WEBSITE BSE:534804 NSE : CARERATING 23 Mar, 16:01
Market Cap ₹1953 Cr.
Stock P/E 22.5
P/B 2.9
Current Price ₹658.7
Book Value ₹ 229.1
Face Value 10
52W High ₹698.5
Dividend Yield 2.58%
52W Low ₹ 403
CARE Ratings Ltd, a credit rating organization, presents diverse rating and grading services in India, Mauritius, and Nepal. The agency presents rating offerings for debt gadgets, inclusive of bonds, debentures, hybrid instruments, preference shares, fixed deposits, commercial papers and short-term debt applications, and certificate of deposits; and financial institution mortgage; financial region rating offerings, which cover banks, non-banking finance agencies, housing finance corporations, financial establishments, and so on.; structured finance ratings; coverage ratings; infrastructure quarter ratings; and public finance rating offerings that cover ratings of state authorities entities and urban infrastructure initiatives, as well as company governance ratings, project finance, and MLD valuation services. It offers corporate advisory, project evaluation and tracking, credit analytics, industry and company research, and due diligence and grading services, in addition to research and analytics to corporates, economic establishments, banks, and institutional traders. It was formerly known as Credit Analysis and Research Ltd and changed its name to CARE Ratings Ltd in June 2017. CARE Ratings Ltd become included in 1993 and is based in Mumbai, India.
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| #(Fig in Cr.) | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 76 | 56 | 80 | 49 | 76 | 56 | 66 | 55 | 85 | 62 |
| Other Income | 8 | 8 | 6 | 7 | 6 | 7 | 7 | 8 | 8 | 12 |
| Total Income | 84 | 64 | 85 | 57 | 82 | 63 | 73 | 62 | 93 | 74 |
| Total Expenditure | 34 | 37 | 49 | 41 | 43 | 41 | 43 | 38 | 43 | 48 |
| Operating Profit | 50 | 26 | 36 | 16 | 39 | 22 | 30 | 24 | 50 | 25 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 48 | 24 | 34 | 14 | 37 | 20 | 27 | 21 | 48 | 23 |
| Provision for Tax | 12 | 5 | 8 | 2 | 10 | 5 | 4 | 7 | 13 | 6 |
| Profit After Tax | 36 | 19 | 26 | 12 | 27 | 15 | 23 | 14 | 35 | 16 |
| Adjustments | -0 | -0 | -0 | -1 | -0 | -0 | -0 | -0 | -1 | -0 |
| Profit After Adjustments | 35 | 19 | 26 | 11 | 27 | 15 | 23 | 14 | 34 | 16 |
| Adjusted Earnings Per Share | 12 | 6.3 | 8.8 | 3.7 | 9 | 4.9 | 7.7 | 4.6 | 11.6 | 5.4 |
| #(Fig in Cr.) | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 180 | 203 | 236 | 261 | 279 | 287 | 333 | 319 | 244 | 248 | 248 | 268 |
| Other Income | 28 | 29 | 36 | 44 | 9 | 34 | 25 | 30 | 31 | 31 | 27 | 35 |
| Total Income | 208 | 232 | 271 | 304 | 288 | 321 | 358 | 349 | 275 | 280 | 275 | 302 |
| Total Expenditure | 56 | 68 | 88 | 101 | 105 | 105 | 122 | 144 | 162 | 153 | 168 | 172 |
| Operating Profit | 152 | 163 | 183 | 203 | 183 | 216 | 236 | 205 | 113 | 127 | 107 | 129 |
| Interest | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 0 |
| Depreciation | 2 | 3 | 3 | 5 | 4 | 3 | 3 | 3 | 8 | 8 | 8 | 10 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 150 | 160 | 181 | 197 | 178 | 212 | 233 | 202 | 104 | 119 | 99 | 119 |
| Provision for Tax | 42 | 47 | 51 | 59 | 59 | 65 | 71 | 64 | 21 | 28 | 22 | 30 |
| Profit After Tax | 108 | 114 | 130 | 138 | 120 | 148 | 162 | 138 | 83 | 91 | 77 | 88 |
| Adjustments | -0 | -0 | -0 | 0 | 0 | 0 | 0 | -1 | -1 | -1 | -2 | -1 |
| Profit After Adjustments | 108 | 114 | 129 | 138 | 120 | 148 | 162 | 137 | 82 | 90 | 75 | 87 |
| Adjusted Earnings Per Share | 0 | 39.8 | 44.6 | 47.5 | 40.7 | 50.1 | 55.1 | 46.7 | 28 | 30.4 | 25.3 | 29.3 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 0% | -8% | -3% | 3% |
| Operating Profit CAGR | -16% | -19% | -13% | -3% |
| PAT CAGR | -15% | -18% | -12% | -3% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 29% | 35% | -12% | -2% |
| ROE Average | 13% | 15% | 20% | 26% |
| ROCE Average | 16% | 19% | 27% | 36% |
| #(Fig in Cr.) | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 377 | 424 | 485 | 359 | 409 | 520 | 597 | 550 | 533 | 589 | 647 |
| Minority's Interest | 1 | 1 | 1 | 0 | 0 | 0 | 2 | 2 | 3 | 4 | 5 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 6 | 201 | 252 | 312 | 371 | 15 | 9 | 13 | 22 | 25 | 21 |
| Total Current Liabilities | 46 | 75 | 87 | 78 | 86 | 475 | 551 | 611 | 541 | 557 | 584 |
| Total Liabilities | 430 | 701 | 825 | 749 | 866 | 1010 | 1159 | 1177 | 1099 | 1175 | 1257 |
| Fixed Assets | 56 | 58 | 59 | 65 | 64 | 61 | 60 | 83 | 93 | 85 | 96 |
| Other Non-Current Assets | 107 | 348 | 447 | 501 | 593 | 83 | 257 | 252 | 229 | 40 | 65 |
| Total Current Assets | 266 | 295 | 319 | 184 | 209 | 866 | 842 | 842 | 777 | 1050 | 1096 |
| Total Assets | 430 | 701 | 825 | 749 | 866 | 1010 | 1159 | 1177 | 1099 | 1175 | 1257 |
| #(Fig in Cr.) | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 18 | 70 | 27 | 25 | 13 | 12 | 13 | 24 | 20 | 7 | 12 |
| Cash Flow from Operating Activities | 98 | 83 | 107 | 107 | 106 | 119 | 134 | 109 | 67 | 86 | 68 |
| Cash Flow from Investing Activities | -7 | -87 | -46 | 157 | -41 | -22 | -25 | 83 | 27 | -38 | -27 |
| Cash Flow from Financing Activities | -40 | -40 | -62 | -276 | -66 | -96 | -99 | -195 | -107 | -43 | -35 |
| Net Cash Inflow / Outflow | 51 | -44 | -1 | -12 | -1 | 1 | 11 | -4 | -13 | 5 | 6 |
| Closing Cash & Cash Equivalent | 70 | 27 | 25 | 13 | 12 | 13 | 24 | 20 | 7 | 12 | 18 |
| # | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0 | 39.78 | 44.62 | 47.53 | 40.68 | 50.13 | 55.13 | 46.66 | 27.96 | 30.38 | 25.33 |
| CEPS(Rs) | 38.45 | 40.95 | 45.72 | 49.28 | 42.1 | 51.27 | 56.17 | 47.99 | 30.97 | 33.52 | 28.51 |
| DPS(Rs) | 10 | 20 | 28 | 79 | 28 | 28 | 55 | 30 | 19.5 | 17 | 17 |
| Book NAV/Share(Rs) | 0 | 148.57 | 166.88 | 121.46 | 138.53 | 176.5 | 199.65 | 179.42 | 173.02 | 191.49 | 215.75 |
| Core EBITDA Margin(%) | 68.73 | 66.3 | 62.7 | 61.24 | 62.24 | 63.39 | 63.35 | 54.76 | 33.38 | 38.55 | 32.15 |
| EBIT Margin(%) | 83.31 | 78.91 | 76.65 | 76.06 | 63.86 | 73.93 | 70.06 | 63.24 | 43.1 | 48 | 40.02 |
| Pre Tax Margin(%) | 83.31 | 78.91 | 76.65 | 75.56 | 63.86 | 73.93 | 70.06 | 63.24 | 42.72 | 47.76 | 39.83 |
| PAT Margin (%) | 59.94 | 55.98 | 55.03 | 52.9 | 42.81 | 51.36 | 48.8 | 43.29 | 34.26 | 36.61 | 31.03 |
| Cash Profit Margin (%) | 61.13 | 57.58 | 56.27 | 54.85 | 44.31 | 52.54 | 49.74 | 44.33 | 37.45 | 39.75 | 34.14 |
| ROA(%) | 25.04 | 20.1 | 16.99 | 17.52 | 14.82 | 15.74 | 14.97 | 11.82 | 7.34 | 8 | 6.32 |
| ROE(%) | 28.54 | 28.37 | 28.55 | 32.96 | 31.49 | 31.85 | 29.3 | 24.73 | 16.08 | 16.94 | 12.76 |
| ROCE(%) | 39.66 | 39.98 | 39.7 | 46.94 | 46.48 | 45.76 | 41.74 | 35.18 | 19.39 | 21.26 | 16.03 |
| Receivable days | 32.46 | 34.35 | 28.7 | 21.39 | 25.71 | 31.06 | 35.4 | 49.49 | 66.03 | 45.73 | 28 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PER(x) | 0 | 20.13 | 17.37 | 31.07 | 22.92 | 33.06 | 21.96 | 21.18 | 11.79 | 13.53 | 20.21 |
| Price/Book(x) | 0 | 5.39 | 4.65 | 12.16 | 6.73 | 9.39 | 6.06 | 5.51 | 1.9 | 2.15 | 2.37 |
| Dividend Yield(%) | 0 | 2.5 | 3.61 | 5.35 | 3 | 1.69 | 4.54 | 3.04 | 5.92 | 4.13 | 3.32 |
| EV/Net Sales(x) | -0.23 | 11.12 | 9.42 | 16.38 | 9.77 | 16.93 | 10.63 | 9.03 | 3.51 | 3.71 | 5.8 |
| EV/Core EBITDA(x) | -0.27 | 13.81 | 12.09 | 21 | 14.94 | 22.54 | 14.98 | 14.05 | 7.59 | 7.25 | 13.45 |
| Net Sales Growth(%) | 0 | 13.06 | 16.04 | 10.6 | 7.22 | 2.89 | 15.74 | -4.12 | -23.62 | 1.97 | -0.33 |
| EBIT Growth(%) | 0 | 7.1 | 12.7 | 9.74 | -9.98 | 19.11 | 9.69 | -13.45 | -47.94 | 13.56 | -16.91 |
| PAT Growth(%) | 0 | 5.6 | 14.06 | 6.3 | -13.22 | 23.42 | 9.97 | -14.95 | -39.54 | 8.97 | -15.54 |
| EPS Growth(%) | 0 | 0 | 12.18 | 6.5 | -14.41 | 23.24 | 9.97 | -15.36 | -40.08 | 8.67 | -16.62 |
| Debt/Equity(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Current Ratio(x) | 5.73 | 3.93 | 3.67 | 2.34 | 2.43 | 1.82 | 1.53 | 1.38 | 1.44 | 1.88 | 1.88 |
| Quick Ratio(x) | 5.73 | 3.93 | 3.67 | 2.34 | 2.43 | 1.82 | 1.53 | 1.38 | 1.44 | 1.88 | 1.88 |
| Interest Cover(x) | 0 | 0 | 0 | 152.53 | 0 | 0 | 0 | 0 | 113.23 | 193.14 | 213.66 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| # | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| FII | 27.65 | 26.3 | 22.69 | 23.52 | 21.13 | 23.18 | 25.74 | 17.47 | 18.13 | 17.99 |
| DII | 27.61 | 21.69 | 20.4 | 18.48 | 17.89 | 16.1 | 14.52 | 21.53 | 24.88 | 25.06 |
| Public | 44.74 | 52.01 | 56.91 | 58.01 | 60.98 | 60.72 | 59.74 | 61 | 56.99 | 56.94 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| FII | 0.81 | 0.77 | 0.67 | 0.69 | 0.62 | 0.69 | 0.76 | 0.52 | 0.54 | 0.53 |
| DII | 0.81 | 0.64 | 0.6 | 0.54 | 0.53 | 0.48 | 0.43 | 0.64 | 0.74 | 0.74 |
| Public | 1.32 | 1.53 | 1.68 | 1.71 | 1.8 | 1.8 | 1.77 | 1.81 | 1.69 | 1.69 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 2.95 | 2.95 | 2.95 | 2.95 | 2.95 | 2.96 | 2.96 | 2.96 | 2.96 | 2.96 |
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