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Earnings Call

ICRA Earnings Call: Key Takeaways

ICRA delivered strong FY26 performance with 20.4% revenue growth, driven by the Fintellix acquisition and ratings momentum. Management focus is on AI-driven research and risk analytics expansion.

Highlights
Revenue growth20.4% YoY for FY26.
MarginsMargin expansion in Ratings; evolving mix in R&A.
Demand visibilityStrong in BankTech/CapTech; cautious on rural demand.
Management confidenceHigh; citing 35 years of service and strategic acquisitions.

Growth

FY26 Revenue grew 20.4% to ₹599.5cr; PAT rose 6.6% to ₹182.5cr. Q4 FY26 revenue increased 28.4% YoY.

Outlook

FY27 GDP growth estimated at 6.2%; Securitisation volume projected at ₹2.6–2.7 lakh crore. Focus on Gen-AI automation.

Risks

West Asia conflict poses downside risks to GDP growth, export demand, and could cause fiscal slippage.

Source

Earnings Call filed with BSE, NSE: ICRA. Summary written with AI assistance from the document.

Read the document ↗

ICRA Ltd: key numbers

Share price
₹4,377.90
Market cap
₹4,225 Cr
Revenue (annual)
₹599.5 Cr
Net profit (annual)
₹181.5 Cr
P/E (TTM)
21.6×Sector 22.0×
Promoter holding
51.87%+0.00% QoQ
FII holding
6.90%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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