CARE Ratings Ltd Share Price – NSE  / BSE

Credit Rating Agencies, Small Cap

On a consolidated basis, profit before tax (PBT) stood at Rs 64.23 crore in Q2 FY25, up 28.3% year-on-year (YoY). EBITDA rose 33% YoY to Rs 55.72 crore during the period under review. EBITDA margin stood at 47% in Q2 FY25.

CARE Ratings' revenue from operations climbed 21% YoY to Rs 196.29 crore in the first half of 2024 (H1FY25). In H1FY25, the company's revenue from Ratings Business rose 19% YoY to Rs. 177.63 crore. Its revenue from Non-Ratings Business jumped 37% YoY to Rs. 18.66 crore.

The board declared an interim dividend of Rs 7 per share for the second quarter of FY25. The record date is set on 5 November 2024.

Commenting on the results for Q2 and H1FY25, Mehul Pandya, managing director & Group CEO of CareEdge, said: The company has shown good performance in ratings as well as non-rating businesses. Reflective of our commitment towards quality led growth, ratings business continued to show momentum in initial ratings of capital market instruments, securitisation and bank debt.

In H1FY25, the contribution of non-ratings business to total consolidated revenue from operations has improved to 9.5% even as the ratings business witnessed a strong growth of 19%.

We are proud to be the first rating agency from India to foray in the sovereign & global scale ratings, with the announcement of sovereign ratings of 39 countries at the launch event of CareEdge Global IFSC Ltd. Further, our step-down subsidiary in South Africa has also received the regulatory approval to offer credit ratings services, including sovereign ratings in that geography.

CareEdge Africa and CareEdge Nepal reported robust growth in their business during the period. CareEdge ESG is on the path to be a catalyst for change towards sustainable future with the release of its first ESG rating recently. CareEdge Analytics and CareEdge Advisory continued to improve their performance during the period.

Overall, CareEdge is well poised for continued success and growth, driven by our strategic pillars and an unyielding commitment to excellence.

CARE Ratings is India's second-largest rating agency, with a credible track record of rating companies across diverse sectors and holding leadership positions in high-growth sectors such as BFSI and Infra. The wholly-owned subsidiaries of CareEdge Ratings are (I) CARE Analytics & Advisory (previously known as CARE Risk Solutions), (II) CARE ESG Ratings, (previously known as CARE Advisory Research and Training and (III) CareEdge Global IFSC. CareEdge Ratings' other international subsidiary entities include CARE Ratings (Africa) in Mauritius, CARE Ratings South Africa, and CARE Ratings Nepal.

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Piramal Pharma Ltd, Amber Enterprises India Ltd, Sona BLW Precision Forgings Ltd and Aster DM Healthcare Ltd are among the other gainers in the BSE's 'A' group today, 24 October 2024.

CARE Ratings Ltd soared 20.00% to Rs 1409.15 at 11:47 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 75822 shares were traded on the counter so far as against the average daily volumes of 5877 shares in the past one month.

Piramal Pharma Ltd surged 13.89% to Rs 246.8. The stock was the second biggest gainer in 'A' group. On the BSE, 14.91 lakh shares were traded on the counter so far as against the average daily volumes of 3.36 lakh shares in the past one month.

Amber Enterprises India Ltd spiked 10.20% to Rs 7052. The stock was the third biggest gainer in 'A' group. On the BSE, 53913 shares were traded on the counter so far as against the average daily volumes of 27338 shares in the past one month.

Sona BLW Precision Forgings Ltd exploded 9.85% to Rs 705.75. The stock was the fourth biggest gainer in 'A' group. On the BSE, 2.65 lakh shares were traded on the counter so far as against the average daily volumes of 41065 shares in the past one month.

Aster DM Healthcare Ltd advanced 7.30% to Rs 431.65. The stock was the fifth biggest gainer in 'A' group. On the BSE, 7.03 lakh shares were traded on the counter so far as against the average daily volumes of 39583 shares in the past one month.

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Net profit of CARE Ratings rose 31.05% to Rs 46.09 crore in the quarter ended September 2024 as against Rs 35.17 crore during the previous quarter ended September 2023. Sales rose 21.70% to Rs 117.37 crore in the quarter ended September 2024 as against Rs 96.44 crore during the previous quarter ended September 2023.

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CARE Ratings announced that the Board of Directors of the Company at its meeting held on 23 October 2024, inter alia, have recommended the interim dividend of Rs 7 per equity Share (i.e. 70%) , subject to the approval of the shareholders.

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