ICRA Limited
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.
Valuation
Profitability
Returns
Solvency
AI Summary
Indian StockStrengths1
- Healthy return on equity of 18.4%
Concerns1
- Other income is 61.9% of PBT β a large share of earnings is non-operating
Rule-based from financial data. Not advice.
Monthly Returns
Year-to-Date ROI
Historical Volatility
Historical Performance
Revenue, profitability, and cash flow trends (βΉ Crores)
Revenue (10Y)
Operating Income (10Y)
Net Profit (10Y)
Operating Margin % (10Y)
Dividend Payout % (10Y)
Free Cash Flow (10Y)
Growth Summary
Latest fiscal year: Mar 2025
Historical Growth
Year-by-year revenue, profitability, and cash flow (βΉ Crores, last 10 years)
| Year | Revenue | Op. Income | Net Profit | CFO | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|---|
| Mar 2025 | βΉ287.00 Cr | β | βΉ148.00 Cr | β | β | 18.4% | 14.3% | 20.3% |
| Mar 2024 | βΉ251.00 Cr | β | βΉ123.00 Cr | β | β | 16.6% | 12.6% | 28.1% |
| Mar 2023 | βΉ223.00 Cr | β | βΉ96.00 Cr | β | β | 13.0% | 14.4% | 31.5% |
| Mar 2022 | βΉ195.00 Cr | β | βΉ73.00 Cr | β | β | 11.0% | 7.7% | 37.7% |
| Mar 2021 | βΉ181.00 Cr | β | βΉ53.00 Cr | β | β | 8.6% | -13.0% | -18.5% |
| Mar 2020 | βΉ208.00 Cr | β | βΉ65.00 Cr | β | β | 11.1% | -9.6% | -32.3% |
| Mar 2019 | βΉ230.00 Cr | β | βΉ96.00 Cr | β | β | 17.5% | 3.6% | -4.0% |
| Mar 2018 | βΉ222.00 Cr | β | βΉ100.00 Cr | β | β | 17.5% | 5.2% | 2.0% |
| Mar 2017 | βΉ211.00 Cr | β | βΉ98.00 Cr | β | β | 19.5% | 8.2% | 60.7% |
| Mar 2016 | βΉ195.00 Cr | β | βΉ61.00 Cr | β | β | 15.0% | 7.7% | 22.0% |
Financial Statements
Income statement, balance sheet, and cash flow (βΉ Crores, as reported)
Consolidated Figures in USD Millions.
| Unnamed: 0 | TTM |
|---|---|
| Revenue / Net Sales | 306 |
| Total Expenses | 199 |
| EBIT / Operating Profit | 107 |
| OPM % | 35% |
| Other Income | 77 |
| Finance Costs | 1 |
| Depreciation & Amortisation | 8 |
| Profit Before Tax | 174 |
| Tax % | - |
| Net Profit / PAT | 134 |
| EPS (βΉ) | 139.06 |
| Dividend Payout % | - |
Peer Comparison
Financials sector peers, ranked by market cap
| Company | Market Cap | Revenue | P/E | P/B | EV/EBITDA | Rev G 1Y |
|---|---|---|---|---|---|---|
| ICRA Limitedthis co. | βΉ5.76 K Cr | βΉ287.00 Cr | 42.90 | 7.12 | 36.09 | 14.3% |
| HDFC Bank Ltd. | βΉ14.43 L Cr | βΉ3.01 L Cr | 20.30 | 2.78 | β | 16.3% |
| ICICI Bank Ltd. | βΉ10.28 L Cr | βΉ1.63 L Cr | 20.70 | 3.32 | β | 14.3% |
| State Bank Of India | βΉ9.49 L Cr | βΉ4.62 L Cr | 13.30 | 1.83 | β | 11.4% |
| Bajaj Finance Limited | βΉ5.91 L Cr | βΉ61.95 K Cr | 36.80 | 6.33 | β | 32.0% |
| LIFE INSURANCE CORPORATION OF INDIA | βΉ5.26 L Cr | βΉ8.87 L Cr | 10.30 | 3.73 | 9.87 | 5.2% |
| Kotak Mahindra Bank Ltd. | βΉ4.24 L Cr | βΉ52.92 K Cr | 31.70 | 3.39 | β | 15.5% |
| Industry Average | β | βΉ30.80 K Cr | 45.91 | 4.87 | 70.91 | 14.6% |