CARE Ratings Reports ₹173 Crore Profit for FY26, Recommends ₹14 Dividend

CARE Ratings Ltd announced its audited financial results for the fiscal year ended March 31, 2026. The company reported a consolidated net profit of ₹173.70 crore on revenue of ₹473.07 crore.

The Board of Directors has recommended a final dividend of ₹14 per equity share, subject to shareholder approval at the upcoming Annual General Meeting (AGM).

Corporate Actions

In corporate governance matters, BSR & Co. LLP has been re-appointed as the statutory auditor for a five-year term, providing continuity in financial oversight through FY31. The board also approved the grant of 55,000 stock options to eligible employees.

Subsidiary Stake Sale Delays

Discussions for divesting a 26% stake in its subsidiary, CareEdge Global IFSC, are ongoing but have faced significant delays. These delays are attributed to complexities in legal documentation and negotiations involving entities such as the State Bank of India and NSE IFSC. The resolution of these talks is crucial for the subsidiary's future capital structure and strategic direction.

Peer Overview

CARE Ratings operates in the Indian credit rating sector alongside major players like CRISIL and ICRA. For the fiscal year 2023, CRISIL reported revenues of ₹2,830 crore and a profit of ₹606 crore. ICRA, part of Moody's, recorded revenues of ₹1,251 crore and a profit of ₹283 crore during the same period.

Next Steps

Shareholders will vote on the dividend recommendation and other proposals at the 33rd Annual General Meeting, scheduled for July 3, 2026. Developments regarding the subsidiary stake sale will also be closely monitored.