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Balance Sheet

Mar '12
12 mths

Mar '11
12 mths

Mar '10
12 mths

Mar '09
12 mths

Capital and Liabilities:


Total Share Capital
Equity Share Capital
Share Application Money
Preference Share Capital
Reserves
Revaluation Reserves
Net Worth
Deposits
Borrowings
Total Debt
Other Liabilities & Provisions
Total Liabilities

1,152.77
1,152.77
2.39
0
59,250.09
0
60,405.25
255,499.96
140,164.91
395,664.87
17,576.98
473,647.10

1,151.82
1,114.89
1,463.29
1,151.82
1,114.89
1,113.29
0.29
0
0
0
0
350
53,938.82 50,503.48 48,419.73
0
0
0
55,090.93 51,618.37 49,883.02
225,602.11 202,016.60 218,347.82
109,554.28 94,263.57 67,323.69
335,156.39 296,280.17 285,671.51
15,986.35 15,501.18 43,746.43
406,233.67 363,399.72 379,300.96

Assets
Cash & Balances with RBI
Balance with Banks, Money at Call
Advances
Investments
Gross Block
Accumulated Depreciation
Net Block
Capital Work In Progress
Other Assets
Total Assets
Contingent Liabilities
Bills for collection
Book Value (Rs)

20,461.29
15,768.02
253,727.66
159,560.04
9,424.39
4,809.70
4,614.69
0
19,515.39
473,647.09
858,566.64
64,457.72
524.01

20,906.97
13,183.11
216,365.90
134,685.96
9,107.47
4,363.21
4,744.26
0
16,347.47
406,233.67
883,774.77
47,864.06
478.31

27,514.29
11,359.40
181,205.60
120,892.80
7,114.12
3,901.43
3,212.69
0
19,214.93
363,399.71
694,948.84
38,597.36
463.01

17,536.33
12,430.23
218,310.85
103,058.31
7,443.71
3,642.09
3,801.62
0
24,163.62
379,300.96
803,991.92
36,678.71
444.94

Mar '08
12 mths

Mar '07
13 mths

Mar '06
14 mths

Mar '05
15 mths

Mar '04
16 mths

Mar '03
17 mths

1,462.68
1,249.34
1,239.83
1,086.75
966.4
962.66
1,112.68
899.34
889.83
736.75
616.4
612.66
0
0
0
0.02
0
0
350
350
350
350
350
350
45,357.53 23,413.92 21,316.16 11,813.20
7,394.16
6,320.65
0
0
0
0
0
0
46,820.21 24,663.26 22,555.99 12,899.97
8,360.56
7,283.31
244,431.05 230,510.19 165,083.17 99,818.78 68,108.58 48,169.31
65,648.43 51,256.03 38,521.91 33,544.50 30,740.24 34,302.42
310,079.48 281,766.22 203,605.08 133,363.28 98,848.82 82,471.73
42,895.39 38,228.64 25,227.88 21,396.17 18,019.49 17,056.93
399,795.08 344,658.12 251,388.95 167,659.42 125,228.87 106,811.97

29,377.53 18,706.88
8,934.37
6,344.90
5,408.00
4,886.14
8,663.60 18,414.45
8,105.85
6,585.07
3,062.64
1,602.86
225,616.08 195,865.60 146,163.11 91,405.15 62,095.52 53,279.41
111,454.34 91,257.84 71,547.39 50,487.35 42,742.86 35,462.30
7,036.00
6,298.56
5,968.57
5,525.65
5,090.20
4,812.98
2,927.11
2,375.14
1,987.85
1,487.61
1,033.79
752.26
4,108.89
3,923.42
3,980.72
4,038.04
4,056.41
4,060.72
0
189.66
147.94
96.3
93.99
156.21
20,574.63 16,300.26 12,509.57
8,702.59
7,769.45
7,364.31
399,795.07 344,658.11 251,388.95 167,659.40 125,228.87 106,811.95
371,737.36 177,054.18 119,895.78 97,507.79 74,091.00 40,677.03
29,377.55 22,717.23 15,025.21
9,803.67
8,025.13
5,661.98
417.64
270.37
249.55
170.35
130.67
113.1

Profit & Loss account


Mar '12
12 mths
Income
Interest Earned
Other Income
Total Income
Expenditure
Interest expended
Employee Cost
Selling and Admin Expenses
Depreciation
Miscellaneous Expenses
Preoperative Exp Capitalised
Operating Expenses
Provisions & Contingencies
Total Expenses
Net Profit for the Year
Extraordionary Items
Profit brought forward
Total
Preference Dividend
Equity Dividend
Corporate Dividend Tax
Per share data (annualised)
Earning Per Share (Rs)
Equity Dividend (%)
Book Value (Rs)
Appropriations
Transfer to Statutory Reserves
Transfer to Other Reserves
Proposed Dividend/Transfer to Govt
Balance c/f to Balance Sheet
Total

Mar '11
12 mths

Mar '10
12 mths

Mar '09
12 mths

33,542.65 25,974.05 25,706.93 31,092.55


7,908.10 7,108.91 7,292.43 8,117.76
41,450.75 33,082.96 32,999.36 39,210.31
22,808.50 16,957.15 17,592.57 22,725.93
3,515.28 2,816.93 1,925.79 1,971.70
2,888.22 3,785.13 6,056.48 5,977.72
524.53
562.44
619.5
678.6
5,248.97 3,809.93 2,780.03 4,098.22
0
0
0
0
8,843.63 8,594.16 10,221.99 10,795.14
3,333.37 2,380.27 1,159.81 1,931.10
34,985.50 27,931.58 28,974.37 35,452.17
6,465.26 5,151.38 4,024.98 3,758.13
-0.43
-2.17
-0.09
-0.58
5,018.18 3,464.38 2,809.65 2,436.32
11,483.01 8,613.59 6,834.54 6,193.87
0
0
0
0
1,902.04 1,612.58 1,337.86 1,224.58
220.35
202.28
164.04
151.21
56.09
165
524.01

44.73
140
478.31

36.1
120
463.01

33.76
110
444.94

2,306.07
0.32
2,122.39
7,054.23
11,483.01

1,780.29
0.26
1,814.86
5,018.18
8,613.59

1,867.22
1.04
1,501.90
3,464.38
6,834.54

2,008.42
0.01
1,375.79
2,809.65
6,193.87

Mar '08
12 mths

Mar '07

Mar '06

Mar '05

Mar '04

Mar '03

12 mths

12 mths

12 mths

12 mths

12 mths

30,788.34
8,878.85
39,667.19

22,994.29

13,784.50

9,409.89

8,894.04

9,368.06

6,962.95

5,036.62

3,416.23

3,064.92

3,158.72

29,957.24

18,821.12

12,826.12

11,958.96

12,526.78

23,484.24
2,078.90
5,834.95
578.35
3,533.03
0
10,855.18
1,170.05
35,509.47
4,157.73
0
998.27
5,156.00
0
1,227.70
149.67

16,358.50

9,597.45

6,570.89

7,015.25

7,944.00

1,616.75

1,082.29

737.41

546.06

403.02

4,900.67

2,360.72

1,040.49

921.58

1,745.52

37.37
110
417.64
1,342.31
0.01
1,377.37
2,436.32
5,156.01

544.78

623.79

590.36

539.44

505.94

3,426.32

2,616.78

1,881.77

1,299.53

722.11

8,849.86

5,274.23

3,177.78

2,955.35

3,332.67

1,638.66

1,409.35

1,072.25

351.26

43.92

26,847.02

16,281.03

10,820.92

10,321.86

11,320.59

3,110.22

2,540.07

2,005.20

1,637.11

1,206.18

293.44

188.22

53.09

5.05

19.56

3,403.66

2,728.29

2,058.29

1,642.16

1,225.74

901.17

759.33

632.96

544.06

459.78

153.1

106.5

90.1

69.71

58.91

34.59

28.55

27.22

26.71

19.68

100

85

85

75

75

270.37

249.55

170.35

130.67

113.1

1,351.12

248.69

547

975.3

702

1,320.34

600.01

1,054.27

865.83

723.06

613.77

518.69

998.27

293.44

188.22

53.09

5.05

3,403.66

2,728.30

2,058.29

1,642.16

1,225.74

Mar '12
Investment Valuation Ratios
Face Value
Dividend Per Share
Operating Profit Per Share (Rs)
Net Operating Profit Per Share (Rs)
Free Reserves Per Share (Rs)
Bonus in Equity Capital
Profitability Ratios
Interest Spread
Adjusted Cash Margin(%)
Net Profit Margin
Return on Long Term Fund(%)
Return on Net Worth(%)
Adjusted Return on Net Worth(%)
Return on Assets Excluding Revaluations
Return on Assets Including Revaluations
Management Efficiency Ratios
Interest Income / Total Funds
Net Interest Income / Total Funds
Non Interest Income / Total Funds
Interest Expended / Total Funds
Operating Expense / Total Funds
Profit Before Provisions / Total Funds
Net Profit / Total Funds
Loans Turnover
Total Income / Capital Employed(%)
Interest Expended / Capital Employed(%)
Total Assets Turnover Ratios
Asset Turnover Ratio
Profit And Loss Account Ratios
Interest Expended / Interest Earned
Other Income / Total Income
Operating Expense / Total Income
Selling Distribution Cost Composition
Balance Sheet Ratios
Capital Adequacy Ratio
Advances / Loans Funds(%)
Debt Coverage Ratios
Credit Deposit Ratio
Investment Deposit Ratio
Cash Deposit Ratio
Total Debt to Owners Fund
Financial Charges Coverage Ratio
Financial Charges Coverage Ratio Post Tax
Leverage Ratios

Mar '11

Mar '10

Mar '09

Mar '08

10
16.5
76.15
346.19
376.49
--

10
14
64.08
281.04
358.12
--

10
12
49.8
293.74
356.94
--

10
11
48.58
343.59
351.04
--

10
11
51.29
354.71
346.21
--

4.44
17.45
16.14
52.09
10.7
10.7
524.01
524.01

4.01
17.52
15.91
42.97
9.35
9.27
478.31
478.31

5.66
13.64
12.17
44.72
7.79
7.53
463.01
463.01

3.66
11.45
9.74
56.72
7.58
7.55
444.94
444.94

3.51
11.81
10.51
62.34
8.94
8.8
417.64
417.64

8.41
4.01
4.41
2.09
1.77
1.34
0.17
8.41
4.41
0.08
3.55

8.82
4.08
0.08
4.74
2.59
1.41
1.08
0.17
8.9
4.74
0.09
4.6

9.82
3.99
0.08
5.83
2.6
1.3
0.96
0.18
9.9
5.83
0.1
5.14

10.6
4.29
0.02
6.31
2.76
1.4
1.12
0.2
10.62
6.31
0.11
5.61

68
0.37
20.77
0.73

65.29
0.02
24.81
0.94

68.44
0.92
29.05
0.72

73.09
0.86
26.22
1.74

76.28
0.17
26
4.43

18.52
65.3

19.54
64.96

19.41
58.57

15.53
69.86

13.97
72.67

92.23
61.16
8.6
4.23
0.39
1.31

87.81
59.77
11.32
4.1
0.44
1.34

90.04
53.28
10.72
3.91
0.33
1.26

91.44
46.35
10.14
4.42
0.25
1.2

84.99
42.68
10.12
5.27
1.25
1.2

9.07
3.89
0.03 -5.18
1.89
1.91
1.47
0.18
9.1
5.18
0.09
4.23

Current Ratio
Quick Ratio
Cash Flow Indicator Ratios
Dividend Payout Ratio Net Profit
Dividend Payout Ratio Cash Profit
Earning Retention Ratio
Cash Earning Retention Ratio
AdjustedCash Flow Times

0.13
16.71

0.11
15.86

0.14
14.7

0.13
5.94

0.11
6.42

32.82
30.36
67.19
69.65
36.54

35.23
31.76
64.49
68.01
39.77

37.31
32.33
61.4
66.7
44.79

36.6
31
63.23
68.87
49.41

33.12
29.08
66.35
70.51
52.34

Mar '12
Earnings Per Share
Book Value

56.09
524.01

Mar '11
44.73
478.31

Mar '10
36.1
463.01

Mar '09
33.76
444.94

Mar '08
37.37
417.64

Mar '07

Mar '06

Mar '05

Mar '04

Mar '03

10
10
42.19
316.45
199.52
--

10
8.5
36.75
196.87
193.24
--

10
8.5
36.37
160.69
110.7
--

10
7.5
34.06
187.9
66.38
--

10
7.5
14.4
190.1
70.11
--

3.43
12.3
10.81
82.46
13.17
12.31
270.37
270.37

2.67
17.55
14.12
56.24
14.33
11.4
1.01
1.01

3.56
21.14
16.32
70.54
18.86
15.99
1.2
1.2

3.76
18.2
13.67
106.69
20.93
20.47
1.31
1.31

2.77
14.05
9.86
119.87
17.38
17.49
1.13
1.13

9.55
4.06
0.1
5.49
2.79
1.19
1.04
0.17
9.65
5.49
0.1
4.52

8.36
3.78
0.22
4.58
2.22
1.49
1.21
0.15
8.58
4.58
0.08
2.94

8.08
3.6
0.31
4.49
1.77
1.73
1.37
0.16
8.39
4.49
0.08
2.14

9.93
3.88
0.39
6.05
2.08
1.72
1.41
0.2
10.32
6.05
0.1
2.26

11.05
3.52
0.54
7.53
2.68
0.9
1.14
0.24
11.59
7.53
0.11
2.42

71.14
1.07
28.87
6.12

69.62
2.59
25.86
4.8

69.83
3.65
21.06
5.08

78.88
3.78
20.18
0.59

84.8
4.67
23.12
0.49

11.69
77.72

13.35
84.89

11.78
76.65

10.4
67.02

11.1
64.08

83.83
41.15
6.99
9.5
1.25
1.22

87.59
46.07
5.77
7.45
1.39
1.33

89.17
55.52
7
7.98
1.48
1.4

97.38
67.26
8.85
8.55
1.36
1.31

122.96
88.91
8.3
7
1.18
1.22

0.09
6.04

0.08
6.64

0.09
4.98

0.11
4.18

0.13
3.84

33.89
28.84
64.8
70.22
65.12

34.08
27.36
65.82
72.58
52.3

36.05
27.85
63.98
72.17
38.43

37.49
28.19
62.59
71.85
31.25

43
30.29
57.23
69.82
28.03

Mar '07
34.59
270.37

Mar '06
28.55
249.55

Mar '05
27.22
170.35

Mar '04
26.71
130.67

Mar '03
19.68
113.1

Date
Interest Rate(%)
###################
11.42
Sunday, May 31, 1992
11.42
Tuesday, June 30, 1992
11.42
Friday, July 31, 1992
11.27
###################
11.17
###################
11.17
###################
11.3
###################
11.26
###################
11.22
###################
9
###################
9.84
###################
10.47
Friday, April 30, 1993
9.5
Monday, May 31, 1993
9.63
###################
9.92
Saturday, July 31, 1993
9.75
###################
9.17
###################
8.37
###################
8.08
###################
8.16
###################
7.83
###################
7.79
###################
8.25
###################
7.08
###################
7.25
Tuesday, May 31, 1994
7.21
###################
7.75
Sunday, July 31, 1994
8.58
###################
8
###################
8.08
###################
8.33
###################
8.25
###################
9
###################
10.26
###################
11.1
Friday, March 31, 1995
11.4
Sunday, April 30, 1995
11.4
###################
11.95
Friday, June 30, 1995
12.33
Monday, July 31, 1995
12.71
###################
12.58
###################
12.54
###################
12.67
###################
12.97
###################
12.97
###################
12.97

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Tuesday, April 30, 1996
Friday, May 31, 1996
Sunday, June 30, 1996
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Monday, June 30, 1997
Thursday, July 31, 1997
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Sunday, May 31, 1998
Tuesday, June 30, 1998
Friday, July 31, 1998
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Friday, April 30, 1999
Monday, May 31, 1999
###################
Saturday, July 31, 1999
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###################
###################
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12.97
12.97
12.44
12.37
12.41
9.2
8.46
9.96
8.83
6.91
8.04
8.08
7.5
7.76
5.72
6.22
6.75
6.71
6.59
6.59
6.22
6.22
7.21
7.21
7.33
7.33
7.33
7.17
7.33
7.33
7.5
8
9.96
9.33
9.37
9.5
9.37
8.75
8.41
8.37
8.79
8.96
8.99
9.46
9.46
9.33
8.5

###################
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Friday, March 31, 2000
Sunday, April 30, 2000
###################
Friday, June 30, 2000
Monday, July 31, 2000
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Monday, April 30, 2001
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Tuesday, July 31, 2001
Friday, August 31, 2001
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Tuesday, April 30, 2002
Friday, May 31, 2002
Sunday, June 30, 2002
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###################
Monday, June 30, 2003
Thursday, July 31, 2003
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8.87
8.25
9.12
8
7.91
8.91
8.5
8.58
10.1
9.5
8.96
8.87
8.75
8.33
7.96
7.71
7.37
7.08
7.04
6.83
6.83
6.63
6.71
6.5
6.59
6.26
6.05
5.8
6.13
6.13
5.72
5.76
5.68
5.72
5.1
5.19
5.39
5.56
5.6
4.94
4.41
4.9
4.78
4.74
4.57
4.41
4.24

###################
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###################
Friday, April 30, 2004
Monday, May 31, 2004
###################
Saturday, July 31, 2004
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Tuesday, May 31, 2005
###################
Sunday, July 31, 2005
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Friday, March 31, 2006
Sunday, April 30, 2006
###################
Friday, June 30, 2006
Monday, July 31, 2006
###################
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###################
###################
###################
###################
###################
###################
Monday, April 30, 2007
###################
###################
Tuesday, July 31, 2007
Friday, August 31, 2007
###################
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4.16
4.24
4.33
4.2
4.37
4.37
4.41
4.45
4.49
4.2
5.02
5.27
5.15
5.23
4.82
5.19
5.1
5.15
5.19
5.35
5.15
5.1
5.39
5.68
5.64
5.93
6.55
6.09
5.39
5.64
5.72
6.38
6.34
6.42
6.59
6.63
6.63
7.12
7.5
7.46
7.33
7.58
7.12
4.45
6.46
6.96
6.96

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Monday, June 30, 2008
Thursday, July 31, 2008
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Sunday, May 31, 2009
Tuesday, June 30, 2009
Friday, July 31, 2009
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Friday, April 30, 2010
Monday, May 31, 2010
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Saturday, July 31, 2010
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Tuesday, May 31, 2011
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Sunday, July 31, 2011
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7.29
7.33
7
7.25
7.21
6.92
7.29
7.54
8.79
9.04
8.54
7.17
7.12
5.02
4.57
4.37
4.57
3.31
3.14
3.31
3.1
3.27
3.39
3.14
3.27
3.31
3.67
4.08
4.2
3.96
4.12
5.19
5.28
5.98
6.03
6.27
6.77
6.94
7.1
7.14
7.14
7.14
7.89
8.19
8.1
8.31
8.39

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Monday, April 30, 2012
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8.44
8.65
8.39
8.52
8.81
8.98
8.31
8.39

SUMMARY OUTPUT
Regression Statistics
Multiple R 0.824948
R Square
0.680539
Adjusted R Square
0.676736
Standard Error
0.946031
Observations
86
ANOVA
df
Regression
Residual
Total

SS
MS
F
Significance F
1 160.1494 160.1494 178.9428
1.6E-22
84 75.17791 0.894975
85 235.3273

Coefficients
Standard Error t Stat
P-value Lower 95% Upper 95%Lower 95.0%
Upper 95.0%
Intercept 0.002735 0.102773 0.026616 0.978829 -0.20164 0.20711 -0.20164 0.20711
X Variable 1 1.409855 0.105394 13.37695
1.6E-22 1.200267 1.619444 1.200267 1.619444

Upper 95.0%

ICICI Bank
Month
Apr-05
May-05
Jun-05
Jul-05
Aug-05
Sep-05
Oct-05
Nov-05
Dec-05
Jan-06
Feb-06
Mar-06
Apr-06
May-06
Jun-06
Jul-06
Aug-06
Sep-06
Oct-06
Nov-06
Dec-06
Jan-07
Feb-07
Mar-07
Apr-07
May-07
Jun-07
Jul-07
Aug-07
Sep-07
Oct-07
Nov-07
Dec-07
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
Jul-08
Aug-08
Sep-08

Stock Price(ICICI)
359.95
392.05
425.75
534.45
481.8
601.7
498.6
538.05
585.05
609.25
615.25
589.05
591.75
537.5
487.9
553.85
597.45
699.6
777.15
872.45
891.5
941.1
829.5
853.35
865.85
919.15
955.45
927.45
888.4
1062.4
1254.05
1178.4
1238.7
1147
1088.5
769.4
879.6
788.6
630.2
637.3
671.9
535.55

NSE
Monthly Rate
of Return
Stock
8.918%
8.596%
25.531%
-9.851%
24.886%
-17.135%
7.912%
8.735%
4.136%
0.985%
-4.258%
0.458%
-9.168%
-9.228%
13.517%
7.872%
17.098%
11.085%
12.263%
2.184%
5.564%
-11.858%
2.875%
1.465%
6.156%
3.949%
-2.931%
-4.210%
19.586%
18.039%
-6.032%
5.117%
-7.403%
-5.100%
-29.316%
14.323%
-10.346%
-20.086%
1.127%
5.429%
-20.293%

Annualized
Return(RE)

107.015%
103.150%
306.377%
-118.215%
298.630%
-205.617%
94.946%
104.823%
49.637%
11.818%
-51.101%
5.500%
-110.013%
-110.735%
162.205%
94.466%
205.172%
133.019%
147.153%
26.202%
66.764%
-142.302%
34.503%
17.578%
73.870%
47.392%
-35.167%
-50.526%
235.029%
216.472%
-72.389%
61.405%
-88.835%
-61.203%
-351.787%
171.874%
-124.147%
-241.035%
13.520%
65.150%
-243.518%

Nifty 50
1902.5
2087.55
2220.6
2312.3
2384.65
2601.4
2370.95
2652.25
2836.55
3001.1
3074.7
3402.55
3557.6
3071.05
3128.2
3143.2
3413.9
3588.4
3744.1
3954.5
3966.4
4082.7
3745.3
3821.55
4087.9
4295.8
4318.3
4528.85
4464
5021.35
5900.65
5762.75
6138.6
5137.45
5223.5
4734.5
5165.9
4870.1
4040.55
4332.95
4360
3921.2

Monthly Rate
of Return
Market
9.727%
6.374%
4.130%
3.129%
9.089%
-8.859%
11.864%
6.949%
5.801%
2.452%
10.663%
4.557%
-13.676%
1.861%
0.480%
8.612%
5.111%
4.339%
5.620%
0.301%
2.932%
-8.264%
2.036%
6.970%
5.086%
0.524%
4.876%
-1.432%
12.485%
17.511%
-2.337%
6.522%
-16.309%
1.675%
-9.362%
9.112%
-5.726%
-17.034%
7.237%
0.624%
-10.064%

Oct-08
Nov-08
Dec-08
Jan-09
Feb-09
Mar-09
Apr-09
May-09
Jun-09
Jul-09
Aug-09
Sep-09
Oct-09
Nov-09
Dec-09
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10
Jan-11
Feb-11
Mar-11
Apr-11
May-11
Jun-11
Jul-11
Aug-11
Sep-11
Oct-11
Nov-11
Dec-11
Jan-12
Feb-12
Mar-12
Jan-12
Feb-12
Mar-12

398.75
351.65
448.1
416.25
327.55
332.8
479.2
740.15
722.2
758.5
751.15
907.6
790.8
867.85
877
830.35
872.15
952.5
951.95
868.3
861.7
904.9
977.7
1112.95
1163
1142.1
1145.1
1021.6
970.85
1116.2
1114.45
1086.1
1094.65
1036.75
873.25
875.4
931.15
712.45
684.65
902.15
906.3
890.2
902.15
906.3
890.2

-25.544%
-11.812%
27.428%
-7.108%
-21.309%
1.603%
43.990%
54.455%
-2.425%
5.026%
-0.969%
20.828%
-12.869%
9.743%
1.054%
-5.319%
5.034%
9.213%
-0.058%
-8.787%
-0.760%
5.013%
8.045%
13.833%
4.497%
-1.797%
0.263%
-10.785%
-4.968%
14.971%
-0.157%
-2.544%
0.787%
-5.289%
-15.770%
0.246%
6.369%
-23.487%
-3.902%
31.768%
0.460%
-1.776%
1.342%
0.460%
-1.776%

-306.526%
-141.743%
329.134%
-85.293%
-255.712%
19.234%
527.885%
653.464%
-29.102%
60.316%
-11.628%
249.937%
-154.429%
116.920%
12.652%
-63.831%
60.408%
110.554%
-0.693%
-105.447%
-9.121%
60.160%
96.541%
166.002%
53.965%
-21.565%
3.152%
-129.421%
-59.612%
179.657%
-1.881%
-30.526%
9.447%
-63.472%
-189.245%
2.954%
76.422%
-281.845%
-46.824%
381.217%
5.520%
-21.317%
16.109%
5.520%
-21.317%

2885.6
2755.1
2959.15
2874.8
2763.65
3020.95
3473.95
4448.95
4291.1
4636.45
4662.1
5083.95
4711.7
5032.7
5201.05
4882.05
4922.3
5249.1
5278
5086.3
5312.5
5367.6
5402.4
6029.95
6017.7
5862.7
6134.5
5505.9
5333.25
5833.75
5749.5
5560.15
5647.4
5482
5001
4943.25
5326.6
4832.05
4624.3
5199.25
5385.2
5295.55
5199.25
5385.2
5295.55

-26.410%
-4.522%
7.406%
-2.850%
-3.866%
9.310%
14.995%
28.066%
-3.548%
8.048%
0.553%
9.048%
-7.322%
6.813%
3.345%
-6.133%
0.824%
6.639%
0.551%
-3.632%
4.447%
1.037%
0.648%
11.616%
-0.203%
-2.576%
4.636%
-10.247%
-3.136%
9.385%
-1.444%
-3.293%
1.569%
-2.929%
-8.774%
-1.155%
7.755%
-9.285%
-4.299%
12.433%
3.576%
-1.665%
-1.819%
3.576%
-1.665%

Annualized
Return(RM)

116.720%
76.482%
49.554%
37.547%
109.073%
-106.304%
142.373%
83.386%
69.613%
29.429%
127.954%
54.683%
-164.116%
22.331%
5.754%
103.347%
61.337%
52.068%
67.434%
3.611%
35.186%
-99.170%
24.431%
83.636%
61.029%
6.285%
58.509%
-17.183%
149.825%
210.135%
-28.044%
78.265%
-195.709%
20.099%
-112.338%
109.342%
-68.712%
-204.402%
86.840%
7.491%
-120.771%

Risk
FreeRate(
%) RF
5.204%
5.170%
5.250%
5.410%
5.229%
5.282%
5.474%
5.740%
5.861%
6.289%
6.610%
6.373%
5.572%
5.680%
6.022%
6.400%
6.380%
6.504%
6.610%
6.630%
6.895%
7.244%
7.785%
7.706%
7.614%
7.620%
7.428%
5.240%
6.763%
7.064%
7.040%
7.394%
7.415%
7.084%
7.335%
7.290%
7.166%
7.375%
8.104%
8.934%
9.184%
8.767%

Stock excess(RE-RF)

Market Excess(RM-RF)

Cost of Equity

101.845%
97.900%
300.967%
-123.444%
293.348%
-211.092%
89.206%
98.962%
43.348%
5.208%
-57.475%
-0.072%
-115.693%
-116.757%
155.805%
88.086%
198.668%
126.409%
140.523%
19.307%
59.520%
-150.086%
26.797%
9.963%
66.250%
39.963%
-40.407%
-57.289%
227.965%
209.433%
-79.784%
53.991%
-95.920%
-68.538%
-359.076%
164.709%
-131.522%
-249.139%
4.586%
55.966%
-252.285%

111.550%
71.232%
44.145%
32.318%
103.791%
-111.779%
136.634%
77.525%
63.324%
22.819%
121.581%
49.111%
-169.796%
16.309%
-0.646%
96.967%
54.833%
45.458%
60.804%
-3.284%
27.942%
-106.954%
16.725%
76.022%
53.409%
-1.143%
53.269%
-23.946%
142.761%
203.095%
-35.439%
70.850%
-202.794%
12.765%
-119.628%
102.176%
-76.087%
-212.506%
77.906%
-1.692%
-129.538%

162.440%
105.677%
67.647%
50.793%
151.612%
-152.117%
198.373%
115.160%
95.566%
38.782%
177.784%
74.811%
-233.708%
29.015%
5.489%
143.089%
83.811%
70.699%
92.355%
2.265%
46.638%
-143.005%
31.285%
114.794%
82.919%
5.817%
80.342%
-26.998%
208.337%
293.374%
-42.569%
107.303%
-278.825%
25.331%
-161.369%
151.220%
-99.897%
-291.499%
118.770%
6.798%
-173.862%

-316.923%
-54.269%
88.875%
-34.206%
-46.396%
111.722%
179.943%
336.792%
-42.576%
96.577%
6.639%
108.582%
-87.865%
81.754%
40.141%
-73.601%
9.893%
79.670%
6.607%
-43.585%
53.367%
12.446%
7.780%
139.394%
-2.438%
-30.909%
55.633%
-122.964%
-37.629%
112.614%
-17.330%
-39.520%
18.830%
-35.145%
-105.290%
-13.857%
93.060%
-111.414%
-51.593%
149.199%
42.918%
-19.977%
-21.822%
42.918%
-19.977%

7.957%
7.244%
5.752%
4.674%
4.589%
4.751%
3.855%
3.224%
3.330%
3.184%
3.329%
3.390%
3.185%
3.270%
3.523%
3.831%
4.100%
4.304%
4.098%
4.548%
5.279%
5.505%
6.123%
6.109%
6.554%
6.810%
7.084%
7.165%
7.165%
7.224%
7.328%
8.014%
8.230%
8.244%
8.350%
8.415%
8.544%
8.774%
8.597%
8.624%
8.914%
9.020%
8.52%
8.81%
8.98%

-314.483%
-148.987%
323.382%
-89.967%
-260.301%
14.482%
524.030%
650.240%
-32.432%
57.132%
-14.958%
246.547%
-157.614%
113.650%
9.129%
-67.663%
56.308%
106.251%
-4.791%
-109.995%
-14.401%
54.655%
90.418%
159.892%
47.411%
-28.375%
-3.931%
-136.586%
-66.777%
172.433%
-9.209%
-38.540%
1.217%
-71.716%
-197.595%
-5.460%
67.878%
-290.619%
-55.422%
372.592%
-3.394%
-30.337%
7.589%
-3.290%
-30.297%

-324.880%
-61.513%
83.123%
-38.880%
-50.986%
106.970%
176.088%
333.569%
-45.906%
93.393%
3.309%
105.192%
-91.049%
78.484%
36.618%
-77.432%
5.793%
75.366%
2.509%
-48.132%
48.088%
6.941%
1.657%
133.284%
-8.991%
-37.719%
48.550%
-130.128%
-44.794%
105.390%
-24.658%
-47.534%
10.601%
-43.389%
-113.640%
-22.272%
84.516%
-120.189%
-60.190%
140.574%
34.003%
-28.997%
-30.342%
34.108%
-28.957%

-450.077%
-79.481%
122.944%
-50.141%
-67.293%
155.564%
252.114%
473.507%
-61.391%
134.854%
7.995%
151.695%
-125.182%
113.921%
55.150%
-105.336%
12.268%
110.559%
7.635%
-63.312%
73.076%
15.291%
8.459%
194.021%
-6.123%
-46.368%
75.531%
-176.297%
-55.988%
155.809%
-27.436%
-59.002%
23.175%
-52.929%
-151.866%
-22.986%
127.700%
-160.674%
-76.262%
206.814%
56.854%
-31.861%
-34.258%
56.897%
-31.845%

Cost Of Equity
Beta
1.409855264
Market Risk Premium
7.500%
Risk free Rate of return
6.46%
Cost Of Equity
17.033%

Dividend growth last 2 years CAGR


Cost of Equity
Year
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21

17.260%
17.033%
Dividend Growth
19.470
22.975
27.110
31.990
37.748
44.543
52.560
62.021
73.185
86.358
101.903
120.245
141.889
167.430
197.567
233.129
270.429
308.290
345.284
379.813
413.996

18.000%
18.000%
18.000%
18.000%
18.000%
18.000%
18.000%
18.000%
18.000%
18.000%
18.000%
18.000%
18.000%
18.000%
18.000%
16.000%
14.000%
12.000%
10.000%
9.000%

Today Stock Price

Terminal Cost of equity


Discount Factor
0.854
0.730
0.624
0.533
0.455
0.389
0.333
0.284
0.243
0.207
0.177
0.151
0.129
0.111
0.094
0.081
0.069
0.059
0.050
0.043

Present Value
Terminal Value
16.636
16.774
16.913
17.052
17.193
17.335
17.479
17.623
17.769
17.916
18.064
18.213
18.364
18.515
18.668
18.823
18.657
18.173
17.392
16.347
536.941
8348.833114
890.847
922.1

13.959%

Relative Valuation

Competitive Firms
SBI
PNB
Allahabad Bank
HDFC
AXIS
BoB

ICICI
Earnings
Book Value
As per PE
As per PB
Share Price

Price
1844.2
676.8
119.55
598.35
1016.45
626.95

Earnings Book Value


206.77
1251.05
148.15
777.39
39.25
192.92
23.33
126.94
107.45
550.47
123.98
666.29

P/E
8.919088843
4.568342896
3.045859873
25.64723532
9.45974872
5.05686401

Average P/E
Average P/B
60.26
524.01
891.4564
1403.575
922.1

P/B
Industry P/E
1.474122
6.38
0.870605
6.38
0.619687
6.38
4.713644
10.53
1.846513
10.66
0.940957
6.38

14.7935
2.678528

567.6492

ICICI beta

1.41

Market Capitalization
123676.92
22955.61
5992.81
138945.72
42125.55
25854.62
359551.23

Weightage
0.343975794
0.063845172
0.016667472
0.386442066
0.117161468
0.071908028

RoE
14
21.44
18.032
15.116
16.426
17.8

b
23.496
20.804
19.778
22.29
21.428
19.17

g
10.71056
16.97962
14.46563
11.74664
12.90624
14.38774

ICICI P/E

Beta
1.09
0.99
1.06
0.95
1.19
1.05

9.42932