Bought CRISIL at Rs.6000
Debt free business
Low capital requirements
High entry barrier - only two big players in this space CRISIL and ICRA. CRISIL is a better brand, higher credibility
Their KPO business is very interesting - Irevna, Pipal Research. I see a lot of potential for outsourced analytics and research. A company like CRISIL has the processes in place to do this well.
More rating revenue will come to them due to Basel norms. Rating revenue is a function of growth i corporate loans.
Can I get a 15% return per annum on this, with zero risk. I think I should at this price.
