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ICRA Ltd Q2 FY27 results are out (Jul–Sep 2026) →Revenue ₹178 Cr +29.9% YoYSee revenue, profit and what management said. You are viewing Q3 FY26.
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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 capex.

Revenue
₹164Cr
+35.5% YoY
+19.7% QoQ
Net profit
₹39Cr
−7.1% YoY
−18.7% QoQ
Margin
35%
0 pp YoY
−1 pp QoQ

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 investor presentation reports, not management guidance.

Price₹4,443
Market cap₹4.4K Cr
P/E22.3

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] - 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]

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 from ICRA Ltd's call on revenue

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Profitability & Margins

EBITDA (Q3 FY2026): ₹61.8 crore, up from ₹55.8 crore in Q3 FY2025 (10.9% YoY increase) [Page 7]

Locked: what ICRA Ltd said on margins

Also locked on this page: fundraising

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Capital Expenditure Plans

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).

Top-ranked in Capital Markets

Ranked on what management guided this quarter

Guidance-ranked
1BSE
Rev 2Mar 3
2Motilal Oswal Financial Services
Rev 2Mar 3
3
Rev 2Mar 3
4
Rev 2Mar 3
5
Rev 2Mar 3
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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

It discusses growth in bank credit and bond issuance trends in the market context.

Locked: what ICRA Ltd said on fundraising

Also locked on this page: margins

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Order Book & Pipeline

Specifically: - There is no reference to order book size, order inflow volumes, or pending orders in the document. - Key highlights include revenue growth, segment performance, and business outlook.

ICRA Ltd — Quarterly revenue & net profit

Revenue Net profit
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26
Jun 2026Q1 FY27
Sep 2026Q2 FY27

ICRA Ltd Q3 FY26 results — key figures

ICRA Ltd Q3 FY26 reported results vs Q3 FY25, ₹ crore
₹ CrQ3 FY26Q3 FY25YoYQ2 FY26QoQ
Revenue164121+35.5%137+19.7%
Operating profit (EBITDA)5742+35.7%49+16.3%
Operating margin35%35%0 pp36%-1 pp
Profit before tax5556-1.8%64-14.1%
Net profit (PAT)3942-7.1%48-18.7%
EPS (₹)40.2243.55-7.6%49.54-18.8%

Source: reported quarterly figures (Screener), ₹ crore.

Reported quarterly figures (₹ Cr). Latest (Q2 FY27): revenue ₹178 Cr, net profit ₹52 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

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What ICRA's management said in earlier quarters

Earlier calls (5)

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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] - 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]

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.

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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.