ICRA quarterly results and financials

ICRA (ICRA)₹4,464−1.37%(9 Nov 2026 close)Ratings

Key facts

In the Sep 2026 quarter (consolidated), ICRA reported sales of ₹177 Cr, up 30.0% from Sep 2025, and net profit of ₹52.13 Cr, up 8.2% year on year. For the year to Mar 2026, sales were ₹598 Cr and net profit ₹184 Cr.

Sales (Sep 2026): ₹177 Cr
Net profit (Sep 2026): ₹52.13 Cr
Sales (FY Mar 2026): ₹598 Cr
Net profit (FY Mar 2026): ₹184 Cr
EPS (Sep 2026): ₹54.25
Borrowings (Mar 2026): ₹17.92 Cr

Company filings, consolidated accounts; latest reported quarter Sep 2026

ICRA quarterly results

₹ crore unless stated; each column is a quarter.

ICRA 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	115	123	115	126	121	136	124	136	163	174	162	177
Expenses	83.82	73.82	79.82	84.74	78.79	76.85	84.79	87.79	106	105	108	112
Operating Profit	30.01	50.01	35.03	41.02	42.06	59.07	40.02	49.01	57.07	70.03	55.02	66.09
OPM %	26.0%	40.0%	31.0%	33.0%	35.0%	43.0%	32.0%	36.0%	35.0%	40.0%	34.0%	37.0%
Other Income	16.99	23.99	17.99	19.97	18.99	20.99	23.99	20.98	8.99	13.99	31.98	16.99
Interest	2.99	6.98	1.99	0.00	0.99	0.99	1.99	0.99	0.99	0.99	0.00	0.00
Depreciation	3.99	3.99	3.99	3.99	3.99	3.99	3.99	3.99	9.97	9.97	10.97	10.96
Profit before tax	40.94	61.91	46.97	56.93	55.97	73.87	57.92	63.96	54.94	72.91	75.90	71.87
Tax %	20.1%	24.1%	24.1%	35.1%	24.1%	24.1%	27.1%	25.1%	29.1%	28.1%	26.1%	27.1%
Exceptional items	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	−4.01	0.00	3.01	0.00
Net Profit	32.08	47.15	36.11	37.13	42.11	56.17	43.14	48.17	39.13	53.19	56.15	52.13
EPS (Rs)	33.44	48.75	36.91	38.16	43.70	57.94	44.15	49.72	40.39	54.52	58.36	54.25

ICRA profit and loss

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

ICRA 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	340	332	308	327	320	300	341	401	444	496	598	677
Expenses	239	230	193	214	224	220	222	260	296	319	383	430
Operating Profit	101	102	115	113	96.06	81.07	121	143	149	178	215	248
OPM %	30.0%	31.0%	37.0%	34.0%	30.0%	27.0%	35.0%	35.0%	33.0%	36.0%	36.0%	36.7%
Other Income	26.98	38.95	48.99	44.98	47.96	42.99	40.99	49.99	74.98	76.95	67.98	71.95
Interest	0.99	0.00	0.00	0.00	1.99	1.99	1.99	0.99	9.98	4.99	3.99	1.98
Depreciation	9.97	8.98	7.97	5.98	9.97	9.97	7.98	9.97	12.96	15.96	27.92	41.87
Profit before tax	118	132	157	152	131	112	152	181	200	234	250	276
Tax %	35.1%	33.1%	35.1%	30.1%	26.1%	26.1%	25.1%	25.1%	24.1%	27.1%	27.1%	—
Exceptional items	6.02	−1.01	5.01	0.00	0.00	1.01	0.00	0.00	0.00	0.00	−5.02	−1.00
Net Profit	76.26	89.25	101	106	97.26	83.20	114	137	152	172	184	201
EPS (Rs)	76.47	89.57	102.02	109.51	99.92	84.96	116.68	140.58	157.15	176.73	188.68	207.52
Dividend payout %	33.1%	30.1%	29.1%	27.1%	27.1%	32.1%	24.1%	93.1%	64.1%	34.1%	56.1%	—

ICRA balance sheet

₹ crore, at each year end.

ICRA 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	9.99	9.99	9.98	9.99	9.99	10.00	10.00	9.99	9.99	9.99	9.99	9.99
Reserves	418	465	538	644	630	692	747	832	938	965	1,042	1,169
Borrowings	9.97	0.00	0.00	0.00	0.00	0.00	16.95	13.95	12.94	12.94	12.95	17.92
Other Liabilities	145	151	111	116	129	145	122	121	139	195	225	283
Total Liabilities	583	626	659	770	769	846	895	976	1,099	1,182	1,290	1,480
Fixed Assets	91.38	92.29	37.15	36.14	34.12	54.24	46.17	46.19	47.19	91.38	90.37	314
CWIP	0.00	1.01	1.01	0.00	1.01	2.01	3.01	2.01	1.01	1.01	4.02	2.01
Investments	256	184	310	337	181	104	176	452	687	810	770	728
Other Assets	234	350	312	396	552	685	669	478	364	278	426	436
Trade receivables	54.05	48.04	34.02	41.04	34.01	57.03	47.99	25.99	38.04	51.01	48.02	78.02
Cash & equivalents	120	225	202	230	405	525	398	309	241	155	281	41.86
Total Assets	583	626	659	770	769	846	895	976	1,099	1,182	1,290	1,480

ICRA cash flow

₹ crore, for each year.

ICRA 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	67.30	71.24	63.24	62.26	81.26	21.09	76.33	97.42	99.31	107	145	158
Cash from investing activity	−30.95	−39.93	−11.98	−53.95	44.96	10.99	−31.98	−71.94	−76.88	27.98	−16.98	−94.84
Cash from financing activity	−28.97	−39.97	−69.01	3.99	−121	−41.01	−31.98	−30.99	−31.98	−137	−103	−66.95
Net cash flow	6.98	−8.97	−16.94	11.96	4.98	−7.97	11.95	−6.97	−9.96	−1.99	24.90	−4.98
Capex	5.01	10.01	5.01	4.01	5.01	3.99	3.99	5.01	9.01	6.99	12.01	12.01
Free cash flow	62.95	60.90	59.97	62.94	80.84	16.99	73.89	90.96	89.87	99.86	133	145
CFO / OP %	140.9%	114.0%	103.9%	98.0%	109.0%	59.0%	131.0%	114.0%	102.9%	106.0%	113.0%	103.0%

ICRA ratios

Working-capital days and returns, by year.

ICRA 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	62	52	38	49	39	66	59	29	35	43	36	49
Cash conversion cycle	62	52	38	49	39	66	59	29	35	43	36	49
Working capital days	−64	−66	−45	−41	−44	−2	−48	−55	−64	−61	−74	−52
ROCE %	21.0%	24.1%	26.0%	25.0%	23.0%	20.0%	15.0%	19.1%	20.0%	21.0%	23.0%	23.0%

ICRA: frequently asked questions

What are the latest quarterly results of ICRA?

For the Sep 2026 quarter, ICRA reported sales of ₹177 Cr, up 30.0% year on year and net profit of ₹52.13 Cr, up 8.2% year on year. The operating margin was 37.0%.

What is the annual revenue of ICRA?

ICRA's sales for the year to Mar 2026 were ₹598 Cr; over the last twelve months they were ₹677 Cr.

What is the net profit of ICRA?

Net profit for the year to Mar 2026 was ₹184 Cr, and ₹201 Cr over the last twelve months. Earnings per share over the same trailing period were ₹207.52.

How much debt does ICRA have?

ICRA reported borrowings of ₹17.92 Cr at Mar 2026, against cash and equivalents of ₹41.86 Cr.

What is the free cash flow of ICRA?

Cash from operations was ₹158 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹145 Cr.

Loading…