Financials ICICI Bank Limited

Equities

ICICIBANK

INE090A01021

Banks

Market Closed - NSE India S.E. Other stock markets 06:49:45 2025-12-08 am EST			5-day change	1st Jan Change
1,389.60 ^INR	-0.21%		+0.06%	+8.42%

06:38am	ICICI Bank to buy additional 2% of ICICI Prudential AMC for 21.4 billion rupees	RE
06:13am	Prudential PLC Shares Rise After India JV Files for IPO Prospectus	DJ

Projected Income Statement: ICICI Bank Limited

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	579,580	659,836	819,600	972,635	1,096,711	1,211,824	1,382,909	1,586,933
Change	-	13.85%	24.21%	18.67%	12.76%	10.5%	14.12%	14.75%
EBITDA	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
EBIT ¹	363,971	392,503	490,868	581,308	672,988	740,977	851,432	985,809
Change	-	7.84%	25.06%	18.42%	15.77%	10.1%	14.91%	15.78%
Interest Paid	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	201,827	306,089	424,212	544,878	626,162	681,580	773,836	886,402
Change	-	51.66%	38.59%	28.44%	14.92%	8.85%	13.54%	14.55%
Net income ¹	161,927	233,395	318,965	408,883	472,270	511,859	580,099	664,998
Change	-	44.14%	36.66%	28.19%	15.5%	8.38%	13.33%	14.64%
Announcement Date	4/24/21	4/23/22	4/22/23	4/27/24	4/19/25	-	-	-

¹INR in Million

Estimates

Fiscal Period: March	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	154,224	133,944	145,987	145,425	149,316	164,869	172,231	173,420	178,752	198,417	214,886	227,545	236,617	240,846	247,756	247,416	265,548	272,246	274,387	284,530	301,394	288,462	299,761	309,739
Change	-	-13.15%	8.99%	-0.39%	2.68%	10.42%	4.47%	0.69%	3.07%	11%	8.3%	5.89%	3.99%	1.79%	2.87%	-0.14%	7.33%	2.52%	0.79%	3.7%	5.93%	-4.29%	3.92%	3.33%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	107,764	82,611	88,198	85,398	88,944	99,147	101,482	102,929	103,089	116,803	132,712	138,264	141,391	142,293	147,236	150,388	160,248	167,232	168,866	176,642	187,458	176,131	180,761	188,956
Change	-	-23.34%	6.76%	-3.17%	4.15%	11.47%	2.36%	1.43%	0.15%	13.3%	13.62%	4.18%	2.26%	0.64%	3.47%	2.14%	6.56%	4.36%	0.98%	4.61%	6.12%	-6.04%	2.63%	4.53%
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	31,825	52,658	60,780	56,564	60,427	77,012	81,410	92,240	91,651	100,358	110,138	122,066	128,467	136,466	136,742	143,203	146,927	154,901	156,599	167,736	169,313	158,931	170,500	183,900
Change	-	65.46%	15.42%	-6.94%	6.83%	27.45%	5.71%	13.3%	-0.64%	9.5%	9.74%	10.83%	5.24%	6.23%	0.2%	4.72%	2.6%	5.43%	1.1%	7.11%	0.94%	-6.13%	7.28%	7.86%
Net income ¹	25,992	42,513	49,396	44,026	46,160	55,110	61,938	70,187	69,049	75,578	83,118	91,219	96,482	102,610	102,715	107,075	110,591	117,459	117,924	126,296	127,682	120,589	124,730	132,307
Change	-	63.57%	16.19%	-10.87%	4.85%	19.39%	12.39%	13.32%	-1.62%	9.46%	9.98%	9.75%	5.77%	6.35%	0.1%	4.24%	3.28%	6.21%	0.4%	7.1%	1.1%	-5.55%	3.43%	6.07%
Announcement Date	7/25/20	10/31/20	1/30/21	4/24/21	7/24/21	10/23/21	1/22/22	4/23/22	7/23/22	10/22/22	1/21/23	4/22/23	7/22/23	10/21/23	1/20/24	4/27/24	7/27/24	10/26/24	1/25/25	4/19/25	7/19/25	-	-	-

¹INR in Million

Estimates

Forecast Balance Sheet: ICICI Bank Limited

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Announcement Date	4/24/21	4/23/22	4/22/23	4/27/24	4/19/25	-	-	-

Estimates

Cash Flow Forecast: ICICI Bank Limited

Fiscal Period: March	2020	2021	2022	2023	2024	2025
CAPEX ¹	18,735	16,882	18,600	24,677	36,785	47,700
Change	-	-9.89%	10.17%	32.67%	49.07%	29.67%
Free Cash Flow (FCF) ¹	-	-	-	-	-	-
Change	-	-	-	-	-	-
Announcement Date	7/18/20	7/23/21	7/29/22	7/28/23	7/31/24	7/25/25

¹INR in Million

Estimates

Forecast Financial Ratios: ICICI Bank Limited

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	-	-	-	-	-	-	-	-	-
EBIT Margin (%)	-	62.8%	59.48%	59.89%	59.77%	61.36%	61.15%	61.57%	62.12%
EBT Margin (%)	-	34.82%	46.39%	51.76%	56.02%	57.09%	56.24%	55.96%	55.86%
Net margin (%)	-	27.94%	35.37%	38.92%	42.04%	43.06%	42.24%	41.95%	41.9%
FCF margin (%)	-	-	-	-	-	-	-	-	-
FCF / Net Income (%)	-	-	-	-	-	-	-	-	-
Profitability
ROA	-	1.39%	1.84%	2.16%	2.37%	2.41%	2.3%	2.31%	2.34%
ROE	-	12.27%	14.68%	17.18%	18.62%	17.9%	16.44%	16.16%	16.18%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	-	-	-	-	-	-	-	-	-
CAPEX / EBITDA (%)	-	-	-	-	-	-	-	-	-
CAPEX / FCF (%)	-	-	-	-	-	-	-	-	-
Items per share
Cash flow per share ¹	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-
Dividend per Share ¹	-	2	5	8	10	11	12.46	13.96	15.87
Change	-	-	150%	60%	25%	10%	13.26%	12.06%	13.64%
Book Value Per Share ¹	-	213.3	245.4	287.4	339.4	410.1	467.7	535.2	614.5
Change	-	-	15.06%	17.12%	18.11%	20.82%	14.04%	14.45%	14.8%
EPS ¹	-	23.67	32.98	44.89	57.33	65.89	71.83	81.14	93.13
Change	-	-	39.33%	36.11%	27.71%	14.93%	9.01%	12.97%	14.77%
Nbr of stocks (in thousands)	-	6,915,882	6,948,449	6,982,496	7,021,020	7,122,952	7,148,599	7,148,599	7,148,599
Announcement Date	-	4/24/21	4/23/22	4/22/23	4/27/24	4/19/25	-	-	-