HDFC Life Insurance Company Ltd

HDFC Life Insurance Company Ltd

₹ 598 0.82%
14 Jun - close price
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

Started As Joint Venture
HDFC Life is incorporated as a JV between HDFC and Standard Life Aberdeen and is one of India's leading life insurance companies[1]

  • Market Cap 1,28,702 Cr.
  • Current Price 598
  • High / Low 711 / 511
  • Stock P/E 81.8
  • Book Value 68.2
  • Dividend Yield 0.33 %
  • ROCE 6.61 %
  • ROE 11.4 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 28.1%

Cons

  • Stock is trading at 8.78 times its book value
  • Tax rate seems low
  • Company has a low return on equity of 10.6% over last 3 years.
  • Earnings include an other income of Rs.525 Cr.
  • Promoter holding has decreased over last 3 years: -8.49%

* 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

Consolidated Figures in Rs. Crores / View Standalone

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
19,186 14,786 20,548 14,311 17,482 6,690 23,083 19,577 20,857 23,371 23,142 26,927 28,041
19,000 14,619 20,420 14,137 17,228 6,386 22,815 19,787 21,215 23,045 23,556 26,662 27,766
Operating Profit 185 166 128 174 253 304 268 -210 -358 326 -414 265 275
OPM % 1% 1% 1% 1% 1% 5% 1% -1% -2% 1% -2% 1% 1%
309 106 164 121 374 74 87 394 882 114 135 102 174
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 494 272 292 295 628 378 355 184 525 440 -279 367 450
Tax % 35% 1% 6% 7% 19% 4% 7% -72% 31% 5% 235% -0% 8%
319 270 276 275 506 361 329 316 362 417 378 368 412
EPS in Rs 1.58 1.33 1.36 1.36 2.40 1.71 1.53 1.47 1.68 1.94 1.76 1.71 1.91
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
14,060 17,166 27,215 18,141 30,647 32,260 38,855 29,380 71,528 67,126 70,207 101,482
13,535 16,561 26,341 17,187 29,674 31,186 37,640 28,239 70,294 66,348 70,127 101,029
Operating Profit 525 605 874 953 972 1,074 1,215 1,141 1,235 778 80 452
OPM % 4% 4% 3% 5% 3% 3% 3% 4% 2% 1% 0% 0%
28 241 79 108 139 282 136 369 445 766 1,437 525
Interest 15 11 -14 8 9 11 14 0 0 0 0 0
Depreciation 35 41 43 45 41 44 45 47 51 56 76 0
Profit before tax 502 794 924 1,008 1,061 1,300 1,291 1,463 1,629 1,487 1,441 977
Tax % 11% 9% 15% 19% 16% 15% 1% 11% 16% 11% 5% -61%
447 725 786 817 887 1,107 1,278 1,297 1,361 1,327 1,368 1,574
EPS in Rs 2.24 3.64 3.94 4.09 4.44 5.50 6.33 6.43 6.73 6.28 6.37 7.32
Dividend Payout % 0% 14% 18% 22% 25% 25% 26% 0% 30% 27% 30% 27%
Compounded Sales Growth
10 Years: 19%
5 Years: 21%
3 Years: 12%
TTM: 45%
Compounded Profit Growth
10 Years: 8%
5 Years: 6%
3 Years: 5%
TTM: 15%
Stock Price CAGR
10 Years: %
5 Years: 6%
3 Years: -5%
1 Year: -2%
Return on Equity
10 Years: 16%
5 Years: 13%
3 Years: 11%
Last Year: 11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 1,995 1,995 1,995 1,995 1,998 2,012 2,017 2,019 2,021 2,113 2,149 2,151
Reserves -658 -67 546 1,108 1,828 2,693 3,625 4,788 6,619 13,501 10,844 12,515
0 0 0 0 0 0 0 0 600 600 950 950
40,581 50,347 66,767 73,441 91,270 105,778 124,378 125,417 170,415 214,521 233,929 287,071
Total Liabilities 41,918 52,275 69,309 76,544 95,097 110,483 130,020 132,224 179,655 230,734 247,872 302,687
252 279 346 335 337 336 370 322 585 6,605 997 420
CWIP 29 10 6 12 16 5 10 8 14 20 31 0
Investments 40,404 50,527 67,024 74,144 91,723 106,590 124,958 127,256 173,564 216,551 238,197 292,284
1,232 1,458 1,932 2,053 3,020 3,551 4,682 4,637 5,493 7,559 8,647 9,982
Total Assets 41,918 52,275 69,309 76,544 95,097 110,483 130,020 132,224 179,655 230,734 247,872 302,687

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
4,459 5,687 6,230 6,739 9,868 7,388 9,703 5,943 6,883 10,721
-3,514 -3,962 -5,177 -4,421 -10,182 -7,789 -8,952 -801 -10,071 -13,617
-168 -212 -236 -196 -337 38 678 -238 1,985 -403
Net Cash Flow 777 1,513 817 2,122 -651 -364 1,429 4,904 -1,203 -3,299

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 0 0 0 2 0 0 0 0 0
Inventory Days
Days Payable
Cash Conversion Cycle 0 0 0 0 0 0 2 0 0 0 0 0
Working Capital Days -22 -11 -11 -27 -20 -25 -16 -17 -13 -11 -12 -8
ROCE % 49% 41% 36% 31% 31% 23% 24% 20% 12% 10%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
53.84% 53.81% 53.77% 51.53% 51.52% 50.32% 50.32% 50.31% 50.33% 50.39% 50.37% 50.37%
26.06% 30.12% 30.45% 26.31% 27.66% 28.81% 30.15% 29.85% 30.89% 30.53% 31.28% 30.03%
5.87% 6.67% 6.08% 7.81% 6.92% 6.88% 5.98% 6.42% 6.16% 6.87% 6.56% 7.93%
14.21% 9.38% 9.68% 14.32% 13.88% 13.97% 13.50% 13.36% 12.58% 12.18% 11.76% 11.64%
0.03% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03%
No. of Shareholders 8,08,2538,56,2089,15,07310,34,1249,98,77910,35,1939,92,97510,05,7029,26,1388,75,8778,44,7288,58,844

* 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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