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ICRA Ltd

Q3 FY26Capital Markets

ICRA Q3 FY26: Revenue ₹163.6 Cr

Q3 FY26 investor presentation: what the company reported on revenue, margins and projects.

Price₹4,443
Market cap₹4.4K Cr
P/E22.3
Updated25 Sept 2026
Read4 min read

Based on ICRA Ltd's Q3 FY26 investor presentation. The company has not published an earnings-call transcript for this quarter, so figures here are what the presentation reports, not management guidance.

The short version

Q3 FY2026 revenue: ₹163.6 crore, up from ₹120.9 crore in Q3 FY2025 — a 35.3% year-on-year (YoY) increase (Page 7). EBITDA (Q3 FY2026): ₹61.8 crore, up from ₹55.8 crore in Q3 FY2025 (10.9% YoY increase) [Page 7] - Operating Margin: Not explicitly stated in the presentation - Profit After Tax (PAT): Not directly reported in the slides provided; only Profit Before Tax (PBT) is given: - PBT Q3 FY2026: ₹184.6 crore vs ₹159.9 crore in Q3 FY2025 (15.4% YoY increase) [Page 7] - Explicit Margin Outlook: No clear or explicit margin outlook statement is provided in the presentation.

From ICRA Ltd's Q3 FY26 earnings-call transcript · updated 25 Sept 2026.

Revenue & Sales Performance

  • Q3 FY2026 revenue: ₹163.6 crore, up from ₹120.9 crore in Q3 FY2025 — a 35.3% year-on-year (YoY) increase (Page 7).
  • 9M FY2026 revenue: ₹424.7 crore, up from ₹361.8 crore in 9M FY2025 — a 17.4% YoY increase (Page 7).
  • Ratings and ancillary services revenue grew from ₹49.2 crore (Q3 FY2025) to ₹72.3 crore (Q3 FY2026) — 47% increase, Research & Analytics grew from ₹14.6 crore to ₹23.4 crore — 60% growth (Page 8).
  • Strong revenue growth attributed partly to acquisition of Fintellix, contributing ₹24.9 crore in Q3 FY2026 (Page 7).

2 more points management made on revenue & sales performance

Profitability & Margins

See what ICRA Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

The investor presentation does not explicitly describe any specific capex, capacity expansion, or new plant/project details with amounts, status, or timelines. However, the following related points are mentioned: - The Government of India’s capital expenditure (capex) showed frontloading in H1 FY2026 but is implicitly expected to contract in H2 FY2026, which may weigh upon growth in H2 (Page 5). - No detailed capex plans, amounts, or new projects by ICRA Limited itself are disclosed in the presentation. Therefore, based solely on the presentation content, there are no specific capex, capacity expansion, or new plant/project investments outlined with amounts, status, or timelines.

Top-ranked in Capital Markets

Ranked on what management guided this quarter

5x potential
1BSE
Rev 2Mar 3
3
Rev 2Mar 3
4
Rev 2Mar 3
5
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

See what ICRA Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The investor presentation does not explicitly mention any details regarding order book, order inflow, or pending orders. Specifically: - There is no reference to order book size, order inflow volumes, or pending orders in the document. - The presentation focuses on financial performance, segmental revenue, macro outlook, and market commentary.

2 more points management made on order book & pipeline

ICRA Ltd — Quarterly revenue & net profit

Revenue Net profit
Dec 2024
Mar 2025
Jun 2025
Sep 2025
Dec 2025
Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹175 Cr, net profit ₹53 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

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Frequently Asked Questions

What were ICRA Ltd Q3 FY26 results?

Q3 FY2026 revenue: ₹163.6 crore, up from ₹120.9 crore in Q3 FY2025 — a 35.3% year-on-year (YoY) increase (Page 7). EBITDA (Q3 FY2026): ₹61.8 crore, up from ₹55.8 crore in Q3 FY2025 (10.9% YoY increase) [Page 7] - Operating Margin: Not explicitly stated in the presentation - Profit After Tax (PAT): Not directly reported in the slides provided; only Profit Before Tax (PBT) is given: - PBT Q3 FY2026: ₹184.6 crore vs ₹159.9 crore in Q3 FY2025 (15.4% YoY increase) [Page 7] - Explicit Margin Outlook: No clear or explicit margin outlook statement is provided in the presentation.

What is ICRA Ltd share price analysis?

ICRA Ltd currently shows a neutral. The stock trades at a P/E of 22.3 with a market cap of ₹4,386 Cr. Investors should review the full earnings analysis for detailed insights.

Is ICRA Ltd planning capital expenditure?

The investor presentation does not explicitly describe any specific capex, capacity expansion, or new plant/project details with amounts, status, or timelines.

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This analysis is AI-generated based on publicly available earnings data and the company's investor presentation. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.