CARE Ratings Ltd
CARE Ratings is a leading credit rating agency of India. The Company provides various credit ratings that helps corporates to raise capital for their various requirements and assists the investors to form an informed investment decision based on the credit risk and their own riskreturn expectations.(Source : 202003-01 Annual Report Page No:134)
- Market Cap ₹ 5,407 Cr.
- Current Price ₹ 1,800
- High / Low ₹ 1,965 / 1,393
- Stock P/E 31.0
- Book Value ₹ 327
- Dividend Yield 1.22 %
- ROCE 25.0 %
- ROE 18.9 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 39.8%
Cons
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Financial Services Financial Services Capital Markets Ratings
Part of BSE Financial Services BSE 1000
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 257 | 265 | 280 | 322 | 297 | 219 | 220 | 219 | 249 | 283 | 337 | 388 | |
| 95 | 93 | 94 | 112 | 126 | 143 | 131 | 133 | 139 | 159 | 182 | 200 | |
| Operating Profit | 162 | 172 | 186 | 209 | 171 | 77 | 88 | 86 | 110 | 124 | 155 | 187 |
| OPM % | 63% | 65% | 66% | 65% | 58% | 35% | 40% | 39% | 44% | 44% | 46% | 48% |
| 44 | 9 | 34 | 25 | 30 | 31 | 32 | 28 | 37 | 47 | 51 | 56 | |
| Interest | 1 | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 1 | 1 | 2 | 2 |
| Depreciation | 5 | 4 | 3 | 3 | 3 | 7 | 7 | 7 | 8 | 8 | 8 | 9 |
| Profit before tax | 199 | 177 | 217 | 232 | 198 | 100 | 113 | 107 | 138 | 162 | 197 | 232 |
| Tax % | 30% | 33% | 30% | 31% | 32% | 20% | 24% | 21% | 25% | 26% | 25% | 25% |
| 140 | 118 | 152 | 161 | 135 | 80 | 86 | 84 | 104 | 119 | 148 | 174 | |
| EPS in Rs | 48.39 | 40.03 | 51.70 | 54.66 | 45.82 | 27.32 | 29.13 | 28.49 | 34.95 | 40.01 | 49.44 | 58.04 |
| Dividend Payout % | 163% | 70% | 54% | 101% | 65% | 71% | 58% | 60% | 72% | 45% | 36% | 38% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 4% |
| 5 Years: | 12% |
| 3 Years: | 16% |
| TTM: | 15% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 4% |
| 5 Years: | 15% |
| 3 Years: | 19% |
| TTM: | 18% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 6% |
| 5 Years: | 28% |
| 3 Years: | 37% |
| 1 Year: | 17% |
| Return on Equity | |
|---|---|
| 10 Years: | 19% |
| 5 Years: | 17% |
| 3 Years: | 18% |
| Last Year: | 19% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| 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 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 30 | 30 | 30 | 30 | 30 |
| Reserves | 331 | 379 | 495 | 570 | 520 | 502 | 554 | 621 | 665 | 729 | 828 | 954 |
| 0 | 0 | 0 | 0 | 0 | 0 | 6 | 4 | 14 | 17 | 16 | 16 | |
| 84 | 91 | 62 | 57 | 56 | 72 | 61 | 54 | 58 | 75 | 96 | 110 | |
| Total Liabilities | 445 | 499 | 586 | 656 | 606 | 603 | 651 | 709 | 766 | 851 | 969 | 1,109 |
| 56 | 55 | 53 | 52 | 75 | 83 | 76 | 82 | 91 | 93 | 93 | 97 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 7 | 3 | 1 | 3 | 0 |
| Investments | 346 | 392 | 484 | 537 | 458 | 359 | 266 | 71 | 112 | 129 | 255 | 207 |
| 43 | 52 | 49 | 67 | 73 | 161 | 305 | 550 | 560 | 627 | 618 | 805 | |
| Total Assets | 445 | 499 | 586 | 656 | 606 | 603 | 651 | 709 | 766 | 851 | 969 | 1,109 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 107 | 108 | 123 | 136 | 111 | 66 | 82 | 64 | 95 | 107 | 121 | 142 | |
| 157 | -41 | -28 | -27 | 81 | 26 | -38 | -23 | -2 | -60 | -72 | -98 | |
| -276 | -66 | -96 | -99 | -195 | -106 | -43 | -35 | -62 | -60 | -53 | -53 | |
| Net Cash Flow | -13 | 1 | -0 | 11 | -4 | -14 | 2 | 6 | 31 | -12 | -4 | -9 |
| Free Cash Flow | 96 | 105 | 122 | 134 | 84 | 62 | 78 | 50 | 88 | 104 | 111 | 135 |
| CFO/OP | 66% | 97% | 101% | 97% | 100% | 130% | 117% | 104% | 114% | 118% | 108% | 108% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| 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 | 21 | 31 | 30 | 42 | 53 | 60 | 28 | 23 | 22 | 19 | 24 | 24 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 21 | 31 | 30 | 42 | 53 | 60 | 28 | 23 | 22 | 19 | 24 | 24 |
| Working Capital Days | -80 | -71 | -14 | -5 | 8 | 4 | -20 | 693 | 691 | 675 | 540 | 398 |
| ROCE % | 40% | 46% | 45% | 41% | 34% | 19% | 20% | 17% | 20% | 22% | 24% | 25% |
Insights
In beta| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Employee Count Number |
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| Volume of New Debt Rated Rs. Lakh Crore |
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| International Debt Rated (Africa) USD Billion |
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| Rating Stability (AAA Category - 1 Year) % |
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Extracted by Screener AI
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 4h
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Announcement under Regulation 30 (LODR)-Newspaper Publication
6h - Newspaper Advertisement for publication of Financial Results of the Company for the quarter and year ended March 31, 2026.
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Audio Recording Of Earnings Conference Call For The Quarter And Year Ended March 31, 2026
23h - Audio recording link shared for Q4 and FY26 earnings call held May 14, 2026.
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Corporate Action - Record Date For Final Dividend
1d - CARE Ratings approved FY26 audited results, recommended Rs14 dividend, set July 3 AGM, granted 55,000 ESOPs.
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Grant Of Esops To Eligible Employees
1d - FY26 audited results approved; Rs14 final dividend, 55,000 ESOPs, AGM on July 3, 2026.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Concalls
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May 2026TranscriptAI SummaryPPT
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Overview[1]
CareEdge is a knowledge-based analytical group offering services in Credit Ratings, Analytics, Consulting and Sustainability. Established in 1993, the parent company CARE Ratings Ltd. (CareEdge Ratings) is India's second-largest rating agency, with a credible track record of rating companies across diverse sectors and holding leadership positions in high-growth sectors such as BFSI and Infra.