ICRA · Icra Ltd · Business Services
ICRA · Icra Ltd · Business Services
As of 05 Nov close
52-week range
31.7% below 52-week high
52-week range: as of 05 Nov 2026 close.
Price chartDaily closes on the stock page.
Weighted combination of 8 measured readings. Not a probability, a rating or a forecast.
Full signal detail →Fundamentals as of 15 Sep 2026 · the company's own latest record is 52 days old
Revenue (latest Q)
₹163 Cr
Revenue YoY
PAT YoY
+32.3%
Operating margin
Revenue, last 8 quarters
P/E (TTM)
P/B
4.9
P/S (TTM)
7.1
Sector P/E
14.4
Dividend yield
+1.5%
| Company | P/E | P/B | Net margin | ROE | D/E | Div. yield |
|---|---|---|---|---|---|---|
| ICRA (this stock) | 25.7 | 4.9 | +30.6% | +16.5% | 0.02 | +1.5% |
| Swiggy | Not available from data source | 4.4 | -15.1% | -20.5% | 0.14 | 0.0% |
| Delhivery | 374.4 | 4.4 | +0.8% | +1.0% | 0.15 | 0.0% |
| Urban Company | Not available from data source | 11.5 | -19.4% | -15.6% | 0.06 | 0.0% |
Promoter
stable
FII
falling 1q
MF
20.48% (+0.64pp)
rising 1q
Insider trades
| Date | Insider | Type | Qty | Value |
|---|---|---|---|---|
| 09 Sept 2026 | Adivam Family Trust | SELL | 500 | ₹23.64 lakh |
| 01 Sept 2026 | Amit Gupta | BUY | 346 | ₹17.39 lakh |
| 31 Aug 2026 | Venkatesh Viswanathan | BUY | 206 | ₹10.06 lakh |
| 17 Aug 2026 | Aditi Nayar | BUY | 185 | ₹9.45 lakh |
| 10 Aug 2026 | K.Ravichandran | BUY | 400 | ₹20.55 lakh |
| 17 Jun 2026 | Amit Gupta | BUY | 260 | ₹13.47 lakh |
Bulk/block deals
No bulk/block deals in the last 12 months.
News timeline
- loweconomictimes.indiatimes.com· 29 Oct 2026, 03:21 pmGold ETF AUM stands at Rs 1.86 lakh crore despite recent correction; Top 5 schemes account for 80%: ICRA Analytics
- mediummacroeconomictimes.indiatimes.com· 28 Oct 2026, 11:49 pmIIP growth eases to 4-month low in September as mining output contracts
- loweconomictimes.indiatimes.com· 22 Oct 2026, 01:09 amCore output grows at series high of 7.9% in Sept
- loweconomictimes.indiatimes.com· 12 Oct 2026, 12:25 pmCan Fin Homes shares rally up to 5% after Q2 net profit jumps 10% to Rs 275 crore, NII rises 7%
- loweconomictimes.indiatimes.com· 05 Oct 2026, 12:41 pmAvenue Supermarts shares fall 4% despite 18% YoY revenue growth in Q2 update
- unknownbusiness-standard.com· 30 Sept 2026, 08:50 pmHigher capex, subsidies widen Apr-Aug fiscal deficit to ₹7.1 trillion
- mediummacroeconomictimes.indiatimes.com· 22 Sept 2026, 12:43 amAugust core sector growth hits 3-month low as energy sectors lose steam
- lowthehindubusinessline.com· 04 Sept 2026, 06:50 pmState-Specific Indices: Taking competitive federalism to the markets
- unknownbusiness-standard.com· 01 Sept 2026, 10:18 pmBattle for beds: Private hospital capacity rises, but demand keeps pace
- mediummacrobusiness-standard.com· 25 Aug 2026, 12:10 amWeak rains, services likely eased Q1 economic growth to 4-quarter low
- lowbusiness-standard.com· 20 Aug 2026, 12:15 amSMBC investment strengthens Yes Bank's institutional positioning: Lender
- lowbusiness-standard.com· 18 Aug 2026, 11:16 amGroww share price slips 4% on huge volumes on BSE
- mediumsector policyeconomictimes.indiatimes.com· 05 Aug 2026, 10:00 amCautious optimism in India's hospitality and travel sector amid West Asia crisis
- loweconomictimes.indiatimes.com· 04 Aug 2026, 01:00 pmEpack Prefab Technologies shares rally 10% after Q1 revenue jumps 24%
- loweconomictimes.indiatimes.com· 31 Jul 2026, 09:01 amICRA Q1 Results: Profit rises 32% YoY to Rs 56 crore
Concalls & investor presentations
AI-generatedKey takeaway: ICRA Limited held its earnings call on May 25, 2026, to discuss its Q4 and FY26 results. Management reported a consolidated revenue increase of 28.4% year-on-year for Q4, driven by a 56.8% rise in the Research and Analytics segment, attributed to the acquisition of Fintellix. The Ratings business also grew by 10.6% year-on-year. For FY26, overall revenue increased by 20.4%, with the Ratings segment growing by 14.2% and Research and Analytics by 29.8%. Management noted a shift in business mix due to automation trends, impacting margins. ICRA celebrated its 35th anniversary and proposed a dividend of INR 105 per share. The company highlighted ongoing investments in AI and a focus on regulatory compliance solutions. Management acknowledged potential headwinds from geopolitical issues and projected GDP growth moderation for FY27. The call included a Q&A session addressing various operational and strategic inquiries from analysts.
Management highlighted strong financial performance while acknowledging potential challenges ahead.
Sourced from an exchange-filed transcript, dated 29 May 2026. Summary is RedixFi-generated and distinct from investment advice.
Key takeaway: ICRA Limited's investor presentation for Q4 and FY2026 highlighted significant achievements, including a 20.4% increase in revenue from operations, reaching ₹599.5 crore, and a 10.0% rise in profit before tax (PBT) to ₹257.4 crore. The presentation noted the successful acquisition of Fintellix, which enhanced the company's risk analytics and regulatory capabilities. ICRA celebrated its 35th anniversary and received the ICSI CSR Excellence Award for its impactful corporate social responsibility initiatives. The document also discussed macroeconomic projections, indicating a GDP growth of 7.5% for FY2026, while acknowledging potential risks from geopolitical tensions and inflation. Management emphasized the strong performance in ratings and research segments, driven by increased demand for analytics and regulatory solutions. The presentation concluded with a focus on ICRA's commitment to sustainability and community impact through various CSR initiatives.
Management emphasized strong financial performance and significant milestones.
Sourced from an exchange-filed presentation, dated 22 May 2026. Summary is RedixFi-generated and distinct from investment advice.
AI Summary of Annual Report
AI-generatedICRA Limited reported a 20% increase in revenue to ₹59,951 lakhs in FY2025-26, with profit after tax rising to ₹18,253 lakhs. The company maintains robust internal controls and has no material risks affecting continuity. Litigations are pending but not material, and no regulatory actions or defaults were noted. The Board approved strategic expansions, including the acquisition of Fintellix, enhancing digital capabilities and ESG initiatives.
- Revenue grew by 20% to ₹59,951 lakhs, with profit after tax at ₹18,253 lakhs.
- No material risks identified; internal controls are adequate.
- Pending litigations are sub judice but not material.
- Acquired Fintellix to enhance digital transformation and analytics.
- No defaults under Insolvency and Bankruptcy Code, 2016.
Key takeaway: ICRA Limited delivered strong financial performance with growth in revenue and profit, no material risks, and strategic expansions enhancing its market position.
The following annual report excerpts provide qualitative strategic context. Do not treat any specific financial figures in these excerpts as authoritative — they may be incorrectly labeled due to PDF table extraction limitations. For precise financial data, refer to the structured fundamentals data above.
Governance disclosures
AI-generatedNeeds attention
Regulatory Action (4 items); Default / Covenant Breach (2 items)
Items of these kinds are disclosed in the filings. This is a count of disclosed items. It is not a finding about the company and its cause has not been independently established.
Regulatory Action
4 occurrencesRecent (last 12 months)
SEBI increased the penalty amount from ₹ 25 lakhs to ₹ 1 crore in September 2020 regarding an adjudication proceeding related to credit ratings assigned to one of the Company’s customer and the customer’s subsidiaries. The Company deposited the enhanced penalty under protest and filed an appeal with the Securities Appellate Tribunal, which is under review.
Earlier (1-3 years ago)
SEBI increased the penalty amount to 1 crore in relation to credit ratings assigned to one of the Company’s customer and the customer’s subsidiaries. The Company deposited the enhanced penalty under protest and filed an appeal with the Securities Appellate Tribunal.
Older (3+ years ago)
The company has pending litigation against it, and has been fined INR 25 lakh by SEBI for an issue related to credit ratings assigned to one of its customers and the customer's subsidiaries. The company has filed an appeal against this penalty and also against a subsequent enhancement of the penalty to INR 1 crore by SEBI, depositing INR 75 lakh as additional penalty.
SEBI increased the penalty amount to Rs. 1 Crore for an adjudication proceeding related to credit ratings assigned to one of the Company’s customer and the customer’s subsidiaries. The Company deposited the penalty under protest and filed an appeal with the Securities Appellate Tribunal.
Default / Covenant Breach
2 occurrencesOlder (3+ years ago)
The company has undisputed statutory dues in arrears for more than six months as of March 31, 2023, including income tax for fiscal years 2000-2001 to 2009-2010, with disputes pending before the Assessing Officer.
The company has outstanding dues to suppliers, including micro and small enterprises, with amounts not specified but noted as not outstanding for more than 45 days as of March 31, 2022.
Routine disclosures
Contingent Liability
4 occurrencesRecent (last 12 months)
The Group estimates provisions with present obligations resulting from past events, indicating contingent liabilities.
Earlier (1-3 years ago)
The company has contingent liabilities related to income tax and goods and services tax claims, which are being contested. The management believes the outcome will not have a material adverse effect.
Older (3+ years ago)
ICRA Limited has a contingent liability of Rs 35.69 lakhs related to service tax claims, which is being contested by the company. The management believes the outcome will not have a material adverse effect.
The company is contesting a demand and has a contingent liability related to income tax and others, as of March 31, 2022.
Related-Party Transaction
3 occurrencesRecent (last 12 months)
The company has material related-party transactions with Moody’s entities through its unlisted subsidiary ICRA Analytics, exceeding 10% of the previous year's consolidated turnover, though conducted on an arm's length basis.
Older (3+ years ago)
The company is approving material related party transactions and modifying earlier resolutions regarding remuneration limits for directors and the Managing Director & CEO, with specific references to Section 197 and 198 of the Act.
The company has a material related party transaction with Moody's Corporation and its affiliates through its subsidiary ICRA Analytics Limited, effective April 1, 2022, which was approved by members via postal ballot on March 26, 2022.
Statutory dues in dispute
2 occurrencesRecent (last 12 months)
The company has not deposited statutory dues under the Income Tax Act and Central Goods and Services Tax Act for various fiscal years, with disputes pending before Assessing Officers and the Commissioner of Income Tax (Appeals). The amounts are specified in lakhs, but exact figures are not provided in the excerpt.
Earlier (1-3 years ago)
The company has undisputed statutory dues under various taxes and statutory obligations that have not been deposited as of March 31, 2025, with disputes pending before the Assessing Officer and Income Tax Appellate Tribunal for fiscal years 2002-03 to 2016-17.
Promoter Share Pledge
1 occurrenceRecent (last 12 months)
1.59% of promoter holding pledged (quarter 2026-Q3 as of 2026-07-18).