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 ₹ 4,903 Cr.
- Current Price ₹ 1,628
- High / Low ₹ 1,838 / 1,393
- Stock P/E 27.6
- Book Value ₹ 310
- Dividend Yield 1.35 %
- ROCE 26.3 %
- ROE 19.7 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 43.8%
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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 261 | 279 | 287 | 333 | 319 | 244 | 248 | 248 | 279 | 332 | 402 | 473 | 491 | |
| 101 | 105 | 105 | 122 | 144 | 162 | 153 | 168 | 180 | 220 | 247 | 276 | 287 | |
| Operating Profit | 160 | 174 | 182 | 211 | 175 | 81 | 96 | 80 | 99 | 112 | 155 | 197 | 204 |
| OPM % | 61% | 62% | 63% | 63% | 55% | 33% | 39% | 32% | 36% | 34% | 39% | 42% | 42% |
| 44 | 9 | 34 | 25 | 30 | 31 | 31 | 27 | 38 | 47 | 51 | 55 | 56 | |
| Interest | 1 | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 1 | 2 | 2 | 2 | 2 |
| Depreciation | 5 | 4 | 3 | 3 | 3 | 8 | 8 | 8 | 11 | 10 | 12 | 14 | 15 |
| Profit before tax | 197 | 178 | 212 | 233 | 202 | 104 | 119 | 99 | 126 | 147 | 192 | 235 | 243 |
| Tax % | 30% | 33% | 31% | 30% | 32% | 20% | 23% | 22% | 32% | 30% | 27% | 26% | |
| 138 | 120 | 148 | 162 | 138 | 83 | 91 | 77 | 85 | 103 | 140 | 174 | 180 | |
| EPS in Rs | 47.53 | 40.68 | 50.13 | 55.13 | 46.66 | 27.96 | 30.39 | 25.34 | 28.12 | 33.67 | 45.85 | 56.97 | 59.16 |
| Dividend Payout % | 166% | 69% | 56% | 100% | 64% | 70% | 56% | 67% | 89% | 53% | 39% | 39% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 5% |
| 5 Years: | 14% |
| 3 Years: | 19% |
| TTM: | 18% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 4% |
| 5 Years: | 14% |
| 3 Years: | 27% |
| TTM: | 25% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 2% |
| 5 Years: | 19% |
| 3 Years: | 24% |
| 1 Year: | 5% |
| Return on Equity | |
|---|---|
| 10 Years: | 19% |
| 5 Years: | 16% |
| 3 Years: | 18% |
| Last Year: | 20% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 330 | 379 | 491 | 567 | 521 | 504 | 559 | 618 | 643 | 687 | 776 | 902 |
| 0 | 0 | 0 | 0 | 0 | 0 | 7 | 9 | 17 | 20 | 24 | 26 | |
| 87 | 94 | 64 | 61 | 64 | 85 | 74 | 69 | 80 | 105 | 128 | 146 | |
| Total Liabilities | 446 | 502 | 584 | 658 | 614 | 618 | 671 | 725 | 770 | 842 | 958 | 1,105 |
| 65 | 64 | 61 | 60 | 83 | 93 | 85 | 96 | 107 | 109 | 119 | 122 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 1 | 3 | 8 | 4 | 6 | 3 | 5 |
| Investments | 335 | 381 | 466 | 518 | 439 | 339 | 240 | 44 | 44 | 44 | 134 | 87 |
| 46 | 58 | 57 | 79 | 93 | 185 | 343 | 577 | 614 | 683 | 702 | 890 | |
| Total Assets | 446 | 502 | 584 | 658 | 614 | 618 | 671 | 725 | 770 | 842 | 958 | 1,105 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 106 | 119 | 134 | 109 | 67 | 86 | 68 | 82 | 91 | 123 | 148 | |
| 157 | -41 | -22 | -25 | 83 | 27 | -38 | -27 | 13 | -39 | -58 | -94 | |
| -276 | -66 | -96 | -99 | -195 | -107 | -43 | -35 | -63 | -63 | -54 | -59 | |
| Net Cash Flow | -12 | -1 | 1 | 11 | -4 | -13 | 5 | 6 | 32 | -11 | 11 | -6 |
| Free Cash Flow | 96 | 104 | 118 | 131 | 82 | 63 | 82 | 49 | 71 | 82 | 108 | 140 |
| CFO/OP | 104% | 95% | 101% | 95% | 98% | 125% | 114% | 122% | 115% | 119% | 112% | 107% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 22 | 31 | 32 | 43 | 54 | 61 | 31 | 25 | 27 | 25 | 29 | 27 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 22 | 31 | 32 | 43 | 54 | 61 | 31 | 25 | 27 | 25 | 29 | 27 |
| Working Capital Days | -82 | -65 | -10 | -1 | 13 | 14 | -3 | 635 | 638 | 591 | 451 | 316 |
| ROCE % | 39% | 46% | 44% | 41% | 35% | 19% | 21% | 16% | 19% | 21% | 25% | 26% |
Insights
In beta| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Number of Employees (Standalone) count ・Standalone data |
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| 1-Year Stability Rate (AAA, 5-yr average) % ・Standalone data |
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| New Companies/Clients Rated Annually count ・Standalone data |
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| Cumulative Debt Rated by CareEdge Africa USD billion |
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| Cumulative Sovereigns Rated by CareEdge Global count |
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| ESG Market Share (Category I ERP, issuer-pays) % |
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| Knowledge Sharing & Speaker Forums (FY) count |
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| Reports Published (FY) count |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
- CARE Ratings schedules virtual analyst meet with RatnaTraya Capital on 25 September 2026.
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
- Announcement under Regulation 30 (LODR)-Newspaper Publication
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Annual reports
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Annual Report 2026
from bse
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Annual Report 2025
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Annual Report 2024
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Annual Report 2023
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Annual Report 2022
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Annual Report 2021
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Annual Report 2020
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Annual Report 2019
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Annual Report 2018
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Annual Report 2017
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Annual Report 2016
from bse
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Annual Report 2015
from bse
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Annual Report 2014
from bse
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Annual Report 2013
from nse
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Annual Report 2013
from bse
Concalls
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Aug 2026PPT
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May 2026Transcript PPT REC
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Oct 2023PPT
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May 2023Transcript PPT
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Nov 2022PPT
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Feb 2022Transcript PPT
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Nov 2021Transcript PPT
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Aug 2021PPT
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Feb 2021PPT
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Nov 2020PPT
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Aug 2020PPT
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Jun 2020Transcript PPT
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Nov 2019Transcript PPT
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Nov 2019PPT
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Aug 2019Transcript PPT
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Jun 2019Transcript PPT
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May 2019PPT
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Feb 2019PPT
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May 2018PPT
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May 2018PPT
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Nov 2017PPT
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Aug 2017PPT
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May 2016PPT
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Feb 2016PPT
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Nov 2015PPT
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Jul 2015PPT
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.