CARE Rating Q3 FY23 Result update: (No Concall)
- Economy expected to rise by 7% in 2023.
- Export sector is showing weakness due to global slowdown.
- Corporate bond issuances have increased but commercial paper issuances have reduced. (Mixed performance in fundraising business)
- Credit to industry and Gross Bank Credit both grew during the quarter.
- Expects the domestic demand revival to be sustainable.
- Private consumption and Investment are estimated to grow by 7.7% and 11.5% respectively.
- Market share of CARE Ratings is 22% and they plan to increase market share 1% annually. (Source: RR of Prabhudas Liladhar)
- Management is focusing on automation across business & improving rating models, margin accretive accounts and improving the contributions of subsidiaries. It is also a high entry barrier business.
- The company has net cash of 570 crores which is 30% of the market cap.
RR Link: https://www.plindia.com/samplereports/thebeatcareratings.pdf
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