CARERATING

CARE Ratings is one of India’s leading credit rating agencies, providing credit ratings, risk assessment, research, and analytics services to corporates, banks, NBFCs, and government entities. The company benefits from rising bond issuances, expanding credit markets, infrastructure financing, and increasing regulatory requirements for independent credit assessments. FY25 revenue was approximately ₹380–420 crore, with PAT of around ₹140–170 crore, supported by high operating margins, strong cash generation, and a debt-free balance sheet. The business enjoys an asset-light model with attractive return ratios. Latest News: CARE Ratings has been strengthening its non-rating businesses, including risk solutions, ESG assessments, and analytics services, reducing dependence on traditional rating income. The company is also benefiting from growth in corporate debt markets, securitization activity, and infrastructure financing. With increasing financialization of the Indian economy, strong brand credibility, healthy dividend payouts, and expanding analytics offerings, CARE Ratings is well-positioned for sustainable long-term growth, though credit market activity and competitive pressures remain key factors to monitor.