ICRA Ltd
ICRA Limited was set up in 1991 by leading financial/investment institutions, commercial banks and financial services companies as an independent and professional investment Information and Credit Rating Agency.[1] It is involved in rating, management consulting and outsourcing and information services etc.[2]
- Market Cap ₹ 5,672 Cr.
- Current Price ₹ 5,877
- High / Low ₹ 6,468 / 4,948
- Stock P/E 46.2
- Book Value ₹ 768
- Dividend Yield 1.75 %
- ROCE 20.0 %
- ROE 16.6 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 82.0%
Cons
- Stock is trading at 7.67 times its book value
- The company has delivered a poor sales growth of 1.77% over past five years.
- Earnings include an other income of Rs.91.0 Cr.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Credit Rating Agencies Industry: Miscellaneous
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 149 | 163 | 181 | 195 | 211 | 222 | 230 | 208 | 181 | 195 | 223 | 251 | |
| 90 | 96 | 129 | 118 | 129 | 124 | 141 | 149 | 139 | 140 | 163 | 184 | |
| Operating Profit | 59 | 67 | 52 | 77 | 82 | 98 | 89 | 59 | 42 | 55 | 60 | 68 |
| OPM % | 40% | 41% | 29% | 40% | 39% | 44% | 39% | 28% | 23% | 28% | 27% | 27% |
| 16 | 17 | 28 | 20 | 56 | 51 | 45 | 41 | 36 | 45 | 66 | 91 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 2 | 2 | 1 | 4 |
| Depreciation | 2 | 2 | 4 | 4 | 3 | 3 | 2 | 5 | 5 | 5 | 7 | 8 |
| Profit before tax | 73 | 82 | 76 | 94 | 134 | 146 | 131 | 92 | 72 | 93 | 117 | 147 |
| Tax % | 17% | 28% | 34% | 35% | 27% | 31% | 27% | 29% | 26% | 21% | 18% | 16% |
| 60 | 59 | 50 | 61 | 98 | 100 | 96 | 65 | 53 | 73 | 96 | 123 | |
| EPS in Rs | 60.38 | 58.73 | 50.42 | 61.47 | 98.77 | 101.30 | 99.44 | 67.33 | 54.86 | 75.96 | 99.40 | 127.61 |
| Dividend Payout % | 36% | 39% | 48% | 41% | 27% | 30% | 30% | 40% | 49% | 37% | 131% | 78% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 4% |
| 5 Years: | 2% |
| 3 Years: | 11% |
| TTM: | 13% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 10% |
| 5 Years: | 5% |
| 3 Years: | 33% |
| TTM: | 28% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 7% |
| 5 Years: | 13% |
| 3 Years: | 21% |
| 1 Year: | 7% |
| Return on Equity | |
|---|---|
| 10 Years: | 14% |
| 5 Years: | 13% |
| 3 Years: | 14% |
| Last Year: | 17% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 |
| Reserves | 312 | 346 | 367 | 398 | 492 | 561 | 539 | 573 | 605 | 655 | 727 | 732 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 16 | 14 | 13 | 10 | |
| 82 | 90 | 117 | 125 | 93 | 94 | 99 | 101 | 86 | 88 | 101 | 118 | |
| Total Liabilities | 404 | 445 | 494 | 534 | 595 | 664 | 647 | 684 | 717 | 767 | 851 | 869 |
| 16 | 17 | 17 | 15 | 13 | 12 | 11 | 29 | 25 | 26 | 27 | 23 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 2 | 2 | 1 | 1 | 1 |
| Investments | 321 | 372 | 344 | 271 | 337 | 365 | 208 | 131 | 204 | 481 | 658 | 682 |
| 67 | 57 | 134 | 247 | 245 | 287 | 427 | 522 | 486 | 260 | 165 | 163 | |
| Total Assets | 404 | 445 | 494 | 534 | 595 | 664 | 647 | 684 | 717 | 767 | 851 | 869 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 41 | 53 | 58 | 56 | 45 | 52 | 60 | 3 | 53 | 39 | 53 | 57 | |
| -25 | -31 | -29 | -31 | 24 | -7 | 56 | 24 | -12 | -14 | -24 | 71 | |
| -16 | -26 | -27 | -29 | -68 | -31 | -120 | -38 | -30 | -30 | -31 | -130 | |
| Net Cash Flow | 0 | -3 | 2 | -4 | 1 | 14 | -4 | -11 | 11 | -6 | -2 | -3 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 30 | 26 | 44 | 31 | 32 | 36 | 31 | 59 | 32 | 19 | 21 | 34 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 30 | 26 | 44 | 31 | 32 | 36 | 31 | 59 | 32 | 19 | 21 | 34 |
| Working Capital Days | -104 | -149 | -165 | -166 | -99 | -80 | -81 | -35 | -108 | -103 | -126 | -119 |
| ROCE % | 20% | 20% | 18% | 22% | 28% | 26% | 23% | 17% | 12% | 14% | 17% | 20% |
Documents
Announcements
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
from nse
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Financial Year 2013
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Financial Year 2012
from bse
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Financial Year 2012
from nse
Concalls
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May 2024Transcript PPT
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Jan 2024TranscriptNotesPPT
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Oct 2023Transcript PPT
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Aug 2023TranscriptNotesPPT
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May 2023Transcript PPT
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Feb 2023TranscriptNotesPPT
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Oct 2022TranscriptNotesPPT
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Aug 2022TranscriptNotesPPT
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May 2022TranscriptNotesPPT
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Jan 2022TranscriptNotesPPT
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Oct 2021TranscriptNotesPPT
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Jul 2021TranscriptNotesPPT
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May 2021TranscriptNotesPPT
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May 2021TranscriptNotesPPT
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Feb 2021TranscriptNotesPPT
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Nov 2020TranscriptNotesPPT
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Aug 2020TranscriptNotesPPT
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Jul 2020TranscriptNotesPPT
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Feb 2020TranscriptNotesPPT
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Oct 2019TranscriptNotesPPT
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Aug 2019TranscriptNotesPPT
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May 2019TranscriptNotesPPT
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Jan 2019TranscriptNotesPPT
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Nov 2018TranscriptNotesPPT
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Aug 2018TranscriptNotesPPT
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May 2018TranscriptNotesPPT
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Feb 2018TranscriptNotesPPT
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Nov 2017TranscriptNotesPPT
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Aug 2017TranscriptNotesPPT
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May 2017TranscriptNotesPPT
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Feb 2017TranscriptNotesPPT
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Nov 2016TranscriptNotesPPT
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Aug 2016TranscriptNotesPPT
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May 2016TranscriptNotesPPT
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Feb 2016TranscriptNotesPPT
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Nov 2015TranscriptNotesPPT
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Aug 2015TranscriptNotesPPT
Range of Services
Rating Services - ICRA is one of India's most experienced credit rating agencies. It rates debt instruments issued by manufacturing companies, commercial banks, non-banking finance companies, financial institutions, public sector undertakings, and municipalities, among others.[1]
Industry Research - The company provides research services across the economy, industry, and companies. It researches 55 industries with the reports providing in-depth analysis across business and profitability outlook, industry analysis, competitive landscape, regulatory environment, etc. [1]