ICICI Prudential Life Insurance Company Ltd

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ICICI Prudential Life Insurance Company Ltd

₹ 591 0.17%
18 May 12:50 p.m.
iciciprulife.com BSE: 540133 NSE: ICICIPRULI
About

ICICI Prudential Life Insurance Company Ltd carries on business of providing life insurance, pensions and health insurance products to individuals and groups. The business is conducted in participating, non-participating and unit linked lines of business. These products are distributed through individual agents, corporate agents, banks, brokers, sales force and company's website.[1]

It is promoted by ICICI Bank and Prudential Corporation :-

ICICI Bank (51% stake)[2] - The company is a part of ICICI Bank Ltd which is the 2nd largest private bank in India. It offers a diversified range of products and services to retail, SME and corporate customers.[3]

Prudential Plc (22% stake) - It is a British multinational insurance company based in London, England. It is the largest UK life insurer in Asia with presence in India, China, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines and other Asian countries. It is also present in African subcontinent in Nigeria, Ghana, Togo and other countries.[4]

Key Points

Ratios FY21
Solvency Ratio - 217%
Claim Settlement Ratio - 98%[1]
Cost Ratio - 15%[2]
Commission Ratio - 4.2%
Net Retention Ratio - 98%[3]
VNB Margin - 25%[4]
Persistency Ratio (13 months) - 87%
Persistency Ratio (61 months) - 60%[1]

Website BSE NSE
  • Market Cap ₹ 85,207 Cr.
  • Current Price ₹ 591
  • High / Low ₹ 641 / 422
  • Stock P/E 96.0
  • Book Value ₹ 76.4
  • Dividend Yield 0.10 %
  • ROCE 9.08 %
  • ROE 8.42 %
  • Face Value ₹ 10.0
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Pros

  • Company is expected to give good quarter

Cons

  • Stock is trading at 7.67 times its book value
  • Company has a low return on equity of 8.37% over last 3 years.
  • Earnings include an other income of Rs.2,012 Cr.
  • Dividend payout has been low at 10.3% of profits over last 3 years

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Insurance Industry: Finance & Investments

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
19,281 16,211 23,161 9,929 13,002 -1,612 22,604 17,425 10,983 23,383 17,387 26,429 22,481
19,724 17,339 22,958 9,626 13,698 -1,486 22,866 17,499 11,395 23,657 17,676 26,578 22,748
Operating Profit -443 -1,128 202 303 -696 -126 -262 -74 -413 -275 -289 -150 -268
OPM % -2% -7% 1% 3% -5% -1% -0% -4% -1% -2% -1% -1%
616 912 298 55 1,010 326 504 349 776 492 566 416 538
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
Profit before tax 173 -216 501 358 314 200 242 275 364 217 277 266 271
Tax % 63% 14% 11% 13% 41% 22% 18% 20% 35% 5% 12% 15% 36%
64 -186 445 311 185 156 199 221 235 207 244 227 174
EPS in Rs 0.44 -1.29 3.09 2.16 1.28 1.08 1.39 1.53 1.63 1.44 1.70 1.58 1.21
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
20,023 21,886 34,451 20,847 37,814 38,830 41,460 21,022 83,180 62,302 49,400 89,679
19,278 20,380 32,795 19,005 36,007 37,058 40,695 21,339 83,565 63,555 50,191 90,624
Operating Profit 745 1,505 1,656 1,842 1,807 1,772 765 -317 -385 -1,252 -791 -945
OPM % 4% 7% 5% 9% 5% 5% 2% -2% -0% -2% -2% -1%
900 129 43 0 130 132 591 1,578 1,668 2,276 1,955 2,012
Interest 14 15 17 0 15 20 23 0 0 0 0 0
Depreciation 41 47 40 0 58 44 57 61 60 67 84 0
Profit before tax 1,591 1,573 1,642 1,842 1,864 1,840 1,276 1,200 1,223 957 1,081 1,067
Tax % 5% 1% 0% 10% 10% 12% 11% 11% 22% 21% 25% 17%
1,516 1,562 1,640 1,650 1,682 1,620 1,141 1,069 960 754 811 888
EPS in Rs 10.61 10.93 11.46 11.52 11.72 11.28 7.94 7.44 6.69 5.25 5.64 6.17
Dividend Payout % 32% 70% 51% 73% 63% 59% 40% 11% 30% 10% 11% 10%
Compounded Sales Growth
10 Years: 15%
5 Years: 17%
3 Years: 3%
TTM: 82%
Compounded Profit Growth
10 Years: -5%
5 Years: -5%
3 Years: -3%
TTM: 10%
Stock Price CAGR
10 Years: %
5 Years: 11%
3 Years: 3%
1 Year: 39%
Return on Equity
10 Years: 17%
5 Years: 10%
3 Years: 8%
Last Year: 8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 1,429 1,429 1,432 1,432 1,435 1,436 1,436 1,436 1,436 1,437 1,439 1,441
Reserves 2,532 2,955 3,834 3,892 4,973 5,141 5,440 5,783 7,683 7,726 8,653 9,568
0 0 0 1,029 0 0 0 0 1,200 1,200 1,200 1,200
71,260 77,090 95,950 98,413 118,334 135,245 156,215 148,817 206,909 234,077 244,555 286,792
Total Liabilities 75,220 81,474 101,216 104,766 124,743 141,821 163,090 156,035 217,228 244,440 255,847 299,000
165 197 209 212 207 404 463 932 911 916 968 718
CWIP 7 5 6 7 7 18 13 20 22 54 117 0
Investments 73,717 80,102 99,492 103,027 121,586 138,540 159,009 150,781 211,736 237,625 247,731 289,736
1,331 1,171 1,509 1,520 2,943 2,859 3,606 4,301 4,559 5,845 7,031 8,546
Total Assets 75,220 81,474 101,216 104,766 124,743 141,821 163,090 156,035 217,228 244,440 255,847 299,000

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-2,640 -2,381 528 3,636 4,132 5,693 11,381 8,600 7,320 1,831 88 -7,305
1,563 6,004 -1,820 25 -699 -5,392 -7,563 -10,802 -5,090 -815 -1,147 7,414
-514 -1,091 -966 -1,442 -994 -1,188 -843 -405 1,205 -319 -112 -88
Net Cash Flow -1,591 2,532 -2,257 2,219 2,439 -887 2,975 -2,608 3,434 696 -1,172 21

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 0 0 0 3 0 0 0 0 0 0 0 0
Inventory Days
Days Payable
Cash Conversion Cycle 0 0 0 3 0 0 0 0 0 0 0 0
Working Capital Days -19 -17 -10 -16 -2 -9 -9 -5 -2 -6 -5 2
ROCE % 46% 38% 34% 32% 29% 29% 19% 17% 14% 9% 10%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
73.45% 73.42% 73.41% 73.41% 73.40% 73.34% 73.34% 73.34% 73.33% 73.30% 73.27% 73.24%
17.17% 17.17% 16.92% 16.35% 16.13% 16.63% 15.41% 15.20% 15.43% 15.51% 14.73% 13.35%
4.11% 4.14% 4.26% 4.74% 5.09% 5.02% 5.93% 6.14% 6.32% 6.37% 6.92% 8.54%
5.27% 5.27% 5.40% 5.50% 5.38% 4.99% 5.31% 5.30% 4.92% 4.81% 5.06% 4.85%
No. of Shareholders 3,39,6543,44,1863,63,0173,79,9813,73,9533,65,9413,84,2973,82,9443,62,3423,52,3953,58,7593,41,039

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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