Integrated Filing — IndAS

General information about company
Scrip Code	534804
NSE Symbol	CARERATING
MSEI Symbol	NA
ISIN	INE752H01013
Name of company	CARE RATINGS LIMITED
Type of company	Main Board
Class of security	Equity
Date of start of financial year	01-Apr-2024
Date of end of financial year	31-Mar-2025
Date of board meeting when results were approved	12-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange	02-May-2025
Description of presentation currency	INR (in Actuals)
Reporting Type	Quarterly
Reporting Quarter	Fourth quarter
Nature of report standalone or consolidated	Consolidated
Whether results are audited or unaudited for the quarter ended	Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended	Audited
Segment Reporting	Multi segment
Description of single segment
Start date and time of board meeting	12-May-2025   12:00:00
End date and time of board meeting	12-May-2025   19:00:00
Whether cash flow statement is applicable on company	Yes
Type of cash flow statement	Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification	Declaration of unmodified opinion

Financial Results Ind-AS
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-Jan-2025	01-Apr-2024
B	Date of end of reporting period	31-Mar-2025	31-Mar-2025
C	Whether results are audited or unaudited	Unaudited	Audited
D	Nature of report standalone or consolidated	Consolidated	Consolidated
Part I	Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1	Income
	Revenue from operations	1096509000	4023175000
	Other income	151737000	507538000
	Total income	1248246000	4530713000
2	Expenses
(a)	Cost of materials consumed	0	0
(b)	Purchases of stock-in-trade	0	0
(c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade	0	0
(d)	Employee benefit expense	471171000	1889248000
(e)	Finance costs	5964000	21082000
(f)	Depreciation, depletion and amortisation expense	30615000	117217000
(f)	Other Expenses
1	Other expenses	151644000	580508000
	Total other expenses	151644000	580508000
	Total expenses	659394000	2608055000
3	Total profit before exceptional items and tax	588852000	1922658000
4	Exceptional items	0	0
5	Total profit before tax	588852000	1922658000
6	Tax expense
7	Current tax	142162000	516437000
8	Deferred tax	12969000	6202000
9	Total tax expenses	155131000	522639000
10	Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement	0	0
11	Net Profit Loss for the period from continuing operations	433721000	1400019000
12	Profit (loss) from discontinued operations before tax	0	0
13	Tax expense of discontinued operations	0	0
14	Net profit (loss) from discontinued operation after tax	0	0
15	Share of profit (loss) of associates and joint ventures accounted for using equity method	0	0
16	Total profit (loss) for period	433721000	1400019000
17	Other comprehensive income net of taxes	2634000	-2629000
18	Total Comprehensive Income for the period	436355000	1397390000
19	Total profit or loss, attributable to
	Profit or loss, attributable to owners of parent	426096000	1372387000
	Total profit or loss, attributable to non-controlling interests	7625000	7625000
20	Total Comprehensive income for the period attributable to
	Comprehensive income for the period attributable to owners of parent	428850000	1369822000
	Total comprehensive income for the period attributable to owners of parent non-controlling interests	7505000	27568000
21	Details of equity share capital
	Paid-up equity share capital	299321000	299321000
	Face value of equity share capital	10	10
27	Details of debt securities
22	Reserves excluding revaluation reserve		7763360000
23	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	14.24	45.89
	Diluted earnings (loss) per share from continuing operations	14.17	45.69
ii	Earnings per equity share for discontinued operations
	Basic earnings (loss) per share from discontinued operations	0	0
	Diluted earnings (loss) per share from discontinued operations	0	0
ii	Earnings per equity share
	Basic earnings (loss) per share from continuing and discontinued operations	14.24	45.89
	Diluted earnings (loss) per share from continuing and discontinued operations	14.17	45.69
24	Debt equity ratio
25	Debt service coverage ratio
26	Interest service coverage ratio
27	Disclosure of notes on financial results

Remarks
Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio

Statement of Asset and Liabilities
Particulars		Year ended (dd-mm-yyyy)
Date of start of reporting period		01-Apr-2024
Date of end of reporting period		31-Mar-2025
Whether results are audited or unaudited		Audited
Nature of report standalone or consolidated		Consolidated
	Assets
1	Non-current assets
	Property, plant and equipment	799357000
	Capital work-in-progress	0
	Investment property	0
	Goodwill	79503000
	Other intangible assets	313276000
	Intangible assets under development	29240000
	Biological assets other than bearer plants	0
	Investments accounted for using equity method	0
	Non-current financial assets
	Non-current investments	1340717000
	Trade receivables, non-current	0
	Loans, non-current	11434000
	Other non-current financial assets	64289000
	Total non-current financial assets	1416440000
	Deferred tax assets (net)	125000
	Other non-current assets	18234000
	Total non-current assets	2656175000
2	Current assets
	Inventories	0
	Current financial asset
	Current investments	0
	Trade receivables, current	320853000
	Cash and cash equivalents	488152000
	Bank balance other than cash and cash equivalents	481868000
	Loans, current	12392000
	Other current financial assets	5502445000
	Total current financial assets	6805710000
	Current tax assets (net)	41770000
	Other current assets	73787000
	Total current assets	6921267000
3	Non-current assets classified as held for sale	0
4	Regulatory deferral account debit balances and related deferred tax Assets	0
	Total assets	9577442000
	Equity and liabilities
1	Equity
	Equity attributable to owners of parent
	Equity share capital	299321000
	Other equity	7763360000
	Total equity attributable to owners of parent	8062681000
	Non controlling interest	92344000
	Total equity	8155025000
2	Liabilities
	Non-current liabilities
	Non-current financial liabilities
	Borrowings, non-current	0
	Trade payables, non-current
	(A) Total outstanding dues of micro enterprises and small enterprises	0
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	0
	Total Trade payable	0
	Other non-current financial liabilities	204942000
	Total non-current financial liabilities	204942000
	Provisions, non-current	173414000
	Deferred tax liabilities (net)	66016000
	Deferred government grants, Non-current	0
	Other non-current liabilities	0
	Total non-current liabilities	444372000
	Current liabilities
	Current financial liabilities
	Borrowings, current	0
	Trade payables, current
	(A) Total outstanding dues of micro enterprises and small enterprises	0
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	151416000
	Total Trade payable	151416000
	Other current financial liabilities	304346000
	Total current financial liabilities	455762000
	Other current liabilities	450902000
	Provisions, current	55774000
	Current tax liabilities (Net)	15607000
	Deferred government grants, Current	0
	Total current liabilities	978045000
3	Liabilities directly associated with assets in disposal group classified as held for sale	0
4	Regulatory deferral account credit balances and related deferred tax liability	0
	Total liabilities	1422417000
	Total equity and liabilites	9577442000
	Disclosure of notes on assets and liabilities	Textual Information(1)

Text Block

Textual Information(1)

The above results have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at its meeting held on May 12, 2025 and have been audited by the statutory auditors of the Company.The Board of Directors of the Company have recommended final dividend of Rs. 11 per share. The company had earlier paid Rs. 7 per share as interim dividend in Q2 FY25. Accordingly, the total dividend for FY25 shall be Rs. 18 per share.The consolidated financial results include results of CARE Ratings Limited and its subsidiaries namely CARE Analytics and Advisory Private Limited (formerly known as CARE Risk Solutions Private Limited), CARE ESG Ratings Limited (formerly known as CARE Advisory Research and Training Limited), CARE Ratings (Africa) Private Limited, CARE Ratings South Africa (Pty) Limited, CARE Ratings Nepal Limited and CareEdge Global IFSC Limited (w.e.f April 29, 2024).The accompanying financial results have been prepared as per the format prescribed under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016.The financial results have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under the Companies (Indian Accounting Standards) Rules, 2015 (as amended from time to time) read with section 133 of the Companies Act, 2013.The Company has granted 8,11,500 options on various dates (including in previous periods) to the eligible employees of the Group under the Company's Employees Stock Option Scheme (ESOS) 2020 which are duly approved by shareholders in AGM and Nomination & Remuneration Committee. As per Ind AS 102 - Share Based Payment, total cost of ESOS 2020 is recognised over vesting period.Employee Benefit Expenses in Consolidated results includes ESOP charge under respective periods as under: Share based payment expenses for quarter is Rs. 30.01 lacs & year is Rs.187.67 lacs.The figures for the quarter ended March 31, 2024 in the above financial results are the balancing figures between the audited figures for the full financial year ended March 31, 2024 and the year to date unaudited limited reviewed figures published up to the nine months ended December 31, 2023.The figures for the quarter ended March 31, 2025 in the above financial results are the balancing figures between the audited figures for the full financial year ended March 31, 2025 and the year to date unaudited limited reviewed figures published up to the nine months ended December 31, 2024.

Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars		3 months/ 6 month ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period		01-Jan-2025	01-Apr-2024
Date of end of reporting period		31-Mar-2025	31-Mar-2025
Whether accounts are audited or unaudited		Unaudited	Audited
Nature of report standalone or consolidated		Consolidated	Consolidated
1	Segment Revenue (Income)
	(net sale/income from each segment should be disclosed)
1	Ratings and related services	976101000	3601215000
2	Others	122609000	425671000
	Total Segment Revenue	1098710000	4026886000
	Less: Inter segment revenue	2201000	2201000
	Revenue from operations	1096509000	4023175000
2	Segment Result
	Profit (+) / Loss (-) before tax and interest from each segment
1	Ratings and related services	554094000	1958285000
2	Others	3163000	-72812000
	Total Profit before tax	557257000	1885473000
	i. Finance cost	5964000	5964000
	ii. Other Unallocable Expenditure net off Unallocable income	-37559000	-37559000
	Profit before tax	588852000	1922658000
3	(Segment Asset - Segment Liabilities)
	Segment Asset
1	Ratings and related services	7704884000	7704884000
2	Others	452338000	452338000
	Total Segment Asset	8157222000	8157222000
	Un-allocable Assets	1420220000	1420220000
	Net Segment Asset	9577442000	9577442000
4	Segment Liabilities
	Segment Liabilities
1	Ratings and related services	1057905000	1057905000
2	Others	364513000	364513000
	Total Segment Liabilities	1422418000	1422418000
	Un-allocable Liabilities	0	0
	Net Segment Liabilities	1422418000	1422418000
	Disclosure of notes on segments

Other Comprehensive Income
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-Jan-2025	01-Apr-2024
B	Date of end of reporting period	31-Mar-2025	31-Mar-2025
C	Whether results are audited or unaudited	Unaudited	Audited
D	Nature of report standalone or consolidated	Consolidated	Consolidated
	Other comprehensive income [Abstract]
1	Amount of items that will not be reclassified to profit and loss
1	Items that will not be reclassified to profit or Loss	4428000	-3574000
	Total Amount of items that will not be reclassified to profit and loss	4428000	-3574000
2	Income tax relating to items that will not be reclassified to profit or loss	542000	4458000
3	Amount of items that will be reclassified to profit and loss
1	Items that will be reclassified to profit or Loss	-1252000	5403000
	Total Amount of items that will be reclassified to profit and loss	-1252000	5403000
4	Income tax relating to items that will be reclassified to profit or loss	0	0
5	Total Other comprehensive income	2634000	-2629000

Cash flow statement, indirect
Particulars				Year ended (dd-mm-yyyy)
A	Date of start of reporting period			2024-04-01
B	Date of end of reporting period			2025-03-31
C	Whether results are audited or unaudited			Unaudited
D	Nature of report standalone or consolidated			Consolidated
Part I	Blue color marked fields are non-mandatory.
	Statement of cash flows
	Cash flows from used in operating activities
	Profit before tax			1922658000
	Adjustments for reconcile profit (loss)
	Adjustments for finance costs			21082000
	Adjustments for decrease (increase) in inventories			0
	Adjustments for decrease (increase) in trade receivables, current			0
	Adjustments for decrease (increase) in trade receivables, non-current			0
	Adjustments for decrease (increase) in other current assets			65899000
	Adjustments for decrease (increase) in other non-current assets			0
	Adjustments for other financial assets, non-current			0
	Adjustments for other financial assets, current			-146577000
	Adjustments for other bank balances			0
	Adjustments for increase (decrease) in trade payables, current			0
	Adjustments for increase (decrease) in trade payables, non-current			0
	Adjustments for increase (decrease) in other current liabilities			107741000
	Adjustments for increase (decrease) in other non-current liabilities			0
	Adjustments for depreciation and amortisation expense			117217000
	Adjustments for impairment loss reversal of impairment loss recognised in profit or loss			0
	Adjustments for provisions, current			0
	Adjustments for provisions, non-current			0
	Adjustments for other financial liabilities, current			91377000
	Adjustments for other financial liabilities, non-current			0
	Adjustments for unrealised foreign exchange losses gains			-1690000
	Adjustments for dividend income			1764000
	Adjustments for interest income			450410000
	Adjustments for share-based payments			18767000
	Adjustments for fair value losses (gains)			-43634000
	Adjustments for undistributed profits of associates			0
	Other adjustments for which cash effects are investing or financing cash flow			822000
	Other adjustments to reconcile profit (loss)			0
	Other adjustments for non-cash items			34514000
	Share of profit and loss from partnership firm or association of persons or limited liability partnerships			0
	Total adjustments for reconcile profit (loss)			-186656000
	Net cash flows from (used in) operations			1736002000
	Dividends received			0
	Interest paid			0
	Interest received			0
	Income taxes paid (refund)			506463000
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) operating activities			1229539000
	Cash flows from used in investing activities
	Cash flows from losing control of subsidiaries or other businesses			0
	Cash flows used in obtaining control of subsidiaries or other businesses			0
	Other cash receipts from sales of equity or debt instruments of other entities			0
	Other cash payments to acquire equity or debt instruments of other entities			0
	Other cash receipts from sales of interests in joint ventures			0
	Other cash payments to acquire interests in joint ventures			0
	Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships			0
	Cash payment for investment in partnership firm or association of persons or limited liability partnerships			0
	Proceeds from sales of property, plant and equipment			0
	Purchase of property, plant and equipment			147377000
	Proceeds from sales of investment property			0
	Purchase of investment property			0
	Proceeds from sales of intangible assets			0
	Purchase of intangible assets			0
	Proceeds from sales of intangible assets under development			0
	Purchase of intangible assets under development			0
	Proceeds from sales of goodwill			0
	Purchase of goodwill			0
	Proceeds from biological assets other than bearer plants			0
	Purchase of biological assets other than bearer plants			0
	Proceeds from government grants			0
	Proceeds from sales of other long-term assets			31055000
	Purchase of other long-term assets			892008000
	Cash advances and loans made to other parties			0
	Cash receipts from repayment of advances and loans made to other parties			0
	Cash payments for future contracts, forward contracts, option contracts and swap contracts			0
	Cash receipts from future contracts, forward contracts, option contracts and swap contracts			0
	Dividends received			1764000
	Interest received			480271000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			-57987000
	Net cash flows from (used in) investing activities	-584282000
	Cash flows from used in financing activities
	Proceeds from changes in ownership interests in subsidiaries			0
	Payments from changes in ownership interests in subsidiaries			0
	Proceeds from issuing shares			0
	Proceeds from issuing other equity instruments			0
	Payments to acquire or redeem entity's shares			0
	Payments of other equity instruments			0
	Proceeds from exercise of stock options			42141000
	Proceeds from issuing debentures notes bonds etc			0
	Proceeds from borrowings			0
	Repayments of borrowings			0
	Payments of lease liabilities			11908000
	Dividends paid			549112000
	Interest paid			21082000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) financing activities			-539961000
	Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes			105296000
	Effect of exchange rate changes on cash and cash equivalents
	Effect of exchange rate changes on cash and cash equivalents			0
	Net increase (decrease) in cash and cash equivalents			105296000
	Cash and cash equivalents cash flow statement at beginning of period			382856000
	Cash and cash equivalents cash flow statement at end of period			488152000