HDFC Life Insurance Company Ltd

₹ 753 0.30%

19 May 10:18 a.m.

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 Ltd (HBL), the promoter group, holds a 50.3% stake as of Q3 FY25. 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

Market Cap ₹ 1,62,099 Cr.
Current Price ₹ 753
High / Low ₹ 761 / 511
Stock P/E 89.5
Book Value ₹ 75.0
Dividend Yield 0.28 %
ROCE 7.43 %
ROE 11.8 %
Face Value ₹ 10.0

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Pros

Company has been maintaining a healthy dividend payout of 27.4%

Cons

Stock is trading at 10.0 times its book value
Tax rate seems low
Company has a low return on equity of 10.9% over last 3 years.
Earnings include an other income of Rs.463 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

Sector: Insurance Industry: Finance & Investments

Part of Nifty 50 BSE 500 BSE 100 BSE 200 Nifty 500 Nifty 100 Nifty Services Sector Nifty 200 Nifty Financial Services Nifty Low Volatility 50 Nifty 100 Equal Weight BSE Allcap BSE LargeCap BSE Financial Services BSE SENSEX Next 50 BSE 100 ESG Index (INR) BSE 250 LargeMidCap Index BSE Diversified Financials Revenue Growth Index (I BSE Low Volatility Index Nifty 50 Equal Weight BSE 100 LargeCap TMC Index Nifty LargeMidcap 250 Nifty 500 Multicap 50:25:25 Nifty Financial Services 25/50 Nifty100 ESG Nifty Total Market

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	17,482	6,690	23,083	19,577	20,857	23,371	23,142	26,927	28,041	26,934	28,497	17,300	24,191
	17,228	6,386	22,815	19,787	21,215	23,045	23,557	26,663	27,766	26,623	28,807	16,852	23,814
Operating Profit	253	304	268	-210	-358	326	-415	264	275	311	-310	448	377
OPM %	1%	5%	1%	-1%	-2%	1%	-2%	1%	1%	1%	-1%	3%	2%
	374	74	87	394	882	114	136	103	174	90	279	-29	124
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	628	378	355	184	525	440	-279	367	450	401	-30	419	500
Tax %	19%	4%	7%	-72%	31%	5%	-235%	-0%	8%	-20%	-1,541%	-1%	5%
	506	361	329	316	362	417	378	368	412	479	435	421	475
EPS in Rs	2.40	1.71	1.53	1.47	1.68	1.94	1.76	1.71	1.91	2.23	2.02	1.96	2.21
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	17,166	27,215	18,141	30,647	32,260	38,855	29,380	71,528	67,126	70,207	101,482	96,922
	16,561	26,341	17,187	29,674	31,186	37,640	28,239	70,294	66,348	70,127	100,951	96,095
Operating Profit	605	874	953	972	1,074	1,215	1,141	1,235	778	80	531	826
OPM %	4%	3%	5%	3%	3%	3%	4%	2%	1%	0%	1%	1%
	241	79	108	139	282	136	369	445	766	1,437	525	463
Interest	11	-14	8	9	11	14	0	0	0	0	0	0
Depreciation	41	43	45	41	44	45	47	51	56	76	79	0
Profit before tax	794	924	1,008	1,061	1,300	1,291	1,463	1,629	1,487	1,441	977	1,290
Tax %	9%	15%	19%	16%	15%	1%	11%	16%	11%	5%	-61%	-40%
	725	786	817	887	1,107	1,278	1,297	1,361	1,327	1,368	1,574	1,811
EPS in Rs	3.64	3.94	4.09	4.44	5.50	6.33	6.43	6.73	6.28	6.37	7.32	8.41
Dividend Payout %	14%	18%	22%	25%	25%	26%	0%	30%	27%	30%	27%	25%

Compounded Sales Growth
10 Years:	14%
5 Years:	27%
3 Years:	13%
TTM:	-4%

Compounded Profit Growth
10 Years:	9%
5 Years:	7%
3 Years:	11%
TTM:	15%

Stock Price CAGR
10 Years:	%
5 Years:	9%
3 Years:	11%
1 Year:	32%

Return on Equity
10 Years:	15%
5 Years:	12%
3 Years:	11%
Last Year:	12%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	1,995	1,995	1,995	1,998	2,012	2,017	2,019	2,021	2,113	2,149	2,151	2,153
Reserves	-67	546	1,108	1,828	2,693	3,625	4,788	6,619	13,501	10,844	12,515	14,002
	0	0	0	0	0	0	0	600	600	950	950	2,950
	50,347	66,767	73,441	91,270	105,778	124,378	125,417	170,415	214,521	234,126	287,071	330,307
Total Liabilities	52,275	69,309	76,544	95,097	110,483	130,020	132,224	179,655	230,734	248,069	302,687	349,412
	279	346	335	337	336	370	322	585	6,605	997	1,549	609
CWIP	10	6	12	16	5	10	8	14	20	31	28	0
Investments	50,527	67,024	74,144	91,723	106,590	124,958	127,256	173,564	216,551	238,197	291,128	336,399
	1,458	1,932	2,053	3,020	3,551	4,682	4,637	5,493	7,559	8,844	9,982	12,404
Total Assets	52,275	69,309	76,544	95,097	110,483	130,020	132,224	179,655	230,734	248,069	302,687	349,412

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	4,459	5,687	6,230	6,739	9,868	7,388	9,703	5,943	6,883	10,721	15,597
	-3,514	-3,962	-5,177	-4,421	-10,182	-7,789	-8,952	-801	-10,071	-13,614	-13,638
	-168	-212	-236	-196	-337	38	678	-238	1,985	-403	1,607
Net Cash Flow	777	1,513	817	2,122	-651	-364	1,429	4,904	-1,203	-3,296	3,566

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	0	0	0	0	0	2	0	0	0	0	0	0
Inventory Days
Days Payable
Cash Conversion Cycle	0	0	0	0	0	2	0	0	0	0	0	0
Working Capital Days	-11	-11	-27	-20	-25	-16	-17	-13	-11	-12	-8	-6
ROCE %	49%	41%	36%	31%	31%	23%	24%	20%	12%	10%	7%	7%

Shareholding Pattern

Numbers in percentages

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	51.52%	50.32%	50.32%	50.31%	50.33%	50.39%	50.37%	50.37%	50.37%	50.34%	50.32%	50.32%
	27.66%	28.81%	30.15%	29.85%	30.89%	30.53%	31.28%	30.03%	26.63%	25.63%	25.14%	24.96%
	6.92%	6.88%	5.98%	6.42%	6.16%	6.87%	6.56%	7.93%	11.24%	13.25%	13.72%	14.10%
	13.88%	13.97%	13.50%	13.36%	12.58%	12.18%	11.76%	11.64%	11.74%	10.75%	10.76%	10.60%
	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	9,98,779	10,35,193	9,92,975	10,05,702	9,26,138	8,75,877	8,44,728	8,58,844	8,92,355	7,83,844	7,91,447	7,71,949

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	80.93%	76.14%	63.69%	58.86%	51.53%	50.31%	50.37%	50.32%
	8.92%	10.52%	21.07%	25.67%	26.31%	29.85%	30.03%	24.96%
	2.41%	3.40%	6.08%	6.25%	7.81%	6.42%	7.93%	14.10%
	7.69%	9.92%	9.13%	9.20%	14.32%	13.36%	11.64%	10.60%
	0.04%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%
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

* 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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