| Revenue growth | Ratings H1 up 15.2%; non-ratings flat near ₹80 Cr/quarter. |
|---|---|
| Margins | Ratings margin 37.6% in FY26, up from 20.8% in FY21; risk-analytics margins compressing by design. |
| Demand visibility | Bank credit growth about 21% in H1; bond issuance low single digit; H2 expected buoyant. |
| Management confidence | Balanced; deflects market share and Moody's questions with timing explanations. |
Growth
Management cites 15.2% H1 ratings growth; non-ratings run-rate flat near ₹80 Cr per quarter. Anchor client share cut to about 51%.
Outlook
No numeric guidance given. Basel III risk-weight reset called positive but unquantified. Buyback or special dividend under consideration, no decision.
Risks
Bond-yield-driven ratings slowdown, flat Moody's revenue, bank-tech H1 moderation, margin compression from mix shift, and D2K/Fintelix losses.
Earnings Call Transcript filed with NSE, NSE: ICRA. Summary written with AI assistance from the document.
ICRA Ltd: key numbers
- Share price
- ₹4,426.00
- Market cap
- ₹4,272 Cr
- Revenue (annual)
- ₹599.5 Cr
- Net profit (annual)
- ₹181.5 Cr
- P/E (TTM)
- 21.4×Sector 19.4×
- Promoter holding
- 51.87%+0.00% QoQ
- FII holding
- 8.01%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from ICRA Ltd
All →ICRA Investor Presentation: Key Takeaways
Q2 FY27 revenue ₹177.9 Cr (+30.2%), PAT ₹52.4 Cr (+9.2%); H1 revenue ₹341.2 Cr (+30.7%), PAT ₹108.9 Cr (+20.0%). Growth led by Ratings and Fintellix-driven R&A.
ICRA Results Update
ICRA reported Q2 FY2027 consolidated revenue up 30.2% to Rs 177.9 crore and PAT up 9.2%. Half-year revenue rose 30.7% and PAT rose 20.0%.
ICRA Q2 FY27 Results: Net Profit ₹52.4 Cr, Up 9.2% YoY
ICRA Ltd reported revenue from operations of ₹177.9 Cr (+30.2% YoY) and net profit of ₹52.4 Cr (+9.2% YoY) for Q2 FY27.
- Key figure
- Net profit ₹52.4 Cr · +9.2% YoY
ICRA Board Meeting Date
ICRA Limited has scheduled a board meeting on October 29, 2026, to consider and approve the company's unaudited standalone and consolidated financial results.
ICRA Other Announcement
ICRA Ltd has filed its quarterly shareholding pattern as mandated by SEBI regulations. This routine disclosure reports current promoter and public shareholding positions.
ICRA Management Change
ICRA appointed Mr. Ritesh Gupta as Executive Vice President & Chief Business Officer-Designate, effective October 12, 2026. He succeeds Mr. L. Shivakumar, who retires December 31, 2026.