ICRA Limited

Financial Services · Capital Markets

NSE: ICRA BSE: 532835

₹4232.00

Sept. 30, 2026 · NSE · nse_bhavcopy

Peers in Capital Markets

The largest companies in the same industry by market cap. This company ranks #22 of 63. PE, ROE, 1Y return and scores come from the daily/weekly precomputed snapshot.

Company	Market cap (₹ Cr)	PE (TTM)	ROE	1Y return	Div. yield	Quality	Valuation	Momentum
ICICI Prudential Asset Management Company Limited	155,034	—	—	—	0.87%	—	0	75
Billionbrains Garage Ventures Limited	115,378	59.9	—	—	—	96	0	29
HDFC Asset Management Company Limited	97,763	—	31.0%	-58.9%	2.37%	100	0	11
Multi Commodity Exchange of India Limited	84,158	36.5	29.2%	-58.7%	—	94	2	35
Nippon Life India Asset Management Limited	68,405	—	32.8%	22.1%	2.01%	100	0	28
Motilal Oswal Financial Services Limited	59,853	—	14.5%	10.4%	0.60%	64	28	49
360 ONE WAM LIMITED	41,889	—	12.4%	-0.6%	—	41	35	28
Anand Rathi Wealth Limited	35,201	46.2	39.3%	-26.6%	0.61%	85	0	13
ICRA Limited (this stock)	4,084	30.9	15.4%	-32.8%	1.65%	76	34	7

Valuation multiples

Current only. Market cap is the whole company's; sales/EBITDA are trailing-twelve-month standalone; debt and cash come from the latest filed standalone balance sheet (March 31, 2026). EBITDA = PBT + interest + depreciation.

Enterprise value

₹4,073 Cr

EV / EBITDA

21.5x

EV / Sales

12.06x

Market cap / Sales

12.09x

Earnings yield

3.23%

Quarterly Financials

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Standalone Consolidated

↑ Positive

Quarterly Revenue

Jun 2026 quarterly revenue is Rs 100 Cr, up 6.0% YoY.

↑ Positive

Quarterly Net Profit

Jun 2026 quarterly net profit is Rs 35 Cr, up 16.4% YoY.

Period end	Revenue (₹ Cr)	PBT (₹ Cr)	Net profit (₹ Cr)	Basic EPS
June 30, 2026	82	48	35	₹36.4600
March 31, 2026	89	49	36	₹37.8200
Dec. 31, 2025	85	41	29	₹30.4100
Sept. 30, 2025	82	42	31	₹32.1100
June 30, 2025	72	40	30	₹31.3400
March 31, 2025	81	53	42	₹43.7100
Dec. 31, 2024	71	40	31	₹32.3300
Sept. 30, 2024	72	65	50	₹52.3200
June 30, 2024	63	31	25	₹25.6900
March 31, 2024	70	41	34	₹34.8900
Dec. 31, 2023	64	23	20	₹21.0100
Sept. 30, 2023	58	53	43	₹45.0600
June 30, 2023	58	30	26	₹27.0700

Quarterly income statement (standalone, ₹ Cr)

Indicator	Jun 26	Mar 26	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23
Total income (before exceptional items)	100	101	99	98	94	100	90	118	80	88	80	99	74
Operating revenue	82	89	85	82	72	81	71	72	63	70	64	58	58
Other income	18	12	14	16	22	20	20	46	17	18	16	41	16
Operating expenses	54	50	53	54	52	44	48	51	46	44	52	44	42
Operating profit	27	40	31	28	20	36	23	21	17	26	12	14	16
Operating profit margin	33.5%	44.4%	36.8%	34.5%	27.5%	44.8%	31.8%	29.4%	26.4%	37.0%	18.5%	23.8%	27.1%
Depreciation	2	2	2	2	2	2	2	2	2	2	2	2	2
Interest	0	0	0	0	0	0	0	0	0	0	3	0	0
Exceptional items, gain / (loss)	4	—	-2	—	—	—	—	—	—	—	—	—	—
Profit before tax	48	49	41	42	40	53	40	65	31	41	23	53	30
Tax	13	13	12	11	10	11	8	15	7	8	3	9	4
Net profit	35	36	29	31	30	42	31	50	25	34	20	43	26
EPS	36.46	37.82	30.41	32.11	31.34	43.71	32.33	52.32	25.69	34.89	21.01	45.06	27.07
Net profit (TTM)	132	127	132	134	154	148	140	129	122	123	114	117	90
EPS (TTM)	136.80	131.68	137.57	139.49	159.70	154.05	145.23	133.91	126.65	128.03	118.25	121.36	93.63

Total income excludes exceptional items, which are shown on their own row. Trendlyne and Screener fold exceptional items into revenue or other income, so their totals differ from this table by exactly that row.

Annual Financials

Year ended	Revenue (₹ Cr)	PBT (₹ Cr)	Net profit (₹ Cr)
March 31, 2026	328	171	127
March 31, 2025	287	189	148
March 31, 2024	251	147	123
March 31, 2023	223	117	96

Annual income statement (standalone, ₹ Cr; CAGR to the latest year)

Indicator	CAGR 3Y	CAGR 5Y	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20	Mar 19	Mar 18	Mar 17
Total income (before exceptional items)	10.7%	12.5%	393^†	389^†	342^†	290^†	240^†	218^†	248^†	275^†	273^†	245^†
Operating revenue	13.8%	12.6%	328	287	251	223	195^†	181^†	208^†	230^†	222^†	211^†
Other income	—	—	64^†	102^†	91^†	67^†	45^†	36^†	41^†	45^†	51^†	34^†
Operating expenses	—	—	209^†	190^†	184^†	164^†	140^†	139^†	149^†	141^†	124^†	—
Operating profit	26.7%	23.0%	119^†	97^†	68^†	58^†	55^†	42^†	59^†	89^†	98^†	—
Operating profit margin	—	—	36.2%^†	33.7%^†	26.9%^†	26.3%^†	28.1%^†	23.3%^†	28.3%^†	38.9%^†	44.0%^†	—
Depreciation	—	—	9^†	8^†	8^†	7^†	5^†	5^†	5^†	2^†	3^†	3^†
Interest	—	—	1^†	2^†	4^†	1^†	2^†	2^†	2^†	0^†	0^†	—
Exceptional items, gain / (loss)	—	—	-2^†	0^†	0^†	0^†	0^†	0^†	0^†	0^†	0^†	7^†
Profit before tax	13.5%	19.0%	171	189	147	117	93^†	72^†	92^†	131^†	146^†	119^†
Tax	—	—	45^†	41^†	24^†	21^†	20^†	19^†	27^†	35^†	46^†	36^†
Net profit	9.7%	19.1%	127	148	123	96	73^†	53^†	65^†	96^†	100^†	83^†
EPS	9.7%	19.1%	131.68^†	154.05^†	128.03^†	99.73^†	76.21^†	55.04^†	67.55^†	—	—	—

^† Derived: the sum of that fiscal year's four quarterly filings (a real annual filing is used wherever one exists). Checked against filed annual figures, the sum lands within 0.5% for about 94% of company-years.

Annual ratios (standalone)

Ratio	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20	Mar 19	Mar 18	Mar 17
Operating margin	36.2%^†	33.7%^†	26.9%^†	26.3%^†	28.1%^†	23.3%^†	28.3%^†	38.9%^†	44.0%^†	—
EBIT margin	52.5%^†	66.5%^†	59.9%^†	53.2%^†	48.7%^†	40.5%^†	45.2%^†	57.2%^†	65.7%^†	—
PBT margin	52.2%	65.9%	58.4%	52.6%	47.9%^†	39.5%^†	44.3%^†	57.0%^†	65.7%^†	56.5%^†
Net margin	38.6%	51.7%	49.0%	43.1%	37.6%^†	29.2%^†	31.3%^†	41.7%^†	45.2%^†	39.5%^†
Interest coverage	177.78x^†	110.86x^†	39.98x^†	88.27x^†	62.92x^†	42.41x^†	48.90x^†	282.62x^†	4216.09x^†	—
Dividend payout	45.6%^†	64.9%^†	31.2%^†	28.1%^†	35.4%^†	49.1%^†	44.4%^†	—	—	—
Earnings retention	54.4%^†	35.1%^†	68.8%^†	71.9%^†	64.6%^†	50.9%^†	55.6%^†	—	—	—
Current ratio	3.87x	6.23x	—	—	—	—	—	—	—	—
Quick ratio	3.87x	6.23x	—	—	—	—	—	—	—	—
Debt to equity	0.00x	0.00x	—	—	—	—	—	—	—	—
Return on equity	14.3%	18.4%	—	—	—	—	—	—	—	—
Return on assets	12.2%	15.6%	—	—	—	—	—	—	—	—
Return on capital employed	19.2%^†	23.3%^†	—	—	—	—	—	—	—	—
Asset turnover	0.32x	0.30x	—	—	—	—	—	—	—	—

Margins and asset turnover use operating revenue (interest earned for banks, excluding other income), not total income. Liquidity, leverage and return ratios need a filed standalone balance sheet, which exists only for recent years; returns use year-end equity/assets. Dividend payout is shown only for companies with a dividend record. † = built from a summed fiscal year.

Revenue Mix

Data unavailable.

Cash Flow

Year ended	Operating (₹ Cr)	Investing (₹ Cr)	Financing (₹ Cr)	Capex (₹ Cr)	Free Cash Flow (₹ Cr)
March 31, 2026	102	-33	-63	7	95
March 31, 2025	94	10	-101	6	87
March 31, 2024	57	71	-130	3	53
March 31, 2023	53	-24	-31	7	46

Balance Sheet (standalone)

Year ended	Total Assets (₹ Cr)	Total Equity (₹ Cr)	Reserves (₹ Cr)	Borrowings, Current (₹ Cr)	Borrowings, Non-current (₹ Cr)	Current Assets (₹ Cr)	Current Liabilities (₹ Cr)	Cash & Equivalents (₹ Cr)	Net Block (₹ Cr)	Inventory (₹ Cr)
March 31, 2026	1,038	885	875	0	0	544	140	11	18	0
March 31, 2025	953	804	795	0	0	831	133	5	20	0
March 31, 2024	—	—	—	—	—	—	—	—	—	—
March 31, 2023	—	—	—	—	—	—	—	—	—	—

Financial charts

Trend charts drawn from the standalone income-statement and ratio tables above (oldest year on the left); a gap means that period has no figure. Annual years marked † in the tables are derived from four quarters.