CARERATING - CARE Ratings Limited Share Price

Capital Markets

₹1280.00+48.60(+3.95%)

Market Closed as of May 5, 2025, 15:30 IST

What does CARE Ratings Limited do?

Ratings•Financial Services•Small Cap

CARE Ratings Limited, a credit rating agency, provides various rating and related services in India and internationally. The company provides rating services for bank loan, debt instrument, bonds, long term instruments, non-convertible debentures, preference shares, fixed deposits, short term instruments and NCDs, and commercial papers; principal protected market linked debentures, subordinate debt, CDs for banks, perpetual bonds, mutual funds, and hybrid instruments; structured finance ratings; insurance ratings; recovery ratings; ratings of REITs; infra EL; public finance; and monitoring agency for IPOs. The company was formerly known as Credit Analysis and Research Limited and changed its name to CARE Ratings Limited in June 2017. CARE Ratings Limited was incorporated in 1993 and is headquartered in Mumbai, India.

Industry Group:Capital Markets

Employees:563

Website:www.careratings.com

Description	Share	Value
Ratings and Related Services	88.1%	84.9 Cr
Others	11.9%	11.5 Cr
Total		96.4 Cr

Pros

Balance Sheet: Strong Balance Sheet.

Buy Backs: Company has bought back it's stock in the past which is a good thing.

Smart Money: Smart money is taking extra interest in the stock as they increase their holdings.

Growth: Good revenue growth. With 49.4% growth over past three years, the company is going strong.

Profitability: Very strong Profitability. One year profit margin are 28%.

Momentum: Stock price has a strong positive momentum. Stock is up 12.3% in last 30 days.

Technicals: Bullish SharesGuru indicator.

Cons

No major cons observed.

The Good, Bad and Ugly

Growth

Profitability

Size

Dilution Rank

Balance Sheet

Momentum

Technicals

Smart Money

Insider Trading

Sector Comparison: CARERATING vs Capital Markets

Comprehensive comparison against sector averages

Comparative Metrics

CARERATING metrics compared to Capital

Category	CARERATING	Capital
PE	31.60	25.59
PS	8.93	8.35
Growth	17.2 %	21.6 %

Performance Comparison

CARERATING vs Capital (2021 - 2025)

Key Insights

1. CARERATING is NOT among the Top 10 largest companies in Capital Markets.
2. The company holds a market share of 0.8% in Capital Markets.
3. In last one year, the company has had a below average growth that other Capital Markets companies.

Share Holdings

Understand CARE Ratings ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.

Holding Pattern

Major Shareholders

Share Holding Details

As of 2025-03-31

Shareholder Name	Holding %
LIFE INSURANCE CORPORATION OF INDIA	9.58%
CRISIL LIMITED	8.76%
NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA MUL	7.99%
PARI WASHINGTON INDIA MASTER FUND, LTD.	5.85%
PARI WASHINGTON INVESTMENT FUND	3.68%
MIRAE ASSET SMALL CAP FUND	2.86%
TENCORE PARTNERS MASTER LTD.	2.78%
INDIA INSIGHT VALUE FUND	2.41%
AQUAMARINE MASTER FUND L.P	2.18%
SBI BANKING & FINANCIAL SERVICES FUND	1.8%
RUSSELL INVESTMENTS LIMITED	1.77%
WHITEOAK CAPITAL FLEXI CAP FUND	1.36%
1729 CAPITAL	1.33%
VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND	1.28%
TATA STEEL LIMITED	1.18%
VANGUARD EMERGING MARKETS STOCK INDEX FUND, A SERI	1.1%
S.SHYAM	1.08%

Overall Distribution

Distribution across major stakeholders

Ownership Distribution

Distribution across major institutional holders

Cash Flow for CARE Ratings

Standalone figures (in Rs. Crores) / View Consolidated Data

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022
Finance costs	260%	1.48	0.7	0.4
Depreciation	-5.7%	7.65	8.05	6.99
Impairment loss / reversal	-47%	3.5	5.72	0
Dividend income	267.6%	2.25	1.34	1.59
Adjustments for interest income	31%	39	30	24
Share-based payments	-	2.34	0	6.29
Net Cashflows from Operations	17.7%	147	125	89
Income taxes paid (refund)	31%	39	30	26
Net Cashflows From Operating Activities	12.8%	107	95	63
Cashflows used in obtaining control of subsidiaries	-	20	0	0
Proceeds from sales of PPE	-3.1%	0	0.03	0.18
Purchase of property, plant and equipment	-53.4%	3.59	6.56	14
Proceeds from sales of long-term assets	-100.6%	0	172	0
Purchase of other long-term assets	-100.5%	0	194	0
Cash receipts from repayment of advances and loans made to other parties	-	0.6	0	0
Dividends received	267.6%	2.25	1.34	1.59
Interest received	125%	37	17	25
Other inflows (outflows) of cash	-1031.4%	-66.25	8.22	0.4
Net Cashflows From Investing Activities	-1782.3%	-59.61	-2.22	-22.47
Proceeds from issuing shares	-	0	0	6.44
Proceeds from exercise of stock options	359.9%	7.53	2.42	0
Payments of lease liabilities	-	1.29	0	2.73
Dividends paid	10.3%	65	59	38
Other inflows (outflows) of cash	91.2%	0.75	-1.85	0
Net Cashflows from Financing Activities	2.8%	-59.96	-61.74	-34.59
Net change in cash and cash eq.	-144.1%	-12.22	31	6.08

Consolidated figures (in Rs. Crores) / View Standalone Data

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022
Finance costs	-	1.71	1	0.46
Depreciation	-10%	10	11	7.71
Unrealised forex losses/gains	45.3%	-0.16	-1.12	0
Dividend income	5982.4%	41	0.32	0.71
Adjustments for interest income	-102.1%	0.35	32	25
Share-based payments	-	2.71	0	6.53
Net Cashflows from Operations	16.8%	133	114	97
Income taxes paid (refund)	32.3%	42	32	29
Net Cashflows From Operating Activities	11.1%	91	82	68
Proceeds from sales of PPE	-3.1%	0	0.03	0.22
Purchase of property, plant and equipment	-25.7%	9.17	12	19
Proceeds from sales of long-term assets	-100.6%	0	156	0
Purchase of other long-term assets	-100.7%	0	151	0
Dividends received	4.4%	0.35	0.32	0.71
Interest received	129.4%	40	18	24
Other inflows (outflows) of cash	-	-72.43	0	0
Net Cashflows From Investing Activities	-433.9%	-39.07	13	-27.32
Proceeds from issuing shares	-	0	0	6.44
Proceeds from exercise of stock options	381.7%	7.84	2.42	0
Payments of lease liabilities	-59.9%	2.26	4.14	2.82
Dividends paid	11.9%	67	60	38
Interest paid	-	0	0	0.46
Other inflows (outflows) of cash	67%	0.06	-1.85	0
Net Cashflows from Financing Activities	0.6%	-62.96	-63.33	-35.14
Net change in cash and cash eq.	-139.2%	-11.14	32	5.55

Balance Sheet for CARE Ratings

Standalone figures (in Rs. Crores) / View Consolidated Data

Description	(%) Q/Q	Sep-2024	Mar-2024	Sep-2023	Mar-2023	Sep-2022	Mar-2022
Cash and cash equivalents	-31%	21	30	84	43	121	12
Current investments	-	0	0	0	0	0	0
Loans, current	900%	1.4	0.95	0.44	0.27	0.2	0.22
Total current financial assets	2.6%	625	609	578	553	556	517
Current tax assets	-14.9%	0	0.13	3.3	2.49	1.73	7.25
Total current assets	2.8%	631	614	593	559	574	528
Property, plant and equipment	-14.3%	79	92	79	77	79	78
Capital work-in-progress	-	0	0	0	0	0	0
Non-current investments	28.9%	166	129	120	112	104	71
Loans, non-current	0%	13	13	7.84	1.44	0.33	9.57
Total non-current financial assets	25.4%	179	143	129	114	106	92
Total non-current assets	16.5%	277	238	227	208	196	181
Total assets	6.7%	908	851	820	767	770	709
Borrowings, non-current	-107.1%	0	15	0	12	0	0
Total non-current financial liabilities	0%	15	15	16	17	1.14	1.83
Provisions, non-current	-10%	10	11	9.84	9.91	8.56	11
Total non-current liabilities	0%	32	32	31	31	16	19
Borrowings, current	-308.3%	0	1.48	0	0	0	0
Total current financial liabilities	-16.7%	21	25	19	18	46	21
Provisions, current	-29.3%	3.37	4.35	3.86	5.71	5.23	2.36
Current tax liabilities	-	5.06	0	8.36	0	0	0
Total current liabilities	23.7%	74	60	71	41	79	40
Total liabilities	15.4%	106	92	103	72	95	58
Equity share capital	0%	30	30	30	30	30	30
Total equity	5.7%	802	759	717	695	675	650
Total equity and liabilities	6.7%	908	851	820	767	770	709

Consolidated figures (in Rs. Crores) / View Standalone Data

Description	(%) Q/Q	Sep-2024	Mar-2024	Sep-2023	Mar-2023	Sep-2022	Mar-2022
Cash and cash equivalents	78.4%	67	38	96	49	131	18
Current investments	-	0	0	0	0	0	0
Loans, current	1060%	1.48	0.95	0.47	0.29	0.2	0.22
Total current financial assets	8.4%	711	656	612	587	594	542
Current tax assets	58.3%	6.65	4.57	6.35	4.5	6.57	12
Total current assets	8%	729	675	642	603	625	564
Property, plant and equipment	-17.5%	81	98	81	80	81	79
Capital work-in-progress	-	0	0	0	0	0	0
Goodwill	0%	7.95	7.95	7.95	7.95	7.95	7.95
Non-current investments	0%	44	44	43	44	44	44
Loans, non-current	0%	0.34	0.34	0.34	0.34	0.33	0.25
Total non-current financial assets	-11.8%	46	52	54	56	48	57
Total non-current assets	-1.2%	165	167	172	168	157	163
Total assets	6.2%	894	842	814	771	781	727
Borrowings, non-current	-106.2%	0	17	0	0	0	0
Total non-current financial liabilities	6.2%	18	17	18	15	4.49	5.64
Provisions, non-current	-20%	13	16	12	13	10	12
Total non-current liabilities	0%	38	38	36	33	21	23
Borrowings, current	-170.9%	0	2.41	0	0	0	0
Total current financial liabilities	-25.7%	27	36	27	30	52	27
Provisions, current	-4.3%	5.86	6.08	5.37	7.22	6.25	2.92
Current tax liabilities	1213.6%	6.78	1.44	8.59	0.28	0.22	0.21
Total current liabilities	19.2%	94	79	86	59	90	51
Total liabilities	12.1%	131	117	122	92	111	75
Equity share capital	0%	30	30	30	30	30	30
Non controlling interest	20.4%	8.78	7.46	7.86	6.83	6.57	5.31
Total equity	5.1%	762	725	692	679	670	653
Total equity and liabilities	6.2%	894	842	814	771	781	727

Income Statement for CARE Ratings

Standalone figures (in Rs. Crores) / View Consolidated Data

QuarterlyAnnual

Description	(%) Q/Q	Dec-2024	Sep-2024	Jun-2024	Mar-2024	Dec-2023	Sep-2023
Revenue From Operations	-22.8%	79	102	65	75	67	85
Other Income	-9.1%	11	12	13	14	11	12
Total Income	-20.5%	90	113	78	88	77	97
Employee Expense	11.8%	39	35	35	32	32	32
Finance costs	-1.7%	0.39	0.4	0.41	0.4	0.41	0.34
Depreciation and Amortization	3.1%	2.01	1.98	2	1.97	1.97	1.91
Other expenses	-0.2%	9.78	9.8	7.75	8.18	11	8.22
Total Expenses	8.7%	51	47	46	42	46	42
Profit Before exceptional items and Tax	-41.5%	39	66	32	46	32	55
Total profit before tax	-41.5%	39	66	32	46	32	55
Current tax	-37.5%	11	17	8.09	11	9.62	13
Deferred tax	-43.1%	-0.76	-0.23	0.38	0.38	-0.12	0.37
Total tax	-44.6%	9.86	17	8.46	11	9.5	14
Total profit (loss) for period	-42.9%	29	50	24	35	22	41
Other comp. income net of taxes	25.1%	-0.43	-0.91	-0.07	0.06	-0.23	0.13
Total Comprehensive Income	-41.7%	29	49	24	35	22	41
Earnings Per Share, Basic	-43.3%	9.85	16.6	8.036	11.669	7.468	13.706
Earnings Per Share, Diluted	-43.4%	9.8	16.54	7.998	11.619	7.442	13.664

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020	Mar-2019
Revenue From Operations	13.7%	283	249	219	220	219	-
Other Income	27.8%	47	37	28	32	31	-
Total Income	15.4%	330	286	248	252	250	-
Employee Expense	20.4%	125	104	107	103	97	-
Finance costs	260%	1.48	0.7	0.4	0.57	0.74	-
Depreciation and Amortization	-5.7%	7.65	8.05	6.99	7.09	6.91	-
Other expenses	-2.9%	34	35	27	28	46	-
Total Expenses	13.6%	168	148	141	139	150	-
Profit Before exceptional items and Tax	17.5%	162	138	107	113	100	-
Total profit before tax	17.5%	162	138	107	113	100	-
Current tax	20.6%	42	35	28	23	21	-
Deferred tax	95.6%	0.92	-0.83	-5.81	3.72	-1.06	-
Total tax	24.2%	42	34	23	27	20	-
Total profit (loss) for period	14.6%	119	104	84	86	80	-
Other comp. income net of taxes	34.2%	-0.23	-0.87	7.81	2.04	-0.7	-
Total Comprehensive Income	15.7%	119	103	92	88	80	-
Earnings Per Share, Basic	15.1%	40.12	35	28.62	29.13	27.32	-
Earnings Per Share, Diluted	14.7%	404	35	28.47	29.08	27.32	-

Consolidated figures (in Rs. Crores) / View Standalone Data

QuarterlyAnnual

Description	(%) Q/Q	Dec-2024	Sep-2024	Jun-2024	Mar-2024	Dec-2023	Sep-2023
Revenue From Operations	-18.1%	96	117	79	90	79	96
Other Income	0%	12	12	12	10	14	11
Total Income	-16.4%	108	129	91	100	92	108
Employee Expense	8.9%	50	46	46	43	43	40
Finance costs	13.7%	0.56	0.49	0.46	0.46	0.47	0.41
Depreciation and Amortization	8.1%	3	2.85	2.8	2.67	2.6	2.63
Other expenses	0%	16	16	11	18	13	14
Total Expenses	7.8%	70	65	60	64	58	58
Profit Before exceptional items and Tax	-39.7%	39	64	30	36	34	50
Total profit before tax	-39.7%	39	64	30	36	34	50
Current tax	-41.2%	11	18	8.63	11	10	14
Deferred tax	-34.1%	-0.77	-0.32	0.41	0.36	-0.13	0.4
Total tax	-43.8%	10	17	9.04	12	10	14
Total profit (loss) for period	-41.3%	28	47	21	25	24	36
Other comp. income net of taxes	69.1%	0.37	-1.04	0.14	-0.06	-0.25	0.22
Total Comprehensive Income	-37.8%	29	46	22	24	24	36
Earnings Per Share, Basic	-42.4%	9.3	15.42	6.939	8.068	7.878	11.83
Earnings Per Share, Diluted	-42.6%	9.24	15.36	6.906	8.033	7.851	11.794

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020	Mar-2019
Revenue From Operations	19.1%	332	279	248	248	244	319
Other Income	24.3%	47	38	27	31	31	30
Total Income	19.3%	378	317	275	280	275	349
Employee Expense	23.3%	165	134	126	120	109	103
Finance costs	-	1.71	1	0.46	0.62	0.93	0
Depreciation and Amortization	-10%	10	11	7.71	7.8	7.77	3.33
Other expenses	20%	55	46	42	33	53	42
Total Expenses	21.6%	232	191	176	161	171	148
Profit Before exceptional items and Tax	16.8%	147	126	99	119	104	202
Total profit before tax	16.8%	147	126	99	119	104	202
Current tax	10.5%	43	39	29	24	22	60
Deferred tax	-112.2%	0.94	1.49	-7.52	3.41	-1.33	3.42
Total tax	10.3%	44	40	22	28	21	64
Total profit (loss) for period	21.4%	103	85	77	91	83	138
Other comp. income net of taxes	33%	-0.24	-0.85	7.83	2.16	-0.86	-2.05
Total Comprehensive Income	20.2%	102	85	85	93	83	136
Earnings Per Share, Basic	20.6%	33.768	28.17	25.45	30.38	27.96	46.66
Earnings Per Share, Diluted	20.2%	33.668	28.17	25.31	30.33	27.96	46.66

Investor Care
Dividend Yield	1.95%
Dividend/Share (TTM)	25
Shares Dilution (1Y)	0.48%
Diluted EPS (TTM)	39.54

Financial Health
Current Ratio	7.79
Debt/Equity	0.00
Debt/Cashflow	0.00

Valuation
Market Cap	3.83 kCr
Price/Earnings (Trailing)	31.6
Price/Sales (Trailing)	8.93
EV/EBITDA	20.94
Price/Free Cashflow	51.11
MarketCap/EBT	22.58

Fundamentals
Revenue (TTM)	428.68 Cr
Rev. Growth (Yr)	17.18%
Rev. Growth (Qtr)	-16.25%
Earnings (TTM)	121.18 Cr
Earnings Growth (Yr)	18.58%
Earnings Growth (Qtr)	-39.48%

Profitability
Operating Margin	39.56%
EBT Margin	39.56%
Return on Equity	15.89%
Return on Assets	13.56%
Free Cashflow Yield	1.96%

CARERATING - CARE Ratings Limited Share Price

What does CARE Ratings Limited do?

Revenue Breakdown

Sector Comparison: CARERATING vs Capital Markets

Comparative Metrics

Performance Comparison

Share Holdings

Holding Pattern

Share Holding Details

Overall Distribution

Ownership Distribution

Cash Flow for CARE Ratings

Balance Sheet for CARE Ratings

Income Statement for CARE Ratings

Investor Care

Financial Health

Valuation

Fundamentals

Profitability

Price to Sales Ratio

Revenue (Last 12 mths)

Net Income (Last 12 mths)