CareEdge Ratings: The Story of a Bold Transformation (2020–2025)
There’s a saying in markets: the darkest hour comes before the dawn . And no better example of that exists than the extraordinary turnaround of CareEdge Ratings . Between 2018–2019 , the company, then known as Care Ratings, was riding high with a stock price of ₹1700 , dominating India’s credit rating landscape. But by early 2019 , it found itself in deep trouble — battered by the fallout of the IL&FS default , allegations of rating lapses, and a governance crisis that saw its then MD/CEO removed. Within months, its stock tanked from ₹1700 to ₹250 . And yet — five years later, in May 2025 , the same stock trades at an all-time high of ₹1640 . A complete transformation story in corporate India. Let’s trace this incredible journey. 2018–2019: IL&FS, A Crisis That Shook the Industry The collapse of IL&FS in 2018 wasn’t just a credit event — it was an industry-defining crisis. As one of the leading raters of IL&FS group entities, Care Ratings faced intense scru...