CARE Ratings Share Price Target 2026, 2027, 2028, 2029, 2030
- Market Cap
- ₹5,209 Cr
- Book Value
- ₹311
- Stock P/E
- 30.4
- Dividend Yield
- 1.27%
- ROE
- 19.7%
- ROCE
- 26.3%
- PEG Ratio
- 2.20
- EV/EBITDA
- 20.2
Fundamentals from Screener.in, as of 5 Aug 2026. Live price via Yahoo Finance.
CARE Ratings share price today
CARE Ratings (NSE: CARERATING) holds the #2 domestic position in one of finance’s best structures: the credit-rating oligopoly. Regulation manufactures the demand — bonds and bank loans above thresholds must carry ratings from accredited agencies — and accreditation walls keep the club at a handful of members. The economics follow the structure: 41.7% operating margins, 26.3% ROCE, net cash, and a 1.3% dividend along the way.
The macro story is the multiplier: India’s corporate-bond market remains small relative to GDP against every developed benchmark, and each step of bond-market deepening — infra financing, NBFC diversification, insurance/pension demand for paper — is rated revenue. At 30.4×, our universe tags it wait: an annuity on debt-market growth, at a fair-not-cheap price.
The oligopoly’s second seat
CRISIL carries the premium and the global parent; CARE is the domestic pure-play where a re-rating (of the rater) has room to run. Rating revenue is annuity-shaped — surveillance fees recur for every instrument’s life — and operating leverage is steep: an incremental rating costs analysts’ hours, not capital. The institutional ownership (no promoter) keeps governance clean and the register open.
Watch-items: bond-issuance volumes (the cycle variable), pricing discipline among the agencies, regulatory changes to rating mandates, and reputational risk — one blown rating cycle (IL&FS-style) can cost years of trust.
The numbers
From our research universe snapshot (5 Aug 2026):
| Metric | Value |
|---|---|
| Market cap | ₹5,209 Cr |
| P/E (TTM) | 30.4 |
| EV/EBITDA | 20.2 |
| Operating margin | 41.7% |
| ROE / ROCE | 19.7% / 26.3% |
| Debt to equity | 0.03 (net cash) |
| Sales CAGR (5y) | 13.8% |
| Profit CAGR (5y) | 13.8% |
| Promoter holding | 0% (institutionally owned) |
| EPS (TTM) | ₹56.83 |
CARE Ratings share price target 2026 to 2030
EPS base ₹56.83 (TTM). Bear: issuance cycles soften — 8% growth, multiple at 19×. Base: bond-market deepening compounds — 13% growth at 26×. Bull: debt-market reforms accelerate issuance — 17% growth at 33×.
| Year | Bear (19×, +8%) | Base (26×, +13%) | Bull (33×, +17%) |
|---|---|---|---|
| 2026 | ₹1,165 | ₹1,670 | ₹2,195 |
| 2027 | ₹1,260 | ₹1,885 | ₹2,565 |
| 2028 | ₹1,360 | ₹2,130 | ₹3,005 |
| 2029 | ₹1,470 | ₹2,410 | ₹3,515 |
| 2030 | ₹1,585 | ₹2,720 | ₹4,110 |
From ₹1,729, the base case is ≈ +57% over four and a half years plus the 1.3% yield; the bear is −8%. Regulated oligopolies compress politely — the range below is where polite becomes profitable.
Reasons to own CARE Ratings (at the right price)
- Regulation manufactures the demand — ratings are compliance, not discretion.
- Surveillance fees recur for every rated instrument’s life: annuity revenue.
- 42% OPM with net cash — oligopoly economics without balance-sheet risk.
- India’s bond-market deepening is a decade-length structural trade.
- The #2 seat carries re-rating room the premium incumbent doesn’t.
The risks: issuance volumes are cyclical, price competition among agencies flares periodically, and the entire franchise rests on reputational capital one crisis can dent.
Should you buy at the current price?
The live buy range below is for members — the oligopoly at a spectator’s price.
FAQ
What is the CARE Ratings share price target for 2030? Base case ≈ ₹2,720 (26× on 13% compounded growth), bear ≈ ₹1,585, bull ≈ ₹4,110. Arithmetic above.
Why does regulation guarantee rating demand? SEBI and RBI rules require accredited ratings for bond issues and large bank exposures — the product is mandatory, and the accredited club is tiny.
How does CARE differ from CRISIL? CRISIL blends ratings with a global analytics business under S&P’s control at a premium multiple; CARE is the cheaper domestic pure-play on the same oligopoly structure.
When are CARE Ratings’ next results? Track the exact date on our results calendar.
This article is research and education, not personalised investment advice. We are not SEBI-registered advisers. Price targets are scenario arithmetic, not promises. Do your own research and consult a registered adviser before acting.