ICRA Q2 Results FY27 Preview: Results Date, Expectations and the Numbers That Will Decide the September 2026 Quarter

The ICRA Q2 results FY27 announcement is the next scheduled earnings event for ICRA Ltd., a credit rating agency majority owned by Moody's, which rates debt issuers and instruments in India and also runs analytics, research, risk management and knowledge services businesses. The stock traded at Rs 4,775.00 on the NSE on 10 September 2026, down 0.97% from the previous close of Rs 4,822.00, about 34.1% below its 52-week high of Rs 7,250.00 and 1.8% above its 52-week low of Rs 4,692.00.

What makes the ICRA Q2 results print worth watching is the base it faces. The September 2025 quarter delivered Rs 137.00 crore of revenue and a profit of Rs 48.00 crore, while the most recent quarter on record, Q1 FY27, produced Rs 163.00 crore and a profit of Rs 56.00 crore. Everything below is built from those reported figures rather than from any forecast.

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When Is the ICRA Q2 Results FY27 Date?

The ICRA Q2 results date for FY27 is not confirmed. As of 10 September 2026, ICRA Ltd. had not filed a board meeting intimation with the NSE or BSE for the September 2026 quarter, so any date circulating before that filing appears should be treated as unverified.

What can be stated is the regulatory boundary. Listed companies in India must publish quarterly results within 45 days of the end of the quarter, which places the outer deadline for the September 2026 quarter at 14 November 2026. Companies also have to give the exchanges prior intimation of the board meeting that approves the results, so the ICRA Q2 results date becomes public through that filing rather than through any advance announcement.

The ICRA Q2 results FY27 print covers 1 July 2026 to 30 September 2026. Small and mid-cap companies more often report in the second half of that window than in the first, so late October or early November is the range to watch for ICRA.

ICRA Q2 Results Expectations: What the Market Is Actually Tracking

No verified analyst estimate for the ICRA Q2 results FY27 quarter is in the public domain, so no revenue or profit figure should be assumed for ICRA. The ICRA Q2 results watchlist below is built from what the company has actually reported and disclosed.

The first is revenue, which was Rs 137 crore in September 2025 against Rs 163 crore in Q1 FY27, a gap of about 19%. Revenue stepped up 20% between September and December 2025 after eight quarters inside a Rs 103 crore to Rs 137 crore range.

The second is the operating margin, which was 36% in September 2025 and 34% in Q1 FY27. March 2026 was the peak at 40%, and the series has otherwise held between 32% and 36%.

The third is the other income line, which has been moving the reported figure more than operations have. It fell from Rs 21 crore in September 2025 to Rs 9 crore in December 2025, which is why net profit dropped to Rs 39 crore even as revenue rose 20%, and it then reached Rs 32 crore in June 2026, 58% of that quarter's operating profit.

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ICRA Q2 Results Preview: The Q1 FY27 Actuals It Builds On

ICRA Ltd. reported revenue of Rs 163.00 crore in Q1 FY27, up 31.45% from Rs 124.00 crore in Q1 FY26, and a profit of Rs 56.00 crore at the net level, up 30.23% from Rs 43.00 crore in Q1 FY26. These are reported actuals, not estimates.

Sequentially, revenue was down 6.86% over the March 2026 quarter figure of Rs 175.00 crore, and net profit was up 5.66% from Rs 53.00 crore in Q4 FY26. Operating margin stood at 34% in Q1 FY27 against 36% in the September 2025 quarter, which is the comparison the ICRA Q2 results print will be read against.

Q2 FY26 Base: The Comparison ICRA Q2 Results FY27 Must Beat

ICRA Ltd. reported revenue of Rs 137.00 crore and a profit of Rs 48.00 crore in Q2 FY26, the September 2025 quarter. That is the year-ago base against which the September 2026 numbers will be judged, and it is the single most useful figure in this ICRA Q2 results preview.

Net profit in that base quarter was below the Rs 56.00 crore just reported for Q1 FY27, so the year-on-year comparison starts from a manageable level. Revenue of Rs 137.00 crore sits below the Rs 163.00 crore of the June 2026 quarter, which frames how much sequential movement the ICRA Q2 results print needs to show growth.

ICRA Quarterly Results Trend Over the Last Four Quarters

Quarter	Revenue (Rs Cr)	Net Profit (Rs Cr)
Q2 FY26 (Sep 2025)	137.00	48.00
Q3 FY26 (Dec 2025)	164.00	39.00
Q4 FY26 (Mar 2026)	175.00	53.00
Q1 FY27 (Jun 2026)	163.00	56.00

Figures in brackets denote negative numbers. All four quarters above are reported actuals taken from the company's exchange filings, and they are the only basis this ICRA Q2 results preview uses.

Revenue across those four quarters ranged from Rs 137.00 crore to Rs 175.00 crore, and net profit from Rs 39.00 crore to Rs 56.00 crore. That spread is the honest context for the ICRA Q2 results FY27 print, and it is why a single quarter should not be read as a trend on its own.

Key Factors That Could Shape ICRA Q2 Results FY27

The ICRA Q2 results outcome will turn on a small number of company-specific variables rather than on broad market conditions. The three below are the ones visible in what ICRA has already reported.

Rating Volume Follows Bond Issuance

Fees are earned when issuers come to market and when outstanding ratings are surveilled, so revenue tracks corporate bond and bank loan issuance. Periods of heavy refinancing lift the fee pool; a quiet primary market does the opposite.

The December 2025 Step Needs Reading Carefully

Revenue jumped from Rs 137 crore to Rs 164 crore in that quarter and depreciation more than doubled from Rs 4 crore to Rs 10 crore at the same time. Both moves landing together is consistent with a change in what is being consolidated rather than with ordinary growth.

The Balance Sheet Is Effectively Debt Free

Borrowings of Rs 18 crore sit against reserves of Rs 1,171 crore, a debt to equity ratio of 0.02. Return on capital employed is 23.0% and return on equity 16.7%, with the effective tax rate stable at 25% to 29% across all five quarters.

ICRA Q2 Results FY27: Share Price and Valuation Going Into the Print

ICRA share price today is Rs 4,775.00 on the NSE, down Rs 47.00 or 0.97% from the previous close of Rs 4,822.00 on 10 September 2026, ahead of the ICRA Q2 results announcement.

Metric	Value (10 September 2026)
NSE Symbol	ICRA
Current Market Price	Rs 4,775.00
52-Week High	Rs 7,250.00
52-Week Low	Rs 4,692.00
Market Capitalisation	Rs 4,611 crore
PE Ratio	23.50
PB Ratio	3.90
EPS (TTM)	Rs 203.23
Book Value per Share	Rs 1,223.00
Debt to Equity	0.02
Return on Equity	16.7%
50-Day Moving Average	Rs 5,034.11
200-Day Moving Average	Rs 5,490.46
RSI (14)	38.38

The stock trades below both its 50-day average of Rs 5,034.11 and its 200-day average of Rs 5,490.46, with a 14-day RSI of 38.38. None of this is a view on where the shares go once the ICRA Q2 results are announced, and no price target is offered here.

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What Investors Should Watch When ICRA Q2 Results Are Announced

Four lines carry most of the information in a company of this size, and reading them in order keeps the ICRA Q2 results print in proportion.

1. Revenue against the Rs 137.00 crore reported in the September 2025 base quarter
2. Net profit against a profit of Rs 48.00 crore in that same quarter
3. Operating margin against 34% in Q1 FY27
4. Any exceptional item, provision or one-off gain disclosed alongside the numbers

A one-off gain or provision can move the reported profit far more than operations do in a company this size, which is why the ICRA Q2 results announcement should be read together with the notes to the results rather than the headline alone.

Conclusion on ICRA Q2 Results FY27

The ICRA Q2 results date is not confirmed, and 14 November 2026 is the statutory outer limit rather than an expected date. ICRA Ltd. will make the schedule public through a board meeting intimation to the exchanges, and until then the September 2026 quarter can only be framed by what has already been reported.

On that basis the ICRA Q2 results FY27 print faces a base of Rs 137.00 crore in revenue and a profit of Rs 48.00 crore, with the most recent quarter having delivered Rs 163.00 crore and a profit of Rs 56.00 crore. No numerical estimate appears in this preview because no verified consensus figure exists for ICRA, and readers should treat any preview that supplies one with caution. Verify every figure against the company filing on release and consult a SEBI-registered advisor before acting on quarterly earnings.

FAQs on ICRA Q2 Results FY27

What is the ICRA Q2 results date for FY27?

Ans. The ICRA Q2 results date for FY27 is not confirmed. ICRA Ltd. had not filed a board meeting intimation with the NSE or BSE as of 10 September 2026. Indian listing rules require the September 2026 quarter results to be published by 14 November 2026 at the latest.

What quarter do the ICRA Q2 results 2026 cover?

Ans. The ICRA Q2 results FY27 cover 1 July 2026 to 30 September 2026, known as the September 2026 quarter. ICRA Ltd. reports revenue, operating profit and net profit for that period, and the ICRA Q2 results filing also carries the notes to the accounts.

What were the ICRA Q1 FY27 results?

Ans. ICRA Ltd. reported revenue of Rs 163.00 crore in Q1 FY27 and a profit of Rs 56.00 crore at the net level. Revenue was up 31.45% versus Q1 FY26 and net profit was up 30.23% from Rs 43.00 crore in Q1 FY26.

What were ICRA Q2 FY26 results in the September 2025 quarter?

Ans. ICRA Ltd. reported revenue of Rs 137.00 crore and a profit of Rs 48.00 crore in Q2 FY26. Operating margin was 36%. Those figures form the base for the ICRA Q2 results FY27 comparison.

What are the main ICRA Q2 results expectations this quarter?

Ans. No verified analyst estimate is publicly available. The ICRA Q2 results expectations centre on revenue against the Rs 137.00 crore base, net profit against a profit of Rs 48.00 crore, operating margin against 34% in Q1 FY27, and any exceptional item disclosed with the numbers.

What is ICRA share price today ahead of the Q2 earnings?

Ans. ICRA share price is Rs 4,775.00 on the NSE as of 10 September 2026, down 0.97% from Rs 4,822.00. The stock is about 34.1% below its 52-week high of Rs 7,250.00 and 1.8% above its 52-week low of Rs 4,692.00, at a market capitalisation of Rs 4,611 crore.

Is ICRA a good stock to buy before the Q2 results?

Ans. This article does not offer a buy, sell or hold recommendation on ICRA Ltd. The stock trades at a price-to-book ratio of 3.90 with a return on equity of 16.7%. Assess the reported numbers when they are released and consult a SEBI-registered financial advisor before making any decision.