Care Ratings Ltd · NSE:CARERATING
Care Ratings — Q4 FY26 Earnings Presentation
22 slides from Care Ratings's earnings presentation, May 2026
Slide 1: CARE Ratings Limited Investor Presentation Q4 & FY26
CARE Ratings Limited Investor Presentation Q4 & FY26
Slide 2: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by CARE Ratings Ltd. (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities
Slide 3: Macro-Economic Indicators
Slide 4: Fundraising Activity in the Economy
Fundraising Activity in the Economy Corporate Bond Issuances Commercial Paper Issuances 12 18 11.1 16.9 10.8 15.7 16 10 14 8 12 Rs Trillion Rs Trillion 10 6 8 4 6 3.1 4.4 4.4 2.8 4 2 2 0 - Q4 FY25 Q4 FY26 FY25 FY26 Q4 FY25 Q4 FY26 FY25 FY26 Source: Prime database; Data extracted on 4th May 2026; Sou
Slide 5: Bank Credit Offtake
Bank Credit Offtake Credit Growth - Industry & Services Credit Growth - Industry FY25 FY26 FY25 FY26 20 19.0 35 33.1 18 30 16 15.0 14 25 21.7 12.0 12 20 18.5 Y-o-Y % Y-o-Y % 10 8.2 15 8 6 10 8.9 8.9 6.9 4 5 2 0 0 Industry (22.6%) Services (30.0%) Micro & Small (23.2%) Medium (9.7%) Large (67.1%) Sou
Slide 6: High Frequency Indicators
High Frequency Indicators Trends in PMIs Trends in Industrial Activity Manufacturing PMI Services PMI IIP Core 9 64 8 62 7 6 60 5 Y-o-Y % 58 Index 4 56 3 2 54 1 52 0 50 -1 Sep-25 Nov-25 Jan-26 Jun-25 May-25 Apr-25 Jul-25 Dec-25 Mar-25 Oct-25 Mar-26 Aug-25 Feb-26 May-25 Apr-26 Nov-25 Jan-26 Jun-25 Se
Slide 7: CARE Ratings' Stability Rates Vs Industry Average (in %)
CARE Ratings’ Stability Rates Vs Industry Average (in %) Average 1-Year Stability Rates in Investment Grade for the last 5 Financial Years' Period 99.4 99.7 96.0 97.4 91.7 91.9 90.2 90.0 AAA AA A BBB 2021-2025 2022-2026 Average (FY22-26) Note: CARE’s 2021-2025 and 2022-2026 numbers include CE / SO r
Slide 8: Financials
Slide 9: Q4 FY26 Key Highlights
Q4 FY26 Key Highlights Standalone Consolidated YOY YOY Rs. 107.58 Crs Rs. 130.67 Crs 19% 18% Revenue from Operations Revenue from Operations YOY Margin YOY Margin Rs. 57.90 Crs 27% 54% Rs. 60.76 Crs 28% 46% EBITDA & EBITDA Margin % EBITDA & EBITDA Margin % YOY Margin YOY Margin Rs. 53.39 Crs 19% 43%
Slide 10: FY26 Key Highlights
FY26 Key Highlights Standalone Consolidated YOY YOY Rs. 387.72 Crs 15% Rs. 473.07 Crs 18% Revenue from Operations Revenue from Operations YOY Margin YOY Margin Rs. 187.39 Crs 21% 48% Rs. 197.39 Crs 27% 42% EBITDA & EBITDA Margin % EBITDA & EBITDA Margin % YOY Margin YOY Margin 33% Rs. 174.39 Crs 18%
Slide 11: Consolidated: Segmental Contribution
Consolidated: Segmental Contribution FY26 Rs. 423.05 Crs YOY 17% 11% Ratings Segment 89% Rs. 50.01 Crs YOY Non-Ratings Segment 19% Ratings Segment Non - Ratings Segment The non-rating segment contribution to consolidated revenue is 11%, even as the ratings segment recorded a strong 17% growth 11
Slide 12: About Us
Slide 13: About Us
About Us Our To be a global research and analytics Our To provide best-in- class tools, analyses, company that enables risk mitigation and and insights, enabling customers to make Vision superior decision making Mission informed decisions Ratings Entities Non-Ratings Entities CareEdge Group CARE Rat
Slide 14: Overall Ratings Business
Overall Ratings Business Credit Ratings Business Other Ratings CareEdge Global CARE Ratings (Africa) CARE Ratings CARE ESG CARE Ratings Limited Ratings Limited IFSC Limited Private Limited Nepal Limited ✓ Incorporated in 1993, India’s ✓ Headquartered at GIFT City, ✓ Incorporated in 2014 ✓ Incorporat
Slide 15: AI @ CareEdge Ratings
AI @ CareEdge Ratings Future-Ready Innovation AI Agents & Workforce Lab Automation 60% Structured learning approach; 60% staff Internal AI challenge programs and cross- functional labs generate AI agents across functions for repetitive tasks; faster actively leveraging tools for insight generation b
Slide 16: CareEdge Analytics
CareEdge Analytics Consulting Products • AI Implementation Road Products Solutions Platforms map AI Inside, AI by the Side Gen-AI Native Solutions Agentic AI • AI Implementation Risk Assessments Augmented Intelligence Intelligent Co-Pilots Autonomous Intelligence • AI Engineering CredEdge – AI-power
Slide 17: CareEdge Advisory
CareEdge Advisory Advisory & Sustainability Research Grading Consultancy Practice Services Services Practices • Bespoke Consulting • ESG Strategy and • Customized Sectoral • AIF Grading Integration Research • Transaction Advisory • MFI / COCA Grading • SPOs/Impact Study on • Market study & • Risk Ad
Slide 18: Outreach Activities – Q4 & FY26 - Summary
Outreach Activities – Q4 & FY26 - Summary YoY Growth For Q4 For FY26 Vs FY26 FY26 FY25 Reports Published 114 416 24.9% Webinars 12 31 10.7% Knowledge Sharing & Speaker Forums 80 315 148.0% Media coverages 2005 9486 38.9% TV interviews 10 34 30.8% Individual Interactions & Quotes in Media 753 2211 45
Slide 19: Outreach Activities: Q4 FY26
Outreach Activities: Q4 FY26 Knowledge Sharing Forums & Speaker Invitations MoU with the Government of Gujarat and CERC Knowledge Partnerships with: ET MSME Awards, IiAS, Bharat Electricity Summit 2026, NHAI, AIBI, Assocham, Nairobi Security Exchange 19
Slide 20: Outreach Activities: Q4 FY26
Outreach Activities: Q4 FY26 CareEdge Events InsightEdge, A CareEdge Podcast CareEdge Global hosted “The Dialogue – Sovereign & Global Ratings: Trust & Transparency” in Thimphu on January 08, 2026. CareEdge Ratings hosted “Charcha” on The Evolving CareEdge Landscape of India’s Real in Media Estate S
Slide 21: CareEdge Impact- CSR Project beneficiaries
CareEdge Impact- CSR Project beneficiaries 6000+ 800+ 250+ 23% Children supported Patients supported Women supported The CSR budget through through through supports Defence Healthcare projects Essential healthcare Healthcare kits for personnel and their providing Paediatric services like palliative
Slide 22: Contact Us
Contact Us Company : Investor Relations Advisors : CARE Ratings Limited Strategic Growth Advisors Private Limited CIN: L67190MH1993PLC071691 CIN: U74140MH2010PTC204285 Ms. Neha Shroff/ Mr. Dhruvil Jani [email protected] [email protected] / [email protected] +91 77380 73466 / +9