A subsidiary of ICRA Limited

Solutions that work

ICRA Management Consulting Services Limited (IMaCS) is a leading management consulting and analytics firm headquartered in India, with a rich two-decade experience across sectors and countries.

About IMaCS

IMaCS has successfully completed more than 2,000 diversified consulting assignments across 45 countries, serving a satisfied client base spread over multiple sectors. IMaCS is a fully-owned subsidiary of ICRA Limited (ICRA), one of India's leading credit rating agencies.

IMaCS operated as an independent division of ICRA until March 2005, when it was de-merged from ICRA and became a standalone company in its present form. The Board of Directors is chaired by Mr. C. M. Vasudev, Independent Director and Former Executive Director of the World Bank.

Business Groups

  • Banking & Financial Services

    Consulting for banks, financial institutions and fixed-income markets.

  • Energy

    Advisory across the energy value chain, from generation to distribution.

  • Government, Infrastructure & Development

    Consulting for government bodies, multilaterals and development programmes.

  • Fixed Income

    Analytics and advisory for fixed-income and debt markets.

IMaCS Sectoral Reports

  • IMaCS Automobile Demand Outlook FY19
  • Gold Loan Market in India — Report 2018
  • Discom Performance: IMaCS Assessment & Projection FY18
  • IMaCS Index

Our Values

Two decades of professional consulting, a satisfied client base across sectors and countries, and the analytical strength of the ICRA group underpin how IMaCS delivers solutions that work.