ICICI Securities Limited provides institutional and retail broking, merchant banking, and advisory services to corporates, financial institutions, high net-worth individuals, and retail investors in India.
ICICI Securities Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||₹754.30|
|52 Week High||₹376.90|
|52 Week Low||₹802.70|
|1 Month Change||5.83%|
|3 Month Change||17.99%|
|1 Year Change||57.69%|
|3 Year Change||139.08%|
|5 Year Change||n/a|
|Change since IPO||69.47%|
Recent News & Updates
ICICI Securities (NSE:ISEC) Has Announced That It Will Be Increasing Its Dividend To ₹13.50
ICICI Securities Limited ( NSE:ISEC ) has announced that it will be increasing its dividend on the 17th of September to...
This Just In: Analysts Are Boosting Their ICICI Securities Limited (NSE:ISEC) Outlook for This Year
Celebrations may be in order for ICICI Securities Limited ( NSE:ISEC ) shareholders, with the analysts delivering a...
|ISEC||IN Capital Markets||IN Market|
Return vs Industry: ISEC exceeded the Indian Capital Markets industry which returned 55% over the past year.
Return vs Market: ISEC underperformed the Indian Market which returned 59.4% over the past year.
Stable Share Price: ISEC is less volatile than 75% of Indian stocks over the past 3 months, typically moving +/- 5% a week.
Volatility Over Time: ISEC's weekly volatility (5%) has been stable over the past year.
About the Company
ICICI Securities Limited provides institutional and retail broking, merchant banking, and advisory services to corporates, financial institutions, high net-worth individuals, and retail investors in India. The company operates through three segments:; Treasury, Broking & Distribution, and Issuer Services & Advisory. It operates ICICIdirect.com, an online broking platform to invest in equity, derivatives, currency futures, and margin trading funding; and distributes financial products and services, such as mutual funds, fixed deposits, loans, tax services, pension products, rental discounting, asset financing, overdraft, and life and general insurance products.
Is ICICI Securities undervalued compared to its fair value and its price relative to the market?
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: ISEC (₹754.3) is trading above our estimate of fair value (₹440.42)
Significantly Below Fair Value: ISEC is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: ISEC is poor value based on its PE Ratio (20.5x) compared to the Indian Capital Markets industry average (16.1x).
PE vs Market: ISEC is poor value based on its PE Ratio (20.5x) compared to the Indian market (20.4x).
Price to Earnings Growth Ratio
PEG Ratio: ISEC is poor value based on its PEG Ratio (3.5x)
Price to Book Ratio
PB vs Industry: ISEC is overvalued based on its PB Ratio (11.4x) compared to the IN Capital Markets industry average (0.8x).
How is ICICI Securities forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: ISEC's forecast earnings growth (5.8% per year) is below the savings rate (6.8%).
Earnings vs Market: ISEC's earnings (5.8% per year) are forecast to grow slower than the Indian market (18.4% per year).
High Growth Earnings: ISEC's earnings are forecast to grow, but not significantly.
Revenue vs Market: ISEC's revenue (7.7% per year) is forecast to grow slower than the Indian market (12.6% per year).
High Growth Revenue: ISEC's revenue (7.7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: ISEC's Return on Equity is forecast to be very high in 3 years time (46.8%).
How has ICICI Securities performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: ISEC has high quality earnings.
Growing Profit Margin: ISEC's current net profit margins (44.6%) are higher than last year (35%).
Past Earnings Growth Analysis
Earnings Trend: ISEC's earnings have grown significantly by 23.2% per year over the past 5 years.
Accelerating Growth: ISEC's earnings growth over the past year (90.8%) exceeds its 5-year average (23.2% per year).
Earnings vs Industry: ISEC earnings growth over the past year (90.8%) exceeded the Capital Markets industry 62.9%.
Return on Equity
High ROE: Whilst ISEC's Return on Equity (55.45%) is outstanding, this metric is skewed due to their high level of debt.
How is ICICI Securities's financial position?
Financial Position Analysis
Short Term Liabilities: ISEC's short term assets (₹4.2B) do not cover its short term liabilities (₹59.2B).
Long Term Liabilities: ISEC's short term assets (₹4.2B) do not cover its long term liabilities (₹82.6B).
Debt to Equity History and Analysis
Debt Level: ISEC is debt free.
Reducing Debt: ISEC has no debt compared to 5 years ago when its debt to equity ratio was 54.4%.
Debt Coverage: ISEC has no debt, therefore it does not need to be covered by operating cash flow.
Interest Coverage: ISEC has no debt, therefore coverage of interest payments is not a concern.
What is ICICI Securities's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: ISEC's dividend (3.58%) is higher than the bottom 25% of dividend payers in the Indian market (0.34%).
High Dividend: ISEC's dividend (3.58%) is in the top 25% of dividend payers in the Indian market (1.43%)
Stability and Growth of Payments
Stable Dividend: ISEC has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: ISEC's dividend payments have increased, but the company has only paid a dividend for 3 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (58.4%), ISEC's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: ISEC's dividends in 3 years are forecast to be covered by earnings (65.2% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Vijay Chandok (53 yo)
Mr. Vijay Kumar Chandok, B.Tech, MMS, has been Managing Director, Chief Executive Officer and Additional Director of ICICI Securities Ltd. since May 07, 2019. Mr. Chandok served as an Executive Director of...
CEO Compensation Analysis
Compensation vs Market: Vijay's total compensation ($USD601.13K) is about average for companies of similar size in the Indian market ($USD628.73K).
Compensation vs Earnings: Vijay's compensation has been consistent with company performance over the past year.
Experienced Management: ISEC's management team is seasoned and experienced (7.8 years average tenure).
Experienced Board: ISEC's board of directors are considered experienced (3.8 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: ISEC insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
ICICI Securities Limited's employee growth, exchange listings and data sources
- Name: ICICI Securities Limited
- Ticker: ISEC
- Exchange: NSEI
- Founded: 1995
- Industry: Investment Banking and Brokerage
- Sector: Diversified Financials
- Market Cap: ₹243.328b
- Shares outstanding: 322.59m
- Website: https://www.icicisecurities.com
Number of Employees
- ICICI Securities Limited
- ICICI Centre
- H.T. Parekh Marg
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/09/16 15:34|
|End of Day Share Price||2021/09/16 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.