ICICI Securities Ltd: A Snapshot of Recent Financial Insights

In the bustling world of financial markets, ICICI Securities Ltd stands out as a technology-driven financial services powerhouse. Engaged in broking, margin trade finance, and advisory services, the company has been making waves with its insightful research reports. Here’s a closer look at some of the recent financial news and analyses provided by ICICI Securities.

Power Mech Projects: A Cautious Outlook

On August 20, 2025, ICICI Securities issued a research report on Power Mech Projects, advising investors to hold their positions with a target price of Rs 2986. The company’s Q1FY26 performance was described as muted, with revenue standing at Rs 10 billion, flat year-on-year, after adjusting for an exceptional revenue item of Rs 2.9 billion. Despite a 6% year-on-year increase in EBITDA to Rs 1.2 billion, the adjusted profit saw a decline of 18%.

Deepak Nitrite: Marginal Improvements

ICICI Securities also reviewed Deepak Nitrite, suggesting a hold with a target price of Rs 1950. The company’s Q1FY26 showed marginal improvement over the adjusted Q4FY25 EBITDA. However, the overall performance remained subdued due to a slower recovery in the agrochemical sector and only marginal volume growth in other areas.

KNR Constructions: A Sell Recommendation

For KNR Constructions, ICICI Securities recommended selling with a target price of Rs 163. The company reported a revenue of Rs 4.8 billion in Q1FY26, marking a five-year low. The subdued execution was attributed to a smaller executable order book, with the company failing to secure significant new orders.

Zydus Lifesciences: Hold with Caution

Zydus Lifesciences received a hold recommendation with a target price of Rs 910. While the company’s Q1FY26 performance exceeded expectations, revenue growth was modest at 5.9%, and both EBITDA and PAT saw declines. The flat year-on-year US business sales and emerging pricing pressures were noted as concerns.

Hindalco Industries: A Hold Position

ICICI Securities advised holding Hindalco Industries with a target price of Rs 720. Despite Novelis’ underperformance, Hindalco’s Q1FY26 operating performance exceeded consensus estimates by 6%. Consolidated EBITDA increased by 6% year-on-year, although Novelis’ EBITDA decreased by 15%.

Suzlon Energy: A Strong Buy

In contrast, Suzlon Energy received a strong buy recommendation with a target price of Rs 76. The company has been delivering robust performance, securing wind turbine orders worth approximately 3.6GW in FY25 and expanding its order book to over 5GW. Suzlon’s entry into PSU orders further bolstered its position.

Jyothy Labs: A Buy with Reservations

Jyothy Labs was marked as a buy with a target price of Rs 430. Despite subdued Q1FY26 performance with revenue and volume growth of 1.4% and 3.6% year-on-year, respectively, growth in the Fabric care and Dishwash categories partially offset competitive pressures.

Honasa Consumer: A Steady Start

Honasa Consumer was also recommended as a buy with a target price of Rs 400. The company began FY26 on a steady note, with revenue and UVG up 7.4% and 10.5% year-on-year, driven by over 20% growth in focus categories. However, early monsoon onset slightly impacted revenue growth.

ZF Commercial Vehicle Control Systems: A Hold with Caution

Lastly, ICICI Securities advised holding ZF Commercial Vehicle Control Systems with a target price of Rs 13600. The company’s Q1FY26 EBITDA margin was 13.5%, down from estimates, due to higher employment costs and other factors.

ICICI Securities Ltd continues to provide valuable insights into the financial markets, guiding investors through the complexities of the capital markets with its detailed research reports.