MarketFriction

CARE Ratings Ltd

NSE CARERATING · BSE 534804 · Ratings
₹1,602.70 -0.87%
NSE close2026-10-01
52 week range1,392.70 - 1,838.00
Market cap₹4,948 Cr.
P/E27.8
IPO 2012 · +114% since Price band 20% Delivery 66.2%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales967990791179611094136112131112
Expenses555561576266626668727077
Operating Profit422329225630472868406135
OPM %43%30%32%28%47%32%43%30%50%36%46%31%
Other Income111410121212151413131615
Interest000001111111
Depreciation333333333444
Profit before tax503436306439593777497245
Tax %29%30%32%30%27%27%26%29%26%25%26%27%
Net Profit362425214728432657375333
EPS in Rs11.817.888.076.9415.419.2914.248.6118.8911.9617.5810.73
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales279287333319244248248279332402473491
Expenses105105122144162153168180220247276287
Operating Profit17418221117581968099112155197204
OPM %62%63%63%55%33%39%32%36%34%39%42%42%
Other Income93425303131273847515556
Interest000011012222
Depreciation43338881110121415
Profit before tax17821223320210411999126147192235243
Tax %33%31%30%32%20%23%22%32%30%27%26%
Net Profit12014816213883917785103140174180
EPS in Rs40.6850.1355.1346.6627.9630.3925.3428.1233.6745.8556.9759.16
Dividend Payout %69%56%100%64%70%56%67%89%53%39%39%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth5%14%19%18%
Compounded Profit Growth4%14%27%25%
Stock Price CAGR2%20%23%6%
Return on Equity19%16%18%20%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital292929292929293030303030
Reserves330379491567521504559618643687776902
Borrowings0000007917202426
Other Liabilities879464616485746980105128146
Total Liabilities4465025846586146186717257708429581,105
Fixed Assets6564616083938596107109119122
CWIP000001384635
Investments33538146651843933924044444413487
Other Assets4658577993185343577614683702890
Total Assets4465025846586146186717257708429581,105
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity1071061191341096786688291123148
Cash from Investing Activity157-41-22-258327-38-2713-39-58-94
Cash from Financing Activity-276-66-96-99-195-107-43-35-63-63-54-59
Net Cash Flow-12-1111-4-135632-1111-6
Free Cash Flow96104118131826382497182108140
CFO/OP104%95%101%95%98%125%114%122%115%119%112%107%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days223132435461312527252927
Inventory Days
Days Payable
Cash Conversion Cycle223132435461312527252927
Working Capital Days-82-65-10-11314-3635638591451316
ROCE %39%46%44%41%35%19%21%16%19%21%25%26%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
FIIs20.90%21.67%22.91%23.37%24.79%24.75%23.75%24.62%23.61%23.00%23.25%23.41%
DIIs23.72%26.32%26.89%26.15%25.28%27.50%29.38%29.76%31.60%31.30%31.38%31.58%
Public55.38%51.99%50.20%50.47%49.92%47.74%46.87%45.61%44.79%45.70%45.37%45.01%
No. of Shareholders55,72154,53952,46853,14053,60252,00751,39561,11156,93159,13958,97858,466

Fundamentals

Market Cap₹ 4,948 Cr.
Current Price₹ 1,638
Stock P/E27.8
Book Value₹ 310
ROCE26.3 %
ROE19.7 %
Dividend Yield1.34 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)18%
Compounded Profit Growth (TTM)25%
Consolidated figures.
Valuation
Market capRs 4,816 Cr
Enterprise valueRs 4,713 Cr
P/E (TTM)27.11x
Price to book5.16x
Price to sales9.81x
EV / EBITDA18.11x
EV / EBIT19.21x
EV / sales9.60x
Price to cash flow32.63x
Earnings yield3.69%
Dividend yield1.37%
P/E, 3-year average27.60x
P/B, 3-year average4.48x
P/E, 5-year average25.16x
P/B, 5-year average3.72x
Profitability
Operating margin (excl. other income)41.73%
Operating margin (incl. other income)53.32%
EBITDA margin53.01%
Pre-tax margin49.48%
Net profit margin36.20%
Net margin, latest quarter28.89%
ROE19.69%
ROCE26.60%
ROA16.60%
ROE, 3-year average17.39%
ROCE, 3-year average24.07%
ROA, 3-year average14.78%
ROE, 5-year average15.40%
ROCE, 5-year average21.37%
ROA, 5-year average13.25%
ROIC (approx.)21.83%
Tax rate26.20%
Other income / net worth5.88%
Growth
Sales growth (latest year)17.59%
Profit growth (latest year)24.73%
Sales CAGR, 3 years19.25%
Sales CAGR, 5 years13.75%
Profit CAGR, 3 years27.02%
Profit CAGR, 5 years13.84%
Sales growth QoQ-14.53%
Profit growth QoQ-38.94%
Sales growth YoY (latest quarter)18.92%
Profit growth YoY (latest quarter)25.14%
Per share
EPS (TTM)Rs 59.13
EPS (latest year)Rs 56.97
EPS (latest quarter)Rs 10.74
EPS, 3-year averageRs 45.50
EPS, 5-year averageRs 37.99
Book value per shareRs 310.33
Sales per shareRs 163.36
Cash flow per shareRs 49.11
Free cash flow per shareRs 46.59
Dividend per share (latest year)Rs 22.00
Dividend per share, 3-year averageRs 19.33
Dividend per share, 5-year averageRs 20.00
Dividends
Dividend payout38.62%
Dividend payout, 3-year average43.77%
Dividend payout, 5-year average57.46%
Efficiency
Asset turnover0.43x
Fixed asset turnover3.87x
Debtor days27 days
Debtors turnover13.50x
Cash conversion cycle27 days
Working capital days316 days
Leverage
Total debtRs 26 Cr
Cash and bankRs 129 Cr
Net debtRs -103 Cr
Debt to equity0.03x
Net debt / EBITDA-0.40x
Interest coverage98.54x
Current ratio (filing 2026-03-31)5.76x
Quick ratio (filing 2026-03-31)5.76x
Trade payables (filing 2026-03-31)Rs 15 Cr
Owners' fund to total sources84.42%
Debt to assets2.37%
Cash flow
Cash from Operating Activity (latest year)Rs 148 Cr
Cash from Investing Activity (latest year)Rs -94 Cr
Cash from Financing Activity (latest year)Rs -59 Cr
Net Cash Flow (latest year)Rs -6 Cr
Free cash flow (latest year)Rs 140 Cr
FCFE (approx.: FCF + change in debt)Rs 142 Cr
Cash from ops / profit, 5 years0.88x
Sales to cash flow3.21x
Statement figures
Net sales (TTM)Rs 491 Cr
Net sales (latest year)Rs 473 Cr
Sales (latest quarter)Rs 112 Cr
Operating profit excl. other income (latest year)Rs 197 Cr
Operating profit (latest quarter)Rs 35 Cr
Other income (TTM)Rs 56 Cr
EBITDA (TTM)Rs 260 Cr
PBDT (TTM)Rs 258 Cr
Profit before tax (TTM)Rs 243 Cr
Tax (latest year)Rs 62 Cr
Net profit (TTM)Rs 178 Cr
Net profit (latest year)Rs 171 Cr
Net profit (latest quarter)Rs 32 Cr
Depreciation (TTM)Rs 15 Cr
Depreciation (latest quarter)Rs 4 Cr
Interest (TTM)Rs 2 Cr
Cost of goods sold (latest year)Rs 5 Cr
Total expenditure (latest year)Rs 276 Cr
Total income (latest year)Rs 528 Cr
Share capitalRs 30 Cr
ReservesRs 902 Cr
Shareholders' fundsRs 932 Cr
Total assetsRs 1,105 Cr
Net blockRs 122 Cr
Capital work in progressRs 5 Cr
InvestmentsRs 87 Cr
ReceivablesRs 35 Cr
Other liabilitiesRs 146 Cr
Shares outstanding (crore)3.00
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 27.1 is at the 58th percentile of its own 9.4-year range (median 24.6, low 7.2, high 45.4).
P/B 5.16 is at the 64th percentile (median 4.25).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodCARERATINGNifty 50Difference
1 week-0.9%-2.8% +1.9 pts
1 month-6.0%-6.8% +0.8 pts
3 months-2.6%-7.6% +5.0 pts
6 months+10.6%+0.4% +10.2 pts
1 year+2.4%-9.9% +12.3 pts
2 years+56.4%-13.6% +70.0 pts
3 years+82.8%+14.2% +68.6 pts
5 years+138.7%+27.9% +110.8 pts
35 mutual fund schemes hold about ₹1,038 Cr. Over three months 20 bought more and 7 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Nippon India Small Cap Fund0.31%255 +2%
SBI Banking & Financial Services Fund0.89%97 +7%
Nippon India Multi Cap Fund0.17%94 -26%
ICICI Pru Small Cap Fund0.65%64 -6%
ICICI Pru Small Cap Fund0.65%62 -6%
WOC Flexi Cap Fund0.58%53 +5%
ICICI Pru Business Cycle Fund0.25%40 +9%
Mirae Asset Small Cap Fund0.69%39 -5%
WOC Mid Cap Fund0.51%38 +8%
ICICI Pru Banking & Fin Serv Fund0.28%31 +9%
ICICI Pru Banking & Fin Serv Fund0.28%31 +9%
Mirae Asset Banking and Financial Services Fund1.28%30 +5%
WOC Multi Cap Fund0.69%29 +10%
Invesco India Financial Services Fund1.50%28 +100%
WOC Special Opp Fund1.36%26 +34%
ICICI Pru Children's Fund1.45%21 +16%
iSIF Equity Ex-Top 100 Long-Short Fund0.55%14 -10%
Mirae Asset Multi Asset Allocation Fund0.33%12 +1%
WOC Multi Asset Allocation Fund0.13%11 -5%
HSBC Financial Services Fund1.14%11 +3%
Unifi Flexi Cap Fund3.44%8 +48%
WOC Quality Equity Fund1.18%7 +8%
WOC Balanced Advantage Fund0.30%7 +3%
JM Value Fund0.83%7 +8%
WOC Banking & Financial Services Fund0.89%6 +32%

Red flags

F-score 7 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹112 Cr +19.1% vs Jun 2025. Net profit ₹33 Cr +26.9%.
Against our estimate for Jun 2026: sales +1.1%, profit -19.0% miss. Our estimate for Sep 2026: sales Rs 162 Cr, profit Rs 60 Cr (how).

Activity

Compare
CompanyMcap (Cr)P/EROCE
ICRA Ltd4,14821.123.0 %
No bulk or block deals on record.
Ex-dateActionFactor
2026-06-25Dividend - Rs 14 Per Share
2025-11-19Interim Dividend - Rs 8 Per Share
2025-06-27Dividend - Rs 11 Per Share
2024-11-05Interim Dividend - Rs 7 Per Share
2024-06-21Dividend - Rs 11 Per Share
2023-11-10Interim Dividend - Rs 7 Per Share
2023-07-07Dividend - Rs 7 Per Share /Special Dividend - Rs 8 Per Share
2023-02-10Interim Dividend - Rs 10 Per Share
2022-09-13Dividend - Rs 10 Per Share
2022-09-13Buy Back
2021-11-11 Interim Dividend - Rs 7 Per Share
2021-09-06 Annual General Meeting/Dividend - Rs 6 Per Share
2021-02-17 Interim Dividend - Rs 3 Per Share
2020-11-18 Interim Dividend - Rs 8 Per Share
2020-08-31 Annual General Meeting/Dividend - Rs 2.50 Per Share
2020-02-20 Interim Dividend - Rs 6 Per Share
2019-11-19 Interim Dividend - Rs 8 Per Share
2019-09-19 Annual General Meeting/Dividend - Rs 12 Per Share
2019-08-19 Interim Dividend - Rs 3 Per Share
2019-02-21 Interim Dividend - Rs 6 Per Share
2018-11-15 Interim Dividend - Rs 6 Per Share
2018-09-18 Annual General Meeting/ Final Dividend-Rs 12 Per Share/ Special Dividend- Rs 25 Per Share
2018-08-24 Interim Dividend- Rs 6.00 Per Share
2018-02-09 Interim Dividend Rs 6/- Per Share
2017-11-28 Interim Dividend - Rs 6/- Per Share
2017-09-05 Interim Dividend - Rs 6/- Per Share
2017-07-24 Annual General Meeting/ Dividend - Rs 10/- Per Share
2017-02-14 Interim Dividend Rs 6/- Per Share
2016-11-17 Interim Dividend Rs 6/- Per Share
2016-09-19 Annual General Meeting/Dividend - Rs 10/- Per Share
2016-08-18 Interim Dividend - Rs 6/- Per Share
2016-02-10 Interim Dividend Rs 6/- Per Share
2015-11-16 Interim Dividend Rs 6/- Per Share
2015-09-21 Annual General Meeting/ Dividend - Rs 8/- Per Share
2015-07-29First Interim Dividend - Rs 6/- Per Share
2014-09-24Annual General Meeting/Final Dividend Rs.10/- Per Share And Special Dividend Rs.65/- Per Share (Purpose Revised)
2014-08-13First Interim Dividend - Rs 6/- Per Share
2014-01-30Third Interim Dividend - Rs 6/- Per Share
2013-11-26Second Interim Dividend - Rs 6/- Per Share
2013-09-24Annual General Meeting And Dividend Rs.8/- Per Share
2013-08-22Interim Dividend Rs.6/- Per Share
2013-03-07Interim Dividend Rs 12 Per Share
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2021-04-05NCLATCare Ratings Ltd & Anr VS Srei Equipment Finance Ltd & Anr
2021-03-02NCLATCare Ratings Ltd & Anr VS Srei Equipment Finance Ltd & Anr
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of CARE Ratings Ltd?

CARE Ratings Ltd (CARERATING) has a market capitalisation of Rs 4,948 Cr. at the 2026-10-01 close.

What is the P/E ratio of CARE Ratings Ltd?

CARE Ratings Ltd trades at a P/E of 27.8 on trailing twelve-month profit, at the 2026-10-01 close.

What were CARE Ratings Ltd's latest quarterly results?

In the Jun 2026 quarter, CARE Ratings Ltd sales was Rs 112 Cr (+19.1% vs Jun 2025) and net profit was Rs 33 Cr.

What is the 52-week high and low of CARE Ratings Ltd?

The 52-week high is Rs 1,838.00 and the 52-week low is Rs 1,392.70.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03