ICRA Limited (ICRA) - Net Assets

Latest as of September 2025: Rs10.92 Billion INR ≈ $118.13 Million USD

Based on the latest financial reports, ICRA Limited (ICRA) has net assets worth Rs10.92 Billion INR (≈ $118.13 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs13.64 Billion ≈ $147.55 Million USD) and total liabilities (Rs2.72 Billion ≈ $29.42 Million USD). 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. Check ICRA Limited (ICRA) asset resilience to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	Rs10.92 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. Also explore balance sheet size of ICRA Limited for the complete picture of this company's asset base.

Annual Net Assets for ICRA Limited (2002–2025)

The table below shows the annual net assets of ICRA Limited from 2002 to 2025. For live valuation and market cap data, see ICRA Limited market capitalisation.

Year	Net Assets	Change
2025-03-31	Rs10.58 Billion ≈ $114.38 Million	+7.82%
2024-03-31	Rs9.81 Billion ≈ $106.09 Million	+2.73%
2023-03-31	Rs9.55 Billion ≈ $103.27 Million	+12.65%
2022-03-31	Rs8.48 Billion ≈ $91.68 Million	+11.39%
2021-03-31	Rs7.61 Billion ≈ $82.30 Million	+8.07%
2020-03-31	Rs7.04 Billion ≈ $76.16 Million	+10.09%
2019-03-31	Rs6.40 Billion ≈ $69.17 Million	-2.55%
2018-03-31	Rs6.56 Billion ≈ $70.98 Million	+31.28%
2017-03-31	Rs5.00 Billion ≈ $54.07 Million	+4.81%
2016-03-31	Rs4.77 Billion ≈ $51.59 Million	+11.10%
2015-03-31	Rs4.29 Billion ≈ $46.44 Million	+10.55%
2014-03-31	Rs3.88 Billion ≈ $42.01 Million	+12.99%
2013-03-31	Rs3.44 Billion ≈ $37.18 Million	+14.01%
2012-03-31	Rs3.02 Billion ≈ $32.61 Million	+17.29%
2011-03-31	Rs2.57 Billion ≈ $27.80 Million	+15.94%
2010-03-31	Rs2.22 Billion ≈ $23.98 Million	+17.50%
2009-03-31	Rs1.89 Billion ≈ $20.41 Million	+15.17%
2008-03-31	Rs1.64 Billion ≈ $17.72 Million	+11.17%
2007-03-31	Rs1.47 Billion ≈ $15.94 Million	+57.42%
2006-03-31	Rs936.29 Million ≈ $10.13 Million	+11.74%
2005-03-31	Rs837.92 Million ≈ $9.06 Million	+5.78%
2004-03-31	Rs792.11 Million ≈ $8.57 Million	+8.33%
2003-03-31	Rs731.19 Million ≈ $7.91 Million	+8.95%
2002-03-31	Rs671.13 Million ≈ $7.26 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	Rs9.29 Billion	88.16%
Common Stock	Rs96.51 Million	0.92%
Other Comprehensive Income	Rs1.16 Billion	11.01%
Total Equity	Rs10.53 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
Shenzhen Huijie Group Co Ltd SHE:002763	$564.46 Million
Sijin Intelligent Forming Machinery SHE:003025	$564.68 Million
Shanghai Phoenix Enterprise Group Co Ltd A SHG:600679	$564.79 Million
Pilani Investment and Industries Corporation Limited NSE:PILANIINVS	$564.85 Million
SandRidge Energy Inc NYSE:SD	$564.11 Million
Ari Real Estate Arena Investment Ltd TA:ARIN	$563.77 Million
Huasu Holdings Co Ltd SHE:000509	$563.75 Million
Kid ASA OL:KID	$563.71 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	Rs1.70 Billion	+16.14%
Dividends Paid	Rs974.59 Million	-9.25%
Other Comprehensive Income	Rs29.23 Million	+0.28%
Other Changes	Rs12.67 Million	+0.12%
Total Change	Rs-	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: 4.96x
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 56.98x to 4.96x 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	Rs95.16	Rs5422.00	x
2006-03-31	Rs106.33	Rs5422.00	x
2007-03-31	Rs147.39	Rs5422.00	x
2008-03-31	Rs163.86	Rs5422.00	x
2009-03-31	Rs188.71	Rs5422.00	x
2010-03-31	Rs221.72	Rs5422.00	x
2011-03-31	Rs257.05	Rs5422.00	x
2012-03-31	Rs301.61	Rs5422.00	x
2013-03-31	Rs339.24	Rs5422.00	x
2014-03-31	Rs387.94	Rs5422.00	x
2015-03-31	Rs434.47	Rs5422.00	x
2016-03-31	Rs482.30	Rs5422.00	x
2017-03-31	Rs505.31	Rs5422.00	x
2018-03-31	Rs665.14	Rs5422.00	x
2019-03-31	Rs653.50	Rs5422.00	x
2020-03-31	Rs729.38	Rs5422.00	x
2021-03-31	Rs787.72	Rs5422.00	x
2022-03-31	Rs877.00	Rs5422.00	x
2023-03-31	Rs987.89	Rs5422.00	x
2024-03-31	Rs1014.59	Rs5422.00	x
2025-03-31	Rs1093.25	Rs5422.00	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	Rs22.50 Million
2003	13.27%	31.52%	0.36x	1.16x	Rs23.93 Million
2004	13.96%	33.64%	0.35x	1.20x	Rs31.37 Million
2005	9.66%	21.79%	0.38x	1.17x	Rs-2.84 Million
2006	15.20%	42.84%	0.29x	1.20x	Rs48.67 Million
2007	13.56%	28.33%	0.02x	20.31x	Rs52.54 Million
2008	17.38%	28.63%	0.46x	1.32x	Rs120.91 Million
2009	20.61%	28.63%	0.50x	1.45x	Rs200.20 Million
2010	24.12%	32.94%	0.50x	1.46x	Rs313.04 Million
2011	18.71%	24.91%	0.58x	1.30x	Rs223.77 Million
2012	17.91%	26.03%	0.54x	1.27x	Rs238.48 Million
2013	17.44%	23.53%	0.57x	1.30x	Rs252.32 Million
2014	17.77%	24.43%	0.55x	1.33x	Rs301.37 Million
2015	15.26%	20.40%	0.55x	1.36x	Rs225.71 Million
2016	16.01%	22.44%	0.54x	1.32x	Rs286.20 Million
2017	17.75%	26.73%	0.54x	1.22x	Rs386.64 Million
2018	15.37%	33.06%	0.40x	1.18x	Rs351.93 Million
2019	16.52%	32.86%	0.42x	1.20x	Rs416.13 Million
2020	13.71%	30.64%	0.37x	1.21x	Rs260.14 Million
2021	10.78%	27.36%	0.33x	1.18x	Rs58.88 Million
2022	13.31%	33.03%	0.35x	1.16x	Rs279.30 Million
2023	14.23%	33.54%	0.37x	1.16x	Rs402.08 Million
2024	15.47%	33.87%	0.38x	1.22x	Rs534.46 Million
2025	16.14%	34.21%	0.38x	1.23x	Rs646.86 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: $12,382,215,845
Average return on equity (ROE) among peers: 20.40%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
ICRA Limited (ICRA)	Rs10.92 Billion	13.35%	0.25x	$564.29 Million
BSE Limited (BSE)	$26.60 Billion	4.88%	0.58x	$15.99 Billion
CARE Ratings Limited (CARERATING)	$5.37 Billion	15.35%	0.15x	$542.76 Million
CRISIL Limited (CRISIL)	$3.94 Billion	52.09%	0.54x	$3.39 Billion
Multi Commodity Exchange of India Limited (MCX)	$13.62 Billion	9.29%	0.37x	$8.18 Billion

About ICRA Limited

NSE:ICRA India Financial Data & Stock Exchanges

Market Cap

$564.29 Million

Rs52.18 Billion INR

Market Cap Rank

#11913 Global

#561 in India

Share Price

Rs5422.00

Change (1 day)

-0.23%

52-Week Range

Rs5003.00 - Rs7004.50

All Time High

Rs7269.20