ICICI Securities

Household Savings Financial Savings Non Financial Savings Savings in Equities % of Equities in Financial Savings

No of Dmat Acc No of Clients

Rs. Millions

FY 2016-17 FY 2017-18 FY 2018-19 18593.3 5577.3

17270.2 4907.3

FY 2019-20

Total Revenue PAT

14042.3 3385.9

17249.4 5420

Broking Revenues Retail Brokerage Institutional Brokerage YoY Change % of Revenue Broking Revenue per Active Client (Rs.) Broking Revenue per Client (Rs.)

7756 10243 9328 9476 7016 9174 8154.2 8187.1 740 1069 1174 1289 #REF! 32.06549768 -8.9329298057 1.5866209262 55.23% 55.09% 54.01% 54.94% 6463.33 7879.23 6433.10 6402.70 2154.44 2560.75 2120.00 1974.17

Distribution Revenue Mutual Fund AUM ('000) Mutual Fund Revenue YoY Change % of Revenue

3497 212 1657 #REF! 24.90%

4675 305 2847 33.69% 25.14%

4635 347 2695 -0.86% 26.84%

4229 362 2263 -8.76% 24.52%

Interest Income Fundings and Late Payments (MTF probab Deposit with Banks YoY Change % of Revenue

1090.6 474.3 602.8 #REF! 7.77%

1582.9 746.3 805.8 45.14% 8.51%

1792 769.6 969.9 13.21% 10.38%

2350 970 1087 31.14% 13.62%

Advisory Services YoY Change % of Revenue

1198 #REF! 8.53%

1430 19.37% 7.69%

990.6 -30.73% 5.74%

763.9 -22.89% 4.43%

No. of Active Clients No. of Clients Added Total No. of Clients YoY Change

1.2 0.4 3.6 #REF!

1.3 0.46 4 11.11%

1.45 0.45 4.4 10.00%

1.48 0.39 4.8 9.09%

FY 2020-21 25861 10677.2

Broking Revenue (Rs. Million) 16000

15045

15045

14000 12000

58.7695230055 58.18% 10030.00 2735.45 8539.6 367 2385 101.93% 33.02%

3448.7 900 1484 46.75% 13.34%

10243 10000 8000

9476

FY 2018-19

FY 2019-20

7756

6000 4000 2000 0

FY 2016-17

FY 2017-18

FY 2020-21

Margin Trade Funding (Rs. Million) 1200 970

1000

900

800

1612.7 111.11% 6.24%

9328

746.3

769.6

FY 2017-18

FY 2018-19

600 474.3 400 200 0

1.5 0.69 5.5 14.58%

FY 2016-17

FY 2019-20

FY 2020-21

Total Clients (Millions) 6

5.5 4.8

5 4

4.4 4 3.6

3 2 1 0

FY 2016-17

FY 2017-18

FY 2018-19

FY 2019-20

FY 2020-21

Distribution Revenue (Rs. Millions)

) 15045

8539.6

2500.00

7000

2154.44

6000

2000.00 4675

5000 4000

4229

1500.00

3000

1000.00

2000 500.00 1000 FY 2020-21

0

FY 2016-17

FY 2017-18

FY 2018-19

FY 2019-20

FY 2020-21

0.00

FY 2016-17

Advisory Service Revenue (Rs. Million) 30000

1800 1612.7

1600

70 900

25000

1430

1400 1198

1200

20000 990.6

1000

15000

763.9

800 600

10000

400

5000

14042.3

200 0 FY 2020-21

0 FY 2016-17

FY 2017-18

FY 2018-19

FY 2019-20

FY 2020-21

FY 2016-17

Broking Revenue per Active Client (Rs.) 12000.00

12000

5.5

10030.00

10000.00

8

19-20

4635

3497

ion)

19-20

3000.00

8000

76

19-20

9000

Br

10000 7879.23

8000.00 6463.33

6402.70

6000.00

6000

4000.00

4000

2000.00

2000

0.00 FY 2020-21

8000 6433.10

1

2

3

4

5

0

3385.9

FY 2016-17

Broking Revenue per Client (Rs.) 3000.00

2735.45 2560.75

2500.00 2154.44

2120.00

2000.00

1974.17

1500.00 1000.00 500.00 0.00

FY 2016-17

FY 2017-18

FY 2018-19

FY 2019-20

FY 2020-21

Total Revenue (Rs. Millions) 30000 25861 25000 20000 15000

18593.3

17270.2

17249.4

FY 2018-19

FY 2019-20

14042.3

10000 5000 0

FY 2016-17

FY 2017-18

FY 2020-21

Profit After Tax (Rs. Million) 12000 10677.2 10000 8000 5577.3

6000 4000

4907.3

5420

3385.9

2000 0

FY 2016-17

FY 2017-18

FY 2018-19

FY 2019-20

FY 2020-21

Rs. Million

FY 2016-17

FY 2017-18 FY 2018-19

FY 2019-20

Employee Cost Total No. of Employees Expense per Employee % YoY Change

4846.6 5453.2 5544.9 5337.7 3790 4180 4051 3790 1.2787862797 1.304593301 1.3687731424 1.4083641161

Marketing and Advertising Cost % YoY Change

85.2 #VALUE!

86.3 1.29%

83.4 -3.36%

100.6 20.62%

Fees and Comission % YoY Change

455.2 #VALUE!

637 39.94%

375 -41.13%

437 16.53%

Interest Expense % YoY Change

276.7 #VALUE!

483.3 74.67%

412.6 -14.63%

848.8 105.72%

Bad and Doubtful Debt Expense % YoY Change

34.6 #VALUE!

12.6 -63.58%

22.3 76.98%

0.2 -99.10%

Rent and Amenities % YoY Change

723.6 #VALUE!

653.7 -9.66%

670.6 2.59%

137.7 -79.47%

Operating Expense % YoY Change

1287.5 #VALUE!

1683.3 30.74%

850.9 -49.45%

586.8 -31.04%

8821.9

10044.6

9697.9

9720.1

Total Expenses

FY 2020-21 5879.6 #DIV/0!

1221.6 179.54%

81.6

769.9 31.20% 11553.9

Operating Income Total Income YoY Change 3 yr CAGR

FY 2016-17 FY 2017-18 FY 2018-19 FY 2019-20 14042.3 18610.1 17045.7 17062.2 14042.3 18610.1 17270.2 17249.4 24.87% 32.53% -7.20% -0.12% #VALUE! 18.28% 7.14% -2.50%

Expenses Finance Cost % YoY Change

289.4 12.00%

494.7 70.94%

423.4 -14.41%

863.9 104.04%

Fees and Commission Expense % YoY Change

455.2 15.71%

692.5 52.13%

375 -45.85%

437 16.53%

Employee Benefits Expense % YoY Change

4846.6 20.75%

5453.2 12.52%

5544.9 1.68%

5337.7 -3.74%

Operating Expense % YoY Change

1287.5 26.85%

1683.3 30.74%

850.9 -49.45%

586.8 -31.04%

Depriciation and Amortization Expense % YoY Change

154.8 -3.01%

153 -1.16%

149.5 -2.29%

614 310.70%

Other Expense % YoY Change

2243.6 -0.02%

2260.2 0.74%

1737.9 -23.11%

2327.3 33.91%

Total Expense % YoY Change

8821.9 17.55%

10044.6 13.86%

9697.9 -3.45%

9720.1 0.23%

Profit Before Tax % YoY Change

5220.4 39.55%

8548.7 63.76%

7572.3 -11.42%

7529.3 -0.57%

Profit After Tax % YoY Change

3385.9 41.84%

5577.3 64.72%

4907.3 -12.01%

5420 10.45%

Earnings Per Equity Share No. of Shares

4.19 805.35

17.31 322.14

15.23 322.14

16.83 322.14

Dividend Paid Dividend Per share

1632.9

1411.1

1939.6

2539.4 11

EBITDA Profit Before Interest and Tax Other Income

FY 2020-21 25861.7 25861.7 49.93% 14.41%

1027.8 18.97% 1221.6 179.54% 5879.6 10.15% 769 31.05% 541.8 -11.76% 2110.1 -9.33% 11553.9 18.87%

14307.8 90.03%

10677.2 97.00%

33.14 322.14

4963.275 21.5

FY 2016-17

FY 2017-18

FY 2018-19

FY 2019-20

FY 2020-21

Cost Efficiency Debt to Equity Return on Equity Ratio Asset Turnover Ratio Quick Ratio P/E Working Capital Ratio EPS Profit Before Tax Margin Return on Asset

80.77% 69.16% Err:508

80.62% 66.86% 75.53%

42.71% 46.86% 45.78%

Earning Retention Ratio (???) CapEx Operating Expense Ratio Accounts Payable Ratio Debtors Turnover Ratio Interest Coverage Ratio Broking Revenue per Client

123.81% 44.81% 37.88%

193.24% 70.00% 40.97%

0.34640522876 0.35123717562 #VALUE!

208.1

147.3

614.4

666.6

Rs. Millions

Asset

FY 2016-17

FY 2017-18

FY 2018-19

20474.4

28801.7

46645.9

20.5

18.9

28.5 2563.1

Investments Securities for trade Long Term Loans and Advances Loans Margin Trade Funding ESOP Funding Capital work-in-progress Property, Plant and Equipment Others % YoY Change

1361.8 1435.4 358.7 6315.6 4032.7 0 5560 3449.4 49.6 226.9 586 0.5 15.1 12.4 241.9 297 294.8 18491 20719.7 39714.4 #VALUE! 0.40671765717 0.6195537069

Financial and Non-Financial Liabilities

15578.6

20459.9

3954.1

6725.1

Equity

4895.8

8341.8

10472.7

Equity Share Capital Other Equity Reserves and Surplus General Reserves Retained Earnings % YoY Change

1610.7 3285.1 3285.1

1610.7 6731.1 6731.1

1610.7 8862 7613

#VALUE! 70.3868622084

25.544846436

Borrowings and Debt Securities Lease Liabilities Payables Other Liabilities % YoY Change

36173.2

4473 0 8699.3 10077.2 23362 2925.2 3657.6 8338.2 #VALUE! 0.31333367568 0.76800473121

FY 2019-20

FY 2020-21

44428.2

81809.1

24.7 8351.1

28.8 4661.7

5708.7 29014.5 2760.8 3040.6 32.9 39.4 295.2 420 30015.6 47644.7 -0.0475432996 0.84137777358

32332.8

63588

14975.3 35209.6 1574.4 1060.8 6926.4 10264.6 8856.7 17053 -0.1061669966 0.9666716152

12095.4

18221.1

1610.7 1611.1 10484.7 16610 244 666.8 9109.5 15.4945716 50.6448732576