ICRA Limited has announced its audited financial results for the fourth quarter and financial year ended March 31, 2026, reporting a consolidated net profit of ₹1,825.32 crore for FY26, a 6.6% rise from ₹1,712.04 crore in the previous fiscal year. Revenue from operations for the year stood at ₹5,995.10 crore, compared to ₹4,980.21 crore in FY25. Following the results announcement, the company uploaded the audio recording and transcript of its earnings conference call held on May 25, 2026, to discuss the Q4 and FY26 performance.

Financial Performance

For the quarter ended March 31, 2026, the company posted a consolidated net profit of ₹526.91 crore, compared to ₹559.90 crore in the corresponding quarter of the previous year. Revenue from operations for the quarter increased to ₹1,748.52 crore from ₹1,362.13 crore in Q4 FY25. Total income for the quarter rose to ₹1,890.33 crore.

The following table summarises key consolidated financial metrics for the full year and the latest quarter:

Segmental Performance

ICRA delivered strong revenue growth across businesses, driven by continued momentum in Ratings and robust growth in Research & Analytics (R&A), led primarily by the Fintellix acquisition. For FY26, the Ratings & ancillary services segment reported revenue of ₹336.5 crore, while the Research & Analytics segment recorded revenue of ₹265.8 crore. Segment results before Labour Codes impact stood at ₹126.4 crore for Ratings and ₹64.5 crore for Research & Analytics.

Management Commentary

During the earnings call, management highlighted that consolidated revenue for Q4 increased by 28.4% year-on-year, led by the Research and Analytics segment which recorded a 56.8% increase. The Ratings business grew by 10.6% year-on-year. For FY26, revenue increased by 20.4% year-on-year, with the Ratings segment growing by 14.2% and Research and Analytics by 29.8%. The company noted that the Knowledge Services business saw moderation in growth due to discontinuation of certain engagements and automation trends, leading to a shift in business mix towards non-KnowTech businesses which have a different margin profile.

Operational Highlights

The company's earnings per share (EPS) on a consolidated basis for FY26 was ₹188.63, up from ₹176.73 in the previous year. For the quarter ended March 31, 2026, the basic EPS was recorded at ₹54.50. The company's total comprehensive income for the year stood at ₹1,824.51 crore.

The board of directors has recommended a final dividend of ₹105 per equity share for the financial year ended March 31, 2026. This includes a special dividend of ₹35 per share to commemorate the company's 35th year of operations. The total dividend payout amounts to ₹101.34 crore, including the special dividend component of ₹33.78 crore. The record date for the dividend payment has been fixed as July 23, 2026.

Corporate Actions

The Thirty-Fifth Annual General Meeting (AGM) of the company is scheduled to be held on July 30, 2026, via Video Conferencing (VC) or Other Audio Visual Means (OAVM). The record date for determining eligibility for the AGM and the dividend payment is July 23, 2026. The dividend will be paid on or before August 21, 2026, subject to approval by shareholders at the AGM.

ICRA Limited has scheduled a one-on-one investor meeting with Systematix Shares and Stocks (India) Ltd on May 27, 2026. The meeting is set to take place in-person in Mumbai. This interaction is part of the company’s ongoing engagement with analysts and institutional investors.

The disclosure was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company clarified that the schedule is subject to change due to exigencies on the part of the company, investor, or analyst.

ICRA Limited emphasized that discussions during the meeting will be based on publicly available documents. The company stated that no unpublished price sensitive information will be shared or discussed during the call or meeting.

Meeting Schedule