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ICRA Limited (ICRA.NS)

INR5,241.00 -8.50 (-0.16%)
IN NSE Financial Services Financial - Data & Stock Exchanges
Address Building No. 8 122002
Gurugram, IN
CEO Ramnath Krishnan
Website icra.in
IPO 2007-04-13
ISIN INE725G01011

Explore sections of this company profile

Also trades on Bombay Stock Exchange · ICRA.BO (INR) National Stock Exchange of India · ICRA.NS (INR)
Description

ICRA Limited functions as an independent and professional firm specializing in investment information and credit ratings, operating both in India and internationally. Its activities are segmented into Rating, Research and Other Services; Consulting Services; Knowledge Services; and Market Services. The company offers a diverse portfolio of rating services, such as credit, bank loan, structured finance, issuer, mutual fund, industry research, fund management quality, equity grading, insurance financial strength, and line of credit ratings. It also provides monitoring services for public issue proceeds. ICRA extends its grading capabilities across numerous sectors, including banking, finance, insurance, hydro-electricity, construction, trading, aviation, and manufacturing. Its comprehensive industry research services cover areas like business and profitability outlooks, in-depth industry analysis, competitive landscapes, regulatory impact assessments, company benchmarking, industry credit profiles, and detailed reports on listed entities. Furthermore, the company delivers management consulting solutions, encompassing risk management, financial advisory, outsourcing strategies, and policy guidance. Additionally, it supplies financial information products and services, alongside Knowledge Process Outsourcing (KPO) offerings. Founded in 1991, ICRA Limited was formerly known as Investment Information and Credit Rating Agency of India Limited and is headquartered in Gurugram, India.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
INR5,241.00 -8.50 (-0.16%)
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Volume Profile
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Liquidity & share structure
Average Volume
9.1K
Beta
0.20
Float Shares
4.46M
Free Float %
46.4%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-1.24% +0.02% -0.77% -4.64% -13.17% -11.76% -17.32% +12.47% +69.03% +21.96% +567.41%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
5,241.00
DCF (Unlevered) 10,811.45 +106.3%
DCF (Levered) 8,594.04 +64.0%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 100% Bullish
Rating 2026-05 Change
Strong Buy 1 0
Buy 1 0
Hold 0 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
11.89
Safe zone
Piotroski F-Score
4 / 9
Average
MOAT Score
6 / 10
Developing
Composite Rating
B+
Overall Score
3 / 5
Medium
DCF Score
4 / 5
High
ROE Score
4 / 5
High
ROA Score
5 / 5
High
D/E Score
3 / 5
Medium
P/E Score
1 / 5
Low
P/Book Score
1 / 5
Low
Operational MOAT
✗ Below peers
  • ✓
    Revenue growth Financial - Data & Stock Exchanges: +11.9%
    +20.6% ★ Q1'26: +29.3% (vs Q1'25)
  • ✓
    EPS growth Financial - Data & Stock Exchanges: +19.9%
    +6.7% Q1'26: -5.9% (vs Q1'25)
  • ✓
    FCF margin FCF growth · Financial - Data & Stock Exchanges: +25.6%
    +22.9% Q1'26: +41.8% (vs Q1'25)
  • ✓
    EBIT margin Financial - Data & Stock Exchanges: +51.8%
    +31.2% Q1'26: +34.1% (vs Q1'25)
  • ✓
    ROIC Financial - Data & Stock Exchanges: +13.5%
    +31.4% ★ Q1'26: +39.7% (vs Q1'25)
  • ✗
    Share dilution Financial - Data & Stock Exchanges: +0.6%
    +0.1% Q1'26: +0.0% (vs Q1'25)
  • ✓
    Debt / EBITDA Net debt/EBITDA · Financial - Data & Stock Exchanges: -0.36×
    0.09× ★ Q1'26: 0.07× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
▶ WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.22) × ERP
WACC = 100% × Ke + 0% × Kd (24.1%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
—
Intrinsic value (base): 11,083.40 Current price: 5,241.00
Enterprise Value: — Equity Value: — Terminal Value: — TV as % of EV: —

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Mar 2010
actual 		Mar 2011
actual 		Mar 2012
actual 		Mar 2013
actual 		Mar 2014
actual 		Mar 2015
actual 		Mar 2016
actual 		Mar 2017
actual 		Mar 2018
actual 		Mar 2019
actual 		Mar 2020
actual 		Mar 2021
actual 		Mar 2022
actual 		Mar 2023
actual 		Mar 2024
actual 		Mar 2025
actual 		Mar 2026
2 Rev. Ana.
2 EPS Ana. 		Mar 2027
1 Rev. Ana.
1 EPS Ana. 		Mar 2028
2 Rev. Ana.
2 EPS Ana. 		Mar 2029
1 Rev. Ana.
1 EPS Ana.
Revenue
—
est: 1.59B (-100.0%)
1.93B
est: 1.95B (-1.1%)
2.07B
est: 2.09B (-0.8%)
2.51B
est: 2.54B (-1.1%)
2.82B
est: 2.87B (-1.8%)
3.21B
est: 3.24B (-1.0%)
3.40B
est: 3.49B (-2.5%)
3.31B
est: 3.34B (-0.7%)
3.05B
est: 3.15B (-3.3%)
3.21B
est: 3.34B (-3.8%)
3.14B
est: 3.21B (-2.2%)
2.98B
est: 3.21B (-7.1%)
3.40B
est: 3.41B (-0.4%)
4.03B
est: 4.03B (+0.1%)
4.46B
est: 4.58B (-2.6%)
4.97B
est: 5.01B (-0.8%)
6.04B
6.03B – 6.04B
+20.5% YoY
7.29B
7.28B – 7.29B
+20.8% YoY
8.14B
8.12B – 8.15B
+11.6% YoY
9.09B
9.08B – 9.09B
+11.7% YoY
EBITDA
834.06M
est: 843.76M (-1.1%)
860.17M
est: 1.19B (-27.5%)
838.30M
est: 973.25M (-13.9%)
768.75M
est: 1.25B (-38.5%)
1.05B
est: 1.06B (-1.3%)
1.12B
est: 1.38B (-18.7%)
1.21B
est: 1.45B (-16.1%)
1.41B
est: 1.47B (-4.1%)
1.64B
est: 1.52B (+8.5%)
1.58B
est: 2.05B (-22.9%)
1.44B
est: 1.50B (-4.2%)
1.24B
est: 1.47B (-15.8%)
1.61B
est: 1.59B (+1.4%)
1.92B
est: 1.69B (+14.0%)
2.24B
est: 2.13B (+5.0%)
2.55B
est: 2.33B (+9.5%)
2.81B
2.80B – 2.81B
+20.5% YoY
3.39B
3.39B – 3.39B
+20.8% YoY
3.78B
3.78B – 3.79B
+11.6% YoY
4.23B
4.22B – 4.23B
+11.7% YoY
EBIT
792.62M
est: 493.96M (+60.5%)
739.77M
est: 693.09M (+6.7%)
791.77M
est: 653.44M (+21.2%)
720.43M
est: 703.30M (+2.4%)
987.25M
est: 611.96M (+61.3%)
1.02B
est: 905.41M (+13.1%)
1.12B
est: 830.26M (+34.5%)
1.32B
est: 876.93M (+50.9%)
1.57B
est: 1.04B (+50.7%)
1.52B
est: 1.29B (+17.9%)
1.34B
est: 1.03B (+30.1%)
1.14B
est: 943.41M (+20.9%)
1.54B
est: 1.02B (+50.1%)
1.83B
est: 1.08B (+68.4%)
2.10B
est: 1.99B (+5.8%)
2.39B
est: 2.17B (+9.9%)
2.62B
2.61B – 2.62B
+20.5% YoY
3.16B
3.16B – 3.16B
+20.8% YoY
3.53B
3.52B – 3.53B
+11.6% YoY
3.94B
3.94B – 3.94B
+11.7% YoY
Net Income
534.76M
est: 448.52M (+19.2%)
480.82M
est: 654.88M (-26.6%)
540.09M
est: 514.94M (+4.9%)
591.55M
est: 656.61M (-9.9%)
689.30M
est: 668.83M (+3.1%)
654.49M
est: 783.56M (-16.5%)
762.44M
est: 708.56M (+7.6%)
885.68M
est: 730.23M (+21.3%)
1.01B
est: 835.53M (+20.5%)
1.05B
est: 1.07B (-1.7%)
961.75M
est: 1.01B (-4.6%)
816.60M
est: 1.02B (-19.8%)
1.12B
est: 1.10B (+1.6%)
1.35B
est: 1.17B (+15.5%)
1.51B
est: 1.47B (+3.1%)
1.70B
est: 1.69B (+0.7%)
1.82B
1.80B – 1.94B
+7.5% YoY
2.21B
2.20B – 2.21B
+21.5% YoY
2.55B
2.47B – 2.63B
+15.8% YoY
2.79B
2.78B – 2.79B
+9.1% YoY
SGA
124.92M
est: 854.02M (-85.4%)
300.35M
est: 1.00B (-70.0%)
123.52M
est: 1.11B (-88.8%)
268.63M
est: 1.50B (-82.1%)
162.18M
est: 1.69B (-90.4%)
191.77M
est: 2.07B (-90.7%)
164.32M
est: 2.40B (-93.1%)
179.89M
est: 2.28B (-92.1%)
114.05M
est: 2.16B (-94.7%)
142.69M
est: 2.04B (-93.0%)
264.50M
est: 1.54B (-82.8%)
178.73M
est: 2.38B (-92.5%)
155.21M
est: 2.58B (-94.0%)
163.81M
est: 2.73B (-94.0%)
13.85M
est: 122.42M (-88.7%)
219.67M
est: 133.80M (+64.2%)
161.25M
161.04M – 161.45M
+20.5% YoY
194.73M
194.57M – 194.89M
+20.8% YoY
217.36M
217.02M – 217.70M
+11.6% YoY
242.75M
242.55M – 242.95M
+11.7% YoY
EPS
53.48
est: 47.94 (+11.6%)
48.11
est: 58.82 (-18.2%)
54.01
est: 58.34 (-7.4%)
59.16
est: 53.45 (+10.7%)
68.93
est: 69.56 (-0.9%)
66.77
est: 79.65 (-16.2%)
77.56
est: 84.18 (-7.9%)
89.95
est: 70.85 (+27.0%)
102.39
est: 97.33 (+5.2%)
106.63
est: 112.90 (-5.6%)
99.98
est: 93.10 (+7.4%)
84.89
est: 100.60 (-15.6%)
116.74
est: 112.20 (+4.0%)
140.59
est: 140.90 (-0.2%)
157.07
est: 152.09 (+3.3%)
176.71
est: 175.10 (+0.9%)
194.00
186.41 – 201.59
+10.8% YoY
228.86
228.61 – 229.10
+18.0% YoY
264.57
256.14 – 273.00
+15.6% YoY
289.00
288.69 – 289.31
+9.2% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-26 B+ 3/5 4/5 4/5 5/5 3/5 1/5 1/5
2026-05-25 B+ 3/5 4/5 4/5 5/5 3/5 1/5 1/5
2026-05-22 B+ 3/5 4/5 4/5 5/5 3/5 1/5 1/5
2026-05-21 C- 1/5 4/5 1/5 1/5 1/5 1/5 1/5
2026-05-20 C- 1/5 4/5 1/5 1/5 1/5 1/5 1/5
2026-05-19 C- 1/5 4/5 1/5 1/5 1/5 1/5 1/5
2026-05-18 C- 1/5 4/5 1/5 1/5 1/5 1/5 1/5
2026-05-15 C- 1/5 4/5 1/5 1/5 1/5 1/5 1/5
2026-05-14 C- 1/5 4/5 1/5 1/5 1/5 1/5 1/5
2026-05-13 C- 1/5 4/5 1/5 1/5 1/5 1/5 1/5
2026-05-12 C- 1/5 4/5 1/5 1/5 1/5 1/5 1/5
2026-05-11 C- 1/5 4/5 1/5 1/5 1/5 1/5 1/5
2026-05-08 C- 1/5 4/5 1/5 1/5 1/5 1/5 1/5
2026-05-07 C- 1/5 4/5 1/5 1/5 1/5 1/5 1/5
2026-05-06 C- 1/5 4/5 1/5 1/5 1/5 1/5 1/5
2026-05-05 C- 1/5 4/5 1/5 1/5 1/5 1/5 1/5
2026-05-04 C- 1/5 4/5 1/5 1/5 1/5 1/5 1/5
2026-04-30 C- 1/5 4/5 1/5 1/5 1/5 1/5 1/5
2026-04-29 C- 1/5 4/5 1/5 1/5 1/5 1/5 1/5
2026-04-28 C- 1/5 4/5 1/5 1/5 1/5 1/5 1/5
2026-04-27 C- 1/5 4/5 1/5 1/5 1/5 1/5 1/5
2026-04-24 C- 1/5 4/5 1/5 1/5 1/5 1/5 1/5
2026-04-23 C- 1/5 4/5 1/5 1/5 1/5 1/5 1/5
2026-04-22 C- 1/5 4/5 1/5 1/5 1/5 1/5 1/5
2026-04-21 C- 1/5 4/5 1/5 1/5 1/5 1/5 1/5
2026-04-20 C- 1/5 4/5 1/5 1/5 1/5 1/5 1/5
2026-04-17 C- 1/5 4/5 1/5 1/5 1/5 1/5 1/5
2026-04-16 C- 1/5 4/5 1/5 1/5 1/5 1/5 1/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
99.36M
OE per share TTM
10.33
Owner's Yield
0.19%
Maintenance CapEx ratio
2.38%
Maint CapEx / Avg PPE
10.4%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
—
Total invested
—
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock Held by 4 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 State Street SPDR S&P Emerging Markets Small Cap ETF EWX 0.02% 119.3K 0.65%
2 Dimensional - Emerging Markets Core Equity 2 ETF DFEM 0.00% 157.8K 0.39%
3 Dimensional World ex U.S. Core Equity 2 ETF DFAX 0.00% 82.5K 0.28%
4 Dimensional - Emerging Core Equity Market ETF DFAE 0.00% 24.2K 0.29%

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
1.51M
Shares Outstanding
9.62M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Ramnath Krishnan MD, Group Chief Executive Officer & Director 60M male
Venkatesh Viswanathan Group Chief Financial Officer & Chief Investor Relations Officer 21M male
Amit Kumar Gupta General Counsel 20M male
S. Shakeb Rahman Company Secretary & Compliance Officer 6M male
L. Shivakumar Executive Vice President of Business Development & Chief Business Officer — male
Naznin Prodhani Head Media & Communications — —
K. Ravichandran Executive Vice President & Chief Rating Officer — male
Sheetal Sandhu Group Human Resources Head — female
Anand Iyer Group Chief Technology Officer — male
Jayanta Roy Senior Vice-President — male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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These are community opinions and do not constitute buy or sell advice to act on. The results shown are based on aggregated opinions and are not an investment recommendation, nor do they intend to influence any investment decision.

Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits

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