ICRA Limited (ICRA) — Working Capital to Net Assets Ratio
ICRA Limited (ICRA) has a Working Capital to Net Assets ratio of 92.0% as of September 2025. Working capital of Rs10.05 Billion (current assets of Rs12.11 Billion minus current liabilities of Rs2.07 Billion) is measured against net assets of Rs10.92 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See ICRA free cash flow debt coverage to measure the company's free cash flow as a share of total liabilities.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
ICRA Limited Working Capital to Net Assets (2005–2025)
This chart shows how ICRA Limited's Working Capital to Net Assets ratio has evolved across 21 annual periods from 2005 to 2025. As of September 2025, the ratio stands at 92.0%, reflecting working capital of Rs10.05 Billion against net assets of Rs10.92 Billion INR. See how many days can ICRA Limited fund operations to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for ICRA Limited (2005–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for ICRA Limited from 2005 to 2025, covering 21 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see market cap of ICRA Limited.
| Year | WC/NA Ratio | Working Capital (INR) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 89.9% | Rs9.51 Billion | Rs10.58 Billion | Rs11.28 Billion | Rs1.77 Billion | ▲ +38.5 pp |
| 2024 | 51.4% | Rs5.05 Billion | Rs9.81 Billion | Rs6.56 Billion | Rs1.52 Billion | ▲ +6.0 pp |
| 2023 | 45.4% | Rs4.34 Billion | Rs9.55 Billion | Rs5.65 Billion | Rs1.32 Billion | ▲ +7.6 pp |
| 2022 | 37.8% | Rs3.20 Billion | Rs8.48 Billion | Rs4.36 Billion | Rs1.15 Billion | ▼ -12.0 pp |
| 2021 | 49.8% | Rs3.79 Billion | Rs7.61 Billion | Rs4.95 Billion | Rs1.16 Billion | ▼ -36.1 pp |
| 2020 | 85.9% | Rs6.05 Billion | Rs7.04 Billion | Rs7.20 Billion | Rs1.15 Billion | ▲ +16.6 pp |
| 2019 | 69.3% | Rs4.43 Billion | Rs6.40 Billion | Rs5.64 Billion | Rs1.20 Billion | ▲ +24.4 pp |
| 2018 | 44.9% | Rs2.95 Billion | Rs6.56 Billion | Rs4.02 Billion | Rs1.07 Billion | ▼ -18.6 pp |
| 2017 | 63.5% | Rs3.17 Billion | Rs5.00 Billion | Rs4.23 Billion | Rs1.05 Billion | ▲ +25.4 pp |
| 2016 | 38.1% | Rs1.82 Billion | Rs4.77 Billion | Rs3.19 Billion | Rs1.37 Billion | ▼ -1.9 pp |
| 2015 | 40.0% | Rs1.72 Billion | Rs4.29 Billion | Rs3.01 Billion | Rs1.30 Billion | ▼ -16.1 pp |
| 2014 | 56.1% | Rs2.18 Billion | Rs3.88 Billion | Rs3.17 Billion | Rs992.55 Million | ▲ +35.5 pp |
| 2013 | 20.5% | Rs706.14 Million | Rs3.44 Billion | Rs1.59 Billion | Rs882.37 Million | ▼ -0.1 pp |
| 2012 | 20.7% | Rs622.76 Million | Rs3.02 Billion | Rs1.37 Billion | Rs749.76 Million | ▲ +10.8 pp |
| 2011 | 9.8% | Rs252.39 Million | Rs2.57 Billion | Rs949.88 Million | Rs697.49 Million | ▼ -40.9 pp |
| 2010 | 50.7% | Rs1.12 Billion | Rs2.22 Billion | Rs2.15 Billion | Rs1.03 Billion | ▼ -15.3 pp |
| 2009 | 66.0% | Rs1.25 Billion | Rs1.89 Billion | Rs2.10 Billion | Rs848.94 Million | ▲ +38.5 pp |
| 2008 | 27.5% | Rs450.77 Million | Rs1.64 Billion | Rs973.19 Million | Rs522.42 Million | ▼ -7.4 pp |
| 2007 | 34.9% | Rs515.05 Million | Rs1.47 Billion | Rs28.97 Billion | Rs28.45 Billion | ▲ +24.3 pp |
| 2006 | 10.7% | Rs99.87 Million | Rs936.29 Million | Rs284.32 Million | Rs184.46 Million | ▲ +4.1 pp |
| 2005 | 6.6% | Rs55.03 Million | Rs837.92 Million | Rs196.40 Million | Rs141.37 Million | — |