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ICRA Limited ICRA NSEFINANCIAL

Financial Services · Financial Data & Stock Exchanges · India
https://www.icra.in

ICRA Limited operates as an independent and professional investment information, and credit rating agency in India and internationally. The company operates through Ratings and Ancillary Services; and Research and Analytics segments. It offers research, and industry and economic research; data management and analytics, cash flow waterfall modelling, model validation and testing, credit risk analysis, and business transformation; market data and risk consulting services; and management consulting, and outsourcing and information services. The company also provides credit rating services for various issuers including manufacturing, service, non-banking finance, and infrastructure companies, as well as bank and financial institutions, municipal and other local bodies, state government, and small and medium sector entities; and financial sector ratings, which includes term loans, debentures, public deposits, working capital demand loans, cash credit from banks, commercial paper, mibor-linked loans, and others. It offers structured finance ratings for assessment of risk associated with individual components of structured instruments, including asset-backed securitization, collateralized debt obligation, mortgage backed securitization, future flow transaction, and partial guarantee structures; and infrastructure sector ratings to debt programs of issuers in power, roads, telecommunication, and other infrastructure related sectors. The company also provides other ratings, which includes mutual funds, public finance, infrastructure expected loss, infrastructure investment trust, independent credit evaluation, and market liked debenture. It offers credit perspectives detailed analysis, including key rating consideration, rating sensitivity factor, rating rationale, company profile, business update and outlook, financial update and outlook, etc.; and software solutions. ICRA Limited was incorporated in 1991 and is headquartered in Gurugram, India.

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₹5,375.00
-17.85% 1Y

Market & Price

Market Cap
₹5,186.64 Cr
Current Price
₹5,375.00
High / Low (52W)
₹6,942.08 / ₹5,003.00
Beta
0.22

Valuation

Stock P/E
28.57
Industry PE
19.12
Forward P/E
20.70
PEG Ratio
-
Book Value
₹1,226.87
Price to Book
4.38
P/S
8.65
EV/EBITDA
21.05
Dividend Yield
1.30%

Profitability & Returns

ROCE
20.52%
ROE
16.28%
ROA
8.40%
Profit Margin
30.28%
Op Margin
34.39%
EPS (Latest Qtr)
₹54.43
EPS (TTM)
₹188.13

Balance Sheet & Liquidity

Debt/Equity
-
Quick Ratio
3.48
Current Ratio
3.80
Debt
₹0
Total Assets
₹1,486.10 Cr
Current Assets
₹928.68 Cr
Working Capital
₹684.35 Cr

Ownership

Promoter Holding
63.90%
Chg in Prom Hold
-
FII / Inst Holding
25.40%
Chg in FII Hold
-

Financial Snapshot

Enterprise Value
₹4,527.31 Cr
Total Revenue (TTM)
₹599.51 Cr
EBITDA
₹215.03 Cr
Free Cash Flow
₹115.70 Cr
Operating Cash Flow
₹157.26 Cr
Shares Outstanding
₹96.24 L
Gross Margin
48.27%
Payout Ratio
31.86%

Growth (CAGR)

Revenue 5Y
14.38%
Profit 5Y
10.31%
Revenue (YoY)
4.10%
Earnings (YoY)
32.30%

PROS

  • Healthy ROCE of 20.5%.
  • Excellent profit margin of 30.3%.
  • Compounding revenue at 14.4% over 5 years.
  • Profit CAGR of 10.3% over 5 years.
  • Generates positive free cash flow.

CONS

  • In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Financial Services).

#NameCMP ₹P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 ICRA ICRA Limited NSEFINANCIAL 5,375.00 28.57 ₹5,186.64 Cr 1.30% 20.52% 16.28% 14.38% 10.31%
2 HDFCBANK HDFC Bank Limited NIFTY50NSEAIFINANCIAL 744.55 16.61 ₹11.46 L Cr 1.75% - 13.82% 32.50% 20.39%
3 ICICIBANK ICICI Bank Limited NIFTY50NSEAIFINANCIAL 1,256.40 16.81 ₹9.01 L Cr 0.88% - 16.36% 19.65% 16.78%
4 SBIN State Bank of India NIFTY50NSEAIFINANCIALPSU 964.40 10.58 ₹8.90 L Cr 1.80% - 15.48% 12.19% 14.39%
5 KOTAKBANK Kotak Mahindra Bank Limited NIFTY50NSEAIFINANCIAL 384.20 19.80 ₹3.82 L Cr 0.13% - 11.39% 14.58% 8.92%
6 LICI Life Insurance Corporation of India NIFTY_MIDNSEFINANCIALPSU 411.35 9.06 ₹2.60 L Cr 2.43% - 42.36% 7.61% 16.86%
7 SHRIRAMFIN Shriram Finance Limited NIFTY50NSEFINANCIAL 947.15 17.79 ₹2.23 L Cr 1.46% - 16.38% 15.48% 18.59%
8 SBILIFE SBI Life Insurance Company Limited NIFTY50NSEFINANCIAL 1,830.10 74.06 ₹1.84 L Cr 0.15% - 13.70% 11.67% 12.81%
9 ICICIAMC ICICI PRUDENTIAL AMC LTD NIFTY_MIDNSEFINANCIAL 3,538.50 53.19 ₹1.75 L Cr 0.70% 98.30% 85.80% 28.94% 29.58%
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Quarterly Results

Figures in INR.

Metric Sep 2024Dec 2024Mar 2025Jun 2025Dec 2025Mar 2026
Revenue 126.12 Cr120.87 Cr136.21 Cr124.49 Cr163.59 Cr174.85 Cr
Cost of Revenue 70.39 Cr64.63 Cr61.14 Cr69.71 Cr83.64 Cr84.27 Cr
Gross Profit 55.73 Cr56.24 Cr75.08 Cr54.77 Cr79.95 Cr90.58 Cr
Operating Expenses 18.48 Cr18.27 Cr20.40 Cr19.12 Cr32.72 Cr31.03 Cr
Operating Income 37.25 Cr37.97 Cr54.68 Cr35.65 Cr47.23 Cr59.55 Cr
EBITDA 61.31 Cr61.01 Cr79.78 Cr64.11 Cr65.85 Cr83.74 Cr
Interest Expense 34.16 L1.07 Cr1.24 Cr1.65 Cr97.55 L93.81 L
Pretax Income 56.95 Cr55.75 Cr74.06 Cr58.37 Cr54.91 Cr72.80 Cr
Tax Provision 19.85 Cr13.53 Cr18.07 Cr15.61 Cr15.85 Cr20.11 Cr
Net Income 36.72 Cr42.03 Cr55.74 Cr42.44 Cr38.82 Cr52.45 Cr
Diluted EPS 38.1143.6357.8644.0540.2754.43

Profit & Loss (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue -400.60 Cr444.23 Cr498.02 Cr599.51 Cr
Cost of Revenue -190.49 Cr231.01 Cr261.13 Cr310.12 Cr
Gross Profit -210.11 Cr213.23 Cr236.89 Cr289.39 Cr
Operating Expenses -76.75 Cr73.56 Cr75.53 Cr102.63 Cr
Operating Income -133.36 Cr139.66 Cr161.36 Cr186.77 Cr
EBITDA -192.46 Cr223.73 Cr255.17 Cr283.13 Cr
Interest Expense -1.41 Cr10.41 Cr4.80 Cr4.43 Cr
Pretax Income -181.22 Cr199.86 Cr233.97 Cr250.45 Cr
Tax Provision -44.49 Cr47.62 Cr62.77 Cr67.91 Cr
Net Income -135.24 Cr151.09 Cr170.01 Cr181.52 Cr
Diluted EPS -140.59156.99176.50188.32

Compounded Sales Growth

5 Years:14.38%
1 Year:4.10%

Compounded Profit Growth

5 Years:10.31%
1 Year:32.30%

Stock Price Performance

1 Year:-17.85%
6 Months:-12.63%
3 Months:-6.07%
1 Month:-2.26%

Balance Sheet (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets -1,100.82 Cr1,186.65 Cr1,294.17 Cr1,486.10 Cr
Current Assets -565.45 Cr656.46 Cr1,128.12 Cr928.68 Cr
Cash & Equivalents -12.16 Cr10.48 Cr35.13 Cr29.72 Cr
Inventory -----
Receivables -38.05 Cr51.09 Cr47.59 Cr78.41 Cr
Total Liabilities -145.89 Cr205.67 Cr236.52 Cr300.96 Cr
Current Liabilities -131.74 Cr151.86 Cr177.10 Cr244.34 Cr
Long Term Debt -01.02 Cr62.58 L37.58 L
Total Debt -13.03 Cr12.68 Cr13.14 Cr18.40 Cr
Total Equity -950.28 Cr976.49 Cr1,053.23 Cr1,180.74 Cr
Shares Outstanding -96.51 L96.51 L96.51 L96.51 L

Cash Flows (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow -99.26 Cr107.01 Cr144.89 Cr157.26 Cr
Investing Cash Flow --76.84 Cr27.49 Cr-16.89 Cr-110.19 Cr
Financing Cash Flow --32.13 Cr-136.71 Cr-103.13 Cr-66.91 Cr
Capital Expenditure --9.09 Cr-6.90 Cr-12.41 Cr-12.49 Cr
Free Cash Flow -90.17 Cr100.11 Cr132.48 Cr144.76 Cr
Net Change in Cash --9.71 Cr-2.21 Cr24.87 Cr-19.85 Cr

Ratios (Annual)

Figures in %.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Gross Margin % -52.4%48.0%47.6%48.3%
Operating Margin % -33.3%31.4%32.4%31.2%
Net Margin % -33.8%34.0%34.1%30.3%
ROE % -14.2%15.5%16.1%15.4%
ROCE % -13.8%13.5%14.4%15.0%

Shareholding Pattern

Insiders
63.90%
Institutions
25.40%
Public Float
70.36%

Analyst View

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