ALFA Finder| Revenue growth | 6.75% YoY total premium growth. |
|---|---|
| Margins | VNB margin improved 750 bps YoY to 22.9%. |
| Demand visibility | Strong traction in non-par and individual protection segments. |
| Management confidence | High; targeting industry-average VNB margins soon. |
Growth
Total premium income grew 6.75% YoY to ₹127,250 crore. Individual new business premium rose 14.48%.
Outlook
Targeting mid-20s VNB margins by fiscal year-end; focusing on value-accreting non-par and protection lines.
Risks
GST input tax credit loss impacted expense ratios by 16 bps; urban agent count slightly declined.
Last quarter's promises, checked
Delivered
- Targeted VNB margin >20% → delivered 22.9% (= BEAT)
- Guided non-par APE share ~35% → delivered 32.49% (= BEAT)
- Commitment to sustain dividend → final dividend INR10 declared (= BEAT)
Partly delivered
- Targeted agent count growth → delivered 1.45M (down from 1.48M) (= MISS)
Missed
- Guided overall market share ~57% → delivered 56.6% (= MISS)
Earnings Call Transcript filed with BSE, NSE: LICI. Summary written with AI assistance from the document.
Life Insurance Corporation of India: key numbers
- Share price
- ₹404.00
- Market cap
- ₹5,11,060 Cr
- Revenue (annual)
- ₹9,77,772 Cr
- Net profit (annual)
- ₹57,453 Cr
- P/E (TTM)
- 8.2×Sector 20.8×
- Promoter holding
- 90.00%-6.50% QoQ
- FII holding
- 1.55%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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