CARE Ratings
Net sales (including other operating income) of CARE Ratings has increased 20.36% to Rs 164.13 crore. Operating profit margin has jumped from 50.16% to 51.55%, leading to 23.70% rise in operating profit to Rs 84.61 crore. Employee cost decreased from 39.07% to 37.01%. Other expenses rose from 10.76% to 11.44%.
Other income rose 22.66% to Rs 15.43 crore. PBIDT rose 23.54% to Rs 100.04 crore. Provision for interest fell 4.92% to Rs 0.58 crore. Loan funds declined from Rs 25.42 crore as of 30 September 2025 to Rs 24.12 crore as of 30 September 2026. Sundry debtors were lower at Rs 76.61 crore as of 30 September 2026 compared to Rs 79.74 crore as of 30 September 2025. Cash and bank balance declined from Rs 286.60 crore as of 30 September 2025 to Rs 179.38 crore as of 30 September 2026. Investments rose to Rs 187.69 crore as of 30 September 2026 from Rs 175.24 crore as of 30 September 2025.
PBDT rose 23.75% to Rs 99.46 crore. Provision for depreciation rose 11.56% to Rs 3.86 crore. Fixed assets increased to Rs 115.38 crore as of 30 September 2026 from Rs 103.97 crore as of 30 September 2025. Intangible assets declined from Rs 19.66 crore to Rs 7.95 crore.
Profit before tax grew 24.30% to Rs 95.60 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 23.23 crore, compared to Rs 19.7 crore. Effective tax rate was 24.30% compared to 25.61%.
Minority interest decreased 3.70% to Rs 0.52 crore. Net profit attributable to owners of the company increased 26.79% to Rs 71.85 crore.
Commenting on the results for Q2 and H1FY27, Mehul Pandya, Managing Director & Group CEO of CareEdge, said: The resilience shown by the Indian economy amidst the global headwinds is noteworthy and reflects that the journey towards Viksit Bharat remains on track. At CareEdge, we have sustained the momentum of the preceding quarters to report an all round good performance covering all companies within the Group. For H1FY27, the operating income increased by 17% on a standalone basis, and by 20% on a consolidated basis. The ratings as well as non-ratings businesses reported robust growth of 20% and 18% during the period. Profitability and profit margins continued to remain healthy, with sustained growth at the standalone as well as consolidated basis. We continued our outreach activities with our landmark event, CareEdge Conversations Landscape, Vision for Viksit that was graced by Gautam Adani, Chairman Adani Group as the Chief Guest. CareEdge Global Ratings marked the second anniversary of its operations at GIFT City with an event graced by Shri K. Rajaraman, Chairperson, IFSCA. The event saw participation by policymakers, diplomats, corporates & investors. One of the highlights of the event was the release of a well researched publication, A Case for Reforms: Building Sovereign Resilience in an Evolving world. We remain resolutely on course in our commitment towards Quality led Growth across the Group.?
The Board of Directors have declared an interim dividend of Rs 10 per share (each having a face value of Rs 10 per share) for the second quarter of FY27.
Financial performance H1FY2027
Net sales (including other operating income) of CARE Ratings has increased 19.77% to Rs 275.81 crore. Operating profit margin has jumped from 41.82% to 43.23%, leading to 23.82% rise in operating profit to Rs 119.24 crore. Employee cost decreased from 46.46% to 43.49%. Other expenses rose from 11.72% to 13.28%.
Other income rose 15.74% to Rs 30.23 crore. PBIDT rose 22.10% to Rs 149.47 crore. Provision for interest fell 2.48% to Rs 1.18 crore. Loan funds declined from Rs 25.42 crore as of 30 September 2025 to Rs 24.12 crore as of 30 September 2026. Sundry debtors were lower at Rs 76.61 crore as of 30 September 2026 compared to Rs 79.74 crore as of 30 September 2025. Cash and bank balance declined from Rs 286.60 crore as of 30 September 2025 to Rs 179.38 crore as of 30 September 2026. Investments rose to Rs 187.69 crore as of 30 September 2026 from Rs 175.24 crore as of 30 September 2025.
PBDT rose 22.34% to Rs 148.29 crore. Provision for depreciation rose 12.54% to Rs 7.72 crore. Fixed assets increased to Rs 115.38 crore as of 30 September 2026 from Rs 103.97 crore as of 30 September 2025. Intangible assets declined from Rs 19.66 crore to Rs 7.95 crore.
Profit before tax grew 22.93% to Rs 140.57 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 35.21 crore, compared to Rs 30.64 crore. Effective tax rate was 25.05% compared to 26.79%.
Minority interest decreased 0.79% to Rs 1.25 crore. Net profit attributable to owners of the company increased 26.27% to Rs 104.11 crore.
| Care Ratings: Consolidated Results | |||||||||
| ? | 2609 (3) | 2509 (3) | Var % | 2609 (6) | 2509 (6) | Var % | 2603 (12) | 2503 (12) | Var % |
| Sales | 164.13 | 136.37 | 20 | 275.81 | 230.28 | 20 | 473.07 | 402.32 | 18 |
| OPM % | 51.6 | 50.2 | ? | 43.2 | 41.8 | ? | 41.7 | 38.6 | ? |
| OP | 84.61 | 68.41 | 24 | 119.25 | 96.30 | 24 | 197.40 | 155.34 | 27 |
| Other Income | 15.43 | 12.58 | 23 | 30.23 | 26.12 | 16 | 54.81 | 50.75 | 8 |
| PBDIT | 100.04 | 80.99 | 24 | 149.47 | 122.42 | 22 | 252.21 | 206.10 | 22 |
| Interest | 0.58 | 0.61 | -6 | 1.18 | 1.21 | -3 | 2.49 | 2.11 | 18 |
| PBDT | 99.46 | 80.37 | 24 | 148.29 | 121.21 | 22 | 249.73 | 203.99 | 22 |
| Depreciation | 3.86 | 3.46 | 12 | 7.72 | 6.86 | 13 | 14.37 | 11.72 | 23 |
| PBT | 95.60 | 76.91 | 24 | 140.57 | 114.35 | 23 | 235.35 | 192.27 | 22 |
| EO | 0.00 | 0.00 | - | 0.00 | 0.00 | - | 0.00 | 0.00 | - |
| PBT after EO | 95.60 | 76.91 | 24 | 140.57 | 114.35 | 23 | 235.35 | 192.27 | 22 |
| Tax | 23.23 | 19.70 | 18 | 35.21 | 30.64 | 15 | 61.66 | 52.26 | 18 |
| PAT | 72.37 | 57.21 | 26 | 105.36 | 83.71 | 26 | 173.70 | 140.00 | 24 |
| Minority interest | 0.52 | 0.54 | -4 | 1.25 | 1.26 | -1 | 2.52 | 2.76 | -9 |
| Profit/Loss of Associate Company | 0.00 | 0.00 | - | 0.00 | 0.00 | - | 0.00 | 0.00 | - |
| PAT | 71.85 | 56.67 | 27 | 104.11 | 82.45 | 26 | 171.18 | 137.24 | 25 |
| EPS (Rs)* | 95.4 | 75.3 | ? | 69.1 | 54.7 | ? | 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 | |||||||||
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| Care Ratings: Consolidated Segment Results?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????? | ||||||||||||
| ? | % of total | 2609 (3) | 2509 (3) | Var. (%) | % of total | 2609 (6) | 2509 (6) | Var. (%) | % of total | 2603 (12) | 2503 (12) | Var. (%) |
| Segment Revenue | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? |
| Rating,Research and other Service | 90.2 | 148.55 | 123.01 | 21 | 89.3 | 247.26 | 205.99 | 20 | 89.3 | 423.40 | 360.12 | 18 |
| Consulting Services | 9.8 | 16.08 | 13.53 | 19 | 10.7 | 29.58 | 24.53 | 21 | 10.7 | 50.59 | 42.57 | 19 |
| Total Reported Sales | 100.0 | 164.63 | 136.55 | 21 | 100.0 | 276.84 | 230.52 | 20 | 100.0 | 473.99 | 402.69 | 18 |
| Less: Inter segment revenues | ? | 0.49 | 0.18 | ? | ? | 1.03 | 0.24 | ? | ? | 0.92 | 0.37 | ? |
| Net Sales | 100.00 | 164.13 | 136.37 | 20 | 100.00 | 275.81 | 230.28 | 20 | 100.00 | 473.07 | 402.32 | 18 |
| PBIT | ? | 0.00 | 0.00 | ? | ? | 0.00 | 0.00 | ? | ? | ? | ? | ? |
| Rating,Research and other Service | 99.9 | 94.86 | 75.50 | 26 | 100.0 | 139.98 | 113.17 | 24 | 100.1 | 231.61 | 195.83 | 18 |
| Consulting Services | 0.1 | 0.13 | 0.91 | -85 | 0.0 | -0.02 | -0.55 | -97 | -0.1 | -0.14 | -7.28 | -98 |
| Total PBIT | 100.0 | 95.00 | 76.41 | 24 | 100.0 | 139.97 | 112.62 | 24 | 100.0 | 231.47 | 188.55 | 23 |
| Less : Interest | ? | 0.58 | 0.61 | -6 | ? | 1.18 | 1.21 | -3 | ? | 2.49 | 2.11 | 18 |
| Add: Other un-allcoable | ? | 1.18 | 1.11 | 6 | ? | 1.78 | 2.95 | -40 | ? | 6.37 | 5.83 | 9 |
| Profit Before Tax | ? | 95.60 | 76.91 | 24 | ? | 140.57 | 114.35 | 23 | ? | 235.35 | 192.27 | 22 |
| Figures in Rs crore, PL: Profit to Loss, LP: Loss to Profit??????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????? | ||||||||||||
| Source: Capitaline Corporate Database | ||||||||||||
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