ICRA Limited (ICRA) AI Stock Analysis

• Market Cap: ₹60.78B
• Dividend Yield: 0.96%
• Average Volume (3M): 196.00
• Price to Earnings (P/E): 34.2
• Beta (1Y): 0.92
• Revenue Growth: 10.80%
• EPS Growth: 21.15%
• Country: IN
• Employees: 1,238
• Sector: Services
• Sector Strength: N/A
• Industry: Financial - Data & Stock Exchanges
• EPS (TTM): 44.11
• Shares Outstanding: 9,651,231
• 10 Day Avg. Volume: 122
• 30 Day Avg. Volume: 196
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹7,029.00
• Price Target Upside: 11.62% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 74 Outperform
• Price Target: ₹7,029.00 ▲(11.62% Upside)

ICRA Limited's strong financial performance is the primary driver of its overall score, supported by robust revenue growth and a solid balance sheet. Technical analysis indicates some short-term weakness, while valuation metrics suggest the stock may be overvalued. The absence of earnings call data and corporate events means these factors do not influence the score.

ICRA Limited Business Overview & Revenue Model

Company Description

ICRA Limited (ICRA) is a premier credit rating agency in India, offering a range of services in the areas of credit ratings, research, and risk management. Established in 1991, ICRA is a subsidiary of Moody's Investors Service, one of the world's leading credit rating agencies. ICRA provides ratings, research, and advisory services to a wide array of sectors including financial services, corporate, infrastructure, and small and medium enterprises (SMEs). Its core services include issuing credit ratings for various debt instruments, providing industry reports, and offering risk management solutions to help clients make informed financial decisions.

How the Company Makes Money

ICRA Limited generates revenue primarily through fees charged for its credit rating services. These fees are paid by issuers of debt instruments who seek ICRA's ratings to enhance the marketability of their financial products and to comply with regulatory requirements. In addition to credit ratings, ICRA earns from subscription fees for its research publications and advisory services in risk management. The company's association with Moody's also enhances its credibility and allows it to leverage global best practices, which in turn can attract more business. Key revenue streams include ratings for corporate debt, bank loans, structured finance, and public finance. ICRA's earnings are further supported by its capability to offer industry reports and customized research, which are sought after by investors, regulators, and policymakers.

ICRA Limited Financial Statement Overview

Summary

ICRA Limited exhibits strong financial health with consistent revenue growth and robust profitability metrics. The balance sheet is solid with low leverage, enhancing financial security. Cash flow generation is positive, although some volatility in cash flow components calls for cautious monitoring.

Income Statement

ICRA Limited has demonstrated strong revenue growth, with a consistent upward trajectory over the past five years. The gross profit margin has remained robust, highlighting effective cost management. The EBITDA and EBIT margins are healthy, reflecting solid operational efficiency. However, the decline in gross profit compared to the previous year warrants attention.

Balance Sheet

The company maintains a strong equity position with a solid equity ratio and low debt-to-equity ratio, reflecting financial stability. Increasing stockholders' equity and a steady growth in total assets indicate a robust financial foundation. The low level of debt minimizes financial risk, which is advantageous in the current market conditions.

Cash Flow

ICRA Limited has shown a positive trend in free cash flow growth, supported by consistent operating cash flow. The operating cash flow to net income ratio is strong, suggesting good cash generation from operations relative to net income. However, fluctuations in investing cash flow and substantial financing cash outflows may pose potential risks.

Breakdown	TTM	Dec 2025	Dec 2023	Dec 2023	Dec 2021	Dec 2020
Income Statement
Total Revenue	4.86B	4.98B	4.03B	4.46B	3.40B	2.99B
Gross Profit	1.89B	1.61B	1.96B	1.83B	1.76B	1.41B
EBITDA	2.49B	2.55B	1.92B	2.24B	1.61B	1.24B
Net Income	1.61B	1.70B	1.35B	1.51B	1.12B	816.60M
Balance Sheet
Total Assets	0.00	12.94B	11.01B	11.88B	9.78B	8.96B
Cash, Cash Equivalents and Short-Term Investments	6.63B	10.53B	5.08B	5.75B	3.70B	4.17B
Total Debt	0.00	131.35M	130.28M	126.83M	140.26M	169.61M
Total Liabilities	-9.59B	2.37B	1.46B	2.07B	1.31B	1.35B
Stockholders Equity	9.59B	10.53B	9.50B	9.76B	8.44B	7.58B
Cash Flow
Free Cash Flow	0.00	1.32B	901.70M	1.00B	921.54M	728.71M
Operating Cash Flow	0.00	1.45B	992.58M	1.07B	973.75M	763.84M
Investing Cash Flow	0.00	-168.90M	-768.39M	274.94M	-718.62M	-321.14M
Financing Cash Flow	0.00	-1.03B	-321.26M	-1.37B	-320.29M	-320.31M

ICRA Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 6297.35
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ICRA, the sentiment is Negative. The current price of 6297.35 is above the 20-day moving average (MA) of 6241.59, below the 50-day MA of 6504.91, and above the 200-day MA of 6156.33, indicating a neutral trend. The MACD of -40.43 indicates Negative momentum. The RSI at 46.50 is Neutral, neither overbought nor oversold. The STOCH value of 55.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:ICRA.

ICRA Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ICRA	74 Outperform	₹60.78B	34.24		0.96%	10.80%	21.15%
CRISIL	67 Neutral	₹366.06B	50.30		1.15%	6.03%	11.92%
CARERATING	65 Neutral	₹45.63B	31.99		1.12%	21.24%	36.98%
Sector *	56 Neutral	$13.56B	12.83	10.03%	0.92%	7.13%	-12.93%

ICRA Limited Corporate Events

ICRA Limited Announces Virtual AGM and E-Voting Details

ICRA Limited announced the scheduling of its Thirty-fourth Annual General Meeting (AGM) to be held on July 31, 2025, via video conferencing. This meeting will include discussions on e-voting, reflecting the company’s commitment to leveraging technology for stakeholder engagement and compliance with regulatory requirements.