Mumbai’s CA Final Topper Achieves Back-to-Back AIR 1s, ETCFO
The Institute of Chartered Accountants of India (ICAI) has announced the results for its May 2025 exams. Results for Foundation, Intermediate and Final levels went live on 6 July. This year, Mumbai’s Rajan Kabra has topped the CA Final with an impressive 516 out of 600 marks, bagging the All India Rank 1.
Rajan Kabra sets new mark
Rajan Kabra’s 86 percent score led the Final exam chart. Nishtha Bothra from Kolkata followed at second place with 503, while Manav Rakesh Shah came third with 493 marks. In the Intermediate category, Disha Ashish Gokhru clinched AIR 1 with 513, Devidan Yash Sandeep came next with 503 and Yamish Jain and Nilay Dangi shared third with 502. At the Foundation level, Vrinda Agarwal topped with 362 out of 400. She was followed by Yadnesh Rajesh Narkar and Shardul Shekar Vichare at close margins.
Who is Rajan Kabra?
Rajan Kabra is no stranger to topping charts. In May 2022, he secured AIR 1 in Intermediate too. He began his CA journey with a Foundation score of 378 out of 400 in July 2021. His steady climb reflects a style rooted in curiosity and discipline, not just cramming notes.
What sets Rajan apart is how he sees exams. He says his journey is driven by questions, not just answers, and by “a mindset that values the process as much as the prize.”
How did he do it?
While many stick to textbooks, Rajan blends theory with practice. He works as an industrial trainee at Boston Consulting Group, picking up real-world lessons in strategy and business. He is also known among friends for his love of fiction. Harry Potter tops his reading list. In school and college, Rajan actively joined debates, quizzes and elocution contests.In recent years, he has turned to geopolitics and global finance. For him, these areas connect balance sheets to the wider world. He believes learning should keep evolving, saying he sees education as “a continuous process rooted in growth, awareness and intellectual curiosity.”
Pass rates show tough road
The results again show how demanding the CA course remains. In the Final, 22.38 percent cleared Group 1 and 26.43 percent passed Group 2. Just 18.75 percent managed to clear both groups together. For the Intermediate exam, pass rates were lower: 14.67 percent for Group 1 and 21.51 percent for Group 2. Only 13.22 percent cracked both at once.At the Foundation level, the pass rate stood at 15.09 percent. Boys performed slightly better than girls this year, with 16.26 percent qualifying against 13.80 percent.
ICAI CA Final May Toppers 2025
Check list of CA Final toppers below:
ICAI CA Intermediate May Toppers 2025
Check list of CA Intermediate toppers below:
ICAI CA Foundation May Toppers 2025
Check list of CA Foundation toppers below:
How to check the ICAI CA May 2025 result
Candidates can check their results online. ICAI has advised students to head to icai.nic.in or icaiexam.icai.org. From there, they must click on the May 2025 results link, enter their registration number, roll number and date of birth, and download the mark sheet.
To pass, candidates must score at least 40 percent in each paper and an overall 50 percent in each group. Those scoring above 70 percent earn a “Pass with Distinction” badge.
ICAI will soon share details of the membership process and a convocation ceremony to honour the toppers. The institute urges students to watch its websites for any updates or official interviews.
Rajan’s story stands out not just for the numbers. It reminds many that behind India’s most gruelling exams, there are stories about balance sheets, debates, and even wizard tales. The CA remains one of India’s toughest badges to earn — and for many, it stays worth it.
