Life Insurance Corporation of India

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Life Insurance Corporation of India

₹ 987 0.18%
03 Jul 9:09 a.m.
licindia.in BSE: 543526 NSE: LICI
About

Life Insurance Corporation (LIC) is the largest insurance provider company in India. It has a market share of above 66.2% in new business premium. The company offers participating insurance products and non-participating products like unit-linked insurance products, saving insurance products, term insurance products, health insurance, and annuity & pension products.[1]

Key Points

Largest Insurance Company[1] LIC, owned by \ Government of India, is India's largest life insurance company with a history of over 65 years and a 61.6% market share in terms of premiums, 61.4% in New Business Premium, 71.8% in a number of individual policies issued, 88.8% in a number of group policies issued for 9MFY2022.

LIC is ranked fifth globally[2] by life insurance GWP and 10th globally in terms of total assets. It is the largest asset manager in India with an AUM of Rs 40.1 lakh crore as of Dec 2021, which is 17.0% of India's GDP. Its investments in listed equity represented around 4% of the total market capitalization of NSE and more government bonds than the RBI.

Website BSE NSE
  • Market Cap ₹ 6,24,277 Cr.
  • Current Price ₹ 987
  • High / Low ₹ 1,175 / 597
  • Stock P/E 15.4
  • Book Value ₹ 130
  • Dividend Yield 1.01 %
  • ROCE 73.1 %
  • ROE 63.8 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 72.2% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 80.9%

Cons

  • Stock is trading at 7.61 times its book value
  • The company has delivered a poor sales growth of 8.54% over past five years.
  • Tax rate seems low
  • Earnings include an other income of Rs.14,693 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Insurance Industry: Finance & Investments

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
189,073 81,726 180,905 174,270 211,326 168,071 216,355 196,958 200,382 189,300 202,221 213,345 238,092
185,274 152,575 181,696 171,233 209,220 166,922 285,094 193,351 186,584 178,435 193,379 202,681 236,544
Operating Profit 3,799 -70,849 -791 3,037 2,106 1,149 -68,739 3,607 13,797 10,866 8,842 10,664 1,548
OPM % 2% -87% -0% 2% 1% 1% -32% 2% 7% 6% 4% 5% 1%
115 72,432 5,411 392 208 959 90,114 234 578 77 248 163 14,205
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 3,914 1,582 4,621 3,429 2,313 2,108 21,376 3,841 14,375 10,943 9,090 10,827 15,753
Tax % 26% 100% 69% 93% -3% 68% 25% -65% 7% 13% 13% 13% 13%
2,893 3 1,434 235 2,372 683 15,952 6,334 13,428 9,544 7,925 9,444 13,763
EPS in Rs 2.27 0.37 3.75 1.08 25.22 10.01 21.23 15.09 12.53 14.93 21.76
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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
492,068 522,848 559,986 615,920 681,605 720,515 781,543 843,390
483,728 513,419 550,030 608,641 670,921 708,925 747,039 811,471
Operating Profit 8,339 9,429 9,957 7,280 10,684 11,590 34,504 31,919
OPM % 2% 2% 2% 1% 2% 2% 4% 4%
607 801 841 2,698 623 789 7,661 14,693
Interest 47 46 39 58 0 0 0 0
Depreciation 326 302 333 375 413 433 465 0
Profit before tax 8,573 9,882 10,425 9,545 10,895 11,945 41,700 46,612
Tax % 74% 75% 74% 72% 73% 66% 13% 13%
2,232 2,446 2,688 2,713 2,901 4,043 36,397 40,676
EPS in Rs 6.39 57.55 64.31
Dividend Payout % 0% 0% 2% 2% 0% 23% 5% 16%
Compounded Sales Growth
10 Years: %
5 Years: 9%
3 Years: 7%
TTM: 8%
Compounded Profit Growth
10 Years: %
5 Years: 72%
3 Years: 141%
TTM: 12%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 57%
Return on Equity
10 Years: %
5 Years: 83%
3 Years: 81%
Last Year: 64%

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
Equity Capital 100 100 100 100 100 6,325 6,325 6,325
Reserves 506 550 579 640 6,261 4,084 39,344 75,613
0 0 0 0 0 0 0 0
2,571,339 2,844,339 3,111,132 3,202,760 3,805,395 4,220,181 4,504,843 5,203,595
Total Liabilities 2,571,946 2,844,989 3,111,811 3,203,500 3,811,756 4,230,590 4,550,512 5,285,533
2,403 2,574 2,643 17,138 17,693 17,744 20,446 4,057
CWIP 182 175 241 246 148 198 331 0
Investments 2,335,631 2,604,269 2,829,867 2,906,128 3,506,930 3,911,654 4,227,894 4,975,514
233,729 237,972 279,059 279,988 286,984 300,993 301,842 305,962
Total Assets 2,571,946 2,844,989 3,111,811 3,203,500 3,811,756 4,230,590 4,550,512 5,285,533

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
70,555 67,931 19,849 74,769 55,723 -3,135 59,718 28,484
-78,249 -75,610 1,895 -85,722 -54,013 10,377 -57,899 -27,703
-2,497 -2,370 -2,252 -2,608 0 0 -949 -4,427
Net Cash Flow -10,191 -10,049 19,492 -13,562 1,710 7,241 870 -3,645

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 0 0 0 0 0 0 0 0
Inventory Days
Days Payable
Cash Conversion Cycle 0 0 0 0 0 0 0 0
Working Capital Days 41 41 52 38 35 42 41 38
ROCE % 1,580% 1,575% 1,354% 307% 142% 149%

Shareholding Pattern

Numbers in percentages

1 Recently
Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
96.50% 96.50% 96.50% 96.50% 96.50% 96.50% 96.50% 96.50%
0.12% 0.18% 0.17% 0.08% 0.08% 0.10% 0.06% 0.14%
1.06% 0.91% 0.91% 0.90% 0.83% 0.84% 1.00% 0.85%
2.32% 2.42% 2.42% 2.52% 2.58% 2.55% 2.43% 2.49%
No. of Shareholders 37,89,05336,03,67934,42,34033,78,79932,81,54431,34,54129,36,74027,16,181

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

Announcements

Annual reports

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