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ICICI Bank Q2 FY27 Share Price & Earnings Call Analysis

₹1,398.00+0.82% today
Market cap
₹10.04L Cr
P/E
17.00
ROE
15.92%
PEG
1.03
Price to sales
4.86
Debt to equity
6.16
52W high / low
₹1,463 / ₹1,206
Sales growth (5Y)
16.97%
EBITDA margin
25.46%
Net profit margin
29.49%
Sales (last year)
₹2.06L Cr

ICICI Bank is the second-largest private sector bank in India offering a diversified portfolio of financial products and services to retail, SME and corporate customers. The Bank has an extensive network of branches, ATMs and other touch-points.The ICICI group has presence in businesses like life and general insurance, housing finance, primary dealership, etc, through its subsidiaries and associates.[1]

Guidance scorecard · Q2 FY27 call

What ICICI Bank Ltd's management guided
and where it ranks in Banks

Revenue10–20%MarginsFlatCapexPlannedFundraisingWhat management saidOrder bookWhat management said

RevenueQ4 FY26 call

10–20%
  • ICICI Bank finds it difficult to make precise growth predictions due to evolving geopolitical and economic uncertainties, including the West Asia conflict.
  • The bank aims for risk-calibrated growth, focusing on good quality customers across segments without specific segment targeting.
  • There is an expectation to grow the business by leveraging strong capital, liquidity, and funding with calibrated risk acceptance.
  • ICICI intends to sustain growth momentum seen in recent quarters but avoids committing to specific growth rates.
  • Retail segments like mortgages and business banking have shown growth, and opportunities exist in corporate loans, rural India, and gold loans.
  • The bank plans to prioritize profitable growth, balancing revenue increase ahead of expenses.

2 more points from ICICI Bank Ltd's call on revenue

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Full Q4 FY26 analysis

MarginsQ4 FY26 call

Flat

See what ICICI Bank Ltd said on margins — free account, 30 seconds.

Full Q4 FY26 analysis

CapexQ4 FY26 call

Planned

Ask what ICICI Bank Ltd said on capex →

Full Q4 FY26 analysis

FundraisingQ4 FY26 call

See what ICICI Bank Ltd said on fundraising — free account, 30 seconds.

Full Q4 FY26 analysis

Order bookQ4 FY26 call

Ask what ICICI Bank Ltd said on the order book →

Full Q4 FY26 analysis
Full Banks ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Banks
on management's own guidance

  1. AU Small FinanceGood growth
    2
  2. Canara BankGood growth
    1
  3. RBL BankGood growth
    3
See all potential multibaggersWhere does ICICI Bank Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Banks companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
1Canara Bank20–40%Flat₹1.07L Cr5.3
2AU Small Finance20–40%Flat₹74,341 Cr26.0
3RBL Bank20–40%Flat₹58,716 Cr49.8
420–40%Flat₹13,576 Cr9.4
520–40%Flat₹6,759 Cr8.6
620–40%Flat₹5,337 Cr8.0

Sign up free to see every company in the sector ranking and track ICICI Bank Ltd.

Pro shows every company guiding 40%+ revenue growth →Full Banks ranking

Financials of ICICI Bank Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

ICICI Bank Ltd

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
FIIs +43.65%44.77%45.48%46.22%45.70%45.83%46.77%45.56%43.87%34.48%33.79%34.68%
DIIs +46.00%45.10%44.45%44.17%44.95%44.77%43.91%45.06%46.74%39.94%42.32%41.77%
Government +0.27%0.28%0.28%0.27%0.27%0.27%0.27%0.27%0.27%0.22%0.22%0.22%
Public +10.09%9.84%9.79%9.34%9.08%9.12%9.06%9.11%9.13%25.36%23.68%23.32%
No. of Shareholders18,02,20717,85,57218,03,05118,12,90718,45,31119,02,50318,75,92420,20,38221,39,59520,82,90121,04,81020,58,795

Pros & Cons

ICICI Bank Ltd

Key positives and risks surfaced from the company insights section.

Pros
  • Stock is trading at 2.56 times its book value
  • Company has low interest coverage ratio.
  • Contingent liabilities of Rs.65,46,110 Cr.
  • Company might be capitalizing the interest cost
  • Earnings include an other income of Rs.1,23,056 Cr.
  • Working capital days have increased from 55.4 days to 108 days
Raw Insights
  • Stock is trading at 2.56 times its book value
  • Company has low interest coverage ratio.
  • Contingent liabilities of Rs.65,46,110 Cr.
  • Company might be capitalizing the interest cost
  • Earnings include an other income of Rs.1,23,056 Cr.
  • Working capital days have increased from 55.4 days to 108 days

Financials of ICICI Bank Ltd

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Revenue +38,93840,86542,60744,58246,32647,03748,38749,08048,18148,36449,59452,24155,992
Interest17,90819,40920,42421,12222,22522,63323,04723,09022,01721,87422,04723,06425,656
Expenses +24,56024,92930,60429,38732,22133,51037,58831,99135,06537,15441,82335,31839,390
Financing Profit-3,530-3,473-8,421-5,927-8,120-9,106-12,248-6,002-8,901-10,664-14,276-6,141-9,055
Financing Margin %-9%-8%-20%-13%-18%-19%-25%-12%-18%-22%-29%-12%-16%
Other Income +18,69018,61524,57522,68826,61727,58931,36125,49627,96628,41835,02027,44832,169
Depreciation0000000000000
Profit before tax15,16015,14216,15416,76118,49618,48319,11319,49419,06517,75420,74421,30723,115
Tax %25%26%26%26%25%25%25%26%25%24%25%24%25%
Net Profit +11,35111,51512,20012,46313,90613,84714,35414,45614,31813,48115,68116,27617,389
EPS in Rs15.5615.7616.6216.6218.3818.2518.9619.0018.7017.5320.6121.5222.75
Gross NPA %
Net NPA %

Financials of ICICI Bank Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue +54,96459,29460,94062,16271,98284,83689,16395,407121,067159,516186,331195,218206,190
Interest32,31833,99634,83634,26239,17844,66642,65941,16750,54374,10889,02889,02992,641
Expenses +38,76652,25263,84172,80683,77585,36191,30980,79887,86499,560130,078142,971153,685
Financing Profit-16,120-26,955-37,737-44,906-50,971-45,190-44,805-26,558-17,341-14,152-32,775-36,782-40,136
Financing Margin %-29%-45%-62%-72%-71%-53%-50%-28%-14%-9%-18%-19%-19%
Other Income +35,25242,10252,45856,80759,32564,95072,17462,12965,11276,522108,255116,900123,056
Depreciation7988439129229461,1711,3401,3301,5151,9352,6273,0610
Profit before tax18,33414,30413,80910,9787,40818,58926,02834,24146,25660,43472,85477,05782,920
Tax %29%24%18%17%23%40%22%25%26%26%25%25%
Net Profit +12,94210,92711,3409,1005,68911,22520,36426,53835,46146,08154,56957,93662,827
EPS in Rs19.2015.9215.9012.006.6014.7826.5836.1448.7463.0271.6575.7182.41
Dividend Payout %24%29%14%12%15%0%8%14%16%16%15%16%

Financials of ICICI Bank Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital1,1601,1631,1651,2861,2891,2951,3831,3901,3971,4051,4251,4321,436
Reserves83,54592,948103,467109,344112,964121,665156,204180,663213,101254,739312,481361,628386,226
Deposits478,042482,401530,204585,796681,317800,784959,9401,091,3661,210,8321,443,5801,641,6371,830,0202,091,539
Borrowing119,165189,054170,670229,402210,324213,852143,900161,603189,062207,428218,883220,264295,561
Other Liabilities +144,167153,190180,219198,453232,899239,696312,385317,616344,099456,911467,815501,153518,191
Total Liabilities826,079918,756985,7251,124,2811,238,7941,377,2921,573,8121,752,6371,958,4902,364,0632,642,2412,914,4983,292,953
Fixed Assets +5,8718,7139,3389,4659,66010,40910,80910,70711,07015,71424,27227,97017,540
CWIP0000000000000
Investments274,311286,044304,373372,208398,201443,473536,579567,098639,552827,163886,377870,720948,728
Other Assets +545,897623,999672,013742,608830,933923,4111,026,4241,174,8331,307,8681,521,1861,731,5932,015,8082,326,686
Total Assets826,079918,756985,7251,124,2811,238,7941,377,2921,573,8121,752,6371,958,4902,364,0632,642,2412,914,4983,292,953

Financials of ICICI Bank Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +-12,27323,64552,63619,38348,67179,565138,01558,111-3,771157,284122,80567,325
Cash from Investing Activity +-13,175-12,060-1,711-50,551-30,282-42,095-63,631-40,007-67,689-144,737-77,140-11,708
Cash from Financing Activity +24,8275,814-35,47039,676-19,9972,992-54,66717,45124,79113,7655,589-4,661
Net Cash Flow-62117,39915,4558,508-1,60840,46219,71835,555-46,66926,31251,25550,957
Free Cash Flow-13,48122,86751,33418,36747,57077,717136,33956,369-5,951153,676118,10063,778

Financials of ICICI Bank Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %15%11%10%7%4%8%13%15%17%19%18%16%

Guidance history

How ICICI Bank Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q4 FY26 call →10–20%FlatPlanned——
Q3 FY26 call →10–20%FlatPlannedNone planned—
Q2 FY26 call →10–20%FlatPlannedNone planned—

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

65out of 100

Momentum score · price trend

65 out of 100 — Steady

Over the past year its share price has moved roughly in the middle of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months+2.6%63%
Last 6 months+10.7%69%
Last 3 months−2.6%62%
How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For ICICI Bank Ltd: 0.4 × 63 + 0.4 × 69 + 0.2 × 62 = 65.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What ICICI Bank Ltd's management said in earlier quarters

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