ICRA share price today

ICRA Ltd's share price was ₹4,445.80 at the close on 4 November 2026. It has been falling for 46 weeks. That is 13.7% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹4,301 and ₹6,269, and at that close it sat 7% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today ICRA Ltd is in stage 4. The phase helps read everything below.

Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 46 weeks running.

Over the last 11 years the share price moved +23% while the NIFTY 500 moved +251%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 16 January 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: revenue up on a year earlier for 12 quarters in a row (every quarter we can compare), indian funds and insurers (DIIs) cut their stake for 4 quarters in a row and highest quarterly revenue in 16 quarters.

1. Revenue up on a year earlier for 12 quarters in a row (every quarter we can compare)

   In the September 2026 quarter revenue was ₹178 crore, +29.9% on a year earlier.

2. Indian funds and insurers (DIIs) cut their stake for 4 quarters in a row

   From 26.2% to 20.1% of the company by the September 2026 quarter.

3. Highest quarterly revenue in 16 quarters

   Revenue of ₹178 crore in the September 2026 quarter is the highest of the last 16 quarters.

For July to September 2026 (the quarter ended 30 September 2026), ICRA reported revenue of ₹178 crore, up 29.9% from ₹137 crore a year earlier, and a profit of ₹52.0 crore, up 8.3% from ₹48.0 crore.

ICRA results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

The newest call in our records is from 25 May 2026, about January to March 2026; a call about these results is not in our records yet.

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

ICRA closed at ₹4,445.80 on 4 November 2026, down 29.0% from ₹6,261.50 a year earlier (7 November 2025) and up 26.5% over five years. Its highest weekly close since March 2016 was ₹7,252.85 on 18 October 2024.

ICRA share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

561 weekly closes from 11 March 2016 to 4 November 2026.

4 Nov 2026: ICRA closed at ₹4,445.80, up 3.4% on the week and up 3.0% on the month. Results for July to September 2026: Revenue up 29.9% and profit up 8.3% on a year earlier.

Earlier

• 23 Jul 2026: ex-date for a dividend + special dividend of ₹105 a share.
• 25 May 2026: ICRA held its results call for January to March 2026. Management guided: FY27 Ratings segment growth: bank credit to drive bulk of growth.

ICRA paid ₹70 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 1.57% at the ₹4,445.80 close on 4 November 2026. The last was a dividend + special dividend of ₹105 a share, ex-date 23 July 2026.

ICRA dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here.

Yes. ICRA Ltd paid out 56% of its profit as dividends in FY26, and it paid a dividend in each of its last 13 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for January to March 2026, held on 25 May 2026, ICRA's management guided: FY27 Ratings segment growth: bank credit to drive bulk of growth.

“Our outlook remains anchored in structural drivers, including regulatory intensity and accelerated AI adoption reshaping client expectations”Ramnath Krishnan, on the call for January to March 2026

What management guided

• FY27 GDP growth projection: 6.2% real, approximately 12% nominal (assuming average crude $95 per barrel)
• Fintelex expected to deliver 'reasonable' growth over next 2-3 years to offset KnowTech moderation; magnitude not quantified by management.
• KnowTech moderation to persist: will not achieve 'higher double-digit growth' going forward, reflecting structural headwinds from client discontinuations and parent company automation.
• Ratings margins expansion trajectory tied to double-digit revenue growth generating 'some addition to margins' through operating leverage; product-led offerings carry industry range 20-35% operating profit but management declined segment-specific margin guidance.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for January to March 2026, 25 May 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

When ICRA reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: Ratings April to June 2026 growth rate confirmation: Management stated Apr-May 'no significant slowdown', implying base case growth continuity. First quarterly result will confirm if double-digit narrative lasts or macro headwinds manifest - critical to margin expansion thesis.

ICRA is on 2 of our India lists: 52 week high & low and Dividend stocks.

ICRA Ltd earned ₹52.0 Cr of net profit in the Sep 2026 quarter, +8.3% on the same quarter a year earlier. That is the 2nd quarter in a row of profit growth. Full-year FY26 profit was ₹183 Cr. Over 10 years profit has grown 9.2% a year on average. That is 29.2% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹48.0 Cr.

For the full year, FY26 profit was ₹183 Cr (+7.0% on the year before).

Why profit moved: revenue changed +29.9% on a year earlier and the margin moved +1.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +6.5% and revenue +31.4%. Profit is growing slower than sales: rising costs are taking part of the growth.

ICRA Ltd reported ₹178 Cr of revenue in the Sep 2026 quarter, +29.9% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 10 years it has grown 5.8% a year on average. The last full year, FY26, came in at ₹600 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹680 Cr.

FY26 revenue was ₹600 Cr, +20.5% on the year before.

Recent pace: the last four quarters grew +31.4% on average, against 5.8% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +31.3%, against +19.0% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +5.8%, against +14.7% a year (rolling over).

ICRA Ltd's operating margin was 37.0% in the Sep 2026 quarter, 1.0 percentage points higher than the same quarter a year ago. Across 13 years it has been between 22.0% and 37.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed +1.4 percentage points on the year while gross margin changed +0.0 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales.

Over the last 3 years, 81% of ICRA Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹157 Cr of operating cash against ₹183 Cr of profit. After ₹249 Cr of spending on assets, free cash was −₹92.0 Cr: it spent more than its operations brought in.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 81% of profit came in as cash: the cash cycle stayed about the same between FY21 and FY26, so the cash follows profit, not the cycle.

What to look at next: the bigger use of cash is spending on new assets, at 5.7× depreciation over three years. The next section checks what that spending is building.

ICRA Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 48 days in FY26, down from 58 days in FY21. It spent ₹324 Cr on assets over the last 3 years.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹600 Cr, each day of that cycle ties up about ₹1.6 Cr, so roughly ₹79.0 Cr is tied up in the business at any time.

Spending on assets: ₹324 Cr over the last 3 years, against ₹57.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹2.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

ICRA Ltd's P/E is 21.4×, about the lowest it has ever been. Its usual P/E (the middle reading) is 35.0×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.