About ICRA
ICRA is a publicly listed company based in Gurugram (India) founded in 1991, and was acquired by Moody's in June 2014. Investment research services are provided in the financial sector. The company has 1,230 employees. ICRA has completed 2 acquisitions, including D2K Technologies India and Fintellix. Its chief executive, as recorded, is Jayanta Chatterjee. Its website icra.in draws about 171 thousand monthly visits. Its Indian entity Icra Limited reported revenue of βΉ675 Cr. Its focus areas include Investment Industry and Investment Research Services.
Company details
ICRA provider of investment research services, focusing on investment industry, and investment research services. It serves clients with dedicated solutions, emphasizing quality, innovation, and sustainable growth in its core markets. It continues to evolve, meeting industry challenges with strategic approaches.
- Market Cap₹4,325 Cr
ICRA · NSE
- Share Price₹4,472.40
-0.19% today
- Revenue₹600 Cr
FY 2025-26 · +20.4% YoY
- EBITDA₹208 Cr
Margin 34.7%
- Net Profit₹187 Cr
FY 2025-26 · +9.8% YoY
- P/E (TTM)22.0x
P/B 3.7x
- ROE16.3%
ROCE 22.0%
- Debt / Equity0.01
Interest cover 2.5x
- Investors
- Employee Count1,230
- Investments & AcquisitionsD2K Technologies India
& 1 more
- Acquired byMoody's
(Jun 2014)
Associated legal entities of ICRA
ICRA operates through Icra Limited, a listed company (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2026) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Icra Limited Listed CIN L74999DL1991PLC042749 | Active | 16 Jan 1991 | New Delhi, Delhi | ₹675 Cr | 472 | 11 | View details |
Investors in ICRA
ICRA has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include Moody's.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Financial databases for credit ratings and analytics are maintained. | 1909 | moodys.com | New York, United States |
Investor details for ICRA
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Icra Limited (ICRA)
Icra Limited is the primary company behind ICRA. The board of Icra Limited currently have 8 directors; the longest-serving is Wendy Huay Huay Cheong, appointed in 2020. 31 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Wendy Huay Huay Cheong DIN 08927070 | Director | 06 Nov 2020 | 5 yrs 11 mo | Icra Limited |
| Shivani Priya Mohini Kak DIN 09486147 | Director | 18 Feb 2022 | 4 yrs 8 mo | Icra Limited |
| Ramnath Krishnan DIN 09371341 | Managing Director | 26 Mar 2022 | 4 yrs 6 mo | Icra Limited |
| Stephen Arthur Long DIN 09595066 | Director | 13 May 2022 | 4 yrs 5 mo | Icra Limited |
| Brian Joseph Cahill DIN 10615493 | Director | 01 Aug 2024 | 2 yrs 2 mo | Icra Limited |
| Pradip Manilal Kanakia DIN 00770347 | Director | 01 Nov 2024 | 1 yr 11 mo | Icra Limited |
| Palamadai Sundararajan Jayakumar DIN 01173236 | Director | 01 Nov 2024 | 1 yr 11 mo | Icra Limited |
| Anuranjita Kumar DIN 05283847 | Director | 01 Dec 2024 | 1 yr 10 mo | Icra Limited |
People of ICRA
33 people are tracked at ICRA (17 in leadership, 16 in team); the tracked headcount is 1,230.
| Name | Role | Group |
|---|---|---|
Jayanta Chatterjee | CEO & Managing Director | Leadership |
| Group CEO & Managing Director | Leadership | |
N. Sivaraman | CEO & MD | Leadership |
Sonali Sule | Head - Program Management, Business Technology | Leadership |
Pratik Singhania | Vice President | Leadership |
A M Karthik | Senior Vice President And Co Group Head Financial Sector Ratings | Leadership |
Deepayan Ghosh | Assistant Vice President | Leadership |
Anand Iyer | Group CTO | Leadership |
Abhishek Dafria | Senior Vice President & Head Of Group Strategy And Business Transformation | Leadership |
Venkatesh V. | Group CFO | Leadership |
Srinivasan Rangaswamy | Vice President | Leadership |
Sandeep Sharma | Sector Head - Financial Sector Ratings | Leadership |
Jitin Makkar | Senior Vice President And Group Head-corporate Sector Ratings | Leadership |
Sachin Joglekar | Vice President And Co-group Head, Structured Finance | Leadership |
Ritabrata Ghosh | Head - Business Transformation | Leadership |
Anil Gupta | VP - Financial Sector Ratings | Leadership |
Siddharth Iyer | Group Head Information Security & Governance | Leadership |
Saurabh G. | Senior Associate Analyst | Team |
Prameet Barua | Manager - Business Development | Team |
Chandni Goyal | Analyst | Team |
13 more people are available in the full profile.
Complete people profiles for ICRA
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
IPO & Listings of ICRA
ICRA is a publicly listed company on the NSE with ticker symbol ICRA in India, operating in the Commercial services sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
- IPO date13 Apr 2007
- Listed onBSE: 532835 · NSE: ICRA
- Listed entityICRA Limited
- Exchange sectorCommercial services
- ISININE725G01011
- Share price₹4,548.80 (-0.62% on the day) · 2026-10-14
- Market capitalisation₹4,414 Cr
- Price to earnings22.5
- EPS (diluted, trailing year)₹202.54
- Dividend yield1.53%
- Volume (last session)12,805
Financials of ICRA
Exchange-reported figures of Icra Limited, the listed company behind ICRA (NSE: ICRA).
Financial Highlights
FY 2025-26 Β· ConsolidatedRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 600 | 498 | 446 | 403 | 343 | 301 | 321 |
| Revenue growth | +20.4% | +11.6% | +10.6% | +17.6% | +13.9% | -6.2% | - |
| EBITDA | 208 | 178 | 149 | 143 | 121 | 81.14 | 95.84 |
| EBITDA margin | +34.7% | +35.7% | +33.3% | +35.4% | +35.2% | +27.0% | +29.9% |
| Profit before tax | 250 | 234 | 200 | 181 | 152 | 112 | 131 |
| Net profit | 187 | 170 | 151 | 135 | 112 | 80.96 | 96.32 |
| Net profit margin | +31.2% | +34.1% | +33.8% | +33.5% | +32.8% | +26.9% | +30.0% |
| EPS (βΉ) | 188.08 | 176.15 | 156.56 | 140.12 | 116.35 | 84.61 | 99.65 |
| Balance sheet | |||||||
| Total assets | 1,218 | 1,109 | 1,034 | 972 | 866 | 783 | 731 |
| Net worth | 1,181 | 1,053 | 976 | 950 | 844 | 758 | 702 |
| Total debt | 18.41 | 13.14 | 12.68 | 13.03 | 14.03 | 16.96 | 0.00 |
| Cash & bank | 42.49 | 282 | 156 | 242 | 310 | 399 | 527 |
| Net working capital | (34.73) | 186 | 85.47 | 173 | 261 | 363 | 525 |
| Cash flow | |||||||
| Cash from operations | 157 | 145 | 107 | 99.26 | 97.38 | 76.38 | 21.32 |
| Cash from investing | (95.49) | (16.89) | 27.53 | (76.89) | (71.87) | (32.11) | 11.15 |
| Cash from financing | (66.91) | (103) | (137) | (32.13) | (32.03) | (32.03) | (40.68) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 163 | 175 | 164 | 137 | 124 | 136 | 121 | 126 |
| Revenue growth (YoY) | +31.2% | +28.4% | +35.3% | +8.3% | +8.4% | - | - | - |
| Other income | 32.01 | 14.18 | 15.57 | 20.91 | 24.36 | 20.62 | 18.85 | 20.05 |
| EBITDA | 55.10 | 69.56 | 50.27 | 48.53 | 39.75 | 59.16 | 42.16 | 41.26 |
| EBITDA margin | +33.7% | +39.8% | +30.7% | +35.5% | +31.9% | +43.4% | +34.9% | +32.7% |
| Depreciation | 10.54 | 10.00 | 9.96 | 4.21 | 4.09 | 4.48 | 4.19 | 4.01 |
| Interest | 0.45 | 0.94 | 0.98 | 0.87 | 1.65 | 1.24 | 1.07 | 0.34 |
| Profit before tax | 76.12 | 72.80 | 54.90 | 64.36 | 58.37 | 74.06 | 55.75 | 56.96 |
| Tax | 19.66 | 20.11 | 15.85 | 16.34 | 15.61 | 18.07 | 13.53 | 19.85 |
| Net profit | 56.46 | 52.69 | 39.05 | 48.02 | 42.76 | 55.99 | 42.22 | 37.11 |
| EPS (βΉ) | 58.27 | 54.43 | 40.27 | 49.57 | 44.05 | 57.86 | 43.63 | 38.11 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 328 | 287 | 251 | 223 | 195 | 181 | 208 |
| Revenue growth | +14.5% | +14.1% | +12.9% | +14.3% | +7.4% | -12.8% | - |
| EBITDA | 117 | 96.55 | 67.63 | 59.94 | 54.77 | 42.31 | 58.51 |
| EBITDA margin | +35.6% | +33.7% | +26.9% | +26.9% | +28.1% | +23.3% | +28.2% |
| Profit before tax | 171 | 189 | 147 | 117 | 93.34 | 71.65 | 92.04 |
| Net profit | 128 | 148 | 123 | 95.87 | 69.64 | 52.20 | 64.96 |
| Net profit margin | +39.1% | +51.7% | +48.8% | +43.1% | +35.8% | +28.8% | +31.3% |
| EPS (βΉ) | 131.29 | 153.55 | 127.61 | 99.40 | 75.96 | 54.86 | 67.33 |
| Balance sheet | |||||||
| Total assets | 894 | 817 | 752 | 750 | 680 | 632 | 600 |
| Net worth | 885 | 804 | 741 | 737 | 665 | 615 | 583 |
| Total debt | 7.67 | 11.27 | 10.04 | 12.95 | 13.81 | 16.02 | 0.00 |
| Cash & bank | 12.33 | 174 | 95.37 | 119 | 207 | 323 | 435 |
| Net working capital | (46.06) | 82.90 | 13.50 | 41.56 | 152 | 270 | 415 |
| Cash flow | |||||||
| Cash from operations | 102 | 93.73 | 56.52 | 52.54 | 38.80 | 52.78 | 2.97 |
| Cash from investing | (32.52) | 10.14 | 70.71 | (23.51) | (14.12) | (11.79) | 24.28 |
| Cash from financing | (62.94) | (101) | (130) | (31.10) | (30.29) | (29.95) | (38.43) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 81.79 | 89.40 | 84.57 | 82.06 | 72.20 | 80.62 | 70.83 | 72.08 |
| Revenue growth (YoY) | +13.3% | +10.9% | +19.4% | +13.9% | +14.2% | - | - | - |
| Other income | 22.64 | 11.90 | 14.47 | 15.90 | 22.18 | 19.63 | 19.56 | 46.16 |
| Total expenses | 54.36 | 49.71 | 55.64 | 53.74 | 52.38 | 44.48 | 48.30 | 50.90 |
| EBITDA | 27.43 | 39.69 | 28.93 | 28.32 | 19.82 | 36.14 | 22.53 | 21.18 |
| EBITDA margin | +33.5% | +44.4% | +34.2% | +34.5% | +27.5% | +44.8% | +31.8% | +29.4% |
| Depreciation | 2.17 | 2.37 | 2.37 | 2.17 | 2.07 | 2.18 | 2.07 | 1.96 |
| Interest | 0.18 | 0.21 | 0.25 | 0.25 | 0.27 | 0.45 | 0.46 | 0.42 |
| Profit before tax | 47.72 | 49.01 | 40.78 | 41.80 | 39.66 | 53.14 | 39.56 | 64.96 |
| Tax | 12.63 | 12.62 | 11.53 | 10.89 | 9.52 | 11.08 | 8.45 | 14.64 |
Financial Statements
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 163 | 175 | 164 | 137 | 124 | 136 | 121 | 126 |
| Revenue growth (YoY) | +31.2% | +28.4% | +35.3% | +8.3% | +8.4% | - | - | - |
| Other income | 32.01 | 14.18 | 15.57 | 20.91 | 24.36 | 20.62 | 18.85 | 20.05 |
| EBITDA | 55.10 | 69.56 | 50.27 | 48.53 | 39.75 | 59.16 | 42.16 | 41.26 |
| EBITDA margin | +33.7% | +39.8% | +30.7% | +35.5% | +31.9% | +43.4% | +34.9% | +32.7% |
| Depreciation | 10.54 | 10.00 | 9.96 | 4.21 | 4.09 | 4.48 | 4.19 | 4.01 |
| Interest | 0.45 | 0.94 | 0.98 | 0.87 | 1.65 | 1.24 | 1.07 | 0.34 |
| Profit before tax | 76.12 | 72.80 | 54.90 | 64.36 | 58.37 | 74.06 | 55.75 | 56.96 |
| Tax | 19.66 | 20.11 | 15.85 | 16.34 | 15.61 | 18.07 | 13.53 | 19.85 |
| Net profit | 56.46 | 52.69 | 39.05 | 48.02 | 42.76 | 55.99 | 42.22 | 37.11 |
| EPS (βΉ) | 58.27 | 54.43 | 40.27 | 49.57 | 44.05 | 57.86 | 43.63 | 38.11 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 600 | 498 | 446 | 403 | 343 | 301 | 321 |
| Revenue growth | +20.4% | +11.6% | +10.6% | +17.6% | +13.9% | -6.2% | - |
| Other income | 75.02 | 77.41 | 74.97 | 49.55 | 40.88 | 42.85 | 47.97 |
| Total expenses | 391 | 320 | 297 | 260 | 222 | 220 | 225 |
| Employee cost | 310 | 261 | 240 | 208 | 179 | 172 | 162 |
| EBITDA | 208 | 178 | 149 | 143 | 121 | 81.14 | 95.84 |
| EBITDA margin | +34.7% | +35.7% | +33.3% | +35.4% | +35.2% | +27.0% | +29.9% |
| Depreciation | 28.26 | 16.39 | 13.46 | 9.83 | 7.81 | 9.92 | 10.29 |
| Interest | 4.43 | 4.80 | 10.41 | 1.41 | 1.56 | 2.06 | 2.04 |
| Profit before tax | 250 | 234 | 200 | 181 | 152 | 112 | 131 |
| Tax | 67.92 | 62.76 | 47.62 | 44.50 | 38.55 | 29.33 | 34.24 |
| Net profit | 187 | 170 | 151 | 135 | 112 | 80.96 | 96.32 |
| Net profit margin | +31.2% | +34.1% | +33.8% | +33.5% | +32.8% | +26.9% | +30.0% |
| EPS (βΉ) | 188.08 | 176.15 | 156.56 | 140.12 | 116.35 | 84.61 | 99.65 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 9.65 | 9.65 | 9.65 | 9.65 | 9.65 | 9.65 | 9.65 |
| Reserves & surplus | 1,171 | 1,044 | 967 | 941 | 834 | 748 | 692 |
| Shareholders' funds (net worth) | 1,181 | 1,053 | 976 | 950 | 844 | 758 | 702 |
| Minority interest | 4.40 | 4.42 | 4.49 | 4.65 | 4.11 | 3.29 | 2.59 |
| Secured loans | 0.63 | 1.16 | 1.80 | 0.00 | 0.00 | 0.00 | 0.00 |
| Unsecured loans | 17.78 | 11.98 | 10.88 | 13.03 | 14.03 | 16.96 | 0.00 |
| Total debt | 18.41 | 13.14 | 12.68 | 13.03 | 14.03 | 16.96 | 0.00 |
| Total liabilities | 1,218 | 1,109 | 1,034 | 972 | 866 | 783 | 731 |
| Assets | |||||||
| Gross block | 396 | 155 | 144 | 91.58 | 85.38 | 79.62 | 82.37 |
| Net block | 313 | 89.63 | 91.32 | 47.10 | 45.60 | 46.45 | 54.49 |
| Capital work in progress | 2.23 | 3.51 | 0.91 | 1.34 | 1.55 | 3.41 | 2.04 |
| Investments | 730 | 773 | 813 | 689 | 454 | 177 | 104 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sundry debtors | 78.41 | 47.59 | 51.09 | 38.05 | 26.50 | 47.51 | 57.19 |
| Cash & bank balances | 42.49 | 282 | 156 | 242 | 310 | 399 | 527 |
| Loans & advances | 80.79 | 29.50 | 26.59 | 22.54 | 37.16 | 29.03 | 56.47 |
| Total current assets | 202 | 359 | 233 | 302 | 374 | 476 | 640 |
| Total current liabilities | 236 | 173 | 148 | 129 | 113 | 113 | 115 |
| Net working capital | (34.73) | 186 | 85.47 | 173 | 261 | 363 | 525 |
| Total assets | 1,218 | 1,109 | 1,034 | 972 | 866 | 783 | 731 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 34.86 | 9.98 | 12.16 | 21.92 | 28.45 | 16.21 | 24.42 |
| Net cash from operating activities | 157 | 145 | 107 | 99.26 | 97.38 | 76.38 | 21.32 |
| Net cash from investing activities | (95.49) | (16.89) | 27.53 | (76.89) | (71.87) | (32.11) | 11.15 |
| Net cash from financing activities | (66.91) | (103) | (137) | (32.13) | (32.03) | (32.03) | (40.68) |
| Net change in cash | (5.14) | 24.88 | (2.17) | (9.76) | (6.53) | 12.24 | (8.21) |
| Closing cash | 42.49 | 282 | 156 | 242 | 310 | 399 | 527 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +20.4% | +11.6% | +10.6% | +17.6% | +13.9% | -6.2% | - |
| EBITDA growth | +17.1% | +19.5% | +4.1% | +18.5% | +48.6% | -15.3% | - |
| PBT growth | +7.0% | +17.1% | +10.3% | +19.2% | +35.8% | -14.8% | -13.5% |
| Net income growth | +9.8% | +12.9% | +11.4% | +20.3% | +38.8% | -16.0% | - |
| Revenue CAGR (3Y) | +14.1% | +13.3% | +14.0% | +7.9% | +1.5% | -0.9% | -1.2% |
| EBITDA CAGR (3Y) | +13.4% | +13.8% | +22.4% | +14.3% | +2.2% | -11.0% | -1.8% |
| Profitability & leverage | |||||||
| Net income margin | +30.4% | +34.4% | +34.1% | +33.9% | +33.1% | +27.5% | +30.3% |
| Return on capital employed | +22.0% | +22.4% | +21.1% | +20.0% | +18.7% | +15.1% | +19.4% |
| Return on net worth | +16.3% | +16.9% | +15.8% | +15.2% | +14.2% | +11.3% | +14.5% |
| Debt / equity | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.01 | 0.00 |
| Long-term debt / equity | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.01 | 0.00 |
| Interest cover | 2.46 | 2.97 | 7.69 | 1.06 | 1.38 | 2.89 | 2.38 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 2.18 | 3.33 | 3.78 | 4.56 | 4.16 | 3.72 | 4.77 |
| Inventory turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debtors turnover | 9.52 | 10.09 | 10.01 | 12.49 | 9.26 | 5.75 | 7.06 |
| EPS (βΉ) | 188.08 | 176.15 | 156.56 | 140.12 | 116.35 | 84.61 | 99.65 |
| Dividend per share (βΉ) | 105.00 | 60.00 | 100.00 | 130.00 | 28.00 | 27.00 | 27.00 |
| Book value per share (βΉ) | 1,223.41 | 1,091.29 | 1,011.78 | 984.62 | 874.10 | 785.11 | 726.97 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 81.79 | 89.40 | 84.57 | 82.06 | 72.20 | 80.62 | 70.83 | 72.08 |
| Revenue growth (YoY) | +13.3% | +10.9% | +19.4% | +13.9% | +14.2% | - | - | - |
| Other income | 22.64 | 11.90 | 14.47 | 15.90 | 22.18 | 19.63 | 19.56 | 46.16 |
| Total expenses | 54.36 | 49.71 | 55.64 | 53.74 | 52.38 | 44.48 | 48.30 | 50.90 |
| EBITDA | 27.43 | 39.69 | 28.93 | 28.32 | 19.82 | 36.14 | 22.53 | 21.18 |
| EBITDA margin | +33.5% | +44.4% | +34.2% | +34.5% | +27.5% | +44.8% | +31.8% | +29.4% |
| Depreciation | 2.17 | 2.37 | 2.37 | 2.17 | 2.07 | 2.18 | 2.07 | 1.96 |
| Interest | 0.18 | 0.21 | 0.25 | 0.25 | 0.27 | 0.45 | 0.46 | 0.42 |
| Profit before tax | 47.72 | 49.01 | 40.78 | 41.80 | 39.66 | 53.14 | 39.56 | 64.96 |
| Tax | 12.63 | 12.62 | 11.53 | 10.89 | 9.52 | 11.08 | 8.45 | 14.64 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 328 | 287 | 251 | 223 | 195 | 181 | 208 |
| Revenue growth | +14.5% | +14.1% | +12.9% | +14.3% | +7.4% | -12.8% | - |
| Other income | 64.45 | 102 | 90.96 | 65.57 | 45.42 | 36.32 | 40.57 |
| Total expenses | 211 | 190 | 184 | 163 | 140 | 139 | 149 |
| Employee cost | 161 | 150 | 145 | 123 | 111 | 110 | 105 |
| EBITDA | 117 | 96.55 | 67.63 | 59.94 | 54.77 | 42.31 | 58.51 |
| EBITDA margin | +35.6% | +33.7% | +26.9% | +26.9% | +28.1% | +23.3% | +28.2% |
| Depreciation | 8.98 | 7.92 | 7.99 | 7.03 | 5.34 | 5.25 | 5.38 |
| Interest | 0.97 | 1.72 | 3.77 | 1.34 | 1.51 | 1.73 | 1.66 |
| Profit before tax | 171 | 189 | 147 | 117 | 93.34 | 71.65 | 92.04 |
| Tax | 44.55 | 40.76 | 23.68 | 21.20 | 20.04 | 18.71 | 27.08 |
| Net profit | 128 | 148 | 123 | 95.87 | 69.64 | 52.20 | 64.96 |
| Net profit margin | +39.1% | +51.7% | +48.8% | +43.1% | +35.8% | +28.8% | +31.3% |
| EPS (βΉ) | 131.29 | 153.55 | 127.61 | 99.40 | 75.96 | 54.86 | 67.33 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 9.65 | 9.65 | 9.65 | 9.65 | 9.65 | 9.65 | 9.65 |
| Reserves & surplus | 875 | 795 | 732 | 727 | 655 | 605 | 573 |
| Shareholders' funds (net worth) | 885 | 804 | 741 | 737 | 665 | 615 | 583 |
| Secured loans | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Unsecured loans | 7.67 | 11.27 | 10.04 | 12.95 | 13.81 | 16.02 | 0.00 |
| Total debt | 7.67 | 11.27 | 10.04 | 12.95 | 13.81 | 16.02 | 0.00 |
| Total liabilities | 894 | 817 | 752 | 750 | 680 | 632 | 600 |
| Assets | |||||||
| Gross block | 62.31 | 62.87 | 52.87 | 51.75 | 47.31 | 41.47 | 41.04 |
| Net block | 25.19 | 26.31 | 23.14 | 26.83 | 25.53 | 24.87 | 28.81 |
| Capital work in progress | 0.58 | 1.33 | 0.91 | 1.23 | 0.55 | 2.33 | 1.88 |
| Investments | 739 | 656 | 682 | 658 | 481 | 204 | 131 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sundry debtors | 28.22 | 26.45 | 23.09 | 12.77 | 10.21 | 15.99 | 33.39 |
| Cash & bank balances | 12.33 | 174 | 95.37 | 119 | 207 | 323 | 435 |
| Loans & advances | 49.94 | 12.01 | 12.12 | 10.74 | 21.93 | 14.79 | 30.42 |
| Total current assets | 90.49 | 212 | 131 | 142 | 239 | 354 | 499 |
| Total current liabilities | 137 | 129 | 117 | 100 | 87.14 | 84.35 | 83.94 |
| Net working capital | (46.06) | 82.90 | 13.50 | 41.56 | 152 | 270 | 415 |
| Total assets | 894 | 817 | 752 | 750 | 680 | 632 | 600 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 4.78 | 2.18 | 4.84 | 6.91 | 12.52 | 1.48 | 12.66 |
| Net cash from operating activities | 102 | 93.73 | 56.52 | 52.54 | 38.80 | 52.78 | 2.97 |
| Net cash from investing activities | (32.52) | 10.14 | 70.71 | (23.51) | (14.12) | (11.79) | 24.28 |
| Net cash from financing activities | (62.94) | (101) | (130) | (31.10) | (30.29) | (29.95) | (38.43) |
| Net change in cash | 6.71 | 2.59 | (2.66) | (2.07) | (5.61) | 11.04 | (11.18) |
| Closing cash | 12.33 | 174 | 95.37 | 119 | 207 | 323 | 435 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +14.5% | +14.1% | +12.9% | +14.3% | +7.4% | -12.8% | - |
| EBITDA growth | +20.9% | +42.8% | +12.8% | +9.4% | +29.5% | -27.7% | - |
| PBT growth | -9.4% | +28.7% | +25.4% | +25.5% | +30.3% | -22.2% | -29.8% |
| Net income growth | -13.4% | +20.8% | +27.9% | +37.7% | +33.4% | -19.6% | - |
| Revenue CAGR (3Y) | +13.8% | +13.8% | +11.5% | +2.3% | -5.4% | -6.6% | -0.5% |
| EBITDA CAGR (3Y) | +24.9% | +20.8% | +16.9% | +0.8% | -15.0% | -24.4% | -10.5% |
| Profitability & leverage | |||||||
| Net income margin | +38.6% | +51.7% | +49.0% | +43.1% | +37.6% | +29.2% | +31.3% |
| Return on capital employed | +20.1% | +24.3% | +20.0% | +16.6% | +14.5% | +11.9% | +16.3% |
| Return on net worth | +15.0% | +19.2% | +16.7% | +13.7% | +11.5% | +8.9% | +11.5% |
| Debt / equity | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | 0.01 | 0.00 |
| Long-term debt / equity | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.01 | 0.00 |
| Interest cover | 0.90 | 1.94 | 6.32 | 2.53 | 3.05 | 4.67 | 3.12 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 5.24 | 4.95 | 4.80 | 4.49 | 4.39 | 4.39 | 7.06 |
| Inventory turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debtors turnover | 12.01 | 11.58 | 14.01 | 19.37 | 14.86 | 7.34 | 7.87 |
| EPS (βΉ) | 131.29 | 153.55 | 127.61 | 99.40 | 75.96 | 54.86 | 67.33 |
| Dividend per share (βΉ) | 105.00 | 60.00 | 100.00 | 130.00 | 28.00 | 27.00 | 27.00 |
| Book value per share (βΉ) | 917.10 | 833.44 | 768.23 | 763.21 | 688.81 | 636.79 | 603.58 |
Investments & Acquisitions by ICRA
ICRA has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include D2K Technologies India and Fintellix.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Cloud-based financial risk management solutions are offered for banking. | fintellix.com | Bengaluru, India | 2006 | Jun 2025 | $26M | |
Banking software solutions and digital transformation services are provided. | d2ktechnologies.com | Mumbai, India | 2001 | Oct 2023 | β’β’β’β’ |
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Timeline of ICRA
5 dated milestones of ICRA across 34 years, from founding to its latest funding, stage changes and deals.
- Founded ICRA is founded.
- IPO Lists on the stock exchange (IPO).
- Exit Acquired by Moody's.
- Acquisition Acquires D2K Technologies India.
- Acquisition Acquires Fintellix.
Web traffic of ICRA
The website of ICRA (icra.in) receives about 171K visits a month and ranks #274,567 among all websites worldwide, #2,935 in Investing.
- Monthly visits171K
▲ 2.5% vs previous month
- Unique visitors90.8K
per month
- Global rank#274,567
among all websites
- Category rank#2,935
Finance · Investing
- Bounce rate63%
- Pages per visit1.7
- Average visit40 sec
- DevicesDesktop 48% Β· Mobile 52%
Websites whose visitors overlap most with ICRA. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| crisil.com | 100% | 443.3K | #125,844 | View details | |
| careratings.com | 91% | 150.1K | View details | ||
| crisilratings.com | 77% | 200K | #260,054 | View details | |
| indiaratings.co.in | 72% | 69.5K | #585,734 | View details | |
| icraonline.com | 66% | View details | |||
| β’β’β’β’β’β’β’β’β’β’ | β’β’β’β’β’β’.com | β’β’% | β’.β’M | #β’β’β’β’β’ | β |
| β’β’β’β’β’β’β’β’β’β’ | β’β’β’β’β’β’.com | β’β’% | β’.β’M | #β’β’β’β’β’ | β |
| β’β’β’β’β’β’β’β’β’β’ | β’β’β’β’β’β’.com | β’β’% | β’.β’M | #β’β’β’β’β’ | β |
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Top companies in Investment & Wealth Tech
3 companies that operate in the same segment as ICRA (Investment & Wealth Tech) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Mutual funds, portfolio management, and retirement planning services are offered. | 2001 | Mumbai, Maharashtra, India | USD 142.4 M | USD 180.76 M | 1,840 | |
Investment consultant for future & options and commodities | 1987 | Kochi, Kerala, India | USD 71.52 M | 2,690 | ||
Technology-led financial products and infrastructure services are provided for consumers. | 2021 | Mumbai, Maharashtra, India | USD 145.66 M | USD 1.98 M | 376 |
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Related news about Icra
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Articles about ICRA on our blog
Frequently Asked Questions about ICRA
ICRA was founded in 1991.
ICRA is headquartered in Gurugram, India. It is registered at Gurugram, Haryana, India.
Jayanta Chatterjee is the CEO of ICRA, as recorded in our data.
ICRA has 1,230 employees.
The primary company behind ICRA, Icra Limited, reported revenue of βΉ675 Cr for FY 2026, up 20% year on year.
ICRA provider of investment research services, focusing on investment industry, and investment research services. It serves clients with dedicated solutions, emphasizing quality, innovation, and sustainable growth in its core markets. It continues to evolve, meeting industry challenges with strategic approaches.
Yes, ICRA is publicly traded on NSE under the ticker symbol ICRA.
ICRA has made 2 acquisitions, including D2K Technologies India, and Fintellix.
ICRA has 1 investor. Key investors include Moody's.
ICRA operates through Icra Limited.
Yes. ICRA was acquired by Moody's in June 2014.
The legal entities of ICRA currently have 10 directors, including Pradip Manilal Kanakia, Palamadai Sundararajan Jayakumar, Ramnath Krishnan and others.

