Life Insurance Corporation of India logo

Life Insurance Corporation of India

LICI NSE

Key Fundamentals

LargecapLife InsuranceInsurance
Market Cap
5.2L Cr
Volatility
Moderate
P/E Ratio
8.64
EBITDA
₹55,563 Cr
Return on Equity
32.48%
Debt to Equity
0
Book Value
₹140.36
EPS
₹66.13
52W High
₹468.48
52W Low
₹360.75

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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34 extracted metrics + investor summaries across FY19–FY26.

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Tapetide Score

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Technical Indicators

Key Insights

Strengths

1
  • Company has a good return on equity (ROE) track record: 3 Years ROE 45.6%

Weaknesses

1
  • The company has delivered a poor sales growth of 7.19% over past five years.

Growth Rate

Revenue Growth
10.23% ↗
Net Income Growth
18.90% ↗
Cash Flow Change
-169.65% ↘
ROE
-14.30% ↗
ROCE
12.64% ↗
EBITDA Margin (Avg.)
-15.13% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk medium

Life Insurance Corporation of India trades at a PE of 8.7x with a market cap of ₹5.18 lakh crore, showing strong profitability growth of 23% TTM but modest revenue growth of 7% over five years. The company demonstrates a high 3-year ROE of 45.6% while its stock has delivered a negative 7% return over the past year.

Bull Case 8
  • Exceptionally high 3-year average ROE of 45.6%, indicating strong capital efficiency for a life insurer of this scale
  • Compounded profit growth of 23% TTM and 17% over 3 years demonstrates accelerating earnings momentum
  • PE ratio of 8.7x is significantly below the broader market average and many private life insurance peers trading at 50-80x, suggesting undemanding valuations
  • Market cap of ₹5.18 lakh crore reflects dominant market positioning as India's largest life insurer with unmatched distribution reach across 2,000+ branch offices
  • Dividend yield of 2.43% provides meaningful income return, relatively attractive compared to most large-cap Indian equities
  • 5-year compounded profit CAGR of 81% shows a structural shift in profitability from historically low base levels
  • TTM sales growth of 10% shows improvement over the 5-year CAGR of 7%, indicating potential revenue acceleration
  • Price-to-book of 2.93x is modest for a franchise with 65%+ market share in India's underpenetrated life insurance market
Bear Case 8
  • Stock has declined 7% over the past 1 year, underperforming the broader Indian market which delivered positive returns in the same period
  • 5-year compounded sales growth of only 7.19% is weak for a company in a structurally growing insurance market, suggesting market share erosion to private players
  • ROE has declined from 52% (5-year average) to 38% last year, indicating a deteriorating trend in return on equity
  • 52-week high and low data unavailable, limiting visibility on recent price volatility and trading range
  • As a government-owned entity with 96.5% government holding post-IPO, corporate governance and capital allocation priorities may not always align with minority shareholders
  • 3-year stock CAGR of only 8% lags the broader Nifty returns significantly, reflecting persistent market skepticism on growth sustainability
  • Debt-to-equity and EPS data unavailable, making comprehensive financial health assessment difficult for investors
  • Insurance sector faces increasing competition from private insurers growing premiums at 15-20% annually versus LIC's 7-10%, threatening long-term dominance

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

AI News Digest

Anthropic anthropic claude-opus-4.6 17h ago
Headwinds 1
  • ₹10.9 Cr GST demand, penalty Jul 30

    LIC received a GST demand order for FY22-23 citing premature ITC availment. Total liability includes ₹99.10 Cr tax and ₹9.91 Cr penalty.

Positives 3
  • Q1FY27 VoNB surges 61% Aug 12

    VoNB jumped 61.32% YoY to ₹3,136 crore in Q1FY27, driven by strong Individual Non-Par growth and margin expansion. Indian Embedded Value rose to ₹7,89,185 crore.

  • Q1FY27 PAT up 23% Aug 6

    Net profit rose 22.81% YoY to ₹13,492 crore in Q1FY27, reflecting broad-based operational improvement alongside VNB surge.

  • ₹10 per share dividend declared Jul 27

    LIC shareholders approved ₹10 per share dividend and appointed Sanjay Lohiya as Government Nominee Director at the 5th AGM on July 27, 2026.

Neutral 8
  • Govt sells 6.5% stake via OFS Aug 11

    Government sold 6.5% LIC stake on Aug 4-5 via OFS raising ₹31,552 crore, reducing promoter holding to 90%. Strong demand led to full exercise of oversubscription option.

  • No further OFS for 3-4 years Aug 4

    Government assured investors no further LIC OFS for 3-4 years after meeting 50+ global and domestic funds to build confidence.

  • Distribution reform minimal impact Aug 6

    Senior LIC executive stated upcoming distribution reform rules are expected to have minimal impact on LIC and its agent-driven model.

  • Focus on protection products Aug 6

    LIC executive indicated company will increase share of protection products in portfolio in upcoming quarters, signaling strategic shift.

  • New Bima Jyoti plan launched Aug 7

    LIC launched New Bima Jyoti, a non-linked individual savings plan for the domestic market, effective August 10, 2026.

  • Multiple block trades ₹200+ Cr Aug 10

    Several institutional block trades totalling over ₹200 crore executed on NSE between Aug 6-10 at prices ranging ₹389-395 per share.

  • New CRO and CFO appointed Jul 28

    Varadarajan Muthuvenkataraman appointed CRO and Shatmanyu Shrivastava appointed CFO effective July 28, 2026, replacing outgoing independent directors.

  • Investor meets confirm no UPSI Aug 17

    LIC held investor meets on Aug 13 and Aug 17 (Motilal Oswal AGIC) confirming no unpublished price-sensitive information was shared.

TL;DR: LIC delivered a strong Q1FY27 with 23% PAT growth and 61% VoNB surge, signaling meaningful improvement in business quality and profitability. The government's 6.5% OFS was well-absorbed with assurance of no further dilution for 3-4 years, removing a key overhang. The only headwind is a minor ₹10.9 Cr GST demand. The trend is clearly improving with strategic focus shifting toward higher-margin protection and non-par products, which should support sustained VNB growth.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
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
2,39,866
Expenses
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
2,25,854
Operating Profit
9,994
8,475
9,239
1,564
9,773
6,588
11,934
21,514
10,474
9,492
12,366
11,222
14,012
OPM %
5%
4.2%
4.3%
0.7%
4.6%
2.9%
6%
9%
4.7%
3.9%
5%
4.1%
6%
Other Income
117
288
206
14,249
1,001
794
818
954
780
1,044
822
3,166
1,301
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
10,111
8,763
9,445
15,813
10,774
7,382
12,752
22,468
11,253
10,537
13,188
14,388
15,312
Tax %
14%
13%
15%
12%
15%
16%
14%
15%
15%
14%
15%
-63%
11%
Net Profit
9,634
8,032
9,434
13,842
10,527
7,723
11,009
19,039
10,955
10,096
12,908
23,467
13,584
EPS in Rs
7.62
6.35
7.49
10.94
8.34
6.11
8.7
15.05
8.66
7.98
10.22
18.55
10.74
Figures in ₹ Crores

Profit & Loss

  Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
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
9,94,088
Expenses
5,65,587
6,34,989
6,91,166
7,20,280
7,50,498
8,13,316
8,36,692
9,29,011
9,46,996
Operating Profit
5,920
-6,947
-252
3,326
34,130
32,651
53,278
48,761
47,092
OPM %
1%
-1.1%
0%
0.5%
4.3%
3.9%
6%
5%
4.7%
Other Income
2,615
20,870
12,820
9,248
7,800
14,829
3,495
5,421
6,333
Interest
0
0
0
0
0
0
0
0
0
Depreciation
336
379
417
436
466
466
506
707
0
PBT
8,199
13,544
12,151
12,138
41,463
47,014
56,267
53,475
53,425
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
60,055
EPS in Rs
—
—
—
3.26
28.46
32.34
38.2
45.42
47.49
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
0
Other Liabilities
31,57,039
32,45,419
38,22,637
42,42,719
45,32,258
52,33,300
55,33,342
57,71,951
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
28,335
CWIP
710
734
148
199
331
403
326
419
Investments
29,00,287
29,76,100
35,17,445
39,26,211
42,43,008
49,76,133
52,98,429
55,56,359
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
-9,721
-26,211
Investing
9,636
-40,415
1,48,447
12,531
-52,848
-25,695
41,408
36,693
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
2,856
Free Cash Flow
11,281
53,447
86,765
-3,879
53,976
25,835
-10,435
-27,181
CFO/OP
500
-908
-27,549
108
143
64
-19
-42
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 1.72%
DIIs 0.99%
FIIs 0.44%
Others 0.35%
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%
0.44%
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%
0.99%
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%
1.72%
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%
0.35%
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 Insurance sector within the Life 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 ₹522697.81 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 8.64. 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 ₹468.48. 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 2.44%. 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 32.48%. 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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