SBI Life Insurance Company Ltd
SBILIFE NSE
SBI Life Insurance Company Ltd
Financial Services F&ONSE: SBILIFE BSE: 540719 Insurance
SBI Life Insurance Company Ltd is engaged in the business of life insurance and annuity. It was started as a Joint-venture between State Bank of India and BNP Paribas Cardif S.A.[1]
AI Verdict: HOLD Confidence: 5%
SBI Life trades at a demanding PE of 73.3x and 9.49x book value with only 14% ROE, making valuation stretched despite strong analyst consensus. The debt-free balance sheet and consistent 11-13% profit CAGR provide stability, but poor recent sales growth of -4% TTM and low dividend yield of 0.15% limit near-term upside.
Key Fundamentals
LargecapLife InsuranceInsuranceMarket Cap
1.8L Cr
Volatility
Moderate
P/E Ratio
70.84
EBITDA
₹-11,610 Cr
Return on Equity
12.7%
Debt to Equity
0
Book Value
₹190.25
EPS
₹20.29
52W High
₹2,132
52W Low
₹1,700.4
Technical Indicators
Key Insights
Strengths
2- Company is almost debt free.
- Company is expected to give good quarter
Weaknesses
5- Stock is trading at 9.29 times its book value
- The company has delivered a poor sales growth of 6.52% over past five years.
- Tax rate seems low
- Earnings include an other income of Rs.1,948 Cr.
- Dividend payout has been low at 12.2% of profits over last 3 years
Growth Rate
Revenue Growth
-15.47% ↗
Net Income Growth
2.36% ↘
Cash Flow Change
-12.28% ↘
ROE
11.89% ↗
ROCE
12.00% ↗
EBITDA Margin (Avg.)
-584.68% ↘
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 1d agoHOLD
Risk medium
SBI Life trades at a demanding PE of 73.3x and 9.49x book value with only 14% ROE, making valuation stretched despite strong analyst consensus. The debt-free balance sheet and consistent 11-13% profit CAGR provide stability, but poor recent sales growth of -4% TTM and low dividend yield of 0.15% limit near-term upside.
Bull Case 8
- Unanimous analyst consensus with 100% buy ratings from all 35 analysts covering the stock
- Company is virtually debt-free, providing significant financial flexibility and resilience in volatile markets
- Consistent compounded profit growth of 13% over 3 years and 11% over 5 years demonstrates earnings stability
- Stable ROE of 14% maintained consistently over 3-year, 5-year, and last year periods showing predictable return generation
- Stock CAGR of 13% over 3 years and 12% over 5 years indicates sustained long-term wealth creation
- 10-year compounded sales growth of 19% reflects strong secular tailwind from underpenetrated life insurance market in India
- Market cap of Rs.1,81,917 Cr provides large-cap stability and institutional ownership comfort
- Company is expected to deliver a good upcoming quarter suggesting near-term positive catalyst
Bear Case 8
- PE ratio of 73.3x is extremely elevated, pricing in significant future growth that may not materialize given current slowdown
- Price-to-book of 9.49x is excessive even for asset-light insurance businesses, leaving limited margin of safety
- TTM sales growth has turned negative at -4%, a sharp deceleration from the 12% 3-year CAGR
- 5-year sales CAGR of only 6.52% is poor for a company commanding such premium valuations
- Dividend yield of just 0.15% with payout ratio of only 12.2% over 3 years offers negligible income return to shareholders
- Stock has delivered -1% return over the past 1 year, underperforming broader market indices significantly
- Earnings quality concern as other income of Rs.1,948 Cr forms a material component of reported profits
- Low effective tax rate raises sustainability questions about reported earnings quality
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 1d ago Headwinds 2
- First-year premiums drop 9.57% Jun 9
SBI Life reported first-year premiums of ₹26.68 billion in May, down 9.57% YoY, signaling reduced new policy uptake and a notable contraction in new business growth.
- President Operations & IT exits May 30
Mr. Durgadas G, President – Operations & IT, superannuated on May 31, 2026, creating a leadership gap in a critical function.
Positives 3
- Deputy CEO appointed May 29
SBI Life appointed Mr. Ramesh Venkateshamurthy as Deputy CEO effective May 29, 2026, strengthening the senior leadership bench.
- No encumbrance on promoter shares Jun 6
SBI confirmed zero encumbrance on its SBI Life Insurance shareholding for FY26 under SEBI takeover regulations, indicating clean promoter holding.
- Active institutional engagement May 30
SBI Life scheduled investor meetings at Morgan Stanley, Citi, ICICI Securities, and Jefferies conferences in June 2026, reflecting strong institutional interest.
Neutral 2
- ₹18 Cr block trade on NSE Jun 24
A block trade of ~1.03 lakh shares at ₹1,756.00 per share worth ₹18.08 crore was executed on NSE, indicating institutional portfolio rebalancing.
- ₹22 Cr block trade on NSE Jun 10
A block trade of ~1.26 lakh shares at ₹1,769.50 per share worth ₹22.38 crore was executed on NSE, typical of institutional participants managing positions.
TL;DR: SBI Life maintains strong institutional engagement and a clean promoter holding structure, but the 9.57% YoY decline in May first-year premiums is a near-term concern for new business momentum. Leadership transitions are underway with a new Deputy CEO offsetting a senior departure. The trend on premium growth needs monitoring over the next 1-2 months to determine whether May was an anomaly or the start of a slowdown.
Quarterly Results
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 21,296 | 27,895 | 28,805 | 39,033 | 36,255 | 34,654 | 40,302 | 18,862 | 23,071 | 38,996 | 23,115 | 46,133 | 4,071 |
| Expenses | 22,197 | 27,471 | 28,392 | 38,681 | 37,043 | 34,060 | 39,696 | 18,266 | 23,520 | 38,333 | 22,600 | 45,517 | 5,117 |
| Operating Profit | -901 | 424 | 413 | 352 | -788 | 594 | 606 | 596 | -449 | 664 | 516 | 615 | -1,046 |
| OPM % | -4% | 2% | 1% | 1% | -2% | 2% | 2% | 3% | -2% | 2% | 2% | 1% | -26% |
| Other Income | 1,723 | 9 | 12 | 18 | 1,639 | 3 | -4 | -3 | 1,350 | -8 | 16 | 27 | 1,913 |
| 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 | 822 | 433 | 424 | 370 | 851 | 597 | 601 | 594 | 901 | 656 | 532 | 642 | 867 |
| Tax % | 5% | 12% | 10% | 13% | 5% | 13% | 12% | 7% | 10% | 9% | 7% | 10% | 7% |
| Net Profit | 777 | 381 | 380 | 322 | 811 | 520 | 529 | 551 | 814 | 594 | 495 | 577 | 805 |
| EPS in Rs | 7.76 | 3.81 | 3.8 | 3.21 | 8.1 | 5.19 | 5.28 | 5.5 | 8.12 | 5.93 | 4.93 | 5.75 | 8.02 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 23,299 | 19,324 | 30,548 | 34,068 | 44,604 | 43,798 | 81,913 | 82,983 | 80,636 | 1,31,988 | 1,16,888 | 1,12,315 |
| Expenses | 22,505 | 18,404 | 29,479 | 32,736 | 43,130 | 42,447 | 81,040 | 82,254 | 78,713 | 1,29,884 | 1,14,112 | 1,11,566 |
| Operating Profit | 794 | 920 | 1,068 | 1,332 | 1,474 | 1,351 | 872 | 730 | 1,923 | 2,104 | 2,776 | 749 |
| OPM % | 3% | 5% | 4% | 4% | 3% | 3% | 1% | 1% | 2% | 2% | 2% | 1% |
| Other Income | 183 | 129 | 139 | 156 | 266 | 529 | 867 | 1,032 | 51 | 50 | 0 | 1,948 |
| Interest | 4 | 5 | 5 | 6 | 8 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 34 | 37 | 48 | 59 | 92 | 89 | 99 | 75 | 68 | 76 | 84 | 0 |
| PBT | 939 | 1,007 | 1,154 | 1,422 | 1,642 | 1,790 | 1,640 | 1,687 | 1,906 | 2,078 | 2,693 | 2,697 |
| Tax % | 13% | 16% | 17% | 19% | 19% | 21% | 11% | 11% | 10% | 9% | 10% | 8% |
| Net Profit | 815 | 844 | 955 | 1,150 | 1,327 | 1,422 | 1,456 | 1,506 | 1,721 | 1,894 | 2,413 | 2,470 |
| EPS in Rs | 8.15 | 8.44 | 9.55 | 11.5 | 13.27 | 14.22 | 14.56 | 15.05 | 17.19 | 18.91 | 24.08 | 24.63 |
| Div. Payout % | 15% | 14% | 16% | 17% | 15% | 0% | 17% | 13% | 15% | 14% | 11% | 11% |
Balance Sheet
| 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 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,001 | 1,001 | 1,002 | 1,003 |
| Reserves | 3,056 | 3,733 | 4,552 | 5,528 | 6,576 | 7,743 | 9,400 | 10,622 | 12,017 | 13,907 | 15,983 | 18,083 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 70,064 | 78,696 | 96,687 | 1,15,193 | 1,39,157 | 1,56,837 | 2,16,430 | 2,61,715 | 3,01,582 | 3,83,369 | 4,40,110 | 4,80,960 |
| Total Liabilities | 74,121 | 83,429 | 1,02,240 | 1,21,720 | 1,46,734 | 1,65,580 | 2,26,830 | 2,73,337 | 3,14,599 | 3,98,277 | 4,57,095 | 5,00,046 |
| Fixed Assets | 292 | 301 | 507 | 511 | 563 | 568 | 564 | 919 | 520 | 551 | 580 | 688 |
| CWIP | 7 | 146 | 31 | 70 | 32 | 13 | 1 | 3 | 1 | 6 | 10 | 0 |
| Investments | 69,385 | 77,843 | 95,830 | 1,14,436 | 1,39,325 | 1,58,813 | 2,18,756 | 2,64,437 | 3,04,334 | 3,85,590 | 4,47,467 | 4,86,367 |
| Other Assets | 4,437 | 5,139 | 5,871 | 6,703 | 6,814 | 6,186 | 7,509 | 7,978 | 9,743 | 12,130 | 9,038 | 12,991 |
| Total Assets | 74,121 | 83,429 | 1,02,240 | 1,21,720 | 1,46,734 | 1,65,580 | 2,26,830 | 2,73,337 | 3,14,599 | 3,98,277 | 4,57,095 | 5,00,046 |
Cash Flow
| 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 | 2,711 | 5,778 | 8,525 | 10,395 | 13,473 | 19,299 | 23,878 | 21,852 | 28,656 | 29,122 | 25,547 | 34,523 |
| Investing | -178 | -7,204 | -9,032 | -8,910 | -13,552 | -16,986 | -19,203 | -21,611 | -30,203 | -31,221 | -21,789 | -35,318 |
| Financing | -117 | -144 | -144 | -221 | -241 | -198 | 3 | -231 | -415 | -227 | -215 | -179 |
| Net Cash Flow | 2,416 | -1,570 | -651 | 1,264 | -321 | 2,114 | 4,677 | 10 | -1,962 | -2,327 | 3,543 | -974 |
| Free Cash Flow | 2,687 | 5,600 | 8,377 | 10,288 | 13,325 | 19,210 | 23,763 | 21,785 | 28,581 | 29,008 | 25,441 | 34,338 |
| CFO/OP | 341 | 628 | 798 | 780 | 955 | 1,473 | 2,802 | 3,094 | 1,532 | 1,426 | 956 | 4,745 |
Ratios
| 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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Conversion Cycle | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Working Capital Days | 0 | -6 | 3 | 3 | 4 | 11 | 1 | -3 | 1 | 4 | 2 | 4 |
| ROCE % | 25% | 23% | 23% | 24% | 22% | 22% | 17% | 15% | 15% | 15% | 17% | 15% |
Documents
1
Intimation Under Regulation 30 Read With Para A Of Part A Of Schedule III Of The SEBI (LODR) Regulations, 2015
24 Apr - Appeal order confirms FY2021-22 GST demand of Rs. 6.19 lakh plus interest and penalty. 24 Apr - Appeal order confirms FY2021-22 GST demand of Rs. 6.19 lakh plus interest and penalty.
2
Announcement under Regulation 30 (LODR)-Press Release / Media Release (Revised)
22 Apr - Revised FY26 investor presentation issued; Slide 37 sensitivity analysis corrected. 22 Apr - Revised FY26 investor presentation issued; Slide 37 sensitivity analysis corrected.
3
Audio Recording - Earnings Calls For Q4 Of FY 2025-26
22 Apr - SBI Life hosted Q4 FY26 earnings call audio recording on its website. 22 Apr - SBI Life hosted Q4 FY26 earnings call audio recording on its website.
4
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
28 Apr - Transcript of the earnings call held on April 22, 2026. 28 Apr - Transcript of the earnings call held on April 22, 2026.
5
Intimation Under Regulation 30 Read With Para A Of Part A Of Schedule III Of The SEBI (LODR) Regulations, 2015
4h - Appeal order confirms FY2021-22 GST demand of Rs. 6.19 lakh plus interest and penalty. 4h - Appeal order confirms FY2021-22 GST demand of Rs. 6.19 lakh plus interest and penalty.
Frequently Asked Questions about SBI Life Insurance Company Ltd
What does SBI Life Insurance Company Ltd do?
SBI Life Insurance Company Ltd is engaged in the business of life insurance and annuity. It was started as a Joint-venture between State Bank of India and BNP Paribas Cardif S.A.[1]
Where is SBI Life Insurance Company Ltd (SBILIFE) listed?
SBI Life Insurance Company Ltd is listed on the Indian stock exchanges. It is listed on NSE: SBILIFE and BSE: 540719. You can view its live share price, financials, and ratios on Tapetide.
Which sector does SBI Life Insurance Company Ltd belong to?
SBI Life Insurance Company Ltd 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 SBI Life Insurance Company Ltd?
SBI Life Insurance Company Ltd has a market capitalisation of approximately ₹175638.27 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of SBI Life Insurance Company Ltd?
The Price-to-Earnings (PE) ratio of SBI Life Insurance Company Ltd is 70.84. 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 SBI Life Insurance Company Ltd?
Over the past 52 weeks, SBI Life Insurance Company Ltd has traded between a low of ₹1,700.4 and a high of ₹2,132. This range helps investors understand the stock's price volatility and recent trading levels.
Does SBI Life Insurance Company Ltd pay dividends?
Yes, SBI Life Insurance Company Ltd has a dividend yield of 0.15%. 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 SBI Life Insurance Company Ltd?
SBI Life Insurance Company Ltd has a Return on Equity (ROE) of 12.70%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research SBI Life Insurance Company Ltd on Tapetide?
On Tapetide, you can view SBI Life Insurance Company Ltd'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
SBI Life Insurance Company Ltd is engaged in the business of life insurance and annuity. It was started as a Joint-venture between State Bank of India and BNP Paribas Cardif S.A.[1]
Website sbilife.co.in
CEO Mr. Amit Jhingran
Employees 25,672
Listed 2017-10-03
Face Value ₹ 10
Issued Size 1,00,28,29,838