ALFA Finder| Margins | VNB margin expanded to 26.7% from 24.7% in FY2026. |
|---|---|
| Demand visibility | Strong demand for protection products despite macro volatility. |
| Management confidence | High on protection segment and absolute VNB growth targets. |
Growth
VNB grew 24.9% YoY to ₹5.71B; PAT increased 27.8% YoY to ₹3.86B. Sum assured grew 31.8%.
Outlook
Management refused to give numerical guidance, focusing on sustainable VNB growth and absolute VNB expansion.
Risks
Volatile equity markets, inflationary concerns, and unavailability of input tax credit (ITC) impacting cost-to-premium ratios.
Last quarter's promises, checked
Delivered
- Focus on absolute VNB growth → VNB grew 24.9% YoY to ₹5.71B (= BEAT)
- Maintain strong solvency ratio → Delivered 227.3% (= BEAT)
- Focus on retail protection growth → Delivered 60.4% YoY growth (= BEAT)
Partly delivered
- Improve agency channel performance → Channel remained 'tepid' with sequential improvement but high base effects (= PARTIAL)
Missed
- Targeting 13-14% RoEV range → Delivered 11.9% (= MISS)
Earnings Call Transcript filed with BSE, NSE: ICICIPRULI. Summary written with AI assistance from the document.
ICICI Prudential Life Insurance Company Ltd: key numbers
- Share price
- ₹466.95
- Market cap
- ₹67,764 Cr
- Revenue (annual)
- ₹63,467 Cr
- Net profit (annual)
- ₹1,600 Cr
- P/E (TTM)
- 38.5×Sector 20.8×
- Promoter holding
- 74.70%+1.97% QoQ
- FII holding
- 9.26%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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