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CARE Ratings Limited (CARERATING) Report Analysis

Corporate Events

Neutral

CARE Ratings Limited - Shareholder/Analyst Call

2022-11-29 12:41:00

CARE Ratings Limited - Shareholder/Analyst Call

Negative

CARE Ratings Limited Announces Resignation of S...

2022-11-24 14:11:00

CARE Ratings Limited announced that Ms. Shubhangi Soman Non-Executive Non-Independent Director of the Company, vide letter dated November 24, ...

Neutral

CARE Ratings Limited - Shareholder/Analyst Call

2022-11-23 12:34:00

CARE Ratings Limited - Shareholder/Analyst Call

Negative

CARE Ratings Limited Approves Appointment of Gu...

2022-11-21 13:00:00

CARE Ratings Limited Board of Directors have approved appointment of Mr. Gurumoorthy Mahalingam as an Additional Director (designated as Non-e...

Neutral

CARE Ratings Limited - Shareholder/Analyst Call

2022-11-10 12:43:00

CARE Ratings Limited - Shareholder/Analyst Call

Neutral

CARE Ratings Limited to Report Q2, 2023 Results...

2022-10-20 13:25:00

CARE Ratings Limited announced that they will report Q2, 2023 results on Nov 08, 2022

Neutral

CARE Ratings Limited, Board Meeting, Nov 08, 2022

2022-10-20 13:25:00

CARE Ratings Limited, Board Meeting, Nov 08, 2022, at 14:30 Indian Standard Time. Agenda: To consider and approve the Unaudited (Standalone & ...

Negative

CARE Ratings Limited Announces Reconstitution o...

2022-10-08 12:22:00

CARE Ratings Limited announced that the Board of Directors of the company vide resolution passed on October 08, 2022 has reconstituted Rating ...

Neutral

CARE Ratings Limited - Shareholder/Analyst Call

2022-09-28 12:22:00

CARE Ratings Limited - Shareholder/Analyst Call

Positive

Care Ratings Limited Confirms Interim and Final...

2022-09-26 12:29:00

Care Ratings Limited at its AGM held on September 26, 2022, confirmed payment of interim dividend of INR 7 per equity share and declaration of...

Neutral

CARE Ratings Limited - Shareholder/Analyst Call

2022-09-13 12:39:00

CARE Ratings Limited - Shareholder/Analyst Call

Negative

Care Ratings Limited Announces Resignation of A...

2022-09-05 10:17:00

CARE Ratings Limited informed that Mr. Ananth Narayan Gopalakrishnan (DIN: 05250681), Non-Executive Independent Director of the Company, vide ...

Positive

CARE Ratings Limited, 10.0 (INR), Cash Dividend...

2022-08-01 19:10:00

CARE Ratings Limited, 10.0 (INR), Cash Dividend, Sep-13-2022

Neutral

CARE Ratings Limited - Shareholder/Analyst Call

2022-07-29 16:37:00

AGM

Neutral

CARE Ratings Limited, Annual General Meeting, S...

2022-07-29 16:37:00

CARE Ratings Limited, Annual General Meeting, Sep 26, 2022, at 15:00 Indian Standard Time. Agenda: To consider the Audited Standalone Financia...

Neutral

CARE Ratings Limited to Report Q1, 2023 Results...

2022-07-21 10:47:00

CARE Ratings Limited announced that they will report Q1, 2023 results on Jul 29, 2022

Neutral

CARE Ratings Limited, Board Meeting, Jul 29, 2022

2022-07-21 10:47:00

CARE Ratings Limited, Board Meeting, Jul 29, 2022, at 15:30 Indian Standard Time. Agenda: To consider and approve the Unaudited (Standalone & ...

Positive

CARE Ratings Limited (NSEI:CARERATING) announce...

2022-07-20 15:20:00

CARE Ratings Limited (NSEI:CARERATING) announces a share repurchase program. Under the program, the company will repurchase up to 2,368,000 sh...

Positive

CARE Ratings Limited authorizes a Buyback Plan.

2022-07-20 00:00:00

The Board of Directors of CARE Ratings Limited has authorized a buyback plan on July 20, 2022.

Neutral

CARE Ratings Limited, Board Meeting, Jul 20, 2022

2022-07-12 12:54:00

CARE Ratings Limited, Board Meeting, Jul 20, 2022, at 13:20 Indian Standard Time. Agenda: To consider a proposal for buyback of equity shares ...

Positive

CARE Ratings Limited’s Board intends to launch ...

2022-07-12 00:00:00

On July 12, 2022, the company announced that its Board of Directors will consider a proposal for share repurchase program at its Board Meeting...

Neutral

CARE Ratings Limited - Shareholder/Analyst Call

2022-06-08 09:33:00

CARE Ratings Limited - Shareholder/Analyst Call

Negative

Care Ratings Limited Recommends Final Dividend ...

2022-05-28 16:23:00

CARE Ratings Limited announced that the Board of Directors of the Company at their meeting held on Saturday, May 28, 2022 recommended a final ...

Neutral

CARE Ratings Limited, Board Meeting, May 28, 2022

2022-05-28 15:09:00

CARE Ratings Limited, Board Meeting, May 28, 2022. Agenda: To consider the change in composition of the Committees of the Board with immediate...

Neutral

CARE Ratings Limited, Q4 2022 Earnings Call, Ju...

2022-05-25 12:08:00

CARE Ratings Limited, Q4 2022 Earnings Call, Jun 01, 2022

Neutral

CARE Ratings Limited to Report Q4, 2022 Results...

2022-05-17 11:25:00

CARE Ratings Limited announced that they will report Q4, 2022 results on May 28, 2022

Neutral

CARE Ratings Limited, Board Meeting, May 28, 2022

2022-05-17 11:25:00

CARE Ratings Limited, Board Meeting, May 28, 2022, at 14:30 Indian Standard Time. Agenda: To consider and approve the audited (standalone & co...

Neutral

CARE Ratings Limited, Board Meeting, Apr 26, 2022

2022-04-26 16:46:00

CARE Ratings Limited, Board Meeting, Apr 26, 2022. Agenda: To consider the resignation of Mr. Ajay Mahajan (DIN: 05108777) as the Managing Dir...

Negative

Care Ratings Limited Announces Resignation of A...

2022-04-26 16:46:00

CARE Ratings Limited at their meeting held on April 26, 2022, considered and accepted the resignation of Mr. Ajay Mahajan as the Managing Dire...

Negative

CARE Ratings Limited Announces CEO Changes

2022-04-26 16:46:00

CARE Ratings Limited at their board meeting held on April 26, 2022, considered and accepted the resignation of Mr. Ajay Mahajan as the Managin...

Neutral

CARE Ratings Limited, Board Meeting, Apr 11, 2022

2022-04-12 12:38:00

CARE Ratings Limited, Board Meeting, Apr 11, 2022. Agenda: To discuss the Company Update.

Neutral

CARE Ratings Limited Presents at Edelweiss Indi...

2022-02-07 16:57:00

CARE Ratings Limited Presents at Edelweiss India Conference 2022 - India 2025: The New Edge, Feb-07-2022 .

Neutral

Edelweiss Financial Services Limited, Edelweiss...

2022-02-07 16:16:00

Edelweiss Financial Services Limited, Edelweiss India Conference 2022 - India 2025: The New Edge, Feb 07, 2022 through Feb 11, 2022.

Neutral

CARE Ratings Limited - Shareholder/Analyst Call

2022-02-07 07:40:00

CARE Ratings Limited - Shareholder/Analyst Call

Neutral

CARE Ratings Limited, Q3 2022 Earnings Call, Fe...

2022-01-31 12:05:00

CARE Ratings Limited, Q3 2022 Earnings Call, Feb 02, 2022

Negative

CARE Ratings Limited Appoints Shubhangi Soman a...

2022-01-28 15:56:00

The Board of Directors of the CARE Ratings Limited at their meeting held on January 28, 2022, have approved appointment of Ms. Shubhangi Soman...

Neutral

CARE Ratings Limited, Board Meeting, Jan 28, 2022

2022-01-28 05:03:00

CARE Ratings Limited, Board Meeting, Jan 28, 2022, at 14:30 Indian Standard Time. Agenda: To consider Interim Dividend; and to consider Quarte...

Neutral

CARE Ratings Limited - Shareholder/Analyst Call

2021-12-24 08:15:00

CARE Ratings Limited - Shareholder/Analyst Call

Neutral

CARE Ratings Limited - Shareholder/Analyst Call

2021-12-01 14:00:00

CARE Ratings Limited - Shareholder/Analyst Call

Neutral

CARE Ratings Limited - Shareholder/Analyst Call

2021-12-01 14:00:00

CARE Ratings Limited - Shareholder/Analyst Call

Neutral

CARE Ratings Limited - Shareholder/Analyst Call

2022-11-29 12:41:00

CARE Ratings Limited - Shareholder/Analyst Call

Negative

CARE Ratings Limited Announces Resignation of Shubhangi Soman as Non-Executive Non-Independent Director

2022-11-24 14:11:00

CARE Ratings Limited announced that Ms. Shubhangi Soman Non-Executive Non-Independent Director of the Company, vide letter dated November 24, 2022, has tendered her resignation from the Board of the Company with immediate effect, due to pre-occupation and other engagements.

Neutral

CARE Ratings Limited - Shareholder/Analyst Call

2022-11-23 12:34:00

CARE Ratings Limited - Shareholder/Analyst Call

Negative

CARE Ratings Limited Approves Appointment of Gurumoorthy Mahalingam as Additional Director, Effective November 21, 2022

2022-11-21 13:00:00

CARE Ratings Limited Board of Directors have approved appointment of Mr. Gurumoorthy Mahalingam as an Additional Director (designated as Non-executive Independent Director) of the Company effective November 21, 2022. pursuant to the recommendation of the Nomination and Remuneration Committee, Effective November 21, 2022, to hold office upto the upcoming Annual General Meeting of the Company or till 3 months from the date of his appointment by the Board of Directors, whichever is earlier. Mr. Mahalingam has had a professional career of more than four decades spanning across the financial sector regulators, Reserve Bank of India (RBI) and Securities & Exchange Board of India (SEBI). He has taken on varied roles in RBI encompassing financial market development, regulation and operations, foreign exchange reserves management, debt management and regulation and supervision of banks. He was the Chief Dealer and Executive Director in-charge of forex market interventions as well as management of forex reserves of the country and rupee liquidity policy and operations. In the above roles, he was instrumental in formulating regulatory policies in respect of financial markets and conduct of market operations of RBI. His experience spans across most difficult and volatile times in the financial markets closely involved in giving shape to foreign exchange policies and monetary policy implementation. Mr. Mahalingam began his career as a commercial banker with the State Bank of India in 1978 after finishing his Masters in Statistics and Operations Research from IIT Kanpur. He is also an MBA in International Banking and Finance from the Birmingham Business School in the UK.

Neutral

CARE Ratings Limited - Shareholder/Analyst Call

2022-11-10 12:43:00

CARE Ratings Limited - Shareholder/Analyst Call

Neutral

CARE Ratings Limited to Report Q2, 2023 Results on Nov 08, 2022

2022-10-20 13:25:00

CARE Ratings Limited announced that they will report Q2, 2023 results on Nov 08, 2022

Neutral

CARE Ratings Limited, Board Meeting, Nov 08, 2022

2022-10-20 13:25:00

CARE Ratings Limited, Board Meeting, Nov 08, 2022, at 14:30 Indian Standard Time. Agenda: To consider and approve the Unaudited (Standalone & Consolidated) Financial Results of the Company for the quarter and half year ended September 30, 2022.

Negative

CARE Ratings Limited Announces Reconstitution of Rating Sub-Committee

2022-10-08 12:22:00

CARE Ratings Limited announced that the Board of Directors of the company vide resolution passed on October 08, 2022 has reconstituted Rating Sub-Committee of the Board of Directors of the Company as under: Mr. Najib Shah, Mr. Adesh Kumar Gupta and Mr. V. Chandrasekaran as members of Rating Sub-Committee.

Neutral

CARE Ratings Limited - Shareholder/Analyst Call

2022-09-28 12:22:00

CARE Ratings Limited - Shareholder/Analyst Call

Positive

Care Ratings Limited Confirms Interim and Final Dividend for the Financial Year 2021-22

2022-09-26 12:29:00

Care Ratings Limited at its AGM held on September 26, 2022, confirmed payment of interim dividend of INR 7 per equity share and declaration of final dividend of INR 10 per equity share for the financial year 2021-22.

Neutral

CARE Ratings Limited - Shareholder/Analyst Call

2022-09-13 12:39:00

CARE Ratings Limited - Shareholder/Analyst Call

Negative

Care Ratings Limited Announces Resignation of Ananth Narayan Gopalakrishnan as Non-Executive Independent Director of the Company

2022-09-05 10:17:00

CARE Ratings Limited informed that Mr. Ananth Narayan Gopalakrishnan (DIN: 05250681), Non-Executive Independent Director of the Company, vide letter dated September 5, 2022, has tendered his resignation from the Board of the Company from the closure of business hours of September 5, 2022, pursuant to his appointment as Whole-time Member of Securities and Exchange Board of India. The resignation letter with reason as indicated above is enclosed. Mr. Ananth Narayan Gopalakrishnan in his letter has also confirmed that there is no other reason for his resignation other than the one mentioned in the resignation letter.

Positive

CARE Ratings Limited, 10.0 (INR), Cash Dividend, Sep-13-2022

2022-08-01 19:10:00

CARE Ratings Limited, 10.0 (INR), Cash Dividend, Sep-13-2022

Neutral

CARE Ratings Limited - Shareholder/Analyst Call

2022-07-29 16:37:00

AGM

Neutral

CARE Ratings Limited, Annual General Meeting, Sep 26, 2022

2022-07-29 16:37:00

CARE Ratings Limited, Annual General Meeting, Sep 26, 2022, at 15:00 Indian Standard Time. Agenda: To consider the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2022, together with the Reports of the Board of Directors and the Auditor's thereon; to confirm the payment of interim dividend of INR 7/- per equity share and to declare a final dividend of INR 10/- per equity share for the financial year 2021-22; to appoint a director in place of Mr. V. Chandrasekaran (DIN:03126243), who retires by rotation and being eligible, offers himself for re-appointment; and to consider such other business issues.

Neutral

CARE Ratings Limited to Report Q1, 2023 Results on Jul 29, 2022

2022-07-21 10:47:00

CARE Ratings Limited announced that they will report Q1, 2023 results on Jul 29, 2022

Neutral

CARE Ratings Limited, Board Meeting, Jul 29, 2022

2022-07-21 10:47:00

CARE Ratings Limited, Board Meeting, Jul 29, 2022, at 15:30 Indian Standard Time. Agenda: To consider and approve the Unaudited (Standalone & Consolidated) Financial Results of the Company for the quarter ended June 30, 2022; to consider Approved re-appointment of Directors; to consider AGM; and to consider other matters.

Positive

CARE Ratings Limited (NSEI:CARERATING) announces an Equity Buyback for 2,368,000 shares, representing 7.99% for INR 1,219.52 million.

2022-07-20 15:20:00

CARE Ratings Limited (NSEI:CARERATING) announces a share repurchase program. Under the program, the company will repurchase up to 2,368,000 shares, representing 7.99% of its share capital, for INR 1,219.52 million. The purpose of the plan is to return surplus funds to the shareholders. The buyback will be funded by free reserves and securities premium of the company. and/or such other source as may be permitted by the Buyback regulation act or the Companies act. The shares will be repurchased at a price of INR 515 per share. The buyback is subject to the approval of the shareholders by means of a special resolution through postal ballot. The record date for buyback is September 14, 2022. The buyback program is valid till December 1, 2022. As of July 15, 2022, the company had 29,648,880 shares in issue.

Positive

CARE Ratings Limited authorizes a Buyback Plan.

2022-07-20 00:00:00

The Board of Directors of CARE Ratings Limited has authorized a buyback plan on July 20, 2022.

Neutral

CARE Ratings Limited, Board Meeting, Jul 20, 2022

2022-07-12 12:54:00

CARE Ratings Limited, Board Meeting, Jul 20, 2022, at 13:20 Indian Standard Time. Agenda: To consider a proposal for buyback of equity shares of the Company.

Positive

CARE Ratings Limited’s Board intends to launch an Equity Buyback.

2022-07-12 00:00:00

On July 12, 2022, the company announced that its Board of Directors will consider a proposal for share repurchase program at its Board Meeting to be held on July 20, 2022. Under the program, the company will repurchase its own shares.

Neutral

CARE Ratings Limited - Shareholder/Analyst Call

2022-06-08 09:33:00

CARE Ratings Limited - Shareholder/Analyst Call

Negative

Care Ratings Limited Recommends Final Dividend for the Financial Year 2021 22

2022-05-28 16:23:00

CARE Ratings Limited announced that the Board of Directors of the Company at their meeting held on Saturday, May 28, 2022 recommended a final dividend of INR 10 (Rupees Ten only) per equity share of face value of INR 10 (Rupees Ten only) each for the Financial Year 2021 22. The said dividend, upon approval by the shareholders, will be paid to shareholders within 30 days from the date of the Annual General Meeting.

Neutral

CARE Ratings Limited, Board Meeting, May 28, 2022

2022-05-28 15:09:00

CARE Ratings Limited, Board Meeting, May 28, 2022. Agenda: To consider the change in composition of the Committees of the Board with immediate effect; and to consider the recommendation of Nomination and Remuneration Committee of the Company, the Board of Directors approved grant of 25,000 stock options to the eligible employee, under 'CARE Employee Stock Option Scheme 2020' of the Company as approved by the shareholders at Annual General Meeting held on September 08, 2020.

Neutral

CARE Ratings Limited, Q4 2022 Earnings Call, Jun 01, 2022

2022-05-25 12:08:00

CARE Ratings Limited, Q4 2022 Earnings Call, Jun 01, 2022

Neutral

CARE Ratings Limited to Report Q4, 2022 Results on May 28, 2022

2022-05-17 11:25:00

CARE Ratings Limited announced that they will report Q4, 2022 results on May 28, 2022

Neutral

CARE Ratings Limited, Board Meeting, May 28, 2022

2022-05-17 11:25:00

CARE Ratings Limited, Board Meeting, May 28, 2022, at 14:30 Indian Standard Time. Agenda: To consider and approve the audited (standalone & consolidated) financial results of the company for the quarter and financial year ended March 31, 2022; and to recommend Dividend, if any for the financial year 2021-22.

Neutral

CARE Ratings Limited, Board Meeting, Apr 26, 2022

2022-04-26 16:46:00

CARE Ratings Limited, Board Meeting, Apr 26, 2022. Agenda: To consider the resignation of Mr. Ajay Mahajan (DIN: 05108777) as the Managing Director and Chief Executive Officer of the Company due to personal reasons.

Negative

Care Ratings Limited Announces Resignation of Ajay Mahajan as the Managing Director

2022-04-26 16:46:00

CARE Ratings Limited at their meeting held on April 26, 2022, considered and accepted the resignation of Mr. Ajay Mahajan as the Managing Director and Chief Executive Officer of the Company due to personal reasons. Accordingly, Mr. Ajay Mahajan will be relieved from the services as the Managing Director and Chief Executive Officer of the Company effective from the close of business hours on May 31, 2022. Consequently, he shall also cease to be Key Managerial Personnel of the Company in terms of Section 203 of the Companies Act, 2013.

Negative

CARE Ratings Limited Announces CEO Changes

2022-04-26 16:46:00

CARE Ratings Limited at their board meeting held on April 26, 2022, considered and accepted the resignation of Mr. Ajay Mahajan as the Managing Director and Chief Executive Officer of the Company due to personal reasons. Accordingly, Mr. Ajay Mahajan will be relieved from the services as the Managing Director and Chief Executive Officer of the Company effective from the close of business hours on May 31, 2022. Consequently, he shall also cease to be Key Managerial Personnel of the Company in terms of Section 203 of the Companies Act, 2013. The Board of Directors of CARE has decided to appoint Mr. Mehul Pandya, Executive Director – Business Development as interim Chief Executive Officer of the Company with effect from June 01, 2022.

Neutral

CARE Ratings Limited, Board Meeting, Apr 11, 2022

2022-04-12 12:38:00

CARE Ratings Limited, Board Meeting, Apr 11, 2022. Agenda: To discuss the Company Update.

Neutral

CARE Ratings Limited Presents at Edelweiss India Conference 2022 - India 2025: The New Edge, Feb-07-2022

2022-02-07 16:57:00

CARE Ratings Limited Presents at Edelweiss India Conference 2022 - India 2025: The New Edge, Feb-07-2022 .

Neutral

Edelweiss Financial Services Limited, Edelweiss India Conference 2022 - India 2025: the New Edge, Feb 07, 2022 through Feb 11, 2022

2022-02-07 16:16:00

Edelweiss Financial Services Limited, Edelweiss India Conference 2022 - India 2025: The New Edge, Feb 07, 2022 through Feb 11, 2022.

Neutral

CARE Ratings Limited - Shareholder/Analyst Call

2022-02-07 07:40:00

CARE Ratings Limited - Shareholder/Analyst Call

Neutral

CARE Ratings Limited, Q3 2022 Earnings Call, Feb 02, 2022

2022-01-31 12:05:00

CARE Ratings Limited, Q3 2022 Earnings Call, Feb 02, 2022

Negative

CARE Ratings Limited Appoints Shubhangi Soman as an Additional Director

2022-01-28 15:56:00

The Board of Directors of the CARE Ratings Limited at their meeting held on January 28, 2022, have approved appointment of Ms. Shubhangi Soman as an Additional Director (Non-Executive Non-Independent Director) of the Company based on the representation letter received from UC and recommendation of Nomination and Remuneration Committee. The said appointment is subject to approval by the Members of the Company. Ms. Shubhangi Soman is a qualified Chartered Accountant (CA) and at present holds post of Executive Director (F & A) & CFO of LIC.

Neutral

CARE Ratings Limited, Board Meeting, Jan 28, 2022

2022-01-28 05:03:00

CARE Ratings Limited, Board Meeting, Jan 28, 2022, at 14:30 Indian Standard Time. Agenda: To consider Interim Dividend; and to consider Quarterly Results.

Neutral

CARE Ratings Limited - Shareholder/Analyst Call

2021-12-24 08:15:00

CARE Ratings Limited - Shareholder/Analyst Call

Neutral

CARE Ratings Limited - Shareholder/Analyst Call

2021-12-01 14:00:00

CARE Ratings Limited - Shareholder/Analyst Call

Neutral

CARE Ratings Limited - Shareholder/Analyst Call

2021-12-01 14:00:00

CARE Ratings Limited - Shareholder/Analyst Call

Fundamental Summary

CARE Ratings published its Q1 report on 2017-07-07 with positive results, but no significant factors particularly remarkable relative to its peers. Its income and value factors appear positive and give support for optimism regarding the likelihood of continued positive performance. Therefore, CARE Ratings received an overall score of 71, translating into a HOLD ranking.

CARE Ratings reported earnings results for the second quarter and six months ended September 30, 2022. For the second quarter, the company reported sales was INR 847.65 million compared to INR 763.86 million a year ago. Revenue was INR 932.23 million compared to INR 822.85 million a year ago. Net income was INR 343.1 million compared to INR 266.17 million a year ago. Basic earnings per share from continuing operations was INR 11.57 compared to INR 9.03 a year ago. Diluted earnings per share from continuing operations was INR 11.57 compared to INR 8.63 a year ago.For the six months, sales was INR 1,393.33 million compared to INR 1,255.86 million a year ago. Revenue was INR 1,553.15 million compared to INR 1,388.07 million a year ago. Net income was INR 479.76 million compared to INR 376.6 million a year ago. Basic earnings per share from continuing operations was INR 16.18 compared to INR 12.78 a year ago. Diluted earnings per share from continuing operations was INR 16.18 compared to INR 12.52 a year ago.

Sector Overview

CARE Ratings is included in the Capital Markets according to GICS (global industry classification standard). The Capital Markets industry is part of the Financials sector. It includes companies that engage in Diversified Capital Markets, Investment Banking & Brokerage, Asset Management & Custody Banks. CARE Ratings's industry and sector affiliation are expected to positively boost their relative likelihood to overperform the market looking forward, as they should benefit significantly from the macroeconomic environment we see now.

Fundamental Highlights


Parameter Value Change Score
Assets 5.5B 10.0% 58
Liabilities 573.1M -39.0% 44
Price to Book 10.1 49.4% 84
Cash & Equivalents 141.0M 10.4% 63
Equity 5.0B 21.2% 50
EBITDA 1.8B 5.1% 71
Total Revenues 2.9B 2.9% 61
Parameter Value Change Score
Return on Equity 32.6 4.6% 62
Net Cashflow 11.9M 263.1% 68
Capital Expenditure -9.1M 67.9% 82
Asset Turnover 0.5 -7.6% 87
Free Cashflow Per Share 40.1 12.6% 66
* All values are TTM

The below chart reflects CARE Ratings's birds-eye view on its performance with respect to its peers, the company's fillings as reported or to a similar industry, market cap, and country of origin. While CARE Ratings's peer average final assessment score stands on 73, CARE Ratings's score is 71.

  •  CARERATING
  •  Peers average
Name Market Cap Balance Sheet Income Statement Cash Flow Rating Final Assessment mc_sort Hidden
HDFC Asset Management Company Limited 466.5B 79 66 71
Hold
77
77 0 1
CRISIL Limited 213.7B 76 82 72
Buy
81
81 1 1
ICICI Securities Limited 170.3B 90 59 49
Hold
76
76 2 1
Nippon Life India Asset Management Limited 169.0B 77 68 76
Hold
77
77 3 1
IIFL Wealth Management Limited 162.6B 59 89 50
Hold
69
69 4 1
Central Depository Services (India) Limited 129.4B 79 81 55
Buy
83
83 5 1
Aditya Birla Sun Life AMC Limited 125.0B 86 60 73
Buy
79
79 6 1
Motilal Oswal Financial Services Limited 98.0B 86 75 81
Strong Buy
89
89 7 1
Multi Commodity Exchange of India Limited 79.7B 70 48 76
Hold
62
62 8 1
BSE Limited 78.2B 79 71 83
Buy
83
83 9 1
Edelweiss Financial Services Limited 60.0B 81 65 86
Hold
76
76 10 1
Prudent Corporate Advisory Services Limited 36.8B 89 69 52
Buy
79
79 11 1
IIFL Securities Limited 21.1B 84 70 74
Buy
83
83 12 1
Angel One Limited 133.3B 88 69 76
Buy
84
84 13 1
Indian Energy Exchange Limited 132.4B 94 77 80
Strong Buy
99
99 14 1
IDFC Limited 131.1B 74 48 68
Hold
63
63 15 1
Tata Investment Corporation Limited 118.8B 90 61 86
Buy
84
84 16 1
UTI Asset Management Company Limited 99.2B 67 60 71
Hold
67
67 17 1
JM Financial Limited 71.1B 77 69 78
Buy
79
79 18 1
JSW Holdings Limited 47.4B 87 64 61
Buy
79
79 19 1
Bengal & Assam Company Limited 42.6B 81 69 80
Buy
80
80 20 1
ICRA Limited 42.4B 73 51 66
Hold
64
64 21 1
Authum Investment & Infrastructure Limited 40.9B 57 72 66
Hold
63
63 22 1
Share India Securities Limited 38.9B 82 76 66
Buy
81
81 23 1
Dhani Services Limited 29.2B 65 62 74
Hold
64
64 24 1
Choice International Limited 26.6B 66 74 66
Hold
70
70 25 1

Macro Environment

Negative
58

Typically, the stock market in India will react to recent economic events, as well as be influenced by the sentiment in other major economies around the world, such as the United States, European Union, and China. Our assessment is that these two events may influence global market sentiment. On the negative side we have the tensions between taiwan and china, and on the positive side we have the end of COVID-19 pandemic.

Positive end of COVID-19 pandemic

The World Health Organization issued six policy briefs outlining essential steps governments could take to stop the pandemic. The briefings, which are based on evidence and experience from the previous 32 months, provide guidance on how to save lives, protect health systems, and minimize social and economic disruption.

Negative tensions between taiwan and china

The tensions between Taiwan and China have spiked following Nancy Pelosi's visit to Taipei. China staged war games near Taiwan to express its anger at what it saw as stepped-up U.S. support for the island Beijing views as sovereign Chinese territory. Because Taiwan produces the majority of the world's semiconductors, which are used in every electronic device today, a war between China and Taiwan might be catastrophic for the global economy.

Besides the events we mentioned, there are also specific events related to the Diversified Financials industry of which CARE Ratings Limited is a part. As a result, we believe that the rising interest rate is a positive event that will continue to support the industry in the future, whereas the rising inflation may cloud the sector's shares.

Positive rising interest rate

From a historical point of view, the finance sector functions well when interest rates are rising, mainly due to the increase in loan repayments from lenders. Also, insurers often reinvest policyholder premiums into bond instruments, allowing them to profit when Treasury yields increase.

Negative rising inflation

The sudden increase in inflation is generally regarded as the most painful since it takes companies several quarters to pass on higher input costs to consumers. Historically, companies traded in the Diversified Financials industry have been hit by high inflation times due to increased operating expenses and decreased revenues.

In our analysis of the current macro environment, as well as the potential risks that could specifically affect CARE Ratings Limited stock, we concluded that sentiment was overwhelmingly negative and may lead to short-term price declines. Therefore, we ranked CARE Ratings Limited macro environment with a score of 58.

Technical Analysis

When trying to optimize the timing of an investment, it's critical to analyze whether the stock looks overbought or oversold, and in which direction the momentum is moving. CARE Ratings's stock is now priced above its 5-day, 50-day, and 200-day moving average, while its MACD (moving average convergence divergence) indicates that the stock's price movement momentum is strengthening. Historically, this is a positive setup in the near, medium, and long-term. In particular, many institutional investors keep close watch of the 200-day moving average. Meanwhile, looking at the Stochastic Oscillator and RSI (relative strength index), CARE Ratings's stock doesn't strongly signal being overbought or oversold. Overall, these technical indicators signal positive upward momentum. Therefore, this stock received a cumulative TA (technical analysis) score of 73.

Bullish 73
Close Price 549.2
52W Low 405.25
52W High 640.7
5D MA 546.23
50D MA 513.89
200D MA 489.98
MACD 10.42
RSI 52.14
STOCH 84.32

Balance Sheet Analysis

While the critical metrics for CARE Ratings's balance sheet were not overwhelmingly positive, nonetheless, CARE Ratings's leadership seems to be consistently making smart decisions related to managing their balance sheet. CARE Ratings publishes impressive results related to book value factors in this report. Specifically, price to book ratio (P/B) now sits at 10.1 and represents a 49.4% change from the previous report. Their industry-leading book value factors momentum reinforces an expectation for future positive momentum for their stock price going forward. Therefore, its book value factors earned a score of 84. Also, CARE Ratings did a great job related to cash and cash equivalents this period, which stood at 141.0M, representing a 10.4% change from the previous filing. This performance is significantly more impressive than its peers and competitors. It suggests that their stock price has room to grow to reflect its actual intrinsic value. Consequently, their cash and cash equivalents movement received a grade of 63. That said, one metric, Liabilities, stood out as particularly concerning. In terms of liabilities, CARE Ratings published uninspiring results. Their reported liabilities were 573.1M, representing a -39.0% change from the previous report. These liabilities metrics show that management has been unsuccessful in encouraging healthy growth while managing liabilities. Therefore, we rated their liabilities movement with a score of 44. Therefore, their balance sheet earned a grade of 71.

Parameter Value Change Score
Assets 5.5B 10.0% 58
Liabilities 573.1M -39.0% 44
Price to Book 10.1 49.4% 84
Cash & Equivalents 141.0M 10.4% 63
Equity 5.0B 21.2% 50
* All values are TTM

The below chart describes CARE Ratings's performance as reflected on its balance sheet with respect to its peers. While CARE Ratings received a balance sheet score of 71, the average of its peers stands on 72.

  •  CARERATING
  •  Peers average
Name Market Cap Liabilities Movement Asset Change Equity/Intangibles Adjustments Cash & Equivalents Book Value Momentum Balance Sheet mc_sort Hidden
HDFC Asset Management Company Limited 466.5B 75.0 53.0 51.0 74.0 83.0 79 0 1
CRISIL Limited 213.7B 65.0 55.0 49.0 71.0 86.0 76 1 1
ICICI Securities Limited 170.3B 93.0 43.0 49.0 95.0 88.0 90 2 1
Nippon Life India Asset Management Limited 169.0B 74.0 56.0 47.0 86.0 79.0 77 3 1
IIFL Wealth Management Limited 162.6B 45.0 88.0 63.0 41.0 68.0 59 4 1
Central Depository Services (India) Limited 129.4B 78.0 52.0 73.0 83.0 78.0 79 5 1
Aditya Birla Sun Life AMC Limited 125.0B 43.0 51.0 94.0 91.0 91.0 86 6 1
Motilal Oswal Financial Services Limited 98.0B 85.0 53.0 48.0 80.0 88.0 86 7 1
Multi Commodity Exchange of India Limited 79.7B 85.0 75.0 73.0 41.0 61.0 70 8 1
BSE Limited 78.2B 87.0 56.0 90.0 76.0 70.0 79 9 1
Edelweiss Financial Services Limited 60.0B 49.0 59.0 73.0 59.0 79.0 81 10 1
Prudent Corporate Advisory Services Limited 36.8B 86.0 52.0 82.0 75.0 88.0 89 11 1
IIFL Securities Limited 21.1B 91.0 41.0 48.0 89.0 83.0 84 12 1
Angel One Limited 133.3B 93.0 48.0 39.0 69.0 96.0 88 13 1
Indian Energy Exchange Limited 132.4B 95.0 40.0 88.0 81.0 89.0 94 14 1
IDFC Limited 131.1B 82.0 62.0 64.0 65.0 69.0 74 15 1
Tata Investment Corporation Limited 118.8B 93.0 44.0 66.0 79.0 88.0 90 16 1
UTI Asset Management Company Limited 99.2B 39.0 86.0 78.0 50.0 73.0 67 17 1
JM Financial Limited 71.1B 76.0 58.0 52.0 79.0 79.0 77 18 1
JSW Holdings Limited 47.4B 95.0 44.0 65.0 48.0 90.0 87 19 1
Bengal & Assam Company Limited 42.6B 55.0 56.0 68.0 53.0 90.0 81 20 1
ICRA Limited 42.4B 62.0 69.0 81.0 67.0 68.0 73 21 1
Authum Investment & Infrastructure Limited 40.9B 57.0 78.0 64.0 61.0 57.0 57 22 1
Share India Securities Limited 38.9B 52.0 46.0 83.0 89.0 90.0 82 23 1
Dhani Services Limited 29.2B 67.0 65.0 76.0 66.0 60.0 65 24 1
Choice International Limited 26.6B 58.0 74.0 71.0 68.0 65.0 66 25 1

Income Statement Analysis

All in all, the most important metrics within CARE Ratings's income statement looked encouraging. CARE Ratings reported impressive EBITDA this period. At filing, EBITDA was reported as 1.8B, representing 5.1% change from the previous period. Companies in the same industry and market capitalization are typically affected by this parameter by up to 1.0%. Their EBITDA metrics are even more impressive relative to their peers and competitors, and its likely the stock price has room to grow to reflect its intrinsic value accurately. Consequently, their EBITDA movement received a grade of 71. That said, one metric, Revenue Efficiency, stood out as strongly negative. CARE Ratings's revenue efficiency metrics look especially concerning this period, highlighting issues management is having controlling and reducing expenses while increasing earnings. This metric might have a 1.1 percent impact on companies in the same industry and with the same market capitalization. Their revenue efficiency does not make a compelling case for upward pressure on the company's stock price. Consequently, their revenue efficiency received a grade of 61. Therefore, its income statement earned a grade of 67.

Parameter Value Change Score
EBITDA 1.8B 5.1% 71
Total Revenues 2.9B 2.9% 61
Return on Equity 32.6 4.6% 62
* All values are TTM

The below chart describes CARE Ratings's performance as reflected on its income statement with respect to its peers. While CARE Ratings received a income statement score of 67 , the average of its peers stands on 72.

  •  CARERATING
  •  Peers average
Name Market Cap Revenue Momentum Earning Movement Return Factors Momentum Income Statement mc_sort Hidden
HDFC Asset Management Company Limited 466.5B 57.0 75.0 57.0 66 0 1
CRISIL Limited 213.7B 58.0 86.0 77.0 82 1 1
ICICI Securities Limited 170.3B 50.0 63.0 56.0 59 2 1
Nippon Life India Asset Management Limited 169.0B 59.0 75.0 59.0 68 3 1
IIFL Wealth Management Limited 162.6B 68.0 87.0 83.0 89 4 1
Central Depository Services (India) Limited 129.4B 47.0 86.0 79.0 81 5 1
Aditya Birla Sun Life AMC Limited 125.0B 81.0 52.0 57.0 60 6 1
Motilal Oswal Financial Services Limited 98.0B 43.0 68.0 93.0 75 7 1
Multi Commodity Exchange of India Limited 79.7B 45.0 65.0 50.0 48 8 1
BSE Limited 78.2B 59.0 69.0 78.0 71 9 1
Edelweiss Financial Services Limited 60.0B 83.0 70.0 62.0 65 10 1
Prudent Corporate Advisory Services Limited 36.8B 48.0 68.0 70.0 69 11 1
IIFL Securities Limited 21.1B 41.0 67.0 81.0 70 12 1
Angel One Limited 133.3B 46.0 73.0 70.0 69 13 1
Indian Energy Exchange Limited 132.4B 50.0 87.0 66.0 77 14 1
IDFC Limited 131.1B 49.0 68.0 47.0 48 15 1
Tata Investment Corporation Limited 118.8B 41.0 69.0 58.0 61 16 1
UTI Asset Management Company Limited 99.2B 81.0 50.0 58.0 60 17 1
JM Financial Limited 71.1B 48.0 68.0 77.0 69 18 1
JSW Holdings Limited 47.4B 47.0 75.0 53.0 64 19 1
Bengal & Assam Company Limited 42.6B 69.0 61.0 78.0 69 20 1
ICRA Limited 42.4B 87.0 57.0 50.0 51 21 1
Authum Investment & Infrastructure Limited 40.9B 81.0 77.0 66.0 72 22 1
Share India Securities Limited 38.9B 45.0 68.0 83.0 76 23 1
Dhani Services Limited 29.2B 58.0 61.0 63.0 62 24 1
Choice International Limited 26.6B 73.0 68.0 70.0 74 25 1

Cash Flow Analysis

Overall, CARE Ratings's critical cash flow metrics appear to signal strong support and a high likelihood of positive growth going into the next quarters. CARE Ratings is doing a remarkable job of keeping its asset turnover under control. At filing, their asset turnover metrics were 0.5, representing a -7.6% change from the previous period. This metric might have a 2.0 percent impact on companies in the same industry and with the same market capitalization. Their impressive asset turnover metrics, specifically in contrast to their industry peers' performance, should support a tailwind in the company's stock price. Correspondingly, their asset turnover movement received a grade of 87. Also, CARE Ratings's management did a great job this period managing its capital expenditure (CapEx). In terms of the raw numbers, CapEx was reported as -9.1M, which represents a 67.9% change from the last period. The company appears to be headed in the right direction regarding resource allocation, exhibiting prudent capital expenditure growth compared to its peers. Therefore, its CapEx movement component earned a score of 82. That said, one metric, Free Cash flow, stood out as strongly negative. CARE Ratings's published free cash flow numbers were subpar and could mean that management has lost focus on achieving healthy growth. CARE Ratings recorded free cash flow of 40.1, which represents 12.6% growth from the previous report. Companies in the same sector and market capitalization will usually be affected by up to 11.1 percent by this parameter. These free cash flow numbers show that management has not been executing well in generating critical cash flow while also encouraging growth. Consequently, their free cash flow movement received a grade of 66. Therefore, it received a score of 76.

Parameter Value Change Score
Net Cashflow 11.9M 263.1% 68
Capital Expenditure -9.1M 67.9% 82
Asset Turnover 0.5 -7.6% 87
Free Cashflow Per Share 40.1 12.6% 66
* All values are TTM

The below chart describes CARE Ratings's performance as reflected on its cash flow with respect to its peers. While CARE Ratings received a cash flow score of 76, the average of its peers stands on 61.

  •  CARERATING
  •  Peers average
Name Market Cap Cashflow Momentum Free Cashflow Growth Capital Expenditure Growth Assets Factors Momentum Cash Flow mc_sort Hidden
HDFC Asset Management Company Limited 466.5B 74.0 61.0 81.0 49.0 71 0 1
CRISIL Limited 213.7B 61.0 78.0 92.0 55.0 72 1 1
ICICI Securities Limited 170.3B 52.0 84.0 48.0 46.0 49 2 1
Nippon Life India Asset Management Limited 169.0B 78.0 59.0 89.0 50.0 76 3 1
IIFL Wealth Management Limited 162.6B 64.0 67.0 43.0 47.0 50 4 1
Central Depository Services (India) Limited 129.4B 72.0 50.0 43.0 45.0 55 5 1
Aditya Birla Sun Life AMC Limited 125.0B 73.0 83.0 53.0 89.0 73 6 1
Motilal Oswal Financial Services Limited 98.0B 68.0 63.0 81.0 93.0 81 7 1
Multi Commodity Exchange of India Limited 79.7B 88.0 47.0 72.0 46.0 76 8 1
BSE Limited 78.2B 77.0 54.0 81.0 89.0 83 9 1
Edelweiss Financial Services Limited 60.0B 81.0 53.0 71.0 87.0 86 10 1
Prudent Corporate Advisory Services Limited 36.8B 49.0 85.0 58.0 60.0 52 11 1
IIFL Securities Limited 21.1B 82.0 38.0 92.0 52.0 74 12 1
Angel One Limited 133.3B 62.0 74.0 72.0 88.0 76 13 1
Indian Energy Exchange Limited 132.4B 75.0 46.0 93.0 88.0 80 14 1
IDFC Limited 131.1B 59.0 76.0 82.0 43.0 68 15 1
Tata Investment Corporation Limited 118.8B 78.0 58.0 84.0 88.0 86 16 1
UTI Asset Management Company Limited 99.2B 87.0 52.0 49.0 80.0 71 17 1
JM Financial Limited 71.1B 69.0 68.0 69.0 88.0 78 18 1
JSW Holdings Limited 47.4B 72.0 62.0 59.0 46.0 61 19 1
Bengal & Assam Company Limited 42.6B 61.0 77.0 59.0 85.0 80 20 1
ICRA Limited 42.4B 65.0 71.0 64.0 49.0 66 21 1
Authum Investment & Infrastructure Limited 40.9B 63.0 71.0 69.0 65.0 66 22 1
Share India Securities Limited 38.9B 61.0 91.0 71.0 59.0 66 23 1
Dhani Services Limited 29.2B 65.0 72.0 72.0 70.0 74 24 1
Choice International Limited 26.6B 69.0 67.0 71.0 64.0 66 25 1

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