ICRA Limited Share Price & Analysis
Price Chart
Fundamentals
Strengths
- Strong return on equity (ROE 16.7%)
- Efficient capital deployment (ROCE 23%)
- Attractively valued vs sector (P/E 24x vs industry 37.5x)
- Virtually debt-free
- Near 52-week low — potential value zone (₹4,692)
Concerns
Peer Comparison
| Company | CMP | Mkt Cap | P/E | P/B | ROE % | ROCE % | D/E |
|---|---|---|---|---|---|---|---|
| HDFCBANK HDFC Bank Limited | ₹712 | ₹11.0L Cr | 13.9 | 1.83 | 13.6 | 7.02 | — |
| ICICIBANK ICICI Bank Limited | ₹1,423 | ₹10.2L Cr | 18.2 | 2.7 | 15.9 | 7.18 | — |
| SBIN State Bank of India | ₹1,016 | ₹9.4L Cr | 11.2 | 1.51 | 15.4 | 6.13 | — |
| BAJFINANCE Bajaj Finance Limited | ₹1,061 | ₹6.6L Cr | 32.2 | 5.8 | 18.2 | 10.9 | — |
| LICI Life Insurance Corporation Of India | ₹415 | ₹5.3L Cr | 8.75 | — | 37.8 | 35.1 | 0 |
| KOTAKBANK Kotak Mahindra Bank Limited | ₹425 | ₹4.2L Cr | 21.1 | 2.33 | 11.4 | 6.98 | — |
| AXISBANK Axis Bank Limited | ₹1,273 | ₹4.0L Cr | 14.3 | 1.79 | 13.1 | 6.24 | — |
Showing 7 peers in the same sector · Sorted by market cap
Shareholding Pattern
ICRA · as of Mar 2026
| Category | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Promoters | 51.86% | 51.86% | 51.86% | 51.86% | 51.86% | 51.86% |
| FII | 8.22% | 8.42% | 8.59% | 8.77% | 9.06% | 8.78% |
| DII | 24.21% | 24.05% | 23.60% | 24.09% | 23.92% | 24.17% |
| Public | 15.38% | 15.34% | 15.62% | 14.94% | 14.82% | 14.86% |
| Others | 0.33% | 0.33% | 0.33% | 0.32% | 0.32% | 0.32% |
Corporate Events
To consider and approve the financial results for the period ended March 31, 2026 and dividend
Annual General Meeting/Dividend - Rs 60 Per Share
Annual General Meeting/Dividend - Rs 100 Per Share
Annual General Meeting/Dividend - Rs 40 Per Share/Special Dividend - Rs 90 Per Share
Latest News
All newsICRA board meets; no major announcements disclosed
*ICRA board meets; no major announcements disclosed.* The outcome of the July 30, 2026, board meeting did not reveal any significant decisions or financial updates. No new ratings, leadership changes, or strategic moves were reported. The filing appears to be a routine compliance disclosure. 📊 *STOCKS:* ICRA | 🏢 *SECTOR:* CapitalMarkets | #LOWIMPACT #BoardMeeting
ICRA reports Q1FY26 financial results.
*ICRA reports Q1FY26 financial results.* The company has submitted its financial results for the quarter ended June 30, 2026. Results reflect performance metrics including revenue and profit, though specifics are not detailed. Traders may assess fundamentals based on the full financial statement. 📊 *STOCKS:* ICRA | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #Earnings
ICRA to acquire full stake in Acuitus Rating
*ICRA to acquire full stake in Acuitus Rating.* The move will strengthen ICRA’s presence in the credit rating space. The acquisition value is **₹200 crore** and expected to be completed by Q4 FY25. ICRA will gain strategic control over the subsidiary. 📊 *STOCKS:* ICRA | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #Acquisition
Can Fin Homes receives new credit rating
*Can Fin Homes receives new credit rating.* The company's latest credit assessment reflects stable creditworthiness with **CRISIL** and **ICRA** affirming ratings. No changes in outlook were indicated. This routine update supports ongoing debt market operations. 📊 *STOCKS:* CANFINHOME | 🏢 *SECTOR:* CapitalMarkets | #LOWIMPACT #CreditRating
ICRA to acquire majority stake in Acuité Ratings
*ICRA to acquire majority stake in Acuité Ratings* to strengthen its footprint in the credit rating space. The move enhances ICRA’s competitive positioning and diversifies its client base. This strategic acquisition is valued at **₹400 crore**. Acuité’s expertise in MSME and infrastructure segments adds key capabilities. 📊 *STOCKS:* ICRA | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #Acquisition
ICRA forecasts 7% GDP growth for Q1 FY27
*ICRA projects India's GDP growth to slow to **7%** in Q1 FY27, the weakest in four quarters.* This indicates a moderation in economic momentum amid tight monetary conditions and sluggish rural demand. A lower growth number could influence RBI's rate-setting trajectory and market expectations. Weakness may weigh on equity sentiment, especially in consumption and banking. 📊 *STOCKS:* | 🏢 *SECTOR:* Macro | #HIGHIMPACT #GDP
ICRA estimates Q1 GDP growth at 7%, lowest in four quarters
*ICRA estimates India's GDP growth at a four-quarter low of **7%** in Apr-Jun.* This marks a notable slowdown from the previous quarter's **8.2%** and below the expected **7.5%**. The deceleration reflects weaker industrial output and muted private consumption. 📊 *STOCKS:* | 🏢 *SECTOR:* Macro | #HIGHIMPACT #GDP
ICRA forecasts 7% GDP growth for Q1 FY27
*ICRA forecasts India's GDP growth to soften to **7%** in Q1 FY27 due to margin pressures from West Asia tensions.* The geopolitical risks are expected to impact crude oil prices and trade flows, affecting corporate margins and investment sentiment. This projection implies slower economic momentum compared to previous quarters. 📊 *STOCKS:* | 🏢 *SECTOR:* Macro | #HIGHIMPACT #GDP
ICRA cuts India's GDP growth to 6.2% for FY25
*ICRA revises India's GDP growth forecast down to **6.2%** for FY25, citing slower industrial activity and weak rural demand.* The downgrade from earlier estimates signals macroeconomic headwinds affecting consumption and investment trends. This could influence RBI's rate decisions and market sentiment across sectors. 📊 *STOCKS:* | 🏢 *SECTOR:* Macro | #HIGHIMPACT #GDP
ICRA cuts India's FY27 GDP growth forecast to 6.2%
ICRA has downgraded India's real GDP growth forecast for FY27 to **6.2%** from **6.5%** earlier, citing slower-than-expected rural recovery and weak private consumption. The rating agency also projected FY26 growth at **6.4%**, marginally below earlier estimates. This revision raises concerns over near-term economic momentum and corporate earnings growth. 📊 *STOCKS:* | 🏢 *SECTOR:* Macro | #HIGHIMPACT #GDP
Financials
Quarterly Results
| Metric | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹164 Cr 19.7% | ₹137 Cr 10.5% | ₹124 Cr 8.8% | ₹136 Cr 12.4% | ₹121 Cr 4.0% | ₹126 Cr 9.6% | ₹115 Cr 7.3% | ₹124 Cr |
| Op. Profit | ₹57 Cr 16.3% | ₹49 Cr 22.5% | ₹40 Cr 32.2% | ₹59 Cr 40.5% | ₹42 Cr 2.4% | ₹41 Cr 17.1% | ₹35 Cr 30.0% | ₹50 Cr |
| OPM | 35.0% 2.8% | 36.0% 12.5% | 32.0% 25.6% | 43.0% 22.9% | 35.0% 6.1% | 33.0% 6.5% | 31.0% 22.5% | 40.0% |
| Net Profit | ₹39 Cr 18.8% | ₹48 Cr 11.6% | ₹43 Cr 23.2% | ₹56 Cr 33.3% | ₹42 Cr 13.5% | ₹37 Cr 2.8% | ₹36 Cr 23.4% | ₹47 Cr |
| EPS (₹) | 40.22 18.8% | 49.54 12.7% | 43.97 23.9% | 57.75 32.6% | 43.55 14.5% | 38.05 3.4% | 36.8 24.2% | 48.56 |
Values in ₹ Cr · Source: Screener.in
Annual Profit & Loss
| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹600 Cr 20.5% | ₹498 Cr 11.7% | ₹446 Cr 10.7% | ₹403 Cr 17.5% | ₹343 Cr 14.0% | ₹301 Cr 6.2% | ₹321 Cr 2.1% | ₹328 Cr 6.1% | ₹309 Cr 7.2% | ₹333 Cr |
| Expenses | ₹384 Cr 20.0% | ₹320 Cr 7.7% | ₹297 Cr 14.2% | ₹260 Cr 17.1% | ₹222 Cr 0.9% | ₹220 Cr 2.2% | ₹225 Cr 4.7% | ₹215 Cr 10.8% | ₹194 Cr 16.0% | ₹231 Cr |
| Op. Profit | ₹215 Cr 20.8% | ₹178 Cr 19.5% | ₹149 Cr 4.2% | ₹143 Cr 18.2% | ₹121 Cr 49.4% | ₹81 Cr 15.6% | ₹96 Cr 15.0% | ₹113 Cr 1.7% | ₹115 Cr 12.7% | ₹102 Cr |
| OPM | 36.0% 0.0% | 36.0% 9.1% | 33.0% 5.7% | 35.0% 0.0% | 35.0% 29.6% | 27.0% 10.0% | 30.0% 11.8% | 34.0% 8.1% | 37.0% 19.4% | 31.0% |
| Other Income | ₹68 Cr 11.7% | ₹77 Cr 2.7% | ₹75 Cr 50.0% | ₹50 Cr 22.0% | ₹41 Cr 4.7% | ₹43 Cr 10.4% | ₹48 Cr 6.7% | ₹45 Cr 8.2% | ₹49 Cr 25.6% | ₹39 Cr |
| Interest | ₹4 Cr 20.0% | ₹5 Cr 50.0% | ₹10 Cr 900.0% | ₹1 Cr 50.0% | ₹2 Cr 0.0% | ₹2 Cr 0.0% | ₹2 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Depreciation | ₹28 Cr 75.0% | ₹16 Cr 23.1% | ₹13 Cr 30.0% | ₹10 Cr 25.0% | ₹8 Cr 20.0% | ₹10 Cr 0.0% | ₹10 Cr 66.7% | ₹6 Cr 25.0% | ₹8 Cr 11.1% | ₹9 Cr |
| PBT | ₹250 Cr 6.8% | ₹234 Cr 17.0% | ₹200 Cr 10.5% | ₹181 Cr 19.1% | ₹152 Cr 35.7% | ₹112 Cr 14.5% | ₹131 Cr 13.8% | ₹152 Cr 3.2% | ₹157 Cr 18.9% | ₹132 Cr |
| Tax % | 27.0% 0.0% | 27.0% 12.5% | 24.0% 4.0% | 25.0% 0.0% | 25.0% 3.8% | 26.0% 0.0% | 26.0% 13.3% | 30.0% 14.3% | 35.0% 6.1% | 33.0% |
| Net Profit | ₹183 Cr 7.0% | ₹171 Cr 12.5% | ₹152 Cr 10.9% | ₹137 Cr 20.2% | ₹114 Cr 37.3% | ₹83 Cr 14.4% | ₹97 Cr 8.5% | ₹106 Cr 5.0% | ₹101 Cr 13.5% | ₹89 Cr |
| EPS (₹) | 188.08 6.8% | 176.15 12.5% | 156.55 11.7% | 140.13 20.4% | 116.35 37.5% | 84.61 15.1% | 99.66 8.7% | 109.21 7.4% | 101.68 13.9% | 89.29 |
| Div Payout | 56.0% 64.7% | 34.0% 46.9% | 64.0% 31.2% | 93.0% 287.5% | 24.0% 25.0% | 32.0% 18.5% | 27.0% 0.0% | 27.0% 6.9% | 29.0% 3.3% | 30.0% |
Values in ₹ Cr · Source: Screener.in
Balance Sheet
| Item | Sep 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
Liabilities | ||||||||||
| Equity Capital | ₹10 Cr 0.0% | ₹10 Cr 0.0% | ₹10 Cr 0.0% | ₹10 Cr 0.0% | ₹10 Cr 0.0% | ₹10 Cr 0.0% | ₹10 Cr 0.0% | ₹10 Cr 0.0% | ₹10 Cr 0.0% | ₹10 Cr |
| Reserves | ₹1.1K Cr 3.3% | ₹1.0K Cr 8.0% | ₹967 Cr 2.8% | ₹941 Cr 12.8% | ₹834 Cr 11.5% | ₹748 Cr 8.1% | ₹692 Cr 9.7% | ₹631 Cr 2.2% | ₹645 Cr 19.7% | ₹539 Cr |
| Borrowings | ₹12 Cr 7.7% | ₹13 Cr 0.0% | ₹13 Cr 0.0% | ₹13 Cr 7.1% | ₹14 Cr 17.6% | ₹17 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other Liabilities | ₹265 Cr 17.8% | ₹225 Cr 15.4% | ₹195 Cr 41.3% | ₹138 Cr 14.0% | ₹121 Cr 0.0% | ₹121 Cr 16.0% | ₹144 Cr 12.5% | ₹128 Cr 10.3% | ₹116 Cr 4.5% | ₹111 Cr |
| Total Liabilities | ₹1.4K Cr 5.6% | ₹1.3K Cr 9.1% | ₹1.2K Cr 7.5% | ₹1.1K Cr 12.6% | ₹978 Cr 9.2% | ₹896 Cr 5.9% | ₹846 Cr 10.0% | ₹769 Cr 0.3% | ₹771 Cr 16.8% | ₹660 Cr |
Assets | ||||||||||
| Fixed Assets | ₹90 Cr 0.0% | ₹90 Cr 1.1% | ₹91 Cr 93.6% | ₹47 Cr 2.2% | ₹46 Cr 0.0% | ₹46 Cr 14.8% | ₹54 Cr 58.8% | ₹34 Cr 5.6% | ₹36 Cr 2.7% | ₹37 Cr |
| CWIP | ₹0 Cr 100.0% | ₹4 Cr 300.0% | ₹1 Cr 0.0% | ₹1 Cr 50.0% | ₹2 Cr 33.3% | ₹3 Cr 50.0% | ₹2 Cr 100.0% | ₹1 Cr | ₹0 Cr 100.0% | ₹1 Cr |
| Investments | ₹911 Cr 17.9% | ₹773 Cr 4.9% | ₹813 Cr 18.0% | ₹689 Cr 51.8% | ₹454 Cr 156.5% | ₹177 Cr 70.2% | ₹104 Cr 42.9% | ₹182 Cr 46.2% | ₹338 Cr 8.7% | ₹311 Cr |
| Other Assets | ₹363 Cr 14.8% | ₹426 Cr 53.2% | ₹278 Cr 23.6% | ₹364 Cr 23.8% | ₹478 Cr 28.6% | ₹669 Cr 2.3% | ₹685 Cr 24.1% | ₹552 Cr 39.4% | ₹396 Cr 26.9% | ₹312 Cr |
| Total Assets | ₹1.4K Cr 5.6% | ₹1.3K Cr 9.1% | ₹1.2K Cr 7.5% | ₹1.1K Cr 12.6% | ₹978 Cr 9.2% | ₹896 Cr 5.9% | ₹846 Cr 10.0% | ₹769 Cr 0.3% | ₹771 Cr 16.8% | ₹660 Cr |
Values in ₹ Cr · Source: Screener.in
Cash Flow Statement
| Item | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating CF | ₹145 Cr 35.5% | ₹107 Cr 8.1% | ₹99 Cr 2.1% | ₹97 Cr 27.6% | ₹76 Cr 261.9% | ₹21 Cr 74.1% | ₹81 Cr 30.6% | ₹62 Cr 1.6% | ₹63 Cr 11.3% | ₹71 Cr |
| Investing CF | ₹-17 Cr 160.7% | ₹28 Cr 136.4% | ₹-77 Cr 6.9% | ₹-72 Cr 125.0% | ₹-32 Cr 390.9% | ₹11 Cr 75.6% | ₹45 Cr 183.3% | ₹-54 Cr 350.0% | ₹-12 Cr 70.0% | ₹-40 Cr |
| Financing CF | ₹-103 Cr 24.8% | ₹-137 Cr 328.1% | ₹-32 Cr 3.2% | ₹-31 Cr 3.1% | ₹-32 Cr 22.0% | ₹-41 Cr 66.1% | ₹-121 Cr 3125.0% | ₹4 Cr 105.8% | ₹-69 Cr 72.5% | ₹-40 Cr |
| Net Cash Flow | ₹25 Cr 1350.0% | ₹-2 Cr 80.0% | ₹-10 Cr 42.9% | ₹-7 Cr 158.3% | ₹12 Cr 250.0% | ₹-8 Cr 260.0% | ₹5 Cr 58.3% | ₹12 Cr 170.6% | ₹-17 Cr 88.9% | ₹-9 Cr |
| Free Cash Flow | ₹133 Cr 33.0% | ₹100 Cr 11.1% | ₹90 Cr 1.1% | ₹91 Cr 23.0% | ₹74 Cr 335.3% | ₹17 Cr 79.0% | ₹81 Cr 28.6% | ₹63 Cr 5.0% | ₹60 Cr 1.6% | ₹61 Cr |
Values in ₹ Cr · Source: Screener.in
Key Ratios History
| Metric | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 35d 16.7% | 42d 23.5% | 34d 21.4% | 28d 51.7% | 58d 10.8% | 65d 71.1% | 38d 20.8% | 48d 29.7% | 37d 27.5% | 51d |
| Inventory Days | — | — | — | — | — | — | — | — | — | — |
| Days Payable | — | — | — | — | — | — | — | — | — | — |
| Cash Conv. Cycle | 35d 16.7% | 42d 23.5% | 34d 21.4% | 28d 51.7% | 58d 10.8% | 65d 71.1% | 38d 20.8% | 48d 29.7% | 37d 27.5% | 51d |
| Working Capital Days | -75d 23.0% | -61d 4.7% | -64d 16.4% | -55d 14.6% | -48d 2300.0% | -2d 95.5% | -44d 7.3% | -41d 8.9% | -45d 31.8% | -66d |
| ROCE | 23.0% 9.5% | 21.0% 5.0% | 20.0% 5.3% | 19.0% 26.7% | 15.0% 25.0% | 20.0% 13.0% | 23.0% 8.0% | 25.0% 3.8% | 26.0% 8.3% | 24.0% |
Source: Screener.in · Lower days = better efficiency
About ICRA Limited
ICRA Limited was set up in 1991 by leading financial/investment institutions, commercial banks and financial services companies as an independent and professional investment Information and Credit Rating Agency.[1] It is involved in rating, management consulting and outsourcing and information services etc.[2]
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