About
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 and short term instruments, InvITs, resolution plan, and non-convertible debentures; CDs for banks, bonds, mutual funds, and hybrid instruments; bank debt and capital market instruments, such as commercial papers, corporate bonds and debentures, and structured credit; structured finance ratings; insurance ratings; recovery ratings; issuer ratings; ratings of REITs; public finance; and monitoring agency for equity capital. 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.
Key Metrics
as of Sep 2026Market Cap5,235 Cr
P/E29.50
Div Yield1.27 %
Book Value₹310.00
52w High₹1,838.00
52w Low₹1,393.00
Face Value₹10.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 88.00 | 108.00 | 90.00 | 114.00 | 76.00 | 91.00 | 79.00 | 102.00 | 65.00 | 75.00 | 67.00 | 85.00 | 56.00 |
| Expenses | 56.00 | 50.00 | 53.00 | 49.00 | 48.00 | 45.00 | 48.00 | 45.00 | 43.00 | 40.00 | 43.00 | 40.00 | 36.00 |
| Operating Profit | 32.00 | 58.00 | 37.00 | 65.00 | 27.00 | 46.00 | 30.00 | 57.00 | 22.00 | 35.00 | 24.00 | 45.00 | 20.00 |
| OPM % | 36.00 | 54.00 | 41.00 | 57.00 | 36.00 | 50.00 | 39.00 | 56.00 | 34.00 | 47.00 | 35.00 | 53.00 | 36.00 |
| Other Income | 16.00 | 15.00 | 13.00 | 13.00 | 15.00 | 16.00 | 11.00 | 12.00 | 13.00 | 14.00 | 11.00 | 12.00 | 11.00 |
| Depreciation | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 |
| Interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 45.00 | 71.00 | 48.00 | 75.00 | 39.00 | 59.00 | 39.00 | 66.00 | 32.00 | 46.00 | 32.00 | 55.00 | 29.00 |
| Tax % | 25.00 | 24.00 | 24.00 | 25.00 | 26.00 | 24.00 | 25.00 | 25.00 | 26.00 | 25.00 | 30.00 | 25.00 | 26.00 |
| Net Profit | 34.00 | 53.00 | 36.00 | 56.00 | 29.00 | 45.00 | 29.00 | 50.00 | 24.00 | 35.00 | 22.00 | 41.00 | 22.00 |
| EPS in Rs | 11.27 | 17.77 | 12.01 | 18.61 | 9.72 | 14.99 | 9.85 | 16.60 | 8.04 | 11.67 | 7.47 | 13.69 | 7.27 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 388.00 | 337.00 | 283.00 | 249.00 | 219.00 | 220.00 | 219.00 | 297.00 | 322.00 | 280.00 | 265.00 | 257.00 |
| Expenses | 200.00 | 182.00 | 159.00 | 139.00 | 133.00 | 131.00 | 143.00 | 126.00 | 112.00 | 94.00 | 93.00 | 95.00 |
| Operating Profit | 187.00 | 155.00 | 124.00 | 110.00 | 86.00 | 88.00 | 77.00 | 171.00 | 209.00 | 186.00 | 172.00 | 162.00 |
| OPM % | 48.00 | 46.00 | 44.00 | 44.00 | 39.00 | 40.00 | 35.00 | 58.00 | 65.00 | 66.00 | 65.00 | 63.00 |
| Other Income | 56.00 | 51.00 | 47.00 | 37.00 | 28.00 | 32.00 | 31.00 | 30.00 | 25.00 | 34.00 | 9.00 | 44.00 |
| Interest | 2.00 | 2.00 | 1.00 | 1.00 | 0.00 | 1.00 | 1.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.00 |
| Depreciation | 9.00 | 8.00 | 8.00 | 8.00 | 7.00 | 7.00 | 7.00 | 3.00 | 3.00 | 3.00 | 4.00 | 5.00 |
| Profit before tax | 232.00 | 197.00 | 162.00 | 138.00 | 107.00 | 113.00 | 100.00 | 198.00 | 232.00 | 217.00 | 177.00 | 199.00 |
| Tax % | 25.00 | 25.00 | 26.00 | 25.00 | 21.00 | 24.00 | 20.00 | 32.00 | 31.00 | 30.00 | 33.00 | 30.00 |
| Net Profit | 174.00 | 148.00 | 119.00 | 104.00 | 84.00 | 86.00 | 80.00 | 135.00 | 161.00 | 152.00 | 118.00 | 140.00 |
| EPS in Rs | 58.04 | 49.44 | 40.01 | 34.95 | 28.49 | 29.13 | 27.32 | 45.82 | 54.66 | 51.70 | 40.03 | 48.39 |
| Dividend Payout % | 38.00 | 36.00 | 45.00 | 72.00 | 60.00 | 58.00 | 71.00 | 65.00 | 101.00 | 54.00 | 70.00 | 163.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 30.00 | 30.00 | 30.00 | 30.00 | 30.00 | 29.00 | 29.00 | 29.00 | 29.00 | 29.00 | 29.00 | 29.00 |
| Reserves | 954.00 | 828.00 | 729.00 | 665.00 | 621.00 | 554.00 | 502.00 | 520.00 | 570.00 | 495.00 | 379.00 | 331.00 |
| Borrowings | 16.00 | 16.00 | 17.00 | 14.00 | 4.00 | 6.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Liabilities | 110.00 | 96.00 | 75.00 | 58.00 | 54.00 | 61.00 | 72.00 | 56.00 | 57.00 | 62.00 | 91.00 | 84.00 |
| Total Liabilities | 1,109.00 | 969.00 | 851.00 | 766.00 | 709.00 | 651.00 | 603.00 | 606.00 | 656.00 | 586.00 | 499.00 | 445.00 |
| Fixed Assets | 92.00 | 93.00 | 93.00 | 91.00 | 82.00 | 76.00 | 83.00 | 75.00 | 52.00 | 53.00 | 55.00 | 56.00 |
| CWIP | 5.00 | 3.00 | 1.00 | 3.00 | 7.00 | 4.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 207.00 | 255.00 | 129.00 | 112.00 | 71.00 | 266.00 | 359.00 | 458.00 | 537.00 | 484.00 | 392.00 | 346.00 |
| Other Assets | 805.00 | 618.00 | 627.00 | 560.00 | 550.00 | 305.00 | 161.00 | 73.00 | 67.00 | 49.00 | 52.00 | 43.00 |
| Total Assets | 1,109.00 | 969.00 | 851.00 | 766.00 | 709.00 | 651.00 | 603.00 | 606.00 | 656.00 | 586.00 | 499.00 | 445.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 142.00 | 121.00 | 107.00 | 95.00 | 64.00 | 82.00 | 66.00 | 111.00 | 136.00 | 123.00 | 108.00 | 107.00 |
| Cash from Investing Activity | -98.00 | -72.00 | -60.00 | -2.00 | -23.00 | -38.00 | 26.00 | 81.00 | -27.00 | -28.00 | -41.00 | 157.00 |
| Cash from Financing Activity | -53.00 | -53.00 | -60.00 | -62.00 | -35.00 | -43.00 | -106.00 | -195.00 | -99.00 | -96.00 | -66.00 | -276.00 |
| Net Cash Flow | -9.00 | -4.00 | -12.00 | 31.00 | 6.00 | 2.00 | -14.00 | -4.00 | 11.00 | 0.00 | 1.00 | -13.00 |
| Free Cash Flow | 135.00 | 111.00 | 104.00 | 88.00 | 50.00 | 78.00 | 62.00 | 84.00 | 134.00 | 122.00 | 105.00 | 96.00 |
| CFO/OP % | 108.00 | 108.00 | 118.00 | 114.00 | 104.00 | 117.00 | 130.00 | 100.00 | 97.00 | 101.00 | 97.00 | 66.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 24.00 | 24.00 | 19.00 | 22.00 | 23.00 | 28.00 | 60.00 | 53.00 | 42.00 | 30.00 | 31.00 | 21.00 |
| Cash Conversion Cycle | 24.00 | 24.00 | 19.00 | 22.00 | 23.00 | 28.00 | 60.00 | 53.00 | 42.00 | 30.00 | 31.00 | 21.00 |
| Working Capital Days | 380.00 | 540.00 | 675.00 | 691.00 | 693.00 | -20.00 | 4.00 | 8.00 | -5.00 | -14.00 | -71.00 | -80.00 |
| ROCE % | 25.00 | 24.00 | 22.00 | 20.00 | 17.00 | 20.00 | 19.00 | 34.00 | 41.00 | 45.00 | 46.00 | 40.00 |
Corporate Actions
46 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 25 Jun 2026 | 26 Jun 2026 | — | 14.00 | |
| Dividend | 19 Nov 2025 | 19 Nov 2025 | — | 8.00 | |
| Dividend | 27 Jun 2025 | 27 Jun 2025 | — | 11.00 | |
| Dividend | 05 Nov 2024 | 05 Nov 2024 | — | 7.00 | |
| Dividend | 21 Jun 2024 | 21 Jun 2024 | — | 11.00 | |
| Dividend | 10 Nov 2023 | 10 Nov 2023 | — | 7.00 | |
| Dividend | 07 Jul 2023 | 07 Jul 2023 | — | 8.00 | NSE/BSE dividend mismatch: BSE/NSE=7.0; BSE/NSE=8.0 |
| Dividend | 07 Jul 2023 | 07 Jul 2023 | — | 7.00 | NSE/BSE dividend mismatch: BSE/NSE=7.0; BSE/NSE=8.0 |
| Dividend | 10 Feb 2023 | 10 Feb 2023 | — | 10.00 | |
| Dividend | 13 Sep 2022 | 14 Sep 2022 | — | 10.00 | |
| Other | 13 Sep 2022 | 14 Sep 2022 | — | — | Buy Back of Shares |
| Other | 13 Sep 2022 | 14 Sep 2022 | — | — | Buy Back |
| Dividend | 11 Nov 2021 | 12 Nov 2021 | — | 7.00 | |
| Dividend | 06 Sep 2021 | 07 Sep 2021 | — | 6.00 | |
| Dividend | 17 Feb 2021 | 19 Feb 2021 | — | 3.00 | |
| Dividend | 18 Nov 2020 | 19 Nov 2020 | — | 8.00 | |
| Dividend | 31 Aug 2020 | — | — | 2.50 | |
| Dividend | 20 Feb 2020 | 24 Feb 2020 | — | 6.00 | |
| Dividend | 19 Nov 2019 | 20 Nov 2019 | — | 8.00 | |
| Dividend | 19 Sep 2019 | — | — | 12.00 | |
| Dividend | 19 Aug 2019 | 20 Aug 2019 | — | 3.00 | |
| Dividend | 21 Feb 2019 | 22 Feb 2019 | — | 6.00 | |
| Dividend | 15 Nov 2018 | 16 Nov 2018 | — | 6.00 | |
| Dividend | 18 Sep 2018 | — | — | 25.00 | NSE/BSE dividend mismatch: BSE/NSE=12.0; BSE/NSE=25.0 |
| Dividend | 18 Sep 2018 | — | — | 12.00 | NSE/BSE dividend mismatch: BSE/NSE=12.0; BSE/NSE=25.0 |
| Dividend | 24 Aug 2018 | 27 Aug 2018 | — | 6.00 | |
| Dividend | 09 Feb 2018 | 12 Feb 2018 | — | 6.00 | |
| Dividend | 28 Nov 2017 | 29 Nov 2017 | — | 6.00 | |
| Dividend | 05 Sep 2017 | 06 Sep 2017 | — | 6.00 | |
| Dividend | 24 Jul 2017 | — | — | 10.00 | |
| Dividend | 14 Feb 2017 | 15 Feb 2017 | — | 6.00 | |
| Dividend | 17 Nov 2016 | 18 Nov 2016 | — | 6.00 | |
| Dividend | 19 Sep 2016 | — | — | 10.00 | |
| Dividend | 18 Aug 2016 | 20 Aug 2016 | — | 6.00 | |
| Dividend | 10 Feb 2016 | 11 Feb 2016 | — | 6.00 | |
| Dividend | 16 Nov 2015 | 17 Nov 2015 | — | 6.00 | |
| Dividend | 21 Sep 2015 | — | — | 8.00 | |
| Dividend | 29 Jul 2015 | 30 Jul 2015 | — | 6.00 | |
| Dividend | 24 Sep 2014 | — | — | 65.00 | NSE/BSE dividend mismatch: BSE/NSE=10.0; BSE/NSE=65.0 |
| Dividend | 24 Sep 2014 | — | — | 10.00 | NSE/BSE dividend mismatch: BSE/NSE=10.0; BSE/NSE=65.0 |
| Dividend | 13 Aug 2014 | 14 Aug 2014 | — | 6.00 | |
| Dividend | 30 Jan 2014 | 31 Jan 2014 | — | 6.00 | |
| Dividend | 26 Nov 2013 | 27 Nov 2013 | — | 6.00 | |
| Dividend | 24 Sep 2013 | — | — | 8.00 | |
| Dividend | 22 Aug 2013 | 23 Aug 2013 | — | 6.00 | |
| Dividend | 07 Mar 2013 | 08 Mar 2013 | — | 12.00 |