Understanding ICRA Limited's Business and Operations

ICRA Limited is a credit rating agency that provides credit ratings and research to various stakeholders. It was incorporated in 1991 and is headquartered in Mumbai, India.

ICRA Limited offers a range of credit rating services, including long-term and short-term ratings, as well as ratings for various sectors such as corporate, financial institutions, and infrastructure. Its ratings are based on a thorough analysis of the creditworthiness of the entities being rated.

The company has a robust research and analysis process that involves evaluating various factors such as the entity's financial performance, management quality, and industry trends. This process helps ICRA Limited to provide accurate and reliable credit ratings to its clients.

ICRA Limited's credit ratings are widely recognized and respected in the Indian financial markets, and are used by various stakeholders such as investors, lenders, and regulators.

ICRA Limited's financial performance has been impressive, with revenue increasing from ₹301.06 crore in 2021 to ₹498.02 crore in 2025.

If this caught your attention, see: Currency Converter Crore to Usd

The company's net profit has also seen a steady growth, rising from ₹82.68 crore in 2021 to ₹171.20 crore in 2025. This indicates a strong financial health and stability.

Here's a breakdown of ICRA Limited's key financial ratios:

ICRA Limited's debt-to-equity ratio has remained at 0.00 since 2021, indicating that the company has effectively managed its debt and maintained a healthy balance sheet.

The financials of a company are a crucial aspect of its overall health and performance. The financials section of a company's report typically includes an overview, income statement, balance sheet, cash flow, and ratios.

Revenue is a key indicator of a company's financial performance, and in this case, it's been steadily increasing over the years, from 301.06 Cr in 2021 to 498.02 Cr in 2025.

The income statement provides a detailed breakdown of a company's revenues and expenses, which can help us understand its profitability. In this case, the net profit has been rising from 82.68 Cr in 2021 to 171.20 Cr in 2025.

Worth a look: 2021 Takeover of Newcastle United F.C.

Earnings per share (EPS) is another important metric that indicates a company's profitability. The EPS has been increasing from 84.89 in 2021 to 176.73 in 2025.

Book value per share (BVPS) is a measure of a company's net worth per share. The BVPS has been rising from 788.52 in 2021 to 1,091.29 in 2025.

Return on equity (ROE) is a measure of a company's profitability in relation to its shareholder equity. The ROE has been increasing from 10.77 in 2021 to 16.14 in 2025.

Debt to equity is a measure of a company's financial leverage. Fortunately, this company has been debt-free since 2021, with a debt to equity ratio of 0.00 in all the years mentioned.

Here's a summary of the company's financial performance over the years:

Sales by Activity is a key area of focus for ICRA Limited, and the numbers tell an interesting story. In 2021, Ratings & Ancillary Services generated 1.88B in sales, which increased to 2.03B in 2022.

The growth in Ratings & Ancillary Services was steady, with sales reaching 2.3B in 2023 and 2.58B in 2024. This segment continues to be a major contributor to ICRA's revenue, with sales projected to reach 2.95B in 2025.

Outsourced and Information Services, on the other hand, showed a decline in sales from 961M in 2021 to - (indicating a loss) in 2022. This segment has not reported any sales figures for 2023, 2024, or 2025.

Research & Analytics was another segment that did not report any sales figures until 2025, when it generated 2.05B in sales. Consulting Services, which generated 185M in sales in 2021, saw a significant decline to 62.23M in 2022 and 57.42M in 2023.

Market Services reported 171M in sales in 2022, increasing to 183M in 2023 and 180M in 2024. Knowledge Services, which reported 1.18B in sales in 2022, continued to grow, reaching 1.5B in 2023 and 1.55B in 2024.

Here's a breakdown of the sales figures for each segment:

ICRA Limited's Executive Committee is led by Ramnath Krishnan, who has been the CEO since October 21, 2021.

The company's Board of Directors is composed of seven members, including Ramnath Krishnan, who also serves as a Director/Board Member since October 21, 2021.

The Executive Committee of ICRA Limited is led by Ramnath Krishnan, who has been the CEO since October 21, 2021.

Ramnath Krishnan is responsible for making key strategic decisions for the company. He has been at the helm for over a year now, which is a significant amount of time in the corporate world.

Venkatesh Viswanathan, the Director of Finance/CFO, joined the committee on August 29, 2022. He brings a wealth of experience in finance to the table.

Anand Iyer, the Chief Technology/Science/R&D Officer, is another key member of the committee. Unfortunately, we don't have a specific date for when he joined the committee.

The other members of the Executive Committee include S. Shakeb Rahman, Compliance Officer, and Aditi Nayar, Corporate Officer/Principal. However, the dates for when they joined the committee are not specified.

Here's a brief overview of the Executive Committee members:

The Board of Directors is a crucial part of any organization, and ICRA Limited is no exception. The board is composed of experienced individuals who bring their expertise to the table.

The oldest member of the board is Palamadai Jayakumar, who is 63 years old. Shivani Kak's age is not publicly disclosed. The youngest member is Huay Huay Cheong, who is 48 years old. Ramnath Krishnan's age is not publicly disclosed. Anuranjita Kumar is 53 years old.

Here is a brief overview of the board members:

The board members have been appointed at different times, with Huay Huay Cheong joining in 2020 and Anuranjita Kumar joining in 2024.

As part of a company's management and governance, corporate actions play a crucial role in shaping its future. Corporate actions are decisions made by the company's board of directors that affect shareholders and the company's overall direction.

A board meeting is one such corporate action, where key decisions are made. ICRA Ltd has informed BSE that its board meeting is scheduled on October 28, 2025, to consider and approve various matters.

A unique perspective: Meeting of the Minds

Shareholders can also expect announcements from the company regarding its corporate actions. For instance, ICRA Ltd has made several announcements in the past few days, including one regarding a certificate of compliance under Regulation 74(5) of the SEBI (DP) Regulations on October 7, 2025.

Dividends are another type of corporate action, which can significantly impact shareholders. However, there is no information available in the article section about any dividend announcements.

Companies may also conduct bonus issues or splits as part of their corporate actions. However, there is no information available in the article section about any bonus or split announcements.

Here's a summary of the corporate actions mentioned in the article section:

Overall, corporate actions are an essential aspect of a company's management and governance, and shareholders should stay informed about these developments to make informed decisions.

ICRA Limited is an independent and professional investment information and credit rating agency.

The company was incorporated in 1991, which is a significant milestone in its history.

ICRA Limited is headquartered in Gurugram, India, at the ICRA Ltd Building No. 8, 2nd Floor, Tower ADLF Cyber City, Phase II.

Here are the company's key contact details:

ICRA Limited has a team of 411 employees, who work together to provide various services to clients.

The company's revenue for the last reported period (TTM) was INR 5.08 billion, and its net income was INR 1.77 billion.

ICRA Limited has a presence in several locations across India. You can find their primary office in Building No. 8, 2nd Floor, Tower A, DLF Cyber City, Phase II, in Gurgaon, Haryana.

Their other locations include Bengaluru, Karnataka; New Delhi, New Delhi; and Mumbai, Maharashtra. You can get directions to these offices by clicking on the "Get directions" link provided for each location.

Here's a breakdown of ICRA Limited's geographical presence in India: India accounted for INR 2.04B in sales in 2021, INR 2.18B in 2022, INR 2.44B in 2023, INR 2.82B in 2024, and INR 3.36B in 2025.

Check this out: New Delhi Television Share Price

Sales by Geography is a crucial aspect of understanding the reach and growth of ICRA Limited. The company's sales have been steadily increasing over the years, both within and outside of India.

According to the geographical breakdown of sales, India has been the primary market for ICRA Limited, with sales figures reaching 2.04B in 2021, 2.18B in 2022, 2.44B in 2023, 2.82B in 2024, and 3.36B in 2025.

Outside of India, sales have also been growing, albeit at a slower pace. In 2021, sales outside of India were 969M, increasing to 1.24B in 2022, 1.59B in 2023, 1.64B in 2024, and 1.62B in 2025.

Here's a breakdown of the sales figures by geography:

It's worth noting that the growth in sales outside of India has slowed down in recent years, with a slight decline in 2025.

Locations are scattered across India, with offices in major cities like Gurgaon, Mumbai, New Delhi, and Bengaluru. Gurgaon, a city in Haryana, is home to the primary office, located on the 2nd floor of Building No. 8, DLF Cyber City.

The address is Building No. 8, 2nd Floor, Tower A, DLF Cyber City, Phase II, Gurgaon, Haryana 122002, IN. You can get directions to this office if you're planning a visit.

Mumbai, a bustling city in Maharashtra, has an office located on the 3rd floor of Electric Mansion, Appasaheb Marathe Marg, Prabhadevi. This office is a great place to visit if you're in the area.

There's also an office in New Delhi, situated on the 11th floor of the Kailash Building, at 1105, Kasturba Gandhi Marg. This office is easily accessible by public transportation.

Lastly, Bengaluru, a city in Karnataka, has an office at 2 Murphy Road. If you're in the area, you can get directions to this office.

Here's a list of all the office locations:

ICRA Limited has a strong presence in the Indian credit rating industry, with a market share of around 70%. The company has been in operation since 1991, with a focus on providing credit ratings to various sectors.

The credit rating agency has a robust methodology for evaluating the creditworthiness of companies, which involves analyzing their financial statements, management quality, and industry trends. This thorough approach has earned ICRA Limited a reputation for accuracy and reliability.

The agency's ratings have been widely accepted by Indian investors, with 80% of its ratings being used by institutional investors. This widespread adoption is a testament to the credibility and trust that ICRA Limited has built over the years.

Forecasting is a crucial step in making informed decisions. It helps businesses anticipate and prepare for potential outcomes.

According to the article, a reliable forecast can reduce the risk of business failure by up to 50%. This is because it allows companies to adjust their strategies and make necessary changes before it's too late.

Inaccurate forecasts, on the other hand, can lead to significant losses, as seen in the example of a company that lost $100,000 due to overestimating demand.

A good forecast should be based on historical data, market trends, and expert opinions. This combination of factors can help businesses make more accurate predictions.

For instance, a company that analyzed its sales data over the past five years was able to predict a 20% increase in sales for the upcoming quarter.

Seasonality analysis can be a powerful tool in making informed investment decisions. Analyzing the performance of ICRA in different months reveals some interesting trends.

October is a particularly interesting month, with ICRA giving negative returns in 12 out of 17 years. This suggests that October might be a good time to exercise caution.

The data shows that the maximum positive change in October was 11.71% in 2013, while the average positive change was 8.36%. On the other hand, the maximum negative change was -8.29% in 2019, with an average negative change of -2.86%.

Knowing this information can help you make a more informed investment decision.

Readers also liked: What Credit Cards Use Fico Bankcard Score 8

ICRA Limited is part of the BSE Financial Services, which is a significant indicator of its credibility and reliability in the financial services sector.

ICRA Limited operates within the BSE Financial Services, a space where it can leverage its expertise and resources to provide high-quality services.

ICRA Limited is also part of the BSE Allcap and BSE SmallCap indices, which suggests its inclusion in a broader range of market categories.

Its inclusion in these indices underscores the company's relevance and importance in the financial services landscape.

ICRA Limited's presence in the Capital Markets segment of the BSE Financial Services suggests its involvement in various financial activities and transactions.

Its ratings and services are likely to be sought after by market participants, including investors, issuers, and other stakeholders.

Readers also liked: Bharat Financial Inclusion