The name Amish Mehta, CEO and MD of CRISIL, one of India’s leading credit rating agencies, is now synonymous with resilience and leadership. Taking charge of the company in 2021 during a challenging phase, Mehta has guided CRISIL to new heights, turning its fortunes around.
A Remarkable Turnaround
When Mehta assumed leadership, CRISIL faced multiple hurdles. Yet, under his stewardship, the agency’s revenue grew from ₹1,982 crore in FY2020 to ₹3,260 crore by December 2024, while profits increased from ₹355 crore to ₹684 crore. The company’s market capitalization soared from ₹13,949 crore in December 2021 to ₹33,664 crore, reflecting a striking transformation.
Humble Roots, Early Struggles
Mehta’s story is far removed from corporate privilege. He grew up in the cramped lanes of Matunga, Mumbai, in a modest 275 sq. ft. chawl. Life’s hardships instilled in him discipline and determination. Although his family ran a small auto parts business, Mehta chose a different path, inspired by South Indian friends pursuing advanced studies in accounting.
After schooling at Don Bosco School and commerce studies at R.A. Podar College, he faced a choice: continue his father’s business or chart his own course. Guided by a teacher’s advice, he pursued Chartered Accountancy, working initially with SR Batliboi and Citibank.
Rising, Falling, and Rising Again
At 29, Mehta became CEO of an ExxonMobil venture, but the role ended abruptly when a competitor acquired the business, leaving him at a career crossroads. Reflecting on this phase, he shared, “I tell people to face failure at a young age so that success does not make you arrogant. After Exxon, I had to rebuild my career, which taught me not to be disheartened by life’s ups and downs.”
Turning Challenges into Opportunities
The ratings business continues to grow at around 15% annually, and Mehta is betting heavily on technology and intellectual capital for the future. Since taking over, CRISIL has navigated COVID-19, the Russia-Ukraine conflict, U.S. tariffs, and geopolitical uncertainties. While many approached these challenges cautiously, Mehta saw them as opportunities. He remarks, “I tell people every challenge is an opportunity. During COVID, we helped businesses understand their risks better. Similarly, tariffs and geopolitical changes now present new avenues for growth.”
From the narrow lanes of Matunga to leading a ₹33,000 crore company, Amish Mehta’s journey is a testament to resilience, vision, and the transformative power of perseverance.
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