ICICI Securities Q4 Review - Strong Customer Acquisition; Distribution Segment Healthy: Motilal Oswal 
Computer keyboards and screens used for trading on the financial markets are seen on a trader’s desk. (Photographer: Chris Ratcliffe/Bloomberg)

ICICI Securities Q4 Review - Strong Customer Acquisition; Distribution Segment Healthy: Motilal Oswal 

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

Q4 FY21 was another robust quarter in an overall strong year for ICICI Securities Ltd.

Profit after tax more than doubled year-on-year to Rs 3.3 billion (45% beat), driven by 54% growth in revenue, coupled with significantly lower cost-to-income ratio.

In FY21, the company delivered 50%/97% revenue/profit after tax growth.

We increase our FY22E/FY23E earnings per share estimate by approximately 10% to factor in healthy brokerage revenue.

Click on the attachment to read the full report:

Motilal Oswal ICICI Securities Q4FY21 Result Review.pdf

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