Arthneeti

CARE Ratings Q2 FY27 Share Price & Earnings Call Analysis

₹1,620.20+0.53% today
Market cap
₹4,882 Cr
P/E
27.48
ROE
19.69%
PEG
1.03
Price to sales
9.95
Debt to equity
0.03
52W high / low
₹1,800 / ₹1,412
Sales growth (5Y)
13.75%
EBITDA margin
41.59%
Net profit margin
36.72%
Sales (last year)
₹491 Cr

CARE Ratings is a leading credit rating agency of India. The Company provides various credit ratings that helps corporates to raise capital for their various requirements and assists the investors to form an informed investment decision based on the credit risk and their own riskreturn expectations.(Source : 202003-01 Annual Report Page No:134)

Guidance scorecard · Q2 FY27 call

What CARE Ratings's management guided
and where it ranks in Capital Markets

#19of 22 in
Capital Markets
Revenue10–20%MarginsFlatCapexPlannedFundraisingWhat management saidOrder bookWhat management said

RevenueQ4 FY26 call

10–20%
  • CARE Ratings expects to continue outpacing overall industry growth in domestic ratings, particularly leveraging faster growth in mid-corporates and bank loan segments.
  • Non-rating segments like CareEdge Analytics (with EdgeAvira.AI platform) are approaching breakeven and aim to scale recurring revenue through long sales cycles and client retention.
  • Advisory business, especially sustainability and ESG advisory, is growing steadily with good margins and expanding client base.
  • International operations' growth depends on the development stage of debt markets in respective geographies; fast-growing markets offer faster traction.

2 more points from CARE Ratings's call on revenue

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Full Q4 FY26 analysis

MarginsQ4 FY26 call

Flat

See what CARE Ratings said on margins — free account, 30 seconds.

Full Q4 FY26 analysis

CapexQ4 FY26 call

Planned
  • CARE Ratings Limited is currently holding cash on its balance sheet and remains open to strategic inorganic acquisitions that fit their core domains of credit risk, analytics, and consulting services.
  • Their acquisition strategy is disciplined, seeking targets offering strategic fit, foothold in adjacent areas or geographies, and valuations reflecting intrinsic value, avoiding speculative premiums.
  • No recent acquisitions have materialized due to valuation challenges and a focus on stabilizing and turning around existing subsidiaries first.
  • The company has achieved breakeven in key subsidiaries (e.g., CAAPL), positioning them better to integrate acquisitions without management distraction.

2 more points from CARE Ratings's call on capex

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Full Q4 FY26 analysis

FundraisingQ4 FY26 call

See what CARE Ratings said on fundraising — free account, 30 seconds.

Full Q4 FY26 analysis

Order bookQ4 FY26 call

Ask what CARE Ratings said on the order book →

Full Q4 FY26 analysis
Full Capital Markets ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Capital Markets
on management's own guidance

  1. Nippon Life Ind.Good growth
    2
  2. BSEGood growth
    1
  3. Motil.Oswal.Fin.Good growth
    3
See all potential multibaggersWhere does CARE Ratings rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Capital Markets companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
1BSE20–40%Flat₹1.37L Cr48.4
2Nippon Life Ind.20–40%Flat₹68,184 Cr41.6
3Motil.Oswal.Fin.20–40%Flat₹63,771 Cr32.2
420–40%Flat₹31,481 Cr29.1
520–40%Flat₹15,334 Cr43.8
620–40%Flat₹12,638 Cr51.6

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Pro shows every company guiding 40%+ revenue growth →Full Capital Markets ranking

CARE Ratings announcements

All announcements →

Financials of CARE Ratings

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

Shareholder Pattern

CARE Ratings

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
FIIs +21.67%22.91%23.37%24.79%24.75%23.75%24.62%23.61%23.00%23.25%23.41%23.61%
DIIs +26.32%26.89%26.15%25.28%27.50%29.38%29.76%31.60%31.30%31.38%31.58%32.22%
Public +51.99%50.20%50.47%49.92%47.74%46.87%45.61%44.79%45.70%45.37%45.01%44.18%
No. of Shareholders54,53952,46853,14053,60252,00751,39561,11156,93159,13958,97858,46657,301

Financials of CARE Ratings

Quarterly Results

Quarter-by-quarter operating performance

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales +66967990791179611094136112131112
Expenses +49555561576266626668727077
Operating Profit18422329225630472868406135
OPM %27%43%30%32%28%47%32%43%30%50%36%46%31%
Other Income +12111410121212151413131615
Interest0000001111111
Depreciation3333333333444
Profit before tax26503436306439593777497245
Tax %31%29%30%32%30%27%27%26%29%26%25%26%27%
Net Profit +18362425214728432657375333
EPS in Rs5.9911.817.888.076.9415.419.2914.248.6118.8911.9617.5810.73

Financials of CARE Ratings

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +261279287333319244248248279332402473491
Expenses +101105105122144162153168180220247276287
Operating Profit16017418221117581968099112155197204
OPM %61%62%63%63%55%33%39%32%36%34%39%42%42%
Other Income +4493425303131273847515556
Interest1000011012222
Depreciation543338881110121415
Profit before tax19717821223320210411999126147192235243
Tax %30%33%31%30%32%20%23%22%32%30%27%26%
Net Profit +13812014816213883917785103140174180
EPS in Rs47.5340.6850.1355.1346.6627.9630.3925.3428.1233.6745.8556.9759.16
Dividend Payout %166%69%56%100%64%70%56%67%89%53%39%39%

Financials of CARE Ratings

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital292929292929293030303030
Reserves330379491567521504559618643687776902
Borrowings +0000007917202426
Other Liabilities +879464616485746980105128146
Total Liabilities4465025846586146186717257708429581,105
Fixed Assets +6564616083938596107109119122
CWIP000001384635
Investments33538146651843933924044444413487
Other Assets +4658577993185343577614683702890
Total Assets4465025846586146186717257708429581,105

Financials of CARE Ratings

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +1071061191341096786688291123148
Cash from Investing Activity +157-41-22-258327-38-2713-39-58-94
Cash from Financing Activity +-276-66-96-99-195-107-43-35-63-63-54-59
Net Cash Flow-12-1111-4-135632-1111-6
Free Cash Flow96104118131826382497182108140
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit104%95%101%95%98%125%114%122%115%119%112%107%

Financials of CARE Ratings

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days223132435461312527252927
Inventory Days
Days Payable
Cash Conversion Cycle223132435461312527252927
Working Capital Days-82-65-10-11314-3635638591451316
ROCE %39%46%44%41%35%19%21%16%19%21%25%26%

Guidance history

How CARE Ratings's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q4 FY26 call →10–20%FlatPlanned——
Q4 FY25 call →20–40%FlatPlanned—Rising

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

55out of 100

Momentum score · price trend

55 out of 100 — Steady

Over the past year its share price has moved roughly in the middle of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months+2.9%63%
Last 6 months−3.0%48%
Last 3 months−5.1%53%
How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For CARE Ratings: 0.4 × 63 + 0.4 × 48 + 0.2 × 53 = 55.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What CARE Ratings's management said in earlier quarters

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