CARE Ratings Ltd

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

CARE Ratings Ltd

₹ 1,412 -1.31%
11 Dec 3:55 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 ₹ 4,224 Cr.
  • Current Price ₹ 1,412
  • High / Low ₹ 1,571 / 891
  • Stock P/E 36.9
  • Book Value ₹ 252
  • Dividend Yield 1.27 %
  • ROCE 20.6 %
  • ROE 14.5 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 69.8%

Cons

  • The company has delivered a poor sales growth of 0.78% over past five years.
  • Company has a low return on equity of 13.1% over last 3 years.
  • Earnings include an other income of Rs.47.7 Cr.

* 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

Part of BSE Allcap BSE SmallCap BSE Financial Services

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
76 56 66 55 85 62 78 66 96 79 90 79 117
43 41 43 38 43 48 50 49 55 55 61 57 62
Operating Profit 34 15 22 16 42 14 27 18 42 23 29 22 56
OPM % 44% 27% 34% 30% 50% 22% 35% 27% 43% 30% 32% 28% 47%
6 7 7 8 8 12 10 12 11 14 10 12 12
Interest 0 0 0 0 0 0 1 0 0 0 0 0 0
Depreciation 2 2 2 2 3 3 3 3 3 3 3 3 3
Profit before tax 37 20 27 21 48 23 34 26 50 34 36 30 64
Tax % 28% 25% 15% 33% 27% 28% 41% 31% 29% 30% 32% 30% 27%
27 15 23 14 35 16 20 18 36 24 25 21 47
EPS in Rs 9.04 4.91 7.72 4.61 11.57 5.38 6.60 5.99 11.81 7.88 8.07 6.94 15.41
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
203 236 261 279 287 333 319 244 248 248 279 332 365
68 88 101 105 105 122 144 162 153 168 180 220 235
Operating Profit 135 148 160 174 182 211 175 81 96 80 99 112 130
OPM % 66% 63% 61% 62% 63% 63% 55% 33% 39% 32% 36% 34% 36%
29 36 44 9 34 25 30 31 31 27 38 47 48
Interest 0 0 1 0 0 0 0 1 1 0 1 2 2
Depreciation 3 3 5 4 3 3 3 8 8 8 11 10 11
Profit before tax 160 181 197 178 212 233 202 104 119 99 126 147 165
Tax % 29% 28% 30% 33% 31% 30% 32% 20% 23% 22% 32% 30%
114 130 138 120 148 162 138 83 91 77 85 103 117
EPS in Rs 39.78 44.63 47.53 40.68 50.13 55.13 46.66 27.96 30.39 25.34 28.12 33.67 38.30
Dividend Payout % 50% 63% 166% 69% 56% 100% 64% 70% 56% 67% 89% 53%
Compounded Sales Growth
10 Years: 3%
5 Years: 1%
3 Years: 10%
TTM: 21%
Compounded Profit Growth
10 Years: -1%
5 Years: -6%
3 Years: 4%
TTM: 29%
Stock Price CAGR
10 Years: 0%
5 Years: 24%
3 Years: 32%
1 Year: 49%
Return on Equity
10 Years: 20%
5 Years: 14%
3 Years: 13%
Last Year: 14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 29 29 29 29 29 29 29 29 29 30 30 30 30
Reserves 396 456 330 379 491 567 521 504 559 618 643 687 724
0 0 0 0 0 0 0 0 7 9 17 20 21
84 96 87 94 64 61 64 85 74 69 80 105 119
Total Liabilities 508 581 446 502 584 658 614 618 671 725 770 842 894
58 59 65 64 61 60 83 93 85 96 107 109 117
CWIP 0 0 0 0 0 0 0 1 3 8 4 6 0
Investments 381 459 335 381 466 518 439 339 240 44 44 44 44
69 63 46 58 57 79 93 185 343 577 614 683 732
Total Assets 508 581 446 502 584 658 614 618 671 725 770 842 894

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
83 107 107 106 119 134 109 67 86 68 82 91
-87 -46 157 -41 -22 -25 83 27 -38 -27 13 -39
-40 -62 -276 -66 -96 -99 -195 -107 -43 -35 -63 -63
Net Cash Flow -44 -1 -12 -1 1 11 -4 -13 5 6 32 -11

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 40 23 22 31 32 43 54 61 31 25 27 25
Inventory Days
Days Payable
Cash Conversion Cycle 40 23 22 31 32 43 54 61 31 25 27 25
Working Capital Days -85 -100 -82 -65 -10 -1 13 14 1 640 641 594
ROCE % 37% 36% 39% 46% 44% 41% 35% 19% 21% 16% 19% 21%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
23.18% 25.74% 17.47% 18.14% 17.99% 20.03% 20.25% 20.90% 21.67% 22.91% 23.37% 24.79%
16.10% 14.52% 21.53% 24.88% 25.06% 23.79% 23.17% 23.72% 26.32% 26.89% 26.15% 25.28%
60.72% 59.74% 61.00% 56.99% 56.94% 56.16% 56.57% 55.38% 51.99% 50.20% 50.47% 49.92%
No. of Shareholders 71,89369,18671,42369,19664,90161,05059,50455,72154,53952,46853,14053,602

* 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