Care Ratings Q4 Results Review - Structurally Moving Right: Yes Securities

Fortifying market position in domestic ratings with gains of wallet share and new clients

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Yes Securities Report

Care Ratings Ltd.’s profit after tax in Q4 FY24 was below our estimate on account of softer growth in Domestic Ratings (standalone revenue), lower-than-expected margins (reflecting growth investments in Analytics business), lower other income and higher tax rate.

On structural basis, the performance was healthy characterized by-

  1. steady progression of market share in ratings,

  2. margin in ratings business trending up due to operating leverage, and

  3. significant built-up of traction in non-ratings businesses (Analytics and Advisory).

Click on the attachment to read the full report:

Yes Securities CARE Ratings Q4FY24.pdf
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Also Read: Alkyl Amines Q4 Results Review - Volume Guidance Remains Strong: Motilal Oswal

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