ICICI Securities (Delisted) share price

BSE: 541179Capital Markets

ICICI Securities Limited · Face value ₹5 · Listed Apr 2018

Last traded ₹896.20 on 21 Mar 2025

Delisted on 16 Jan 2026.

Last announcements

The company's own last announcements before its shares stopped trading, routine notices left out.

Mar 2025
- 17 Mar · Disclosure
  Allotment of 99,779 Shares.
- 17 Mar · Disclosure
  This is to inform you that we have allotted 99,779 equity shares of face value of Rs. 5/- each on March 17, 2025.
- 12 Mar · Suspension of Trading
  Members of the Exchange are hereby informed that the trading in equity shares of ICICI Securities Limited shall be suspended w.e.f. March 24, 2025 (i.e., closing hours of trading on March 21, 2025) on account of the Scheme of Arrangement.
- 11 Mar · Corporate action
  Record date for the purpose of Record Date for the purpose of Scheme of Arrangement is 24-Mar-2025.
- 11 Mar · Corporate action
  Intimation of 'Record Date' for the purpose of determining the Public Shareholders of the Company whose Equity Shares will stand cancelled and to whom the Equity Shares of ICICI Bank ....
- 10 Mar · Updates
  Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Q3 results, quarter to Dec 2024

Consolidated: the company and its subsidiaries together. ₹ crore.

Revenue: ₹1,586 Cr+19.9% on a year ago · −7.1% on the quarter before
Operating profit: ₹1,169 Cr+28.3% on a year ago · +0.1% on the quarter before
Net profit: ₹504 Cr+8.3% on a year ago · −4.6% on the quarter before
Earnings per share: ₹15.53+7.8% on a year ago · −4.9% on the quarter before
Operating margin: 73.7%
Net margin: 31.8%

From revenue to net profit, ₹ crore

Revenue1,586
Operating expenses−417
Operating profit1,169
Depreciation−39
Other income−0.1
Finance costs−454
Profit before tax676
Tax−172
Net profit504

ICICI Securities results by quarter

Consolidated: the company and its subsidiaries together. Latest quarter to Dec 2024. Results for the quarter to Mar 2025 were due by 30 May 2025, 60 days after it ends. Every company's dates are on the results calendar.

Revenue and net profit by quarter, ₹ crore

Revenue
Net profit

Peak revenue ₹1,707 Cr, quarter to Sep 2024; lowest ₹794 Cr, quarter to Jun 2022

Operating and net margin by quarter, per cent

Operating margin
Net margin

₹ crore	Mar 2020	Jun 2020Q1	Sep 2020	Dec 2020Q3	Mar 2021	Jun 2021Q1	Sep 2021	Dec 2021Q3	Mar 2022	Jun 2022Q1	Sep 2022	Dec 2022Q3	Mar 2023	Jun 2023Q1	Sep 2023	Dec 2023Q3	Mar 2024	Jun 2024Q1	Sep 2024	Dec 2024Q3
Revenue from operations	480	546	681	620	739	745	856	942	892	794	858	879	885	934	1,249	1,323	1,543	1,641	1,707	1,586
	229	251	267	223	254	275	313	333	329	311	335	330	337	363	439	412	464	506	539	417
Materials and goods bought	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Operating profit before depreciation	251	295	414	397	486	471	544	608	563	483	523	549	548	571	810	911	1,079	1,135	1,168	1,169
Operating margin	52.3%	54.1%	60.8%	64.0%	65.7%	63.1%	63.5%	64.6%	63.2%	60.8%	61.0%	62.4%	61.9%	61.1%	64.9%	68.9%	69.9%	69.2%	68.4%	73.7%
Depreciation and amortisation	16	13	13	14	14	14	15	16	17	16	19	19	21	22	26	27	34	37	39	39
Other income	2	0	0	0	0	2	0	0	1	1	7	1	0	0	0	1	1	3	0	0
Finance costs	29	23	28	25	31	42	58	83	91	100	108	153	175	185	215	261	327	394	419	454
One-off items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Profit before tax	208	259	372	358	441	417	471	510	455	367	404	377	353	364	569	624	720	708	711	676
	52	66	94	91	112	106	120	129	115	93	103	96	91	94	146	158	183	181	182	172
Current tax	53	69	100	89	102	108	119	126	104	95	104	94	85	94	144	155	181	181	180	175
Deferred tax	−1	−3	−6	2	10	−2	1	3	11	−1	−1	2	5	0	2	3	2	0	2	−3
Tax rate	25.0%	25.6%	25.3%	25.4%	25.3%	25.4%	25.4%	25.4%	25.3%	25.5%	25.6%	25.5%	25.6%	25.7%	25.6%	25.4%	25.5%	25.5%	25.6%	25.4%
Net profit	156	193	278	267	329	311	351	380	340	274	300	281	263	271	424	466	537	527	529	504
Other comprehensive income	−2	0	−1	0	3	−6	2	2	1	−6	4	1	1	−5	2	0	2	−17	1	1
Total comprehensive income	154	193	278	267	332	305	353	383	341	268	304	282	263	266	425	466	539	510	530	505
Net margin	32.4%	35.4%	40.9%	43.1%	44.6%	41.7%	41.0%	40.4%	38.2%	34.5%	35.0%	32.0%	29.7%	29.0%	33.9%	35.2%	34.8%	32.1%	31.0%	31.8%
Earnings per share	₹4.84	₹5.99	₹8.64	₹8.29	₹10.22	₹9.64	₹10.89	₹11.79	₹10.54	₹8.48	₹9.30	₹8.71	₹8.13	₹8.39	₹13.11	₹14.41	₹16.60	₹16.29	₹16.33	₹15.53
Diluted earnings per share	₹4.83	₹5.98	₹8.61	₹8.28	₹10.21	₹9.62	₹10.84	₹11.73	₹10.50	₹8.46	₹9.28	₹8.68	₹8.12	₹8.36	₹13.06	₹14.34	₹16.47	₹16.17	₹16.20	₹15.43

Earnings per share in rupees, restated for later splits and bonuses.

Segment results by quarter

Consolidated, ₹ crore, quarters to Dec 2024.

Broking & distribution
Revenue, ₹ crore
806
736
769
798
827
836
1,105
1,163
1,378
1,451
1,521
1,401
Mar 22Jun 22Sep 22Dec 22Mar 23Jun 23Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24
Profit, ₹ crore
405
342
351
343
333
329
495
539
609
591
589
566
Mar 22Jun 22Sep 22Dec 22Mar 23Jun 23Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24
Issuer services & advisory
Revenue, ₹ crore
65
35
49
48
13
36
79
97
105
127
115
125
Mar 22Jun 22Sep 22Dec 22Mar 23Jun 23Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24
Profit, ₹ crore
37
10
21
21
2
13
56
73
89
95
99
99
Mar 22Jun 22Sep 22Dec 22Mar 23Jun 23Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24
Treasury
Revenue, ₹ crore
22
24
42
33
45
63
65
63
62
63
71
60
Mar 22Jun 22Sep 22Dec 22Mar 23Jun 23Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24
Profit, ₹ crore
13
14
26
14
18
22
18
12
25
17
23
12
Mar 22Jun 22Sep 22Dec 22Mar 23Jun 23Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24

₹ crore	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Revenue of all businesses	892	795	860	880	885	934	1,249	1,323	1,544	1,641	1,707	1,586
Company revenue, as in its results	892	794	858	879	885	934	1,249	1,323	1,543	1,641	1,707	1,586
Revenue	806	736	769	798	827	836	1,105	1,163	1,378	1,451	1,521	1,401
Revenue growth	19.7%	7.4%	2.2%	−1.3%	2.7%	13.5%	43.7%	45.7%	66.6%	73.7%	37.7%	20.5%
Profit	405	342	351	343	333	329	495	539	609	591	589	566
Profit growth	0.8%	−11.0%	−11.8%	−19.0%	−17.9%	−3.9%	40.9%	57.2%	83.1%	79.7%	18.9%	4.9%
Margin	50.3%	46.5%	45.7%	43.0%	40.2%	39.4%	44.8%	46.4%	44.2%	40.8%	38.7%	40.4%
Assets	12,667	12,560	12,711	13,779	13,398	14,048	18,057	20,253	22,910	25,293	28,890	29,773
Liabilities	10,552	10,149	10,393	11,545	10,865	11,183	15,019	17,268	19,236	21,780	24,669	25,252
Capital employed	2,115	2,411	2,318	2,234	2,533	2,865	3,038	2,985	3,674	3,513	4,221	4,521
Revenue	65	35	49	48	13	36	79	97	105	127	115	125
Revenue growth	21.8%	−26.1%	−32.9%	−56.3%	−80.5%	3.3%	61.9%	101.7%	724.4%	250.6%	45.8%	28.2%
Profit	37	10	21	21	2	13	56	73	89	95	99	99
Profit growth	9.7%	−59.9%	−60.3%	−72.0%	−93.6%	22.6%	172.2%	250.5%	3,657.0%	643.0%	75.9%	35.4%
Margin	57.1%	29.9%	42.4%	43.0%	18.7%	35.5%	71.2%	74.8%	85.2%	75.3%	85.9%	78.9%
Assets	65	73	62	63	33	42	80	108	83	101	120	163
Liabilities	69	52	48	60	59	40	54	54	91	40	51	67
Capital employed	−4	21	14	3	−26	2	26	54	−8	62	68	96
Revenue	22	24	42	33	45	63	65	63	62	63	71	60
Revenue growth	66.4%	57.0%	35.4%	45.1%	108.0%	164.3%	55.0%	89.6%	37.0%	0.5%	8.7%	−4.4%
Profit	13	14	26	14	18	22	18	12	25	17	23	12
Profit growth	143.3%	143.2%	24.9%	9.3%	40.5%	57.7%	−30.0%	−13.0%	38.3%	−22.1%	30.1%	1.8%
Margin	59.3%	59.9%	61.5%	41.0%	40.0%	35.7%	27.8%	18.8%	40.4%	27.7%	33.2%	20.0%
Assets	748	600	1,164	1,324	1,963	2,585	2,466	2,162	2,479	2,232	2,546	2,439
Liabilities	595	470	1,055	1,159	1,792	2,444	2,367	1,951	2,306	1,920	2,375	2,118
Capital employed	153	130	109	166	172	140	99	211	172	312	171	321
Revenue	–	–	–	–	–	–	–	–	–	3	0	0
Profit	–	–	–	–	–	–	–	–	–	3	0	0
Assets	–	–	–	–	–	–	–	–	–	0	0	0
Liabilities	–	–	–	–	–	–	–	–	–	0	0	0

Profit is before tax and finance costs, the way companies report their segments.

7 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings

Peak revenue ₹5,049 Cr, year to Mar 2024; lowest ₹1,705 Cr, year to Mar 2019

Operating and net margin, per cent

Results for the year to Mar 2024

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue5,049
Operating expenses−1,678
Operating profit3,372
Depreciation−109
Other income+1.9
One-off items0.0
Finance costs−987
Profit before tax2,278
Tax−581
Net profit1,697

What the company owns

Plant, investments and other assets₹13,412 Cr
Cash and bank₹11,251 Cr
Receivables₹959 Cr

What pays for it: net worth and liabilities

Borrowings₹16,680 Cr
Other liabilities₹5,020 Cr
Net worth₹3,923 Cr

ICICI Securities business segments, year to Mar 2024

A reportable segment is a line of business the company must report on its own. Consolidated, ₹ crore, as the company reports them.

Revenue by segment

₹5,051 CrTotal

Broking & distribution₹4,481 Cr88.7% of total
Issuer services & advisory₹317 Cr6.3% of total
Treasury₹253 Cr5.0% of total

Profit by segment

Broking & distribution₹1,972 Cr86.5% of total
Issuer services & advisory₹231 Cr10.1% of total
Treasury₹77 Cr3.4% of total

Segment results by year

Consolidated, ₹ crore, years to March.

Broking & distribution
Revenue, ₹ crore
2,358
3,052
3,131
4,481
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24
Profit, ₹ crore
1,312
1,611
1,369
1,972
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24
Issuer services & advisory
Revenue, ₹ crore
161
296
145
317
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24
Profit, ₹ crore
81
189
54
231
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24
Treasury
Revenue, ₹ crore
66
91
144
253
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24
Profit, ₹ crore
37
52
72
77
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Revenue of all businesses	1,706	1,710	2,586	3,438	3,420	5,051
Company revenue, as in its results	1,705	1,706	2,586	3,435	3,416	5,049
Revenue	–	–	2,358	3,052	3,131	4,481
Revenue growth	–	–	–	29.4%	2.6%	43.1%
Profit	–	–	1,312	1,611	1,369	1,972
Profit growth	–	–	–	22.8%	−15.0%	44.1%
Margin	–	–	55.6%	52.8%	43.7%	44.0%
Return on capital	–	–	89.4%	76.2%	54.1%	53.7%
Assets	–	–	7,207	12,667	13,398	22,910
Liabilities	–	–	5,739	10,552	10,865	19,236
Capital employed	–	–	1,469	2,115	2,533	3,674
Revenue	–	–	161	296	145	317
Revenue growth	–	–	–	83.3%	−51.0%	119.0%
Profit	–	–	81	189	54	231
Profit growth	–	–	–	133.3%	−71.3%	325.3%
Margin	–	–	50.3%	64.1%	37.5%	72.9%
Return on capital	–	–	318.1%	–	–	–
Assets	–	–	46	65	33	83
Liabilities	–	–	20	69	59	91
Capital employed	–	–	26	−4	−26	−8
Revenue	–	–	66	91	144	253
Revenue growth	–	–	–	36.6%	58.9%	75.3%
Profit	–	–	37	52	72	77
Profit growth	–	–	–	39.5%	38.4%	7.9%
Margin	–	–	56.0%	57.1%	49.8%	30.6%
Return on capital	–	–	24.2%	34.0%	41.8%	44.9%
Assets	–	–	753	748	1,963	2,479
Liabilities	–	–	599	595	1,792	2,306
Capital employed	–	–	153	153	172	172
Revenue	1,581	1,594	–	–	–	–
Revenue growth	–	0.8%	–	–	–	–
Profit	698	735	–	–	–	–
Profit growth	–	5.4%	–	–	–	–
Margin	44.1%	46.1%	–	–	–	–
Return on capital	90.5%	115.7%	–	–	–	–
Assets	4,070	3,560	–	–	–	–
Liabilities	3,300	2,924	–	–	–	–
Capital employed	771	636	–	–	–	–
Revenue	99	76	–	–	–	–
Revenue growth	–	−22.9%	–	–	–	–
Profit	25	18	–	–	–	–
Profit growth	–	−30.1%	–	–	–	–
Margin	25.5%	23.1%	–	–	–	–
Assets	23	20	–	–	–	–
Liabilities	59	51	–	–	–	–
Capital employed	−36	−31	–	–	–	–
Revenue	27	40	–	–	–	–
Revenue growth	–	50.3%	–	–	–	–
Profit	14	−15	–	–	–	–
Margin	51.6%	−37.5%	–	–	–	–
Return on capital	12.2%	−3.8%	–	–	–	–
Assets	367	653	–	–	–	–
Liabilities	254	258	–	–	–	–
Capital employed	112	395	–	–	–	–

Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Consolidated, ₹ crore, years to March. The last column is the twelve months to Dec 2024, the latest four quarters added.

₹ crore	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Dec 2024Twelve months
Revenue from operations	1,859	1,705	1,706	2,586	3,435	3,416	5,049	6,476
	940	913	824	994	1,250	1,313	1,678	1,926
Materials and goods bought	–	0	0	0	0	0	0	0
Operating profit before depreciation	920	792	882	1,592	2,185	2,103	3,372	4,551
Operating margin	49.5%	46.5%	51.7%	61.6%	63.6%	61.6%	66.8%	70.3%
Depreciation and amortisation	15	15	61	54	63	75	109	148
Operating profit after depreciation	904	777	821	1,538	2,123	2,028	3,263	4,403
Other income	0	22	19	0	4	10	2	5
Finance costs	49	42	86	107	274	536	987	1,593
One-off items	0	0	0	0	0	0	0	0
Profit before tax	855	757	753	1,431	1,853	1,501	2,278	2,815
	297	267	211	363	470	383	581	718
Current tax	313	272	196	360	456	378	574	717
Deferred tax	−16	−6	15	3	14	5	7	1
Net profit	558	491	542	1,068	1,383	1,118	1,697	2,097
Other comprehensive income	–	−3	−6	3	0	0	−1	−13
Total comprehensive income	–	488	536	1,070	1,382	1,118	1,696	2,084
Net margin	30.0%	28.8%	31.8%	41.3%	40.3%	32.7%	33.6%	32.4%

Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the year to Mar 2018 they do not, so they are left blank.

Balance sheet

Consolidated, ₹ crore, at 31 March. The last column is the half year to Sep 2024, after the latest full year: the balance sheet at its end.

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024Half year
	1,047	1,210	1,822	2,431	2,853	3,923	4,465
Share capital	161	161	161	161	161	162	162
Reserves	886	1,048	1,661	2,269	2,691	3,761	4,303
Borrowings	447	1,498	3,521	7,739	9,293	16,680	22,034
Total assets	4,665	4,443	8,181	13,646	15,569	25,623	31,694
Plant in use, after depreciation	29	30	42	63	124	270	–
Plant being built	1	3	4	11	19	19	–
Trade receivables	477	89	459	385	773	959	312
Cash and cash equivalents	1,884	542	309	774	241	78	224
Other bank balances	1,265	1,869	3,570	4,843	6,550	11,174	13,355
Net debt	−2,701	−914	−358	2,123	2,502	5,428	8,455

Borrowings are counted again inside the liabilities due within a year and after a year. Plant in use and plant being built are given for full years only. No balance sheet is on record for the year to Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March. The last column is the half year to Sep 2024, after the latest full year: the cash flow over its six months.

₹ crore	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024Half year
Cash from operations	−1,610	−2,597	−674	−5,621	−3,732
Capital spending	41	64	126	259	138
Free cash flow	−1,650	−2,662	−800	−5,880	−3,870
Cash from investing	−40	−69	−125	−257	−138
Cash from financing	1,417	3,130	266	5,715	4,016
Dividends paid	475	798	726	687	550
Shares bought back	0	0	0	0	0
Shares issued	0	11	0	0	0
Net change in cash	−233	464	−533	−163	147

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2018, Mar 2019 and Mar 2020.

Consolidated, ₹ per share, years to March.

₹ per share	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Earnings per share	₹17.31	₹15.23	₹16.83	₹33.14	₹42.86	₹34.62	₹52.51
Diluted earnings per share	₹17.31	₹15.23	₹16.81	₹33.08	₹42.69	₹34.54	₹52.22
Book value per share	–	₹32.51	₹37.55	₹56.55	₹75.32	₹88.35	₹121.31
Shareholder yield	–	–	–	3.9%	3.9%	5.3%	2.9%
Market cap at the year end (₹ crore)	–	7,796	8,906	12,335	20,046	13,819	23,517

Ratios

Consolidated, years to March.

Ratio	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Revenue growth	–	−8.3%	0.1%	51.6%	32.8%	−0.6%	47.8%
Operating profit growth	–	−13.9%	11.4%	80.5%	37.3%	−3.8%	60.3%
Net profit growth	–	−12.0%	10.4%	97.0%	29.5%	−19.2%	51.8%
Earnings per share growth	–	−12.0%	10.5%	96.9%	29.3%	−19.2%	51.7%
	–	46.9%	48.0%	70.4%	65.0%	42.3%	50.1%
	–	–	1.2 pts	22.4 pts	−5.4 pts	−22.7 pts	7.8 pts
From the net margin	–	–	4.8 pts	14.4 pts	−1.8 pts	−12.2 pts	1.1 pts
From asset turnover	–	–	1.3 pts	5.8 pts	−15.9 pts	−13.6 pts	2.1 pts
From borrowing	–	–	−5.0 pts	2.2 pts	12.3 pts	3.0 pts	4.5 pts
Return on capital employed	–	52.0%	30.3%	28.8%	20.9%	16.7%	15.8%
Cash conversion	–	–	–	−150.7%	−187.9%	−60.3%	−331.3%
Interest cover	18.3	18.4	9.5	14.3	7.8	3.8	3.3
Debt to equity	–	0.43	1.24	1.93	3.18	3.26	4.25
Receivable days	–	102	19	65	41	83	69
Asset turnover	–	0.37	0.37	0.41	0.31	0.23	0.25
Assets per rupee of net worth	–	4.45	4.04	4.16	5.13	5.53	6.08
Sales per rupee of plant	–	57.82	57.80	61.58	54.77	27.59	18.67
Capital spending to depreciation	–	–	–	0.75	1.03	1.68	2.38
Plant being built, % of plant in use	–	4.2%	11.1%	9.4%	17.5%	15.6%	6.9%

No balance sheet is on record for the year to Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2024.

Return on assets, latest year: 8.2%
Cash from operations against operating profit: −166.7%

Measure	5 years	3 years
Revenue growth, yearly rate	24.3%	25.0%
Profit growth, yearly rate	28.2%	16.7%
Return on equity, average	55.2%	52.5%
Return on capital employed, average	22.5%	17.8%
Operating margin, average	61.0%	64.0%
Net margin, average	35.9%	35.5%
Asset turnover, average	0.32	0.26
Interest cover, average	7.7	4.9
Debt to equity, average	2.77	3.56

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2024.

₹ crore	3 years	Latest year
Cash from operations	−8,893	−5,621
Cash from investing	−450	−257
Cash from financing	9,111	5,715
Capital spending	449	259
Dividends paid	2,211	687
Shares bought back	0	0
Shares issued for cash	11	0

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	–	43.05	37.10	13.12	36.78
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	–	−1.37	−2.12
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	0.05	0.06	0.13	0.14	0.07
Effective tax ratePublished threshold 17.16 per cent	34.76	35.19	28.01	25.37	25.38	25.55	25.50
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	0.40	−0.05	3.93

A threshold marked as ours has no published figure; it is the line we read the check against.

Where the return came from

Yearly rates to Mar 2024, per-share figures restated for splits and bonuses.

Over	Return a year	Earnings growth	Change in P/E	Dividend yield
1 year	+70.0%	+51.7%	+12.1%	0.0%
3 years	+23.9%	+16.6%	+6.3%	0.0%
5 years	+24.6%	+28.1%	−2.7%	0.0%

Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add.

Who owns ICICI Securities, filing by filing

Per cent of the company's shares. Every filing on record, from Sep 2021; the latest is the filing for Dec 2024.

Dec 2024 filing

Promoters74.35%
Foreign institutions11.17%
Indian institutions8.49%
GovernmentsNone
Individuals and others6.00%

Shareholding pattern, per cent, from Sep 2022

Promoters
Foreign institutions
Indian institutions
Governments
Individuals and others

Per cent	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
	74.91%	74.89%	74.89%	74.87%	74.86%	74.85%	74.85%	74.83%	74.79%	74.77%	74.74%	74.65%	74.59%	74.35%
Indian promoters	74.91%	74.89%	74.89%	74.87%	74.86%	74.85%	74.85%	74.83%	74.79%	74.77%	74.74%	74.65%	74.59%	74.35%
	25.09%	25.11%	25.11%	25.13%	25.14%	25.15%	25.15%	25.17%	25.21%	25.23%	25.26%	25.35%	25.41%	25.65%
	–	–	–	–	7.43%	7.76%	8.75%	9.48%	10.06%	10.33%	10.43%	9.31%	10.45%	11.17%
Foreign portfolio investors, category I	–	–	–	–	7.43%	7.63%	8.65%	9.38%	9.95%	10.20%	10.14%	8.99%	10.17%	10.89%
Foreign portfolio investors, category II	–	–	–	–	0.00%	0.14%	0.10%	0.10%	0.11%	0.13%	0.29%	0.32%	0.28%	0.28%
	–	–	–	–	6.24%	5.81%	5.06%	5.08%	6.21%	6.35%	7.38%	10.02%	9.07%	8.49%
Mutual funds	3.54%	3.11%	2.56%	2.07%	1.73%	1.73%	1.03%	0.99%	2.25%	2.12%	3.16%	6.23%	5.67%	5.12%
Insurance companies	0.00%	0.00%	0.00%	0.00%	3.22%	3.15%	3.14%	3.20%	3.24%	3.56%	3.63%	3.02%	2.59%	2.58%
Alternative investment funds	1.32%	1.11%	1.19%	1.36%	1.29%	0.94%	0.89%	0.89%	0.71%	0.67%	0.59%	0.77%	0.80%	0.79%
Non-bank lenders registered with RBI	–	–	–	–	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%
	–	–	–	–	0.00%	0.00%	0.00%	0.00%	Under 0.01%	Under 0.01%	0.00%	0.00%	0.00%	0.00%
Government-promoted companies	–	–	–	–	0.00%	0.00%	0.00%	0.00%	Under 0.01%	Under 0.01%	0.00%	0.00%	0.00%	0.00%
	–	–	–	–	11.47%	11.57%	11.35%	10.61%	8.94%	8.55%	7.44%	6.02%	5.89%	6.00%
Resident individuals, up to ₹2 lakh at face value	–	–	–	–	7.67%	7.77%	7.69%	7.12%	6.19%	5.86%	4.94%	3.83%	3.72%	3.69%
Resident individuals, over ₹2 lakh at face value	–	–	–	–	1.19%	1.17%	1.11%	1.08%	0.84%	0.71%	0.64%	0.31%	0.66%	0.84%
Companies	–	–	–	–	1.38%	1.33%	1.37%	1.36%	1.08%	1.16%	1.09%	1.34%	0.97%	0.94%
Non-resident Indians	–	–	–	–	0.79%	0.80%	0.80%	0.67%	0.58%	0.58%	0.54%	0.39%	0.40%	0.38%
Directors and their relatives	–	–	–	–	0.01%	0.01%	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Key managers	–	–	–	–	Under 0.01%	Under 0.01%	Under 0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	–	–	–	–	0.43%	0.48%	0.37%	0.36%	0.24%	0.24%	0.23%	0.15%	0.13%	0.15%
Trusts	–	–	–	–	0.13%	0.11%	0.08%	0.08%	0.02%	0.02%	0.01%	Under 0.01%	Under 0.01%	Under 0.01%
Clearing Members	–	–	–	–	0.03%	0.08%	0.01%	0.03%	0.01%	0.01%	0.02%	Under 0.01%	Under 0.01%	Under 0.01%
Hindu undivided families	–	–	–	–	0.27%	0.29%	0.28%	0.26%	0.21%	0.21%	0.21%	0.15%	0.13%	0.14%
Shares in issue	32,25,91,521	32,26,69,061	32,26,78,721	32,27,73,181	32,28,16,041	32,28,28,651	32,28,67,726	32,29,50,130	32,31,01,800	32,31,88,940	32,33,53,085	32,37,41,696	32,40,06,828	32,50,67,269

Filings before Sep 2022 are on an older form, which did not split institutions into foreign and Indian and grouped some holders differently, so those columns show only the lines both forms state alike. A dash is a line the filing did not state. “Under 0.01%” is a holding of shares too small to show at two decimals.

Number of ICICI Securities shareholders

Shareholders on the company's register in each filing.

Shareholders, filing by filing

Shareholders	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
All shareholders	1,61,683	1,73,248	1,86,875	1,93,295	1,91,509	1,76,574	1,72,788	1,65,923	1,38,563	1,30,734	1,25,307	1,29,865	1,16,342	1,18,829
	1	1	1	1	1	1	1	1	1	1	2	2	2	2
Indian promoters	1	1	1	1	1	1	1	1	1	1	2	2	2	2
	1,61,682	1,73,247	1,86,874	1,93,294	1,91,508	1,76,573	1,72,787	1,65,922	1,38,562	1,30,733	1,25,305	1,29,863	1,16,340	1,18,827
	–	–	–	–	134	137	126	120	118	134	154	136	142	135
Foreign portfolio investors, category I	–	–	–	–	134	126	118	113	111	126	142	121	130	121
Foreign portfolio investors, category II	–	–	–	–	0	11	8	7	7	8	12	15	12	14
	–	–	–	–	41	42	33	36	36	40	41	44	38	41
Mutual funds	16	16	20	18	19	19	18	17	19	22	24	25	21	19
Insurance companies	0	0	0	0	6	4	3	7	6	7	5	5	3	5
Alternative investment funds	26	22	22	19	15	17	10	10	9	9	9	11	13	13
Non-bank lenders registered with RBI	–	–	–	–	1	2	2	2	2	2	3	3	1	4
	–	–	–	–	0	0	0	0	1	1	0	0	0	0
Government-promoted companies	–	–	–	–	0	0	0	0	1	1	0	0	0	0
	–	–	–	–	1,91,333	1,76,394	1,72,628	1,65,766	1,38,407	1,30,558	1,25,110	1,29,683	1,16,160	1,18,651
Resident individuals, up to ₹2 lakh at face value	–	–	–	–	1,82,045	1,67,279	1,63,433	1,57,181	1,31,059	1,23,310	1,18,211	1,23,779	1,10,628	1,12,908
Resident individuals, over ₹2 lakh at face value	–	–	–	–	36	36	33	34	29	25	24	12	23	23
Companies	–	–	–	–	1,253	1,295	1,289	1,238	1,074	1,079	1,096	701	650	643
Non-resident Indians	–	–	–	–	4,386	4,302	4,443	4,107	3,620	3,644	3,371	3,010	2,833	3,063
Directors and their relatives	–	–	–	–	1	1	1	1	0	0	0	0	0	0
Key managers	–	–	–	–	1	1	1	0	0	0	0	0	0	0
	–	–	–	–	3,611	3,480	3,428	3,205	2,625	2,500	2,408	2,181	2,026	2,014
Trusts	–	–	–	–	9	10	9	8	6	6	8	2	2	3
Clearing Members	–	–	–	–	62	42	29	12	6	6	7	4	4	3
Hindu undivided families	–	–	–	–	3,540	3,428	3,390	3,185	2,613	2,488	2,393	2,175	2,020	2,008

ICICI Securities promoters

Promoters are the founders, families and companies that control the company, as its filings name them. Every member of the promoter group holding shares in the filing for Dec 2024; the largest is ICICI BANK LIMITED, 74.34%.

Holder
ICICI BANK LIMITEDIndian financial institutions and banks	74.34%	24,16,52,692	0.00%
ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITEDIndian companies, trusts and others	0.01%	24,938	0.00%

Pledged is the share of the holder's own shares pledged to a lender.

Largest public holders of ICICI Securities, filing by filing

Per cent, on the same shares as the split above.

Holder	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
THE INCOME FUND OF AMERICAForeign portfolio investors, category I	–	–	–	–	–	–	–	–	1.26%	1.26%	1.26%	1.26%	3.10%	3.36%
GOVERNMENT PENSION FUND GLOBALForeign portfolio investors, category I	–	–	1.05%	1.24%	1.31%	1.59%	3.12%	3.13%	3.13%	3.20%	3.26%	2.07%	1.86%	1.85%
LIFE INSURANCE CORPORATION OF INDIAInsurance companies	1.35%	2.32%	2.32%	2.32%	2.32%	2.32%	2.58%	2.58%	2.58%	2.58%	2.58%	1.97%	1.97%	1.80%
WF ASIAN SMALLER COMPANIES FUND LIMITEDForeign portfolio investors, category I	–	–	–	–	–	–	–	–	–	–	–	–	–	1.24%
FIDELITY FUNDS - INDIA FOCUS FUNDForeign portfolio investors, category I	–	–	–	–	–	–	–	1.20%	1.20%	1.29%	–	–	–	–
SMALLCAP WORLD FUND, INCForeign portfolio investors, category I	1.02%	1.02%	1.02%	1.02%	1.02%	–	–	–	–	–	–	–	–	–
HDFC LIFE INSURANCE COMPANY LIMITEDOther Institutions	1.03%	–	–	–	–	–	–	–	–	–	–	–	–	–

A filing names every holder above one per cent, in the company's own words: an insurer's holding can carry one of its funds' names. A dash is a filing that did not name the holder, which includes holding under one per cent.

Who moved in the Dec 2024 filing

Against the Sep 2024 filing. A filing names a public holder only at 1% or more, so a holder no longer named fell under 1% or sold out.

Foreign institutions: WF ASIAN SMALLER COMPANIES FUND LIMITED newly named at 1.24%; THE INCOME FUND OF AMERICA 3.36%, +0.26 pts; GOVERNMENT PENSION FUND GLOBAL 1.85%, −0.01 pts
Indian institutions: LIFE INSURANCE CORPORATION OF INDIA 1.80%, −0.17 pts

ICICI Securities share price by year

Each calendar year to 2025.

Year	Close at year end	Change	Highest close	Lowest close
2025	896.20	+4.7%	896.20	795.15
2024	856.35	+19.3%	898.15	687.25
2023	718.00	+44.4%	748.15	422.30
2022	497.35	−37.2%	823.45	413.55
2021	791.75	+71.1%	878.50	382.80
2020	462.70	+13.7%	544.35	220.75
2019	406.80	+56.6%	426.85	190.30
2018	259.80	–	445.40	229.35

₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before. 2018 is from its first session, 4 Apr 2018. The 2025 close is its last trade, on 21 Mar 2025.

Recent sessions

The 10 trading days to 21 Mar 2025, as traded on BSE.

Date	Open	High	Low	Close	Average price	Volume
21 Mar 2025	884.00	899.10	878.40	896.20	892.95	53,83,172
20 Mar 2025	877.00	899.00	863.30	881.25	880.86	25,31,721
19 Mar 2025	871.40	880.85	871.35	877.05	876.89	6,37,781
18 Mar 2025	855.55	876.90	855.55	874.70	868.67	6,20,507
17 Mar 2025	836.75	853.35	836.75	849.40	848.68	5,00,677
13 Mar 2025	830.20	840.75	830.20	836.75	836.97	7,27,098
12 Mar 2025	830.35	838.35	824.30	832.10	828.40	19,22,362
11 Mar 2025	795.00	831.95	795.00	830.35	822.55	7,26,718
10 Mar 2025	794.90	806.00	789.05	795.15	799.25	2,80,242
7 Mar 2025	802.20	808.80	788.00	796.00	798.23	1,38,504

Prices in ₹ per share as traded, not adjusted.

Company details

BSE code: 541179
ISIN: INE763G01038
Industry: Capital Markets
Former symbols: ISEC
Website: www.icicisecurities.com
CIN: L67120MH1995PLC086241; Corporate identity number, the registrar of companies' code for it
Incorporated: 1995
Registered office: lClCl Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai 400025, Maharashtra
Share registrar: KFin Technologies Ltd; Keeps the register of shareholders and handles transfers and dividend payments