Life Insurance Corporation of India
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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 delivered good profit growth of 80.8% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 48.9%
- Company generates healthy free cash flow
- Company has a consistent dividend-paying track record
- Attractively priced for its growth - PEG of 0.5
CONS
- Company is loss-making at the operating / net level
- Operating margins have contracted to -72.0% from 9.8%
- Growth is decelerating - 3Y profit CAGR (16.9%) trails the 5Y trend (80.8%)
- Company's return on assets is weak at 1.0%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| LICI | 406.00 | 8.55 | 513589.81 | 2.46 | 135866.90 | 23.98 | 1276231.60 | 6.69 | 37.75 | -76.97 |
| SBILIFE | 1701.00 | 65.62 | 170669.76 | 0.16 | 7249.30 | 21.97 | 200782.10 | 16.88 | 14.15 | -127.01 |
| HDFCLIFE | 525.00 | 57.75 | 114060.92 | 0.40 | 611.19 | 11.46 | 16727.63 | 15.05 | 10.01 | -98.79 |
| ICICIGI | 1474.00 | 30.33 | 73641.45 | 0.92 | 4031.70 | 439.66 | 59500.40 | 1058.48 | 23.62 | -10.35 |
| ICICIPRULI | 473.50 | 40.79 | 68715.29 | 0.35 | 623.91 | 61.94 | 19180.08 | 17.17 | 11.82 | 79.46 |
| GICRE | 344.20 | 6.80 | 60386.45 | 3.85 | 1743.67 | -31.10 | 11097.77 | -1.56 | 22.43 | -10.45 |
| STARHEALTH | 575.45 | 40.12 | 33872.35 | 0.00 | 549.73 | 109.40 | 4917.20 | 24.86 | 9.70 | 2.89 |
| NIACL | 197.50 | 42.31 | 32548.00 | 0.76 | -2391.50 | -695.39 | 97472.80 | 934.31 | 5.44 | -24.14 |
| GODIGIT | 250.55 | 47.07 | 23179.50 | 0.00 | 86.39 | -37.55 | 2006.96 | 7.61 | 13.56 | -15.23 |
| NIVABUPA | 79.44 | 40.81 | 14693.58 | 0.00 | 137.80 | 250.70 | 2273.72 | 86.37 | 3.75 | -0.22 |
| CANHLIFE | 151.85 | 109.84 | 14425.75 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 9,87,552 | 10,78,768 | 11,74,319 | 15,27,673 | 11,42,302 | 12,03,257 | 10,73,023 | 14,79,172 | 11,96,184 | 12,69,300 | 12,59,882 | 16,50,672 | 12,76,232 | |
| 18,01,677 | 19,56,464 | 20,47,448 | 23,84,099 | 20,21,448 | 22,45,322 | 19,23,564 | 22,30,430 | 21,41,942 | 23,20,269 | 22,35,432 | 26,73,250 | 22,74,642 | |
| Operating Profit | -8,14,124 | -8,77,696 | -8,73,129 | -8,56,426 | -8,79,146 | -10,42,065 | -8,50,541 | -7,51,258 | -9,45,758 | -10,50,969 | -9,75,550 | -10,22,578 | -9,98,410 |
| OPM % | -82.44% | -81.36% | -74.35% | -56.06% | -76.96% | -86.60% | -79.27% | -50.79% | -79.06% | -82.80% | -77.43% | -61.95% | -78.23% |
| 9,15,250 | 9,54,445 | 9,68,282 | 10,01,980 | 9,87,229 | 11,16,008 | 9,72,670 | 9,61,711 | 10,58,326 | 11,56,386 | 11,07,882 | 11,48,422 | 11,35,433 | |
| 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 | 1,10,971 | 81,255 | 1,09,278 | 1,58,104 | 1,21,909 | 88,798 | 1,27,518 | 2,24,856 | 1,26,039 | 1,16,262 | 1,48,844 | 1,43,893 | 1,53,149 |
| Tax % | 13.17% | 1.20% | 13.03% | 12.85% | 13.36% | 12.90% | 13.67% | 15.25% | 13.05% | 13.12% | 12.98% | -63.10% | 11.28% |
| Net Profit | 96,357 | 80,281 | 95,040 | 1,37,791 | 1,05,617 | 77,346 | 1,10,086 | 1,90,566 | 1,09,589 | 1,01,010 | 1,29,530 | 2,34,685 | 1,35,867 |
| 15.23 | 12.70 | 14.97 | 21.79 | 16.67 | 12.22 | 17.40 | 30.10 | 17.32 | 15.97 | 20.44 | 37.10 | 10.74 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 54,56,085 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 95,03,592 | |
| Operating Profit | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -40,47,507 |
| OPM % | — | — | — | — | — | — | — | — | -74.18% |
| 0 | 0 | 25 | 111 | 131 | 152 | 173 | 191 | 45,48,122 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before Tax | 2,642 | 2,719 | 2,983 | 4,165 | 36,081 | 41,057 | 48,351 | 57,524 | 5,62,147 |
| Tax % | 0.57% | 0.30% | 0.29% | 0.96% | 0.23% | 0.34% | 0.06% | 0.12% | -6.93% |
| Net Profit | 2,627 | 2,710 | 2,974 | 4,125 | 35,997 | 40,916 | 48,320 | 57,453 | 6,01,092 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 64.69 | 76.40 | 90.83 | — |
| Dividend Payout % | 1.60% | 1.59% | 0.00% | 23.00% | — | 0.00% | 15.71% | 22.02% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 81%
- 3 Years:
- 17%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 7%
- 1 Year:
- -8%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 63%
- 3 Years:
- 49%
- Last Year:
- 38%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 100 | 100 | 100 | 6,325 | 6,325 | 6,325 | 6,325 | 6,325 |
| 886 | 988 | 6,805 | 5,040 | 40,220 | 76,767 | 1,21,484 | 1,70,661 | |
| 2,69,401 | 2,53,414 | 4 | 1 | 0 | 0 | 0 | 0 | |
| -2,70,387 | -2,54,502 | -6,908 | 41,71,169 | 44,72,322 | 51,69,160 | 54,83,780 | 57,32,545 | |
| Total Liabilities | 0 | 0 | 0 | 41,82,535 | 45,18,867 | 52,52,252 | 56,11,589 | 59,09,531 |
| 13,857 | 13,838 | 3,326 | 3,372 | 3,505 | 3,672 | 4,157 | 4,338 | |
| Capital Work in Progress | 0 | 0 | 0 | 199 | 331 | 403 | 326 | 419 |
| Cash & Bank | 67,900 | 63,153 | 36,078 | 44,724 | 45,499 | 41,824 | 69,885 | 72,013 |
| -81,757 | -76,990 | -39,404 | 41,34,240 | 44,69,532 | 52,06,353 | 55,37,221 | 58,32,761 | |
| Total Assets | 0 | 0 | 0 | 41,82,535 | 45,18,867 | 52,52,252 | 56,11,589 | 59,09,531 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| 32,897 | 66,710 | 71,839 | 6,326 | 51,135 | 26,548 | -9,721 | -26,211 | |
| Cash from Investing | 8,764 | -41,809 | 1,48,792 | 12,099 | -54,472 | -25,826 | 40,999 | 34,708 |
| Cash from Financing | -13,700 | -18,664 | -2,56,125 | 0 | -949 | -4,427 | -3,794 | -7,626 |
| 8,339 | -6,106 | -26,731 | 8,316 | -902 | -3,706 | 27,484 | 871 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| 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
2026-09-09 - The Exchange has sought clarification from Life Insurance Corporation Of India for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company is required to clarify the following: The response of the Company is awaited.
2026-09-08 - Life Insurance Corporation Of India has informed the Exchange about the Corporation's participation in three Investor Meets/Conferences.
2026-08-31 - Life Insurance Corporation Of India has informed the Exchange about the launch of new products.
2026-08-31 - Life Insurance Corporation Of India has informed the Exchange about the cessation of Senior Management Personnel.
2026-08-27 - Life Insurance Corporation Of India has informed the Exchange about subscribed for Non-Convertible Debentures for Bajaj Finance Limited.
2026-08-19 - Life Insurance Corporation Of India has informed the Exchange regarding 'Post OFS Shareholding Pattern'.
2026-08-18 - Life Insurance Corporation Of India has informed the Exchange about re-designation of Senior Management Personnel.
2026-08-17 - Life Insurance Corporation Of India has informed the Exchange about the Investors' Meet on August 17, 2026 have been attended by the representatives of the Corporation.
2026-08-13 - Corporation has informed the Exchange about their representatives having attended the Investors Meet on August 13, 2026
News
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