CARE Ratings
Net sales (including other operating income) of CARE Ratings has increased 18.92% to Rs 111.68 crore in Q1FY2027. Operating profit margin has jumped from 29.54% to 31.01%, leading to 24.84% rise in operating profit to Rs 34.63 crore. Employee cost decreased from 57.18% to 53.01%. Other expenses rose from 13.27% to 15.98%.
Other income rose 8.03% to Rs 14.8 crore. PBIDT rose 19.28% to Rs 49.43 crore. PBDT rose 19.56% to Rs 48.83 crore. Provision for depreciation rose 13.53% to Rs 3.86 crore.
Profit before tax grew 20.11% to Rs 44.97 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 11.98 crore, compared to Rs 10.94 crore. Effective tax rate was 26.64% compared to 29.22%.
Minority interest increased 1.39% to Rs 0.73 crore. Net profit attributable to owners of the company increased 25.14% to Rs 32.26 crore in Q1FY2027.
Commenting on the results for Q1FY27, Mehul Pandya, Managing Director & Group CEO of CareEdge, said: ?FY27 commenced on a positive note for CareEdge Group despite the challenging macroeconomic and geopolitical environment. On a standalone basis, revenue from operations for Q1 FY27 registered a robust 16.5% year-on-year growth, while at the consolidated level, revenue grew by 18.9% over the same period supported by improved performance by subsidiaries. The profitability at standalone and consolidated levels also reflected healthy growth.
This performance has been primarily driven by a healthy uptick in ratings business across the segments. Our non-ratings businesses continued their momentum of providing a good contribution in the consolidated performance. While we are encouraged by the robust performance in Q1 FY27, we reiterate that the Company?s financial performance should be evaluated on an annual basis, rather than on a QoQ or sequential basis?
Financial Performance FY2026
Net sales (including other operating income) of CARE Ratings has increased 17.59% to Rs 473.07 crore. Operating profit margin has jumped from 38.61% to 41.73%, leading to 27.08% rise in operating profit to Rs 197.41 crore. Employee cost decreased from 46.96% to 45.38%. Other expenses fell from 14.43% to 12.90%.
Other income rose 8% to Rs 54.81 crore. PBIDT rose 22.38% to Rs 252.22 crore. Provision for interest rose 18.01% to Rs 2.49 crore. Loan funds rose to Rs 26.18 crore as of 31 March 2026 from Rs 23.77 crore as of 31 March 2025. Sundry debtors were higher at Rs 35.04 crore as of 31 March 2026 compared to Rs 32.09 crore as of 31 March 2025. Cash and bank balance rose to Rs 129.02 crore as of 31 March 2026 from Rs 97.00 crore as of 31 March 2025. Investments declined from Rs 134.07 crore as of 31 March 2025 to Rs 86.88 crore as of 31 March 2026.
PBDT rose 22.43% to Rs 249.73 crore. Provision for depreciation rose 22.61% to Rs 14.37 crore. Fixed assets increased to Rs 119.77 crore as of 31 March 2026 from Rs 114.19 crore as of 31 March 2025. Intangible assets stood at Rs 7.95 crore.
Profit before tax grew 22.42% to Rs 235.36 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 61.66 crore, compared to Rs 52.26 crore. Effective tax rate was 26.20% compared to 27.18%.
Minority interest decreased 8.70% to Rs 2.52 crore. Net profit attributable to owners of the company increased 24.73% to Rs 171.18 crore.
Equity capital increased from Rs 29.93 crore as of 31 March 2025 to Rs 30.05 crore as of 31 March 2026. Per share face Value remained same at Rs 10.00.
Cash flow from operating activities increased to Rs 147.57 crore for year ended March 2026 from Rs 122.95 crore for year ended March 2025. Cash flow used in acquiring fixed assets during the year ended March 2026 stood at Rs 8.30 crore, compared to Rs 14.74 crore during the year ended March 2025.
| Care Ratings: Consolidated Results | ||||||
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| 2606 (3) | 2506 (3) | Var % | 2603 (12) | 2503 (12) | Var % |
| Sales | 111.68 | 93.91 | 19 | 473.07 | 402.32 | 18 |
| OPM % | 31.0 | 29.5 | 41.7 | 38.6 | ||
| OP | 34.63 | 27.74 | 25 | 197.40 | 155.34 | 27 |
| Other Income | 14.80 | 13.70 | 8 | 54.81 | 50.75 | 8 |
| PBDIT | 49.43 | 41.43 | 19 | 252.21 | 206.10 | 22 |
| Interest | 0.60 | 0.60 | 0 | 2.49 | 2.11 | 18 |
| PBDT | 48.83 | 40.84 | 20 | 249.73 | 203.99 | 22 |
| Depreciation | 3.86 | 3.40 | 14 | 14.37 | 11.72 | 23 |
| PBT | 44.97 | 37.44 | 20 | 235.35 | 192.27 | 22 |
| EO | 0.00 | 0.00 | - | 0.00 | 0.00 | - |
| PBT after EO | 44.97 | 37.44 | 20 | 235.35 | 192.27 | 22 |
| Tax | 11.98 | 10.94 | 9 | 61.66 | 52.26 | 18 |
| PAT | 32.99 | 26.50 | 25 | 173.70 | 140.00 | 24 |
| Minority interest | 0.73 | 0.72 | 2 | 2.52 | 2.76 | -9 |
| Profit/Loss of Associate Company | 0.00 | 0.00 | - | 0.00 | 0.00 | - |
| PAT | 32.26 | 25.78 | 25 | 171.18 | 137.24 | 25 |
| EPS (Rs)* | 42.9 | 34.3 | 57.0 | 45.7 | ||
| *EPS is annualized on latest equity of Rs 30.0604 crore, face value of Rs 10 each, Source: Capitaline Corporate Database | ||||||
| Care Ratings: Consolidated Segment Results | ||||||||
| % of total | 2606 (3) | 2506 (3) | Var. (%) | % of total | 2603 (12) | 2503 (12) | Var. (%) | |
| Segment Revenue |
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| Rating,Research and other Service | 88.0 | 98.71 | 82.98 | 19 | 89.3 | 423.40 | 360.12 | 18 |
| Consulting Services | 12.0 | 13.51 | 10.99 | 23 | 10.7 | 50.59 | 42.57 | 19 |
| Total Reported Sales | 100.0 | 112.22 | 93.97 | 19 | 100.0 | 473.99 | 402.69 | 18 |
| Less: Inter segment revenues | 0.54 | 0.07 | 0.92 | 0.37 | ||||
| Net Sales | 100.00 | 111.68 | 93.91 | 19 | 100.00 | 473.07 | 402.32 | 18 |
| PBIT | 0.00 | 0.00 | ||||||
| Rating,Research and other Service | 100.3 | 45.12 | 37.67 | 20 | 100.1 | 231.61 | 195.83 | 18 |
| Consulting Services | -0.3 | -0.14 | -1.46 | -90 | -0.1 | -0.14 | -7.28 | -98 |
| Total PBIT | 100.0 | 44.98 | 36.21 | 24 | 100.0 | 231.47 | 188.55 | 23 |
| Less : Interest | 0.60 | 0.60 | 0 | 2.49 | 2.11 | 18 | ||
| Add: Other un-allcoable | 0.60 | 1.83 | -68 | 6.37 | 5.83 | 9 | ||
| Profit Before Tax | 44.97 | 37.44 | 20 | 235.35 | 192.27 | 22 | ||
| Figures in Rs crore, PL: Profit to Loss, LP: Loss to Profit | ||||||||
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