CARE Ratings Ltd Share Price ₹1,626 | P/E 31.6

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of CARE Ratings Ltd

Quarter-by-quarter operating performance

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Sales +	78	66	96	79	90	79	117	96	110	94	136	112	131
Expenses +	50	49	55	55	61	57	62	66	62	66	68	72	70
Operating Profit	27	18	42	23	29	22	56	30	47	28	68	40	61
OPM %	35%	27%	43%	30%	32%	28%	47%	32%	43%	30%	50%	36%	46%
Other Income +	10	12	11	14	10	12	12	12	15	14	13	13	16
Interest	1	0	0	0	0	0	0	1	1	1	1	1	1
Depreciation	3	3	3	3	3	3	3	3	3	3	3	4	4
Profit before tax	34	26	50	34	36	30	64	39	59	37	77	49	72
Tax %	41%	31%	29%	30%	32%	30%	27%	27%	26%	29%	26%	25%	26%
Net Profit +	20	18	36	24	25	21	47	28	43	26	57	37	53
EPS in Rs	6.60	5.99	11.81	7.88	8.07	6.94	15.41	9.29	14.24	8.61	18.89	11.96	17.58

Financials of CARE Ratings Ltd

Annual income statement trend

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Sales +	261	279	287	333	319	244	248	248	279	332	402	473
Expenses +	101	105	105	122	144	162	153	168	180	220	247	276
Operating Profit	160	174	182	211	175	81	96	80	99	112	155	197
OPM %	61%	62%	63%	63%	55%	33%	39%	32%	36%	34%	39%	42%
Other Income +	44	9	34	25	30	31	31	27	38	47	51	55
Interest	1	0	0	0	0	1	1	0	1	2	2	2
Depreciation	5	4	3	3	3	8	8	8	11	10	12	14
Profit before tax	197	178	212	233	202	104	119	99	126	147	192	235
Tax %	30%	33%	31%	30%	32%	20%	23%	22%	32%	30%	27%	26%
Net Profit +	138	120	148	162	138	83	91	77	85	103	140	174
EPS in Rs	47.53	40.68	50.13	55.13	46.66	27.96	30.39	25.34	28.12	33.67	45.85	56.97
Dividend Payout %	166%	69%	56%	100%	64%	70%	56%	67%	89%	53%	39%	39%

Financials of CARE Ratings Ltd

Capital structure and asset base

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	29	29	29	29	29	29	29	30	30	30	30	30
Reserves	330	379	491	567	521	504	559	618	643	687	776	902
Borrowings +	0	0	0	0	0	0	7	9	17	20	24	26
Other Liabilities +	87	94	64	61	64	85	74	69	80	105	128	146
Total Liabilities	446	502	584	658	614	618	671	725	770	842	958	1,105
Fixed Assets +	65	64	61	60	83	93	85	96	107	109	119	128
CWIP	0	0	0	0	0	1	3	8	4	6	3	0
Investments	335	381	466	518	439	339	240	44	44	44	134	87
Other Assets +	46	58	57	79	93	185	343	577	614	683	702	890
Total Assets	446	502	584	658	614	618	671	725	770	842	958	1,105

Financials of CARE Ratings Ltd

Operating, investing and financing cash movement

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity +	107	106	119	134	109	67	86	68	82	91	123	148
Cash from Investing Activity +	157	-41	-22	-25	83	27	-38	-27	13	-39	-58	-94
Cash from Financing Activity +	-276	-66	-96	-99	-195	-107	-43	-35	-63	-63	-54	-59
Net Cash Flow	-12	-1	1	11	-4	-13	5	6	32	-11	11	-6
Free Cash Flow	96	104	118	131	82	63	82	49	71	82	108	140
CFO/OP	104%	95%	101%	95%	98%	125%	114%	122%	115%	119%	112%	107%

Financials of CARE Ratings Ltd

Working capital efficiency and return ratios

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	22	31	32	43	54	61	31	25	27	25	29	27
Inventory Days
Days Payable
Cash Conversion Cycle	22	31	32	43	54	61	31	25	27	25	29	27
Working Capital Days	-82	-65	-10	-1	13	14	-3	635	638	591	451	332
ROCE %	39%	46%	44%	41%	35%	19%	21%	16%	19%	21%	25%	26%