“They are not just a company; they are a vital resource for anyone navigating the complex terrain of finance, and they stand ready to empower your financial journey.”
In a financial landscape marked by a market slowdown and economic uncertainties, the importance of a company like ICRA, specializing in investment information and credit rating, cannot be overstated. In this article, we delve into the significance of ICRA’s role in guiding investors through these challenging times and explore the potential price target for this cornerstone of financial insight.
As of 18th September, ICRA is trading at Rs. 5662 with a marketcap of Rs. 5450 Crore.
About ICRA Ltd.
ICRA Limited, formerly known as the Investment Information and Credit Rating Agency of India Limited, is a powerhouse in the world of financial information and credit rating. Established in 1991 through a collaboration of leading financial and investment institutions, commercial banks, and financial services companies.
Today, ICRA stands tall as a publicly listed company on both the Bombay Stock Exchange and the National Stock Exchange, embodying a legacy of trust and expertise in the financial sector. But what sets ICRA apart is its strategic alliance with the global giant, Moody’s Investors Service. As of june 2023, Moody’s Corporation holds ~52% stake in the company
ICRA’s influence extends beyond India’s borders. Through subsidiaries like ICRA Lanka and ICRA Nepal, they have expanded their credit rating services into neighboring countries, strengthening their regional presence.
In 2007, ICRA underwent a transformation, changing its name to ICRA Limited and going public.
Recent News
- Effective from September 2023, Mr. Jayanta Chatterjee has been appointed as the Managing Director & CEO of ICRA Analytics Limited, a significant subsidiary of ICRA Limited.
Q1 Fy2024 Key Points And Summary:
- There has been a significant increase in revenue, rising from $92.5 million in Q1 FY2023 to $102.7 million in Q1 FY2024
- The Profit after Tax for Q1 FY2024 demonstrates a substantial increase compared to the same period in the previous year, with profits rising from INR 21.6 crores in Q1 FY2023 to INR 40.6 crores in Q1 FY2024.
- Certainly, here’s a simpler rephrasing:
- In the CRA Ratings segment, margins are boosted by 2.3% due to segmental allocations, whereas in the ICRA Analytics segment, there is a negative impact of 3.2% on margins.
Recommended by Financesrule
| When | Maximum Price | Minimum Price |
| September 2023 | ₹6,316.89 | ₹5,415.35 |
| October 2023 | ₹6,487.14 | ₹5,897.40 |
| November 2023 | ₹6,359.94 | ₹5,781.77 |
| December 2023 | ₹6,569.82 | ₹5,972.57 |
In September 2023, the share price of ICRA company reached its maximum anticipated price at ₹6,316.89, while in August 2023, it hit its lowest point at ₹5,481.46.
In October, 2023, ICRA share price is expected to trade in between ₹6,316.89 and ₹5,415.35.
Maximum ICRA is expected to reach in 2023 is ₹6,569.82 (by December 2023).
| When | Maximum Price | Minimum Price |
| January 2024 | ₹6,703.90 | ₹5,829.48 |
| February 2024 | ₹6,840.72 | ₹5,948.45 |
| March 2024 | ₹6,980.32 | ₹6,069.85 |
| April 2024 | ₹6,777.01 | ₹5,893.05 |
| May 2024 | ₹6,676.86 | ₹5,805.96 |
| June 2024 | ₹6,917.23 | ₹6,014.98 |
| July 2024 | ₹6,848.05 | ₹5,954.83 |
| August 2024 | ₹7,121.98 | ₹6,193.02 |
| September 2024 | ₹7,406.85 | ₹6,440.74 |
| October 2024 | ₹7,261.62 | ₹6,314.45 |
| November 2024 | ₹7,479.47 | ₹6,503.89 |
| December 2024 | ₹7,666.46 | ₹6,666.48 |
In 2024, the share price of ICRA company exhibited a range of fluctuations. The highest price during the year was recorded in December at ₹7,666.46, while the lowest point was in January at ₹5,829.48.
| when | Maximum Price | Minimum Price |
| January 2025 | ₹7,819.79 | ₹6,015.22 |
| February 2025 | ₹8,020.29 | ₹6,169.46 |
| March 2025 | ₹8,333.09 | ₹6,410.07 |
| April 2025 | ₹8,169.69 | ₹6,284.38 |
| May 2025 | ₹7,931.74 | ₹6,101.34 |
| June 2025 | ₹8,288.67 | ₹6,375.90 |
| July 2025 | ₹8,126.14 | ₹6,250.88 |
| August 2025 | ₹8,377.47 | ₹6,444.21 |
| September 2025 | ₹8,670.68 | ₹6,669.75 |
| October 2025 | ₹8,896.12 | ₹6,843.17 |
| November 2025 | ₹9,118.52 | ₹7,014.25 |
| December 2025 | ₹9,346.48 | ₹7,189.60 |
In 2025, the share price of ICRA company continued to exhibit significant fluctuations. The highest price during the year was recorded in December at ₹9,346.48, showcasing a steady upward trend. Conversely, the lowest point was observed in January at ₹6,015.22, indicating a substantial increase from the previous year’s low.
This upward trajectory suggests strong investor confidence and potential opportunities for those engaging with ICRA’s shares.
| Year | Maximum Price | Minimum Price |
| 2026 | ₹9,813.81 | ₹6,869.67 |
| 2027 | ₹10,795.19 | ₹7,556.63 |
| 2028 | ₹15,113.26 | ₹7,556.63 |
| 2029 | ₹13,085.08 | ₹6,542.54 |
| 2030 | ₹17,010.60 | ₹11,907.42 |
In recent years, ICRA’s share prices have seen significant fluctuations and impressive growth. In 2023, the year began at ₹6,569.82, with no available minimum data. Subsequently, prices displayed volatility in 2024, ranging from ₹7,666.46 in December to ₹5,829.48 in January. The upward trajectory continued into 2025, with a high of ₹9,346.48 in December and a low of ₹6,284.38 in January.
These highlights underscore the dynamic nature of the market and the notable growth in ICRA’s share prices over this period, offering potential opportunities for investors.
ICRA Ltd. Financial Condition (Last 5 Years)
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
| Sales + (Crore Rs) |
328 | 321 | 301 | 343 | 403 |
| Expenses + (Crore Rs) |
215 | 225 | 220 | 222 | 260 |
| Operating Profit (Crore Rs) | 113 | 96 | 81 | 121 | 143 |
| OPM % | 34% | 30% | 27% | 35% | 35% |
| Other Income + (Crore Rs) | 45 | 48 | 43 | 41 | 50 |
| Interest (Crore Rs) |
0 | 2 | 2 | 2 | 1 |
| Depreciation (Crore Rs) |
6 | 10 | 10 | 8 | 10 |
| Profit before tax (Crore Rs) | 152 | 131 | 112 | 152 | 181 |
| Tax % | 30% | 26% | 26% | 25% | 25% |
| Net Profit + (Crore Rs) |
106 | 97 | 83 | 114 | 137 |
| EPS in Rs | 109.21 | 99.66 | 84.61 | 116.35 | 140.13 |
| Dividend Payout % | 27% | 27% | 32% | 24% | 93% |
- Sales Growth: ICRA’s sales have seen steady growth over the years, increasing from 328 in March 2019 to 403 in March 2023. This indicates a positive trend in revenue generation.
- Expenses: Operating expenses have also been on the rise, from 215 in March 2019 to 260 in March 2023. This suggests increasing operational costs.
- Operating Profit and Margin: Despite rising expenses, the operating profit has generally increased from 113 in March 2019 to 143 in March 2023. The operating profit margin (OPM %) has remained relatively stable, hovering around 30-35%, indicating that ICRA has been able to maintain healthy profitability in relation to its sales.
- Profit Before Tax: The profit before tax has generally followed an upward trajectory, growing from 152 in March 2019 to 181 in March 2023. This demonstrates ICRA’s ability to generate increased profits over time.
- Tax Percentage: The effective tax rate has remained relatively stable, fluctuating between 24% and 30%, indicating consistent tax management.
- Net Profit: Net profit has seen consistent growth, increasing from 106 in March 2019 to 137 in March 2023. This reflects ICRA’s ability to maintain profitability after all expenses.
This data paints a picture of a financially sound and steadily growing company in the financial services sector.
FAQS
The share price of ICRA ltd. as on 29 Aug Rs. 5989.
In December 2025, the stock are expected to reach ₹9,346.48, showcasing a positive trend.
Predicting whether ICRA can reach a specific share price like ₹5,000 is challenging and depends on numerous factors, including the company’s financial performance, market conditions, and investor sentiment. However, going by our predictions, it looks achievable.
Should One Invest In ICRA Ltd?
Investing in ICRA is a decision that should be made with careful consideration of various factors.
- ICRA has demonstrated consistent revenue growth over the years, with sales increasing from ₹328 crores in March 2019 to ₹403 crores in March 2023.
- The company has effectively managed its operating expenses, maintaining a stable operating profit margin (OPM) between 27% and 35%.
- ICRA’s profitability, as indicated by net profit and earnings per share (EPS), has shown a positive trend, with net profit growing from ₹106 crores in March 2019 to ₹137 crores in March 2023, and EPS rising from ₹109.21 to ₹140.13 during the same period.
- The company has maintained a healthy return on capital employed (ROCE) at 20.0% and a respectable return on equity (ROE) at 15.1%.
- ICRA’s price-to-earnings (P/E) ratio is 37.4, suggesting that investors are willing to pay a premium for the company’s earnings.
- The dividend yield is modest at 0.67%, indicating a moderate dividend payment to shareholders.
The current market is undergoing a slowdown, impacting both the broader economy and investor sentiment. External factors, including global economic uncertainties and geopolitical tensions, are contributing to a prevailing cautious sentiment within the investment landscape.
For investors with a long-term perspective, ICRA’s financial stability and growth potential can be highly appealing. However, it’s crucial to conduct a thorough assessment of risk tolerance, especially in the face of potentially increased market volatility. Additionally, staying well-informed about evolving market conditions and seeking professional advice are essential steps in making informed and prudent investment decisions. These considerations collectively contribute to a thoughtful and strategic approach when contemplating an investment in ICRA.
What did we learn?
