Skip to main content
Swing Capital

ICRA Ltd

NSE: ICRA BSE: 532835Finance

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]

₹5,395
52W: ₹4905 — ₹7135
PE 38.9 · Book ₹843 · +540% vs book
Market Cap₹5,207 Cr
Stock P/E38.9Price to Earnings
ROCE24.3%Return on Capital
ROE19.2%Return on Equity
Div. Yield1.12%Face Value ₹10

Strengths

  • +Company is almost debt free.
  • +Company has been maintaining a healthy dividend payout of 82.7%

Weaknesses

  • −The company has delivered a poor sales growth of 6.65% over past five years.
  • −Earnings include an other income of Rs.70.0 Cr.

Shareholding Pattern

Promoters51.86%
FIIs7.92%
DIIs24.51%
Public15.41%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters51.86%51.86%51.86%51.86%51.86%51.86%51.86%51.86%
FIIs8.59%8.77%▲0.29.06%▲0.38.78%▼0.38.66%▼0.16.87%▼1.87.25%▲0.47.92%▲0.7
DIIs23.6%24.09%▲0.523.92%▼0.224.17%▲0.324.38%▲0.226.15%▲1.825.55%▼0.624.51%▼1.0
Public15.62%14.94%▼0.714.82%▼0.114.86%▲0.014.78%▼0.114.82%▲0.015.06%▲0.215.41%▲0.3

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales58647063727181728285
Expenses44524446514844525453
Operating Profit14122617212336202831
OPM %24%19%37%26%29%32%45%27%35%37%
Net Profit43203425503142303129
EPS ₹44.9120.9334.7825.6152.1532.2243.5731.2432.0330.32

AI Insights

Revenue Trend

TTM revenue at ₹319Cr, up 11.1% YoY. OPM at 36%.

Debt Position

Borrowings at ₹11Cr. Debt-to-equity ratio: 0.01x. Healthy balance sheet.

Capex Cycle

CWIP at ₹1Cr (4% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 24.51% (+0.21pp change). FIIs: 7.92% (+0.21pp change). Promoters hold 51.86%.

Margin & Efficiency

ROCE improving from 20% (Mar 2014) to 24% (Mar 2025). Working capital days: -121.

Valuation

PE 38.9x with 24.3% ROCE. Price is 540% above book value of ₹843. Dividend yield: 1.12%.

Recent Announcements