ICRA Limited has announced the appointment of Deloitte Haskins & Sells as the new statutory auditor for its subsidiary Fintellix India Private Limited, following the recent resignation of the previous auditing firm and completing the audit transition process.

New Auditor Appointment Details

The Board of Directors of Fintellix India Private Limited has recommended the appointment of Deloitte Haskins & Sells, Chartered Accountants, as statutory auditor to fill the casual vacancy created by the previous auditor's resignation. The recommendation was made on December 17, 2025, and will be presented to the members of Fintellix for approval.

Previous Auditor Transition

This appointment follows the resignation of M/s. Chandran & Raman, Chartered Accountants, who served as statutory auditors of Fintellix India Private Limited until December 12, 2025. The previous auditors had been appointed on November 15, 2024, with their term originally scheduled to expire at the conclusion of the 23rd Annual General Meeting.

About the New Auditor

Deloitte Haskins & Sells is a Chartered Accountants firm with a strong presence in major cities across the country. The firm is engaged in statutory audits of large companies across various sectors, bringing extensive experience and expertise to the role.

Strategic Audit Alignment

The auditor change represents the completion of ICRA's strategic initiative to align audit processes following its acquisition of a majority stake in Fintellix India Private Limited in October 2025. This transition is designed to create operational efficiencies and maintain consistency in audit standards across the corporate structure.

Regulatory Compliance

The appointment disclosure was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. ICRA Limited has notified both BSE Limited and National Stock Exchange of India Limited of this development, with the information also being hosted on the company's website at https://www.icra.in/ .

ICRA Limited , a leading credit rating agency in India, has reported strong financial results for the first half of fiscal year 2026, demonstrating resilience in a challenging credit environment. The company's performance was marked by significant growth in both revenue and profitability, alongside strategic expansion through acquisition.

Financial Highlights

ICRA's consolidated financial performance for H1 FY26 showcased impressive growth:

The ratings segment emerged as a key driver of growth, with a 13.60% increase in revenue, despite the prevailing slowdown in the credit environment.

Strategic Acquisition

In a move to bolster its risk technology portfolio, ICRA successfully acquired Fintellix, a Bangalore-based RegTech and risk solutions company. Key details of the acquisition include:

This strategic acquisition is expected to enhance ICRA's capabilities in the risk technology sector.

Operational Performance

ICRA's operational metrics reflect a strong market position:

The company's ESG division, ICRA ESG, published 7 ratings in H1, surpassing the total from the previous year.

Research and Analytics Segment

The Research and Analytics segment reported a modest growth of 1.80%. Notable developments in this segment include:

• Launch of ECL version 3
• Introduction of InfRE 360
• Release of cloud-based MFI 360 Explorer

These new product launches are aimed at enhancing ICRA's offerings in the research and analytics space.

Market Outlook

Management expressed optimism for the second half of FY26, anticipating strong consumption growth. Factors contributing to this positive outlook include:

• GST rationalization
• Income tax benefits
• Favorable monsoon conditions

These factors are expected to drive growth in Q3 and Q4 of the fiscal year.

ICRA's robust performance in H1 FY26, coupled with its strategic initiatives and positive market outlook, positions the company well for continued growth in the evolving financial services landscape.