ICRA Limited has informed the Exchange about Transcript
ICRA · price
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ICRA reported a strong FY25 with group revenue up 11.6% YoY and PAT up 12.5%; the Ratings segment led with 14.4% growth while Research & Analytics grew 8.3%, partly held back by the planned exit from ESG assignments. Q4 FY25 saw 9.8% revenue growth and a sharp 19.1% PAT increase, with management highlighting healthy margin expansion in the Ratings business driven by operating leverage and technology investments. The Board has recommended a dividend of INR 60 per share (up from INR 27), and the company holds over INR 1,000 cr in cash, with management open to further returns or inorganic investments. Management targets a 50-50 revenue split between Knowledge Services and the non-KS analytics business over the next 3-4 years, and sees continued room for margin expansion if revenue growth holds. New partnerships with BitSight (cyber risk) and FTSE Russell (fixed income indices) are expected to support future growth.
Positive signals for shareholders: consistent margin expansion in the core Ratings business, a significantly higher dividend, and INR 1,000+ cr cash on the balance sheet available for distribution or strategic investments. Near-term watchpoint is the Knowledge Services drag from the ESG exit, though management views this as now behind them.