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CARE Ratings Limited: Business Overview, Financials & Competitive Analysis

CARE Ratings Limited scores 7/10 on the AskCyborg Cyborg Score (Strong). India's second-largest credit rating agency with strong earnings growth, international expansion, and diversified revenue streams positioned for sustained market leadership. Net profit of CARE Ratings rose 24.36% to Rs 25.78 crore in the quarter ended June 2025 as against Rs 20.73 crore during the previous quarter ended June 2024.

What is CARE Ratings Limited's industry? CARE Ratings Limited (careratings.com) operates in Credit Rating Agencies & Financial Services. AskCyborg classifies CARE Ratings Limited under Credit Rating Agencies & Financial Services in its company registry.

Established in 1993, CARE Ratings Ltd. is India's second-largest rating agency, with a credible track record of rating companies across diverse sectors and holding leadership positions in high-growth sectors such as B...

7/ 10Strong

Cyborg Score thesis

India's second-largest credit rating agency with strong earnings growth, international expansion, and diversified revenue streams...

Read the full analyst-debate transcript →
Industry Credit Rating Agencies & Financial Services
3 named competitors
3 recent developments
11 analyst dimensions
Synthesized from analyst-debate stress-testing across 11 dimensions and hundreds of data points. Methodology →
Cyborg Score recalibrated: September 21, 2026
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CARE Ratings Limited OverviewStrategic ProfileCompetitive LandscapeIndustry ContextKey facts
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CARE Ratings Limited Overview

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Established in 1993, CARE Ratings Ltd. is India's second-largest rating agency, with a credible track record of rating companies across diverse sectors and holding leadership positions in high-growth sectors such as BFSI and Infra. The Company provides various credit ratings that helps corporates to raise capital for their various requirements and assists investors to form an informed investment decision based on the credit risk and their own risk-return expectations.

Strategic Profile

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The company operates through multiple subsidiaries including CARE Ratings (Africa) Private Limited, CARE Ratings Nepal Limited, CARE ESG Ratings Limited, and CareEdge Global IFSC Limited, offering rating services tailored to diverse markets. Management's strategic focus on enhancing operational efficiency through technology and a commitment to high-quality research has positioned the company to capitalize on emerging opportunities, particularly in the analytics and advisory segments.

Competitive Landscape

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CARE Ratings is India's second-largest rating agency, competing primarily with ICRA and Crisil in the domestic credit rating market. The company differentiates through international presence, specialized ESG and analytics services, and strong positioning in BFSI and infrastructure sectors.

Industry Context

CARE Ratings Limited operates in Credit Rating Agencies & Financial Services.

Key facts

Founded: 1993 · Headquarters: Mumbai, India · Employees: 636 · Market cap: ₹4,820 Cr

What the analysts stress-tested

The top findings that survived the multi-agent debate for CARE Ratings Limited.

  • In FY25, the company demonstrated robust financial performance, achieving significant growth in income and operating profit despite a challenging macroeconomic backdrop.
  • The company is optimistic about future demand, especially in ESG services, where initial investments are expected to yield long-term benefits.
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Recent developments

Material events tracked by the AskCyborg corpus.

  • February 2026Attending IIFL Entrepreneurial India conference; cautionary letter issued for incorrect client ISIN with no financial impact
  • January 2025Allotted 16,834 equity shares under ESOS
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Named competitors

Pulled from the analyst-debate framework. Click any competitor to see their Cyborg Score.

Credit RatingsIndia's leading credit rating agency→Credit RatingsIndia's largest credit rating agency→Analytics & AdvisoryInternational rating and advisory services→

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Industry context

CARE Ratings Limited operates in Credit Rating Agencies & Financial Services. See how the rest of the sector scores on the Cyborg framework.

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Every report is stress-tested by a panel of AI analysts arguing across 11 dimensions. The output is the part of the case that survived pushback.

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The framework, dimensions, and band breakdowns are documented. The same company gets the same score from any analyst running the framework.

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Sources: public filings, regulatory data, news flow, and proprietary analyst signals. Read the methodology →

Frequently asked questions

What does CARE Ratings Limited do?+
Established in 1993, CARE Ratings Ltd. is India's second-largest rating agency, with a credible track record of rating companies across diverse sectors and holding leadership positions in high-growth sectors such as B...
What is CARE Ratings Limited's Cyborg Score?+
CARE Ratings Limited has a Cyborg Score of 7/10 (Strong). The score synthesizes business model, financials, leadership, competitive position, technology, marketing, and ESG dimensions across hundreds of data points.
Who are CARE Ratings Limited's main competitors?+
Named competitors include Credit Ratings, Credit Ratings, Analytics & Advisory. The full competitive landscape is in the AskCyborg report.
How can I get the full CARE Ratings Limited research report?+
Get the report plus analyst-debate audio at askcyborg.com -- no credit card required for preview access. Pro adds saved-company audio playlists and monitoring.
How current is the CARE Ratings Limited research?+
The Cyborg Score is recalibrated weekly. Recent developments are tracked continuously and surfaced in every report.

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