CARE Ratings quarterly results and financials

CARE Ratings (CARERATING)₹1,556−1.87%(9 Nov 2026 close)Ratings

Key facts

In the Sep 2026 quarter (consolidated), CARE Ratings reported sales of ₹163 Cr, up 20.6% from Sep 2025, and net profit of ₹72.15 Cr, up 26.3% year on year. For the year to Mar 2026, sales were ₹471 Cr and net profit ₹174 Cr.

Sales (Sep 2026): ₹163 Cr
Net profit (Sep 2026): ₹72.15 Cr
Sales (FY Mar 2026): ₹471 Cr
Net profit (FY Mar 2026): ₹174 Cr
EPS (Sep 2026): ₹23.90
Borrowings (Mar 2026): ₹26.06 Cr

Company filings, consolidated accounts; latest reported quarter Sep 2026

CARE Ratings quarterly results

₹ crore unless stated; each column is a quarter.

CARE Ratings Quarterly results
	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Sales	78.70	89.65	78.75	116	95.63	110	93.72	135	112	131	112	163
Expenses	55.01	60.95	56.96	61.97	66.01	61.95	65.99	67.97	71.91	69.94	77.01	80.02
Operating Profit	23.01	29.02	22.03	56.03	30.03	47.05	28.04	68.14	40.06	61.03	35.07	85.13
OPM %	30.1%	32.1%	28.1%	47.0%	32.1%	43.1%	30.1%	50.1%	36.0%	46.1%	31.1%	52.1%
Other Income	13.97	9.98	11.97	11.99	11.98	14.98	13.98	12.98	12.98	15.97	14.97	14.97
Interest	0.00	0.00	0.00	0.00	1.01	1.01	1.01	1.01	1.01	1.01	1.01	1.01
Depreciation	2.99	2.99	2.99	2.99	2.99	2.99	2.99	2.99	3.99	3.99	3.99	3.99
Profit before tax	33.99	35.99	29.99	63.96	38.98	58.93	37.01	77.01	48.94	71.96	44.99	95.98
Tax %	30.0%	32.0%	30.0%	27.0%	27.0%	26.0%	29.0%	26.0%	25.0%	26.0%	27.0%	24.0%
Net Profit	24.03	25.05	21.03	47.08	28.08	43.07	26.05	57.11	37.10	53.09	33.07	72.15
EPS (Rs)	7.89	8.08	6.95	15.43	9.30	14.26	8.62	18.92	11.98	17.62	10.75	23.90

CARE Ratings profit and loss

₹ crore unless stated; years end in March. TTM is the last four quarters.

CARE Ratings Profit and loss
	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	278	286	332	318	243	247	247	278	331	400	471	517
Expenses	105	105	122	144	162	153	168	180	220	247	276	299
Operating Profit	174	182	211	175	81.15	96.09	80.13	99.10	112	155	197	221
OPM %	62.1%	63.1%	63.1%	55.0%	33.1%	39.1%	32.1%	36.1%	34.1%	39.1%	42.1%	42.8%
Other Income	8.99	33.96	24.95	29.96	30.95	30.95	26.96	37.95	46.89	50.93	54.91	58.89
Interest	0.00	0.00	0.00	0.00	1.01	1.01	0.00	1.01	2.01	2.01	2.01	4.04
Depreciation	3.99	2.99	2.99	2.99	7.99	7.98	7.99	10.98	9.98	11.98	13.97	15.96
Profit before tax	178	212	233	202	104	119	98.89	126	147	192	235	262
Tax %	33.0%	31.0%	30.0%	32.0%	20.0%	23.0%	22.0%	32.0%	30.0%	27.0%	26.0%	—
Exceptional items	0.99	5.99	0.99	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—
Net Profit	120	148	162	138	83.20	91.21	77.12	85.18	103	140	174	195
EPS (Rs)	40.76	50.18	55.18	46.72	28.02	30.43	25.40	28.18	33.72	45.92	57.09	64.25
Dividend payout %	69.0%	56.0%	100.0%	64.0%	70.0%	56.0%	67.1%	89.1%	53.0%	39.0%	39.0%	—

CARE Ratings balance sheet

₹ crore, at each year end.

CARE Ratings Balance sheet
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	28.94	28.93	28.96	28.90	28.92	28.96	28.94	29.92	29.95	29.95	29.94	29.96
Reserves	329	378	489	565	519	503	557	616	641	685	774	899
Borrowings	0.00	0.00	0.00	0.00	0.00	0.00	7.01	9.01	17.04	20.02	24.04	26.06
Other Liabilities	87.03	93.55	63.80	60.71	63.69	84.84	74.28	69.33	80.08	105	127	146
Total Liabilities	445	500	582	656	612	616	669	724	768	840	955	1,103
Fixed Assets	64.78	63.74	60.78	59.73	82.62	92.59	84.67	95.63	107	109	119	122
CWIP	0.00	0.00	0.00	0.00	0.00	0.99	2.99	7.99	3.99	5.99	2.99	4.99
Investments	334	380	465	516	438	338	239	43.86	43.89	43.89	134	86.67
Other Assets	45.88	57.89	56.85	78.87	92.74	185	342	576	612	681	700	888
Trade receivables	15.94	23.92	24.92	38.87	46.85	40.86	20.94	16.94	19.93	21.93	31.89	34.87
Cash & equivalents	14.97	12.97	13.98	28.92	29.92	115	289	81.85	55.88	57.92	96.78	129
Total Assets	445	500	582	656	612	616	669	724	768	840	955	1,103

CARE Ratings cash flow

₹ crore, for each year.

CARE Ratings Cash flow
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	107	106	119	134	109	66.71	85.69	67.69	81.63	90.60	123	147
Cash from investing activity	157	−41.06	−22.02	−25.02	83.17	27.04	−38.03	−27.02	13.03	−39.08	−58.13	−94.13
Cash from financing activity	−275	−65.74	−95.62	−98.61	−194	−107	−42.81	−34.85	−62.73	−62.77	−53.79	−58.79
Net cash flow	−12.01	−0.99	1.01	11.01	−3.99	−12.99	5.01	5.99	31.99	−10.99	11.01	−5.99
Capex	11.01	3.01	1.01	2.01	26.01	5.01	4.01	19.03	12.01	9.01	15.02	8.01
Free cash flow	96.01	104	118	131	82.02	62.98	82.08	49.03	71.05	82.09	108	140
CFO / OP %	104.0%	95.0%	101.0%	95.0%	98.0%	125.0%	114.0%	122.0%	115.0%	119.0%	112.0%	107.0%

CARE Ratings ratios

Working-capital days and returns, by year.

CARE Ratings Ratios
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor days	21	30	31	42	53	60	30	24	26	24	28	26
Cash conversion cycle	21	30	31	42	53	60	30	24	26	24	28	26
Working capital days	−81	−64	−9	0	14	15	−2	636	639	592	452	317
ROCE %	38.9%	45.9%	43.9%	40.9%	34.9%	19.0%	21.0%	16.0%	18.9%	20.9%	25.0%	26.0%

CARE Ratings: frequently asked questions

What are the latest quarterly results of CARE Ratings?

For the Sep 2026 quarter, CARE Ratings reported sales of ₹163 Cr, up 20.6% year on year and net profit of ₹72.15 Cr, up 26.3% year on year. The operating margin was 52.1%.

What is the annual revenue of CARE Ratings?

CARE Ratings' sales for the year to Mar 2026 were ₹471 Cr; over the last twelve months they were ₹517 Cr.

What is the net profit of CARE Ratings?

Net profit for the year to Mar 2026 was ₹174 Cr, and ₹195 Cr over the last twelve months. Earnings per share over the same trailing period were ₹64.25.

How much debt does CARE Ratings have?

CARE Ratings reported borrowings of ₹26.06 Cr at Mar 2026, against cash and equivalents of ₹129 Cr.

What is the free cash flow of CARE Ratings?

Cash from operations was ₹147 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹140 Cr.

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