Crisil - U.S. Bounce Back Could Drive 2021 Top-Line Growth: Centrum Broking
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Centrum Broking Report
Crisil Ltd.’s Q1 CY21 results were strong mainly led by higher Ebitda margins and healthy adjusted profit after tax growth of 19%.
Greenwich posted a lower loss year-on-year. Top-line was a miss led by research though ratings performed better and grew by 11.8% YoY.
However, opex saw a positive surprise which supported Ebitda.
Hence Ebitda margin at 25.7% was a beat and adjusted profit after tax saw a healthy 19% YoY growth to Rs 961 million.
With the Greenwich acquisition, North America contributes 41.3% to total revenues and with the U.S. economy slated for a strong bounce back in CY21 as indicated by economic indicators, the company could be a major beneficiary.
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