CARE Ratings Limited
₹1,658.55+₹38.20 (+2.4%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹4,862 Cr
- P/E
- 30.5x
- EV / EBITDA
- 27.8x
- Revenue
- ₹337 Cr
- Net margin
- 42.0%
- ROCE
- 16.0%
Price chart
Technical chartScreen technicals →+3.2% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- +2.7%
- 3M
- -2.8%
- 6M
- -0.5%
- 1Y
- +3.2%
- 5Y
- +146.8%
52-week range
Day change +₹38.20 (+2.4%) from ₹1,620 to ₹1,659 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in CARERATING, bought on each weekday since 2021.
AI Summary
Indian StockStrengths1
- Healthy return on equity of 17.2%
Concerns0
Rule-based from financial data. Not advice.
About the company
CARE Ratings Limited, a credit rating agency, provides various rating and related services in India and internationally.
Read moreShow less
CARE Ratings Limited, a credit rating agency, provides various rating and related services in India and internationally. It offers rating services for bank loan, debt instrument, bonds, long term instruments, non-convertible debentures, preference shares, fixed deposits, short term instruments NCDs, and commercial papers; principal protected market linked debentures, subordinate debt, CDs for banks, perpetual bonds, mutual funds, and hybrid instruments; structured finance ratings; insurance ratings; recovery ratings; ratings of REITs; infra EL; public finance; and monitoring agency for IPOs. The company was formerly known as Credit Analysis and Research Limited and changed its name to CARE Ratings Limited in June 2017. CARE Ratings Limited was incorporated in 1993 and is headquartered in Mumbai, India.
- Sector
- Financial Services
- Shares outstanding
- 3.0 Cr shares
- ISIN
- INE752H01013
- BSE code
- 534804
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹4,862 Cr
- P/E
- 30.5x
- P/B
- 5.3x
- EV / EBITDA
- 27.8x
- EV / Sales
- 16.8x
- P/S
- 17.2x
- Earnings yield
- 3.3%
- 52-week high
- ₹1,801.35
- 52-week low
- ₹1,412.55
Profitability
- Operating margin
- 43.8%
- Net margin
- 42.0%
- EBITDA margin
- 60.4%
- ROE
- 17.2%
- ROCE
- 16.0%
- ROA
- 14.0%
- Dividend payout
- 45.0%
- Tax rate
- 26.0%
- Other income, % of PBT
- 29.0%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹337 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 19.1%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 5.3%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹171 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 16.3%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 24.4%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 8.3%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹107 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 12.6%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -₹4.00 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 11.1%
Solvency and efficiency
- Current ratio
- 10.08
- Debt / Assets
- 0.02
- Debt / EBITDA
- 0.10
- Financial leverage
- 1.12
- CFO / Net profit
- 0.90
- Cash / Market cap
- 12.9%
- Cash per share
- ₹208.79
- Asset turnover
- 0.33
- Fixed asset turnover
- 3.04
- Capital intensity
- 0.33
- Debtor days
- 19 days
- Cash conversion cycle
- 19 days
Where the revenue went
Some FY2025 lines are not reported, so the ones that are appear as a table.
| Line | FY2025 |
|---|---|
| Sales | ₹337 Cr |
| Expenses | ₹182 Cr |
| Operating profit | ₹155 Cr |
| Other income | ₹51 Cr |
| Interest | ₹2 Cr |
| Depreciation | ₹8 Cr |
| Profit before tax | ₹197 Cr |
| Tax and other | ₹49 Cr |
| Net profit | ₹148 Cr |
Revenue and net profit
Revenue grew 19.1% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹220 Cr | ₹86 Cr |
| FY2022 | ₹219 Cr | ₹84 Cr |
| FY2023 | ₹249 Cr | ₹104 Cr |
| FY2024 | ₹283 Cr | ₹119 Cr |
| FY2025 | ₹337 Cr | ₹148 Cr |
Cash flows
FY2025: ₹121 Cr from operations, ₹49.0 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹82 Cr | ₹44 Cr |
| FY2022 | ₹64 Cr | ₹41 Cr |
| FY2023 | ₹95 Cr | ₹93 Cr |
| FY2024 | ₹107 Cr | ₹47 Cr |
| FY2025 | ₹121 Cr | ₹49 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹337 Cr+19.1%1Y
- Net profit
- ₹148 Cr+24.4%1Y
- Cash from operations
- ₹121 Cr
- Free cash flow
- ₹49 Cr+4.3%1Y
- Revenue CAGR, 5Y
- 5.3%
- EBITDA CAGR, 5Y
- 9.6%
- Net profit CAGR, 5Y
- 8.3%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹337 Cr | ₹155 Cr | — | ₹148 Cr | ₹121 Cr | ₹49 Cr | 17.2% | +19.1% | +24.4% |
Monthly returns
Month-by-month returns of CARERATING across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹969 Cr |
| Equity capital | ₹30 Cr |
| Reserves | ₹828 Cr |
| Borrowings | ₹16 Cr |
| Other liabilities | ₹96 Cr |
| Assets | ₹969 Cr |
| Fixed assets | ₹93 Cr |
| Capital work in progress | ₹3 Cr |
| Investments | ₹255 Cr |
| Other assets | ₹618 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
CARERATING trades at 30.5x earnings against a peer median of 26.9x (a 13% premium).
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| CARE Ratings LimitedCARERATINGthis companyP/E ↑ premium | ₹4,862 Cr | 30.5x | 5.3x | 17.2% | 27.8x |
| ICRA LimitedICRA | ₹5,761 Cr | 42.9x | 7.1x | 18.4% | 36.1x |
| MAS Financial Services LimitedMASFIN | ₹5,668 Cr | 17.0x | 2.0x | 11.8% | — |
| Canara Robeco Asset Management Company LimitedCRAMC | ₹5,595 Cr | 29.6x | — | 31.8% | 27.7x |
| Pilani Investment And Industries Corporation LimitedPILANIINVS | ₹5,445 Cr | 51.4x | 0.3x | 1.1% | 20.2x |
| INFIBEAM AVENUES LIMITEDCCAVENUE | ₹5,344 Cr | 41.1x | 1.1x | 4.8% | 19.1x |
| Northern Arc Capital Ltd.NORTHARC | ₹4,246 Cr | 12.2x | 1.2x | 10.1% | 10.2x |
| JANA SMALL FINANCE BANK LIMITEDJSFB | ₹4,242 Cr | 10.3x | 1.0x | — | — |
| ZAGGLE PREPAID OCEAN SERVICES LIMITEDZAGGLE | ₹4,112 Cr | 36.9x | 3.1x | 7.0% | 49.8x |
| Peer median | — | 26.9x | 2.8x | 12.3% | 33.9x |
Year-to-date ROI
CARERATING since 1 January, against earlier years.
Historical volatility
CARERATING's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 40.0% |
| FY2022 | 39.0% |
| FY2023 | 44.0% |
| FY2024 | 44.0% |
| FY2025 | 46.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹337 Cr |
| Costs | |
| Interest | ₹2 Cr |
| Expenses | ₹182 Cr |
| Operating profitOperating Profit | ₹155 Cr |
| Other income and charges | |
| Profit before tax | ₹197 Cr |
| Tax | |
| Net profitNet Profit | ₹148 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹969 Cr |
| Equity capitalEquity Capital | ₹30 Cr |
| Reserves | ₹828 Cr |
| Borrowings | ₹16 Cr |
| Other liabilitiesOther Liabilities | ₹96 Cr |
| AssetsTotal Assets | ₹969 Cr |
| Fixed assetsFixed Assets | ₹93 Cr |
| Capital work in progressCWIP | ₹3 Cr |
| Investments | ₹255 Cr |
| Other assetsOther Assets | ₹618 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹121 Cr |
| Investing cash flowCash from Investing Activity | -₹72 Cr |
| Financing cash flowCash from Financing Activity | -₹53 Cr |
| Change in cashNet Cash Flow | -₹4 Cr |
Learn while you research
Academy chapters picked for CARE Ratings Limited and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Valuation Multiples ExplainedThis stock trades at a P/E of 30.5, learn when high multiples are justified.6 min read
- 04 Stock Market RisksSmall caps carry concentrated, idiosyncratic risk, learn to manage it.6 min read
- 05 Sector AnalysisBanks & financials are uniquely sensitive to rates and credit cycles.6 min read
- 06 Essential Stock RatiosP/E, P/B, EV/EBITDA, what they mean and when to use each.7 min read