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CARE Ratings Ltd

BSE Code : 534804 | NSE Symbol : CARERATING | ISIN:INE752H01013| SECTOR : Credit Rating Agencies |

NSE BSE
 
SMC up arrow

1,106.10

16.00 (1.47%) Volume 17947

18-May-2024 EOD

Prev. Close

1,090.10

Open Price

1,098.00

Bid Price (QTY)

1,106.10(25)

Offer Price (QTY)

0.00(0)

 

Today’s High/Low 1,131.15 - 1,085.10

52 wk High/Low 1,263.95 - 632.00

Key Stats

MARKET CAP (RS CR) 3302.5
P/E 27.65
BOOK VALUE (RS) 254.208551
DIV (%) 250
MARKET LOT 1
EPS (TTM) 39.99
PRICE/BOOK 4.34957831139205
DIV YIELD.(%) 1.63
FACE VALUE (RS) 10
DELIVERABLES (%) 40.29
4

News & Announcements

15-May-2024

CARE Ratings Ltd - CARE Ratings Limited - ESOP/ESOS/ESPS

14-May-2024

CARE Ratings Ltd - CARE Ratings Limited - ESOP/ESOS/ESPS

13-May-2024

CARE Ratings Ltd - CARE Ratings Limited - Analysts/Institutional Investor Meet/Con. Call Updates

10-May-2024

CARE Ratings to hold AGM

10-May-2024

CARE Ratings to hold AGM

03-May-2024

CARE ESG Ratings receives SEBI nod to offer ESG ratings

24-Apr-2024

CARE Ratings to announce Quarterly Result

12-Apr-2024

CARE Ratings allots 15,801 equity shares under ESOS

Corporate Actions

Bonus
Splits
Dividends
Rights
Capital Structure
Book Closure
Board Meeting
AGM
EGM
 

Financials

Income Statement

Standalone
Consolidated
 

Peers Comparsion

Select Company Name BSE Code NSE Symbol
3rd Rock Multimedia Ltd 532066 3RDROCK
Aankit Granites Ltd 523511
Aarvi Encon Ltd 535014 AARVI
ABC India Ltd 520123
ABG Shipyard Ltd 532682 ABGSHIP
ABN Granites Ltd 515103
Accuracy Shipping Ltd 535090 ACCURACY
ACE EduTrend Ltd 530093
Ace Stonecraft Ltd 515133
Acewin Agriteck Ltd 539570
Acme Fluoro Polymers Ltd(liquidated) 514356
ACT India Ltd (Merged) 40656
Adani Ports & Special Economic Zone Ltd 532921 ADANIPORTS
Adani Total Gas Ltd 542066 ATGL
Addictive Learning Technology Ltd 92466 LAWSIKHO
Advance Bio-Coal (India) Ltd 531271
Advance Multitech Ltd 526331
Advanta Ltd(Merged) 532840 ADVANTA
Agri-Tech (India) Ltd 537292 AGRITECH
Agritech Hatcheries & Foods Ltd 523361 AGRIHATCH
Aikyam Intellectual Property Consultancy Ltd 506822
Airo Lam Ltd 535016 AIROLAM
Ajanta Soya Ltd 519216
Akshay Fiscal Services Ltd 40623
Alang Marine Ltd 520133
Alert Petrogas Ltd 501415
Alfa Ica (India) Ltd 530973
Alfavision Overseas (India) Ltd 531156
Allcargo Logistics Ltd 532749 ALLCARGO
Allcargo Terminals Ltd 543954 ATL
Alpha Hi-Tech Fuel Ltd 531247
Alphageo (India) Ltd 526397 ALPHAGEO
Amalgamated Electricity Company Ltd 501622
Ambition Mica Ltd 539223
Amiable Logistics India Ltd 535491 AMIABLE
Amy Urja Vikalp Ltd 40327
ANI Integrated Services Ltd 535028 AISL
Anik Ship Breaking Industries Ltd 531718 ANIKSHIP
Anil Ltd 532910
Anil Starch Products Ltd 40071
Anlon Technology Solutions Ltd 77891 ANLON
Anod Plasma Spray Ltd 40323
Antony Waste Handling Cell Ltd 543254 AWHCL
Anugraha Wood Products Ltd 526664
Anupama Steel Ltd 513203
Apco Industries Ltd 40334
Apcotex Industries Ltd 523694 APCOTEXIND
Apple Allied Industries Ltd 531180
Appollo Stones Ltd 526517
APT Labs Ltd 40361
Aqua Logistics Ltd 533159 AQUA
Arbuda Granite Industries Ltd 40285
Archidply Decor Ltd 543231 ADL
Archidply Industries Ltd 532994 ARCHIDPLY
Arihant Academy Ltd 77878 ARIHANTACA
Arihant Institute Ltd 541401
Aro Granite Industries Ltd 513729 AROGRANITE
Arshiya Ltd 506074 ARSHIYA
Artefact Projects Ltd 531297
Ascensive Educare Ltd 543443
Ashco Niulab Industries Ltd 517565 ASHCONIUL
Ashoka Cotseeds Ltd 519022
Asian Agalite (I) Ltd 526031
Asian Flora Ltd 531392
Asian Warehousing Ltd 543927
Asis Logistics Ltd 506159
Aspinwall & Company Ltd 533030 ASPINWALL
Associated Marmo & Granites Ltd 515107
Asya Infosoft Ltd 511144
Automobile Products of India Ltd 505032
Autoriders International Ltd 512277
AVG Logistics Ltd 543910 AVG
Ayepee Lamitubes Ltd(Merged) 523168
Balsara Hygiene Products Ltd(merged) 504338
Balurghat Technologies Ltd 520127 BALURTRANS
Banka Bioloo Ltd 535051 BANKA
Barar Industries Ltd 519172
Baroda Agro Industries Ltd 519453
Bee Electronic Machines Ltd 517203
Belapur Industries Ltd 507050
Best Board Ltd 516013
Bhaagyalakshmi Vegetable Products Ltd 519317
Bharat Line Ltd 501815
Bharat Starch Industries Ltd (Merged) 524750
Bharati Defence & Infrastructure Ltd 532609 BHARATIDIL
Bihar Air Products Ltd 509463
Binani Industries Ltd 500059 BINANIIND
Binani Metals Ltd 40252
Blazon Marbles Ltd 531570
Bloom Dekor Ltd 526225
Blue Pebble Ltd 92635 BLUEPEBBLE
Bombay Super Hybrid Seeds Ltd 535077 BSHSL
Brabourne Enterprises Ltd(merged) 500384 BRABOURNE
Brandbucket Media & Technology Ltd 543439
Bridge Securities Ltd 530249
Bright Outdoor Media Ltd 543831
Brushman (India) Ltd 590061
BSE Ltd 538397 BSE
BTW Industries Ltd 523682 BTWIND
Bubna Major Bio Tech Ltd 519550
Camson Bio Technologies Ltd 538858
Camson Seeds Ltd 540071
Capsugel Healthcare Ltd 506887
Carbon Composites (India) Ltd (Wound-up) 40156
Career Point Ltd 533260 CAREERP
Cargosol Logistics Ltd 543621
Cargotrans Maritime Ltd 543618
Carol Info Services Ltd 500446 CAROLINFO
Cartrade Tech Ltd 543333 CARTRADE
Caspian Corporate Services Ltd 534732
Cella Space Ltd 532701
Central Depository Services (India) Ltd 538434 CDSL
Central Provinces Railways Company Ltd 501827
Century Plyboards (India) Ltd 532548 CENTURYPLY
Century Proteins Ltd (Wound-up) 519399
Century Sheet Metals (India) Ltd 513650
CF Technologies Ltd 531748
Charminar Granites Exports Ltd 515105
Chartered Logistics Ltd 531977
Chennai Business Consulting Services Ltd 532319
Chokhani International Ltd 523246 CHOKAINTL
Choksi Laboratories Ltd 526546
Chordia Food Products Ltd 519475
CL Educate Ltd 540403 CLEDUCATE
Classic Biotech & Exports Ltd 531670
CMS Info Systems Ltd 543441 CMSINFO
Coastal Roadways Ltd 520131
Cochin Malabar Estates & Industries Ltd 508571
Cochin Shipyard Ltd 540678 COCHINSHIP
Committed Cargo Care Ltd 72292 COMMITTED
Computer Age Management Services Ltd 543232 CAMS
Confidence Petroleum India Ltd 526829 CONFIPET
Container Corporation Of India Ltd 531344 CONCOR
Containerway International Ltd 540597
Cornell Sheep Farm Ltd 40449
Coromandal Biotech Industries (India) Ltd 519293
Coromandel Granite Co Ltd 531138
Crayons Advertising Ltd 45823 CRAYONS
CRB Corporation Ltd 515113 CRBCORP
CRC Carrier Ltd (Wound-up) 520147 CENTRLROAD
CRISIL Ltd 500092 CRISIL
Crown Lifters Ltd 538371 CROWN
CRP Risk Management Ltd 540903
Crystal Agritech Ltd 531438
CSJ Technologies Ltd 531943
Cupid Ltd 530843 CUPID
DAPS Advertising Ltd 543651
Dataline & Research Technogies (I) Ltd 523998 DARTLTD
Datapro Information Technology Ltd 517473 DATAPROINF
Deccan Granites Ltd 515087 DECANGRAN
Deco-Mica Ltd 531227
Decorous Investment And Trading Co Ltd 539405
Delhivery Ltd 543529 DELHIVERY
Devinsu Trading Ltd 512445
Dhruv Consultancy Services Ltd 541302 DHRUV
Diksha Greens Ltd 542155
Divyashakti Ltd 526315
DJ Mediaprint & Logistics Ltd 543193 DJML
DMC Education Ltd 517973
DMR Hydroengineering & Infrastructures Ltd 543410
Docmode Health Technologies Ltd 79225 DHTL
DRA Consultants Ltd 540144
Dreamfolks Services Ltd 543591 DREAMFOLKS
Dredging Corporation of India Ltd 523618 DREDGECORP
Drone Destination Ltd 79226 DRONE
Droneacharya Aerial Innovations Ltd 543713
DRS Cargo Movers Ltd 76621 DRSCARGO
DRS Dilip Roadlines Ltd 535126 DRSDILIP
DSJ Keep Learning Ltd 526677 KEEPLEARN
DU DIgital Global Ltd 535394 DUGLOBAL
Dufa Indian Samay Ltd 523184
Duroply Industries Ltd 516003
Dyna Lamps & Glass Works Ltd 523542
Dynamic Microsteppers Ltd 531330
Dynamic Services & Security Ltd 535405 DYNAMIC
Dynavision Ltd 517238
E Factor Experiences Ltd 78925 EFACTOR
E I Granites Ltd 515131
East West Holdings Ltd 540006
Eastern Gases Ltd 540790
Eastern Granites Ltd 526283
Eastern Treads Ltd 531346
Eco Recycling Ltd 530643
Ecoboard Industries Ltd 523732 WESTERNBIO
EFC (I) Ltd 512008
Ekansh Concepts Ltd 531364
EKI Energy Services Ltd 543284
Elango Industries Ltd 513452
Electra (Jaipur) Ltd 523099
Elegant Floriculture & Agrotech (India) Ltd 526473
Elegant Marbles and Grani Industries Ltd 526705
Elgi Rubber Company Ltd 500471 ELGIRUBCO
Elgi Rubber Company Ltd (Merged) 590023 ELGIRUBBER
Elgi Rubber Products Ltd 40655
Elitecon International Ltd 539533
Enclotek Ready Panels Ltd 40429
EP Biocomposites Ltd 543595
Esha Media Research Ltd 531259
ETC Networks Ltd (merged) 532958 ETC
Euro Industries (India) Ltd 530087
Evans Electric Ltd 542668
Exhicon Events Media Solutions Ltd 543895
FGP Ltd 500142 FGPIND
Flomic Global Logistics Ltd 504380
Flora Wall Coverings Ltd 516054
Flower & Tissue India Ltd 526271
Focus Business Solution Ltd 543312
Focus Suites Solutions & Services Ltd 540945
Foundry Fuel Products Ltd 513579
Future Market Networks Ltd 533296 FMNL
Future Supply Chain Solutions Ltd 540798 FSC
G G Dandekar Properties Ltd 505250
GACM Technologies Ltd 531723 GATECH
GAIL (India) Ltd 532155 GAIL
Ganesh Benzoplast Ltd 500153 GANESHBE
Garden Reach Shipbuilders & Engineers Ltd 542011 GRSE
Garvee Granite Ltd (Wound-up) 530983
Garware Marine Industries Ltd 509563
Gateway Distriparks Ltd 543489 GATEWAY
Gateway Distriparks Ltd(Merged) 532622 GDL
Gayatri BioOrganics Ltd 524564
Gayatri Rubbers and Chemicals Ltd 77574 GRCL
Gconnect Logitech & Supply Chain Ltd 544156
Gee Gee Granites Ltd 515097
Gemini Agritech Ltd (Wound-up) 532125
Genelec Ltd 504243
Genera Agri Corp Ltd 541999
Genesis IBRC India Ltd 514336
Genomic Valley Biotech Ltd 539206
German Gardens Ltd 531317
Gestetner India Ltd(merged) 509698 GESTETNER
Getalong Enterprise Ltd 543372
Glittek Granites Ltd 513528
Global Education Ltd 538406 GLOBAL
Global Exhibitions Ltd 531305
Global Industries Ltd 530553
Global Stone India Ltd 515115
Global Surfaces Ltd 543829 GSLSU
Globe International Carriers Ltd 538385 GICL
Globus Power Generation Ltd 526025
Golden Agro Tech Industries Ltd 519584
Golden Crest Education & Services Ltd 540062
Gopikrishna Granites India Ltd 526361
Graintec India Ltd 519158
Grapco Industries Ltd 515063 GRAPCOGRAN
Graphisads Ltd 91904 GRAPHISAD
Greenearth Resources & Projects Ltd 533016 AUSTRAL
Greenhitech Ventures Ltd 544163
Greenlam Industries Ltd 538979 GREENLAM
Greenland Warehousing Ltd 526447
Greenpanel Industries Ltd 542857 GREENPANEL
Greenply Industries Ltd 526797 GREENPLY
Growel Times Ltd 40179
GRP Ltd 509152 GRPLTD
G-Tec Janix Education Ltd 538445 GTECJAINX
Gujarat Gas Company Ltd(Merged) 523477 GUJRATGAS
Gujarat Gas Ltd 539336 GUJGASLTD
Gujarat NRE Coke Ltd 512579 GUJNRECOKE
Gujarat NRE Coke-DVR 570003 GUJNREDVR
Gujarat Perstorp Electronics Ltd 526385
Gujarat Pipavav Port Ltd 533248 GPPL
Gujarat State Petronet Ltd 532702 GSPL
Gulshan Polyols Ltd 532457 GULPOLY
H J S Stones Ltd 513640
Hanman Fit Ltd 538731
Hardcastle & Waud Mfg Co Ltd 509597
Hare Krishna Investment & Industries Ltd 511832
Hariyana Ship Breakers Ltd 526931
Harrisons Malayalam Ltd 500467 HARRMALAYA
Harshdeep Hortico Ltd 544105
Healthcaps India Ltd 40238
Hemkunt Timbers Ltd 523156
Hero Multipap Pvt Ltd 512107
HG Industries Ltd(Merged) 513723 HIMGRANITE
HGI Industries Ltd 40011
Hilton Rubbers Ltd 509613
Hindustan Agrigenetics Ltd 519574
Hindustan Domestic Oil & Gas Co (Bombay) Ltd 40222
Hindustan Housing Company Ltd 509650
HPC Biosciences Ltd 535217
Humming Bird Education Ltd 542592
Husys Consulting Ltd 532590 HUSYSLTD
Hyderabad Allwyn Ltd (Merged) 504727
Hyderabad Lamps Ltd 500196
I B Industries Ltd (Merged) 530115
ICDS Ltd 511194 ICDSLTD
ICRA Ltd 532835 ICRA
IDL-Salzbau (India) Ltd (Merged) 515091
IIRM Holdings India Ltd 526530
IMEC Services Ltd 513295 RUCHISTRIP
Inani Marbles & Industries Ltd 531129
Indag Rubber Ltd 509162
Indegene Ltd 544172 INDGN
Indfrag Ltd 40356
India Rubber Ltd 523788
Indiabulls Enterprises Ltd 543715 IEL
Indiamart Intermesh Ltd 542726 INDIAMART
Indian Energy Exchange Ltd 540750 IEX
Indian Maize & Chemicals Ltd 524121
Indo Korea Sports Ltd 40341
Indo US Bio-Tech Ltd 541304
Indo-Germa Products Ltd 526791
Indraprastha Gas Ltd 532514 IGL
Inducto Steel Ltd 532001
Info Edge (India) Ltd 532777 NAUKRI
Infollion Research Services Ltd 78698 INFOLLION
Inlac Granston Ltd 513617
Innokaiz India Ltd 543905
Innovatus Entertainment Networks Ltd 543951
Integrated Capital Services Ltd 539149
Integrated Personnel Services Ltd 535488 IPSL
Inter State Oil Carrier Ltd 530259
Interiors & More Ltd 91869 INM
International Conveyors Ltd 509709 INTLCONV
Intrasoft Technologies Ltd 533181 ISFT
IRM Energy Ltd 544004 IRMENERGY
Ironwood Education Ltd 508918
ISC Udyog Ltd 531961
ITCONS E-Solutions Ltd 543806
J Taparia Projects Ltd 538539
Jagdambay Agri Genetics Ltd 531090
Jain Granites & Projects India Ltd 530957
Jain Marmo Industries Ltd 539119
Jalan Transolutions (India) Ltd 538428 JALAN
Jardine Henderson Ltd 40036
Jaswal Granites Ltd 515089 JASWALGRAN
Jay Electric Ltd (Liquidated) 504062
Jay Rapid Rollers Ltd 526449
Jayanti Business Machines Ltd (Wound-up) 526229 JAYBUSMAC
Jayatma Enterprises Ltd 539005
Jaykay Enterprises Ltd 500306 JKSYNTHETC
Jeevan Scientific Technology Ltd 538837
JITF Infra Logistics Ltd 540311 JITFINFRA
Jiwa Appliances Ltd 512000
Jiya Eco-Products Ltd 539225 JIYAECO
JK Agri Genetics Ltd 536493
Johnmeyers Granite Ltd 513260
Jolly Board Ltd 502335
JSW Infrastructure Ltd 543994 JSWINFRA
Jupiter Infomedia Ltd 534623
Just Dial Ltd 535648 JUSTDIAL
JVL Agro Industries Ltd 519248 JVLAGRO
K G Gluco Biols Ltd (Merged) 524089 KGLUCOBIOL
K.R.Foods Ltd 531698
Kaarya Facilities & Services Ltd 540756
Kailash Hi-Tech Timber Industries Ltd 40269
Kanak Krishi Implements Ltd 780003
Kandhari Rubbers Ltd 530603
Kanha Vanaspati Ltd 519160
Kanoria Fleurs & Naturals Pvt Ltd 40203
Kapston Services Ltd 535064 KAPSTON
Karishma Floriculture Ltd 530523
Karnimata Cold Storage Ltd 537784
Karuturi Global Ltd 531687 KGL
Kausar India Ltd 40473
Kaveri Seed Company Ltd 532899 KSCL
Kaya Ltd 539276 KAYA
KDDL Ltd 532054 KDDL
Kedia Agglomerated Marbles Ltd 515071
Kerala Rubber & Reclaims Ltd 509180
Kesar Terminals & Infrastructure Ltd 533289 KTIL
KFin Technologies Ltd 543720 KFINTECH
KHFM Hospitality & Facility Mgt. Services Ltd 535159 KHFM
Kilburn Office Automation Ltd 523218
Kishco Ltd 40184
Kitply Industries Ltd 502595 KITPLYIND
Knowledge Marine & Engineering Works Ltd 543273
Konkan Tyres Ltd 526379
Kontor Space Ltd 91874 KONTOR
Kotyark Industries Ltd 535409 KOTYARK
Kratos Energy & Infrastructure Ltd 501261
Krystal Integrated Services Ltd 544149 KRYSTAL
Kuber Floritech Ltd 531021
Kuberan Global Edu Solutions Ltd 543289
Lakshmi Automatic Loom Works Ltd 505302
Lancer Containers Lines Ltd 539841 LANCER
Laxmi Granites Ltd 515129
Laxmipati Engineering Works Ltd 537669
Le Lavoir Ltd 539814
Lead Reclaim and Rubber Products Ltd 78324 LRRPL
Learning Edge Acedemy of Professionals Ltd 780005
Likhami Consulting Ltd 539927
Lilac Power Ltd 531566
Lloyds Luxuries Ltd 535484 LLOYDS
Lucent Industries Ltd 539682
Lynx Machinery & Commercials Ltd 505320
M M Rubber Co Ltd 509196
M R Organisation Ltd 532128 MRO
Maagh Advertising & Marketing Services Ltd 543624
Machhar Industries Ltd 543934
Mackinnon Mackenzie & Company Ltd 501874
Madhav Marbles and Granites Ltd 515093 MADHAV
Madhusudan Industries Ltd 515059 MADSUDIND
Madhuveer Com 18 Network Ltd 531910
Magico Exports & Consultants Ltd 512351
Magnus Retail Ltd 517320
Magnus Rubber Industries Ltd 523882
Mahanagar Gas Ltd 539957 MGL
Mahindra Logistics Ltd 540768 MAHLOG
Majestic Research Services & Solutions Ltd 539229
Mangalam Seeds Ltd 539275
Mangalam Timber Products Ltd 516007 MANGTIMBER
Manor Floatel Ltd 526867
Marble City India Ltd 531281
Marinetrans India Ltd 79261 MARINETRAN
Mark Marbles & Mines Ltd 40756
Markolines Pavement Technologies Ltd 543364
Maruti Interior Products Ltd 543464
Matrimony.com Ltd 540704 MATRIMONY
Max Alert Systems Ltd 534563
Maxworth Country (India) Ltd 531493
Maya Agro Products Ltd 519419
Mayur Floorings Ltd 531221
Mazagon Dock Shipbuilders Ltd 543237 MAZDOCK
MBM Ltd 517139
MCS Ltd 523221
Medi Assist Healthcare Services Ltd 544088 MEDIASSIST
Mercantile Ventures Ltd 538942
Merino Industries Ltd 531299
Mertinez Entex Industries Ltd 506198
Metropoli Overseas Ltd 514456
MFL India Ltd 526622
Micro Plantae Ltd 500276 MICROPLANT
Mid-India Oils & Exports Ltd 519109
Midwest Gold Ltd 526570
MIG Media Neurons Ltd 532579 MMNL
Mihijam Vanaspati Ltd 519481
Milestone Furniture Ltd 541337
Milestone Global Ltd 531338
Milton Industries Ltd 535025 MILTON
Minosha India Ltd 517496
Mitcon Consultancy & Engineering Services Ltd 515508 MITCON
Modi Rubber Ltd 500890 MODIRUBBER
Modi Xerox Financial Services Ltd 40074
Modi Xerox Ltd - (Merged) 504272 MODIXEROX
Moh Ltd 532089
Morinda Overseas Industries Ltd 531973
Motor & General Finance Ltd 501343 MOTOGENFIN
Moxsh Overseas Educon Ltd 77905 MOXSH
MPIL Corporation Ltd 500450 MATHPLATT
MT Educare Ltd 534312 MTEDUCARE
Multi Commodity Exchange of India Ltd 534091 MCX
Mysore Lamp Works Ltd 40018
Nagarjuna Agri Tech Ltd 531832
Nagarjuna Granites Ltd 526279
Naisargik Agritech (India) Ltd 531365
Narmada Agrobase Ltd 543643 NARMADA
Nath Bio-Genes (India) Ltd 537291 NATHBIOGEN
National Plywood Industries Ltd 516062
Natura Hue Chem Ltd 531834
Natural Stone Exports Ltd 513638
Natural Vanaspati Ltd 519045
Navkar Corporation Ltd 539332 NAVKARCORP
Navoday Enterprises Ltd 543305
NBCC (India) Ltd 534309 NBCC
NCL Marbles & Granites Ltd 526333
NCL Seccolor Ltd - (Merged) 532196
Neelkanth Rockminerals Ltd 531049
Neha International Ltd 519560 NEHAINT
New Era Alkaloids And Export Ltd 530303
Nexgen Technologies Ltd 40488
Nirbhay Colours India Ltd 526349
Nirman Agri Genetics Ltd 78482 NIRMAN
Nirmitee Robotics India Ltd 543194
NMS Global Ltd 522289
Noel Agritech Ltd 526789
North Eastern Carrying Corpor. Ltd Partly Paidup 890186 NECCLTDPP
North Eastern Carrying Corporation Ltd 534615 NECCLTD
Novagold Petro-Resources Ltd 531791
Novopan India Ltd (Merged) 23110
Novopan Industries Ltd 500310 NOVOPANIND
NR International Ltd 532623
Nuchem Ltd 500311 NUCHEM
Oceanaa Biotek industries Ltd 538019
Octanorm India Ltd 526745
Omfurn India Ltd 535024 OMFURN
Omkar Pharmachem Ltd 532167
One 97 Communications Ltd 543396 PAYTM
OneClick Logistics India Ltd 91667 OLIL
Opal Luxury Time Products Ltd 500504 OPAL
Organic Recycling Systems Ltd 543997
Orient Beverages Ltd 507690
Oriental Rail Infrastructure Ltd 531859
Origin Agrostar Ltd 524170 SQUAREDBIO
Orissa Bengal Carrier Ltd 541206 OBCL
Orissa Lamps Ltd 517413
Orissa Luminaires Ltd 517542
Oseaspre Consultants Ltd 509782
OTCO International Ltd 523151
P.E. Analytics Ltd 535443 PROPEQUITY
Pacific Industries Ltd 523483 PACIFICIND
Parekh Distributors Ltd 501482
Parin Furniture Ltd 535115 PARIN
Parker Agrochem Exports Ltd 524628
Parnav Sports Academy Ltd 780017
Party Cruisers Ltd 535374 PARTYCRUS
Pashupati Seohung Ltd 526353
Patel Integrated Logistics Ltd 526381 PATINTLOG
Patel Integrated Logistics Ltd Partly Paidup 890159 PATINTPP
Patels Widecom (India) Ltd 517364 PATWIDECOM
Pentagon Rubber Ltd 78825 PENTAGON
Petronet LNG Ltd 532522 PETRONET
Philips Glass India Ltd (Merged) 515139 CGGLASS
Phoenix International Ltd 526481 PHOENXINTL
Pix Autos Ltd (Merged) 520143
Pix Transmission Ltd 500333 PIXTRANS
Pochiraju Industries Ltd 532803 POCHIRAJU
Pokarna Ltd 532486 POKARNA
Polar Marmo Agglomerates Ltd 523435
Polar Pharma India Ltd 523333
Pooja Granites & Marbles Ltd 515117
Prakash Pipes 506021
Pratik Panels Ltd 526490
Premier Laminates Ltd 531045
Premier Roadlines Ltd 92837 PRLIND
Pressman Advertising Ltd(Merged) 509077 PRESSMN
Prima Agro Ltd 519262
Priti International Ltd 535089 PRITI
Priyanka Udyog Ltd 512520
Pro CLB Global Ltd 540703
Promact Impex Ltd 526494
Prozone Realty Ltd 534675 PROZONER
PTL Enterprises Ltd 509220 PTL
Pullangode Rubber & Produce Company Ltd 40393
Punctual Trading Ltd 512461
Punjab Anand Lamp Industries Ltd (Merged) 504278 PUNANDLAMP
Qualitek Labs Ltd 544091
R J Bio-Tech Ltd 536456
R K Swamy Ltd 544136 RKSWAMY
R. D. Rubber Reclaim Ltd 40703
R.G. Ispat Ltd 513178
Radiant Cash Management Services Ltd 543732 RADIANTCMS
Raghuvansh Agrofarms Ltd 538921
Rain Industries Ltd 500339 RAIN
Rajadhiraj Industries Ltd 519206
Rajasthan Cylinders & Containers Ltd 538707
Rajasthan Gases Ltd 526873
Rajasthan Petro Synthetics Ltd 506975 RAJASPETRO
Rajendra Mining Spares Company Ltd 530225
Rajvi Logitrade Ltd 511185
Ratnasila Granites Ltd 40313
Rattan Vanaspati Ltd 519469
RattanIndia Enterprises Ltd 534597 RTNINDIA
Ravi Leela Granites Ltd 526095
Ravindra Energy Ltd 504341
Ravlon Pen Company Ltd 523495
RCS Vanaspati Industries Ltd 523423
Regency Trust Ltd 511585
Reliance Industrial Infrastructure Ltd 523445 RIIL
Reliance Natural Resources Ltd 532709 RNRL
Reliance Naval & Engineering Ltd 533107 RNAVAL
Reliance Polycrete Ltd 40335
Remington Rand of India Ltd(liquidated) 505805
Renewable Power Project Ltd (Wound Up) 523327
Rich Stones (India) Ltd 531303
Ridings Consulting Engineers India Ltd 541151
Rishiroop Rubber (International) Ltd 523658
Ritco Logistics Ltd 542383 RITCO
Rithwik Facility Management Services Ltd 540843
RKB Agro Industries Ltd 530891
RNB Industries Ltd 531250
Roadways India Ltd 40453
Rock Copco Ltd 515032
Rubber Products Ltd 526496
Rubfila International Ltd 500367 RUBFILINTL
Ruchi Infrastructure Ltd 509020 RUCHINFRA
Rudrabhishek Enterprises Ltd 535095 REPL
Rupal Laminates Ltd 516052
Rushil Decor Ltd 533470 RUSHIL
Rushil Decor Ltd Partly Paidup 890150 RUSHILPP
S J Logistics (India) Ltd 87111 SJLOGISTIC
S.S. Infrastructure Development Consultants Ltd 535070 SSINFRA
Saatal Kaatha & Chemicals Ltd 526811
Sahara Maritime Ltd 544056
Saint-Gobain Gyproc India Ltd (Merged) 523066 INDGYPSUM
Sakura Seimitsu India Ltd 523764
Sampann Utpadan India Ltd 534598 SAMPANN
Sanco Trans Ltd 523116
Sanghvi Brands Ltd 540782
Sanghvi Movers Ltd 530073 SANGHVIMOV
Sanguine Media Ltd 531898
Sankardev Coke Products Ltd 532023
Sanmitra Commercial Ltd 512062
Sarash Industries Ltd 531483
Sarthak Global Ltd 530993
Satellite Engineering Ltd 522279
Sayaji Industries Ltd 540728
SBEC Systems (India) Ltd 517360
SC Agrotech Ltd 526081
Scope Industries (India) Ltd 531886
SecUR Credentials Ltd 543625 SECURCRED
Secur Industries Ltd 526205
Sellwin Traders Ltd 538875
SER Industries Ltd 507984
Service Care Ltd 79232 SERVICE
Shangar Decor Ltd 540259
Shanti Educational Initiatives Ltd 539921
Sharavana Estates And Plantations Ltd 40299
Sharpline Broadcast Ltd 543341
Shashwat Furnishing Solutions Ltd 543519
Sheela Foam Ltd 540203 SFL
Shelter Infra Projects Ltd 526839
Shipping Corporation of India Land & Assets Ltd 544142 SCILAL
Shivaka Industries Ltd 40425
Shivani Vanaspati Ltd 531722
Shree OSFM E-Mobility Ltd 92152 SHREEOSFM
Shree Rama Newsprint Ltd 500356 RAMANEWS
Shree Rubber Industries Ltd 531908
Shree Vasu Logistics Ltd 535084 SVLL
Shreeji Translogistics Ltd 540738
Shreeoswal Seeds & Chemicals Ltd 535088 OSWALSEEDS
Sical Logistics Ltd 520086 SICALLOG
Siddharth Education Services Ltd 540736
Siddhika Coatings Ltd 535378 SIDDHIKA
Signpost India Ltd 544117 SIGNPOST
Silicon Rental Solutions Ltd 543615
Simran Farms Ltd 519566
Sindhu Trade Links Ltd 532029 SINDHUTRAD
Sinnar Bidi Udyog Ltd 509887
SIP Industries Ltd 523164
SIS Ltd 540673 SIS
Sitapur Plywood Manufactures Ltd 523664
SKN Industries Ltd 530569
Snowman Logistics Ltd 538635 SNOWMAN
Solarson Industries Ltd 522153 SOLARSNIND
Somi Conveyor Beltings Ltd 533001 SOMICONVEY
Sonal International Ltd 526429
Sonam Ltd 535087 SONAMLTD
Sonell Clocks & Gifts Ltd 531751
SORIL Infra Resources Ltd(Merged) 532679 SORILINFRA
Southern Fuel Ltd 526767
Southern Green Fields Ltd 531430
Southern Online Bio Technologies Ltd 532669
Space Incubatrics Technologies Ltd 541890
Span Divergent Ltd 524727
Spenta Floratech Ltd 40294
Spright Agro Ltd 531205
Sree Egg (India) Ltd 40438
Sri Vajra Granites Ltd 515081
Srinivasa Hatcheries Pvt Ltd 526893
Star Electronics Ltd 531081
Starlog Enterprises Ltd 520155 ABGHEAVY
Sterling Guaranty & Finance Ltd 508963
Stylam Industries Ltd 526951 STYLAMIND
Suchak Trading Ltd 512075
Sukhjit Starch & Chemicals Ltd 524542 SUKHJITS
Sun Granite Export Ltd 531013
Sun Pharma Advanced Research Company Ltd 532872 SPARC
Sungold Media & Entertainment Ltd 541799
Sunil Healthcare Ltd 537253
Super Spinning Mills Ltd 521180 SUPERSPIN
Supernova Advertising Ltd 780008
Suraj Cropsciences Ltd 532578 SURAJCROP
Suvidhaa Infoserve Ltd 543281 SUVIDHAA
SVC Industries Ltd 524488 ATVPETRO
Swad Industries & Leasing Ltd 519254
Swadha Nature Ltd 531039
Swagtam Trading & Services Ltd 539406
Swaika Vanaspati Products Ltd 519343
Swarna Securities Ltd 531003
Swarnima Oil Industries Ltd 519311
Swastik Rubber Products Ltd 509260
Swissen Interspace Ltd 531089
Sylvania & Laxman Ltd 504184
Synthetics & Chemicals Ltd 506660 SYNTHCHEM
Take Solutions Ltd 532890 TAKE
Talavadi Rock & Mineral Products Ltd 513636
Talwalkars Better value Fitness Ltd 533200 TALWALKARS
Talwalkars Healthclubs Ltd 541545 TALWGYM
Taneja Aerospace & Aviation Ltd 522229 TANEJAERO
Tarini International Ltd 538496
Tarsons Products Ltd 543399 TARSONS
TCI Express Ltd 540212 TCIEXP
TCI Industries Ltd 532262
Team Lease Services Ltd 539658 TEAMLEASE
Tebma Shipyards Ltd 40197
Techknowgreen Solutions Ltd 543991
Technojet Consultants Ltd 509917
Techtran Polylenses Ltd 523455
Teletek India Ltd 511080
Terrascope Ventures Ltd 513305
TGIF Agribusiness Ltd 544175
Thambbi Modern Spinning Mills Ltd 514484
The Indian Wood Products Company Ltd 540954
Tiger Logistics (India) Ltd 536264
Timbor Home Ltd 533444 TIMBOR
Timescan Logistics (India) Ltd 535426 TIMESCAN
Timex Group India Ltd 500414 TIMEXWATCH
Tinna Rubber & Infrastructure Ltd 530475
Tirupati Foam Ltd 540904
Tirupati Starch & Chemicals Ltd 524582
Top Telemedia Ltd 531554
Total Transport Systems Ltd 538444 TOTAL
Touchwood Entertainment Ltd 535037 TOUCHWOOD
Toyam Sports Ltd 538607
Trans India Glass Ltd 517443
Transchem Ltd 500422 TRANSCHEM
Transgene Biotek Ltd 526139
TransIndia Real Estate Ltd 543955 TREL
Transport Corporation of India Ltd 532349 TCI
Transteel Seating Technologies Ltd 91652 TRANSTEEL
Transvoy Logistics India Ltd 543754
Treadsdirect Ltd(Merged) 532205 TREADS
Tree House Education & Accessories Ltd 533540 TREEHOUSE
Trend East West LPG Bottling Ltd 530099
TTK Biomed Ltd (Merged) 508871
Tungabhadra Industries Ltd 507665
TVS Supply Chain Solutions Ltd 543965 TVSSCS
Typhoon Holdings Ltd 512307
Unicorn Organics Ltd 524087
Uniliv Foods Ltd (Wound Up) 519407
Uniply Decor Ltd 526957
Uniply Industries Ltd 532646 UNIPLY
United Van Der Horst Ltd 522091
Unity Agrotech Industries Ltd 519572
Universal Starch Chem Allied Ltd 524408
Updater Services Ltd 543996 UDS
Upsurge Seeds of Agriculture Ltd 535459 USASEEDS
Urban Enviro Waste Management Ltd 78747 URBAN
Usha Udyog Ltd (Merged) 517387
V R Woodart Ltd 523888
Vakrangee Ltd 511431 VAKRANGEE
Valplus Biotech Ltd 526634
Valuemart Retail Solutions Ltd 511114
Vamshi Rubber Ltd 530369
Vanta Bioscience Ltd 540729
Vantage Knowledge Academy Ltd 539761
Venkys (India) Ltd 523261 VENKEYS
Venkys (India) Ltd (Merged) 523640
Venus Universal Ltd 530769
Veranda Learning Solutions Ltd 543514 VERANDA
Vergola India Ltd 530319
Veritaas Advertising Ltd 92871 VERITAAS
Vertical Industries Ltd 515099
Vikas Proppant & Granite Ltd 531518 VIKASPROP
Vimta Labs Ltd 524394 VIMTALABS
Virtual Global Education Ltd 534741
Vishwas Agri Seeds Ltd 92761 VISHWAS
Vitta Mazda Ltd (Wound Up) 507954
Vivanta Industries Ltd 541735
Vivek Commercial Ltd 506117
VJTF Eduservices Ltd 509026
VMS Industries Ltd 533427
VRL Logistics Ltd 539118 VRLLOG
Vrundavan Plantation Ltd 544011
Walchand Peoplefirst Ltd 501370
Walvekar Farms & Food Products Ltd 531546
Webel Capacitors Ltd 505277
Welspun Enterprises Ltd (Merged) 538538 WELENTRP
Western India Plywoods Ltd 538415 WIPL
Western India Shipyard Ltd 531217
Winsome Breweries Ltd 526471
Y S Porcelain Tubes India Ltd 523778
Yaari Digital Integrated Services Ltd 533520 YAARI
Yama Polymers Ltd 530041
Yenepoya Minerals & Granites Ltd 515101
Yunik Managing Advisors Ltd 533149
Zeal Global Services Ltd 79263 ZEAL
Zen Technologies Ltd 533339 ZENTEC
Zomato Ltd 543320 ZOMATO

Share Holding

Category No. of shares Percentage
Total Foreign 7616126 25.51
Total Institutions 8026928 26.89
Total Govt Holding 0 0.00
Total Non Promoter Corporate Holding 5495653 18.41
Total Promoters 0 0.00
Total Public & others 8713406 29.19
Total 29852113 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About CARE Ratings Ltd

Credit Analysis & Research Ltd (CARE) commenced its operations in the year 1993 has established itself as the leading credit rating agency of India. The company provides various credit ratings that help corporates to raise capital for their various requirements and assist the investors to form informed investments decision based on the credit risk and their own risk-return expectations. Credit Analysis & Research Ltd (CARE Ratings) is a full service rating company that offers a wide range of rating and grading services across sectors. The company is recognized by Securities and Exchange Board of India (Sebi), Government of India (GoI) and Reserve Bank of India (RBI) etc. The company was promoted by major Banks/ FIs (financial institutions) in India. The company carries out rating of the debt instruments, namely structured obligations, Commercial paper, Debentures, Fixed deposits and Bonds, covering the full spectrum of Universe comprising Industrial Companies, Service companies, Infrastructure companies, Banks, Financial Institutions (FIs), Non-Bank Finance companies (NBFCs), Public Sector Undertakings (PSUs), State Government Undertakings, Municipal Corporations, Structured Finance Transactions, Securitization Transactions, SMEs, SSI and Micro Finance Institutions. In addition to debt ratings, the company has experience in providing specialized grading/rating services, such as Corporate Governance ratings, IPO grading, Mutual Fund Credit quality Ratings, Insurance Claims Paying Ability Ratings, Issuer Ratings, Grading of Construction entities, Grading of Maritime training institutes and LPG/ SKO Ratings. The company's Credit Rating is an opinion on the relative ability and willingness of an issuer to make timely payments on specific debt or related obligations over the life of the instrument. CARE rates rupee denominated debt of Indian companies and Indian subsidiaries of multinational companies. The Research and Information division of CARE provides contemporary research and information covering various industries and financial markets. Publications include Industry Research Reports with Updates, Debt Market Review, Budget Analysis, other policy impact analysis, and special commentaries on topical issues. The company had established the Research Division in June 2006. During the financial year 2007-08, the company entered into an agreement to provide technical assistance to a rating agency in one of the Latin American countries. During the year 2008-09, the Research Division added 5 new sector reports, namely Gems & Jewellery, Shipbuilding, Retail, Construction and Coal. During the year 2009-10, CARE Research launched reports in respect of sectors such as banking, two wheelers, passenger vehicles, sugar, man-made fibres and natural gas. They developed a new product known as 'Industry Risk Scores' which gives ranking to each industry on a five-point scale on both structural and financial parameters. Also, they launched CARE Online Reports Distribution System, whereby the reports can be purchased by subscribers by making online payment. The reports can be viewed online. During the year 2010-11, CARE acquired license to operate credit rating operations in Maldives and launched new products including equigrade, ESCO grading, RESCO grading and financial strength grading of shipyards, edugrade and real estate project star ratings. The company also started rating services for perpetual bonds issued by non financial service companies. In 2011-12, CARE has acquired 75.13% of the issued and paid up equity share capital of Kalypto Risk Technologies Private Limited'. Kalypto is engaged in the business of providing risk management software solutions and offers products with exclusive focus on banking and financial services domain and addressing the areas of enterprise risk management. During the year, the company also acquired indirect recognition as an external credit assessment institution from Hong Kong Monetary Authority. With the aim of unlocking value for the shareholders of the company and improving visibility of the brand - CARE Ratings, the company made an IPO in December 2012 through an offer for sale, with disinvestment by existing shareholders. The offer for sale was for 7,199,700 equity shares which was a dilution of 25.22% of post offer paid up capital. The issue which got listed on December 26, 2012 received an overwhelming response and was subscribed 34.05 times. During the financial year ended 31 March 2014, the company allotted 446,310 equity shares of Rs. 10 each to Ascent India Fund III, at a price of Rs. 560.15 per share (including Rs. 550.15 towards share premium) aggregating to an issue price of Rs. 250,000,547 to comply with the minimum capitalization norms applicable to non-fund based non-banking finance companies in connection with the IPO of the company undertaken in December 2012. During the year under review, the total number of rating assignments completed by the company grew by about 5.7% aggregating to 7,865 from 7,439 in FY13. Also, the total volume of debt rated has witnessed an increase on account of bank facility ratings segment by 15.5% while that of long term debt increased by 13.7%. Volume of short-term debt was lower by 6.8%. In terms of rating assignments completed, there was a decline in the number of short term ratings and long term ratings while bank facility ratings increased by 0.7%. The miscellaneous category (including grading) witnessed robust increase of more than 39.8%, which was mainly due to higher NSIC-MSME ratings. During the year, the company rated India's First Securitization Transaction backed by Mortgage Guarantee. During the course of the year, the company launched the ratings of infrastructure debt funds. A consortium led by CARE bagged the prestigious assignment for development of a Green Rating Model for MSMEs. The project is a part of the initiative from Global Environment Facility (GEF) through SIDBI. During the year, the company widened its reach by having its business development team in 53 locations. For furthering business with area-wise focus, the company opened an office in Chandigarh. During the year, CARE Kalypto Risk Technologies and Advisory Services Pvt Limited received a mandate to implement its Funds Transfer Pricing and Customer Profitability Solution at a reputed private bank in India. The company also upgraded its Rating Engine at a leading bank in Sri Lanka. The Company also successfully completed rolling-out its credit risk solution at a large bank in Vietnam, which was a first-of-its-kind, thereby enabling the bank to become a pioneer in the credit risk automation space in Vietnam. The Company also successfully completed rolling-out the 1st Phase of its Kalypto/IFRS solution at a bank in Sri Lanka. The Company further expanded its geographic reach with the sign-on of a bank in the Philippines for its market risk solution. During financial year ended 31 March 2015, the total number of rating assignments completed by the company grew by 1.4% while the aggregate volume of debt rated recorded a significant increase of 23.8%. The growth in volume of debt rated is attributed to the significant increase of 29.6% in volume of debt for medium and long term instruments. Besides, the volume of debt of bank facilities which accounts for a larger portion of 59% of the total debt rated too increased by 15.9% contributing significantly to the aggregate debt rated. The company added 3,878 new clients during the year. The company widened its reach with business development team in 69 locations. The company opened a branch in Coimbatore during the course of the year. During the year, CARE Ratings continued to market the grading products like education, real estate, equigrade etc. besides launching some new products. During the year, the company made some inroads into mutual funds rating and rated 36 schemes. The number of assignment under (RESCO) increased from 43 to 217 and those for (ESCO) from 11 to 40. The company rated the first Alternative Investment Fund (AIF) which is an opinion on the asset selection ability and asset management capabilities in their respective segments for these schemes. These ratings are based on the evaluation of the sponsor, evaluation of the asset management company, investment process adopted by the asset management company (AMC), risk management systems and operations/technology set up. CARE also rated the first green infrastructure bond issued by YES Bank. Also ITI grading was launched for rating of industrial training institutes under Directorate General of Employment and Training (DGE&T). CARE's SME team collaborated with the office of the Development Commissioner - MSME, Ministry of MSME, in developing a rating model for enterprises with ZED (Zero Effect Zero Defect) orientation under the Make in India campaign. The rating model will also be utilized for identifying capable enterprises for availing of business opportunities under Defence Offset Policy of the Government of India. In 2014-2015, CARE had rated 1,832 SMEs under the NSIC scheme compared with 1,047 in 2013-2014. The NSIC provides a subsidy to MSMEs for obtaining a rating from a recognized credit rating agency. This scheme has been in operation since 2005-06. The subsidy is a part of the Union Budget allocation which is presented annually. CARE Ratings acquired the entire remaining stake of 24.87% in CARE Kalypto Risk Technologies and Advisory Services Private Limited, making it 100% subsidiary of your company. CARE Ratings (Africa) Pvt. Ltd (CRAF) was incorporated on December 12, 2014 in Mauritius. During financial year ended 31 March 2016, the total number of instruments rated by the company declined by 5.6%. This was mainly due to the sharp fall in the number of assignments in the miscellaneous category which includes SME ratings among others. The number of assignments had increased for long term and bank facility ratings by 2.5% and 19.5% respectively. The total volume of debt rated decreased from Rs. 10.97 lakh crore to Rs. 10.85 lakh crore. During the year under review, the company focused on the second tier of companies which were entering the market for the first time. The combined effort resulted in an increase in new clients of around 3,000 during the year. The majority of these clients were of a small ticket size especially in the bank loan rating space. The company started a new subscription based service called CARE Rating Tracker (CART). It has data on the Rating History of over 40,000 entities covering all six Credit Rating Agencies. Over 40,000 companies classified under 120+ industries are included in this service. The company launched the rating of Real Estate Investment Trusts (REITs). A REIT is a corporation or a trust which utilizes the pooled capital of many investors to purchase, and in most cases, operate income-producing real estate such as offices, apartments, shopping complexes, hotels and warehouses. CARE's Rating of REIT fund is an opinion on the REIT's investment quality, based on the fundamental assessment of the REIT. CARE-REIT rating is assigned on a five-point scale from 1 to 5, with 'CARE: REIT-1' indicating highest investment quality and 'CARE:REIT-5' indicating poor investment quality. The company also launched grading of tourism facilities for Government of Karnataka where a rating by an entity would be eligible for concessions from the government. During the year under review, CARE Kalypto Risk Technologies and Advisory Services Private Limited procured highest ever order in its history. Through the competitive bidding process, it acquired order from the largest commercial bank in Sri Lanka viz. Bank of Ceylon (BOC) for Enterprise Risk Management Solutions. CARE Ratings (Africa) Private Limited (CRAF) is incorporated in Mauritius and is the first credit rating agency to be licensed by the Financial Services Commission of Mauritius w.e.f. May 7, 2015. CRAF commenced operations in August 2015 and has completed its first assignment. The other significant development has been the MoU with Japan Credit Rating Agency (JCR). The MoU talks of the two agencies working together closely to further mutual interests. As there are several Japanese companies operating in India, JCR would be encouraging them to get a rating from CARE in case any funding has to be procured from India. Similarly, the Japanese market has become important in the context of the interest rate differential between the two countries and CARE may refer company's seeking to raise funds from Japanese market to JCR. During financial year ended 31 March 2017, the company added 4,676 new clients. During the year, the total number of assignments rated by the company increased by 33.2%. This was mainly due to increase in number of assignments on account of long term rating and number of assignments in the miscellaneous category which includes SME ratings among others. However, the number of assignments decreased for bank facility ratings by 3.5%. The total volume of debt rated increased from Rs 10.85 lakh crore to Rs 13.18 lakh crore. The increase was mainly attributed to increase in volumes rated in the short, long term categories and bank facility ratings. In terms of volume of debt rated, the long term assignments witnessed an increase in share from 39% to 45.3% while that of bank facilities came down from 50.2% to 45%. During the year, CARE Ratings launched the Green Initiative Rating (GIR) aimed at measuring the green initiatives of entities beyond the basic compliance requirements. A risk assessment by an independent entity such as a credit rating agency would enable the lenders, the investors and the society at large to understand the initiatives undertaken by the company beyond minimum requirement for minimizing the adverse impact caused by the units' economic activity on the environment with focus on sustainability. Recognising the need for independent evaluation of cooperative banks, the company also developed the Cooperative Banks Financial Strength Grading. The product would focus on the financial strength/capability of a co-operative bank in long-term as well as short term. It indicates bank's intrinsic safety and soundness. The company started the CARE Executive Training Programme (CETP); conducting its first training programme on Fundamentals of Corporate Credit on 19 May 2016 at Mumbai. The company also signed a MoU subject to regulatory approvals in India and Nepal with Vishal Group Limited and Emerging Nepal Limited to start a credit rating agency in Nepal to be called CARE Ratings (Nepal) Limited. As per the terms of the MoU, CARE Ratings will hold 51% of the equity of NR 5 crore while Vishal group will own 19% and Emerging Nepal Limited 10%. The balance 20% will be held by banks, insurance companies, FIs and corporate bodies in Nepal subject to a maximum of 9% per legal entity. CARE Ratings (Africa) Private Limited (CRAF) got the recognition from Bank of Mauritius (BoM) as an External Credit Assessment Institution (ECAI) for all market segments w.e.f. May 9, 2016. Further, The African Development Bank has taken up close to 10% stake in CRAF. During the year, CRAF assigned ratings to 7 corporates. CARE Advisory Research and Training Limited is a wholly owned subsidiary of your company which was incorporated on September 6, 2016. CART is in the business of Training, Advisory and Research. It was incorporated with an Authorised Share Capital of Rs. 10 crores and a paid up share capital of Rs. 5 Lakhs. During the year, the company allotted 40,45,450 equity shares of Rs.10/- each at a premium of Rs. 1/- per share amounting to Rs. 4,44,99,950 on a preferential basis to CARE. During the financial year ended 31 March 2018, the company reviewed its efforts required for completion of various activities in the rating process in light of changes in Regulations, Business-Mix and Technological Enhancements. During the year, the total number of rating assignments of the company increased by 2.2%. This was mainly due to a decline in the NSIC-SME segment (under others) even as there was an increase in the number of assignments on account of bank facility ratings and capital market instrument ratings. The total volume of new debt rated increased from Rs. 13.19 lakh crore in 2016-17 to Rs. 16.48 lakh crore in 2017-18. This was mainly due to increase in volume of debt rated across categories such as short & medium term, long term and bank facility ratings. Within short and medium term instrument ratings, commercial paper was the dominant segment which was aided by the dual rating rule brought in by the RBI. CARE Ratings continued to have a focused team on the large and mid-corporate segments which works on both - augmenting the client portfolio through new client addition and maintaining relationships with the existing companies. These two prongs are required to keep the business improving in future. CARE Ratings was the first rating agency to assign rating to the consumer durable securitization in India during the year. During the year, the company also rated Partial guarantee bonds/Co-guarantee structured bonds as well as projects based on Hybrid Annuity Model in road projects. In line with the practices of most of the leading credit rating agencies across the country and the globe, CARE Ratings decided to replace the external rating committee comprising eminent independent professionals with an Internal Rating Committee comprising senior executives from within the ratings team w.e.f. April 1, 2017. As per SEBI guidelines, MD & CEO is not a part of such Rating Committees. CARE, on its website, discloses the rating process that it adopts for rating any instrument or facility. The website also gives a comprehensive insight into the various methodologies adopted by CARE for rating instruments from different industries. Further, key policy documents like CARE's approach to default recognition, suspension policy etc. are also available on the website. The company took advantage of the revised regulatory guidelines that require dual rating of commercial paper when the size of issue during the year is above Rs 1000 cr. This led to an increase in the number of short term instruments rated during the year. In FY17-18, CARE Ratings (Africa) Private Limited (CRAF) expanded its operations and assigned ratings to instruments in both the bond and bank facilities domain aggregating to around MUR 20.0 billion (Mur 9.0 billion in FY17). In October 2017, Bank of Mauritius has published the revised guidelines on The Recognition and Use of External Credit Assessment mapping of CRAF's Ratings has been included in the Guideline. CARE Ratings Nepal Limited (CRNL) is incorporated in Kathmandu, Nepal and is the second credit rating agency to be licensed by the Securities Board of Nepal w.e.f. November 16, 2017. In FY 2017-18, CARE Advisory Research and Training Limited (CART) expended its business offerings beyond TEV and now offer Valuation, Business plan preparation, financial improvement plan, bid process management, LIE services among other services. During the year, CART executed total of 76 Advisory assignments and undertook 9 industry research assignments for clients to assist them in filing Draft Red Herring Prospectus. During the year, CART conducted 13 days of executive classroom trainings on various topics which included customized training for a bank and an NBFC. On 2 February 2018, CART launched on-line Certificate Course in Credit Management (CCCM). In 2017-18, the company's IT initiatives were focused more on upgrading the existing IT infrastructure to support business growth. The company implemented Data Leakage prevention solution to ensure and fortify data security. During the year 2017-18, the company rated Partial guarantee bonds / Co-guarantee structured bonds as well as projects based on Hybrid Annuity Model in road projects. CARE completed multiple IT projects and infrastructure upgradation during the year 2017-18. During the year 2018, CARE Risk Solutions Pvt. Ltd. (100% subsidiary of CARE Ratings), a niche risk management solution provider for banking and financial institutions diversified its product offerings. The Company developed a new product IFRS-9 and Financial Reporting Automation system after surveying that this product has immense market potential. It successfully Implemented IFRS-9 in Sri Lanka and East Africa to leverage the first mover's advantage, which in turn opens up more opportunities for CRS also started incubation in certain key areas like IFRS on cloud for NBFCs and small banks, Artificial machine learning led models for risk management solutions, which enhance accuracy. CARE Ratings carried out securitization of personal loans and consumer durable loans pools of some of fintechs in FY 2018-19. This is based on its understanding of the credit assessment abilities of such platforms, the track record of the originating entities, the actual performance of the underlying loans till date, etc. The ratings volume of the Commercial paper carried out by the company during the year were Rs. 2.86 lakh crore in 2018-19. During FY 2018-19, CART executed more than 200 Advisory assignments in Advisory division. During FY 2018-19, CART undertook around 20 industry research assignments for clients to assist them in filing Draft Red Herring Prospectus in Research division. In Training Division, the company conducted 23 days of executive classroom trainings on various topics, which included customized training for clients. The Company also launched more on-line courses and now has 7 on-line courses live on its trainings portal during the year 2018-19. In FY19, CARE Training under CARE Advisory Research & Training (CART) developed and executed pilot programs such as Stressed Asset Resolution-Challenges and Opportunities, Mastering Trade Finance, ECL under IndAS, Corporate Valuation and Mergers & Acquisitions. CARE Training also executed soft skills training like Business Communication and Effective Sales Training. During the FY19, the Company's subsidiary, Care Ratings (Africa) Private Limited (CRAF) has assigned ratings to 12 corporates of Mauritius including renowned Corporates like The Mauritius Commercial Bank Ltd. [CARE MAU AAA (IS) Stable], Bank One [CARE MAU A+ (IS) Stable], Ciel Limited [CARE MAU AA Stable], CIM Finance Ltd.[CARE MAU AA Stable], Leal & Co. Ltd. [CARE MAU A1+] and ENL Ltd. [CARE MAU A Stable]. In FY18-19, the Company assigned credit ratings to bank facilities and bond issue aggregating to around MUR 21.0 billion. There has been an increase in awareness about the concept of Credit Rating amongst Banks and Corporates and clear understanding of the benefits from such Ratings.

CARE Ratings Ltd Chairman Speech

Mr. Najib Shah

It is with a sense of pride that I present CareEdge's 29th Annual Report. Pride in the manner we have overcome the unprecedented challenges of the past two years and brought ourselves back on the growth track. I would like to thank and laud all the staff of CareEdge for their commendable efforts through this difficult period. In FY22, severe waves of the pandemic continued to hurt consumer sentiment, but the Government was quick to respond with large-scale vaccination drives and healthcare programmes for all. There was a sharp decline in the long-term borrowings from the debt capital markets even as fundraising through the short-term issues was higher. All this had an impact on the ratings business. As the lockdown-induced restrictions started easing, there was some pickup in economic growth momentum towards the second half of the year, aided by the pent-up demand. Despite these challenges, your Company put in a sterling performance with a total income in FY22 of Rs 247.63 crore and profit after tax of Rs 84.47 crore.

Your Company continued its transformational journey with a focus on four pillars – Group Impetus, Technology, People, and Re-Branding. While the first three are ongoing, your Company completed its overall rebranding with the help of a leading global agency to present a brand-new look and feel. Focussed heavily on driving CareEdge Group with all the subsidiaries in sync, your Company's Board and the senior management have been working on leading the group on the growth track. Your Company, in the process, has brought on board multiple specialists in the desired positions to drive us on the right path.

The subsidiaries, both domestic and international, are integral to the overall growth journey of the Group. Keeping this in mind, the Board has approved Rs 33.5 crore equity infusion for enhancing the product and market developments at CARE Risk Solutions. With reinforced vigour and fresh strategical inputs from the leadership, the company is seeking to expand its footprint in the global arena.

CARE Advisory Research and Training, too, under enthusiastic leadership, is widening its horizon by bringing in more ESG-oriented research and advisory projects. The past year alone has seen it grow from low-ticket businesses to top-of-the-line clients such as ADB, World Bank and other large international funds. To expand the business, the Board has approved Rs 10 crore equity infusion.

The international subsidiaries of your Company, namely CARE Ratings (Africa) Private Limited and CARE Ratings Nepal Limited, are in the process of building bigger businesses in their respective regions despite the roadblocks presented by the pandemic. In FY22, CRAF has assigned ratings to more than 40 corporates of Mauritius while CRNL has maintained its track record of revenue growth.

Your Company is also actively synchronising the energies to optimise our technologies for ensuring constant process improvement. From shifting signing all Rating Committee Minutes to e-signing and maintaining the records electronically during the year to adopting new technology for cutting carbon footprint, your Company is taking an environmentally conscious approach. We have taken heed of concerns raised by our dear shareholders that given our cash balance, there is a need for considering a buyback of equity shares. The Board of Directors has approved a proposal for buyback of up to 23,68,000 fully paid-up equity shares of the face value of Rs 10. We have sought the approval of members through a postal ballot.

We would like to thank you for your patience and understanding even in the most difficult of times. During the year, your Company paid an interim dividend of Rs 7/- per equity share amounting to a pay-out of Rs 20.62 crore. The Board has recommended a final dividend of Rs 10/- per equity share. If approved by members in the ensuing AGM, it will result in a payout of Rs 29.65 crore for FY22.

On behalf of the company, may I assure you that we are dedicated to striving for the best for the CareEdge Group in its transformational journey and to building bigger and better business in the coming year. I wish you and your families the very best. Take care and stay safe.

   

CARE Ratings Ltd Company History

Credit Analysis & Research Ltd (CARE) commenced its operations in the year 1993 has established itself as the leading credit rating agency of India. The company provides various credit ratings that help corporates to raise capital for their various requirements and assist the investors to form informed investments decision based on the credit risk and their own risk-return expectations. Credit Analysis & Research Ltd (CARE Ratings) is a full service rating company that offers a wide range of rating and grading services across sectors. The company is recognized by Securities and Exchange Board of India (Sebi), Government of India (GoI) and Reserve Bank of India (RBI) etc. The company was promoted by major Banks/ FIs (financial institutions) in India. The company carries out rating of the debt instruments, namely structured obligations, Commercial paper, Debentures, Fixed deposits and Bonds, covering the full spectrum of Universe comprising Industrial Companies, Service companies, Infrastructure companies, Banks, Financial Institutions (FIs), Non-Bank Finance companies (NBFCs), Public Sector Undertakings (PSUs), State Government Undertakings, Municipal Corporations, Structured Finance Transactions, Securitization Transactions, SMEs, SSI and Micro Finance Institutions. In addition to debt ratings, the company has experience in providing specialized grading/rating services, such as Corporate Governance ratings, IPO grading, Mutual Fund Credit quality Ratings, Insurance Claims Paying Ability Ratings, Issuer Ratings, Grading of Construction entities, Grading of Maritime training institutes and LPG/ SKO Ratings. The company's Credit Rating is an opinion on the relative ability and willingness of an issuer to make timely payments on specific debt or related obligations over the life of the instrument. CARE rates rupee denominated debt of Indian companies and Indian subsidiaries of multinational companies. The Research and Information division of CARE provides contemporary research and information covering various industries and financial markets. Publications include Industry Research Reports with Updates, Debt Market Review, Budget Analysis, other policy impact analysis, and special commentaries on topical issues. The company had established the Research Division in June 2006. During the financial year 2007-08, the company entered into an agreement to provide technical assistance to a rating agency in one of the Latin American countries. During the year 2008-09, the Research Division added 5 new sector reports, namely Gems & Jewellery, Shipbuilding, Retail, Construction and Coal. During the year 2009-10, CARE Research launched reports in respect of sectors such as banking, two wheelers, passenger vehicles, sugar, man-made fibres and natural gas. They developed a new product known as 'Industry Risk Scores' which gives ranking to each industry on a five-point scale on both structural and financial parameters. Also, they launched CARE Online Reports Distribution System, whereby the reports can be purchased by subscribers by making online payment. The reports can be viewed online. During the year 2010-11, CARE acquired license to operate credit rating operations in Maldives and launched new products including equigrade, ESCO grading, RESCO grading and financial strength grading of shipyards, edugrade and real estate project star ratings. The company also started rating services for perpetual bonds issued by non financial service companies. In 2011-12, CARE has acquired 75.13% of the issued and paid up equity share capital of Kalypto Risk Technologies Private Limited'. Kalypto is engaged in the business of providing risk management software solutions and offers products with exclusive focus on banking and financial services domain and addressing the areas of enterprise risk management. During the year, the company also acquired indirect recognition as an external credit assessment institution from Hong Kong Monetary Authority. With the aim of unlocking value for the shareholders of the company and improving visibility of the brand - CARE Ratings, the company made an IPO in December 2012 through an offer for sale, with disinvestment by existing shareholders. The offer for sale was for 7,199,700 equity shares which was a dilution of 25.22% of post offer paid up capital. The issue which got listed on December 26, 2012 received an overwhelming response and was subscribed 34.05 times. During the financial year ended 31 March 2014, the company allotted 446,310 equity shares of Rs. 10 each to Ascent India Fund III, at a price of Rs. 560.15 per share (including Rs. 550.15 towards share premium) aggregating to an issue price of Rs. 250,000,547 to comply with the minimum capitalization norms applicable to non-fund based non-banking finance companies in connection with the IPO of the company undertaken in December 2012. During the year under review, the total number of rating assignments completed by the company grew by about 5.7% aggregating to 7,865 from 7,439 in FY13. Also, the total volume of debt rated has witnessed an increase on account of bank facility ratings segment by 15.5% while that of long term debt increased by 13.7%. Volume of short-term debt was lower by 6.8%. In terms of rating assignments completed, there was a decline in the number of short term ratings and long term ratings while bank facility ratings increased by 0.7%. The miscellaneous category (including grading) witnessed robust increase of more than 39.8%, which was mainly due to higher NSIC-MSME ratings. During the year, the company rated India's First Securitization Transaction backed by Mortgage Guarantee. During the course of the year, the company launched the ratings of infrastructure debt funds. A consortium led by CARE bagged the prestigious assignment for development of a Green Rating Model for MSMEs. The project is a part of the initiative from Global Environment Facility (GEF) through SIDBI. During the year, the company widened its reach by having its business development team in 53 locations. For furthering business with area-wise focus, the company opened an office in Chandigarh. During the year, CARE Kalypto Risk Technologies and Advisory Services Pvt Limited received a mandate to implement its Funds Transfer Pricing and Customer Profitability Solution at a reputed private bank in India. The company also upgraded its Rating Engine at a leading bank in Sri Lanka. The Company also successfully completed rolling-out its credit risk solution at a large bank in Vietnam, which was a first-of-its-kind, thereby enabling the bank to become a pioneer in the credit risk automation space in Vietnam. The Company also successfully completed rolling-out the 1st Phase of its Kalypto/IFRS solution at a bank in Sri Lanka. The Company further expanded its geographic reach with the sign-on of a bank in the Philippines for its market risk solution. During financial year ended 31 March 2015, the total number of rating assignments completed by the company grew by 1.4% while the aggregate volume of debt rated recorded a significant increase of 23.8%. The growth in volume of debt rated is attributed to the significant increase of 29.6% in volume of debt for medium and long term instruments. Besides, the volume of debt of bank facilities which accounts for a larger portion of 59% of the total debt rated too increased by 15.9% contributing significantly to the aggregate debt rated. The company added 3,878 new clients during the year. The company widened its reach with business development team in 69 locations. The company opened a branch in Coimbatore during the course of the year. During the year, CARE Ratings continued to market the grading products like education, real estate, equigrade etc. besides launching some new products. During the year, the company made some inroads into mutual funds rating and rated 36 schemes. The number of assignment under (RESCO) increased from 43 to 217 and those for (ESCO) from 11 to 40. The company rated the first Alternative Investment Fund (AIF) which is an opinion on the asset selection ability and asset management capabilities in their respective segments for these schemes. These ratings are based on the evaluation of the sponsor, evaluation of the asset management company, investment process adopted by the asset management company (AMC), risk management systems and operations/technology set up. CARE also rated the first green infrastructure bond issued by YES Bank. Also ITI grading was launched for rating of industrial training institutes under Directorate General of Employment and Training (DGE&T). CARE's SME team collaborated with the office of the Development Commissioner - MSME, Ministry of MSME, in developing a rating model for enterprises with ZED (Zero Effect Zero Defect) orientation under the Make in India campaign. The rating model will also be utilized for identifying capable enterprises for availing of business opportunities under Defence Offset Policy of the Government of India. In 2014-2015, CARE had rated 1,832 SMEs under the NSIC scheme compared with 1,047 in 2013-2014. The NSIC provides a subsidy to MSMEs for obtaining a rating from a recognized credit rating agency. This scheme has been in operation since 2005-06. The subsidy is a part of the Union Budget allocation which is presented annually. CARE Ratings acquired the entire remaining stake of 24.87% in CARE Kalypto Risk Technologies and Advisory Services Private Limited, making it 100% subsidiary of your company. CARE Ratings (Africa) Pvt. Ltd (CRAF) was incorporated on December 12, 2014 in Mauritius. During financial year ended 31 March 2016, the total number of instruments rated by the company declined by 5.6%. This was mainly due to the sharp fall in the number of assignments in the miscellaneous category which includes SME ratings among others. The number of assignments had increased for long term and bank facility ratings by 2.5% and 19.5% respectively. The total volume of debt rated decreased from Rs. 10.97 lakh crore to Rs. 10.85 lakh crore. During the year under review, the company focused on the second tier of companies which were entering the market for the first time. The combined effort resulted in an increase in new clients of around 3,000 during the year. The majority of these clients were of a small ticket size especially in the bank loan rating space. The company started a new subscription based service called CARE Rating Tracker (CART). It has data on the Rating History of over 40,000 entities covering all six Credit Rating Agencies. Over 40,000 companies classified under 120+ industries are included in this service. The company launched the rating of Real Estate Investment Trusts (REITs). A REIT is a corporation or a trust which utilizes the pooled capital of many investors to purchase, and in most cases, operate income-producing real estate such as offices, apartments, shopping complexes, hotels and warehouses. CARE's Rating of REIT fund is an opinion on the REIT's investment quality, based on the fundamental assessment of the REIT. CARE-REIT rating is assigned on a five-point scale from 1 to 5, with 'CARE: REIT-1' indicating highest investment quality and 'CARE:REIT-5' indicating poor investment quality. The company also launched grading of tourism facilities for Government of Karnataka where a rating by an entity would be eligible for concessions from the government. During the year under review, CARE Kalypto Risk Technologies and Advisory Services Private Limited procured highest ever order in its history. Through the competitive bidding process, it acquired order from the largest commercial bank in Sri Lanka viz. Bank of Ceylon (BOC) for Enterprise Risk Management Solutions. CARE Ratings (Africa) Private Limited (CRAF) is incorporated in Mauritius and is the first credit rating agency to be licensed by the Financial Services Commission of Mauritius w.e.f. May 7, 2015. CRAF commenced operations in August 2015 and has completed its first assignment. The other significant development has been the MoU with Japan Credit Rating Agency (JCR). The MoU talks of the two agencies working together closely to further mutual interests. As there are several Japanese companies operating in India, JCR would be encouraging them to get a rating from CARE in case any funding has to be procured from India. Similarly, the Japanese market has become important in the context of the interest rate differential between the two countries and CARE may refer company's seeking to raise funds from Japanese market to JCR. During financial year ended 31 March 2017, the company added 4,676 new clients. During the year, the total number of assignments rated by the company increased by 33.2%. This was mainly due to increase in number of assignments on account of long term rating and number of assignments in the miscellaneous category which includes SME ratings among others. However, the number of assignments decreased for bank facility ratings by 3.5%. The total volume of debt rated increased from Rs 10.85 lakh crore to Rs 13.18 lakh crore. The increase was mainly attributed to increase in volumes rated in the short, long term categories and bank facility ratings. In terms of volume of debt rated, the long term assignments witnessed an increase in share from 39% to 45.3% while that of bank facilities came down from 50.2% to 45%. During the year, CARE Ratings launched the Green Initiative Rating (GIR) aimed at measuring the green initiatives of entities beyond the basic compliance requirements. A risk assessment by an independent entity such as a credit rating agency would enable the lenders, the investors and the society at large to understand the initiatives undertaken by the company beyond minimum requirement for minimizing the adverse impact caused by the units' economic activity on the environment with focus on sustainability. Recognising the need for independent evaluation of cooperative banks, the company also developed the Cooperative Banks Financial Strength Grading. The product would focus on the financial strength/capability of a co-operative bank in long-term as well as short term. It indicates bank's intrinsic safety and soundness. The company started the CARE Executive Training Programme (CETP); conducting its first training programme on Fundamentals of Corporate Credit on 19 May 2016 at Mumbai. The company also signed a MoU subject to regulatory approvals in India and Nepal with Vishal Group Limited and Emerging Nepal Limited to start a credit rating agency in Nepal to be called CARE Ratings (Nepal) Limited. As per the terms of the MoU, CARE Ratings will hold 51% of the equity of NR 5 crore while Vishal group will own 19% and Emerging Nepal Limited 10%. The balance 20% will be held by banks, insurance companies, FIs and corporate bodies in Nepal subject to a maximum of 9% per legal entity. CARE Ratings (Africa) Private Limited (CRAF) got the recognition from Bank of Mauritius (BoM) as an External Credit Assessment Institution (ECAI) for all market segments w.e.f. May 9, 2016. Further, The African Development Bank has taken up close to 10% stake in CRAF. During the year, CRAF assigned ratings to 7 corporates. CARE Advisory Research and Training Limited is a wholly owned subsidiary of your company which was incorporated on September 6, 2016. CART is in the business of Training, Advisory and Research. It was incorporated with an Authorised Share Capital of Rs. 10 crores and a paid up share capital of Rs. 5 Lakhs. During the year, the company allotted 40,45,450 equity shares of Rs.10/- each at a premium of Rs. 1/- per share amounting to Rs. 4,44,99,950 on a preferential basis to CARE. During the financial year ended 31 March 2018, the company reviewed its efforts required for completion of various activities in the rating process in light of changes in Regulations, Business-Mix and Technological Enhancements. During the year, the total number of rating assignments of the company increased by 2.2%. This was mainly due to a decline in the NSIC-SME segment (under others) even as there was an increase in the number of assignments on account of bank facility ratings and capital market instrument ratings. The total volume of new debt rated increased from Rs. 13.19 lakh crore in 2016-17 to Rs. 16.48 lakh crore in 2017-18. This was mainly due to increase in volume of debt rated across categories such as short & medium term, long term and bank facility ratings. Within short and medium term instrument ratings, commercial paper was the dominant segment which was aided by the dual rating rule brought in by the RBI. CARE Ratings continued to have a focused team on the large and mid-corporate segments which works on both - augmenting the client portfolio through new client addition and maintaining relationships with the existing companies. These two prongs are required to keep the business improving in future. CARE Ratings was the first rating agency to assign rating to the consumer durable securitization in India during the year. During the year, the company also rated Partial guarantee bonds/Co-guarantee structured bonds as well as projects based on Hybrid Annuity Model in road projects. In line with the practices of most of the leading credit rating agencies across the country and the globe, CARE Ratings decided to replace the external rating committee comprising eminent independent professionals with an Internal Rating Committee comprising senior executives from within the ratings team w.e.f. April 1, 2017. As per SEBI guidelines, MD & CEO is not a part of such Rating Committees. CARE, on its website, discloses the rating process that it adopts for rating any instrument or facility. The website also gives a comprehensive insight into the various methodologies adopted by CARE for rating instruments from different industries. Further, key policy documents like CARE's approach to default recognition, suspension policy etc. are also available on the website. The company took advantage of the revised regulatory guidelines that require dual rating of commercial paper when the size of issue during the year is above Rs 1000 cr. This led to an increase in the number of short term instruments rated during the year. In FY17-18, CARE Ratings (Africa) Private Limited (CRAF) expanded its operations and assigned ratings to instruments in both the bond and bank facilities domain aggregating to around MUR 20.0 billion (Mur 9.0 billion in FY17). In October 2017, Bank of Mauritius has published the revised guidelines on The Recognition and Use of External Credit Assessment mapping of CRAF's Ratings has been included in the Guideline. CARE Ratings Nepal Limited (CRNL) is incorporated in Kathmandu, Nepal and is the second credit rating agency to be licensed by the Securities Board of Nepal w.e.f. November 16, 2017. In FY 2017-18, CARE Advisory Research and Training Limited (CART) expended its business offerings beyond TEV and now offer Valuation, Business plan preparation, financial improvement plan, bid process management, LIE services among other services. During the year, CART executed total of 76 Advisory assignments and undertook 9 industry research assignments for clients to assist them in filing Draft Red Herring Prospectus. During the year, CART conducted 13 days of executive classroom trainings on various topics which included customized training for a bank and an NBFC. On 2 February 2018, CART launched on-line Certificate Course in Credit Management (CCCM). In 2017-18, the company's IT initiatives were focused more on upgrading the existing IT infrastructure to support business growth. The company implemented Data Leakage prevention solution to ensure and fortify data security. During the year 2017-18, the company rated Partial guarantee bonds / Co-guarantee structured bonds as well as projects based on Hybrid Annuity Model in road projects. CARE completed multiple IT projects and infrastructure upgradation during the year 2017-18. During the year 2018, CARE Risk Solutions Pvt. Ltd. (100% subsidiary of CARE Ratings), a niche risk management solution provider for banking and financial institutions diversified its product offerings. The Company developed a new product IFRS-9 and Financial Reporting Automation system after surveying that this product has immense market potential. It successfully Implemented IFRS-9 in Sri Lanka and East Africa to leverage the first mover's advantage, which in turn opens up more opportunities for CRS also started incubation in certain key areas like IFRS on cloud for NBFCs and small banks, Artificial machine learning led models for risk management solutions, which enhance accuracy. CARE Ratings carried out securitization of personal loans and consumer durable loans pools of some of fintechs in FY 2018-19. This is based on its understanding of the credit assessment abilities of such platforms, the track record of the originating entities, the actual performance of the underlying loans till date, etc. The ratings volume of the Commercial paper carried out by the company during the year were Rs. 2.86 lakh crore in 2018-19. During FY 2018-19, CART executed more than 200 Advisory assignments in Advisory division. During FY 2018-19, CART undertook around 20 industry research assignments for clients to assist them in filing Draft Red Herring Prospectus in Research division. In Training Division, the company conducted 23 days of executive classroom trainings on various topics, which included customized training for clients. The Company also launched more on-line courses and now has 7 on-line courses live on its trainings portal during the year 2018-19. In FY19, CARE Training under CARE Advisory Research & Training (CART) developed and executed pilot programs such as Stressed Asset Resolution-Challenges and Opportunities, Mastering Trade Finance, ECL under IndAS, Corporate Valuation and Mergers & Acquisitions. CARE Training also executed soft skills training like Business Communication and Effective Sales Training. During the FY19, the Company's subsidiary, Care Ratings (Africa) Private Limited (CRAF) has assigned ratings to 12 corporates of Mauritius including renowned Corporates like The Mauritius Commercial Bank Ltd. [CARE MAU AAA (IS) Stable], Bank One [CARE MAU A+ (IS) Stable], Ciel Limited [CARE MAU AA Stable], CIM Finance Ltd.[CARE MAU AA Stable], Leal & Co. Ltd. [CARE MAU A1+] and ENL Ltd. [CARE MAU A Stable]. In FY18-19, the Company assigned credit ratings to bank facilities and bond issue aggregating to around MUR 21.0 billion. There has been an increase in awareness about the concept of Credit Rating amongst Banks and Corporates and clear understanding of the benefits from such Ratings.

CARE Ratings Ltd Directors Reports

CARE Ratings Ltd Company Background

Najib ShahMEHUL HARSHADRAY PANDYA
Incorporation Year1993
Registered Office4th Floor Godrej Coliseum,Somaiya Hospital Road Sion(E)
Mumbai,Maharashtra-400022
Telephone91-22-67543456,Managing Director
Fax91-22-67543457
Company Secretarynehal shah
AuditorBSR & Co LLP
Face Value10
Market Lot1
ListingBSE,MSEI ,NSE,
RegistrarKFin Techologies Ltd
Karvy Selenium Tow-B,31&32 Financial Dist,Nanakramguda ,Hyderabad-500032

CARE Ratings Ltd Company Management

Director NameDirector DesignationYear
Venkatadri ChandrasekaranIndependent Director2023
Adesh Kumar GuptaNon-Exec. & Independent Dir.2023
Sonal DesaiNon-Exec. & Independent Dir.2023
Najib ShahChairman & Independent Directo2023
M MathisekaranNon-Exec. & Independent Dir.2023
nehal shahCompany Sec. & Compli. Officer2023
MEHUL HARSHADRAY PANDYAManaging Director & CEO2023
Gurumoorthy MahalingamIndependent Director2023
Sobhag Mal JainDirector2023
MANOJ CHUGHAdditional Director2023

CARE Ratings Ltd Listing Information

Listing Information
BSESMALLCA
BSEALLCAP
BSEFINANCE
NFTMICC250
NFTYTOTMKT

CARE Ratings Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Rating IncomeNA000218.6044
Other Operating IncomeNA0000.6685
Fee for Technical Knowhow ServNA0000
Income from OperationNA0000
Sale of PublicationsNA0000
Fee for Advisory ServicesNA0000

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