| ₹ crore | Q2 FY27 | Q2 FY26 | Change |
|---|---|---|---|
| Revenue | 164 | 136 | +20.4% |
| EBITDA | 84.6 | 68.4 | +23.7% |
| EBITDA margin | 51.6% | 50.2% | +1.4 pts |
| Profit before tax | 95.6 | 76.9 | +24.3% |
| Net profit | 72.4 | 57.2 | +26.5% |
| EPS | ₹23.88 | ₹18.90 | +26.3% |
Amounts on the left scale in ₹ crore; per cent on the right, dashed. L = lakh crore, K = thousand crore. Touch the chart to read any period.
| Tap a line for its trend | Currentlast 12M | FY26Mar 2026 | FY25Mar 2025 | FY24Mar 2024 | FY23Mar 2023 | FY22 and earlierAlpha Plus |
|---|
| 4,868 | — | — | — | — | FY22 and earlierEvery year the company has filed comes with Alpha Plus. | |
| 222 | 63.1 | 48.8 | 38.3 | 49.4 | ||
| 11.7 | 10.7 | 9.2 | 7.5 | 6.8 | ||
| 0.0 | 0.0 | 0.0 | 19.6 | 0.0 | ||
| 4,658 | — | — | — | — | ||
| 519 | 473 | 402 | 332 | 279 | ||
| — | +17.6% | +21.3% | +18.9% | — | ||
| 220 | 197 | 155 | 112 | 99.3 | ||
| 42.5% | 41.7% | 38.6% | 33.8% | 35.6% | ||
| 205 | 183 | 144 | 102 | 88.8 | ||
| 195 | 174 | 140 | 103 | 85.5 | ||
| 37.7% | 36.7% | 34.8% | 30.9% | 30.6% | ||
| ₹64.18 | ₹56.97 | ₹45.67 | ₹33.46 | ₹27.51 | ||
| — | +24.7% | +36.5% | +21.6% | — | ||
| — | 148 | 123 | 90.9 | 82.2 | ||
| — | −8.3 | −14.7 | −9.2 | −11.5 | ||
| 139 | 139 | 108 | 81.7 | 70.7 | ||
From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.
In ₹ Crore except Per Share 12 Months Ending | FY23 31/03/2023 | FY24 31/03/2024 | FY25 31/03/2025 | FY26 31/03/2026 | Current/LTM TTM · last close | |
|---|---|---|---|---|---|---|
| Market Capitalization | — | — | — | — | 4,868.2 | |
| - Cash, Equiv & ST Investments | 49.4 | 38.3 | 48.8 | 63.1 | 221.7 | |
| + Minority Interest | 6.8 | 7.5 | 9.2 | 10.7 | 11.7 | |
| + Total Debt | 0.0 | 19.6 | 0.0 | 0.0 | 0.0 | |
| Enterprise Value | — | — | — | — | 4,658.3 | |
| Revenue | 279.0 | 331.7 | 402.3 | 473.1 | 518.6 | |
| Growth %, YoY | — | +18.9 | +21.3 | +17.6 | — | |
| EBITDA | 99.3 | 112.1 | 155.3 | 197.4 | 220.3 | |
| Margin % | 35.61 | 33.81 | 38.61 | 41.73 | 42.49 | |
| EBIT | 88.8 | 101.7 | 143.6 | 183.0 | 205.1 | |
| Net Income | 85.5 | 102.6 | 140.0 | 173.7 | 195.3 | |
| Margin % | 30.63 | 30.92 | 34.80 | 36.72 | 37.67 | |
| EPS, Adj (current shares) | 27.51 | 33.46 | 45.67 | 56.97 | 64.18 | |
| Growth %, YoY | — | +21.6 | +36.5 | +24.7 | — | |
| Cash from Operations | 82.2 | 90.9 | 123.0 | 147.7 | — | |
| Capital Expenditures | -11.5 | -9.2 | -14.7 | -8.3 | — | |
| Free Cash Flow | 70.7 | 81.7 | 108.2 | 139.4 | 139.4 | |
Prices at the previous close · figures from the company's filings with NSE
CARE Ratings (NSE: CARERATING) had a market capitalisation of ₹4,880 crore at the previous close (₹1,620.20 a share), a PE ratio of 25.3 on the last four quarters' profit and a price-to-book ratio of 4.87. In FY26 its consolidated net profit attributable to shareholders was ₹171 crore on revenue of ₹473 crore; in Q2 FY27 (July–September 2026) it was ₹71.8 crore, up 26.8% year on year. It had no borrowings on 30 September 2026.
CARE Ratings' PE ratio is 25.3 at the previous close (₹1,620.20 a share): a market capitalisation of ₹4,880 crore divided by consolidated net profit attributable to shareholders of ₹193 crore over the last four quarters (Q3 FY26 to Q2 FY27). On FY26 net profit attributable to shareholders (₹171 crore) it is 28.5.
CARE Ratings' price-to-book (PB) ratio is 4.87 at the previous close: a market capitalisation of ₹4,880 crore divided by shareholders' equity (book value) of ₹1,002 crore on 30 September 2026. That is a book value of ₹332.71 per share against a share price of ₹1,620.20.
CARE Ratings' net worth — shareholders' equity in its consolidated balance sheet — was ₹1,002 crore on 30 September 2026, up 16.2% from ₹862 crore a year earlier. Its market value is a different figure: a market capitalisation of ₹4,880 crore at the previous close.
CARE Ratings' market capitalisation was ₹4,880 crore at the previous close: 3.01 crore shares at ₹1,620.20 each.
Yes. CARE Ratings had no borrowings on 30 September 2026 (consolidated balance sheet), and it held ₹295 crore of cash, bank balances and current investments.
CARE Ratings' basic earnings per share (EPS) were ₹57.06 in FY26, against ₹45.89 in FY25. Over the last four quarters (Q3 FY26 to Q2 FY27) they add up to ₹64.15.
CARE Ratings' debt-to-equity ratio was 0.00 on 30 September 2026: no borrowings against total equity of ₹1,014 crore. A year earlier, on 30 September 2025, it was 0.00.
CARE Ratings' book value per share was ₹332.71 on 30 September 2026: shareholders' equity of ₹1,002 crore divided by the 3.01 crore shares in issue, up 15.7% from ₹287.51 a year earlier. The share price at the previous close was ₹1,620.20.
CARE Ratings has no promoter group: on 30 September 2026 promoters held 0% of its shares, according to the shareholding pattern filed with NSE. Foreign portfolio investors held 23.60% and domestic institutions 32.22%.
In FY26, CARE Ratings' return on equity (ROE) was 19.7% and its return on capital employed (ROCE) was 19.8%. ROE is net profit attributable to shareholders divided by average shareholders' equity (the start and end of the year); ROCE is operating profit (EBIT) divided by average capital employed (total assets less current liabilities). In FY25, ROE was 18.0% and ROCE 17.7%.
On 30 September 2026, CARE Ratings' shares were held by foreign portfolio investors (FII/FPI) 23.60%, domestic institutions (DII) 32.22% (including mutual funds at 18.75%) and retail and other non-institutional investors 44.17%. Over the year, FII holding was down 0.01 percentage points from 23.61% and DII holding was up 0.62 percentage points from 31.60%.
On FY26 consolidated figures, against ICRA: CARE Ratings' operating margin of 38.7% is the higher of the two (ICRA 31.2%; peer average 31.2%); its return on equity of 19.7% is the higher of the two (ICRA 16.3%; peer average 16.3%); its revenue growth over three years of 19.3% a year is the higher of the two (ICRA 14.1% a year; peer average 14.1% a year).
CARE Ratings' dividend yield is 1.36% at the previous close: dividends of ₹22 a share that went ex-dividend in the 12 months before that day, divided by the share price of ₹1,620.20. They were ₹14 on 25 June 2026 and ₹8 on 19 November 2025 (interim).
In 2026, CARE Ratings has declared two dividends totalling ₹24 a share: ₹14 with record date 26 June 2026 and ex-date 25 June 2026 and ₹10 (interim) with record date 6 November 2026.
In FY26, CARE Ratings generated ₹148 crore of cash from operations and spent ₹8.3 crore on capital expenditure (property, plant, equipment and intangibles), leaving free cash flow of ₹139 crore. In FY25 it was ₹108 crore.
CARE Ratings' latest results are for Q2 FY27 (July–September 2026), filed on 29 October 2026: consolidated net profit attributable to shareholders ₹71.8 crore, up 26.8% from ₹56.7 crore in Q2 FY26; revenue from operations ₹164 crore, up 20.4% year on year.
In FY26 (April 2025–March 2026), CARE Ratings' consolidated net profit attributable to shareholders was ₹171 crore, up 24.7% from ₹137 crore in FY25, on revenue from operations of ₹473 crore (up 17.6%). Over three years, from FY23, net profit was up 107.1%.
CARE Ratings has reported Q2 FY27. Its next results, for Q3 FY27 (October–December 2026), are due by 14 February 2027 under SEBI's 45-day rule; the company notifies the board-meeting date at least two working days before.
In FY26, CARE Ratings earned net profit attributable to shareholders of ₹171 crore on revenue of ₹473 crore, against ₹182 crore on ₹600 crore for ICRA. CARE Ratings' operating margin was 38.7% (ICRA 31.2%) and its return on equity 19.7% (ICRA 16.3%).
From CARE Ratings' own consolidated results, balance sheets and shareholding patterns filed with NSE. Ratios are calculated by Alphave from those filings as each answer describes.
Consolidated figures from the company's filings with NSE; prices are NSE closing prices.