ICRA Ltd
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]
- Market Cap ₹ 5,072 Cr.
- Current Price ₹ 5,255
- High / Low ₹ 6,249 / 4,662
- Stock P/E 35.6
- Book Value ₹ 930
- Dividend Yield 0.76 %
- 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.
Peer comparison
Sector: Credit Rating Agencies Industry: Miscellaneous
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
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: | 11% |
| 5 Years: | 11% |
| 3 Years: | 16% |
| 1 Year: | 11% |
| 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% |
Documents
Announcements
- Certificate Pursuant To Regulation 40(9) Of The SEBI (LODR) Regulations, 2015 12 Apr
- Conclusion Time Of 32Nd Annual General Meeting Of ICRA Limited 8 Apr
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Compliance Certificate For The Financial Year Ended March 31, 2024
8 Apr - Compliance certificate pursuant to Regulation 7(3) of the SEBI (LODR) Regulations, 2015
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
8 Apr - Certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2024
- Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 5 Apr
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Financial Year 2012
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Financial Year 2011
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Concalls
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Jan 2024TranscriptNotesPPT
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Oct 2023Transcript PPT
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Aug 2023TranscriptNotesPPT
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May 2023Transcript PPT
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Feb 2023TranscriptNotesPPT
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Oct 2022TranscriptNotesPPT
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Nov 2015TranscriptNotesPPT
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Aug 2015TranscriptNotesPPT
Range of Services
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]
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]