ICRA Share Price Target 2027: Base and Bull Targets Built on FY26 Earnings

ICRA share price Rs 4,437.10 (9 October 2026). Base target Rs 4,708, bull Rs 5,710, downside risk Rs 3,438. PE 21.14. 52W range Rs 4,198.20 to Rs 6,620.00.

Investors weighing an ICRA target price for 2027 should start with where the stock sits today. At Rs 4,437.10 on 9 October 2026, it is 33.0% below its 52-week high of Rs 6,620.00 and 5.7% above its 52-week low of Rs 4,198.20. That range spans 58% from low to high, so the entry point matters as much as the ICRA price forecast itself.

This article builds the ICRA share price target from reported numbers only: five years of annual results, the last five quarters, the latest shareholding pattern and current valuation ratios from company filings and exchange data. Each scenario shows its assumptions, so you can see exactly how the Rs 4,708 base case and the Rs 5,710 bull case were reached, along with a downside risk level of Rs 3,438.

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ICRA Stock Analysis: Company Overview and Key Stats

ICRA (NSE: ICRA) has a market capitalisation of Rs 4,149 crore. In FY26 it reported revenue of Rs 674.53 crore and net profit of Rs 182.53 crore. The table collects the figures the ICRA share price target is built on.

Metric	Value
Company	ICRA
NSE Ticker	ICRA
CMP (9 October 2026)	Rs 4,437.10
52-Week High	Rs 6,620.00
52-Week Low	Rs 4,198.20
Market Cap	Rs 4,149 crore
PE Ratio (TTM)	21.14
Industry PE	33.32
Price to Book	3.51
Return on Equity	15.37%
Debt to Equity	0.02
EPS (TTM)	Rs 203.32
Dividend Yield	2.44%
12-Month Base Target	Rs 4,708
Bull Case	Rs 5,710
Downside Risk Level (not a target)	Rs 3,438

Why Is ICRA Share Price Target Set at Rs 4,708 for 2027?

The base-case ICRA stock target of Rs 4,708 applies a PE multiple of 21.14 to a forward EPS estimate of Rs 222.69. That EPS assumes 9.5% yearly growth, the pace from FY24 to FY26, and puts the target 6.1% above the current price. The bull case adds faster earnings growth and a higher multiple, while the downside risk level assumes flat earnings and a lower multiple.

Earnings Growth Behind the ICRA Target Price: Five Years of Results

ICRA grew revenue from Rs 383.68 crore in FY22 to Rs 674.53 crore in FY26, a compound annual growth rate of 15.1%. Net profit grew more slowly, from Rs 113.53 crore to Rs 182.53 crore (12.6% a year), which points to margin pressure alongside the sales growth.

Financial Year	Revenue (Rs Cr)	Net Profit (Rs Cr)	EPS (Rs)	Dividend per Share (Rs)
FY22	383.68	113.53	116.74	28.00
FY23	452.78	136.73	140.59	130.00
FY24	521.08	152.24	156.99	100.00
FY25	575.43	171.20	176.50	60.00
FY26	674.53	182.53	188.32	105.00

FY26 revenue growth was 17.2%, faster than the four-year average of 15.1%, and net profit moved up 6.6%. EPS rose from Rs 156.99 in FY24 to Rs 188.32 in FY26. The FY27 outlook depends on whether that EPS estimate keeps compounding.

Margins and the Latest Quarter

ICRA converted 27.1% of FY26 revenue into net profit, against 29.8% in FY25, within a five-year range of 27.1% to 30.2%. EBITDA margin was 42.0% in FY26 versus 44.3% in FY25.

In the June 2026 quarter, revenue was Rs 191 crore, up 28.3% from the same quarter a year earlier, while net profit of Rs 56.46 crore was up 32.0%. EBITDA came in at Rs 82.72 crore, up 29.0% year on year. The next quarterly result is the first test of whether the earnings assumption holds.

Balance Sheet and Cash Flow

Debt to equity stands at 0.02, and shareholders’ equity grew from Rs 847.72 crore in FY22 to Rs 1,185 crore in FY26. Operating cash flow in FY26 was Rs 157.26 crore against capital expenditure of Rs 12.49 crore, leaving free cash flow of Rs 144.77 crore, or 3.5% of the current market capitalisation. In FY25 free cash flow was Rs 132.48 crore.

Valuation Check for the ICRA Stock Target: PE, Price to Book and ROE

At a PE of 21.14 against an industry PE of 33.32, ICRA trades at a discount to its industry. Price to book is 3.51 on a book value of Rs 1,223.41 per share, and return on equity is 15.37%. A PE of 21.14 equals an earnings yield of 4.7%, and the FY26 dividend of Rs 105.00 per share gives a yield of 2.44%.

Shareholding Pattern and Institutional Holding

Promoters held 51.87% of ICRA in June 2026, and promoter holding has stayed near 51.87% since June 2025. Foreign institutional investors (FII) held 6.90% and domestic institutions (DII) held 24.27%, which puts total institutional holding at 31.17%. FII holding fell from 8.66% in June 2025 to 6.90% in June 2026. Public shareholders own the remaining 16.96%. A meaningful institutional holding adds a layer of research coverage and trading depth.

ICRA Share Price Targets for the Short Term and 12 Months

Short Term ICRA Stock Target Levels: Technical Setup

At Rs 4,437.10 on 9 October 2026, ICRA trades below its 50-day simple moving average of Rs 4,781.95 and below its 200-day exponential moving average of Rs 5,258.14. The 14-day RSI reads 42.6, which is neutral territory, and the MACD line sits above its signal line. The nearest resistance level is Rs 4,781.95 (50-day simple moving average) and the nearest support is Rs 4,198.20 (52-week low). A sustained move above Rs 4,781.95 would improve the short-term setup, while a close below Rs 4,198.20 would shift attention to the next support.

12 Month ICRA Target Price for 2027

The 12-month target for ICRA is Rs 4,708: forward EPS of Rs 222.69 at a PE of 21.14. That is 6.1% above Rs 4,437.10. It would still leave the stock 28.9% below its 52-week high of Rs 6,620.00.

How EPS Growth and PE Multiple Change the ICRA Target Price

EPS Growth	PE 16.91	PE 21.14	PE 24.31
0.0% (EPS Rs 203.32)	Rs 3,438	Rs 4,298	Rs 4,943
9.5% (EPS Rs 222.69)	Rs 3,766	Rs 4,708	Rs 5,414
15.5% (EPS Rs 234.88)	Rs 3,972	Rs 4,965	Rs 5,710

Each cell multiplies the forward EPS estimate by the PE shown. Reading across a row shows what a de-rating or re-rating does to the ICRA price forecast, and reading down a column shows what earnings growth is worth at a fixed multiple.

Bull Case and Downside Risk for ICRA Stock Target in 2027

Bull Case Rs 5,710

The bull case ICRA price target needs EPS growth of 15.5%, which lifts forward EPS to Rs 234.88, and a PE multiple that rises 15% to 24.31. That gives Rs 5,710, 28.7% above the current price and below the 52-week high of Rs 6,620.00.

Downside Risk Level Rs 3,438

The downside risk level is not a target. It assumes EPS stays flat at Rs 203.32 and the PE falls 20% to 16.91. That gives Rs 3,438, 22.5% below the current price and below the 52-week low of Rs 4,198.20.

Scenario	EPS Growth	PE Multiple	Price (Rs)	Change vs CMP
Bull Case	15.5%	24.31	Rs 5,710	+28.7%
Base Case	9.5%	21.14	Rs 4,708	+6.1%
Downside Risk	0.0%	16.91	Rs 3,438	-22.5%

Key Risks to the ICRA Target Price for 2027

Growth Slowdown Risk for the ICRA Price Target

Revenue in the June 2026 quarter was up 28.3% year on year, and FY26 revenue growth was 17.2%. If growth slows from here, the EPS estimate behind the ICRA stock target will need revising.

Liquidity and Size Risk

ICRA has a market capitalisation of Rs 4,149 crore. Institutional holding is 31.17%, and promoters hold 51.87%. Stocks of this size can move sharply on small volumes, and exits can take longer than entries.

Valuation and Margin Risk

Net margin was 27.1% in FY26, and a squeeze from higher costs or weaker pricing would hit earnings first. At a PE of 21.14 versus an industry PE of 33.32, a de-rating toward the downside-risk PE of 16.91 would cut the price even if earnings hold.

Market and Technical Risk

The stock trades 33.0% below its 52-week high, with an RSI of 42.6 and a MACD reading above its signal line. Broader market weakness can override company fundamentals in the short term.

How to Invest in ICRA

Start with the live price and volume. Any ICRA share price target is only as current as the data behind it, and the data here is as of 9 October 2026, so refresh the Rs 4,437.10 price before acting on any level.

Next, review the fundamentals yourself. The Univest Screener lets you check ICRA’s PE, ROE, debt and shareholding in one place.

Check ICRA fundamentals on the Univest Screener

Then compare the three ICRA target price scenarios with your own view. If you expect EPS growth below 9.5%, the base case is too optimistic for you; if you expect more, the bull case deserves weight.

Decide your position size and exit levels before you buy. The support and resistance levels above can serve as reference points, but they are not recommendations.

Finally, place the order through a SEBI-registered broker or the Univest app, and review the position after each quarterly result. Consult a SEBI-registered advisor if you are unsure.

Download the Univest iOS App or Univest Android App to track ICRA live price and get daily stock recommendations.

Conclusion

The ICRA share price target for 2027 is Rs 4,708 in the base case, with Rs 5,710 as the bull case. The support for that view is arithmetic you can check: EPS grew 9.5% a year over FY24 to FY26, and the stock trades at a PE of 21.14. The risks are equally concrete, including a stock that sits 33.0% below its 52-week high and a downside scenario that cuts the price 23% if earnings stall. Use these numbers as a framework, check them against the latest filings, and size any position to your own risk appetite.

FAQs on ICRA Share Price Target 2027

What is the ICRA share price target for 2027?

Ans. The base-case ICRA share price target for 2027 is Rs 4,708, with Rs 5,710 as the bull case. The downside risk level, which is not a target, is Rs 3,438. These are model estimates from reported earnings and the current PE, not guaranteed outcomes.

What is the ICRA share price today?

Ans. As of 9 October 2026, 3:29 PM IST, ICRA trades at Rs 4,437.10, up 3.20% on the day. The 52-week range is Rs 4,198.20 to Rs 6,620.00.

Is ICRA a buy or sell at the current price?

Ans. The data is mixed rather than one-sided: EPS has grown 9.5% a year over FY24 to FY26, but the stock is 33.0% below its 52-week high. Whether ICRA fits your portfolio depends on your time horizon and risk appetite, so consult a SEBI-registered advisor before investing. This article is not investment advice.

What are the bull case target and downside risk level for ICRA shares?

Ans. The bull case target is Rs 5,710, which assumes 15.5% EPS growth and a PE of 24.31. The downside risk level is Rs 3,438, which assumes flat EPS and a PE of 16.91. It marks a risk, not a target.

What are the main risks to the ICRA price target?

Ans. The main risks are slower revenue growth, a small market capitalisation of Rs 4,149 crore, a PE de-rating and short-term weakness in the broader market. Each is covered in the risk section above.

What is the PE ratio of ICRA and how does it compare with the industry?

Ans. The PE ratio of ICRA is 21.14 against an industry PE of 33.32. Price to book is 3.51 and return on equity is 15.37%. The base case in the ICRA price target holds this PE constant.

Who owns ICRA, and what is the promoter holding?

Ans. Promoters held 51.87% of ICRA in June 2026. FII held 6.90%, DII held 24.27% and the public held 16.96%.

What were ICRA’s latest quarterly results?

Ans. In the June 2026 quarter, ICRA reported revenue of Rs 191 crore (up 28.3% year on year) and net profit of Rs 56.46 crore (up 32.0%).