Life Insurance Corporation of India logo

Life Insurance Corporation of India

LICI NSE

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]

AI Verdict: BUY Confidence: 7%

LIC trades at a compelling PE of 9.7x with a 3-year ROE of 45.5% and profit CAGR of 17% over 3 years. With 82.6% analyst buy ratings and a near debt-free balance sheet, the stock offers value at current levels despite muted top-line growth of 7% over 5 years.

Key Fundamentals

LargecapLife InsuranceInsurance
Market Cap
5.4L Cr
Volatility
Moderate
P/E Ratio
9.32
EBITDA
-3.9L Cr
Return on Equity
49.36%
Debt to Equity
0
Book Value
₹139.61
EPS
₹66.13
52W High
₹490
52W Low
₹360.75

Technical Indicators

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 45.5%

Weaknesses

2
  • The company has delivered a poor sales growth of 7.19% over past five years.
  • Tax rate seems low

Growth Rate

Revenue Growth
-40.15% ↘
Net Income Growth
18.90% ↘
Cash Flow Change
-134.45% ↘
ROE
-23.22% ↘
ROCE
10.13% ↗
EBITDA Margin (Avg.)
-1192.74% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 1d ago
BUY
Risk medium

LIC trades at a compelling PE of 9.7x with a 3-year ROE of 45.5% and profit CAGR of 17% over 3 years. With 82.6% analyst buy ratings and a near debt-free balance sheet, the stock offers value at current levels despite muted top-line growth of 7% over 5 years.

Bull Case 8
  • Exceptionally low PE of 9.7x compared to financial services sector average of 15-20x, indicating significant undervaluation
  • Outstanding 3-year ROE of 45.5% demonstrates highly efficient capital deployment for a life insurer of this scale
  • Strong analyst consensus with 82.61% buy ratings (19 out of 23 analysts recommend buy)
  • Company is almost debt-free, providing financial stability and flexibility for future growth initiatives
  • Compounded profit growth of 17% over 3 years and 20% TTM shows accelerating earnings momentum
  • Dividend yield of 2.26% offers meaningful income in addition to capital appreciation potential
  • Market cap of Rs 5,62,925 crore reflects dominant market position as India's largest life insurer with unmatched distribution reach
  • 5-year compounded profit CAGR of 81% reflects structural earnings improvement post-listing and operational efficiencies
Bear Case 8
  • Poor sales growth of only 7.19% over 5 years indicates market share pressure from private insurers
  • Stock price CAGR of -6% over the last 1 year shows negative price momentum and investor skepticism
  • Price-to-book ratio of 3.17x is elevated for a company with single-digit revenue growth, limiting margin of safety
  • ROE declining from 52% (5-year) to 38% (last year) suggests diminishing returns on equity over time
  • Low effective tax rate raises questions about sustainability of reported earnings and future tax normalization risk
  • TTM sales growth of 10% while respectable is still below private sector peers growing at 15-20% annually
  • Only 12% stock CAGR over 3 years underperforms broader Nifty returns, indicating relative underperformance
  • 4.35% of analysts rate the stock as sell and 13.04% as hold, reflecting some institutional caution

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 14h ago
Headwinds 2
  • CFO resigns for better prospects Jun 24

    Sunil Agrawal resigned as CFO effective July 14, 2026, to pursue better opportunities. Key financial leadership vacancy at a critical time.

  • Government 5% stake sale underway Jun 16

    Government raised LIC stake sale offer to 5% equity with retail sale starting June 17. Large supply overhang of shares could pressure stock price in the near term.

Positives 3
  • FY26 profit surges 19.25% Jun 2

    LIC reported net profit of ₹57,419 crore for FY26, up 19.25% YoY, driven by premium income growth and improved VNB margins. Completed 1:1 bonus share allotment of 632.5 crore shares on June 1.

  • ₹10 final dividend declared Jun 15

    LIC recommended ₹10 per share final dividend for FY26 with record date June 25, 2026, and payment by August 25, 2026. 5th AGM scheduled for July 27.

  • First-year premium grows 3.46% Jun 9

    LIC reported first-year premium collections of ₹190 billion in May 2025, registering 3.46% YoY growth, indicating continued new business momentum.

Neutral 5
  • New Chief Compliance Officer appointed Jun 24

    Jayasimhan Tirumala appointed as Chief Compliance Officer effective June 24, 2026, subject to IRDAI approval, replacing superannuated Krishna Kumar Sukumaran Nair.

  • Dinesh Pant joins IRDAI as member Jun 16

    LIC's Dinesh Pant appointed as Whole Time Member (Actuary) at IRDAI for a five-year term.

  • Active investor engagement schedule May 28

    LIC participated in BofA India Conference (June 2), Citi 2026 India Conference (June 5), and investor meet at Hotel Trident BKC (June 23).

  • Radha Chatterjee re-designated Jun 9

    Smt Radha Chatterjee re-designated as Chief (In-Charge) for Corporate Governance and Golden Jubilee Foundation, now classified as Senior Management Personnel.

  • Trading window closed for Q1FY27 Jun 16

    LIC closed its trading window from July 1, 2026, until 48 hours after Q1FY27 board meeting per insider trading regulations.

TL;DR: LIC delivered strong FY26 results with 19.25% profit growth and improving VNB margins, supported by steady new business generation. The ₹10 dividend and 1:1 bonus share allotment signal shareholder-friendly capital return. Key risks include the government's 5% stake sale creating near-term supply pressure and the CFO's departure. The fundamental trend is positive but the overhang from divestment may cap upside until absorbed.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
2,01,231
1,90,163
2,03,033
2,14,054
2,38,717
2,11,952
2,31,132
2,03,751
2,43,134
2,24,671
2,41,524
2,35,954
2,76,744
Expenses
1,89,692
1,80,169
1,94,558
2,04,815
2,37,152
2,02,180
2,24,544
1,91,818
2,21,621
2,14,198
2,32,032
2,23,588
2,65,521
Operating Profit
11,539
9,994
8,475
9,239
1,564
9,773
6,588
11,934
21,514
10,474
9,492
12,366
11,222
OPM %
6%
5%
4%
4%
1%
5%
3%
6%
9%
5%
4%
5%
4%
Other Income
612
117
288
206
14,249
1,001
794
818
954
780
1,044
822
3,166
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
12,151
10,111
8,763
9,445
15,813
10,774
7,382
12,752
22,468
11,253
10,537
13,188
14,388
Tax %
8%
14%
13%
15%
12%
15%
16%
14%
15%
15%
14%
15%
-63%
Net Profit
13,189
9,634
8,032
9,434
13,842
10,527
7,723
11,009
19,039
10,955
10,096
12,908
23,467
EPS in Rs
10.43
7.62
6.35
7.49
10.94
8.34
6.11
8.7
15.05
8.66
7.98
10.22
18.55
Figures in ₹ Crores

Profit & Loss

  Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
5,71,508
6,28,043
6,90,914
7,23,606
7,84,628
8,45,966
8,89,970
9,77,772
Expenses
5,65,587
6,34,989
6,91,166
7,20,280
7,50,498
8,13,316
8,36,692
9,30,108
Operating Profit
5,920
-6,947
-252
3,326
34,130
32,651
53,278
47,664
OPM %
1%
-1%
0%
0%
4%
4%
6%
5%
Other Income
2,615
20,870
12,820
9,248
7,800
14,829
3,495
5,812
Interest
0
0
0
0
0
0
0
0
Depreciation
336
379
417
436
466
466
506
0
PBT
8,199
13,544
12,151
12,138
41,463
47,014
56,267
53,475
Tax %
68%
80%
76%
66%
13%
13%
14%
-7%
Net Profit
2,627
2,710
2,974
4,125
35,997
40,916
48,320
57,453
EPS in Rs
—
—
—
3.26
28.46
32.34
38.2
45.42
Div. Payout %
2%
2%
0%
23%
5%
15%
16%
11%
Figures in ₹ Crores

Balance Sheet

  Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
100
100
100
6,325
6,325
6,325
6,325
6,325
Reserves
710
902
6,784
5,012
39,908
76,422
1,20,901
1,70,280
Borrowings
2,69,401
2,53,414
4
1
0
0
0
1
Other Liabilities
31,57,039
32,45,419
38,22,637
42,42,719
45,32,258
52,33,300
55,33,342
57,71,950
Total Liabilities
34,27,249
34,99,834
38,29,524
42,54,058
45,78,491
53,16,047
56,60,568
59,48,556
Fixed Assets
25,194
28,216
17,723
17,770
20,473
20,667
21,330
4,757
CWIP
710
734
148
199
331
403
326
0
Investments
29,00,287
29,76,100
35,17,445
39,26,211
42,43,008
49,76,133
52,98,429
55,80,356
Other Assets
5,01,059
4,94,784
2,94,208
3,09,878
3,14,678
3,18,844
3,40,483
3,63,444
Total Assets
34,27,249
34,99,834
38,29,524
42,54,058
45,78,491
53,16,047
56,60,568
59,48,556
Figures in ₹ Crores

Cash Flow

  Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
13,274
54,367
80,602
-3,783
54,519
26,548
-9,145
-26,211
Investing
9,636
-40,415
1,48,447
12,531
-52,848
-25,695
40,832
34,708
Financing
-13,700
-18,664
-2,56,125
0
-949
-4,427
-3,794
-7,626
Net Cash Flow
9,210
-4,712
-27,077
8,748
722
-3,574
27,893
871
Free Cash Flow
11,281
53,447
86,765
-3,879
53,976
25,835
-9,860
-27,181
CFO/OP
500
-908
-27,549
108
143
64
-18
-43
Figures in ₹ Crores

Ratios

  Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
0
0
0
0
0
0
0
0
Cash Conversion Cycle
0
0
0
0
0
0
0
0
Working Capital Days
78
63
35
42
43
39
38
45
ROCE %
—
5%
9%
131%
143%
73%
53%
35%

Shareholding Pattern

As of Jun 2026
Promoters 96.50%
Public 1.74%
DIIs 1.08%
Others 0.36%
FIIs 0.32%
Total 100.00%
  Feb 2022May 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
100.00%
96.50%
96.50%
96.50%
96.50%
96.50%
96.50%
96.50%
96.50%
96.50%
96.50%
96.50%
96.50%
96.50%
96.50%
96.50%
96.50%
96.50%
96.50%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.08%
0.10%
0.06%
0.14%
0.19%
0.15%
0.07%
0.10%
0.11%
0.12%
0.20%
0.31%
0.32%
DIIs
0.00%
1.00%
0.87%
0.91%
0.92%
0.90%
0.83%
0.85%
1.00%
0.86%
0.94%
1.17%
1.27%
1.28%
1.37%
1.36%
1.34%
1.28%
1.08%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
0.00%
1.72%
1.95%
2.00%
2.01%
2.14%
2.17%
2.11%
1.97%
2.03%
1.93%
1.80%
1.81%
1.79%
1.68%
1.66%
1.63%
1.58%
1.74%
Others
0.00%
0.78%
0.68%
0.59%
0.58%
0.47%
0.41%
0.45%
0.46%
0.46%
0.44%
0.38%
0.35%
0.34%
0.34%
0.36%
0.33%
0.33%
0.36%
No. of Shareholders
0
1
40,07,530
37,89,050
36,03,680
33,78,800
32,81,540
31,34,540
29,36,740
27,16,180
25,63,690
23,98,130
23,75,400
23,71,840
22,77,180
22,27,970
21,55,420
21,11,770
21,51,420

Documents

Frequently Asked Questions about Life Insurance Corporation of India

What does Life Insurance Corporation of India do?
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, ter...
Where is Life Insurance Corporation of India (LICI) listed?
Life Insurance Corporation of India is listed on the Indian stock exchanges. It is listed on NSE: LICI and BSE: 543526. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Life Insurance Corporation of India belong to?
Life Insurance Corporation of India operates in the Financial Services sector within the Insurance industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Life Insurance Corporation of India?
Life Insurance Corporation of India has a market capitalisation of approximately ₹538447.05 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Life Insurance Corporation of India?
The Price-to-Earnings (PE) ratio of Life Insurance Corporation of India is 9.32. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Life Insurance Corporation of India?
Over the past 52 weeks, Life Insurance Corporation of India has traded between a low of ₹360.75 and a high of ₹490. This range helps investors understand the stock's price volatility and recent trading levels.
Does Life Insurance Corporation of India pay dividends?
Yes, Life Insurance Corporation of India has a dividend yield of 2.34%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Life Insurance Corporation of India?
Life Insurance Corporation of India has a Return on Equity (ROE) of 49.36%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Life Insurance Corporation of India on Tapetide?
On Tapetide, you can view Life Insurance Corporation of India's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

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]

Website licindia.in
Listed 2022-05-17
Face Value ₹ 10
Issued Size 6,32,49,97,701

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