CARE Ratings Limited

rs 14

To, The General Manager Corporate Relation Department BSE Limited Phiroze Jeejeebhoy Towers 14th Floor, Dalal Street Mumbai 400 001 Scrip Code: 534804 Dear Sir/ Madam, Date: October 31, 20

7.8%

ng the first half of FY24. The domestic economy exhibited considerable strength, posting a healthy 7.8% growth in Q1 FY24, buoyed by a supportive base and impressive performance in services and construc

6.1%

, largely driven by the retail and services segments. However, the bank credit to industry grew by 6.1% till August 2023, with large industries recording a growth of 5.4%. Further our research indicate

5.4%

bank credit to industry grew by 6.1% till August 2023, with large industries recording a growth of 5.4%. Further our research indicates that there is steep slowdown in net new projects announcements in

Rs 1.2

new projects announcements in the first half of FY24. The value of new projects announced fell to Rs 1.2 trillion in Q2 FY24 from Rs 6.6 trillion in Q1 FY24. Additionally, the value of dropped projects ro

Rs 6.6

he first half of FY24. The value of new projects announced fell to Rs 1.2 trillion in Q2 FY24 from Rs 6.6 trillion in Q1 FY24. Additionally, the value of dropped projects rose from Rs 3 trillion in the Q4

Rs 3

in Q2 FY24 from Rs 6.6 trillion in Q1 FY24. Additionally, the value of dropped projects rose from Rs 3 trillion in the Q4 FY23 to Rs 4.2 trillion in Q1 FY24 and Rs 4 trillion in Q2 FY24. A rise in the v

Rs 4.2

in Q1 FY24. Additionally, the value of dropped projects rose from Rs 3 trillion in the Q4 FY23 to Rs 4.2 trillion in Q1 FY24 and Rs 4 trillion in Q2 FY24. A rise in the value of dropped projects along wit

Rs 4

value of dropped projects rose from Rs 3 trillion in the Q4 FY23 to Rs 4.2 trillion in Q1 FY24 and Rs 4 trillion in Q2 FY24. A rise in the value of dropped projects along with a slowdown in announcements

14%

since March 2021. So, despite the challenging Q2FY24, CareEdge Ratings reported YoY growth of over 14% in its consolidated Operating Income. The growth was principally driven by continued traction in o

43%

mentum. The operating profit margin, though moderated a bit, continued to remain healthy at around 43% on consolidated basis. The moderation was attributed to some increase in salary cost, branding and

10%

chnology cost. On standalone basis, which is our ratings business, CareEdge reported YoY growth of 10% in its Operating Income in Q2FY24. Despite weakness witnessed in fund raising activity during Q2FY

“No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.”

Investor Relations Advisors

2

Webinars

1

Speaker Invitations

1

Investor Relations Advisors

CIN: L67190MH1993PLC071691 CIN: U74140MH2010PTC204285 investor.relations@careedge.in Ms. Ami Parekh ami.parekh@sgapl.net +91 80824 66052 www.careratings.com www.sgapl.net 4 CARE Ratings Limited Investor Presentation Q2FY24 & H1FY24 Macro-Economic Indicators 2 FUNDRAISING ACTIVITY MODERATES Corporate Bond Issuances CP Issuances Corporate Bond Issuances Moderate in Q2 FY24 but register strong growth in H1FY24 (Rs. Lakh Crore) 4.98 CP Issuances witness moderation in H1FY24 (Rs. Lakh Crore) 7.3 7.1 3.23 2.03 1.98 3.8 3.3 Q2FY23 Q2FY24 H1FY23 H1FY24 Q2FY23 Q2FY24 H1FY23 H1FY24 Source: Prime database (Includes private placement and public issues) Source: CEIC ▪ Issuance of Commercial Papers (CP) and Corporate Bond issuances slowed marginally in Q2 FY24 due to increase in yields as a result of high inflation. ▪ In H1FY24, corporate bond issuances increased by ~50% (YoY). 3 GOVERNMENT CAPEX SUPPORTS INVESTMENT Gross Fixed Capital Formation Capacity Utilisation y - o - y % 70 60 50 40 30 20 10

Webinars

Sparkling Shift: Lab-Grown Diamonds Gain while Natural Diamonds Brace for Margin Dip C&I Segment: The New Growth Engine for Renewable Energy Sector? Unravelling the Microfinance Landscape: Trends, Challenges, and Potential Hospitality Horizons: Rising from Recession to Revival and Beyond Indian Road Sector - Steering through Obstacles Inside India’s Pharma Pulse OUTREACH ACTIVITIES: Q2FY24 Knowledge Sharing Forums and

Speaker Invitations

• Jury Member at the 8th ET Edge Infra Focus Summit. • Directors’ Strategy Meet, organised by National Highways Infra Trust (NHIT), Udaipur • Knowledge sessions at SBI, SBI Life Insurance on rating performance and economy and a workshop for LIC Senior officials on InvITs and REITs. • CII Western Regional Council Meeting, New Delhi. • Panel Discussion at Association of Credit Rating on Agencies 'Addressing Evolving Systemic Risks: conference (ACRAA) in Asia • Webinar on ‘Bridging the Cybersecurity Skillset Gap – Complementarities of Talent and Technology’ on September 29. This session was organised by Outlook Business • Roundtable discussion on Corporate Social Responsibility organised by the CPSE • CareEdge Ratings Africa at the Annual Corporate Governance Event organised by the Mauritius Institute of Directors (MIoD) where a memento was awarded to CRAF in recognition of the contribution of CareEdge Ratings Africa towards ESG. The event, also saw the presence of the Minister of Financi

Investor Relations Advisors

CARE Ratings Limited Strategic Growth Advisors Private Limited CIN: L67190MH1993PLC071691 CIN: U74140MH2010PTC204285 investor.relations@careedge.in www.careratings.com Ami Parekh ami.parekh@sgapl.net +91 80824 66052 www.sgapl.net 24 About Us CareEdge is a knowledge-based analytical group that aims to provide superior insights based on technology, data analytics and detailed research. CARE Ratings Ltd, the parent company in the group, is one of the leading credit rating agencies in India. Established in 1993, it has a credible track record of rating companies across multiple sectors and has played a pivotal role in developing the corporate debt market in India. The wholly-owned subsidiaries of CARE Ratings are (I) CARE Advisory, Research & Training Ltd, which offers customised advisory services, credible business research and analytical services (II) CARE Risk Solutions Private Ltd, which provides risk management solutions. CARE Ratings Limited Corporate Office: 4th Floor, Godrej Colise