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CARE Ratings Reviews

Mumbai, Maharashtra

4.5/ 5

2 reviews

CARE Ratings Limited, operating under the brand CareEdge, is one of India's leading credit rating agencies and a prominent knowledge-based analytical group. Established in April 1993, the company has built a credible track record of servicing diverse sectors for over three decades and stands as India's second-largest credit rating agency. It is publicly listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) under the ticker CARERATING. Headquartered in Mumbai, Maharashtra, the company is professionally managed with no identifiable promoter, and its major shareholding is distributed among foreign portfolio investors, resident individuals, and mutual funds. The core operations of CARE Ratings revolve around providing credit ratings that assist corporate entities in raising capital and help investors make informed investment decisions based on credit risk and risk-return expectations. The company's comprehensive suite of rating services spans a wide range of financial instruments and sectors. This includes bank loan ratings, debt instruments, commercial papers, corporate bonds, debentures, structured finance ratings, insurance ratings, recovery ratings, and issuer ratings. It also offers ratings for newer financial structures like Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs), alongside functioning as a monitoring agency for equity capital. Beyond traditional credit ratings, the company has strategically diversified its business model into non-rating segments to mitigate the impact of traditional credit cycles. It operates several wholly owned domestic and international subsidiaries focused on research, analytics, risk management, and sustainability solutions. Its domestic subsidiaries include CARE Analytics & Advisory Private Ltd (formerly CARE Risk Solutions Pvt Ltd), which provides risk and compliance solutions, and CARE ESG Ratings Ltd, a SEBI-registered ESG rating provider that assigned India's first ESG ratings in major sectors. Additionally, its international footprint includes CareEdge Global IFSC Ltd at GIFT City—providing global scale ratings to sovereigns and debt instruments—as well as operational arms in Mauritius, South Africa, and Nepal. Financially, CARE Ratings maintains a robust market position with a fee-based revenue model. For the fiscal year ending March 31, 2025, the company reported an annual revenue of INR 453 crore. The ratings segment historically drives the majority of its income, accounting for nearly 89% of operational revenues, while non-ratings segments continue to scale. Led by Chairman V. Chandrasekaran and Managing Director & Group CEO Mehul Pandya, CareEdge is licensed by SEBI and accredited by the RBI, playing a pivotal role in the Indian financial ecosystem by promoting transparency, rigorous risk assessment, and informed capital allocation.