IIFL Securities: Less than 10 PE

 1. https://youtu.be/RIQfGd2f60M?si=v03VR1G-M_lhjfX9

2. https://youtube.com/shorts/jXsFsOblX10?si=TnRHcqZo03yyFmAM

3. https://youtube.com/shorts/AQHrRbNnGkI?si=IQ5ytIsUQ4NjCfZ8

I love broking business because of the margins it makes.

The future of broking business also holds good potential

  • Q1 24  
    • Total Income stood at ₹411.0 Cr for Q1 FY24 (up 39% y-o-y) 
    • Total Comprehensive Income stood at ₹73.9 Cr for Q1 FY24 (up 75% y-o-y) 
    • Assets under management and custody stood at ₹1,47,090 Cr  
    • For the quarter, the average daily market turnover (including F&O) for the broking business was ₹2,30,816 Cr (BSE + NSE), up 82% y-o-y and 18% q-o-q 
    • Insurance premium stood at ₹44.3 Cr for the year ended June 30, 2023, up 30% y-o-y. Mutual Fund AUM was ₹7,945 Cr as at June 30, 2023, up 15% y-o-y and SIP AUM grew by 44% y-o-y to ₹2,101 Cr 
    • Q1FY24 had been a strong quarter for investment banking segment. Investment banking division completed 9 deals across capital markets, debt advisory and private equity. 
    • Return on Equity (%) :  22%
    • Customer centric goalbased offering targeting affluent segment (AUM INR 10 Lakh+) combined with innovative product wrappers and portfolios
  • FY 2023
    • 4.8 Lakhs NSE active customers   
    • Profit after tax 18% decline: 305 (220, 249 (23)   
    • Return on Equity (%) :     29% (22), 20% (23)  
    • Insurance premiums amounted to ₹2,788 Million for FY23, up by 48% y-o-y   
    • Leading investment bank in India:  Completed 29 transactions in FY23  
    • DPS: 3 (22), 3 (23)  
    • EPS:  7.0 (21), 10.1 ( 22), 8.2 (23)
    • 800+ institutional (domestic and foreign) clients.
    •  3 Million Client base
    • 10.4 Lakhs NSE active customers
  • Management:
    • Mr. R. Venkataraman, Managing Director, commented on the financial results: “Broking business has started gaining momentum and is expected to grow in the second half of financial year. It was a good quarter for our investment banking segment with 6 completed transactions. Our continuous endeavor to invest in technology will provide better outcome in the coming quarters.”

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