ICRA Limited · CashKonnect

About

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.

Key Metrics

as of Sep 2026

Market Cap4,721 Cr

P/E24.00

Div Yield1.43 %

Book Value₹1,223.00

52w High₹6,982.00

52w Low₹4,692.00

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	82.00	89.00	85.00	82.00	72.00	81.00	71.00	72.00	63.00	70.00	64.00	58.00	58.00
Expenses	54.00	50.00	53.00	54.00	52.00	44.00	48.00	51.00	46.00	44.00	52.00	44.00	42.00
Operating Profit	27.00	40.00	31.00	28.00	20.00	36.00	23.00	21.00	17.00	26.00	12.00	14.00	16.00
OPM %	34.00	44.00	37.00	35.00	27.00	45.00	32.00	29.00	26.00	37.00	19.00	24.00	27.00
Other Income	23.00	12.00	12.00	16.00	22.00	20.00	20.00	46.00	17.00	18.00	16.00	41.00	16.00
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	3.00	0.00	0.00
Profit before tax	48.00	49.00	41.00	42.00	40.00	53.00	40.00	65.00	31.00	41.00	23.00	53.00	30.00
Tax %	26.00	26.00	28.00	26.00	24.00	21.00	21.00	23.00	21.00	18.00	13.00	18.00	13.00
Net Profit	35.00	36.00	29.00	31.00	30.00	42.00	31.00	50.00	25.00	34.00	20.00	43.00	26.00
EPS in Rs	36.36	37.72	30.32	32.03	31.24	43.57	32.22	52.15	25.61	34.78	20.93	44.91	26.98

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	328.00	287.00	251.00	223.00	195.00	181.00	208.00	230.00	222.00	211.00	195.00	181.00
Expenses	209.00	190.00	184.00	163.00	140.00	139.00	149.00	141.00	124.00	129.00	118.00	129.00
Operating Profit	119.00	97.00	68.00	60.00	55.00	42.00	59.00	89.00	98.00	82.00	77.00	52.00
OPM %	36.00	34.00	27.00	27.00	28.00	23.00	28.00	39.00	44.00	39.00	40.00	29.00
Other Income	62.00	102.00	91.00	66.00	45.00	36.00	41.00	45.00	51.00	56.00	20.00	28.00
Interest	1.00	2.00	4.00	1.00	2.00	2.00	2.00	0.00	0.00	0.00	0.00	0.00
Depreciation	9.00	8.00	8.00	7.00	5.00	5.00	5.00	2.00	3.00	3.00	4.00	4.00
Profit before tax	171.00	189.00	147.00	117.00	93.00	72.00	92.00	131.00	146.00	134.00	94.00	76.00
Tax %	26.00	22.00	16.00	18.00	21.00	26.00	29.00	27.00	31.00	27.00	35.00	34.00
Net Profit	127.00	148.00	123.00	96.00	73.00	53.00	65.00	96.00	100.00	98.00	61.00	50.00
EPS in Rs	131.29	153.55	127.61	99.40	75.96	54.86	67.33	99.44	101.30	98.77	61.47	50.42
Dividend Payout %	80.00	39.00	78.00	131.00	37.00	49.00	40.00	30.00	30.00	27.00	41.00	48.00

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	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00
Reserves	875.00	795.00	732.00	727.00	655.00	605.00	573.00	539.00	561.00	492.00	398.00	367.00
Borrowings	8.00	11.00	10.00	13.00	14.00	16.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Liabilities	146.00	137.00	118.00	101.00	88.00	86.00	101.00	99.00	94.00	93.00	125.00	117.00
Total Liabilities	1,038.00	953.00	869.00	851.00	767.00	717.00	684.00	647.00	664.00	595.00	534.00	494.00
Fixed Assets	25.00	26.00	23.00	27.00	26.00	25.00	29.00	11.00	12.00	13.00	15.00	17.00
CWIP	1.00	1.00	1.00	1.00	1.00	2.00	2.00	1.00	0.00	0.00	0.00	0.00
Investments	739.00	656.00	682.00	658.00	481.00	204.00	131.00	208.00	365.00	337.00	271.00	344.00
Other Assets	273.00	269.00	163.00	165.00	260.00	486.00	522.00	427.00	287.00	245.00	247.00	134.00
Total Assets	1,038.00	953.00	869.00	851.00	767.00	717.00	684.00	647.00	664.00	595.00	534.00	494.00

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	102.00	94.00	57.00	53.00	39.00	53.00	3.00	60.00	52.00	45.00	56.00	58.00
Cash from Investing Activity	-33.00	10.00	71.00	-24.00	-14.00	-12.00	24.00	56.00	-7.00	24.00	-31.00	-29.00
Cash from Financing Activity	-63.00	-101.00	-130.00	-31.00	-30.00	-30.00	-38.00	-120.00	-31.00	-68.00	-29.00	-27.00
Net Cash Flow	7.00	3.00	-3.00	-2.00	-6.00	11.00	-11.00	-4.00	14.00	1.00	-4.00	2.00
Free Cash Flow	96.00	87.00	53.00	46.00	35.00	53.00	2.00	63.00	54.00	44.00	53.00	55.00
CFO/OP %	120.00	133.00	126.00	128.00	112.00	170.00	52.00	106.00	98.00	98.00	115.00	162.00

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	31.00	34.00	34.00	21.00	19.00	32.00	59.00	31.00	36.00	32.00	31.00	44.00
Cash Conversion Cycle	31.00	34.00	34.00	21.00	19.00	32.00	59.00	31.00	36.00	32.00	31.00	44.00
Working Capital Days	-69.00	-121.00	-124.00	-131.00	-108.00	-113.00	-35.00	-81.00	-80.00	-99.00	-166.00	-165.00
ROCE %	20.00	24.00	20.00	17.00	14.00	12.00	17.00	23.00	26.00	28.00	22.00	18.00

Shareholding Pattern

% holding — latest first

Holder	Jun 2026	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024	Jun 2024	Mar 2024	Dec 2023	Sep 2023
Promoters	51.86	51.86	51.86	51.86	51.86	51.86	51.86	51.86	51.86	51.86	51.86	51.86
FIIs	6.90	7.92	7.25	6.87	8.66	8.78	9.06	8.77	8.59	8.42	8.22	8.15
DIIs	24.27	24.51	25.55	26.15	24.38	24.17	23.92	24.09	23.60	24.05	24.21	23.98
Public	16.70	15.41	15.06	14.82	14.78	14.86	14.82	14.94	15.62	15.34	15.38	15.66
No. of Shareholders	23,802	22,189	21,929	21,818	21,176	20,521	19,757	19,138	18,526	17,547	17,415	17,520

Corporate Actions

23 records

Action	Ex Date	Record Date	Ratio	Amount (₹)	Notes
Dividend	23 Jul 2026	23 Jul 2026	—	35.00	NSE/BSE dividend mismatch: BSE/NSE=70.0; BSE/NSE=35.0
Dividend	23 Jul 2026	23 Jul 2026	—	70.00	NSE/BSE dividend mismatch: BSE/NSE=70.0; BSE/NSE=35.0
Dividend	25 Jul 2025	25 Jul 2025	—	60.00
Dividend	19 Jul 2024	—	—	100.00
Dividend	28 Jul 2023	—	—	90.00	NSE/BSE dividend mismatch: BSE/NSE=40.0; BSE/NSE=90.0
Dividend	28 Jul 2023	—	—	40.00	NSE/BSE dividend mismatch: BSE/NSE=40.0; BSE/NSE=90.0
Dividend	28 Jul 2022	—	—	28.00
Dividend	22 Jul 2021	—	—	27.00
Dividend	16 Sep 2020	—	—	27.00
Dividend	24 Sep 2019	—	—	30.00
Dividend	03 Aug 2018	—	—	30.00
Dividend	28 Jul 2017	—	—	27.00
Dividend	05 Aug 2016	—	—	25.00
Dividend	06 Aug 2015	—	—	24.00
Dividend	06 Aug 2014	—	—	23.00
Dividend	26 Jul 2013	—	—	22.00
Dividend	27 Jul 2012	—	—	20.00
Dividend	05 Aug 2011	—	—	17.00
Dividend	05 Aug 2010	—	—	17.00
Dividend	30 Jul 2009	—	—	12.00
Other	30 Jul 2009	—	—	—	Agm/Div-Fin Rs.7+Spl Rs.5
Dividend	24 Jul 2008	—	—	10.00
Dividend	23 Jul 2007	—	—	4.50