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The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
History
The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
ICRA Limited is an independent and professional investment information and credit rating agency. The Company, through its subsidiaries, is involved in providing ratings, research, analytics, data and software services. Its segments include Ratings & ancillary services and…
Weekly engine runs — movement reflects the numbers, not analyst opinion.
A high-quality, steadily growing business, trading cheap versus its own history.
ICRA is scored on the nbfc / financials framework. It keeps a fat 27.1% of every rupee of sales as net profit.
Over the last 3 years revenue compounded at 14%/yr and profit at 10%/yr. Book value has grown 8%/yr. Return on equity is a healthy 16.8%. In the latest quarter profit fell 7% versus the prior quarter.
At 23× earnings, the stock sits at the 3rd percentile of its own 3.6-year range — the cheap end of where it has historically traded. Today's price implies ~10%/yr earnings growth for a decade. The books come through clean — a forensic grade of A.
A plain-English restatement of the figures on this page — rules-based, for education and research context, not investment advice or a recommendation.
| Ratio | Company | Sector | Read |
|---|---|---|---|
| P/E | 21.36 | 30.57 | better |
| P/B | 3.6 | 6.85 | better |
| EV/EBITDA | 13.47 | 20.14 | better |
| ROE | 16.77 | 20.62 | worse |
| ROCE | 23 | 26.76 | worse |
| ROA | 13.35 | 15.8 | worse |
| Quick Ratio | 3.8 | 3.81 | worse |
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Crisil | 45.5 | 12.1 | 25.8% |
| Care Ratings | 24.2 | 4.7 | 19.2% |
Not applicable for this sector.
Revenue has grown every year across all 4 financial years shown. 14% CAGR over 3 years — steady double-digit compounder. Growth is accelerating — latest year outpaced the prior year's rate.
Net profit has risen every year — the hallmark of a compounder. Revenue is outpacing profit (14% vs 10%) — costs are rising faster than the top line.
Operating margin has compressed from 40% to 37% — costs or competition are eating into profitability.
ROE at 15% — a respectable return on shareholder capital. ROE powered by fat margins — the hallmark of a high-quality franchise with pricing power. Low variance across years — a predictable business that earns steadily on its equity base.
EPS has grown every year — each share earns more than the last, consistently. 10% EPS CAGR — this is the rate at which each share's claim on earnings is compounding.
Operating cash flow has been positive every year — the business generates real cash, not just accounting profit. Financing outflows in consecutive years — balance-sheet discipline through debt repayment or dividends.
When operating cash keeps pace with reported profit, earnings are cash-backed; a persistent shortfall is a quality flag.
Revenue broadly flat QoQ — stable but not accelerating. Low quarterly variance (8% spread) — a predictable, non-seasonal revenue stream.
Quarterly net margins are expanding (22% → 27%) — profitability per rupee of revenue is improving.
How today's P/E compares to the stock's own historical range. Dashed line = the 3.6y median.
Promoter holding at 51.9% — majority control intact. MF stake down 4.0pp — domestic funds are booking profits or rebalancing out.
Produced by a rules-based engine over licensed exchange fundamentals — every sentence above is derived from the numbers shown, no analyst or AI opinion involved. Education and research context, not investment advice. We are not SEBI-registered as an Investment Adviser or Research Analyst.