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ICRA share price & results

ICRA Limited· Financial Services

Results to
Jun 2026
Latest analysed call
Q4 FY26
Ownership as of
Sept 2026

India's Moody's-backed credit rating agency, also providing research and risk/regulatory analytics.

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue82.0 ₹ crore+13.9% YoYQuarterly, as filedQuarter to Jun 2026Revenue from operations as filed.
Operating margin34.0 %+7.0 pts YoYOperating profit / revenueQuarter to Jun 2026For the quarter; a change is in percentage points.
Net profit35.0 ₹ crore+16.7% YoYQuarterly, as filedQuarter to Jun 2026Profit after tax as filed.
Return on equity17.63 %−0.0 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin24.17 %−2.5 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)26.04 %+8.8 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Jun 2026

Guidance

What management said, and what became of it

1 of 7 judged targets kept · 4 open · verdicts reflect calls analysed to Q4 FY26.

ICRA Limited management guidance track record on Inve: 11 targets tracked across analysed earnings calls (1 achieved, 6 missed, 4 open).

TargetOriginal wordingSaidLatest callVerdict
Capital AllocationAnd let's say, by 6 or 8 months, if we find nothing is progressing, we will definitely look at either increasing the payout ratio or in some other way, returning the cash to shareholders.
Call transcript, Q4 FY25 · 2 Jun 2025		Q4 FY25Q4 FY26:The original conditional promise remains achieved. In Q4 FY26, the company further demonstrated commitment to shareholder returns by announcing a total dividend of INR 105/share, including a special dividend of INR 35/share.
Call transcript, Q4 FY26 · 25 May 2026		Achieved
Operating Marginsour aim is to improve the margins year-on-year basis.Q2 FY24Q4 FY26:For the full FY26, PBT growth (10%) significantly lagged revenue growth (20.4%), indicating YoY margin contraction and a reversal of the trend seen in H1.
Call transcript, Q4 FY26 · 25 May 2026		Missed
Non-Knowledge Services Business SizeNon-KS business to be similar in size to the KS business over the next 3 to 4 years.
Call transcript, Q4 FY25 · 2 Jun 2025		Q4 FY25Q4 FY26:The Research & Analytics segment grew 56.8% YoY in Q4, largely driven by the Fintellix acquisition. Management explicitly noted a 'shift in the overall business mix with a higher contribution from non-KnowTech businesses', confirming progress towards the long-term goal.
Call transcript, Q4 FY26 · 25 May 2026		On Track

Source: Inve Guidance Tracker for ICRA Limited · to Q4 FY26

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

6 of ICRA Limited's 11 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 8 more targets are in the full ledger.

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Price

₹4,498.3 +0.12% · +₹5.4

Last close 27 Oct 2026 · NSE · INR · Source: Inve

Performance −28.0% 1Y

₹4.5k₹5.0k₹5.5k₹6.0k₹6.5kOct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Oct 26Q2 FY26 — 29 Oct 2025Q4 FY26 — 25 May 2026

1Y: ₹6,251 on 24 Oct 2025 → ₹4,498.3. High ₹6,531 (29 Oct 2025), low ₹4,232 (30 Sept 2026).

Previous close
₹4,492.9
Market cap
₹4.3k Cr
52-week range
₹4,232 – ₹6,531
One year
−28.33%
Price to earnings (TTM to Jun 2026)
22.01×
Return on equity (TTM to Jun 2026)
17.63%

Overview

Symbol
NSE:ICRA
Exchange
NSE
Currency
INR

What ICRA Limited does

Based on the company's own presentations, annual report and earnings calls.

ICRA is an independent investment information and credit rating agency, aligned with global rating agency Moody's (its largest shareholder via a Technical Services Agreement). It assigns and monitors credit ratings for corporate debt, financial-sector entities, structured finance, infrastructure and InvITs, mutual fund schemes and public finance, and has extended into ESG ratings after registering as a SEBI Category-I ESG Rating Provider. Beyond ratings, the group's Research & Analytics business — organised into KnowTech (data and knowledge-process services), BankTech (risk, regulatory and supervisory technology) and CapTech (market data, valuation and investment intelligence) — serves banks, NBFCs, mutual funds, insurers and corporates. It has expanded these analytics capabilities through the acquisitions of D2K Technologies (FY2024) and Fintellix (FY2026).

Segments

  • Ratings & Ancillary Services
  • Research & Analytics (R&A)
Live-rated issuers
2,631 issuers
Structured finance cases monitored
~1,90,000 cases
Entities' financial statements analysed annually
48,000+ entities
Ratings analysts
250+ analysts
Research reports published
600+ reports across 60+ sectors
Office network
11 locations across India (Gurugram, New Delhi, Mumbai, Navi Mumbai, Pune, Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata)
Founded 1991Headquarters Gurugram, Haryana Company website

How the price took the results

close before → close after

Q4 FY26
+0.9%
25 May
Q2 FY26
+3.8%
29 Oct

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

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