ICRA Limited
ICRA Limited operates as an independent and professional investment information, and credit rating agency in India and internationally. The company operates through Ratings and Ancillary Services; and Research and Analytics segments. It offers research, and industry and economic research; data management and analytics, cash flow waterfall modelling, model validation and testing, credit risk analy… Read more
ICRA Limited (ICRA) - Net Assets
Latest net assets as of September 2025: ₹10.92 Billion INR
Based on the latest financial reports, ICRA Limited (ICRA) has net assets worth ₹10.92 Billion INR as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₹13.64 Billion) and total liabilities (₹2.72 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₹10.92 Billion |
| % of Total Assets | 80.06% |
| Annual Growth Rate | 12.74% |
| 5-Year Change | 38.98% |
| 10-Year Change | 121.71% |
| Growth Volatility | 11.31 |
ICRA Limited - Net Assets Trend (2002–2025)
This chart illustrates how ICRA Limited's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for ICRA Limited (2002–2025)
The table below shows the annual net assets of ICRA Limited from 2002 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | ₹10.58 Billion | +7.82% |
| 2024-03-31 | ₹9.81 Billion | +2.73% |
| 2023-03-31 | ₹9.55 Billion | +12.65% |
| 2022-03-31 | ₹8.48 Billion | +11.39% |
| 2021-03-31 | ₹7.61 Billion | +8.07% |
| 2020-03-31 | ₹7.04 Billion | +10.09% |
| 2019-03-31 | ₹6.40 Billion | -2.55% |
| 2018-03-31 | ₹6.56 Billion | +31.28% |
| 2017-03-31 | ₹5.00 Billion | +4.81% |
| 2016-03-31 | ₹4.77 Billion | +11.10% |
| 2015-03-31 | ₹4.29 Billion | +10.55% |
| 2014-03-31 | ₹3.88 Billion | +12.99% |
| 2013-03-31 | ₹3.44 Billion | +14.01% |
| 2012-03-31 | ₹3.02 Billion | +17.29% |
| 2011-03-31 | ₹2.57 Billion | +15.94% |
| 2010-03-31 | ₹2.22 Billion | +17.50% |
| 2009-03-31 | ₹1.89 Billion | +15.17% |
| 2008-03-31 | ₹1.64 Billion | +11.17% |
| 2007-03-31 | ₹1.47 Billion | +57.42% |
| 2006-03-31 | ₹936.29 Million | +11.74% |
| 2005-03-31 | ₹837.92 Million | +5.78% |
| 2004-03-31 | ₹792.11 Million | +8.33% |
| 2003-03-31 | ₹731.19 Million | +8.95% |
| 2002-03-31 | ₹671.13 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to ICRA Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 928578200000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₹9.29 Billion | 88.16% |
| Common Stock | ₹96.51 Million | 0.92% |
| Other Comprehensive Income | ₹1.16 Billion | 11.01% |
| Total Equity | ₹10.53 Billion | 100.00% |
ICRA Limited Competitors by Market Cap
The table below lists competitors of ICRA Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Australian Ethical Investment Ltd
AU:AEF
|
$241.24 Million |
|
AP Biosciences Inc
TWO:6945
|
$241.37 Million |
|
Sichuan Dawn Precision Technology Co Ltd
SHE:300780
|
$241.46 Million |
|
Baskent Dogalgaz Dagitim Gayrimenkul Yatirim Ortakligi AS
IS:BASGZ
|
$241.48 Million |
|
AUSTRALIAN ETHICAL INV.
F:1OP
|
$241.19 Million |
|
Huarong Chemical Co. Ltd.
SHE:301256
|
$241.08 Million |
|
Voyager Acquisition Corp
NASDAQ:VACH
|
$241.06 Million |
|
Isras Investment Company Ltd
PINK:IRICF
|
$240.96 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in ICRA Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 9,764,891,000 to 10,532,292,000, a change of 767,401,000 (7.9%).
- Net income of 1,700,093,000 contributed positively to equity growth.
- Dividend payments of 974,588,000 reduced retained earnings.
- Other comprehensive income increased equity by 29,230,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₹1.70 Billion | +16.14% |
| Dividends Paid | ₹974.59 Million | -9.25% |
| Other Comprehensive Income | ₹29.23 Million | +0.28% |
| Other Changes | ₹12.67 Million | +0.12% |
| Total Change | ₹- | 7.86% |
Book Value vs Market Value Analysis
This analysis compares ICRA Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 4.77x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 54.75x to 4.77x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2005-03-31 | ₹95.16 | ₹5210.00 | x |
| 2006-03-31 | ₹106.33 | ₹5210.00 | x |
| 2007-03-31 | ₹147.39 | ₹5210.00 | x |
| 2008-03-31 | ₹163.86 | ₹5210.00 | x |
| 2009-03-31 | ₹188.71 | ₹5210.00 | x |
| 2010-03-31 | ₹221.72 | ₹5210.00 | x |
| 2011-03-31 | ₹257.05 | ₹5210.00 | x |
| 2012-03-31 | ₹301.61 | ₹5210.00 | x |
| 2013-03-31 | ₹339.24 | ₹5210.00 | x |
| 2014-03-31 | ₹387.94 | ₹5210.00 | x |
| 2015-03-31 | ₹434.47 | ₹5210.00 | x |
| 2016-03-31 | ₹482.30 | ₹5210.00 | x |
| 2017-03-31 | ₹505.31 | ₹5210.00 | x |
| 2018-03-31 | ₹665.14 | ₹5210.00 | x |
| 2019-03-31 | ₹653.50 | ₹5210.00 | x |
| 2020-03-31 | ₹729.38 | ₹5210.00 | x |
| 2021-03-31 | ₹787.72 | ₹5210.00 | x |
| 2022-03-31 | ₹877.00 | ₹5210.00 | x |
| 2023-03-31 | ₹987.89 | ₹5210.00 | x |
| 2024-03-31 | ₹1014.59 | ₹5210.00 | x |
| 2025-03-31 | ₹1093.25 | ₹5210.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently ICRA Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 16.14%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 34.21%
- • Asset Turnover: 0.38x
- • Equity Multiplier: 1.23x
- Recent ROE (16.14%) is above the historical average (15.73%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 13.35% | 32.38% | 0.36x | 1.14x | ₹22.50 Million |
| 2003 | 13.27% | 31.52% | 0.36x | 1.16x | ₹23.93 Million |
| 2004 | 13.96% | 33.64% | 0.35x | 1.20x | ₹31.37 Million |
| 2005 | 9.66% | 21.79% | 0.38x | 1.17x | ₹-2.84 Million |
| 2006 | 15.20% | 42.84% | 0.29x | 1.20x | ₹48.67 Million |
| 2007 | 13.56% | 28.33% | 0.02x | 20.31x | ₹52.54 Million |
| 2008 | 17.38% | 28.63% | 0.46x | 1.32x | ₹120.91 Million |
| 2009 | 20.61% | 28.63% | 0.50x | 1.45x | ₹200.20 Million |
| 2010 | 24.12% | 32.94% | 0.50x | 1.46x | ₹313.04 Million |
| 2011 | 18.71% | 24.91% | 0.58x | 1.30x | ₹223.77 Million |
| 2012 | 17.91% | 26.03% | 0.54x | 1.27x | ₹238.48 Million |
| 2013 | 17.44% | 23.53% | 0.57x | 1.30x | ₹252.32 Million |
| 2014 | 17.77% | 24.43% | 0.55x | 1.33x | ₹301.37 Million |
| 2015 | 15.26% | 20.40% | 0.55x | 1.36x | ₹225.71 Million |
| 2016 | 16.01% | 22.44% | 0.54x | 1.32x | ₹286.20 Million |
| 2017 | 17.75% | 26.73% | 0.54x | 1.22x | ₹386.64 Million |
| 2018 | 15.37% | 33.06% | 0.40x | 1.18x | ₹351.93 Million |
| 2019 | 16.52% | 32.86% | 0.42x | 1.20x | ₹416.13 Million |
| 2020 | 13.71% | 30.64% | 0.37x | 1.21x | ₹260.14 Million |
| 2021 | 10.78% | 27.36% | 0.33x | 1.18x | ₹58.88 Million |
| 2022 | 13.31% | 33.03% | 0.35x | 1.16x | ₹279.30 Million |
| 2023 | 14.23% | 33.54% | 0.37x | 1.16x | ₹402.08 Million |
| 2024 | 15.47% | 33.87% | 0.38x | 1.22x | ₹534.46 Million |
| 2025 | 16.14% | 34.21% | 0.38x | 1.23x | ₹646.86 Million |
Industry Comparison
This section compares ICRA Limited's net assets metrics with peer companies in the Financial Data & Stock Exchanges industry.
Industry Context
- Industry: Financial Data & Stock Exchanges
- Average net assets among peers: $13,781,211,250
- Average return on equity (ROE) among peers: 15.33%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| ICRA Limited (ICRA) | ₹10.92 Billion | 13.35% | 0.25x | $241.21 Million |
| BSE Limited (BSE) | $24.44 Billion | 5.00% | 0.83x | $12.57 Billion |
| CARE Ratings Limited (CARERATING) | $8.16 Billion | 16.83% | 0.17x | $425.50 Million |
| CRISIL Limited (CRISIL) | $10.49 Billion | 29.03% | 0.43x | $904.41 Million |
| Multi Commodity Exchange of India Limited (MCX) | $12.05 Billion | 10.44% | 0.52x | $6.68 Billion |