ICRA Limited — PPTs, 28-10-2025: Investor Presentation

ICRA reported strong financial performance for Q2 & H1 FY2026. Q2 revenue grew 8.3% YoY to 136.6 Cr, with profit after tax surging 29.4% YoY to 48.0 Cr. H1 revenue increased 8.4% YoY to 261.1 Cr, and PAT rose 24.4% YoY to 90.8 Cr. This growth was fueled by robust performance in its Ratings and Research & Analytics segments, driven by new client wins and expanded offerings.

A strategic highlight was the acquisition of a 98.75% stake in Fintellix for ₹245.64 Cr. This move aims to solidify ICRA's leadership in risk analytics, deliver unified solutions, and expand into new geographies, leveraging Fintellix's talent for domestic growth. Recent developments also include the successful launch of new Risk Management solutions and Customized Fixed Income Indices.

The outlook suggests domestic consumption and government spending will support growth, though global uncertainties like geopolitical tensions and US tariffs could impact exports and private investments. ICRA anticipates an RBI rate cut in December 2025. Securitisation volumes are projected at ~₹2.5 trillion for FY2026, while bond issuances and bank credit remain sensitive to interest rate shifts. The company plans to focus on AI-led solutions and integrated risk management offerings to enhance its market position.