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ICRA Limited

ICRA Limited

ICRA.BO
ICRA LimitedIN flagBombay Stock Exchange
5,292.55
INR
+29.25
- -
50.60BMarket Cap
ICRA Limited
ICRA.BO
(Bombay Stock Exchange)

Recent

price

5,292.55

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
193.03
207.46
251.41
282.16
327.36
345.63
336.54
309.71
328.76
326.31
310.27
353.39
416.45
461.81
517.71
623.01
527.76
Revenue per Share
48.08
54.01
59.16
68.93
66.77
77.56
89.95
102.39
108.03
99.98
84.89
116.74
140.59
157.07
176.73
188.63
183.92
Basic EPS, GAAP
43
35.1
18.65
62.45
63.52
61.87
58.93
59.21
78.03
17.94
75.75
95.06
93.74
104.08
137.72
150.44
- -
Free Cash Flow per Basic Share
19.85
20.21
23.24
22
23.46
24.41
24.97
27.15
30.46
30.21
27.33
27.5
29
131.35
101.31
61.07
- -
Dividend per Share
257.75
122.33
149.71
185.85
221.1
332.94
390.97
462.38
539.53
611.06
669.38
759.11
871.7
898.67
975.32
10.03
- -
Book Value per Share
255.06
289.27
298.63
341.14
389.94
501.72
553.83
665.27
655.59
727.9
784.94
873.17
983.86
966.14
1,044.67
951.92
- -
Tangible Book Value per Share
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
Basic Weighted Avg Shares
1,930
2,075
2,514
2,822
3,209
3,398
3,314
3,046
3,208
3,139
2,985
3,399
4,006
4,442
4,980
5,995
5,077
Sales/Revenue/Turnover
31.78
28.29
24.17
28.58
30.74
29.48
31.08
36.8
34.77
27.83
24.41
33.21
33.29
31.44
32.4
31.15
32.61
Operating Margin (%)
120
47
48
60
97
96
85
75
56
103
95
78
98
135
164
283
168
Depreciation Expense
481
540
592
689
654
762
886
1,007
1,054
962
817
1,123
1,352
1,511
1,700
1,815
1,769
Net Income, GAAP
35
31.97
18.37
29.6
34.7
33.92
31.6
35.47
30.32
26.04
26.18
25.35
24.55
23.83
26.83
27.12
27.36
Effective Tax Rate (%)
24.91
26.03
23.53
24.43
20.4
22.44
26.73
33.06
32.86
30.64
27.36
33.03
33.76
34.01
34.14
30.28
34.85
Profit Margin (%)
252
623
706
2,178
1,717
2,182
3,391
2,949
4,451
6,051
3,789
3,205
4,337
5,046
9,510
6,843
- -
Working Capital
- -
- -
- -
158
96
- -
- -
- -
- -
173
137
112
100
86
82
105
- -
LT Debt
2,571
3,015
3,438
3,884
4,294
5,422
5,499
6,564
6,426
7,042
7,610
8,477
9,549
9,810
10,577
11,851
- -
Total Equity
16.66
14.34
15.53
15.38
15.41
13.55
13.01
12.12
12.06
9.47
7.17
10.31
11.04
10.9
11.48
11.95
- -
Return on Invested Capital (%)
20.04
28.5
43.04
38.94
30.96
27.51
24.76
23.82
21.32
16.96
12.88
15.89
16.8
18.17
18.76
37.18
560.05
Return on Capital (%)
20.03
28.42
43.49
41.08
32.51
28.03
24.87
23.98
21.48
17.26
13.26
16.34
17.24
17.74
18.86
38.3
- -
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'25
Mar'25
Jun'26
ST Debt
- -
49
- -
LT Borrowings
- -
6
- -
LT Finance Leases
- -
76
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
- -
10
- -
Market Capitalization
61,765
53,132
65,164

Working Capital

FRC

•

in mil. unless spec.
Dec'25
Mar'25
Jun'26
Total Current Assets
- -
11,281
- -
Cash, Cash Equivalents & STI
- -
10,510
- -
Accounts Receivable, Net
- -
476
- -
Inventories
- -
- -
- -
Total Current Liabilities
- -
1,771
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
49
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
8.3%
9.33%
12.05%
Free Cash Flow
34.81%
15.34%
9.27%
Net Income, GAAP
9.96%
17.79%
6.77%
Sales/Revenue/Turnover
6.28%
15.03%
20.38%
Total Cash Common Dividend
30.71%
59.3%
-39.7%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,027
1,049
1,146
1,221
4,442
2025
1,148
1,261
1,209
1,362
4,980
2026
1,245
1,636
1,749
- -
5,995

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
41.9
33.03
33.42
- -
157.07
2025
36.92
38.18
43.69
57.94
176.73
2026
44.11
40.34
54.5
- -
188.63

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
131.35
2025
- -
- -
- -
- -
101.31
2026
- -
- -
- -
- -
61.07
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Business
ICRA Limited (ICRA.BO), founded in 1991 and headquartered in Gurugram, India, operates as an independent credit rating agency providing investment information, forward-looking credit opinions, and analytics solutions; its core offerings encompass credit ratings for rupee-denominated debt instruments issued by manufacturing companies, commercial banks, non-banking finance companies, financial institutions, public sector undertakings, and municipalities; research reports including credit perspective reports and sector-specific analyses; risk management frameworks and software solutions such as early warning systems, asset classification tools, and fixed income valuation platforms; mutual fund research and portfolio tracking tools powered by proprietary databases; knowledge services across banking, financial services, corporates, insurance, utilities, and healthcare; ESG ratings through its wholly-owned subsidiary ICRA ESG Ratings Limited; and customised data analytics and consulting. The ICRA Group, majority-owned by Moody's Corporation with a 51.86% stake as of December 2024, extends operations internationally through subsidiaries including ICRA Analytics Limited for digital platforms in risk management and market data, ICRA Nepal Limited as Nepal's first credit rating agency, ICRA Lanka Limited in Sri Lanka, and recently acquired entities Fintellix India Private Limited for data, risk, and regulatory solutions acquired for INR 225-246 crores in 2025, and a majority stake in D2K Technologies India Pvt Ltd by ICRA Analytics for digital transformation products serving banks and NBFCs. ICRA shares trade on the Bombay Stock Exchange and National Stock Exchange, serving institutional investors, lenders, borrowers, issuers, and regulators primarily in India with select presence in South Asia.