Investor presentation
ICRA · price
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ICRA Limited reported strong FY2026 results with revenue growing 20.4% to ₹599.5 crore and PBT rising 10.0% to ₹257.4 crore. PAT increased 6.6% to ₹182.5 crore, while the company declared a dividend of ₹105 per share (including ₹35 special dividend), up 75%. The Ratings segment saw revenue of ₹336.5 crore with improved margins, while Research & Analytics (now including Fintellix acquisition) posted ₹265.8 crore in revenue. Q4 revenue stood at ₹174.9 crore. The company highlighted 35 years of operations, the Fintellix acquisition strengthening its RegTech capabilities, and the launch of AI-driven Research Assist tool. For FY2027, ICRA projects GDP growth to slow to 6.2% from 7.5%, with inflation rising to 4.7% and current account deficit widening to 2.0% of GDP, citing West Asia geopolitical risks and monsoon concerns as key downside factors.
ICRA delivered robust revenue growth driven by acquisitions and market share gains in ratings and analytics. The shift toward higher-margin technology-driven businesses like BankTech and CapTech could support future profitability, though investors should monitor margin pressures from the evolving revenue mix and cautious macro outlook for FY2027.