ICRA (NSE:ICRA) ROCE %: 23.75% (As of Mar. 2026)


NSE:ICRA ICRA Ltd NSE:ICRA
90 GF Score
Price ₹5,346.00
GF Value ₹8,091.92
Valuation Possible Value Trap
! 1 Warning Sign
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What is ICRA ROCE %?

ICRA NSE:ICRA +0.74% 90 ROCE % is 23.75% as of Mar. 2026. GuruFocus rates NSE:ICRA with a GF Score™ of 90/100 and a GF Value™ of ₹8,091.92 (Possible Value Trap). The stock has 1 warning sign investors should review.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. ICRA's annualized ROCE % for the quarter that ended in Mar. 2026 was 23.75%.

ICRA  (NSE:ICRA) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

ICRA ROCE % Related Terms

ICRA ROCE % Historical Data

* Premium members only.

The historical data trend for ICRA's ROCE % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

ICRA ROCE % Chart

ICRA Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
ROCE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 18.70 19.94 20.99 22.19 21.61

ICRA Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
ROCE % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 26.96 21.49 22.54 19.31 23.75
NSE:ICRA
90GF Score
ICRA Ltd NSE:ICRA
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
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ICRA ROCE % Calculation

ICRA's annualized ROCE % for the fiscal year that ended in Mar. 2026 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: Mar. 2026 )  (A: Mar. 2025 )(A: Mar. 2026 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: Mar. 2026 )  (A: Mar. 2025 )(A: Mar. 2026 )
=2548.716/( ( (12941.721 - 1771.028) + (14860.982 - 2443.356) )/ 2 )
=2548.716/( (11170.693+12417.626)/ 2 )
=2548.716/11794.1595
=21.61 %

ICRA's ROCE % of for the quarter that ended in Mar. 2026 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=2949.44/( ( (0 - 0) + (14860.982 - 2443.356) )/ 1 )
=2949.44/( ( 0 + 12417.626 )/ 1 )
=2949.44/12417.626
=23.75 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about ROCE % →
What does a ROCE % of 23.75% mean?
ICRA (NSE:ICRA) has a ROCE % of 23.75% as of Mar. 2026.
Is ICRA's ROCE % too high?
ICRA's current ROCE % is 23.75%. The Capital Markets industry median ROCE % is 5.64. ICRA's value of 23.75% is 321.1% above this industry median. Overall, ICRA has a GF Score™ of 90/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does ICRA's ROCE % compare to SPGI and CME?
ICRA's ROCE % of 23.75% can be compared against companies in the Capital Markets industry. The industry median ROCE % is 5.64. ICRA's value of 23.75% is 321.1% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROCE % for a Capital Markets company?
The median ROCE % among Capital Markets companies is 5.64, based on 693 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. ICRA's current ROCE % of 23.75% is 321.1% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROCE % mean?
A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Capital Markets industry, the median ROCE % is 5.64 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ICRA's current ROCE % is 23.75%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ICRA stock overvalued right now?
Based on GuruFocus' analysis, ICRA (NSE:ICRA) is currently considered Possible Value Trap. The stock's GF Value™ is ₹8,091.92, compared to a current price of ₹5,346.00 — trading 33.9% below its estimated fair value. The current ROCE % is 23.75% and 321.1% above the Capital Markets industry median of 5.64. ICRA's overall GF Score™ is 90/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROCE % calculated?
ROCE % is calculated from a company's financial statements. For ICRA (NSE:ICRA), the current ROCE % is 23.75% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is ICRA (NSE:ICRA) Overvalued in 2026?

Based on GuruFocus' analysis, ICRA stock appears to be undervalued. The current stock price of ₹5,346.00 is trading 33.9% below its estimated GF Value™ of ₹8,091.92. GuruFocus considers ICRA to be Possible Value Trap.

Key valuation signals for NSE:ICRA:

  • ROCE %: 23.75%
  • GF Value™: ₹8,091.92 vs. price of ₹5,346.00 (33.9% below fair value)
  • GF Score™: 90/100 with 1 warning sign
  • Industry Position: 321.1% above the Capital Markets median

No single metric tells the full story. See the NSE:ICRA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

ICRA Business Description

Other Exchanges 532835:India
Address Building No. 8, 2nd Floor, Tower A, DLF Cyber City, Phase II, Gurugram, HR, IND, 122 002
ICRA Ltd is an independent and professional Investment Information and credit rating agency. The company operates through four segments: Rating, research, and other services; Consulting services; Knowledge and Market Services. The company generates over half of its revenue from the Rating, research and other services segment. Rating, research, and other services segment provides rating, grading, and industry research services. The consulting services segment provides management consulting which includes risk management, financial advisory, outsourcing, and policy advisory. The knowledge Services segment provides KPO services and the Market services segment provides financial information products and services. Geographically the majority of revenue is generated from within India.
90GF Score

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ROCE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₹5,346.00
Price
₹8,091.92
GF Value