About Icra Limited
Data last updated: 22 December 2025
Icra Limited is a public limited company based in New Delhi, Delhi, India. It specialises in credit rating agencies, a part of the broader financial services sector. Incorporated on 16 January 1991, the company has been in operation for over 35 years.
Registered with ROC Delhi under CIN L74999DL1991PLC042749. Listed on BSE: 532835 and NSE: ICRA.
Capital: an authorised share capital of ₹15 Cr and a paid-up capital of ₹9.65 Cr. It is led by directors including Venkatesh Shekaripuram Viswanathan and Anuranjita Kumar.
Last AGM: 31 July 2025. Financial statements filed for year ended 31 March 2025. Office: B – 710 Statesman House 148 Barakhamba Road, New Delhi, Delhi, India – 110001.
As per the financials filed for FY 2025, the company reported a revenue of ₹575.43 Cr, a growth of 10% compared to the previous year.
The company has a workforce of approximately 472 employees as per the latest available data. Its group structure includes 3 subsidiaries.
The company is associated with 3 brands - Icra Analytics, Icra, Moody's.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website icra.in.
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Email*****@*****.com
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Telephone+91-****-******
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Website
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Social Media
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Registered AddressB – 710 Statesman House 148 Barakhamba Road, New Delhi, Delhi, India – 110001
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IndustryFinancial Services, Credit Rating Agencies
- Historical Financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Litigation, compliance and MCA filings
- PDF report delivered after checkout
CIN History of Icra Limited
Icra Limited has one previous CIN (Corporate Identification Number): U74999DL1991PLC042749. The current CIN is L74999DL1991PLC042749, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L74999DL1991PLC042749 | Current |
| U74999DL1991PLC042749 | Previous |
Associated Brands with Icra Limited
Icra Limited operates multiple associated brands including ICRA Analytics, ICRA, and Moody's. These brands represent Icra Limited's diversified market presence and brand portfolio.
| Brand | Description | Website |
|---|---|---|
| Provider of risk management and consulting services | icraanalytics.com | |
| Investment research services are provided in the financial sector. | icra.in | |
| Financial databases for credit ratings and analytics are maintained. | moodys.com |
Competitors & Alternatives of Icra Limited
Brands and companies operating in the same space as Icra Limited include Ipsos, ICF, Fitch Ratings and 7 more.
| Competitor | Description | Location | Founded |
|---|---|---|---|
Ipsos
|
Online market research data is delivered for diverse sectors. | Paris, France, France | 1975 |
ICF
|
IT suite and market research services are provided worldwide. | United States | 1969 |
Fitch Ratings
|
Credit ratings and global financial data are aggregated for investors. | New York, United States, United States | 1913 |
Kroll Bond Rating Agency
|
Credit ratings agency enabling analysis for financial data | New York, United States, United States | 2010 |
NewtonX
|
AI-powered marketplace facilitates expert knowledge access for corporates. | New York, United States, United States | 2016 |
VTT
|
Technology-focused research and consulting services are provided by VTT. | Espoo, Finland, Finland | 1942 |
Ebiquity
|
Data-driven insights for media and marketing performance are provided. | London, United Kingdom, United Kingdom | 1997 |
Acuite Ratings & Research
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Credit rating data is supplied to the investment industry. | Mumbai, India, India | 2005 |
Red Flag Alert
|
Cloud-based data management and business intelligence solutions are offered. | Manchester, United Kingdom, United Kingdom | 2004 |
IntegraFin
|
Financial planning infrastructure is managed by IntegraFin holding company. | London, United Kingdom, United Kingdom | 2014 |
Business Activity of Icra Limited
Icra Limited is engaged in the principal business activity of financial and insurance service, with detailed activities including other financial activities.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| K | Financial and insurance Service | K8 | Other financial activities | ********* |
Auditor Details of Icra Limited
Icra Limited is audited by Deloitte Haskins & Sells (ICAI peer reviewed, certificate valid till 2027-03-31) for the financial year 2026, as reported in its NSE exchange filings. The statutory auditor is responsible for expressing an independent opinion on whether the financial statements present a true and fair view in accordance with applicable accounting standards.
| Name | Financial year | Audit opinion |
|---|---|---|
| Deloitte Haskins & Sells (ICAI peer reviewed, certificate valid till 2027-03-31) | FY 2026 | Declaration of unmodified opinion |
Board of Directors of Icra Limited
Icra Limited is currently managed by 12 directors, with 33 former directors having served the organization. The current Directors play a crucial role in shaping the company's strategic direction and governance.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
|
Venkatesh Shekaripuram Viswanathan
Also directs:
Icra Limited
|
Cfo | 30 Aug 2022 | 3 Years 10 Months | Current |
| Anuranjita Kumar | Director | 01 Dec 2024 | 1 Years 7 Months | Current |
|
Wendy Huay Huay Cheong
Also directs:
Icra Limited
|
Director | 06 Nov 2020 | 5 Years 8 Months | Current |
|
Ramnath Krishnan
Also directs:
Icra Limited, Fintellix India Private Limited
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Managing Director | 26 Mar 2022 | 4 Years 3 Months | Current |
|
Pradip Manilal Kanakia
Also directs:
Healthcare Global Enterprises Limited, Britannia Industries Ltd, Sona Blw Precision Forgings Limited and 5 more
|
Director | 01 Nov 2024 | 1 Years 8 Months | Current |
|
Shivani Priya Mohini Kak
Also directs:
Icra Limited
|
Director | 18 Feb 2022 | 4 Years 4 Months | Current |
Financials of Icra Limited FY 2026 filings available
Icra Limited reported revenue of ₹599.51 Cr (up 20.38% YoY) for FY 2026. Profit growth despite declining revenue indicates effective cost management and margin discipline.
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue from Operations | ₹599.51 Cr | ₹498.02 Cr | ₹446.11 Cr | ₹403.23 Cr | ₹301.06 Cr | ₹321.09 Cr |
| Other Income | ₹75.02 Cr | ₹77.41 Cr | ₹74.97 Cr | ₹49.55 Cr | ₹42.85 Cr | ₹47.97 Cr |
| Total Income | ₹674.53 Cr | ₹575.43 Cr | ₹521.08 Cr | ₹452.78 Cr | ₹343.91 Cr | ₹369.06 Cr |
| Cost of Materials Consumed | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Purchases of Stock-in-Trade | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Changes in Inventories | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Employee Benefit Expense | ₹310.12 Cr | ₹261.13 Cr | ₹240.36 Cr | ₹207.56 Cr | ₹171.7 Cr | ₹161.67 Cr |
| Finance Costs | ₹4.43 Cr | ₹4.8 Cr | ₹10.41 Cr | ₹1.41 Cr | ₹2.06 Cr | ₹2.04 Cr |
| Depreciation & Amortisation | ₹28.26 Cr | ₹16.39 Cr | ₹13.46 Cr | ₹9.83 Cr | ₹9.92 Cr | ₹10.29 Cr |
| Other Expenses | ₹74.37 Cr | ₹59.14 Cr | ₹56.99 Cr | ₹52.76 Cr | ₹48.23 Cr | ₹63.58 Cr |
| Total Expenses | ₹417.17 Cr | ₹341.46 Cr | ₹321.22 Cr | ₹271.57 Cr | ₹231.9 Cr | ₹237.58 Cr |
| Profit Before Exceptional Items & Tax | ₹257.36 Cr | ₹233.97 Cr | ₹199.86 Cr | ₹181.22 Cr | ₹112.01 Cr | ₹131.48 Cr |
| Exceptional Items | -₹6.92 Cr | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | ₹250.45 Cr | ₹233.97 Cr | ₹199.86 Cr | ₹181.22 Cr | ₹112.01 Cr | ₹131.48 Cr |
| Total Tax Expense | ₹67.91 Cr | ₹62.77 Cr | ₹47.62 Cr | ₹44.49 Cr | ₹29.32 Cr | ₹34.24 Cr |
| Net Profit | ₹182.53 Cr | ₹171.2 Cr | ₹152.24 Cr | ₹136.73 Cr | ₹82.68 Cr | ₹97.24 Cr |
| attributable to Owners | ₹181.52 Cr | ₹170.01 Cr | - | - | ₹81.66 Cr | ₹96.18 Cr |
| attributable to NCI | ₹1.02 Cr | ₹1.19 Cr | - | - | ₹1.02 Cr | ₹1.06 Cr |
| Other Comprehensive Income | -₹8.11 Lakh | -₹63.87 Lakh | -₹1.49 Cr | -₹1.63 Cr | ₹1.72 Lakh | -₹62.53 Lakh |
| Total Comprehensive Income | ₹182.45 Cr | ₹170.57 Cr | ₹150.75 Cr | ₹135.1 Cr | ₹82.7 Cr | ₹96.61 Cr |
| EBITDA (computed) | ₹290.05 Cr | ₹255.17 Cr | ₹223.73 Cr | ₹192.46 Cr | ₹123.98 Cr | ₹143.81 Cr |
| Basic EPS | ₹188.63 | ₹176.73 | ₹157.07 | ₹140.59 | ₹84.89 | ₹99.98 |
| Diluted EPS | ₹188.32 | ₹176.50 | ₹156.99 | ₹140.59 | ₹84.89 | ₹99.98 |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Total Assets | ₹1,486.1 Cr | ₹1,294.17 Cr | ₹1,187.83 Cr | ₹1,100.82 Cr |
| Non-current Assets | ₹557.42 Cr | ₹166.06 Cr | ₹502.62 Cr | ₹514.64 Cr |
| Current Assets | ₹928.68 Cr | ₹1,128.12 Cr | ₹685.2 Cr | ₹586.17 Cr |
| Property, Plant & Equipment | ₹45.92 Cr | ₹40.44 Cr | ₹40.49 Cr | ₹27.52 Cr |
| Inventories | ₹0 | ₹0 | ₹0 | ₹0 |
| Trade Receivables | ₹78.41 Cr | ₹47.59 Cr | ₹53.01 Cr | ₹38.05 Cr |
| Cash & Equivalents | ₹29.72 Cr | ₹35.12 Cr | ₹10.48 Cr | ₹12.16 Cr |
| Equity (Net Worth) | ₹1,185.14 Cr | ₹1,057.65 Cr | ₹980.98 Cr | ₹954.93 Cr |
| Equity Share Capital | ₹9.65 Cr | ₹9.65 Cr | ₹9.65 Cr | ₹9.65 Cr |
| Borrowings (Non-current) | ₹37.58 Lakh | ₹62.58 Lakh | ₹1.02 Cr | ₹0 |
| Borrowings (Current) | ₹25 Lakh | ₹53.17 Lakh | ₹78.51 Lakh | ₹0 |
| Total Debt (computed) | ₹62.58 Lakh | ₹1.16 Cr | ₹1.8 Cr | ₹0 |
| Current Liabilities | ₹244.34 Cr | ₹177.1 Cr | ₹152.07 Cr | ₹131.74 Cr |
| Total Liabilities | ₹300.96 Cr | ₹236.52 Cr | ₹206.85 Cr | ₹145.89 Cr |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Operating Cash Flow | ₹157.26 Cr | ₹144.89 Cr | ₹107.01 Cr | ₹99.26 Cr |
| Investing Cash Flow | -₹95.49 Cr | -₹16.89 Cr | ₹27.49 Cr | -₹76.84 Cr |
| Financing Cash Flow | -₹66.91 Cr | -₹103.13 Cr | -₹136.71 Cr | -₹32.13 Cr |
| Capital Expenditure | ₹12.49 Cr | ₹12.41 Cr | ₹6.9 Cr | ₹9.09 Cr |
| Free Cash Flow (computed) | ₹144.76 Cr | ₹132.48 Cr | ₹100.11 Cr | ₹90.17 Cr |
| Dividends Paid | ₹58.77 Cr | ₹97.46 Cr | ₹126.35 Cr | ₹27.89 Cr |
| Net Change in Cash | -₹5.14 Cr | ₹24.88 Cr | -₹2.17 Cr | -₹9.76 Cr |
| Metrics | Q4 FY26 | Q3 FY26 | Q2 FY26 | Q1 FY26 | Q4 FY25 | Q3 FY25 | Q2 FY25 | Q1 FY25 | Q4 FY24 | Q3 FY24 | Q2 FY24 | Q1 FY24 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | ₹174.85 Cr | ₹163.59 Cr | ₹136.58 Cr | ₹124.49 Cr | ₹136.21 Cr | ₹120.87 Cr | ₹126.12 Cr | ₹114.82 Cr | ₹123.96 Cr | ₹114.59 Cr | ₹104.85 Cr | ₹102.71 Cr |
| Other Income | ₹14.18 Cr | ₹15.57 Cr | ₹20.91 Cr | ₹24.36 Cr | ₹20.62 Cr | ₹18.85 Cr | ₹20.05 Cr | ₹17.89 Cr | ₹23.68 Cr | ₹17.17 Cr | ₹16.36 Cr | ₹17.76 Cr |
| Total Income | ₹189.03 Cr | ₹179.16 Cr | ₹157.49 Cr | ₹148.85 Cr | ₹156.84 Cr | ₹139.73 Cr | ₹146.17 Cr | ₹132.7 Cr | ₹147.64 Cr | ₹131.76 Cr | ₹121.21 Cr | ₹120.47 Cr |
| Cost of Materials Consumed | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Purchases of Stock-in-Trade | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Changes in Inventories | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Employee Benefit Expense | ₹84.27 Cr | ₹83.64 Cr | ₹72.49 Cr | ₹69.71 Cr | ₹61.14 Cr | ₹64.63 Cr | ₹70.39 Cr | ₹64.98 Cr | ₹60.24 Cr | ₹66.97 Cr | ₹57.92 Cr | ₹55.24 Cr |
| Finance Costs | ₹93.81 Lakh | ₹97.55 Lakh | ₹86.55 Lakh | ₹1.65 Cr | ₹1.24 Cr | ₹1.07 Cr | ₹34.16 Lakh | ₹2.15 Cr | ₹6.93 Cr | ₹2.85 Cr | ₹30.75 Lakh | ₹31.78 Lakh |
| Depreciation & Amortisation | ₹10 Cr | ₹9.96 Cr | ₹4.21 Cr | ₹4.09 Cr | ₹4.48 Cr | ₹4.19 Cr | ₹4.01 Cr | ₹3.71 Cr | ₹4.47 Cr | ₹3.84 Cr | ₹2.84 Cr | ₹2.32 Cr |
| Other Expenses | ₹21.02 Cr | ₹22.76 Cr | ₹15.56 Cr | ₹15.03 Cr | ₹15.92 Cr | ₹14.09 Cr | ₹14.47 Cr | ₹14.66 Cr | ₹13.88 Cr | ₹17.37 Cr | ₹12.88 Cr | ₹12.86 Cr |
| Total Expenses | ₹116.24 Cr | ₹117.33 Cr | ₹93.12 Cr | ₹90.48 Cr | ₹82.78 Cr | ₹83.97 Cr | ₹89.21 Cr | ₹85.5 Cr | ₹85.52 Cr | ₹91.03 Cr | ₹73.94 Cr | ₹70.73 Cr |
| Profit Before Exceptional Items & Tax | ₹72.8 Cr | ₹61.83 Cr | ₹64.37 Cr | ₹58.37 Cr | ₹74.06 Cr | ₹55.75 Cr | ₹56.95 Cr | ₹47.21 Cr | ₹62.13 Cr | ₹40.73 Cr | ₹47.27 Cr | ₹49.74 Cr |
| Exceptional Items | ₹0 | -₹6.92 Cr | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | ₹72.8 Cr | ₹54.91 Cr | ₹64.37 Cr | ₹58.37 Cr | ₹74.06 Cr | ₹55.75 Cr | ₹56.95 Cr | ₹47.21 Cr | ₹62.13 Cr | ₹40.73 Cr | ₹47.27 Cr | ₹49.74 Cr |
| Total Tax Expense | ₹20.11 Cr | ₹15.85 Cr | ₹16.35 Cr | ₹15.61 Cr | ₹18.07 Cr | ₹13.53 Cr | ₹19.85 Cr | ₹11.32 Cr | ₹15.07 Cr | ₹8.32 Cr | ₹15.12 Cr | ₹9.11 Cr |
| Net Profit | ₹52.69 Cr | ₹39.06 Cr | ₹48.02 Cr | ₹42.76 Cr | ₹55.99 Cr | ₹42.22 Cr | ₹37.1 Cr | ₹35.89 Cr | ₹47.06 Cr | ₹32.41 Cr | ₹32.15 Cr | ₹40.63 Cr |
| attributable to Owners | ₹52.45 Cr | ₹38.82 Cr | ₹47.81 Cr | ₹42.44 Cr | ₹55.74 Cr | ₹42.03 Cr | ₹36.72 Cr | ₹35.52 Cr | - | ₹32.15 Cr | ₹31.77 Cr | ₹0 |
| attributable to NCI | ₹23.97 Lakh | ₹24.34 Lakh | ₹21.47 Lakh | ₹31.89 Lakh | ₹25.08 Lakh | ₹18.8 Lakh | ₹38.57 Lakh | ₹37.04 Lakh | - | ₹26 Lakh | ₹37.51 Lakh | ₹0 |
| Other Comprehensive Income | ₹22.87 Lakh | ₹1.55 Lakh | ₹5.59 Lakh | -₹38.12 Lakh | -₹26.59 Lakh | -₹35.04 Lakh | ₹7.03 Lakh | -₹9.28 Lakh | -₹26.14 Lakh | -₹80.85 Lakh | -₹28.28 Lakh | -₹13.72 Lakh |
| Total Comprehensive Income | ₹52.92 Cr | ₹39.08 Cr | ₹48.08 Cr | ₹42.38 Cr | ₹55.72 Cr | ₹41.87 Cr | ₹37.18 Cr | ₹35.8 Cr | ₹46.8 Cr | ₹31.6 Cr | ₹31.86 Cr | ₹40.49 Cr |
| EBITDA (computed) | ₹83.74 Cr | ₹72.76 Cr | ₹69.44 Cr | ₹64.11 Cr | ₹79.78 Cr | ₹61.01 Cr | ₹61.31 Cr | ₹53.07 Cr | ₹73.52 Cr | ₹47.42 Cr | ₹50.41 Cr | ₹52.38 Cr |
| Basic EPS | ₹54.50 | ₹40.34 | ₹49.68 | ₹44.11 | ₹57.94 | ₹43.69 | ₹38.18 | ₹36.92 | ₹48.72 | ₹33.42 | ₹33.03 | ₹41.90 |
| Diluted EPS | ₹54.43 | ₹40.27 | ₹49.57 | ₹44.05 | ₹57.86 | ₹43.63 | ₹38.11 | ₹36.90 | ₹48.64 | ₹33.42 | ₹33.03 | ₹41.90 |
| Segment · Q4 FY26 (latest quarter) | Revenue | Result (PBIT) | Assets | Liabilities |
|---|---|---|---|---|
| Ratings and ancillary services | ₹91.55 Cr | ₹40.45 Cr | ₹111.97 Cr | ₹155.62 Cr |
| Research and analytics | ₹84.31 Cr | ₹18.81 Cr | ₹371.4 Cr | ₹62.27 Cr |
| Segment · FY 2026 (annual) | Revenue | Result (PBIT) | Assets | Liabilities |
|---|---|---|---|---|
| Ratings and ancillary services | ₹336.45 Cr | ₹124.19 Cr | - | - |
| Research and analytics | ₹265.81 Cr | ₹59.77 Cr | - | - |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue from Operations | ₹328.24 Cr | ₹286.73 Cr | ₹251.24 Cr | ₹222.54 Cr | ₹181.27 Cr | ₹207.78 Cr |
| Other Income | ₹64.45 Cr | ₹102.05 Cr | ₹90.96 Cr | ₹65.57 Cr | ₹36.32 Cr | ₹40.57 Cr |
| Total Income | ₹392.69 Cr | ₹388.78 Cr | ₹342.2 Cr | ₹288.11 Cr | ₹217.59 Cr | ₹248.36 Cr |
| Cost of Materials Consumed | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Purchases of Stock-in-Trade | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Changes in Inventories | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Employee Benefit Expense | ₹161.07 Cr | ₹149.57 Cr | ₹145.21 Cr | ₹123.43 Cr | ₹110.04 Cr | ₹105.11 Cr |
| Finance Costs | ₹96.88 Lakh | ₹1.72 Cr | ₹3.77 Cr | ₹1.34 Cr | ₹1.73 Cr | ₹1.66 Cr |
| Depreciation & Amortisation | ₹8.98 Cr | ₹7.92 Cr | ₹7.99 Cr | ₹7.03 Cr | ₹5.25 Cr | ₹5.38 Cr |
| Other Expenses | ₹48.22 Cr | ₹40.61 Cr | ₹38.39 Cr | ₹39.17 Cr | ₹28.91 Cr | ₹44.16 Cr |
| Total Expenses | ₹219.23 Cr | ₹199.82 Cr | ₹195.36 Cr | ₹170.97 Cr | ₹145.93 Cr | ₹156.3 Cr |
| Profit Before Exceptional Items & Tax | ₹173.46 Cr | ₹188.96 Cr | ₹146.84 Cr | ₹117.13 Cr | ₹71.66 Cr | ₹92.05 Cr |
| Exceptional Items | -₹2.19 Cr | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | ₹171.26 Cr | ₹188.96 Cr | ₹146.84 Cr | ₹117.13 Cr | ₹71.66 Cr | ₹92.05 Cr |
| Total Tax Expense | ₹44.55 Cr | ₹40.76 Cr | ₹23.68 Cr | ₹21.2 Cr | ₹18.72 Cr | ₹27.07 Cr |
| Net Profit | ₹126.71 Cr | ₹148.19 Cr | ₹123.16 Cr | ₹95.93 Cr | ₹52.95 Cr | ₹64.98 Cr |
| Other Comprehensive Income | -₹53.27 Lakh | -₹15.45 Lakh | -₹48.89 Lakh | -₹41.55 Lakh | ₹25.46 Lakh | -₹53.84 Lakh |
| Total Comprehensive Income | ₹126.18 Cr | ₹148.04 Cr | ₹122.67 Cr | ₹95.51 Cr | ₹53.2 Cr | ₹64.44 Cr |
| EBITDA (computed) | ₹183.4 Cr | ₹198.59 Cr | ₹158.6 Cr | ₹125.51 Cr | ₹78.64 Cr | ₹99.09 Cr |
| Basic EPS | ₹131.68 | ₹154.05 | ₹128.03 | ₹99.73 | ₹55.04 | ₹67.55 |
| Diluted EPS | ₹131.46 | ₹153.85 | ₹127.97 | ₹99.73 | ₹55.04 | ₹67.55 |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Total Assets | ₹1,038.32 Cr | ₹952.97 Cr | ₹869.49 Cr | ₹850.91 Cr |
| Non-current Assets | ₹494.79 Cr | ₹122.16 Cr | ₹460.65 Cr | ₹479.3 Cr |
| Current Assets | ₹543.53 Cr | ₹830.81 Cr | ₹408.84 Cr | ₹371.61 Cr |
| Property, Plant & Equipment | ₹17.85 Cr | ₹19.86 Cr | ₹18.51 Cr | ₹10.62 Cr |
| Inventories | ₹0 | ₹0 | ₹0 | ₹0 |
| Trade Receivables | ₹28.22 Cr | ₹26.45 Cr | ₹23.09 Cr | ₹12.77 Cr |
| Cash & Equivalents | ₹11.49 Cr | ₹4.78 Cr | ₹2.18 Cr | ₹4.84 Cr |
| Equity (Net Worth) | ₹885.11 Cr | ₹804.37 Cr | ₹741.43 Cr | ₹736.59 Cr |
| Equity Share Capital | ₹9.65 Cr | ₹9.65 Cr | ₹9.65 Cr | ₹9.65 Cr |
| Borrowings (Non-current) | ₹0 | ₹0 | ₹0 | ₹0 |
| Borrowings (Current) | ₹0 | ₹0 | ₹0 | ₹0 |
| Total Debt (computed) | ₹0 | ₹0 | ₹0 | ₹0 |
| Current Liabilities | ₹140.47 Cr | ₹133.3 Cr | ₹120.28 Cr | ₹103.46 Cr |
| Total Liabilities | ₹153.21 Cr | ₹148.6 Cr | ₹128.06 Cr | ₹114.33 Cr |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Operating Cash Flow | ₹102.18 Cr | ₹93.74 Cr | ₹56.56 Cr | ₹52.54 Cr |
| Investing Cash Flow | -₹32.52 Cr | ₹10.14 Cr | ₹70.67 Cr | -₹23.51 Cr |
| Financing Cash Flow | -₹62.94 Cr | -₹101.28 Cr | -₹129.89 Cr | -₹31.1 Cr |
| Capital Expenditure | ₹6.87 Cr | ₹6.33 Cr | ₹3.32 Cr | ₹6.9 Cr |
| Free Cash Flow (computed) | ₹95.31 Cr | ₹87.4 Cr | ₹53.24 Cr | ₹45.64 Cr |
| Dividends Paid | ₹57.91 Cr | ₹96.51 Cr | ₹125.47 Cr | ₹27.02 Cr |
| Net Change in Cash | ₹6.71 Cr | ₹2.59 Cr | -₹2.66 Cr | -₹2.07 Cr |
| Metrics | Q4 FY26 | Q3 FY26 | Q2 FY26 | Q1 FY26 | Q4 FY25 | Q3 FY25 | Q2 FY25 | Q1 FY25 | Q4 FY24 | Q3 FY24 | Q2 FY24 | Q1 FY24 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | ₹89.4 Cr | ₹84.57 Cr | ₹82.06 Cr | ₹72.2 Cr | ₹80.62 Cr | ₹70.83 Cr | ₹72.08 Cr | ₹63.2 Cr | ₹70.49 Cr | ₹64.36 Cr | ₹58.23 Cr | ₹58.16 Cr |
| Other Income | ₹11.9 Cr | ₹14.47 Cr | ₹15.9 Cr | ₹22.18 Cr | ₹19.63 Cr | ₹19.56 Cr | ₹46.16 Cr | ₹16.71 Cr | ₹17.64 Cr | ₹16.07 Cr | ₹41.1 Cr | ₹16.16 Cr |
| Total Income | ₹101.31 Cr | ₹99.04 Cr | ₹97.96 Cr | ₹94.38 Cr | ₹100.25 Cr | ₹90.38 Cr | ₹118.24 Cr | ₹79.91 Cr | ₹88.13 Cr | ₹80.42 Cr | ₹99.33 Cr | ₹74.33 Cr |
| Cost of Materials Consumed | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Purchases of Stock-in-Trade | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Changes in Inventories | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Employee Benefit Expense | ₹38.52 Cr | ₹40.46 Cr | ₹42.57 Cr | ₹39.51 Cr | ₹35.34 Cr | ₹37.87 Cr | ₹40.52 Cr | ₹35.83 Cr | ₹34.75 Cr | ₹41.5 Cr | ₹35.8 Cr | ₹33.16 Cr |
| Finance Costs | ₹20.54 Lakh | ₹24.72 Lakh | ₹24.5 Lakh | ₹27.12 Lakh | ₹44.68 Lakh | ₹46.26 Lakh | ₹41.92 Lakh | ₹39.14 Lakh | ₹44.04 Lakh | ₹2.7 Cr | ₹30.62 Lakh | ₹31.61 Lakh |
| Depreciation & Amortisation | ₹2.37 Cr | ₹2.37 Cr | ₹2.17 Cr | ₹2.07 Cr | ₹2.18 Cr | ₹2.07 Cr | ₹1.96 Cr | ₹1.71 Cr | ₹2.19 Cr | ₹2.09 Cr | ₹2.04 Cr | ₹1.67 Cr |
| Other Expenses | ₹11.18 Cr | ₹13 Cr | ₹11.17 Cr | ₹12.87 Cr | ₹9.14 Cr | ₹10.43 Cr | ₹10.38 Cr | ₹10.66 Cr | ₹9.66 Cr | ₹10.93 Cr | ₹8.56 Cr | ₹9.25 Cr |
| Total Expenses | ₹52.29 Cr | ₹56.07 Cr | ₹56.16 Cr | ₹54.72 Cr | ₹47.11 Cr | ₹50.84 Cr | ₹53.28 Cr | ₹48.6 Cr | ₹47.04 Cr | ₹57.22 Cr | ₹46.7 Cr | ₹44.4 Cr |
| Profit Before Exceptional Items & Tax | ₹49.02 Cr | ₹42.98 Cr | ₹41.8 Cr | ₹39.66 Cr | ₹53.14 Cr | ₹39.55 Cr | ₹64.96 Cr | ₹31.31 Cr | ₹41.09 Cr | ₹23.2 Cr | ₹52.63 Cr | ₹29.92 Cr |
| Exceptional Items | ₹0 | -₹2.19 Cr | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | ₹49.02 Cr | ₹40.79 Cr | ₹41.8 Cr | ₹39.66 Cr | ₹53.14 Cr | ₹39.55 Cr | ₹64.96 Cr | ₹31.31 Cr | ₹41.09 Cr | ₹23.2 Cr | ₹52.63 Cr | ₹29.92 Cr |
| Total Tax Expense | ₹12.62 Cr | ₹11.53 Cr | ₹10.89 Cr | ₹9.51 Cr | ₹11.09 Cr | ₹8.45 Cr | ₹14.63 Cr | ₹6.6 Cr | ₹7.52 Cr | ₹3 Cr | ₹9.28 Cr | ₹3.88 Cr |
| Net Profit | ₹36.4 Cr | ₹29.26 Cr | ₹30.91 Cr | ₹30.15 Cr | ₹42.05 Cr | ₹31.1 Cr | ₹50.33 Cr | ₹24.72 Cr | ₹33.57 Cr | ₹20.2 Cr | ₹43.34 Cr | ₹26.04 Cr |
| Other Comprehensive Income | -₹2.11 Lakh | -₹30.72 Lakh | -₹12.02 Lakh | -₹8.42 Lakh | -₹9.64 Lakh | -₹13.02 Lakh | -₹4.65 Lakh | ₹11.86 Lakh | -₹8.08 Lakh | -₹4.24 Lakh | -₹28.74 Lakh | -₹7.83 Lakh |
| Total Comprehensive Income | ₹36.38 Cr | ₹28.95 Cr | ₹30.79 Cr | ₹30.06 Cr | ₹41.96 Cr | ₹30.97 Cr | ₹50.28 Cr | ₹24.83 Cr | ₹33.48 Cr | ₹20.16 Cr | ₹43.06 Cr | ₹25.96 Cr |
| EBITDA (computed) | ₹51.6 Cr | ₹45.59 Cr | ₹44.21 Cr | ₹42 Cr | ₹55.77 Cr | ₹42.08 Cr | ₹67.33 Cr | ₹33.41 Cr | ₹43.72 Cr | ₹27.99 Cr | ₹54.97 Cr | ₹31.91 Cr |
| Basic EPS | ₹37.82 | ₹30.41 | ₹32.11 | ₹31.34 | ₹43.71 | ₹32.33 | ₹52.32 | ₹25.69 | ₹34.89 | ₹21.01 | ₹45.06 | ₹27.07 |
| Diluted EPS | ₹37.76 | ₹30.36 | ₹32.05 | ₹31.29 | ₹43.65 | ₹32.28 | ₹52.24 | ₹25.68 | ₹34.83 | ₹21.01 | ₹45.06 | ₹27.07 |
Shareholding Pattern of Icra Limited
As per the shareholding pattern filed with NSE for the quarter ended Mar 2026, promoters hold 51.87%, foreign institutional investors hold 7.92%, domestic institutional investors hold 24.52%, retail and other public shareholders hold 15.41% of Icra Limited. The company had 22,189 shareholders on record.
| Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | |
|---|---|---|---|---|---|---|
| Promoters | 51.87% | 51.87% | 51.87% | 51.87% | 51.87% | 51.87% |
| Public | 47.85% | 47.85% | 47.85% | 47.82% | 47.82% | 47.82% |
| Employee Trusts | 0.29% | 0.29% | 0.29% | 0.32% | 0.32% | 0.32% |
| Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 51.87% | 51.87% | 51.87% | 51.87% | 51.87% | 51.87% | 51.87% | 51.87% | 50.55% | 50.46% | 50.06% |
| Public | 47.85% | 47.82% | 47.80% | 47.80% | 47.80% | 47.80% | 47.80% | 47.80% | 49.04% | 48.13% | 48.31% |
| Employee Trusts | 0.29% | 0.32% | 0.33% | 0.33% | 0.33% | 0.33% | 0.33% | 0.33% | 0.41% | 1.41% | 1.64% |
| Promoter change (YoY, %pts) | +0.00 | +0.00 | +0.00 | +0.00 | +0.00 | +0.00 | +0.00 | +1.32 | +0.09 | +0.40 | - |
Board & Governance of Icra Limited
As per the corporate governance filing with NSE for the quarter ended 31-MAR-2026, the board of Icra Limited has 8 directors - 3 independent and 1 executive. The board is chaired by Palamadai Sundararajan Jayakumar.
| Director | Position | On board since | Listed boards |
|---|---|---|---|
| Palamadai Sundararajan Jayakumar | Non-Executive - Independent Director · Chairperson | 2024-11-01 | 7 |
| Pradip Manilal Kanakia | Non-Executive - Independent Director | 2024-11-01 | 6 |
| Anuranjita Kumar | Non-Executive - Independent Director | 2024-12-01 | 3 |
| Wendy Huay Huay Cheong | Non-Executive - Non Independent Director | 2020-11-06 | 1 |
| Shivani Priya Mohini Kak | Non-Executive - Non Independent Director | 2022-02-18 | 1 |
| Stephen Arthur Long | Non-Executive - Non Independent Director | 2022-05-13 | 1 |
| Brian Joseph Cahill | Non-Executive - Non Independent Director | 2024-08-01 | 1 |
| Ramnath Krishnan | Executive Director · CEO-MD | 2021-10-23 | 1 |
| Committee | Members |
|---|---|
| Audit Committee | Pradip Manilal Kanakia (Chairperson), Palamadai Sundararajan Jayakumar, Wendy Huay Huay Cheong |
| Nomination and remuneration committee | Anuranjita Kumar (Chairperson), Pradip Manilal Kanakia, Wendy Huay Huay Cheong |
| Stakeholders Relationship Committee | Shivani Priya Mohini Kak (Chairperson), Anuranjita Kumar, Ramnath Krishnan |
| Risk Management Committee | Stephen Arthur Long (Chairperson), Pradip Manilal Kanakia, Ramnath Krishnan |
| Corporate Social Responsibility Committee | Anuranjita Kumar (Chairperson), Shivani Priya Mohini Kak, Ramnath Krishnan |
| Strategy Committee | Wendy Huay Huay Cheong (Chairperson), Brian Joseph Cahill, Ramnath Krishnan |
| Ratings Sub-Committee | Brian Joseph Cahill (Chairperson), Palamadai Sundararajan Jayakumar, Stephen Arthur Long |
Group Structure of Icra Limited
Icra Limited has 3 subsidiary companies. This group structure data is as of FY 2024. The corporate group structure reflects Icra Limited's business expansion strategy and organizational complexity.
| Company Name | CIN | Shares Held |
|---|---|---|
| D2k Technologies India Private Limited | U72900MH2001PTC131873 | - |
| Icra Analytics Limited | U72900WB1999PLC109180 | - |
| Pragati Development Consulting Services Limited | U74140DL2011PLC213174 | - |
Showing major subsidiaries. Total: 3.
Charges & Borrowings Icra Limited
Icra Limited does not have any charges (loans) registered with the Registrar of Companies.
Employees and EPFO Compliance at Icra Limited
Icra Limited has a workforce of 472 employees as of Mar 30, 2024.
Employee Count & EPFO Data of Icra Limited
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GST Compliance of Icra Limited
GSTIN & GST Filing Data of Icra Limited
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Credit Ratings, Litigation & Regulatory Alerts for Icra Limited
Credit Ratings, Legal Cases & Regulatory Alerts of Icra Limited
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MSME Payment Delays by Icra Limited
MSME Payment Delays by Icra Limited
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Subsidiaries & Group Companies of Icra Limited
Subsidiaries & Group Companies of Icra Limited
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MCA Filings & Documents of Icra Limited
MCA Filings & Documents of Icra Limited
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Recent Activity on Icra Limited
Recent News on Icra Limited
Frequently Asked Questions about Icra Limited
Icra Limited is an active public limited company in the financial services sector based in New Delhi, Delhi, India. It was incorporated on 16 January 1991 (35+ years old) and is registered under CIN L74999DL1991PLC042749. Listed on BSE: 532835 and NSE: ICRA. The company has 472 employees.
Icra Limited reported revenue of ₹575.43 Cr for FY 2025 (up 10.00% YoY).
The current directors of Icra Limited are:
- Venkatesh Shekaripuram Viswanathan
- Anuranjita Kumar
- Venkatesh Viswanathan
- Wendy Huay Huay Cheong
- Ramnath Krishnan
- Pradip Manilal Kanakia
- S Shakeb Rahman
- Shivani Priya Mohini Kak
- Stephen Arthur Long
- Brian Joseph Cahill
- Palamadai Sundararajan Jayakumar
- Venkatesh Shekaripuram Viswanathan
The primary industry of Icra Limited is financial services. The company specifically operates in credit rating agencies. The company is currently active in this sector.
Yes. Icra Limited is listed on both BSE (code: 532835) and NSE (symbol: ICRA).
Icra Limited can be reached at the registered office: B – 710 Statesman House 148 Barakhamba Road, New Delhi, Delhi, India – 110001, or through the website icra.in.