📈 Live Market Tracking
Every NSE and BSE corporate filing, read and explained by AI within minutes — impact, key figures, short/long-term view and what to watch.
Live · AI analyzer runs every 5 min (07:00–23:55 IST)
Latest filing: 2026-10-08 16:33
206 analysed today
FollowTelegram
206
Today
149,607
All-time analysed
42,901
Positive
6,659
Negative
91,372
Neutral
8,607
Watch
📊 Last 7 days — analysed filings by sentiment
Note: These are AI-generated, educational summaries of public NSE
filings — grounded in each document, but not investment advice and possibly incomplete.
Verify against the original filing and consult a SEBI-registered adviser before acting.
23 announcements match the current filters (relevance ≥ 5).
ICRA Appoints Ritesh Gupta as Chief Business Officer to Succeed Retiring L. Shivakumar
ICRA Limited announced that its Board has approved the appointment of Mr. Ritesh Gupta as Executive Vice President & Chief Business Officer-Designate, effective October 12, 2026. He will take over as Chief Business Officer on January 1, 2027, following the superannuation of Mr. L. Shivakumar on December 31, 2026. Mr. Gupta brings roughly 27 years of experience in corporate and wholesale banking, having most recently served at IDFC First Bank. The planned leadership transition ensures continuity for ICRA's core business originating across corporate, NBFC, and infrastructure segments.
Confidence: HIGH
What changedMr. Ritesh Gupta has been appointed EVP & Chief Business Officer-Designate, taking over full CBO responsibilities from January 1, 2027, as Mr. L. Shivakumar retires.
Why it mattersThe Chief Business Officer drives commercial origination and client relationships across credit rating and research segments, making a smooth succession vital for franchise momentum.
Effective Date (Designate): October 12, 2026Effective Date (CBO): January 1, 2027Retirement Date (L. Shivakumar): December 31, 2026Incoming Executive Experience: nearly 27 years
📅 Short termNeutral market impact expected as this is a planned, orderly leadership succession with an overlapping handover window.
📈 Long termGupta's background in infrastructure, corporate banking, and NBFC portfolios may aid ICRA's market share in key debt issuance and risk analytics verticals.
⚠ Risk flags
- Execution risk during leadership transition in business origination
Key Highlights
Appointment of Mr. Ritesh Gupta as EVP & Chief Business Officer-Designate effective October 12, 2026
Transition to Chief Business Officer effective January 1, 2027
Current EVP & CBO Mr. L. Shivakumar retires on December 31, 2026
Incoming executive brings around 27 years of financial services experience, including IDFC First Bank and ANZ
👀 What to Watch
Monitor how the leadership transition progresses into Q4 FY27 and watch for any strategic shifts in ICRA's ratings origination and corporate client coverage.
Rs 105 Dividend Approved by ICRA Shareholders at 35th AGM
ICRA Limited's shareholders have officially approved a final dividend of Rs 105 per share for FY26 at the AGM held on July 30, 2026. This implies a total dividend payout of approximately Rs 101 crore, which constitutes about 55% of the company's TTM PAT of Rs 183 crore. The dividend yield stands at approximately 2.2% based on the current market price of Rs 4775.5. All resolutions, including the adoption of FY26 financial statements, were passed with a significant majority exceeding 98%.
Confidence: HIGH
What changedShareholders have formally ratified the FY26 financial results and the proposed dividend, ensuring the payout to eligible investors.
Why it mattersThe approval confirms a substantial cash return to shareholders, utilizing over half of the annual net profit, which underscores ICRA's stable cash-flow profile despite recent revenue sensitivities to interest rate cycles.
Dividend per share: Rs 105Total Dividend Payout: Rs 101.06 CrPayout vs TTM PAT: 55.2%Dividend Yield: 2.2%Institutional Dissent (Director): 5.14%
📅 Short termThe stock is likely to remain neutral to slightly positive as the dividend is confirmed, with a price adjustment expected on the ex-dividend date.
📈 Long termThe high dividend payout reflects a mature business model; long-term growth will depend on the successful integration of Fintellix and expansion into risk analytics.
⚠ Risk flags
- Minor institutional dissent on board re-appointments
Key Highlights
Final dividend of Rs 105 per equity share approved for the financial year ended March 31, 2026
Total dividend payout estimated at Rs 101.06 Cr, representing 55.2% of TTM PAT
Dividend resolution passed with a near-unanimous 99.9993% majority
Public institutional shareholders showed 5.14% dissent regarding the re-appointment of Director Ms. Wendy Huay Huay Cheong
Total of 25,456 shareholders were on record as of the July 23, 2026 cut-off date
👀 What to Watch
Investors should track the upcoming ex-dividend and payment dates to receive the Rs 105 per share payout. The high payout ratio suggests the company is in a mature phase with strong cash generation.
31.2% Revenue Growth in Q1 FY2027; ICRA Reports Rs 56.5 Cr PAT
ICRA delivered a strong Q1 FY2027 performance with consolidated revenue rising 31.2% YoY to Rs 163.4 crore. Profit After Tax (PAT) grew 32.0% YoY to Rs 56.5 crore, significantly aided by the Risk & Analytics (R&A) segment which saw a 58.7% revenue surge following the Fintellix acquisition. The company has now consolidated its position by acquiring the remaining stakes in D2K Technologies and Fintellix India, making them 100% subsidiaries. While the Ratings segment grew 13%, management flagged downside risks to India's FY2027 GDP growth, now estimated at 6.7% compared to 7.7% in FY2026.
Confidence: HIGH
What changedICRA has fully integrated its key acquisitions (Fintellix and D2K) as 100% subsidiaries and refreshed its corporate identity to reflect a broader focus beyond credit ratings.
Why it mattersThe rapid growth in Risk & Analytics reduces ICRA's historical dependence on cyclical credit rating volumes, creating a more diversified and stable revenue base through regulatory technology and data solutions.
Q1 FY2027 Revenue: Rs 163.4 CrQ1 Revenue vs TTM Revenue: ~27.2%Q1 PAT Growth (YoY): 32.0%Risk & Analytics Revenue Growth: 58.7%FY2027e GDP Growth: 6.7%
📅 Short termThe strong double-digit growth in both revenue and PAT is likely to be viewed positively by the market, especially the successful scaling of the non-ratings business.
📈 Long termThe transition to a subscription-based 'annuity' model in Risk & Analytics and expansion into international markets like the US and South Africa provides a structural growth lever beyond the domestic credit cycle.
⚠ Risk flags
- Sensitivity to interest rate cycles affecting bond issuance volumes
- Downside risks to domestic GDP growth due to weak monsoon and geopolitical conflicts
Key Highlights
Consolidated revenue grew 31.2% YoY to Rs 163.4 crore in Q1 FY2027
Risk & Analytics segment revenue increased to Rs 80.6 crore from Rs 50.8 crore in the previous year
Net Profit (PAT) increased 32.0% YoY to Rs 56.5 crore
Ratings & Ancillary services revenue grew 13% YoY to Rs 83.8 crore despite lower bond issuances
Acquired remaining stakes in D2K Technologies and Fintellix India to make them wholly-owned subsidiaries
👀 What to Watch
Monitor the scaling of the Risk & Analytics segment as it shifts toward a subscription-based model, and watch for the impact of potential interest rate hikes on bond rating volumes in the second half of FY2027.
32% PAT Growth in Q1 FY2027; Revenue Up 31.2% to ₹163.4 Cr Driven by Analytics
ICRA reported a strong start to FY2027 with consolidated revenue rising 31.2% YoY to ₹163.4 crore and PAT increasing 32.0% to ₹56.5 crore. These results include the consolidation of Fintellix (acquired Oct 2025), making them not directly comparable to Q1 FY2026. Ratings revenue grew 12.9% YoY, supported by 18.3% growth in bank credit, despite a decline in bond issuances due to elevated yields. The company also completed the acquisition of remaining stakes in D2K Technologies and Fintellix, making them wholly-owned subsidiaries.
Confidence: HIGH
What changedICRA has fully integrated Fintellix and D2K Technologies as 100% subsidiaries and is seeing a significant revenue contribution from its Risk & Analytics segment.
Why it mattersThe business is successfully diversifying away from cyclical credit ratings towards stable, product-centric analytics and regulatory technology, which currently accounts for a larger portion of the growth mix.
Q1 FY2027 Revenue: ₹163.4 croreQ1 FY2027 PAT: ₹56.5 croreRevenue Growth (YoY): 31.2%Ratings Revenue Growth: 12.9%Bank Credit Growth: 18.3%FY2027 GDP Growth Forecast: 6.7%
📅 Short termThe strong headline growth in PAT and Revenue is likely to be viewed positively by the market, although the lack of direct comparability due to acquisitions may temper the reaction.
📈 Long termThe transition to a more balanced mix between ratings and analytics provides a structural hedge against interest rate volatility that typically impacts bond rating volumes.
⚠ Risk flags
- Inorganic growth impact masks underlying organic performance
- Sensitivity to interest rate cycles affecting bond issuances
- Moderating GDP growth forecast (6.7% vs 7.7% in FY26)
Key Highlights
Consolidated revenue from operations increased 31.2% YoY to ₹163.4 crore.
Profit After Tax (PAT) rose 32.0% YoY to ₹56.5 crore from ₹42.8 crore.
Ratings and ancillary services revenue grew by 12.9% YoY despite lower bond issuance volumes.
Bank credit growth of 18.3% YoY as of Q1 FY2027 end supported the ratings segment.
Published 136 industry research reports and hosted 5 sector-focused webinars during the quarter.
👀 What to Watch
Investors should monitor the organic growth rate of the Risk & Analytics segment excluding Fintellix to gauge underlying momentum, and watch for any recovery in bond market issuances if interest rates soften.
ICRA Q1 FY27 Results: PAT Grows 32% YoY to ₹56.46 Cr; Risk & Analytics Revenue Surges 59%
ICRA reported a strong start to FY27 with consolidated revenue from operations growing 31.2% YoY to ₹163.37 Cr. Net profit increased 32% YoY to ₹56.46 Cr, aided by a ₹4.39 Cr exceptional gain from asset sales. A key highlight is the 'Risk & Analytics' segment, which saw revenue jump 58.7% YoY to ₹80.56 Cr, now contributing nearly 50% of total operational revenue. The company also completed the 100% acquisition of Fintellix India by purchasing the remaining 1.25% stake for ₹3.17 Cr.
Confidence: HIGH
What changedICRA has successfully scaled its non-rating business (Risk & Analytics) to match its core ratings revenue and has finalized the full ownership of its key acquisition, Fintellix.
Why it mattersThe shift towards a balanced revenue mix between Ratings and Analytics reduces the company's historical sensitivity to bond market volumes and interest rate fluctuations, leading to more stable annuity-based income.
Consolidated Revenue (Q1 FY27): ₹163.37 CrConsolidated PAT (Q1 FY27): ₹56.46 CrRisk & Analytics Revenue Growth (YoY): 58.7%Exceptional Gain: ₹4.39 CrFintellix Final Tranche Cost: ₹3.17 CrBasic EPS (Q1 FY27): ₹58.36
📅 Short termThe stock is likely to react positively to the strong double-digit growth in both top-line and bottom-line, alongside the successful diversification of revenue streams.
📈 Long termThe transition to a subscription-based risk-tech model through Fintellix and international expansion into the US and South Africa provides a structural growth runway beyond domestic credit rating cycles.
⚠ Risk flags
- Sensitivity to interest rate cycles affecting bond issuance volumes
- Integration and scaling risks of international subsidiaries
Key Highlights
Consolidated Revenue from operations increased to ₹163.37 Cr in Q1 FY27 from ₹124.49 Cr in Q1 FY26.
Net Profit (PAT) grew 32% YoY to ₹56.46 Cr compared to ₹42.76 Cr in the same quarter last year.
Risk & Analytics segment revenue surged to ₹80.56 Cr from ₹50.76 Cr YoY, a 58.7% growth.
Exceptional gain of ₹4.39 Cr recorded during the quarter from the sale of property, plant, and equipment.
Final 1.25% equity in Fintellix India acquired for ₹3.17 Cr post-June 30, making it a 100% subsidiary.
👀 What to Watch
Watch for the continued growth momentum in the Risk & Analytics segment and how it offsets potential volatility in the core Ratings business due to interest rate cycles.
ICRA Q1 FY27 PAT Rises 32% YoY to ₹56.46 Cr; Risk & Analytics Revenue Surges 59%
ICRA Limited reported a strong performance for Q1 FY27, with consolidated revenue from operations growing 31.2% YoY to ₹163.37 Cr. Net profit (PAT) increased 32% YoY to ₹56.46 Cr, driven by robust growth in the Risk & Analytics segment which now contributes nearly 49% of total segment revenue. The core Ratings business grew 12.9% YoY to ₹83.79 Cr. Post-quarter, the company also completed the 100% acquisition of Fintellix India for a final consideration of ₹3.17 Cr.
Confidence: HIGH
What changedICRA has successfully scaled its Risk & Analytics division to nearly match its core Ratings business in revenue contribution, while also completing the full acquisition of Fintellix.
Why it mattersThe shift towards analytics and risk solutions provides a more stable, annuity-based revenue stream, reducing the company's historical dependence on cyclical credit rating volumes influenced by interest rate environments.
Q1 Revenue from Operations: ₹163.37 CrQ1 Consolidated PAT: ₹56.46 CrRisk & Analytics Revenue Growth (YoY): 58.7%Ratings Segment Revenue Growth (YoY): 12.9%Exceptional Gain (Property Sale): ₹4.39 Cr
📅 Short termThe strong double-digit growth in both revenue and profit is likely to be viewed positively by the market in the coming weeks.
📈 Long termThe structural diversification into risk-tech and analytics through acquisitions like Fintellix is building a more resilient business model with higher growth potential than traditional ratings.
⚠ Risk flags
- Sensitivity to interest rate cycles affecting bond market issuances
- Integration and scaling risks of the newly acquired analytics businesses
Key Highlights
Consolidated Revenue from operations increased 31.2% YoY to ₹163.37 Cr from ₹124.49 Cr in the previous year
Risk & Analytics segment revenue jumped 58.7% YoY to ₹80.56 Cr, significantly outpacing the core ratings business
Consolidated Profit After Tax (PAT) grew 32% YoY to ₹56.46 Cr, including an exceptional gain of ₹4.39 Cr from property sale
Ratings & Ancillary services segment revenue grew 12.9% YoY to ₹83.79 Cr
Acquisition of the remaining 1.25% stake in Fintellix India completed post-June 30 for ₹3.17 Cr
👀 What to Watch
Investors should monitor the growth trajectory of the Risk & Analytics segment as it becomes a larger part of the business mix, and watch for the impact of interest rate movements on bond issuance volumes in the Ratings segment.
₹3.17 Cr acquisition of remaining 1.25% stake in Fintellix; now a 100% subsidiary
ICRA has completed the acquisition of Fintellix India Private Limited by purchasing the final 1.25% stake for ₹3.17 crore. Fintellix, a specialist in risk and data analytics, reported an FY26 turnover of ₹93.3 crore, which represents approximately 15.5% of ICRA's TTM revenue of ₹600 crore. This transaction concludes the acquisition process initiated in 2025, making Fintellix a wholly-owned subsidiary. The move aligns with ICRA's strategy to diversify into high-growth risk-tech and regulatory reporting segments.
Confidence: HIGH
What changedICRA has increased its stake in Fintellix India Private Limited from 98.75% to 100%, making it a wholly-owned subsidiary.
Why it mattersFull ownership simplifies the corporate structure and allows ICRA to fully leverage Fintellix's proprietary data platform for regulatory reporting and risk analytics, reducing ICRA's dependence on cyclical credit rating volumes.
Final Stake Acquisition Cost: ₹3.17 croreFintellix FY26 Turnover: ₹93.3 croreFintellix Revenue vs ICRA TTM Revenue: ~15.5%Total Deal Value: ₹253.25 croreStake Acquired: 1.25%
📅 Short termThe market is likely to view this as a routine completion of a previously announced strategic acquisition with minimal immediate impact on the share price.
📈 Long termStructural positive as ICRA builds a diversified 'Risk-Tech' portfolio, providing more stable, non-cyclical revenue streams through Fintellix's global BFSI client base.
⚠ Risk flags
- Integration risks of software-led business into a service-led rating agency
- Execution risk in expanding international business in the US and UK
Key Highlights
Acquired the final 1.25% shareholding (62,500 shares) for a cash consideration of ₹3.17 crore
Fintellix FY26 turnover grew to ₹93.3 crore, up 16.2% from ₹80.3 crore in FY25
Fintellix's annual revenue now accounts for ~15.5% of ICRA's consolidated TTM revenue
Total acquisition cost for 100% of Fintellix stands at approximately ₹253.25 crore
Fintellix serves 30+ institutions across India, UK, and the US in the BFSI segment
👀 What to Watch
Watch for the successful integration of Fintellix's software products into ICRA's analytics division and the progress of transitioning their revenue model from upfront licenses to stable annuity-based subscriptions.
Rs 32 Cr Acquisition: ICRA to Buy Remaining 40% Stake in D2K Technologies
ICRA Limited's material subsidiary, ICRA Analytics, has approved the acquisition of the remaining 40% equity stake in D2K Technologies India Private Limited for Rs 32 crores. D2K, a provider of banking and finance software solutions, will become a 100% step-down subsidiary of ICRA upon completion. The target company reported a turnover of Rs 23.76 crores for FY26, and the acquisition cost represents approximately 5.3% of ICRA's TTM revenue. This move consolidates ICRA's position in the risk-tech and regulatory reporting space.
Confidence: HIGH
What changedICRA is increasing its ownership in D2K Technologies from 60% to 100%, making it a wholly-owned step-down subsidiary.
Why it mattersFull ownership allows ICRA to better integrate D2K's banking and finance software services with its existing risk analytics business, facilitating a shift toward stable, annuity-based revenue models.
Acquisition Cost: Rs 32 croresD2K FY26 Turnover: Rs 23.76 croresAcquisition vs TTM Revenue: ~5.3%Acquisition vs Net Worth: ~3.6%Stake Acquired: 40%
📅 Short termThe announcement is likely to be viewed positively as it demonstrates strategic consolidation, though the immediate financial impact is modest relative to ICRA's total market cap.
📈 Long termStrengthens ICRA's non-rating business by fully capturing the growth potential of D2K's regulatory reporting and risk management software in the BFSI sector.
⚠ Risk flags
- D2K turnover declined slightly from Rs 25.05 Cr in FY25 to Rs 23.76 Cr in FY26
Key Highlights
Acquisition of 4,00,000 equity shares representing the remaining 40% stake in D2K Technologies.
Total cash consideration for the 40% stake is fixed at Rs 32 crores.
D2K Technologies reported a turnover of Rs 23.76 crores for FY26, compared to Rs 25.05 crores in FY25.
Post-acquisition, ICRA Analytics will hold 100% of D2K's equity share capital on a fully diluted basis.
👀 What to Watch
Monitor the integration of D2K's software solutions into ICRA's broader analytics portfolio and observe if this consolidation improves operating margins in the Research & Analytics segment.
ICRA FY26 Revenue Up 20.4%; Declares Total Dividend of INR 105 Per Share
ICRA Limited reported a robust performance for FY26 with consolidated revenue growing 20.4% year-on-year, driven by a 29.8% surge in the Research and Analytics (R&A) segment. The Ratings business maintained steady growth at 14.2% for the full year, while Q4 revenue alone jumped 28.4% following the Fintellix acquisition. To celebrate its 35th anniversary, the company recommended a total dividend of INR 105 per share, including a special dividend of INR 35. Management has projected a cautious GDP growth of 6.2% for FY27, citing geopolitical risks and monsoon uncertainties.
Key Highlights
Consolidated FY26 revenue increased by 20.4% YoY, with Q4 revenue growing 28.4% YoY to INR 72.8 crores PBT (before exceptions).
Research and Analytics segment grew 56.8% in Q4, significantly boosted by the acquisition of Fintellix and demand for risk solutions.
The Board recommended a total dividend of INR 105 per share, consisting of a regular INR 70 and a special INR 35 dividend.
Ratings business grew 14.2% in FY26, supported by strong credit activity and a focus on high-growth market segments.
Management expects the transition to the Expected Credit Loss (ECL) framework by banks in 2027 to drive future demand for analytics.
👀 What to Watch
Investors should find the high dividend payout and the successful integration of Fintellix encouraging for long-term value. While the FY27 macroeconomic outlook is cautious, the company's diversification into BankTech and CapTech provides a defensive hedge against potential volatility in the ratings business.
ICRA FY26 Revenue Jumps 20.4% to ₹599.5 Cr; Total Dividend Declared at ₹105 Per Share
ICRA Limited reported a robust financial performance for FY2026, with consolidated revenue from operations growing 20.4% to ₹599.5 crore. The Research & Analytics segment was a major growth driver, increasing 29.8% YoY to ₹265.8 crore, significantly aided by the Fintellix acquisition. Profit Before Tax (before exceptional items) rose 10% to ₹257.4 crore, while the company rewarded shareholders with a substantial total dividend of ₹105 per share, including a ₹35 special dividend. Despite a projected moderation in India's GDP growth for FY2027, ICRA maintains strong credit quality metrics with low investment-grade default rates.
Key Highlights
Revenue from operations increased by 20.4% YoY to ₹599.5 crore in FY2026.
Research & Analytics segment revenue grew by 29.8% to ₹265.8 crore, driven by BankTech and CapTech.
Total dividend of ₹105 per share announced, which includes a special dividend of ₹35 per share.
Profit After Tax (PAT) reached ₹182.5 crore, marking a 6.6% growth over the previous fiscal year.
Ratings segment results grew to ₹190.9 crore in FY2026 from ₹161.4 crore in FY2025.
👀 What to Watch
Investors should take note of the strong growth in non-rating segments like Research & Analytics, which provides a diversified revenue stream. The high dividend payout reflects strong cash generation, making it an attractive pick for income-focused investors, though macro-economic headwinds in FY2027 should be monitored.
ICRA Q4 FY2026 Revenue Jumps 28.4% to ₹174.9 Cr; Total Dividend Declared at ₹105/Share
ICRA reported a strong 28.4% YoY growth in Q4 FY2026 consolidated revenue reaching ₹174.9 crore, while full-year PBT rose 10% to ₹257.4 crore. The Research & Analytics segment saw a massive 56.8% quarterly growth, significantly boosted by the Fintellix acquisition. Shareholders are rewarded with a substantial dividend of ₹105 per share, including a ₹35 special dividend for the company's 35th anniversary. Despite strong performance, the company warns of a potential GDP slowdown to 6.2% in FY2027 due to geopolitical tensions and energy prices.
Key Highlights
Consolidated revenue for Q4 FY2026 grew 28.4% YoY to ₹174.9 crore.
Full-year FY2026 Profit Before Tax (PBT) increased by 10.0% to ₹257.4 crore.
Research & Analytics revenue surged 56.8% in Q4, aided by the Fintellix acquisition.
Board recommended a total dividend of ₹105 per share, significantly up from ₹60 in the previous year.
Ratings & Ancillary services revenue grew 14.2% for the full year FY2026 despite bond market volatility.
👀 What to Watch
Investors should find the strong revenue growth and massive dividend payout as a sign of robust cash flow and management confidence. The successful integration of Fintellix provides a new growth lever, though the cautious outlook on India's FY2027 GDP warrants a watchful eye on the core ratings business.
ICRA Recommends ₹105 Dividend per Share Including ₹35 Special Dividend
ICRA Limited has recommended a substantial final dividend of ₹105 per equity share for the financial year ended March 31, 2026. This payout includes a special dividend of ₹35 per share to commemorate the company's 35th year of operations. The board has also approved the audited financial results for FY26, which received an unmodified opinion from statutory auditors Deloitte. The dividend, if approved at the AGM, will be paid on or before August 21, 2026.
Key Highlights
Recommended a total final dividend of ₹105 per equity share of face value ₹10.
Includes a special dividend of ₹35 per share for the 35th anniversary of operations.
Record date for dividend eligibility and AGM is fixed as July 23, 2026.
The 35th Annual General Meeting is scheduled for July 30, 2026.
Statutory auditors Deloitte Haskins & Sells issued a clean audit report for FY26.
👀 What to Watch
Investors should track the record date of July 23, 2026, to be eligible for the ₹105 per share payout. The special dividend reflects strong capital management and a milestone celebration, which is a positive signal for long-term holders.
ICRA Recommends Rs 105 Dividend per Share; Sets July 23 as Record Date
ICRA Limited has recommended a total dividend of Rs. 105 per equity share for the financial year ended March 31, 2026. This payout includes a regular dividend and a special dividend of Rs. 35 per share to commemorate the company's 35th year of operations. The company has fixed July 23, 2026, as the record date to determine eligibility for the dividend, which will be paid on or before August 21, 2026, subject to shareholder approval at the AGM. The 35th Annual General Meeting is scheduled for July 30, 2026.
Key Highlights
Recommended a total dividend of Rs. 105 per equity share of face value Rs. 10 each.
Includes a special dividend of Rs. 35 per share to mark the company's 35th year of operations.
Record date for dividend eligibility and AGM participation is July 23, 2026.
The 35th Annual General Meeting (AGM) is scheduled for July 30, 2026.
Dividend payment will be completed on or before August 21, 2026.
👀 What to Watch
Investors interested in the dividend should ensure they hold the stock before the ex-dividend date (typically one business day prior to July 23) to be eligible for the Rs. 105 per share payout.
ICRA Recommends Final Dividend of Rs 105 Per Share, Including Rs 35 Special Dividend
ICRA Limited has recommended a total final dividend of Rs 105 per equity share for the financial year ended March 31, 2026. This payout includes a special dividend of Rs 35 per share to commemorate the company's 35th year of operations. The record date for determining shareholder eligibility is set for July 23, 2026, with the payment scheduled to be made on or before August 21, 2026. This significant payout reflects the company's strong cash position and commitment to rewarding shareholders during milestone years.
Key Highlights
Recommended a total final dividend of Rs 105 per equity share of face value Rs 10 each
Includes a one-time special dividend of Rs 35 per share for the 35th year of operations
The record date for dividend eligibility is fixed as July 23, 2026
Dividend payment will be completed on or before August 21, 2026, subject to AGM approval
The 35th Annual General Meeting is scheduled for July 30, 2026
👀 What to Watch
Investors seeking dividend income should ensure they hold shares before the record date of July 23, 2026, to qualify for the Rs 105 per share payout.
ICRA Recommends ₹105 Dividend per Share, Including ₹35 Special Dividend for FY26
ICRA Limited has announced its financial results for the fiscal year ended March 31, 2026, alongside a significant dividend declaration. The Board recommended a final dividend of ₹105 per equity share, which includes a one-time special dividend of ₹35 to celebrate the company's 35th year of operations. The record date for the dividend is set for July 23, 2026, with payment expected by August 21, 2026. This substantial payout reflects strong cash generation and a commitment to returning value to shareholders.
Key Highlights
Recommended a total final dividend of ₹105 per equity share of face value ₹10 each.
Includes a special dividend of ₹35 per share to commemorate 35 years of operations.
The record date for dividend eligibility and the Annual General Meeting is July 23, 2026.
Dividend payment is scheduled to be completed on or before August 21, 2026.
The 35th Annual General Meeting (AGM) is scheduled for July 30, 2026.
👀 What to Watch
Investors should ensure they hold the shares before the record date of July 23, 2026, to qualify for the ₹105 per share payout. The inclusion of a special dividend suggests a healthy balance sheet and management's confidence in the company's long-term stability.
ICRA Recommends Rs 105 Dividend Including Special Payout for FY26
ICRA Limited has approved its audited financial results for the fiscal year ended March 31, 2026. A major highlight for shareholders is the recommendation of a total final dividend of Rs. 105 per equity share, which includes a special dividend of Rs. 35 to mark the company's 35th year of operations. The record date for the dividend has been set for July 23, 2026, with the payout expected by August 21, 2026. The company will hold its 35th Annual General Meeting on July 30, 2026.
Key Highlights
Recommended a total final dividend of Rs. 105 per equity share of face value Rs. 10.
Includes a special dividend of Rs. 35 per share to commemorate 35 years of operations.
Record date for dividend eligibility is fixed as July 23, 2026.
Dividend payment will be processed on or before August 21, 2026.
Statutory auditors Deloitte Haskins & Sells provided an unmodified audit report for FY26.
👀 What to Watch
Investors seeking high dividend yields should note the record date of July 23, 2026, to qualify for the Rs. 105 payout. The inclusion of a special dividend reflects strong cash reserves and a shareholder-friendly management stance.
ICRA Subsidiary ICRA Analytics Receives Rs 19.17 Cr Income Tax Demand
ICRA Limited's wholly-owned material subsidiary, ICRA Analytics Limited, has received a rectification order from the Income Tax Department for FY 2024-25. The order raises an outstanding tax demand of Rs 19.17 Crore against the subsidiary. The company has stated that there is no immediate financial implication as it intends to file an appeal and a stay of demand. Investors should monitor the resolution of this tax dispute as it involves a material subsidiary.
Key Highlights
Tax demand of Rs 19.17 Crore raised against ICRA Analytics Limited
Order received from the Income Tax Department on May 19, 2026, for FY 2024-25
ICRA Analytics Limited is a material, wholly-owned subsidiary of ICRA Limited
Company to file a rectification application and an appeal for a stay of demand
👀 What to Watch
Monitor the progress of the tax appeal and any potential impact on consolidated cash flows in future quarters. No immediate action is required as the company is contesting the demand.
ICRA Analytics Recommends Dividend of Rs 54 Per Share; Total Payout Rs 53.7 Crores
ICRA Limited's wholly owned material subsidiary, ICRA Analytics Limited, has recommended a dividend of Rs 54 per equity share for the financial year. The total dividend payout is estimated at Rs 53.7 crores. Since ICRA Analytics is a 100% subsidiary, this entire dividend amount will flow directly to the parent company, ICRA Limited. This move strengthens the parent company's cash position and highlights the strong financial performance of its analytics division.
Key Highlights
ICRA Analytics Limited recommended a dividend of Rs 54 per equity share of face value Rs 10.
The total recommended dividend payout amounts to Rs 53.7 crores.
ICRA Analytics is a wholly owned, material subsidiary of ICRA Limited.
The dividend inflow will directly benefit the parent company's consolidated cash reserves.
👀 What to Watch
Investors should note the strong performance of ICRA's non-rating business, which provides a diversified revenue stream. The substantial dividend from the subsidiary enhances ICRA Limited's ability to maintain its own dividend payout or reinvest in growth.
Nippon India MF Increases Stake in ICRA to 8.39%; Pari Washington Trims Holding
ICRA Limited has disclosed significant shifts in its institutional shareholding patterns following transactions between July 2025 and April 2026. Nippon India Mutual Fund increased its stake by 1.50%, bringing its total holding to 8.39% through open market purchases. Conversely, Pari Washington India Master Fund and Investment Fund reduced their combined stake by 1.04%, lowering their position to 3.97%. These movements reflect active institutional rebalancing within the credit rating agency.
Key Highlights
Nippon India Mutual Fund increased its stake in ICRA from 6.88% to 8.39%.
Nippon acquired 1,44,959 shares through open market transactions over a nine-month period.
Pari Washington funds offloaded 1,00,000 shares, reducing their total holding from 5.01% to 3.97%.
ICRA's total equity share capital remains unchanged at 96,51,231 shares of Rs 10 each.
👀 What to Watch
The increased stake by a major domestic fund like Nippon India suggests long-term institutional confidence, though it is partially offset by Pari Washington's exit. Investors should monitor if further institutional churn occurs, which could impact stock liquidity.
ICRA Q3 FY2026 Revenue Surges 35.3% to ₹163.6 Cr Driven by Fintellix Acquisition
ICRA Limited reported a robust 35.3% YoY growth in consolidated revenue for Q3 FY2026, reaching ₹163.6 crore. This growth was significantly bolstered by the Research & Analytics segment, which saw a 58.3% revenue jump following the Fintellix acquisition. Profit Before Tax (before exceptional items) grew by 10.9% to ₹61.8 crore, reflecting some margin pressure from acquisition-related amortization and a one-time Labour Code impact. The core Ratings business maintained steady momentum with 19.6% YoY revenue growth supported by strong bank credit demand.
Key Highlights
Consolidated revenue for Q3 FY2026 rose to ₹163.6 crore from ₹120.9 crore in the previous year.
Research & Analytics segment revenue grew 58.3% YoY to ₹77.9 crore, with Fintellix contributing ₹24.9 crore.
Profit Before Tax (PBT) before exceptional items increased 10.9% YoY to ₹61.8 crore for the quarter.
Ratings and ancillary services revenue grew 19.6% YoY to ₹86.5 crore driven by robust bank credit growth.
Company projects a positive macro outlook with FY2026 GDP growth estimated at 7.4% and CPI inflation at 2.0%.
👀 What to Watch
Investors should focus on the successful integration of Fintellix and its impact on long-term margins, as current PBT growth is trailing revenue growth. The steady performance of the core ratings business and optimistic macro projections for FY2026 provide a stable outlook for the stock.
