awarded bronze medal CRISIL ESG (September 2025) 55 (Adequate) S&P Global CSA (January 2026)” AR DOC | ||||||||
| BALKRISINDBalkrishna Industries Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “CDP Ratings: Climate Change (B), Water Security (B–) CRISIL Credit Rating of AA+/Stable 68 Annual Report 2025-26 Achieved a five-star rating in the British Saf…” AR DOC | ||||||||
| JKCEMENTJ.K. Cement Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “Outlook: Stable) C. CRISIL RATINGS 1 Commercial Papers (Standalone) CRISIL A1+ (A One Plus) OTHER DISCLOSURES Related Party Transactions During the financial y…” AR DOC | ||||||||
| Office | UNSTATED | — | — | — | — | FY25 | EST | 70% |
| “Our evaluation process involves regular self-assessments by suppliers, which cover critical aspects such as: Environmental responsibilities Maintenance of …” AR p.67 · 31-MAR-25 · +2 DOC | ||||||||
| Others | UNSTATED | — | — | — | — | FY24 | EST | 70% |
| “Trade payables (Current) (C lakh) Particulars As at December 31, 2024 As at December 31, 2023 Total outstanding dues of micro enterprises and small enterprises…” AR p.203 · 31-MAR-24 · +2 DOC | ||||||||
| AARTIINDAarti Industries Ltd. | UNSTATED | — | — | — | — | 2026-10 | EST | 70% |
| “Supplier Recognition Aarti Industries Limited acknowledges high-performing BPs annually based on their commitment and performance across various metrics, inclu…” AR DOC | ||||||||
| China. | UNSTATED | — | — | — | — | 2026-10 | EST | 70% |
| “As a result, suppliers are seeking alternative markets within the region and beyond China.” AR DOC | ||||||||
| BELRISEBelrise Industries Ltd. | UNSTATED | — | — | — | — | FY25 | EST | 70% |
| “Source: CRISIL Report 36 Belrise Industries Limited Our Progress We have begun manufacturing and supplying our patented Suspension Systems and High-Precision S…” AR · +1 DOC | ||||||||
| Maharashtra | UNSTATED | — | — | — | — | 2026-10 | EST | 70% |
| “Sambhaji Nagar Facility III Plot No. B/5 & B/6, MIDC Waluj, Aurangabad 431133, Maharashtra 4 Pune Facility I Plot No. A-23/1, Chakan Industrial Area, Phase-II,…” AR DOC | ||||||||
| Mumbai | UNSTATED | — | — | — | — | 2026-10 | EST | 70% |
| “Chakan Industrial Area Ph-II, Bhamboli, Taluka Khed, Pune - 410501 D, 30/6, MIDC Industrial Area, Tq.Turbhe, Dist.Navi Mumbai, 400613 B-7 Phase -1 Adityapur In…” AR DOC | ||||||||
| Renewable Energy | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “Reached Through Trainings: 65% (By Value) Natural Capital • Energy Consumption: 8,18,603.73 GJ • Renewable Energy Consumption: 2,41,374.65 GJ • Water Consumpti…” AR DOC | ||||||||
| BRIGADEBrigade Enterprises Ltd. | UNSTATED | — | — | — | COGS | FY25 | EST | 70% |
| “99.6% Domestic Suppliers 55% Partners for <5 Years 99% Domestic Spending 44% Partners for 5–15 Years [GRI 204-1, 204-1, 204-1, 204-1, 413, 414, 2.6b.ii] Suppli…” AR DOC | ||||||||
| BRIGADEBrigade Enterprises Ltd. | UNSTATED | — | — | — | — | 2026-10 | EST | 70% |
| “Brigade Xanadu, Chennai (Actual picture) 122 Brigade Enterprises Limited Integrated Report 2025-26 Our Policy Framework People and Workplace • Human Rights Pol…” AR DOC | ||||||||
| Others | UNSTATED | — | — | — | SG&A | 2026-10 | EST | 70% |
| “Non- Government organization (NGOs) Yes Other ESG Steer co Meetings ESG Working Committee Meetings Monthly ESG Bulletin ESG Training and Awareness Workshops Fe…” AR DOC | ||||||||
| IIFLIIFL Finance Ltd. | UNSTATED | — | — | — | — | FY25 | EST | 70% |
| “Credit Ratings: CRISIL AA/Stable Long-term rating CRISIL A1+ Short-term rating PAT (Pre-NCI) ` 578.1 Crores Basic EPS ` 9.07 ROE 3.4% ROA 0.9% Customers served…” AR p.67 · 31-MAR-25 DOC | ||||||||
| MTARTECHMTAR Technologies Ltd. | UNSTATED | — | — | — | — | FY23 | EST | 70% |
| “Source: NPCIL, World Nuclear Association, CRISIL Research An estimated Rs. 10 Bn worth of orders is expected from Kaiga 5 & 6 and the refurbishment of five exi…” AR DOC | ||||||||
| AETHERAether Industries Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “Also, the Company was awarded ‘CRISIL ESG 51’ rating by CRISIL ESG Ratings & Analytics Limited and rated ‘61’ points out of ‘100’ by NSE Sustainability Ratings…” AR DOC | ||||||||
| CREDITACCCreditAccess Grameen Ltd. | UNSTATED | — | — | — | — | FY25 | EST | 70% |
| “Contents Corporate Overview 87 Board’s Report 105 Business Responsibility and Sustainability Report 131 Management Discussion and Analysis 141 Report on Corpor…” AR p.3 · 31-MAR-25 DOC | ||||||||
| AADHARHFCAadhar Housing Finance Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “Source: HOFINET, European Mortgage Federation, NHB, Crisil IntelligenceAadhar Housing Finance Limited Annual Report 2025-26 52 3.3.2 Threats • Economic downtur…” AR DOC | ||||||||
| BALRAMCHINBalrampur Chini Mills Ltd. | UNSTATED | — | — | — | — | FY25 | EST | 70% |
| “The Company’s credibility is reflected in its highest rating awarded to any Indian sugar company: AA+ (Stable) credit rating by CRISIL and India Ratings.” AR DOC | ||||||||
| PARADEEPParadeep Phosphates Ltd. | UNSTATED | — | — | — | COGS | FY26 | EST | 70% |
| “In order to ensure a stable supply of most important raw material by value, the Company has entered into a long term Phosphate Rock supply contract with OCP, g…” AR · +1 DOC | ||||||||
| SOBHASobha Ltd. | UNSTATED | — | — | — | — | FY25 | EST | 70% |
| “Branded Homes Premium Branded residential developers command 10–15% price premium (Knight Frank, 2024) Organised Housing Growth Projected to grow at a 9.2% CAG…” AR DOC | ||||||||
| EIDPARRYE.I.D. Parry (India) Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “FSSC 22000, ISO 9001, ISO 14001 and ISO 45001 certified Crisil AA- (Stable) Crisil A1+ 2,165 1,50,000+ 76% Plants across South India Long Term Rating Short Ter…” AR DOC | ||||||||
| APTUSAptus Value Housing Finance India Ltd. | UNSTATED | — | — | — | — | FY25 | EST | 70% |
| “Despite potential yield compression due to floating rate loan contracts, CRISIL notes that the impact on net interest margins could be partly offset by borrowe…” AR p.50 · 31-MAR-25 DOC | ||||||||
| TITAGARHTitagarh Rail Systems Ltd. | UNSTATED | — | — | — | — | FY25 | EST | 70% |
| “– Share from JV CRISIL AA-/Stable - Long Term CRISIL A+/Stable - Short Term (€7.18 Mn, 33 train sets) Revenue in FY 2025 Order Book Position Rating by CRISIL F…” AR DOC | ||||||||
| IRFCIndian Railway Finance Corporation Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “Independent Evaluators’ Assessment 6.1 Credit Ratings 6.1.1 Domestic: During the financial year 2025-26, the Company’s long-term domestic borrowing programme w…” AR p.51 · 31-MAR-26 · +1 DOC | ||||||||
| INFYInfosys Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “• Best-in-class employee experience and learning • Safe and inclusive workplaces Natural and Manufactured Capital 7th year Carbon neutral 71.22% Reduction in S…” AR DOC | ||||||||
| MANAPPURAMManappuram Finance Ltd. | UNSTATED | — | — | — | — | FY25 | EST | 70% |
| “Entity Rating Agency Rating Manappuram Finance (Long-Term) CRISIL AA / Stable Manappuram Finance (Short-Term) CRISIL A1+ Asirvad Microfinance CRISIL AA- / Stab…” AR p.37 · 31-MAR-25 DOC | ||||||||
| NESTLEINDNestle India Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “Credit Rating Your Company has been awarded AAA credit rating for its bank credit facilities by CRISIL.” AR DOC | ||||||||
| SUZLONSuzlon Energy Ltd. | UNSTATED | — | — | — | — | FY25 | EST | 70% |
| “With focused and strategic execution, disciplined financials, and the steadfast support of our stakeholders, we secured India’s largest C&I wind energy order a…” AR DOC | ||||||||
| SCHNEIDERSchneider Electric Infrastructure Ltd. | UNSTATED | — | — | — | — | 2026-08 | EST | 65% |
| “And the last tile before I hand over my financial performance to my friend, colleague, Omkar, is the CRISIL rating, where we have been awarded as a strong rate…” CONCALL p.6 · 31-AUG-26 DOC | ||||||||
| KARURVYSYAKarur Vysya Bank Ltd. | UNSTATED | — | — | — | — | 2026-05 | EST | 65% |
| “It is awarded by CRISIL, demonstrating continuous enhancement in nonfinancial performance.” CONCALL p.9 · 31-MAY-26 DOC | ||||||||
| SOURCE | READ | % | LAST READ |
|---|---|---|---|
| ANNOUNCEMENTS | 1/1 | 100% | 07-NOV-26 |
| ANNUAL | 9/9 | 100% | 15-OCT-26 |
| CONCALL | 3/3 | 100% | 15-OCT-26 |
| ORDERS | 1/1 | 100% | 07-NOV-26 |
| SCREENER | 1/1 | 100% | 15-OCT-26 |
| SIGNAL | VALUE | AS OF | INPUTS |
|---|---|---|---|
| CUSTOMER HHI | 0.206 | 14-NOV-26 | Ambuja Cements Ltd. share 22% · Aarti Industries Ltd. share 13% · HDFC Bank Ltd. share 22% · Bharat Electronics Ltd. share 22% · State Bank of India share 22% |
| CUST MOM 1M | +7.5% | 14-NOV-26 | from 15-OCT-26 · Ambuja Cements Ltd. +8.7% w 0 · Central Depository Services (India) Ltd. +11.9% w 0 · Aarti Industries Ltd. -4.6% w 0 · Bank of India +18.2% w 0 · HDFC Bank Ltd. +10.6% w 0 · IDBI Bank Ltd. -4.1% w 0 |
| SUPP MOM 1M | +10.2% | 14-NOV-26 | from 15-OCT-26 · Oil India Ltd. -0.9% w 0 · Motilal Oswal Financial Services Ltd. +14.8% w 0 · Alkem Laboratories Ltd. -0.1% w 0 · Yes Bank Ltd. -3.9% w 0 · RBL Bank Ltd. +3.1% w 0 · IndusInd Bank Ltd. +3.3% w 0 |