ISEC

ICICI SecuritiesNSEI:ISEC Stock Report

Market Cap

₹243.3b

7D

4.0%

1Y

57.7%

Updated

16 Sep, 2021

Data

Company Financials +
ISEC fundamental analysis
Snowflake Score
Valuation0/6
Future Growth1/6
Past Performance5/6
Financial Health4/6
Dividends4/6

ISEC Overview

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

Summary of all time highs, changes and price drops for ICICI Securities
Historical stock prices
Current Share Price₹754.30
52 Week High₹376.90
52 Week Low₹802.70
Beta1.14
1 Month Change5.83%
3 Month Change17.99%
1 Year Change57.69%
3 Year Change139.08%
5 Year Changen/a
Change since IPO69.47%

Recent News & Updates

Jul 30
ICICI Securities (NSE:ISEC) Has Announced That It Will Be Increasing Its Dividend To ₹13.50

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...

Jul 22
This Just In: Analysts Are Boosting Their ICICI Securities Limited (NSE:ISEC) Outlook for This Year

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...

Shareholder Returns

ISECIN Capital MarketsIN Market
7D4.0%1.3%2.0%
1Y57.7%56.2%60.1%

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.

Price Volatility

Is ISEC's price volatile compared to industry and market?
ISEC volatility
ISEC Beta1.14
Industry Beta0.80
Market Beta1

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

FoundedEmployeesCEOWebsite
199514,413Vijay Chandokhttps://www.icicisecurities.com

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.

Valuation

Is ICICI Securities undervalued compared to its fair value and its price relative to the market?

20.53x

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).


Future Growth

How is ICICI Securities forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

5.8%

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%).


Past Performance

How has ICICI Securities performed over the past 5 years?

23.2%

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.


Financial Health

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.


Balance Sheet


Dividend

What is ICICI Securities's current dividend yield, its reliability and sustainability?

3.58%

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).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

7.8yrs

Average management tenure


CEO

Vijay Chandok (53 yo)

2.33yrs

Tenure

₹44,200,000

Compensation

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.


Leadership Team

Experienced Management: ISEC's management team is seasoned and experienced (7.8 years average tenure).


Board Members

Experienced Board: ISEC's board of directors are considered experienced (3.8 years average tenure).


Ownership

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

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

ICICI Securities Limited's employee growth, exchange listings and data sources


Key Information

  • 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


Location

  • ICICI Securities Limited
  • ICICI Centre
  • H.T. Parekh Marg
  • Mumbai
  • Maharashtra
  • 400020
  • India

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/16 15:34
End of Day Share Price2021/09/16 00:00
Earnings2021/06/30
Annual Earnings2021/03/31


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.