Life Insurance Corporation of India

•

licindia.inBSE: 543526NSE: LICI

Market Cap₹ 5,15,234 Cr.

Current Price

High / Low₹ 468 / 361

Stock P/E8.6

Book Value₹ 154

Price to Book2.62

Dividend Yield2.46 %

ROCE38.1 %

ROE38.0 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Financial Services

Buy

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.

Confidence

84%

View full sector analysis →

PROS

Company has delivered good profit growth of 81.7% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 49.3%
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 9.1%
Valuation is stretched - P/E of 8.6 is well above its own 5-year median (5.3)
Growth is decelerating - 3Y profit CAGR (16.4%) trails the 5Y trend (81.7%)
Company's return on assets is weak at 1.0%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Financial ServicesInsuranceInsurance

Part ofNIFTY MIDCAP 150 NIFTY 500 NIFTY LARGEMID250 NIFTY TOTAL MKT BSE Enhanced Value Index

S.No.	Name
1.	LICI	407.30	8.58	515234.31	2.46	135866.90	23.98	1276231.60	6.69	37.75	-76.97
2.	SBILIFE	1685.00	65.00	169064.40	0.16	7249.30	21.97	200782.10	16.88	14.15	-127.01
3.	HDFCLIFE	514.35	56.58	111747.11	0.41	611.19	11.46	16727.63	15.05	10.01	-98.79
4.	ICICIGI	1487.00	30.60	74290.94	0.91	4031.70	439.66	59500.40	1058.48	23.62	-10.35
5.	ICICIPRULI	460.00	39.63	66756.14	0.36	623.91	61.94	19180.08	17.17	11.82	79.46
6.	GICRE	350.05	6.92	61412.77	3.79	1743.67	-31.10	11097.77	-1.56	22.43	-10.45
7.	NIACL	205.75	44.08	33907.60	0.73	-2391.50	-695.39	97472.80	934.31	5.44	-24.14
8.	STARHEALTH	571.40	39.84	33633.95	0.00	549.73	109.40	4917.20	24.86	9.70	2.89
9.	GODIGIT	253.50	47.63	23452.42	0.00	86.39	-37.55	2006.96	7.61	13.56	-15.23
10.	NIVABUPA	79.57	40.88	14717.62	0.00	137.80	250.70	2273.72	86.37	3.75	-0.22
11.	CANHLIFE	149.55	108.18	14207.25	0.27	281.40	1101.54	20475.20	1138.35	8.35	-112.52

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	9,83,628	10,73,968	11,70,169	15,22,931	11,37,701	11,99,010	10,68,915	14,75,856	11,92,004	12,64,793	12,56,134	16,46,912	12,72,504
	17,84,345	19,44,534	20,26,808	23,62,946	20,00,364	22,23,542	19,08,387	22,09,871	21,20,605	23,01,435	22,13,864	26,50,052	22,52,087
Operating Profit	-8,00,718	-8,70,567	-8,56,639	-8,40,015	-8,62,662	-10,24,532	-8,39,472	-7,34,015	-9,28,601	-10,36,643	-9,57,730	-10,03,140	-9,79,583
OPM %	-81.40%	-81.06%	-73.21%	-55.16%	-75.83%	-85.45%	-78.53%	-49.73%	-77.90%	-81.96%	-76.24%	-60.91%	-76.98%
	9,10,143	9,50,723	9,64,911	9,97,541	9,83,164	11,11,764	9,66,984	9,58,006	10,54,500	11,51,978	11,06,155	11,46,284	11,31,406
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	1,09,426	80,156	1,08,272	1,57,526	1,20,502	87,232	1,27,512	2,23,991	1,25,899	1,15,335	1,48,426	1,43,144	1,51,823
Tax %	12.78%	1.13%	12.77%	12.63%	13.19%	12.64%	13.29%	15.12%	12.74%	12.83%	12.70%	-63.61%	11.13%
Net Profit	95,437	79,250	94,444	1,37,626	1,04,610	76,209	1,10,565	1,90,128	1,09,865	1,00,534	1,29,582	2,34,204	1,34,920
	15.09	12.53	14.93	21.76	16.54	12.05	17.48	30.06	17.37	15.89	20.49	37.03	10.67

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	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	54,40,342
	0	0	0	0	0	0	0	0	0	0	94,17,438
Operating Profit	0	0	0	0	0	0	0	0	0	0	-39,77,095
OPM %	—	—	—	—	—	—	—	—	—	—	-73.10%
	0	0	0	0	0	0	3	0	0	0	45,35,823
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	2,248	2,459	2,703	2,721	2,907	4,067	36,457	40,787	48,151	57,454	5,58,728
Tax %	0.74%	0.53%	0.55%	0.30%	0.21%	0.58%	0.16%	0.27%	0.00%	0.06%	-7.25%
Net Profit	2,232	2,446	2,688	2,713	2,901	4,043	36,397	40,676	48,151	57,419	5,99,241
EPS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	64.31	76.13	90.78	—
Dividend Payout %	98.59%	99.00%	1.56%	1.59%	0.00%	23.47%	5.21%	15.55%	15.76%	22.03%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

COMPOUNDED PROFIT GROWTH

10 Years:: 37%
5 Years:: 82%
3 Years:: 16%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: 6%
1 Year:: -8%

RETURN ON EQUITY

10 Years:: 200%
5 Years:: 65%
3 Years:: 49%
Last Year:: 38%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	100	100	100	100	100	6,325	6,325	6,325	6,325	6,325
	502	527	555	622	6,225	4,043	39,492	75,740	1,20,106	1,69,079
	-602	-627	-655	-722	-6,325	41,48,977	44,45,314	51,39,973	54,48,723	56,90,422
Total Liabilities	0	0	0	0	0	41,59,345	44,91,131	52,22,038	55,75,155	58,65,826
	2,403	2,574	2,643	2,767	3,305	3,354	3,489	3,655	4,136	4,318
Capital Work in Progress	0	0	0	0	0	198	331	402	326	419
Cash & Bank	32,729	22,681	42,178	28,581	30,293	37,432	38,353	34,521	62,300	64,284
	-35,133	-25,255	-44,821	-31,349	-33,599	41,18,361	44,48,958	51,83,460	55,08,393	57,96,805
Total Assets	0	0	0	0	0	41,59,345	44,91,131	52,22,038	55,75,155	58,65,826

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	85,012	83,170	37,919	86,106	67,515	6,861	56,202	28,911	-6,756	-25,398
Cash from Investing	-78,249	-75,610	1,895	-85,763	-54,186	10,486	-58,196	-28,129	38,090	34,995
Cash from Financing	-2,497	-2,370	-2,252	-2,608	0	0	-949	-4,427	-3,794	-7,589
	-10,191	-10,115	19,408	-13,602	1,537	7,350	573	-3,645	27,540	2,008

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	96.50	96.50	96.51	96.50	96.50	96.50	96.50	96.50	96.50
	0.19	0.16	0.07	0.10	0.11	0.13	0.20	0.31	0.44
	0.94	1.16	1.26	1.27	1.37	1.35	1.33	1.27	0.99
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Public	2.37	2.18	2.17	2.12	2.02	2.02	1.96	1.91	2.07

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-09

Clarification - Financial Results

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

General Updates

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

General Updates

2026-08-31 - Life Insurance Corporation Of India has informed the Exchange about the launch of new products.

2026-08-31

Change in Management

2026-08-31 - Life Insurance Corporation Of India has informed the Exchange about the cessation of Senior Management Personnel.

2026-08-27

General Updates

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

Updates

2026-08-19 - Life Insurance Corporation Of India has informed the Exchange regarding 'Post OFS Shareholding Pattern'.

2026-08-18

General Updates

2026-08-18 - Life Insurance Corporation Of India has informed the Exchange about re-designation of Senior Management Personnel.

2026-08-17

General Updates

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

General Updates

2026-08-13 - Corporation has informed the Exchange about their representatives having attended the Investors Meet on August 13, 2026

News

Recent coverage and analyst commentary for LICI

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Life Insurance Corporation of India

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Name

LICI

407.30

8.58

515234.31

2.46

135866.90

23.98

1276231.60

6.69

37.75

-76.97

SBILIFE

1685.00

65.00

169064.40

0.16

7249.30

21.97

200782.10

16.88

14.15

-127.01

HDFCLIFE

514.35

56.58

111747.11

0.41

611.19

11.46

16727.63

15.05

10.01

-98.79

ICICIGI

1487.00

30.60

74290.94

0.91

4031.70

439.66

59500.40

1058.48

23.62

-10.35

ICICIPRULI

460.00

39.63

66756.14

0.36

623.91

61.94

19180.08

17.17

11.82

79.46

GICRE

350.05

6.92

61412.77

3.79

1743.67

-31.10

11097.77

-1.56

22.43

-10.45

NIACL

205.75

44.08

33907.60

0.73

-2391.50

-695.39

97472.80

934.31

5.44

-24.14

STARHEALTH

571.40

39.84

33633.95

0.00

549.73

109.40

4917.20

24.86

9.70

2.89

GODIGIT

253.50

47.63

23452.42

0.00

86.39

-37.55

2006.96

7.61

13.56

-15.23

NIVABUPA

79.57

40.88

14717.62

0.00

137.80

250.70

2273.72

86.37

3.75

-0.22

CANHLIFE

149.55

108.18

14207.25

0.27

281.40

1101.54

20475.20

1138.35

8.35

-112.52

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

9,83,628

10,73,968

11,70,169

15,22,931

11,37,701

11,99,010

10,68,915

14,75,856

11,92,004

12,64,793

12,56,134

16,46,912

12,72,504

17,84,345

19,44,534

20,26,808

23,62,946

20,00,364

22,23,542

19,08,387

22,09,871

21,20,605

23,01,435

22,13,864

26,50,052

22,52,087

Operating Profit

-8,00,718

-8,70,567

-8,56,639

-8,40,015

-8,62,662

-10,24,532

-8,39,472

-7,34,015

-9,28,601

-10,36,643

-9,57,730

-10,03,140

-9,79,583

OPM %

-81.40%

-81.06%

-73.21%

-55.16%

-75.83%

-85.45%

-78.53%

-49.73%

-77.90%

-81.96%

-76.24%

-60.91%

-76.98%

9,10,143

9,50,723

9,64,911

9,97,541

9,83,164

11,11,764

9,66,984

9,58,006

10,54,500

11,51,978

11,06,155

11,46,284

11,31,406

Interest

Depreciation

Profit before Tax

1,09,426

80,156

1,08,272

1,57,526

1,20,502

87,232

1,27,512

2,23,991

1,25,899

1,15,335

1,48,426

1,43,144

1,51,823

Tax %

12.78%

1.13%

12.77%

12.63%

13.19%

12.64%

13.29%

15.12%

12.74%

12.83%

12.70%

-63.61%

11.13%

Net Profit

95,437

79,250

94,444

1,37,626

1,04,610

76,209

1,10,565

1,90,128

1,09,865

1,00,534

1,29,582

2,34,204

1,34,920

15.09

12.53

14.93

21.76

16.54

12.05

17.48

30.06

17.37

15.89

20.49

37.03

10.67

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

54,40,342

94,17,438

Operating Profit

-39,77,095

OPM %

—

-73.10%

45,35,823

Interest

Depreciation

Profit before Tax

2,248

2,459

2,703

2,721

2,907

4,067

36,457

40,787

48,151

57,454

5,58,728

Tax %

0.74%

0.53%

0.55%

0.30%

0.21%

0.58%

0.16%

0.27%

0.00%

0.06%

-7.25%

Net Profit

2,232

2,446

2,688

2,713

2,901

4,043

36,397

40,676

48,151

57,419

5,99,241

EPS

0.00

64.31

76.13

90.78

—

Dividend Payout %

98.59%

99.00%

1.56%

1.59%

0.00%

23.47%

5.21%

15.55%

15.76%

22.03%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

100

6,325

502

527

555

622

6,225

4,043

39,492

75,740

1,20,106

1,69,079

-602

-627

-655

-722

-6,325

41,48,977

44,45,314

51,39,973

54,48,723

56,90,422

Total Liabilities

41,59,345

44,91,131

52,22,038

55,75,155

58,65,826

2,403

2,574

2,643

2,767

3,305

3,354

3,489

3,655

4,136

4,318

Capital Work in Progress

198

331

402

326

419

Cash & Bank

32,729

22,681

42,178

28,581

30,293

37,432

38,353

34,521

62,300

64,284

-35,133

-25,255

-44,821

-31,349

-33,599

41,18,361

44,48,958

51,83,460

55,08,393

57,96,805

Total Assets

41,59,345

44,91,131

52,22,038

55,75,155

58,65,826

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

85,012

83,170

37,919

86,106

67,515

6,861

56,202

28,911

-6,756

-25,398

Cash from Investing

-78,249

-75,610

1,895

-85,763

-54,186

10,486

-58,196

-28,129

38,090

34,995

Cash from Financing

-2,497

-2,370

-2,252

-2,608

-949

-4,427

-3,794

-7,589

-10,191

-10,115

19,408

-13,602

1,537

7,350

573

-3,645

27,540

2,008

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

96.50

96.51

96.50

0.19

0.16

0.07

0.10

0.11

0.13

0.20

0.31

0.44

0.94

1.16

1.26

1.27

1.37

1.35

1.33

1.27

0.99

Government

0.00

Public

2.37

2.18

2.17

2.12

2.02

1.96

1.91

2.07

Life Insurance Corporation of India

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Life Insurance Corporation of India

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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