3 Fundamentally Strong Credit Rating Agency Stocks in India
- August 21, 2026
- Posted by: Kunal Singla
- Category: Market
Credit Rating Agencies sector stocks. CRISIL Ltd CMP Rs 4500.64 | PE 37.22 | ROE 27.03%. ICRA Ltd PE 24.05 | ROE 15.37%. CARE Ratings Ltd PE 28.49.
Quick Answer
Three credit rating agency stocks in India are CRISIL Ltd (MCap Rs 32,917 Cr, PE 37.22, ROE 27.03%), ICRA Ltd (MCap Rs 4,719 Cr, PE 24.05, ROE 15.37%), and CARE Ratings Ltd (MCap Rs 5,133 Cr, PE 28.49, ROE 18.36%). Each covers a distinct sub-segment of the credit rating agencies sector with different risk-reward profiles. Verify all data at nseindia.com or bseindia.com before making any investment decision.
Identifying the right credit rating agency stocks in India requires looking beyond short-term price movements and focusing on balance sheet strength, earnings consistency and sector positioning. Track the Nifty Fin Service index alongside individual stock analysis for a complete picture of credit rating agencies sector momentum.
This article covers three credit rating agency stocks in India with their key financial metrics. All figures are sourced from publicly available exchange disclosures. Verify every data point at nseindia.com or bseindia.com before making any investment decision.
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What Are Credit Rating Agencies Stocks in India?
Credit rating agency stocks in India are shares of companies that assess the creditworthiness of issuers of debt instruments and assign ratings that guide investor decisions. CRISIL, ICRA and CARE Ratings are the three primary listed rating agencies in India, all with established methodologies and significant market share.
Budget 2026-27 Impact on Credit Rating Agencies Stocks in India
The Union Budget 2026-27 shaped the investment environment for credit rating agency stocks in India through the following provisions:
- Bond market deepening and corporate debt issuance growth directly drives rating volumes for all three agencies.
- SEBI mandates for MSME credit ratings create a new revenue segment for rating agencies.
- Municipal bond market development requires rating coverage, creating new business for agencies.
- Infrastructure debt financing through InvITs and other structures requires ongoing surveillance ratings.
- Digital lending regulation requiring creditworthiness assessment creates volume growth for rating agencies.
3 Fundamentally Strong Credit Rating Agencies Stocks in India: Key Data
| Company | CMP (Rs) | MCap (Rs Cr) | PE | PB | ROE | EPS TTM (Rs) | Div. Yield |
|---|---|---|---|---|---|---|---|
| CRISIL Ltd (NSE: CRISIL) | Rs 4500.64 | 32,917 | 37.22 | 10.06 | 27.03% | 120.92 | 1.33% |
| ICRA Ltd (NSE: ICRA) | Rs 4889.85 | 4,719 | 24.05 | 4.00 | 15.37% | 203.32 | 2.15% |
| CARE Ratings Ltd (NSE: CARERATING) | Rs 1705.98 | 5,133 | 28.49 | 5.51 | 18.36% | 59.88 | 1.29% |
Data sourced from publicly available exchange filings. Verify all figures at nseindia.com before investing.
1. CRISIL Ltd (NSE: CRISIL)
CRISIL Ltd was founded in 1987 and is headquartered in Mumbai. It is one of three credit rating agency stocks in India covered in this article and trades at Rs 4500.64, with a market capitalisation of Rs 32,917 crore. The PE ratio stands at 37.22 against an industry average of 33.76, return on equity is 27.03%, EPS (TTM) Rs 120.92 and book value Rs 447.34. Dividend yield is 1.33%.
The company carries a debt-to-equity of 0.10 and price-to-book of 10.06. Investors should verify all figures directly at nseindia.com or bseindia.com before making any investment decision related to this or any other stock.
2. ICRA Ltd (NSE: ICRA)
ICRA Ltd was founded in 1991 and is headquartered in Gurugram. It is one of three credit rating agency stocks in India covered in this article and trades at Rs 4889.85, with a market capitalisation of Rs 4,719 crore. The PE ratio stands at 24.05 against an industry average of 33.76, return on equity is 15.37%, EPS (TTM) Rs 203.32 and book value Rs 1223.41. Dividend yield is 2.15%.
The company carries a debt-to-equity of 0.02 and price-to-book of 4.00. Investors should verify all figures directly at nseindia.com or bseindia.com before making any investment decision related to this or any other stock.
Compare Credit Rating Agencies Stocks by PE, ROE and Dividend Yield on the Univest Screener
3. CARE Ratings Ltd (NSE: CARERATING)
CARE Ratings Ltd was founded in 1993 and is headquartered in Mumbai. It is one of three credit rating agency stocks in India covered in this article and trades at Rs 1705.98, with a market capitalisation of Rs 5,133 crore. The PE ratio stands at 28.49 against an industry average of 33.76, return on equity is 18.36%, EPS (TTM) Rs 59.88 and book value Rs 309.82. Dividend yield is 1.29%.
The company carries a debt-to-equity of 0.03 and price-to-book of 5.51. Investors should verify all figures directly at nseindia.com or bseindia.com before making any investment decision related to this or any other stock.
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Factors That Affect Credit Rating Agencies Stocks in India
- Interest rate environment: RBI policy changes affect cost of capital and consumer demand relevant to credit rating agencies companies.
- Government capex: Budget allocations shape order books and revenue visibility for credit rating agency stocks in India.
- Input cost movements: Raw material inflation or deflation affects operating margins for credit rating agency stocks in India within a single quarter.
- FII and DII flows: Institutional buying and selling creates short-term price volatility that may not reflect underlying fundamentals of credit rating agency stocks in India.
- Global sector trends: Technology shifts, export demand changes and competitive dynamics influence long-term earnings of credit rating agency stocks in India.
Benefits of Investing in Fundamentally Strong Credit Rating Agencies Stocks
- Earnings consistency: credit rating agency stocks in India with strong fundamentals across PE, ROE and EPS metrics have historically delivered more predictable earnings growth than low-quality peers.
- Lower downside risk: Fundamentally strong credit rating agency stocks in India with manageable debt and positive free cash flow tend to recover faster from market corrections than highly leveraged peers.
- Dividend income potential: Several credit rating agency stocks in India with strong fundamentals maintain consistent dividend track records, adding an income layer alongside capital appreciation.
- Index inclusion benefits: Large-cap credit rating agency stocks in India included in major indices receive mandatory passive investment flows from index funds and ETFs.
- Regulatory advantage: Established credit rating agency stocks in India with clean governance records have easier access to capital markets and face lower regulatory disruption risk.
Risks of Investing in Credit Rating Agencies Stocks
- Sector cyclicality: Credit Rating Agencies stocks can experience multi-quarter earnings pressure during economic downturns or policy headwinds. credit rating agency stocks in India are not immune to sector-level cycles.
- Valuation compression: High-PE credit rating agency stocks in India can de-rate sharply when earnings miss expectations or when sector sentiment turns negative.
- Competition risk: Domestic and international competition can erode market share or pricing power for even fundamentally strong credit rating agency stocks in India over time.
- Regulatory changes: Policy shifts in taxation, import duties or sector regulation can affect profitability of credit rating agency stocks in India with limited advance warning.
- Execution risk: For project-based credit rating agency stocks in India, delayed execution or working capital pressure can affect quarterly earnings significantly.
How to Choose Fundamentally Strong Credit Rating Agencies Stocks
- Screen for PE ratios in line with or below the sector average; any premium PE among credit rating agency stocks in India requires earnings growth justification
- Target ROE consistently above 12% for at least three consecutive years to confirm durable profitability
- Check debt-to-equity below 1 for most credit rating agency stocks in India and below 2 for capital-intensive or financial credit rating agency stocks in India
- Verify dividend payment history as a signal of management’s confidence in free cash flow generation
- Cross-reference with the latest quarterly results to confirm fundamentals are moving in the right direction
Conclusion
CRISIL Ltd, ICRA Ltd and CARE Ratings Ltd are three credit rating agency stocks in India representing distinct positioning within the credit rating agencies sector. CRISIL Ltd trades at Rs 4500.64 with PE 37.22 and ROE 27.03%; ICRA Ltd at Rs 4889.85 with PE 24.05; and CARE Ratings Ltd at Rs 1705.98 with PE 28.49. Each of these credit rating agency stocks in India carries distinct risks requiring individual evaluation. This article is for educational purposes only. Consult a SEBI-registered financial advisor before investing.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
FAQs
Is CRISIL a good rating agency stock?
Ans. CRISIL is India’s premier credit rating agency and is a subsidiary of S&P Global. It has diversified into research, analytics and risk solutions beyond pure ratings. Its ROE of 27.03% and consistent dividend payment make it a quality business in the financial services sector.
What is the difference between CRISIL, ICRA and CARE?
Ans. CRISIL is an S&P Global subsidiary with the broadest product range including research and consulting. ICRA is a Moody’s subsidiary focused on credit ratings and research. CARE Ratings is independent and has a strong presence in mid-market debt ratings.
How do credit rating agencies make money?
Ans. Rating agencies charge fees to debt issuers for initial ratings and annual surveillance. Large issuers with multiple instruments pay recurring fees. Rating agencies also earn from research subscriptions, regulatory compliance services and customised analytics.
