CARE Ratings Ltd

CARE Ratings Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

CARE Ratings Ltd

₹ 1,073 -2.35%
19 Apr 4:01 p.m.
careratings.com BSE: 534804 NSE : CARERATING
About

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)

Key Points

About
CARE was incorporated in 1993 and is one of
the leading credit rating agencies in India. The company is professionally managed and is a leader in corporate ratings and enjoys a dominant position in PSU ratings.[1] CareEdge Ratings is a leader in rating Financial and Infrastructure sector.[2]

Website BSE NSE
  • Market Cap ₹ 3,221 Cr.
  • Current Price ₹ 1,073
  • High / Low ₹ 1,265 / 626
  • Stock P/E 29.2
  • Book Value ₹ 241
  • Dividend Yield 1.58 %
  • ROCE 20.4 %
  • ROE 15.4 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 63.2%

Cons

  • The company has delivered a poor sales growth of -5.00% over past five years.
  • Earnings include an other income of Rs.43.4 Cr.
  • Working capital days have increased from 458 days to 693 days

* 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

Sector: Credit Rating Agencies Industry: Miscellaneous

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
47 69 42 69 49 60 49 77 55 68 56 85 67
32 43 35 34 34 31 30 33 36 40 36 40 43
Operating Profit 15 25 7 35 15 29 19 45 18 28 20 45 24
OPM % 32% 37% 17% 51% 31% 48% 39% 58% 33% 41% 36% 53% 35%
8 6 8 7 7 7 7 9 11 10 11 12 11
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 2 2 2 2 2 2 2 2 2 2 2 2 2
Profit before tax 21 30 13 40 20 34 24 51 27 35 29 55 32
Tax % 25% 25% 16% 26% 25% 15% 26% 25% 22% 26% 26% 25% 30%
16 22 11 30 15 29 18 38 21 26 22 41 22
EPS in Rs 5.37 7.50 3.70 10.10 5.03 9.75 6.10 12.98 7.22 8.71 7.27 13.69 7.47
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
178 199 229 257 265 280 322 297 219 220 219 249 276
55 65 83 95 93 94 112 126 143 131 133 139 159
Operating Profit 123 134 147 162 172 186 209 171 77 88 86 110 117
OPM % 69% 67% 64% 63% 65% 66% 65% 58% 35% 40% 39% 44% 42%
28 29 36 44 9 34 25 30 31 32 28 37 43
Interest 0 0 0 1 0 0 0 0 1 1 0 1 2
Depreciation 2 3 3 5 4 3 3 3 7 7 7 8 8
Profit before tax 150 160 179 199 177 217 232 198 100 113 107 138 151
Tax % 28% 29% 28% 30% 33% 30% 31% 32% 20% 24% 21% 25%
108 113 129 140 118 152 161 135 80 86 84 104 110
EPS in Rs 37.66 39.69 44.37 48.39 40.03 51.70 54.66 45.82 27.32 29.13 28.49 34.95 37.14
Dividend Payout % 27% 50% 63% 163% 70% 54% 101% 65% 71% 58% 60% 72%
Compounded Sales Growth
10 Years: 2%
5 Years: -5%
3 Years: 4%
TTM: 15%
Compounded Profit Growth
10 Years: 0%
5 Years: -8%
3 Years: 9%
TTM: 3%
Stock Price CAGR
10 Years: 3%
5 Years: 2%
3 Years: 31%
1 Year: 67%
Return on Equity
10 Years: 22%
5 Years: 17%
3 Years: 15%
Last Year: 15%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 29 29 29 29 29 29 29 29 29 29 30 30 30
Reserves 349 395 455 331 379 495 570 520 502 554 621 665 688
0 0 0 0 0 0 0 0 0 6 4 14 17
51 82 94 84 91 62 57 56 72 61 54 59 85
Total Liabilities 428 505 578 445 499 586 656 606 603 651 709 767 820
48 51 52 56 55 53 52 75 83 76 82 91 97
CWIP 0 0 0 0 0 0 0 0 0 4 7 3 0
Investments 279 390 468 346 392 484 537 458 359 266 71 112 120
101 64 59 43 52 49 67 73 161 305 550 561 602
Total Assets 428 505 578 445 499 586 656 606 603 651 709 767 820

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
98 82 109 107 108 123 136 111 66 82 64 95
-7 -87 -47 157 -41 -28 -27 81 26 -38 -23 -2
-40 -40 -62 -276 -66 -96 -99 -195 -106 -43 -35 -62
Net Cash Flow 51 -44 -1 -13 1 -0 11 -4 -14 2 6 31

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 32 40 23 21 31 30 42 53 60 28 23 24
Inventory Days
Days Payable
Cash Conversion Cycle 32 40 23 21 31 30 42 53 60 28 23 24
Working Capital Days -51 -87 -105 -80 -71 -14 -5 8 4 -16 697 693
ROCE % 40% 37% 35% 40% 46% 45% 41% 34% 19% 20% 17% 20%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
23.52% 21.13% 23.18% 25.74% 17.47% 18.14% 17.99% 20.03% 20.25% 20.90% 21.67% 22.91%
18.47% 17.89% 16.10% 14.52% 21.53% 24.88% 25.06% 23.79% 23.17% 23.72% 26.32% 26.89%
58.01% 60.98% 60.72% 59.74% 61.00% 56.99% 56.94% 56.16% 56.57% 55.38% 51.99% 50.20%
No. of Shareholders 68,79172,65871,89369,18671,42369,19664,90161,05059,50455,72154,53952,468

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

Announcements

Annual reports

Concalls