What we do CARE Ratings Ltd is a leading Indian credit rating agency providing rating and grading services to corporates, investors, and financial institutions across diverse sectors. |
Founded in 1,993 |
Market share Second largest credit rating agency in India with a robust presence in capital markets and securitisation transactions. |
Problem solved Facilitates informed investment decisions by assessing credit risk and assisting capital raising through trustworthy credit ratings. |
Top clients or who we serve Serves corporates, banks, financial institutions, NBFCs, PSUs, SMEs across India and select global markets; B2B model. |
Key management Mehul Pandya, Managing Director & Group CEO; Revati Kasture, Executive Director & CEO of CareEdge Global. |
Our journey and innovations Incorporated in 1993, expanded globally with subsidiaries in Africa, Nepal, South Africa, and launched India’s first sovereign ratings. |
Where we operate India, Mauritius, Nepal, South Africa, parts of Africa, and international financial centers like GIFT City, Gujarat. |
Top products or what we offer Credit ratings (debt instruments, structured finance), grading services, ESG ratings, research reports, advisory, and analytics solutions. |
Top brands CARE Ratings, CareEdge Global (first Indian CRA with global sovereign ratings), CareEdge Analytics, CareEdge ESG Ratings. |
Raw materials needed - |
Raw materials supplier - |
Recurring vs cyclical contribution Revenue mostly recurring from rating and advisory assignments; scales with capital market activity. |
Our industry position Strong market position as a trusted rating agency with expanding global footprint and diverse service offerings. |
Financial highlights FY25 consolidated revenue Rs 402 crore (21% YoY growth), PAT Rs 137 crore; robust EBITDA margins around 40%. |
Geographical revenue split Majority revenue from India; growing contributions from subsidiaries in Africa, Nepal, South Africa, and global markets. |
Order book - |
Whats driving growth Increased demand for credit and ESG ratings, technological advancements, expansion into global scale ratings, and advisory services. |
Our future plans Expand global scale ratings, enhance AI-powered analytics, deepen ESG offerings, and broaden geographic reach in Africa and Asia. |
Our green promise Sustainability-led ESG rating initiatives, climate change impact assessments, and green finance advisory. |
Our people and values Focus on talent retention, leadership development, inclusion initiatives, and employee engagement programs. |
Key challenges ahead Navigating regulatory changes, market volatility, competitive pressures, and maintaining rating independence and data security. |
Interesting facts First Indian Credit Rating Agency to offer sovereign ratings for 39 countries globally via CareEdge Global IFSC. |
Risks and strategy Mitigating risks via technology upgrades, rigorous compliance, stakeholder engagement, and diversification of service offerings. |
