ICRAFinancial Services

ICRA Limited

Ratings · ISIN INE725G01011 · BSE 532835 · NSE EQ · FV ₹10
Last price
₹4,585
-0.55%today
What this company does

ICRA Limited operates in Ratings, part of the Financial Services sector. It booked ₹163 cr of revenue in its latest quarter (Q1 FY27) and kept 34.4% of sales as profit.

In the report:
66out of 100
Equitytale Health Score
Solid

Healthier than 66% of companies in Financial Services, on the 5 of 6 measures we could read for it. Each measure is ranked against the 54–250 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
32

At close. Not part of the score.

Profitability & returns76

How much profit it earns on the money it employs

Cash quality82

Whether reported profit actually arrives as cash

Growth & consistency51

Whether sales and profit have grown, and how steadily

Valuation29

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Not measurable for this company: balance sheet. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Looks broadly healthyPriced in line with peers
Strengths
Makes a profit
Strong 34% net margin
Sales up 31% vs last year
Profit up 32% vs last year
Promoters hold 52%
No promoter shares pledged
Strong 19% return on equity
Virtually debt-free
Turns profit into real cash
Watch-outs
None flagged from our data

What if I invest in ICRA?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹4,585 -0.55%
latest close · 2026-09-17
1-year return
+26.1%
52-wk low ₹3,35052-wk high ₹5,322
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio19.6Average
LowAverageHigh
P/B ratio3.75High
Below bookModerateHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity19.0%Strong
WeakFairStrong ▸15%
Return on capital24.7%Strong
WeakFairStrong
Net margin34.4%Strong
ThinDecentStrong
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.00Comfortable
LowModerateHigh ▸1
Current ratio3.80Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹4,425 cr
Book value
₹1,223
EPS
₹58.36
latest quarter
Net debt
Enterprise value
EBITDA
EBIT
Operating margin
Return on assets
15.1%
Earnings yield
5.09%
P/S
6.77
Sales / share
₹677.1
Tax rate
25.8%
Face value
₹10
Shares
1.0 cr
Working capital
₹684 cr
Current assets
₹929 cr
Current liabilities
₹244 cr
Delivery %
60.8%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2024 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹1,012₹1,975, midpoint ₹1,432

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹163 cr
Other Income₹28 cr
Total Income₹191 cr
Cost of Materials₹0 cr
Purchases of Stock-in-Trade₹0 cr
Employee Benefit Expense₹87 cr
Finance Costs₹44.6 L
Depreciation & Amortisation₹11 cr
Other Expenses₹21 cr
Total Expenses₹119 cr
Exceptional Items₹4 cr
Profit before Tax₹76 cr
Tax Expense₹20 cr
Net Profit₹56 cr
Net margin on total income29.6%
Where the money goes · Q1 FY27
% of total income
Employee benefit expense₹87 cr44.7%
Finance costs₹44.6 L0.2%
Depreciation & amortisation₹11 cr5.4%
Other expenses₹21 cr10.8%
Tax expense₹20 cr10.1%
Profit for the period₹56 cr28.9%
Total income ₹191 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue164 cr175 cr163 cr
Total income179 cr189 cr191 cr
Expenses117 cr116 cr119 cr
Profit before tax55 cr73 cr76 cr
Tax16 cr20 cr20 cr
Net profit (owners' share)39 cr52 cr56 cr
Net margin (owners' share, on revenue)23.7%30.0%34.4%
EPS (₹)40.3454.5058.36
YoY (latest quarter): total income +28.3% · net profit +32.3%
Balance sheet & cash flow · as of Mar 2026
Debt-free
Total assets
₹1,486 cr
Shareholder equity
₹1,181 cr
parent shareholders
Total debt
₹62.6 L
Cash
₹30 cr
Cash flow · H1 FY26
Operating
₹78 cr
Investing
₹-44 cr
Financing
₹-61 cr
Peer comparison
Financial Services · by market value (sector-level match)
CompanyPriceMarket capP/E
HDFC Bank Limited₹713₹10.98 L cr14.3
ICICI Bank Limited₹1,348₹9.67 L cr15.6
State Bank of India₹989₹9.13 L cr9.5
Bajaj Finance Limited₹1,015₹6.31 L cr26.4
Bajaj Finserv Limited₹1,859₹5.97 L cr23.7
Kotak Mahindra Bank Limited₹417₹4.14 L cr18.9
Axis Bank Limited₹1,240₹3.86 L cr12.6
Shriram Finance Limited₹995₹2.34 L cr16.7
ICICI Prudential Asset Management Company Limited₹3,098₹1.53 L cr39.7
Same sector · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
2.29%
trailing 12 months
Dividend / share (TTM)
₹105
Last dividend
₹70
ex 23 Jul 2026
ActionDetailEx-date
Dividend₹70 / share23 Jul 2026
Dividend₹35 / share23 Jul 2026
Dividend₹60 / share25 Jul 2025
Dividend₹100 / share19 Jul 2024
Dividend₹40 / share28 Jul 2023
Dividend₹90 / share28 Jul 2023
Who owns it · 2026-06-30
No pledge
Promoter
51.9%
FII / Foreign
6.9%
DII / Domestic
24.3%
Retail / others
16.7%
Smart-money activity
Insider trades
SoldAdivam Family Trust · Connected Person500 · ₹23.6 L9 Sep 26
BoughtAmit Gupta · KMP346 · ₹17.4 L1 Sep 26
BoughtVenkatesh Viswanathan · KMP206 · ₹10.1 L31 Aug 26
Bulk / block deals
BoughtNIPPON INDIA MUTUAL FUND · NSE72,333 @ ₹5,0757 Apr 26
BoughtPPFAS MUTUAL FUND A/C PARAG PARIKH FLEXI CAP FUND · NSE2.02 L @ ₹2,780.0418 Mar 21
SoldSMALLCAP WORLD FUND INC · NSE2.29 L @ ₹2,87714 Mar 19
Stake changes
BoughtNippon India Mutual Fund→ 8.39% · 1.45 L7 Apr 26
SoldPari Washington India Master Fund, Ltd→ 3.35% · 1.45 L7 Apr 26
BoughtNippon india Mutual Fund→ 5.16% · 1.95 L3 Jul 25
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 31 Jul 2025
See the official result
1
To receive, consider and adopt: a. the audited standalone financial statements of the Company for the financial year ended March 31, 2025, and the report of the Board of Directors and Auditors thereon; and b. the audited consolidated financial statements of the Company and its Subsidiaries for the financial year ended March 31, 2025, and the report of the Auditors thereon.
Backed by 100% of shareholders other than promotersneeded 50%
24.97 L votes for, 106 against · 0% of mutual funds and other big investors said no
2
To declare dividend of Rs. 60 on the equity shares for the financial year ended March 31, 2025
Backed by 100% of shareholders other than promotersneeded 50%
24.98 L votes for, 106 against · 0% of mutual funds and other big investors said no
3
To appoint a Director in place of Mr. Stephen Arthur Long (DIN: 09595066), who retires by rotation, and being eligible, offers himself for reappointment
Backed by 99% of shareholders other than promotersneeded 50%
24.78 L votes for, 19,359 against · 1% of mutual funds and other big investors said no
4
Appointment of M/s. Chandrasekaran Associates, Company Secretaries, as the Secretarial Auditor of the Company and to fix their remuneration
Backed by 100% of shareholders other than promotersneeded 50%
24.98 L votes for, 126 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 2 named members
owning 51.9% between them · as of 2026-06-30
Moody's Investment Company India Private Limited31.66%
Moody's Singapore Pte Ltd20.20%
Business done with them
FY2026 · 2 of the group
The company paid ₹30 cr to companies in the promoter group last year — about 5.0% of its ₹600 cr revenue.
MOODY'S INVESTMENT COMPANY INDIA PRIVATE LIMITED
Other payments to them · Description is mentioned along with the relevant line item.
also owns 31.66% of the company
₹18 cr
company paid
Moody's Singapore Pte Limited
Other payments to them · Description is mentioned along with the relevant line item.
also owns 20.20% of the company
₹12 cr
company paid

The company also transacted with 16 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.