CARE Ratings Ltd

careratings.com BSE: 534804 NSE : CARERATING

About [ edit ]

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 [ edit ]

SEBI Imposed Penalty of 1 Cr
for its lapses in giving credit rating to non-convertible debentures of IL&FS. ^#

Changes in top management
Dec 2019: MD & CEO Resignation
MD Rajesh Mokashi resigned after he was sent on leave due to an anonymous complaint filed with SEBI, TN Arun Kumar to act as interim CEO. ^# ^#

April 2020: Mr. Ajay Mahajan joined as new MD & CEO. ^# ^#

Jan 2021: Resignation of Chief Rating Officer and CFO
Mr. T. N. Arun Kumar, Executive Director & CRO, and Mr. Bharat A Adnani, CFO resigned on account of personal reasons. ^#

Future plans
The focus is on getting Back lost Market Share. ^#

Improving the quality of ratings by using AI for early detection of frauds, for this company has also partnered up with Tresata. ^#

To grow the non-rating business from 1-2% to 40-50%. ^#

Aim to cross Sales of 300-350 cr. in 3 year time. ^#

Website BSE NSE

Market Cap ₹ 1,395 Cr.
Current Price ₹ 474
High / Low ₹ 608 / 235
Stock P/E 17.7
Book Value ₹ 194
Dividend Yield 4.12 %
ROCE 20.2 %
ROE 15.9 %
Face Value ₹ 10.0

Add ratio to table

Edit ratios

Pros

Company is almost debt free.
Company has a good return on equity (ROE) track record: 3 Years ROE 23.34%
Company has been maintaining a healthy dividend payout of 77.93%

Cons

The company has delivered a poor sales growth of -1.33% over past five years.
Earnings include an other income of Rs.33.05 Cr.

Peer comparison

Sector: Credit Rating Agencies Industry: Miscellaneous

Edit Columns

Loading peers table ...

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020
	99	60	97	73	89	50	72	56	66	37	76	56
	39	32	35	37	40	38	35	39	51	32	34	37
Operating Profit	60	28	61	36	49	12	36	18	15	5	42	18
OPM %	60%	47%	63%	50%	55%	24%	51%	31%	23%	14%	55%	33%
Other Income	8	5	7	9	10	8	9	7	7	10	8	8
Interest	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	1	1	1	1	1	2	2	2	2	2	2	2
Profit before tax	67	32	68	44	58	18	43	22	20	12	48	24
Tax %	37%	21%	33%	30%	37%	24%	15%	22%	23%	21%	25%	22%
Net Profit	42	25	45	31	36	13	36	17	15	9	35	19
EPS in Rs	14.27	8.50	15.43	10.37	12.37	4.47	12.39	5.91	5.19	3.17	12.04	6.32
	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	TTM
	180	203	236	261	279	287	333	319	244	235
	56	68	88	101	105	105	122	144	162	154
Operating Profit	123	135	148	160	174	182	211	175	81	80
OPM %	69%	66%	63%	61%	62%	63%	63%	55%	33%	34%
Other Income	28	29	36	44	9	34	25	30	31	33
Interest	0	0	0	1	0	0	0	0	1	1
Depreciation	2	3	3	5	4	3	3	3	8	8
Profit before tax	150	160	181	197	178	212	233	202	104	105
Tax %	28%	29%	28%	30%	33%	31%	30%	32%	20%
Net Profit	108	114	129	138	120	148	162	137	82	79
EPS in Rs	37.69	39.78	44.63	47.53	40.68	50.13	55.13	46.66	27.96	26.72
Dividend Payout %	27%	50%	63%	166%	69%	56%	100%	64%	70%

Compounded Sales Growth
10 Years:	%
5 Years:	-1%
3 Years:	-5%
TTM:	-12%

Compounded Profit Growth
10 Years:	%
5 Years:	-6%
3 Years:	-17%
TTM:	-24%

Stock Price CAGR
10 Years:	%
5 Years:	-12%
3 Years:	-30%
1 Year:	-7%

Return on Equity
10 Years:	%
5 Years:	26%
3 Years:	23%
Last Year:	16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Corporate actions

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Sep 2020
	29	29	29	29	29	29	29	29	29	29
Reserves	349	396	456	330	379	490	559	499	480	543
Borrowings	0	0	0	0	0	0	0	0	0	0
	53	84	96	87	94	64	70	86	108	79
Total Liabilities	430	508	581	446	502	584	658	614	618	651
	56	58	59	65	64	61	60	83	93	90
CWIP	0	0	0	0	0	0	0	0	1	0
Investments	270	381	459	335	381	466	518	439	339	280
	103	69	63	46	58	57	79	93	185	281
Total Assets	430	508	581	446	502	584	658	614	618	651

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020
	98	83	107	107	106	119	134	109	-30
	-6	-87	-46	157	-41	-22	-25	83	124
	-40	-40	-62	-276	-66	-96	-99	-195	-107
Net Cash Flow	52	-44	-1	-12	-1	1	11	-4	-13

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020
ROCE %		37%	36%	39%	46%	44%	42%	36%	20%
Debtor Days	32	40	23	22	31	32	43	54	61
Inventory Turnover

Shareholding Pattern

Numbers in percentages

Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020
42.83	42.90	45.37	42.74	46.65	49.31	47.62	40.80	29.43	29.17	27.65	26.30
23.92	23.67	22.11	24.80	21.66	19.87	19.00	19.03	24.25	23.69	27.61	21.69
33.25	33.43	32.52	32.46	31.69	30.82	33.38	40.17	46.32	47.14	44.74	52.01

CARE Ratings Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

Documents

Recent announcements

Annual reports

Links