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View Claim Ledger →CARE Ratings Ltd — Q4 FY26
CARE Ratings delivered a strong FY26 with consolidated revenue of ₹473.07 crore (+18% YoY) and PAT of ₹173.69 crore (+24% YoY), driven by broad-based growth across domestic ratings (+15%), non-ratings (+19%), and international operations.
bullish
high
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CARE Ratings delivered a strong FY26 with consolidated revenue of ₹473.07 crore (+18% YoY) and PAT of ₹173.69 crore (+24% YoY), driven by broad-based growth across domestic ratings (+15%), non-ratings (+19%), and international operations. The ratings segment benefited from buoyant bank loan growth (16.1% YoY) offsetting a soft bond market. Non-ratings crossed ₹50 crore revenue, with analytics subsidiary Capital achieving breakeven. Management highlighted 60% AI tool adoption and a disciplined inorganic strategy. FY27 GDP growth is projected at 6.7% assuming $90/bbl oil, with risks from prolonged West Asia conflict and potential moderation in corporate borrowing. Key risk: escalation of geopolitical tensions could dampen credit demand and delay capital expenditure plans.
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Prolonged West Asia conflict impacting oil prices
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Rated corporates portfolio
5,200+
300+ new clients in single A and above
Onboarded over 300 clients in the single A and above category in FY26.
CARE Global IFSC debt rated
$8.5B
First full year of operations
Rated USD 8.5 billion of corporate debt with 30+ issuers across 10+ sectors.
CARE ESG market share
58%
Market leader among Category 1 ESG providers
Gained 58% market share amongst category 1 ESG rating providers.
AI tool adoption
60%
Of employees actively using enterprise AI tools
Around 60% of people are actively using enterprise AI tools as part of daily work.
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Guidance and risk preview
Management projects India's real GDP growth to moderate to around 6.7% in FY27, assuming global crude oil prices average $90 per barrel.
Ongoing conflict in West Asia could keep oil prices elevated, pressuring India's economy through higher energy import costs and potential moderatio...
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