ICICI Securities (I-Sec), a part of the ICICI Group and India's leading retail led equity franchise, today announced financial results for quarter and full year period ending March 31st 2019 (Q4FY19 and FY19).
Q4FY19 Performance Highlights
- Revenue at Rs. 428 crore, up 6% QoQ; PAT at Rs. 122 crore, up 21% QoQ
- Broking market share up 50 bps sequentially to 8.5%
- Rs. 5.7 per equity share (face value Rs. 5) final dividend recommended
FY19 Performance Highlights
- Second best year in terms of financial performance; PAT at Rs. 491 crore; Revenue at Rs. 1,727 crore
- 1.3 million active clients; 4.5L new clients acquired
- I-Sec average MF AUM grew by 15% against 12% for the industry
- Cost to income ratio at 56%; absolute cost down by 4%
- Total dividend for the year announced Rs. 9.4 per share (face value Rs. 5); Dividend payout ratio ~62%
The current financial year followed a strong base year for equities in FY2018. FY2019 saw muted market due to global and political developments for most part of the year resulting in narrow participation in delivery based trade and risk aversion to mid and small cap stocks. The year witnessed a sharp drop in primary market activities and subdued qualified institutional transactions and private equity deals. In the mutual fund front, various regulatory changes implemented during the year saw shifting of upfront commission to trail based commission and reduction of TER (Total expense ratio).
In spite of these headwinds and against an outlier base year in FY2018, I-Sec reported its second best year in terms of financial performance. For the full year, the company reported revenue of Rs. 1,727 crore and Profit After Tax (PAT) of Rs. 491 crore. During the quarter, I-Sec reported revenues of Rs. 428 crore and PAT of Rs. 122 crore. Sequentially - i.e. against Q3FY19, revenue and net profit were up 6% and 21% respectively.
The Board recommended a final dividend of Rs. 5.7 per equity share of face value of Rs. 5, taking the total dividend for the year to Rs. 9.4 per share. This amounts to dividend payout ratio (dividend / net profit) of ~62%.
Commenting on the performance of the company Ms. Shilpa Kumar, Managing Director and Chief Executive Officer, said, "As a lifecycle based investment house for retail and institutional clients, we have remained focused on our twin strategy of growing the customer base and increasing customer engagement. Our approach is aided by technological edge which we further intend to enhance by adopting digital openness. In FY2019, an otherwise challenging year, we have worked on re-architecting key strategic dimensions of the company. We believe that these initiatives will act a growth engines for the future."
Shares of ICICI Securities Ltd was last trading in BSE at Rs.218.8 as compared to the previous close of Rs. 219.85. The total number of shares traded during the day was 7947 in over 273 trades.
The stock hit an intraday high of Rs. 223.75 and intraday low of 217.25. The net turnover during the day was Rs. 1757356.