HDFC Life Insurance
HDFCLIFE NSE
HDFC Life Insurance
Insurance F&ONSE: HDFCLIFE BSE: 540777 Life Insurance
Key Fundamentals
LargecapLife InsuranceInsuranceMarket Cap
1.1L Cr
Volatility
Moderate
P/E Ratio
58.45
EBITDA
₹2,438 Cr
Return on Equity
10.77%
Debt to Equity
0.17
Book Value
₹90.04
EPS
₹7.61
52W High
₹788.5
52W Low
₹508.7
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Company has been maintaining a healthy dividend payout of 25.3%
Weaknesses
5- Stock is trading at 5.93 times its book value
- The company has delivered a poor sales growth of 6.81% over past five years.
- Tax rate seems low
- Company has a low return on equity of 11.1% over last 3 years.
- Earnings include an other income of Rs.931 Cr.
Growth Rate
Revenue Growth
3.05% lower than
3Y
Net Income Growth
5.61% lower than
3Y
Cash Flow Change
45.06% lower than
3Y
ROE
-3.93% lower than
3Y
ROCE
-1.67% lower than
3Y
EBITDA Margin (Avg.)
56.77% lower than
3Y
AI Analysis — Bull vs Bear
7d ago
AI opinion · based on fundamentals
Risk medium
HDFC Life Insurance has a market capitalisation of about Rs 1,11,922 Cr. It trades at a P/E of 58 and a P/B of 5.86, while its return on equity (ROE) has held at around 11% over the last 1, 3 and 5 years. Sales and profit grew at a 12% compounded rate over 3 years, but growth slowed to 4% and 5% on a trailing twelve-month (TTM) basis. The stock has fallen 31% over the past year and shows a -6% CAGR over both 3 and 5 years.
Bull Case 7
- Revenue has compounded at 19% annually over 10 years, which shows the company can scale its premium base over a long period.
- 3-year compounded sales and profit growth of 12% each is well above the 5-year rate of 7%, which points to faster growth recently than earlier in the 5-year window.
- Profit and sales both grew at 12% over 3 years, so earnings growth is keeping pace with revenue rather than depending on margin expansion alone.
- The company keeps a steady dividend payout of 25.3% of earnings while retaining most of its profit to fund solvency and growth.
- The 10-year average ROE of 14% shows the business has earned higher returns on equity in the past than the current 11%.
- After a 31% fall over one year, the stock's valuation is lower than its recent history, though at a P/E of 58 it is still high in absolute terms.
- Growth is still positive on a TTM basis, with profit up 5% and sales up 4%, so the earnings trend has not turned negative.
Bear Case 8
- A P/E of 58 prices in strong future growth, while TTM profit growth is only 5%, leaving little room for disappointment.
- The stock trades at 5.86 times book value but earns an ROE of only about 11% (3-year and 5-year), so investors are paying a large premium to book for modest returns on equity.
- Shareholders have lost money over time: the stock shows a -6% CAGR over both 3 and 5 years and -31% over the last year.
- Growth is slowing. TTM sales growth of 4% compares with a 3-year CAGR of 12% and a 10-year CAGR of 19%, and the 5-year sales CAGR is only 6.81%.
- Over 10 years, profit compounded at 9% while sales compounded at 19%. Earnings have not kept up with top-line growth.
- Reported earnings include Rs 931 Cr of other income, and the tax rate looks low. Both may overstate the quality or repeatability of profits.
- ROE has fallen from a 10-year average of 14% to about 11% over the last 1, 3 and 5 years, which points to a decline in capital efficiency.
- A dividend yield of 0.4% gives very little income support while the share price is falling.
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
4h ago
Headwinds 1
- ₹2,423 cr GST demand upheld Sep 11
An appeal order confirmed a ₹2,422.97 crore GST penalty and tax demand against HDFC Life for July 2017 to March 2022. The company plans to contest it at a higher forum, so the liability stays unresolved for now.
TL;DR: The only development in this news set is a negative one: an appellate authority upheld a ₹2,422.97 crore GST penalty and tax demand covering July 2017 to March 2022. The dataset has no positive or neutral items, so it says nothing about the company's operations, premium growth or margins. The demand is still contested, so it remains a regulatory and legal overhang, not a confirmed cash outflow. What happens next depends on the further appeal and on how management discloses or provisions for the amount in upcoming results.
Quarterly Results
| Particulars | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 23,371 | 23,142 | 26,927 | 28,041 | 26,934 | 28,497 | 17,300 | 24,191 | 29,463 | 20,651 | 29,428 | 19,890 | 33,759 |
| Expenses | 23,045 | 23,557 | 26,663 | 27,766 | 26,623 | 28,807 | 16,852 | 23,814 | 29,024 | 20,336 | 29,157 | 19,782 | 33,253 |
| Operating Profit | 326 | -415 | 264 | 275 | 311 | -310 | 448 | 377 | 439 | 315 | 271 | 108 | 506 |
| OPM % | 1.4% | -1.8% | 1% | 1% | 1.2% | -1.1% | 2.6% | 1.6% | 1.5% | 1.5% | 0.9% | 0.6% | 1.5% |
| Other Income | 114 | 136 | 103 | 174 | 90 | 279 | -29 | 124 | 164 | 157 | 174 | 428 | 171 |
| 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 |
| PBT | 440 | -279 | 367 | 450 | 401 | -30 | 419 | 500 | 604 | 471 | 445 | 537 | 677 |
| Tax % | 5% | -235% | 0% | 8% | -20% | -1541% | -1% | 5% | 9% | 5% | 6% | 7% | 10% |
| Net Profit | 417 | 378 | 368 | 412 | 479 | 435 | 421 | 475 | 548 | 448 | 418 | 497 | 611 |
| EPS in Rs | 1.94 | 1.76 | 1.71 | 1.91 | 2.23 | 2.02 | 1.96 | 2.21 | 2.54 | 2.08 | 1.94 | 2.31 | 2.81 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 27,215 | 18,141 | 30,647 | 32,260 | 38,855 | 29,380 | 71,528 | 67,126 | 70,207 | 1,01,482 | 96,922 | 99,432 | 1,03,727 |
| Expenses | 26,341 | 17,187 | 29,674 | 31,186 | 37,640 | 28,239 | 70,294 | 66,348 | 70,127 | 1,00,836 | 95,894 | 97,679 | 1,02,527 |
| Operating Profit | 874 | 953 | 972 | 1,074 | 1,215 | 1,141 | 1,235 | 778 | 80 | 646 | 1,028 | 1,753 | 1,200 |
| OPM % | 3.2% | 5% | 3.2% | 3.3% | 3.1% | 3.9% | 1.7% | 1.2% | 0.1% | 0.6% | 1.1% | 1.8% | 1.2% |
| Other Income | 79 | 108 | 139 | 282 | 136 | 369 | 445 | 766 | 1,437 | 410 | 366 | 465 | 931 |
| Interest | -14 | 8 | 9 | 11 | 14 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 43 | 45 | 41 | 44 | 45 | 47 | 51 | 56 | 76 | 79 | 104 | 161 | 0 |
| PBT | 924 | 1,008 | 1,061 | 1,300 | 1,291 | 1,463 | 1,629 | 1,487 | 1,441 | 977 | 1,290 | 2,057 | 2,130 |
| Tax % | 15% | 19% | 16% | 15% | 1% | 11% | 16% | 11% | 5% | -61% | -40% | 7% | — |
| Net Profit | 786 | 817 | 887 | 1,107 | 1,278 | 1,297 | 1,361 | 1,327 | 1,368 | 1,574 | 1,811 | 1,912 | 1,975 |
| EPS in Rs | 3.94 | 4.09 | 4.44 | 5.5 | 6.33 | 6.43 | 6.73 | 6.28 | 6.37 | 7.32 | 8.41 | 8.86 | 9.14 |
| Div. Payout % | 18% | 22% | 25% | 25% | 26% | 0% | 30% | 27% | 30% | 27% | 25% | 24% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 1,995 | 1,995 | 1,998 | 2,012 | 2,017 | 2,019 | 2,021 | 2,113 | 2,149 | 2,151 | 2,153 | 2,158 |
| Reserves | 546 | 1,108 | 1,828 | 2,693 | 3,625 | 4,788 | 6,619 | 13,501 | 10,844 | 12,515 | 14,002 | 15,592 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 600 | 600 | 950 | 950 | 2,950 | 3,099 |
| Other Liabilities | 66,767 | 73,441 | 91,270 | 1,05,778 | 1,24,378 | 1,25,417 | 1,70,415 | 2,14,521 | 2,34,126 | 2,87,071 | 3,30,307 | 3,69,654 |
| Total Liabilities | 69,309 | 76,544 | 95,097 | 1,10,483 | 1,30,020 | 1,32,224 | 1,79,655 | 2,30,734 | 2,48,069 | 3,02,687 | 3,49,412 | 3,90,502 |
| Fixed Assets | 346 | 335 | 337 | 336 | 370 | 322 | 585 | 6,605 | 997 | 1,549 | 2,143 | 2,716 |
| CWIP | 6 | 12 | 16 | 5 | 10 | 8 | 14 | 20 | 31 | 28 | 109 | 139 |
| Investments | 67,024 | 74,144 | 91,723 | 1,06,590 | 1,24,958 | 1,27,256 | 1,73,564 | 2,16,551 | 2,38,197 | 2,91,128 | 3,34,756 | 3,73,340 |
| Other Assets | 1,932 | 2,053 | 3,020 | 3,551 | 4,682 | 4,637 | 5,493 | 7,559 | 8,844 | 9,982 | 12,404 | 14,308 |
| Total Assets | 69,309 | 76,544 | 95,097 | 1,10,483 | 1,30,020 | 1,32,224 | 1,79,655 | 2,30,734 | 2,48,069 | 3,02,687 | 3,49,412 | 3,90,502 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 4,459 | 5,687 | 6,230 | 6,739 | 9,868 | 7,388 | 9,703 | 5,943 | 6,883 | 10,721 | 15,597 | 22,625 |
| Investing | -3,514 | -3,962 | -5,177 | -4,421 | -10,182 | -7,789 | -8,952 | -801 | -10,071 | -13,622 | -13,633 | -23,849 |
| Financing | -168 | -212 | -236 | -196 | -337 | 38 | 678 | -238 | 1,985 | -403 | 1,607 | -275 |
| Net Cash Flow | 777 | 1,513 | 817 | 2,122 | -651 | -364 | 1,429 | 4,904 | -1,203 | -3,304 | 3,572 | -1,499 |
| Free Cash Flow | 4,352 | 5,654 | 6,183 | 6,706 | 9,825 | 7,351 | 9,643 | 5,887 | 6,797 | 10,587 | 15,300 | 22,341 |
| CFO/OP | 510 | 597 | 641 | 627 | 813 | 672 | 806 | 789 | 9,190 | 1,444 | 1,543 | 1,302 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 0 | 0 | 0 | 0 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Conversion Cycle | 0 | 0 | 0 | 0 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Working Capital Days | -11 | -27 | -20 | -25 | -16 | -17 | -13 | -11 | -12 | -8 | -6 | -6 |
| ROCE % | 41% | 36% | 31% | 31% | 23% | 24% | 20% | 12% | 10% | 5% | 7% | 10% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view HDFC Life Insurance insights
51 extracted metrics + investor summaries across FY07–FY27.
Documents
2
Transcript Of Earnings Conference Call - FY'26
23 Apr - Enclosed Transcript of Earnings Call held on April 16, 2026 23 Apr - Enclosed Transcript of Earnings Call held on April 16, 2026
3
Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 - Update On Preferential
Issue Of Equity Shares To HDFC Bank Limited
23 Apr - Updated preferential issue of 1,45,23,906 shares to HDFC Bank; post-issue stake rises to 50.27%. 23 Apr - Updated preferential issue of 1,45,23,906 shares to HDFC Bank; post-issue stake rises to 50.27%.
4
Transcript Of Earnings Conference Call - FY'26
4h - Enclosed Transcript of Earnings Call held on April 16, 2026 4h - Enclosed Transcript of Earnings Call held on April 16, 2026
5
Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 - Update On Preferential
Issue Of Equity Shares To HDFC Bank Limited
4h - Updated preferential issue of 1,45,23,906 shares to HDFC Bank; post-issue stake rises to 50.27%. 4h - Updated preferential issue of 1,45,23,906 shares to HDFC Bank; post-issue stake rises to 50.27%.
3
Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 - GST Order 11 Sept 2026
General_Announcements
Frequently Asked Questions about HDFC Life Insurance
What does HDFC Life Insurance Company Ltd do?
HDFC Life Insurance Company is engaged in carrying on the business of life insurance. The Company offers a range of individual and group insurance solutions. The portfolio comprises of various insurance and investment products such as Protection, Pension, Savings,(Source : 202003 Annual Report Pa...
Where is HDFC Life Insurance Company Ltd (HDFCLIFE) listed?
HDFC Life Insurance Company Ltd trades as HDFCLIFE on the NSE and under code 540777 on the BSE.
Which sector does HDFC Life Insurance Company Ltd belong to?
HDFC Life Insurance Company Ltd is classified under the Insurance sector, in the Life Insurance industry.
What is the market capitalisation of HDFC Life Insurance Company Ltd?
HDFC Life Insurance Company Ltd has a market capitalisation of ₹1,14,539 Cr, which places it in the Large Cap band.
What is the PE ratio of HDFC Life Insurance Company Ltd?
HDFC Life Insurance Company Ltd trades at a PE ratio of 58.45, on earnings per share of ₹7.61, against a book value of ₹90.04 per share.
What is the 52-week high and low of HDFC Life Insurance Company Ltd?
Over the last 52 weeks HDFC Life Insurance Company Ltd has traded between ₹508.7 and ₹788.5.
Does HDFC Life Insurance Company Ltd pay dividends?
HDFC Life Insurance Company Ltd has a dividend yield of 0.40%.
What is the Return on Equity (ROE) of HDFC Life Insurance Company Ltd?
HDFC Life Insurance Company Ltd reported a return on equity of 10.77%. Its debt-to-equity ratio is 0.17.
Company Information
HDFC Life Insurance Company is engaged in carrying on the business of life insurance. The Company offers a range of individual and group insurance solutions. The portfolio comprises of various insurance and investment products such as Protection, Pension, Savings,(Source : 202003 Annual Report Page No: 175)
Website hdfclife.com
CEO Ms. Vibha U. Padalkar
Employees 38,470
Listed 2017-11-17
Face Value ₹ 10
Issued Size 2,15,76,15,850
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