HDFC Life Insurance Company Ltd

₹ 534 2.49%

01 Oct - close price

hdfclife.com BSE: 540777 NSE: HDFCLIFE F&O

About

HDFC Life Insurance Company is engaged in carrying on the business of life insurance. The Company offers a range of individual and group insurance solutions. The portfolio comprises of various insurance and investment products such as Protection, Pension, Savings,(Source : 202003 Annual Report Page No: 175)

Key Points

Parentage
HDFC Bank, the promoter group, holds 50.25% stake as of Q2 FY26. As India’s largest private sector bank by balance sheet size, HBL and its subsidiaries offer a wide array of financial services, including non-banking financial services, insurance, asset management, and broking. ^[1] ^[2] ^[3]

Website BSE NSE F&O

Market Cap ₹ 1,16,060 Cr.
Current Price ₹ 534
High / Low ₹ 788 / 509
Stock P/E 58.8
Book Value ₹ 89.8
Dividend Yield 0.39 %
ROCE 10.3 %
ROE 11.3 %
Face Value ₹ 10.0

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Pros

Company has been maintaining a healthy dividend payout of 25.4%

Cons

Stock is trading at 5.95 times its book value
The company has delivered a poor sales growth of 6.73% over past five years.
Tax rate seems low
Company has a low return on equity of 11.1% over last 3 years.
Earnings include an other income of Rs.768 Cr.

* 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

Financial Services Financial Services Insurance Life Insurance

Part of Nifty 50 BSE 500 BSE 100 BSE 200 BSE Dollex 200 Nifty 500 Nifty 100 BSE Dollex 100 Nifty Services Sector Nifty 200 Nifty Financial Services Nifty Low Volatility 50 Nifty 100 Equal Weight BSE Financial Services BSE SENSEX Next 50 BSE 100 ESG BSE 250 LargeMidCap Index BSE Diversified Financials Revenue Growth BSE Dividend Stability Index BSE Low Volatility Index Nifty 50 Equal Weight Nifty 100 Low Volatility 30 BSE 100 LargeCap TMC Index Nifty LargeMidcap 250 Nifty 500 Multicap 50:25:25 Nifty Financial Services 25/50 Nifty100 ESG Nifty Total Market BSE SENSEX Next 30 Nifty100 Enhanced ESG BSE Capital Markets & Insurance BSE 200 Equal Weight BSE Sensex Sixty 65:35 BSE Sensex Sixty Nifty Financial Services Ex-Bank Nifty500 Equal Weight Nifty Rural Nifty500 LargeMidSmall Equal-Cap Weighted BSE India 150 Nifty500 Low Volatility 50 BSE 1000 Nifty India FPI 150 BSE Insurance

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	23,340	23,097	26,886	27,992	26,891	28,449	17,235	24,111	29,381	20,548	29,312	19,727	33,545
	23,006	23,503	26,613	27,699	26,565	28,742	16,775	23,710	28,921	20,207	29,010	19,577	32,984
Operating Profit	334	-406	274	293	326	-293	460	401	460	341	302	150	561
OPM %	1.4%	-1.8%	1.0%	1.1%	1.2%	-1.0%	2.7%	1.7%	1.6%	1.7%	1.0%	0.8%	1.7%
	104	125	91	156	73	260	-49	100	140	128	145	383	112
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	438	-281	364	449	399	-33	411	501	601	469	447	532	674
Tax %	5%	-234%	-0%	8%	-20%	-1,408%	-1%	5%	9%	5%	6%	7%	9%
	415	377	365	412	478	433	415	477	546	447	421	496	611
EPS in Rs	1.93	1.75	1.70	1.91	2.22	2.01	1.93	2.21	2.54	2.07	1.95	2.30	2.81
Raw PDF

Upcoming result date: 15 October 2026

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	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
	27,213	18,138	30,642	32,246	38,360	29,351	71,447	65,402	70,081	101,316	96,687	98,968	103,132
	26,339	17,473	29,665	31,170	37,517	28,211	70,166	64,731	69,982	100,630	95,600	97,123	101,778
Operating Profit	874	665	977	1,076	843	1,140	1,282	671	100	686	1,087	1,845	1,354
OPM %	3.2%	3.7%	3.2%	3.3%	2.2%	3.9%	1.8%	1.0%	0.1%	0.7%	1.1%	1.9%	1.3%
	79	398	139	281	506	367	442	746	1,407	363	293	361	768
Interest	-14	8	9	11	14	0	45	0	0	0	0	0	0
Depreciation	43	45	41	44	45	46	51	52	75	78	102	158	0
Profit before tax	924	1,010	1,066	1,302	1,290	1,461	1,628	1,365	1,432	971	1,278	2,049	2,122
Tax %	15%	19%	16%	15%	1%	11%	16%	12%	5%	-62%	-41%	7%
	786	818	892	1,109	1,277	1,295	1,360	1,208	1,360	1,569	1,802	1,910	1,975
EPS in Rs	3.94	4.10	4.46	5.51	6.33	6.42	6.73	5.72	6.33	7.29	8.37	8.85	9.13
Dividend Payout %	18%	22%	25%	25%	26%	0%	30%	30%	30%	27%	25%	24%

Compounded Sales Growth
10 Years:	18%
5 Years:	7%
3 Years:	12%
TTM:	4%

Compounded Profit Growth
10 Years:	9%
5 Years:	7%
3 Years:	12%
TTM:	6%

Stock Price CAGR
10 Years:	%
5 Years:	-6%
3 Years:	-6%
1 Year:	-30%

Return on Equity
10 Years:	14%
5 Years:	11%
3 Years:	11%
Last Year:	11%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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	1,995	1,995	1,998	2,012	2,017	2,019	2,021	2,113	2,149	2,151	2,153	2,158
Reserves	547	1,113	1,840	2,707	3,638	4,781	6,617	13,373	10,837	12,501	13,973	15,538
	0	0	0	0	0	0	600	600	950	950	2,950	3,099
	66,767	73,440	91,267	105,762	124,350	125,362	170,344	194,303	233,985	286,905	330,058	369,224
Total Liabilities	69,309	76,549	95,106	110,481	130,005	132,162	179,582	210,389	247,922	302,507	349,133	390,019
	345	334	337	336	323	322	584	964	996	1,545	2,135	2,708
CWIP	6	12	16	5	10	8	13	19	30	27	109	138
Investments	67,025	74,230	91,738	106,603	124,972	127,226	173,582	203,530	238,136	291,064	334,638	373,089
	1,932	1,972	3,016	3,537	4,700	4,606	5,402	5,876	8,760	9,871	12,251	14,084
Total Assets	69,309	76,549	95,106	110,481	130,005	132,162	179,582	210,389	247,922	302,507	349,133	390,019

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	4,461	5,690	6,239	6,741	9,871	7,370	9,703	5,540	6,882	10,725	15,598	22,502
	-3,516	-4,045	-5,106	-4,423	-10,186	-7,782	-8,995	-1,402	-10,072	-13,632	-13,622	-23,753
	-168	-212	-236	-196	-337	38	678	-238	1,985	-403	1,607	-275
Net Cash Flow	777	1,433	897	2,122	-652	-374	1,386	3,900	-1,206	-3,310	3,584	-1,525
Free Cash Flow	4,354	5,658	6,191	6,708	9,828	7,334	9,644	5,486	6,797	10,594	15,306	22,224
CFO/OP	511%	856%	639%	626%	1,171%	671%	777%	855%	7,363%	1,360%	1,459%	1,230%

Ratios

Standalone / View Consolidated

	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	2	0	0	0	0	0	0	0
Inventory Days
Days Payable
Cash Conversion Cycle	0	0	0	0	2	0	0	0	0	0	0	0
Working Capital Days	-11	-27	-20	-25	-17	-17	-13	-12	-12	-8	-6	-6
ROCE %	41%	36%	31%	31%	25%	23%	21%	11%	10%	5%	7%	10%

Insights

In beta

Mar 2016

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13th Month Persistency
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61st Month Persistency
%

Individual APE (Annualized Premium Equivalent)
Rs crore

Number of Individual New Business Policies Sold
thousands

ULIP Share in Individual APE (Product Mix)
%

Number of Branches
count

Number of Agents / Financial Consultants
thousands

Individual WRP Market Share (Overall Industry)
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	50.39%	50.37%	50.37%	50.37%	50.34%	50.32%	50.32%	50.28%	50.25%	50.21%	50.21%	50.54%
	30.53%	31.28%	30.03%	26.63%	25.63%	25.14%	24.96%	24.75%	24.82%	24.27%	22.52%	19.27%
	6.87%	6.56%	7.93%	11.24%	13.25%	13.72%	14.10%	14.57%	14.59%	15.23%	17.25%	20.19%
	12.18%	11.76%	11.64%	11.74%	10.75%	10.76%	10.60%	10.37%	10.32%	10.25%	10.00%	9.98%
	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.02%
No. of Shareholders	8,75,877	8,44,728	8,58,844	8,92,355	7,83,844	7,91,447	7,71,949	7,38,630	7,26,959	7,07,141	6,91,649	7,05,326

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	80.93%	76.14%	63.69%	58.86%	51.53%	50.31%	50.37%	50.32%	50.21%	50.54%
	8.92%	10.52%	21.07%	25.67%	26.31%	29.85%	30.03%	24.96%	22.52%	19.27%
	2.41%	3.40%	6.08%	6.25%	7.81%	6.42%	7.93%	14.10%	17.25%	20.19%
	7.69%	9.92%	9.13%	9.20%	14.32%	13.36%	11.64%	10.60%	10.00%	9.98%
	0.04%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.02%
No. of Shareholders	3,40,297	3,99,373	5,30,777	7,42,196	10,34,124	10,05,702	8,58,844	7,71,949	6,91,649	7,05,326

* 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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