SBI Life Insurance
SBI Life Insurance
Insurance F&OKey Fundamentals
LargecapLife InsuranceInsuranceTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
2- Company is almost debt free.
- Company is expected to give good quarter
Weaknesses
5- Stock is trading at 8.58 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.1,991 Cr.
- Dividend payout has been low at 12.2% of profits over last 3 years
Growth Rate
AI Analysis — Bull vs Bear
SBI Life Insurance has a market capitalisation of about Rs 1,75,274 Cr and trades at a P/E of 67.8x and a P/B of 8.77x, with a steady ROE of 14-15% across 3-, 5- and 10-year periods and a nearly debt-free balance sheet. Profit has compounded at 11-13% over 3-10 years, but revenue growth has slowed to 7% over 5 years and -1% on a TTM basis. The stock has returned -3% over 1 year and 7% CAGR over 5 years, and the dividend yield is 0.15%.
- ROE has held in a narrow 14-15% band across the last year, 3 years, 5 years and 10 years. Return generation looks durable through different market and rate cycles.
- Profit has compounded at 13% over 3 years and 11% over both 5 and 10 years. Earnings growth has run ahead of 5-year revenue growth of 7%, which suggests better profitability or operating leverage.
- TTM profit grew 5% even though TTM revenue fell 1%. Bottom-line growth continued despite a soft top line, though for a life insurer reported revenue also includes investment income that moves with markets.
- The company is almost debt free. That limits balance-sheet leverage risk beyond its core insurance liabilities and supports capital flexibility for a business with a market cap of about Rs 1,75,274 Cr.
- Revenue has compounded at 19% over 10 years and 12% over 3 years. The long-run and recent growth record is well above the weaker 5-year figure of 7%.
- A payout of only 12.2% of profits over 3 years means about 88% of earnings are retained. That capital can support solvency and new-business growth in a capital-hungry sector.
- The stock has compounded at 10% over 3 years, showing positive medium-term returns despite the -3% move over the last year.
- The company is flagged as expected to deliver a good upcoming quarter, which could help recover from the -1% TTM revenue trend.
- The stock trades at a P/E of 67.8x, which implies profits of roughly Rs 2,585 Cr against a Rs 1,75,274 Cr market cap. That valuation leaves little room for error when profit growth is 5% TTM and 11% over 5 years.
- P/B stands at about 8.7-8.8x (8.69x-8.77x across sources) while ROE is only 14%. Investors are paying a large premium to book for mid-teens returns on equity.
- Revenue grew just 6.52% a year over 5 years and fell 1% on a TTM basis, a clear slowdown from 19% 10-year growth.
- Earnings include other income of Rs 1,991 Cr. That is large next to implied profits of about Rs 2,585 Cr, so the quality and repeatability of reported earnings deserves scrutiny.
- The tax rate is flagged as low. Life insurers often have structurally lower effective tax rates, but any regulatory change to taxing policyholder or shareholder surplus could hurt reported profit growth, which is currently 5% TTM.
- Dividend payout averaged just 12.2% of profits over 3 years, and the dividend yield is 0.15%. The stock offers almost no income return.
- The stock returned -3% over 1 year and 7% CAGR over 5 years. The 5-year return is below the company's 11% 5-year profit CAGR, which points to valuation de-rating or subdued sentiment.
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- ₹1.13 crore GST demand Sep 25
SBI Life got a ₹1.13 crore demand under the RGST Act because its ITC claims in GSTR-3B were higher than GSTR-2B for Apr-Aug 2025. The total is ₹96.13 lakh tax, ₹7.25 lakh interest and ₹9.61 lakh penalty. The company plans to appeal before the Appellate Tribunal.
- Active institutional investor outreach Sep 8
SBI Life set an analyst and investor meeting for September 11. It also disclosed a September 2026 schedule of events hosted by UBS, Jefferies and J.P. Morgan, which shows ongoing engagement with institutional investors.
- ₹22.27 crore block trade Sep 24
About 1,24,993 shares changed hands on BSE at ₹1,782.00 each, worth ₹22.27 crore in total. This was a real-time large-trade signal. BSE has not yet confirmed it in its official disclosures.
- New independent director appointed Sep 22
Nihar Niranjan Jambusaria joined as an Additional Independent Director for a three-year term starting September 22, 2026.
- Joint auditors reappointed for FY27 Sep 9
M/s. K S Aiyar & Co. and M/s. J Singh & Associates were reappointed as Joint Statutory Auditors for FY2026-27 after C&AG approval, so auditor oversight stays the same.
TL;DR: Most of SBI Life's recent news is routine governance and compliance: a board appointment, auditor reappointment and investor meetings with UBS, Jefferies and J.P. Morgan. The only headwind is a ₹1.13 crore GST demand, which is very small for a company this size, and SBI Life plans to appeal it. The ₹22.27 crore block trade at ₹1,782 shows institutional activity, but it doesn't clearly point up or down. The overall picture is stable, and investors should look to the September investor meetings and coming quarterly numbers on premium growth and VNB margins for the next signals.
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 | 27,895 | 28,805 | 39,033 | 36,255 | 34,654 | 40,302 | 18,862 | 23,071 | 38,996 | 23,115 | 46,133 | 4,071 | 46,337 |
| Expenses | 27,471 | 28,392 | 38,681 | 37,043 | 34,060 | 39,696 | 18,266 | 23,520 | 38,333 | 22,600 | 45,517 | 5,117 | 45,579 |
| Operating Profit | 424 | 413 | 352 | -788 | 594 | 606 | 596 | -449 | 664 | 516 | 615 | -1,046 | 757 |
| OPM % | 1.5% | 1.4% | 0.9% | -2.2% | 1.7% | 1.5% | 3.2% | -1.9% | 1.7% | 2.2% | 1.3% | -26% | 1.6% |
| Other Income | 9 | 12 | 18 | 1,639 | 3 | -4 | -3 | 1,350 | -8 | 16 | 27 | 1,913 | 36 |
| 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 | 433 | 424 | 370 | 851 | 597 | 601 | 594 | 901 | 656 | 532 | 642 | 867 | 793 |
| Tax % | 12% | 10% | 13% | 5% | 13% | 12% | 7% | 10% | 9% | 7% | 10% | 7% | 9% |
| Net Profit | 381 | 380 | 322 | 811 | 520 | 529 | 551 | 814 | 594 | 495 | 577 | 805 | 725 |
| EPS in Rs | 3.81 | 3.8 | 3.21 | 8.1 | 5.19 | 5.28 | 5.5 | 8.12 | 5.93 | 4.93 | 5.75 | 8.02 | 7.23 |
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 | 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 | 1,19,656 |
| Expenses | 22,505 | 18,404 | 29,479 | 32,736 | 43,130 | 42,447 | 81,040 | 82,254 | 78,713 | 1,29,884 | 1,15,469 | 1,11,451 | 1,18,813 |
| Operating Profit | 794 | 920 | 1,068 | 1,332 | 1,474 | 1,351 | 872 | 730 | 1,923 | 2,104 | 1,420 | 864 | 843 |
| OPM % | 3.4% | 4.8% | 3.5% | 3.9% | 3.3% | 3.1% | 1.1% | 0.9% | 2.4% | 1.6% | 1.2% | 0.8% | 0.7% |
| Other Income | 183 | 129 | 139 | 156 | 266 | 529 | 867 | 1,032 | 51 | 50 | 1,357 | 1,948 | 1,991 |
| Interest | 4 | 5 | 5 | 6 | 8 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 34 | 37 | 48 | 59 | 92 | 89 | 99 | 75 | 68 | 76 | 84 | 115 | 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 | 2,834 |
| 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 | 2,601 |
| 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 | 25.93 |
| Div. Payout % | 15% | 14% | 16% | 17% | 15% | 0% | 17% | 13% | 15% | 14% | 11% | 11% | — |
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 | 1,000 | 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 | 647 |
| CWIP | 7 | 146 | 31 | 70 | 32 | 13 | 1 | 3 | 1 | 6 | 10 | 41 |
| 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
| 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 | 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 | 1,870 | 4,112 |
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 | 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% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view SBI Life Insurance insights
49 extracted metrics + investor summaries across FY13–FY27.
Documents
Frequently Asked Questions about SBI Life Insurance
What does SBI Life Insurance Company Ltd do?
Where is SBI Life Insurance Company Ltd (SBILIFE) listed?
Which sector does SBI Life Insurance Company Ltd belong to?
What is the market capitalisation of SBI Life Insurance Company Ltd?
What is the PE ratio of SBI Life Insurance Company Ltd?
What is the 52-week high and low of SBI Life Insurance Company Ltd?
Does SBI Life Insurance Company Ltd pay dividends?
What is the Return on Equity (ROE) of SBI Life Insurance Company Ltd?
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]
For AI agents and developers
Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/SBILIFE.md for SBI Life Insurance Company Ltd: company profile, latest price, key fundamentals, the Tapetide Score, growth rates, quarterly and annual financial statements, shareholding pattern, technical indicators, analyst ratings and exchange filings.
Append .md to any Tapetide URL for the
same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live,
structured queries instead of documents, use our MCP server.