ICRA enterprise value

Share price at each year-end

Tap a line for its trend	Currentlast 12M	FY26Mar 2026	FY25Mar 2025	FY24Mar 2024	FY23Mar 2023	FY22 and earlierAlpha Plus


4,283	—	—	—	—	FY22 and earlierEvery year the company has filed comes with Alpha Plus.
799	757	807	434	276
5.0	4.4	4.4	4.5	4.6
0.6	0.6	1.2	1.8	0.0
3,490	—	—	—	—
−798	−756	−805	−432	−276
₹3,615.90	—	—	—	—

1,196	1,186	1,059	983	955
0.1%	0.1%	0.1%	0.2%	0.0%
0.00×	—	—	—	—

5.13×	—	—	—	—
14.09×	—	—	—	—
16.91×	—	—	—	—
24.11×	—	—	—	—
680	600	498	446	403
248	215	178	149	143
206	187	161	135	133
—	157	145	107	99.3
145	145	132	100	90.2
—	144	132	100	89.8
—	12.5	12.4	6.9	9.1

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From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.

alphave

ICRA₹4,437.60

ICRA Limited

· Banking & Finance

₹ CrorePeersCARERATINGMcap ₹4,283 Cr

HighlightsEnterprise Value Multiples Per ShareAnnuals · FY-end closes

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	—	—	—	—	4,282.8
- Cash, Equiv & ST Investments	275.5	433.7	806.6	756.7	798.6
+ Minority Interest	4.6	4.5	4.4	4.4	5.0
+ Total Debt	0.0	1.8	1.2	0.6	0.6
Enterprise Value	—	—	—	—	3,489.8
Net Debt (memo)	-275.5	-431.9	-805.5	-756.1	-798.0
EV per Share	—	—	—	—	3,615.90

Total Capital	954.9	982.8	1,058.8	1,185.8	1,195.9
Total Debt/Total Capital	0.00	0.18	0.11	0.05	0.05
Total Debt/EV	—	—	—	—	0.00

EV/Sales	—	—	—	—	5.13
EV/EBITDA	—	—	—	—	14.09
EV/EBIT	—	—	—	—	16.91
EV/Free Cash Flow	—	—	—	—	24.11
Reference Items — Trailing FY Values
Sales	403.2	446.1	498.0	599.5	679.7
EBITDA	142.9	148.8	177.8	215.0	247.6
EBIT	133.1	135.3	161.4	186.8	206.3
Operating Cash Flow	99.3	107.0	144.9	157.3	—
Free Cash Flow	90.2	100.1	132.5	144.8	144.8
FCFF (free cash flow to the firm)	89.8	100.0	132.4	144.3	—
Capital Expenditure	9.1	6.9	12.4	12.5	—

Market Cap/EV/multiples pair each (split/bonus-adjusted) FY-end close with the latest filed share count; Current column uses the last close. Market Capitalization is a market-level figure — identical across Consolidated/Standalone (the accounting rows below differ). No consensus estimates → no Est columns. Click any row to chart it.

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Data & compliance. Descriptive financial information from official NSE/BSE filings — for information and education only, not investment advice, a recommendation, or a valuation. Standalone = parent entity; consolidated includes subsidiaries. Historical multiples pair each fiscal year's filed figures with that FY-end market close; the Current column uses the last close with the latest filed annuals. Figures are cross-verified via accounting identities and NSE×BSE agreement — XBRL cross-verified ✓ 95%.