| Margins | NBM 24.7% vs 24.5%; benefits mostly reinvested in growth |
|---|---|
| Demand visibility | Bank channel reviving; agency +13% H1; protection base effect in H2 |
| Management confidence | Confident; momentum building; persistency recovery expected by year-end |
Growth
Individual APE +9% H1 (overall APE +11%, Q2 +13%). AUM ₹4.1trn (+14%). Pension AUM +28%. Retail protection +33%.
Outlook
Expects FY27 growth in line with industry. VNB growth in line with or slightly ahead of APE. ₹500 cr sub-debt.
Risks
Unit-linked renewal persistency weak (13M 83%, 61M 66%). Negative investment variance. Distribution commission consultation paper.
Last quarter's promises, checked
Delivered
- VNB growth in line with APE → VNB +12% vs APE +11% H1 (= BEAT)
- Margin expansion over FY26's 24.2% → NBM 24.7% H1 (= BEAT)
- HDFC Bank growth 10-12% → Q2 +12% (= BEAT)
Partly delivered
- ₹500cr sub-debt for ~4pt solvency upside → ₹500cr sub-debt, solvency 185%→180% (= PARTIAL)
Missed
- FY27 growth in line with industry (15-17% base case) → APE +11% H1 (= MISS)
- Agency trend sustained (Q1 +21%) → agency +13% H1 (= MISS)
- 13M persistency 84-85% → unit-linked 13M 83% (= MISS, metric differs)
Investor Presentation filed with NSE, NSE: HDFCLIFE. Summary written with AI assistance from the document.
HDFC Life Insurance Company Ltd: key numbers
- Share price
- ₹514.10
- Market cap
- ₹1,11,693 Cr
- Revenue (annual)
- ₹99,432 Cr
- Net profit (annual)
- ₹1,912 Cr
- P/E (TTM)
- 54.5×Sector 19.7×
- Promoter holding
- 50.53%-0.01% QoQ
- FII holding
- 18.75%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from HDFC Life Insurance Company Ltd
All →HDFC Life Insurance Company Annual General Meeting
HDFC Life seeks shareholder approval for an IFSC insurance office at GIFT City, a foreign branch. E-voting runs till November 26, 2026.
- Execution
- E-voting from October 28, 2026 to November 26, 2026
HDFC Life Insurance Company Other Announcement
HDFC Life filed its security cover certificate under Regulation 54(3) for the quarter ended September 30, 2026, confirming its NCDs are unsecured.
HDFC Life Insurance Company Q2 FY27 Results: Net Profit ₹521.6 Cr, Up 16.4% YoY
HDFC Life Insurance Company Ltd reported revenue from operations of ₹409.8 Cr (+13.2% YoY) and net profit of ₹521.6 Cr (+16.4% YoY) for Q2 FY27.
- Key figure
- Net profit ₹521.6 Cr · +16.4% YoY
HDFC Life Insurance Company Debt & Borrowing: ₹80.5 Cr
HDFC Life Insurance Company Limited successfully paid Rs. 80.50 Crore in annual interest for its unsecured non-convertible debentures. The payment was completed on October 9, 2026.
- Value
- ₹80.50 Cr
HDFC Life Insurance Company Debt & Borrowing: ₹3,099 Cr
HDFC Life Insurance disclosed its outstanding privately placed non-convertible debentures as of September 30, 2026, in compliance with SEBI circular requirements.
- Value
- ₹3,099 Cr
HDFC Life Insurance Company Board Meeting Date
HDFC Life scheduled a board meeting for October 15, 2026, to consider quarterly financial results and potential issuance of subordinated non-convertible debentures.