ICRA Ltd

ICRA Ltd

₹ 6,068 0.48%
26 Feb - close price
About

ICRA Limited was set up in 1991 by leading financial/investment institutions, commercial banks and financial services companies as an independent and professional investment Information and Credit Rating Agency.[1] It is involved in rating, management consulting and outsourcing and information services etc.[2]

Key Points

Range of Services

  1. Rating Services - ICRA is one of India's most experienced credit rating agencies. It rates debt instruments issued by manufacturing companies, commercial banks, non-banking finance companies, financial institutions, public sector undertakings, and municipalities, among others.[1]

  2. Industry Research - The company provides research services across the economy, industry, and companies. It researches 55 industries with the reports providing in-depth analysis across business and profitability outlook, industry analysis, competitive landscape, regulatory environment, etc. [1]

  • Market Cap 5,857 Cr.
  • Current Price 6,068
  • High / Low 6,249 / 4,251
  • Stock P/E 41.1
  • Book Value 930
  • Dividend Yield 0.66 %
  • ROCE 20.0 %
  • ROE 15.1 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 49.6%

Cons

  • The company has delivered a poor sales growth of 5.48% over past five years.
  • Company has a low return on equity of 13.5% over last 3 years.
  • Earnings include an other income of Rs.67.2 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.

Loading peers table ...

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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
77 82 80 83 87 94 93 99 103 109 103 105 115
53 58 55 60 52 55 61 63 67 71 68 71 84
Operating Profit 24 24 25 23 35 39 32 36 36 38 35 34 30
OPM % 31% 29% 31% 27% 40% 41% 34% 36% 35% 35% 34% 32% 26%
11 10 11 11 9 11 7 13 15 16 18 16 17
Interest 0 1 0 0 0 0 0 0 0 0 0 0 3
Depreciation 3 3 2 2 2 2 2 2 3 3 2 3 4
Profit before tax 33 31 33 31 41 47 36 46 48 51 50 47 41
Tax % 25% 26% 27% 22% 25% 28% 41% 19% 18% 24% 18% 32% 20%
24 22 24 24 31 34 22 37 39 39 41 32 32
EPS in Rs 25.06 23.00 24.82 24.93 32.00 34.62 22.02 38.06 40.29 39.76 41.77 32.92 33.31
Raw PDF

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 Mar 2021 Mar 2022 Mar 2023 TTM
207 251 283 322 341 333 309 328 321 301 343 403 431
145 192 197 252 240 231 194 215 225 220 222 260 294
Operating Profit 63 60 86 70 101 102 115 113 96 81 121 143 137
OPM % 30% 24% 30% 22% 30% 31% 37% 34% 30% 27% 35% 35% 32%
21 17 19 42 27 39 49 45 48 43 41 50 67
Interest 0 0 1 2 1 0 0 0 2 2 2 1 4
Depreciation 5 5 6 10 10 9 8 6 10 10 8 10 12
Profit before tax 79 72 98 100 118 132 157 152 131 112 152 181 189
Tax % 32% 18% 30% 35% 35% 33% 35% 30% 26% 26% 25% 25%
54 59 69 66 76 89 101 106 97 83 114 137 144
EPS in Rs 54.01 59.16 68.93 65.45 76.24 89.29 101.68 109.21 99.66 84.61 116.35 140.13 147.76
Dividend Payout % 37% 37% 33% 37% 33% 30% 29% 27% 27% 32% 24% 93%
Compounded Sales Growth
10 Years: 5%
5 Years: 5%
3 Years: 8%
TTM: 11%
Compounded Profit Growth
10 Years: 10%
5 Years: 7%
3 Years: 12%
TTM: 9%
Stock Price CAGR
10 Years: 12%
5 Years: 16%
3 Years: 31%
1 Year: 37%
Return on Equity
10 Years: 15%
5 Years: 14%
3 Years: 14%
Last Year: 15%

Balance Sheet

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 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 10 10 10 10 10 10 10 10 10 10 10 10 10
Reserves 292 329 378 419 466 539 645 631 692 748 834 941 888
0 0 16 10 0 0 0 0 0 17 14 13 12
83 102 109 144 151 111 116 128 144 121 121 138 167
Total Liabilities 384 441 513 583 627 660 771 769 846 896 978 1,101 1,076
34 65 89 91 92 37 36 34 54 46 46 47 47
CWIP 0 1 7 0 1 1 0 1 2 3 2 1 0
Investments 236 229 277 257 185 311 338 182 104 177 454 689 699
114 146 140 234 350 312 396 552 685 669 478 364 330
Total Assets 384 441 513 583 627 660 771 769 846 896 978 1,101 1,076

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 Mar 2021 Mar 2022 Mar 2023
39 24 100 67 71 63 62 81 21 76 97 99
-24 -6 -72 -31 -40 -12 -54 45 11 -32 -72 -77
-16 -11 -27 -29 -40 -69 4 -121 -41 -32 -31 -32
Net Cash Flow -1 6 1 7 -9 -17 12 5 -8 12 -7 -10

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 Mar 2021 Mar 2022 Mar 2023
Debtor Days 65 69 55 61 51 37 48 38 65 58 28 34
Inventory Days
Days Payable
Cash Conversion Cycle 65 69 55 61 51 37 48 38 65 58 28 34
Working Capital Days -40 -19 -54 -64 -66 -45 -41 -44 -2 -44 -52 -62
ROCE % 24% 19% 23% 21% 24% 26% 25% 23% 20% 15% 19% 20%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
51.87% 51.87% 51.87% 51.87% 51.87% 51.87% 51.86% 51.86% 51.86% 51.86% 51.86% 51.86%
9.76% 9.76% 8.95% 8.18% 7.55% 7.55% 7.60% 7.71% 7.64% 7.71% 8.15% 8.22%
29.30% 28.94% 29.49% 29.06% 28.84% 28.70% 27.47% 25.23% 24.73% 24.30% 23.98% 24.21%
8.74% 9.10% 9.37% 10.56% 11.42% 11.56% 12.74% 14.86% 15.43% 15.79% 15.66% 15.38%
0.33% 0.33% 0.33% 0.33% 0.33% 0.33% 0.33% 0.33% 0.33% 0.33% 0.33% 0.33%
No. of Shareholders 13,77215,95715,48715,66115,37315,43516,10316,68417,24217,04617,52017,415

* 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

Concalls