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Last Updated on: 30 May, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of ICICI Securities Ltd

About the Company - ICICI Securities Ltd

ICICI Securities Ltd. is a Public Limited Listed company incorporated on 09/03/1995 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L67120MH1995PLC086241 and registration number is 086241. Currently Company is involved in the business activities of Security and commodity contracts brokerage. Company’s Total Operating Revenue is Rs. 3434.56 Cr. and Equity Capital is Rs. 161.34 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Finance & InvestmentsICICI Venture House, Appasaheb Marathe Marg, Mumbai Maharashtra 400025investors@icicisecurities.com
http://www.icicisecurities.com
Management
NamePosition Held
Mr. Vinod Kumar DhallChairman & Ind.Director
Mr. Vijay ChandokManaging Director & CEO
Mr. Ajay SarafExecutive Director
Mr. Ashvin ParekhIndependent Director
Mr. Subrata MukherjiIndependent Director
Ms. Vijayalakshmi IyerIndependent Director
Mr. Anup BagchiNon Executive Director
Mr. Prasanna BalachanderNon Executive Director
Mr. Gopichand KatragaddaIndependent Director
Mr. Rakesh JhaNon Executive Director

Basic Stock Data of ICICI Securities Ltd

Last Updated: May 30, 2024, 6:21 am

Market Cap 23,661 Cr.
Current Price 730
High / Low866/489
Stock P/E14.0
Book Value 121
Dividend Yield3.97 %
ROCE19.7 %
ROE50.1 %
Face Value 5.00
PEG Ratio0.78

ICICI Securities Ltd Quarterly Results

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales6207397458569428927948588798859341,2491,323
Expenses223254275313333329311335330337363439412
Operating Profit397486470544608563483523549548571810911
OPM %64%66%63%63%65%63%61%61%62%62%61%65%69%
Other Income-00200117100-01
Interest253142588391100108153175185215261
Depreciation14141415161716191921222627
Profit before tax358441417471510455367404377353364569624
Tax %25%25%25%25%25%25%25%26%26%26%26%26%25%
Net Profit267329311351380340274300281263271424466
EPS in Rs8.2910.229.6310.8911.7910.558.489.318.708.148.3913.1114.41

Last Updated: May 7, 2024, 11:42 pm

ICICI Securities Ltd Quarterly Chart

ICICI Securities Ltd Profit & Loss

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales7068121,2101,1251,4031,8611,7251,7212,5863,4353,4223,947
Expenses5536347117078389429128239931,2501,3131,469
Operating Profit1531784994175669198138981,5932,1852,1092,478
OPM %22%22%41%37%40%49%47%52%62%64%62%63%
Other Income0-0-2-11-213-1441
Interest3125312629504286107274536727
Depreciation141316161515156154637588
Profit before tax1091404503745228527577531,4311,8531,5011,664
Tax %34%36%35%36%35%35%35%28%25%25%26%
Net Profit72892942393395534915421,0681,3831,1181,238
EPS in Rs0.891.113.652.964.2017.1815.2316.8233.1442.8534.6238.34
Dividend Payout %42%45%55%67%61%32%62%65%65%56%55%

ICICI Securities Ltd Profit & Loss Yearly Chart

ICICI Securities Ltd Growth

Compounded Sales Growth
10 Years:20%
5 Years:24%
3 Years:25%
TTM:48%
Compounded Profit Growth
10 Years:34%
5 Years:28%
3 Years:17%
TTM:52%
Stock Price CAGR
10 Years:%
5 Years:28%
3 Years:7%
1 Year:46%
Return on Equity
10 Years:57%
5 Years:54%
3 Years:51%
Last Year:50%

Last Updated: May 23, 2024, 3:44 pm

ICICI Securities Ltd Balance Sheet

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital161161161161161161161161161161161162
Reserves51881912373296878861,0481,6612,2692,6913,113
Preference Capital50-0-0-0-0-0-0-0-0-0-0
Borrowings2203172271733956774521,6573,6307,8469,40812,423
Other Liabilities4091,0067848261,1621,3493,1651,5762,7293,3703,3085,061
Total Liabilities8401,5731,3631,3972,0472,8744,6654,4438,18113,64615,56920,759
Fixed Assets33353535353844198161184258355
CWIP324234488143132
Investments3100112432311810
Other Assets8021,4361,3231,3582,0082,8284,6144,2348,00913,43815,27220,362
Total Assets8401,5731,3631,3972,0472,8744,6654,4438,18113,64615,56920,759

ICICI Securities Ltd Reserves and Borrowings Chart

ICICI Securities Ltd Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 165712,289-1,878-1,610-2,597-674
Cash from Investing Activity -17-21-21-23-40-69-125
Cash from Financing Activity -546-5615591,4173,130266
Net Cash Flow94561,707-1,342-233464-533

ICICI Securities Ltd Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days5024252951856110119654183
Inventory Days
Days Payable
Cash Conversion Cycle5024252951856110119654183
Working Capital Days-64-135-125-73-51-152-461-81-220-260-137
ROCE %31%84%70%76%75%53%38%37%27%18%

ICICI Securities Ltd Financial Efficiency Indicators Chart

ICICI Securities Ltd Share Holding Pattern

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Promoters75.00%75.00%74.92%74.91%74.89%74.89%74.87%74.86%74.85%74.85%74.83%74.79%
FIIs4.60%3.74%5.68%6.29%6.58%7.32%7.10%7.43%7.77%8.75%9.48%10.06%
DIIs9.93%9.04%7.34%7.51%7.79%7.08%6.75%6.24%5.82%5.06%5.08%6.20%
Public10.47%12.23%12.06%11.29%10.74%10.71%11.28%11.47%11.56%11.35%10.60%8.93%
No. of Shareholders1,42,0431,54,4191,44,0001,61,6831,73,2481,86,8751,93,2951,91,5091,76,5741,72,7881,65,9231,38,563

ICICI Securities Ltd Shareholding Pattern Chart

No. of ICICI Securities Ltd Shareholders

ICICI Securities Ltd Mutual Fund Holdings

ICICI Securities Ltd ROCE Trend

ICICI Securities Ltd EPS Trend

ICICI Securities Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue5.005.005.005.005.00
Basic EPS (Rs.)34.6242.8633.1416.8315.23
Diluted EPS (Rs.)34.5442.6933.0816.8115.23
Cash EPS (Rs.)36.9444.7834.8218.7315.70
Book Value[Excl.RevalReserv]/Share (Rs.)88.3575.3256.5437.5532.51
Book Value[Incl.RevalReserv]/Share (Rs.)88.3575.3256.5437.5532.51
Revenue From Operations / Share (Rs.)105.80106.4580.2652.9752.91
PBDIT / Share (Rs.)65.4367.8449.4127.9625.28
PBIT / Share (Rs.)63.1065.9047.7326.0524.82
PBT / Share (Rs.)46.4957.4244.4023.3723.51
Net Profit / Share (Rs.)34.6242.8533.1416.8215.23
NP After MI And SOA / Share (Rs.)34.6242.8533.1416.8215.23
PBDIT Margin (%)61.8463.7261.5652.7947.78
PBIT Margin (%)59.6461.9059.4749.1946.90
PBT Margin (%)43.9453.9355.3244.1244.42
Net Profit Margin (%)32.7140.2541.2831.7628.78
NP After MI And SOA Margin (%)32.7140.2541.2831.7628.78
Return on Networth / Equity (%)39.1856.8858.6044.8146.85
Return on Capital Employeed (%)59.5469.2462.0125.2538.10
Return On Assets (%)7.1710.1313.0512.1910.52
Long Term Debt / Equity (X)0.000.000.001.240.43
Total Debt / Equity (X)3.263.191.931.240.43
Asset Turnover Ratio (%)0.230.310.410.370.45
Current Ratio (X)1.241.251.373.561.70
Quick Ratio (X)1.161.231.282.811.60
Dividend Payout Ratio (NP) (%)64.9857.7444.5059.1449.88
Dividend Payout Ratio (CP) (%)60.8955.2442.3553.1248.40
Earning Retention Ratio (%)35.0242.2655.5040.8650.12
Cash Earning Retention Ratio (%)39.1144.7657.6546.8851.60
Interest Coverage Ratio (X)3.948.0014.8410.4319.24
Interest Coverage Ratio (Post Tax) (X)3.086.0510.957.2712.59
Enterprise Value (Cr.)16313.1122186.3811938.868014.865115.10
EV / Net Operating Revenue (X)4.786.464.624.703.00
EV / EBITDA (X)7.7210.147.508.906.28
MarketCap / Net Operating Revenue (X)4.045.844.755.234.58
Retention Ratios (%)35.0142.2555.4940.8550.11
Price / BV (X)4.848.256.757.387.46
Price / Net Operating Revenue (X)4.045.844.755.234.58
EarningsYield0.080.060.080.060.06

ICICI Securities Ltd Profitability Ratios (%)

ICICI Securities Ltd Liquidity Ratios

ICICI Securities Ltd Liquidity Ratios (%)

ICICI Securities Ltd Interest Coverage Ratios (%)

ICICI Securities Ltd Valuation Ratios

Fair Value

Fair Value: ₹882.39

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 20.87% compared to the current price ₹730

Intrinsic Value: ₹1,040.46

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 42.53% compared to the current price ₹730

Last 5 Year EPS CAGR: 17.91%

*Investments are subject to market risks

Strength and Weakness of ICICI Securities Ltd Stock

StrengthWeakness
  1. The stock has a high average ROCE of 46.27%, which is a positive sign.
  2. The stock has a low average Working Capital Days of -159.91, which is a positive sign.
  3. The company has higher reserves (1,104.25 cr) compared to borrowings (4.17 cr), indicating strong financial stability.
  4. The company has shown consistent growth in sales (127.92 cr) and profit (330.08 cr) over the years.
  1. The stock has a high average Cash Conversion Cycle of 90.36, which may not be favorable.

FAQ

What is the latest fair value of ICICI Securities Ltd?

The latest fair value of ICICI Securities Ltd is ₹882.39.

What is the Market Cap of ICICI Securities Ltd?

The Market Cap of ICICI Securities Ltd is 23,661 Cr..

What is the current Stock Price of ICICI Securities Ltd as on 30 May 2024?

The current stock price of ICICI Securities Ltd as on 30 May 2024 is ₹730.

What is the High / Low of ICICI Securities Ltd stocks in FY 2024?

In FY 2024, the High / Low of ICICI Securities Ltd stocks is 866/489.

What is the Stock P/E of ICICI Securities Ltd?

The Stock P/E of ICICI Securities Ltd is 14.0.

What is the Book Value of ICICI Securities Ltd?

The Book Value of ICICI Securities Ltd is 121.

What is the Dividend Yield of ICICI Securities Ltd?

The Dividend Yield of ICICI Securities Ltd is 3.97 %.

What is the ROCE of ICICI Securities Ltd?

The ROCE of ICICI Securities Ltd is 19.7 %.

What is the ROE of ICICI Securities Ltd?

The ROE of ICICI Securities Ltd is 50.1 %.

What is the Face Value of ICICI Securities Ltd?

The Face Value of ICICI Securities Ltd is 5.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in ICICI Securities Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE