ICRA Ltd (ICRA) share price, results

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 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales	105	115	124	115	126	121	136	124	137	164	175	163
Expenses	71	84	74	80	85	79	77	85	88	106	105	108
Operating Profit	34	30	50	35	41	42	59	40	49	57	70	55
OPM %	32%	26%	40%	31%	33%	35%	43%	32%	36%	35%	40%	34%
Other Income	16	17	24	18	20	19	21	24	21	9	14	32
Interest	0	3	7	2	0	1	1	2	1	1	1	0
Depreciation	3	4	4	4	4	4	4	4	4	10	10	11
Profit before tax	47	41	62	47	57	56	74	58	64	55	73	76
Tax %	32%	20%	24%	24%	35%	24%	24%	27%	25%	29%	28%	26%
Net Profit	32	32	47	36	37	42	56	43	48	39	53	56
EPS in Rs	32.92	33.31	48.56	36.80	38.05	43.55	57.75	43.97	49.54	40.22	54.35	58.19

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	341	333	309	328	321	301	343	403	446	498	600	638
Expenses	240	231	194	215	225	220	222	260	297	320	384	408
Operating Profit	101	102	115	113	96	81	121	143	149	178	215	230
OPM %	30%	31%	37%	34%	30%	27%	35%	35%	33%	36%	36%	36%
Other Income	27	39	49	45	48	43	41	50	75	77	68	76
Interest	1	0	0	0	2	2	2	1	10	5	4	3
Depreciation	10	9	8	6	10	10	8	10	13	16	28	35
Profit before tax	118	132	157	152	131	112	152	181	200	234	250	268
Tax %	35%	33%	35%	30%	26%	26%	25%	25%	24%	27%	27%
Net Profit	76	89	101	106	97	83	114	137	152	171	183	196
EPS in Rs	76.24	89.29	101.68	109.21	99.66	84.61	116.35	140.13	156.55	176.15	188.08	202.30
Dividend Payout %	33%	30%	29%	27%	27%	32%	24%	93%	64%	34%	56%

	10 Years	5 Years	3 Years	TTM	1 Year	Last Year
Compounded Sales Growth	6%	15%	14%	26%
Compounded Profit Growth	10%	18%	11%	11%
Stock Price CAGR	1%	4%	-8%		-33%
Return on Equity	15%	16%	16%			17%

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	10	10	10	10	10	10	10	10	10	10	10	10
Reserves	419	466	539	645	631	692	748	834	941	967	1,044	1,171
Borrowings	10	0	0	0	0	0	17	14	13	13	13	18
Other Liabilities	144	151	111	116	128	144	121	121	138	195	225	282
Total Liabilities	583	627	660	771	769	846	896	978	1,101	1,184	1,292	1,481
Fixed Assets	91	92	37	36	34	54	46	46	47	91	90	313
CWIP	0	1	1	0	1	2	3	2	1	1	4	2
Investments	257	185	311	338	182	104	177	454	689	813	773	730
Other Assets	234	350	312	396	552	685	669	478	364	278	426	436
Total Assets	583	627	660	771	769	846	896	978	1,101	1,184	1,292	1,481

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity	67	71	63	62	81	21	76	97	99	107	145	157
Cash from Investing Activity	-31	-40	-12	-54	45	11	-32	-72	-77	28	-17	-95
Cash from Financing Activity	-29	-40	-69	4	-121	-41	-32	-31	-32	-137	-103	-67
Net Cash Flow	7	-9	-17	12	5	-8	12	-7	-10	-2	25	-5
Free Cash Flow	63	61	60	63	81	17	74	91	90	100	133	145
CFO/OP	141%	114%	104%	98%	109%	59%	131%	114%	103%	106%	113%	103%

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	61	51	37	48	38	65	58	28	34	42	35	48
Inventory Days
Days Payable
Cash Conversion Cycle	61	51	37	48	38	65	58	28	34	42	35	48
Working Capital Days	-64	-66	-45	-41	-44	-2	-48	-55	-64	-61	-74	-52
ROCE %	21%	24%	26%	25%	23%	20%	15%	19%	20%	21%	23%	23%

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	51.86%	51.86%	51.86%	51.86%	51.86%	51.86%	51.86%	51.86%	51.86%	51.86%	51.86%	51.86%
FIIs	8.15%	8.22%	8.42%	8.59%	8.77%	9.06%	8.78%	8.66%	6.87%	7.25%	7.92%	6.90%
DIIs	23.98%	24.21%	24.05%	23.60%	24.09%	23.92%	24.17%	24.38%	26.15%	25.55%	24.51%	24.27%
Public	15.66%	15.38%	15.34%	15.62%	14.94%	14.82%	14.86%	14.78%	14.82%	15.06%	15.41%	16.70%
Others	0.33%	0.33%	0.33%	0.33%	0.32%	0.32%	0.32%	0.32%	0.29%	0.29%	0.29%	0.27%
No. of Shareholders	17,520	17,415	17,547	18,526	19,138	19,757	20,521	21,176	21,818	21,929	22,189	23,802

Fundamentals

Market Cap₹ 4,148 Cr.

Current Price₹ 4,298

Stock P/E21.1

Book Value₹ 1,223

ROCE23.0 %

ROE16.7 %

Dividend Yield1.63 %

Face Value₹ 10.0

Compounded Sales Growth (TTM)26%

Compounded Profit Growth (TTM)11%

Consolidated figures.

Valuation

Market capRs 4,168 Cr

Enterprise valueRs 4,144 Cr

P/E (TTM)21.35x

Price to book3.53x

Price to sales6.53x

EV / EBITDA13.54x

EV / EBIT15.27x

EV / sales6.49x

Price to cash flow26.50x

Earnings yield4.68%

Dividend yield2.43%

P/E, 3-year average30.88x

P/B, 3-year average4.84x

P/E, 5-year average32.12x

P/B, 5-year average4.77x

Profitability

Operating margin (excl. other income)35.91%

Operating margin (incl. other income)47.23%

EBITDA margin47.95%

Pre-tax margin42.01%

Net profit margin30.58%

Net margin, latest quarter34.38%

ROE16.25%

ROCE22.50%

ROA13.09%

ROE, 3-year average16.23%

ROCE, 3-year average22.42%

ROA, 3-year average13.35%

ROE, 5-year average15.56%

ROCE, 5-year average21.23%

ROA, 5-year average13.01%

ROIC (approx.)17.10%

Tax rate27.12%

Other income / net worth5.75%

Growth

Sales growth (latest year)20.38%

Profit growth (latest year)6.77%

Sales CAGR, 3 years14.13%

Sales CAGR, 5 years14.77%

Profit CAGR, 3 years10.31%

Profit CAGR, 5 years17.32%

Sales growth QoQ-6.57%

Profit growth QoQ7.07%

Sales growth YoY (latest quarter)31.23%

Profit growth YoY (latest quarter)32.33%

Per share

EPS (TTM)Rs 202.30

EPS (latest year)Rs 188.08

EPS (latest quarter)Rs 58.19

EPS, 3-year averageRs 173.59

EPS, 5-year averageRs 155.45

Book value per shareRs 1,223.41

Sales per shareRs 661.46

Cash flow per shareRs 162.94

Free cash flow per shareRs 150.24

Dividend per share (latest year)Rs 104.98

Dividend per share, 3-year averageRs 88.32

Dividend per share, 5-year averageRs 84.59

Dividends

Dividend payout55.82%

Dividend payout, 3-year average51.25%

Dividend payout, 5-year average54.11%

Efficiency

Asset turnover0.40x

Fixed asset turnover1.92x

Debtor days48 days

Debtors turnover7.65x

Cash conversion cycle48 days

Working capital days-52 days

Leverage

Total debtRs 18 Cr

Cash and bankRs 42 Cr

Net debtRs -24 Cr

Debt to equity0.02x

Net debt / EBITDA-0.08x

Interest coverage83.77x

Current ratio (filing 2026-03-31)3.80x

Quick ratio (filing 2026-03-31)3.80x

Trade payables (filing 2026-03-31)Rs 14 Cr

Owners' fund to total sources79.74%

Debt to assets1.24%

Cash flow

Cash from Operating Activity (latest year)Rs 157 Cr

Cash from Investing Activity (latest year)Rs -95 Cr

Cash from Financing Activity (latest year)Rs -67 Cr

Net Cash Flow (latest year)Rs -5 Cr

Free cash flow (latest year)Rs 145 Cr

FCFE (approx.: FCF + change in debt)Rs 150 Cr

Cash from ops / profit, 5 years0.80x

Sales to cash flow3.81x

Statement figures

Net sales (TTM)Rs 638 Cr

Net sales (latest year)Rs 600 Cr

Sales (latest quarter)Rs 163 Cr

Operating profit excl. other income (latest year)Rs 215 Cr

Operating profit (latest quarter)Rs 55 Cr

Other income (TTM)Rs 76 Cr

EBITDA (TTM)Rs 306 Cr

PBDT (TTM)Rs 303 Cr

Profit before tax (TTM)Rs 268 Cr

Tax (latest year)Rs 68 Cr

Net profit (TTM)Rs 195 Cr

Net profit (latest year)Rs 182 Cr

Net profit (latest quarter)Rs 56 Cr

Depreciation (TTM)Rs 35 Cr

Depreciation (latest quarter)Rs 11 Cr

Interest (TTM)Rs 3 Cr

Cost of goods sold (latest year)Rs 19 Cr

Total expenditure (latest year)Rs 384 Cr

Total income (latest year)Rs 667 Cr

Share capitalRs 10 Cr

ReservesRs 1,171 Cr

Shareholders' fundsRs 1,181 Cr

Total assetsRs 1,481 Cr

Net blockRs 313 Cr

Capital work in progressRs 2 Cr

InvestmentsRs 730 Cr

ReceivablesRs 78 Cr

Other liabilitiesRs 282 Cr

Shares outstanding (crore)0.97

Ownership

Promoter holding51.86% (+0.00 in a year)

Computed by MarketFriction from the consolidated statements. Returns use average balances.

P/E 21.4 is at the 3th percentile of its own 9.4-year range (median 35.0, low 19.6, high 50.0).

P/B 3.53 is at the 4th percentile (median 5.00).

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.

Period	ICRA	Nifty 50	Difference
1 week	-2.8%	-2.8%	-0.0 pts
1 month	-13.8%	-6.8%	-7.0 pts
3 months	-18.3%	-7.6%	-10.7 pts
6 months	-13.7%	+0.4%	-14.1 pts
1 year	-33.2%	-9.9%	-23.2 pts
2 years	-40.0%	-13.6%	-26.4 pts
3 years	-21.2%	+14.2%	-35.4 pts
5 years	+22.7%	+27.9%	-5.2 pts

19 mutual fund schemes hold about ₹866 Cr. Over three months 14 bought more and 5 sold (share counts, price move removed).

Fund	Weight	Est. Cr	3m shares
Nippon India Small Cap Fund	0.48%	398	+9%
Parag Parikh Flexi Cap Fund	0.10%	141	+12%
Canara Rob Small Cap Fund	0.73%	107	+9%
Aditya Birla SL MNC Fund	1.40%	46	-26%
ICICI Pru Small Cap Fund	0.41%	40	+12%
ICICI Pru Small Cap Fund	0.41%	39	+12%
Canara Rob Multi Cap Fund	0.45%	26	+6%
JM Flexi Cap Fund	0.42%	22	-41%
ICICI Pru Banking & Fin Serv Fund	0.10%	11	+100%
ICICI Pru Banking & Fin Serv Fund	0.10%	11	+100%
Bajaj Finserv Multi Asset Allocation Fund	0.48%	9	+8%
ICICI Pru Children's Fund	0.34%	5	-36%
Bajaj Finserv Banking and Financial Services Fund	0.97%	5	+7%
Parag Parikh ELSS Tax Saver Fund	0.05%	3	+16%
WSIF Equity Ex-Top 100 Long-Short Fund	2.43%	1	+100%
WSIF Equity Long-Short Fund	1.45%	0	+100%
Motilal Oswal BSE 1000 Index Fund	0.01%	0	+12%
SBI Banking & Financial Services Fund	0.00%	0	-100%
SBI Infrastructure Fund	0.00%	0	-100%

Red flags

F-score 5 of 8

explain

Receivables outrunning sales Receivables grew 65% vs sales +20% in 2026

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 ₹163 Cr +31.5% vs Jun 2025. Net profit ₹56 Cr +30.2%.

Against our estimate for Jun 2026: sales -0.5%, profit +5.2% in line. Our estimate for Sep 2026: sales Rs 178 Cr, profit Rs 58 Cr (how).

Activity

Compare

Company	Mcap (Cr)	P/E	ROCE
CARE Ratings Ltd	4,948	27.8	26.3 %

No bulk or block deals on record.

Ex-date	Action	Factor
2026-07-23	Dividend - Rs 70 Per Share/Special Dividend - Rs 35 Per Share
2025-07-25	Annual General Meeting/Dividend - Rs 60 Per Share
2024-07-19	Annual General Meeting/Dividend - Rs 100 Per Share
2023-07-28	Annual General Meeting/Dividend - Rs 40 Per Share/Special Dividend - Rs 90 Per Share
2022-07-28	Dividend - Rs 28 Per Share
2021-07-22	Dividend - Rs 27 Per Share
2020-09-16	Annual General Meeting/Dividend - Rs 27 Per Share
2019-09-24	Dividend - Rs 30 Per Share
2018-08-03	Annual General Meeting / Dividend- Rs 30 Per Share
2017-07-28	Dividend - Rs 27/- Per Share
2016-08-05	Dividend Rs.25/- Per Share
2015-08-06	Annual General Meeting / Dividend - Rs 24/- Per Share
2014-08-06	Annual General Meeting/Dividend Rs 23 Per Share
2013-07-26	Annual General Meeting And Dividend Rs.22/- Per Share
2012-07-27	Annual General Meeting And Dividend - Rs.20/- Per Share
2011-08-05	Dividend-Rs.17/- Per Share
2010-08-05	Dividend-Rs.17/- Per Share
2009-07-30	Agm/Div-Fin Rs.7+Spl Rs.5
2008-07-24	Agm/Dividend-Rs.10 Per Sh
2007-07-23	Agm/Dividend-45%

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.

Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of ICRA Ltd?

ICRA Ltd (ICRA) has a market capitalisation of Rs 4,148 Cr. at the 2026-10-01 close.

What is the P/E ratio of ICRA Ltd?

ICRA Ltd trades at a P/E of 21.1 on trailing twelve-month profit, at the 2026-10-01 close.

What were ICRA Ltd's latest quarterly results?

In the Jun 2026 quarter, ICRA Ltd sales was Rs 163 Cr (+31.5% vs Jun 2025) and net profit was Rs 56 Cr.

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

The 52-week high is Rs 6,620.00 and the 52-week low is Rs 4,198.20.