HDFC Life Insurance Company Ltd.
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ABOUT
AI Sector View
AI GENERATEDFinancial Services
Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.
PROS
- Company has a consistent dividend-paying track record
CONS
- Company is loss-making at the operating / net level
- Operating margins have contracted to -26.4% from 2.7%
- Effective tax rate is unusually low at 4.8% - earnings may be flattered
- Company has delivered a poor profit growth of 7.0% over past five years
- Expensive relative to growth - PEG of 4.9
- Company's return on assets is weak at 0.5%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| LICI | 403.70 | 8.50 | 510680.31 | 2.48 | 135866.90 | 23.98 | 1276231.60 | 6.69 | 37.75 | -76.97 |
| SBILIFE | 1695.00 | 65.39 | 170067.75 | 0.16 | 7249.30 | 21.97 | 200782.10 | 16.88 | 14.15 | -127.01 |
| HDFCLIFE | 530.00 | 58.30 | 115147.22 | 0.40 | 611.19 | 11.46 | 16727.63 | 15.05 | 10.01 | -98.79 |
| ICICIGI | 1459.00 | 30.02 | 72892.05 | 0.93 | 4031.70 | 439.66 | 59500.40 | 1058.48 | 23.62 | -10.35 |
| ICICIPRULI | 471.25 | 40.60 | 68388.76 | 0.35 | 623.91 | 61.94 | 19180.08 | 17.17 | 11.82 | 79.46 |
| GICRE | 349.55 | 6.91 | 61325.05 | 3.79 | 1743.67 | -31.10 | 11097.77 | -1.56 | 22.43 | -10.45 |
| STARHEALTH | 562.20 | 39.20 | 33092.42 | 0.00 | 549.73 | 109.40 | 4917.20 | 24.86 | 9.70 | 2.89 |
| NIACL | 198.15 | 42.45 | 32655.12 | 0.76 | -2391.50 | -695.39 | 97472.80 | 934.31 | 5.44 | -24.14 |
| GODIGIT | 255.85 | 48.07 | 23669.82 | 0.00 | 86.39 | -37.55 | 2006.96 | 7.61 | 13.56 | -15.23 |
| NIVABUPA | 79.97 | 41.09 | 14791.61 | 0.00 | 137.80 | 250.70 | 2273.72 | 86.37 | 3.75 | -0.22 |
| CANHLIFE | 151.95 | 109.92 | 14435.25 | 0.26 | 281.40 | 1101.54 | 20475.20 | 1138.35 | 8.35 | -112.52 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 11,508 | 14,797 | 15,273 | 20,534 | 12,548 | 16,614 | 16,832 | 23,843 | 14,539 | 18,871 | 18,351 | 25,998 | 16,728 | |
| 23,045 | 23,556 | 26,662 | 27,766 | 26,623 | 28,807 | 16,852 | 23,814 | 29,024 | 20,336 | 29,157 | 19,782 | 33,253 | |
| Operating Profit | -11,538 | -8,759 | -11,389 | -7,232 | -14,074 | -12,193 | -20 | 29 | -14,484 | -1,465 | -10,805 | 6,217 | -16,525 |
| OPM % | -100.26% | -59.19% | -74.57% | -35.22% | -112.16% | -73.39% | -0.12% | 0.12% | -99.62% | -7.76% | -58.88% | 23.91% | -98.79% |
| 11,977 | 8,479 | 11,756 | 7,682 | 14,475 | 12,163 | 439 | 471 | 15,088 | 1,936 | 11,251 | -5,680 | 17,202 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before Tax | 440 | -279 | 367 | 450 | 401 | -30 | 419 | 500 | 604 | 471 | 445 | 537 | 677 |
| Tax % | 5.26% | 235.42% | -0.14% | 8.46% | -19.51% | 1540.99% | -0.62% | 5.01% | 9.18% | 4.92% | 6.07% | 7.30% | 9.74% |
| Net Profit | 0 | 378 | 368 | 412 | 479 | 435 | 421 | 475 | 548 | 448 | 418 | 497 | 611 |
| 1.94 | 1.76 | 1.71 | 1.91 | 2.23 | 2.02 | 1.96 | 2.21 | 2.55 | 2.08 | 1.94 | 2.31 | 2.83 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 79,949 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,02,527 | |
| Operating Profit | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -22,578 |
| OPM % | — | — | — | — | — | — | — | — | — | — | -28.24% |
| 1 | 23 | 40 | 41 | 3 | 19 | 93 | 59 | 71 | 102 | 24,709 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before Tax | 909 | 1,125 | 1,291 | 1,314 | 1,354 | 1,303 | 1,282 | 1,570 | 1,878 | 1,962 | 2,130 |
| Tax % | 2.42% | 1.58% | 1.01% | 1.25% | -0.49% | -1.86% | -6.71% | -0.28% | 3.57% | 2.55% | 7.29% |
| Net Profit | 887 | 1,107 | 1,278 | 1,297 | 1,361 | 1,327 | 1,368 | 1,574 | 1,811 | 1,912 | 1,975 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 7.32 | 8.41 | 8.86 | — |
| Dividend Payout % | — | — | — | 0.00% | 30.00% | 27.07% | 29.85% | 0.00% | 24.97% | 23.70% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 9%
- 5 Years:
- 7%
- 3 Years:
- 12%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- -6%
- 3 Years:
- -7%
- 1 Year:
- -32%
RETURN ON EQUITY
- 10 Years:
- 17%
- 5 Years:
- 11%
- 3 Years:
- 12%
- Last Year:
- 12%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 1,998 | 2,012 | 2,017 | 2,019 | 2,021 | 2,113 | 2,149 | 2,151 | 2,153 | 2,158 |
| 1,796 | 2,692 | 3,628 | 4,974 | 6,409 | 13,413 | 10,821 | 12,065 | 13,555 | 15,291 | |
| 0 | 0 | 0 | 0 | 600 | 600 | 950 | 950 | 2,950 | 3,099 | |
| 87,480 | 1,01,128 | 1,19,252 | 1,20,241 | 1,64,091 | 2,07,661 | 2,25,780 | 2,78,679 | 3,21,048 | 3,58,797 | |
| Total Liabilities | 91,274 | 1,05,832 | 1,24,897 | 1,27,234 | 1,73,121 | 2,23,787 | 2,39,701 | 2,93,845 | 3,39,706 | 3,79,345 |
| 337 | 336 | 324 | 322 | 327 | 5,964 | 352 | 393 | 499 | 607 | |
| Capital Work in Progress | 16 | 5 | 10 | 8 | 14 | 20 | 31 | 28 | 109 | 139 |
| Cash & Bank | 797 | 1,110 | 1,244 | 691 | 1,099 | 1,375 | 1,169 | 1,559 | 1,821 | 1,990 |
| 90,124 | 1,04,380 | 1,23,319 | 1,26,212 | 1,71,680 | 2,16,427 | 2,38,150 | 2,91,866 | 3,37,277 | 3,76,608 | |
| Total Assets | 91,274 | 1,05,832 | 1,24,897 | 1,27,234 | 1,73,121 | 2,23,787 | 2,39,701 | 2,93,845 | 3,39,706 | 3,79,345 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 6,805 | 7,480 | 10,764 | 8,306 | 10,584 | 7,131 | 11,216 | 10,721 | 15,597 | 22,625 | |
| Cash from Investing | -5,175 | -4,421 | -10,182 | -7,807 | -8,946 | -807 | -10,087 | -13,625 | -13,638 | -23,871 |
| Cash from Financing | -236 | -196 | -337 | 38 | 678 | -238 | 1,985 | -403 | 1,607 | -275 |
| 819 | 2,122 | -651 | -381 | 1,435 | 4,897 | -1,219 | -3,307 | 3,566 | -1,521 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-11 - HDFC Life Insurance Company Limited has informed the Exchange about Action(s) taken or orders passed
2026-08-31 - HDFC Life Insurance Company Limited has informed the Exchange about Schedule of meet
2026-08-26 - HDFC Life Insurance Company Limited has informed the Exchange regarding allotment of 114000 equity shares under Employee Stock Option Schemes
2026-08-19 - HDFC Life Insurance Company Limited has informed the Exchange regarding 'Approval from the Insurance Regulatory and Development Authority of India (IRDAI) for re-appointment of Executive Directors'.
2026-08-04 - HDFC Life Insurance Company Limited has informed the Exchange about Schedule of meet
2026-07-22 - HDFC Life Insurance Company Limited has informed the Exchange about Transcript
2026-07-16 - HDFC Life Insurance Company Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on July 16, 2026
2026-07-15 - HDFC Life Insurance Company Limited has informed the Exchange about Link of Recording
2026-07-15 - HDFC Life Insurance Company Limited has informed the Exchange regarding Cessation of Mr Sumit Bose as Independent Director, of the company w.e.f. July 18, 2026 upon completion of his tenure of two consecutive terms of five years
News
Recent coverage and analyst commentary for HDFCLIFE
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