ICICI Prudential Life Insurance Company Ltd

About

ICICI Prudential Life Insurance Co. carries on business of providing life insurance, pensions and health insurance products to individuals and groups. Riders providing additional benefits are offered under some of these products. The business is conducted in participating, non-participating and unit linked lines of businesses. These products are distributed through individual agents, corporate agents, banks, brokers, the Companys proprietary sales force and the Company website.(Source : 202003 Annual Report Page No: 192)

  • Market Cap 96,772 Cr.
  • Current Price 674
  • High / Low 724 / 398
  • Stock P/E 101
  • Book Value 59.1
  • Dividend Yield 0.30 %
  • ROCE 14.6 %
  • ROE 11.8 %
  • 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 26.77%

Cons

  • Stock is trading at 11.40 times its book value
  • Earnings include an other income of Rs.1668.46 Cr.

Peer comparison

Sector: Insurance Industry: Finance & Investments

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
7,899 8,972 8,669 15,895 8,343 8,143 12,875 -8,339 18,746 16,691 28,462 19,281
7,697 8,638 8,460 15,980 8,259 8,082 12,809 -7,751 18,851 16,640 28,410 19,724
Operating Profit 202 333 209 -85 84 60 66 -588 -105 51 52 -443
OPM % 3% 4% 2% -1% 1% 1% 1% -1% 0% 0% -2%
Other Income 113 -2 118 388 232 272 257 817 439 314 299 616
Interest 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
Profit before tax 315 332 327 303 316 332 323 229 334 365 351 173
Tax % 10% 9% 9% 14% 10% 9% 6% 22% 14% 17% 13% 63%
Net Profit 282 301 297 261 285 302 302 179 288 303 306 64
EPS in Rs 1.96 2.10 2.07 1.82 1.98 2.10 2.11 1.25 2.00 2.11 2.13 0.44

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
24,422 14,020 20,023 21,886 34,451 20,847 37,814 38,830 41,460 21,022 83,180
23,436 13,117 19,278 20,380 32,795 19,005 36,007 37,058 40,695 21,320 83,509
Operating Profit 985 904 745 1,505 1,656 1,842 1,807 1,772 765 -298 -330
OPM % 4% 6% 4% 7% 5% 9% 5% 5% 2% -1% -0%
Other Income 12 627 900 129 43 0 130 132 591 1,578 1,668
Interest 0 16 14 15 17 0 15 20 23 19 56
Depreciation 73 56 41 47 40 0 58 44 57 61 60
Profit before tax 925 1,459 1,591 1,573 1,642 1,842 1,864 1,840 1,276 1,200 1,223
Tax % 13% 5% 5% 1% 0% 10% 10% 12% 11% 11% 22%
Net Profit 808 1,386 1,516 1,562 1,640 1,650 1,682 1,620 1,141 1,069 960
EPS in Rs 5.65 9.70 10.61 10.93 11.46 11.52 11.72 11.28 7.94 7.44 6.69
Dividend Payout % 0% 30% 32% 70% 51% 73% 63% 59% 40% 11% 30%
Compounded Sales Growth
10 Years:13%
5 Years:32%
3 Years:29%
TTM:296%
Compounded Profit Growth
10 Years:2%
5 Years:-10%
3 Years:-16%
TTM:-10%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:25%
1 Year:62%
Return on Equity
10 Years:26%
5 Years:19%
3 Years:14%
Last Year:12%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
1,428 1,429 1,429 1,429 1,432 1,432 1,435 1,436 1,436 1,436 1,436
Reserves 656 1,553 2,532 2,955 3,832 3,642 4,973 5,141 5,440 5,783 7,683
Borrowings 0 0 0 0 0 1,029 0 0 0 0 1,200
66,986 68,641 71,260 77,090 95,952 98,663 118,334 135,245 156,215 148,817 206,909
Total Liabilities 69,071 71,623 75,220 81,474 101,216 104,766 124,743 141,821 163,090 156,035 217,228
282 176 165 197 209 212 207 404 463 457 435
CWIP 1 4 7 5 6 7 7 18 13 20 22
Investments 67,935 70,398 73,717 80,102 99,492 103,027 121,586 138,540 159,009 151,256 212,212
852 1,045 1,331 1,171 1,509 1,520 2,943 2,859 3,606 4,301 4,559
Total Assets 69,071 71,623 75,220 81,474 101,216 104,766 124,743 141,821 163,090 156,035 217,228

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
4,724 2,830 -2,640 -2,381 528 3,636 4,132 5,693 11,381 8,600 7,320
-5,770 -814 1,563 6,004 -1,820 25 -699 -5,392 -7,563 -10,802 -5,090
2 -362 -514 -1,091 -966 -1,442 -994 -1,188 -843 -405 1,205
Net Cash Flow -1,044 1,654 -1,591 2,532 -2,257 2,219 2,439 -887 2,975 -2,608 3,434

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 0 0 0 0 0 3 0 0 0 0 0
Inventory Days
Days Payable
Cash Conversion Cycle 0 0 0 0 0 3 0 0 0 0 0
Working Capital Days -19 -29 -19 -17 -10 -16 -2 -9 -9 -5 -2
ROCE % 58% 46% 38% 34% 32% 30% 29% 19% 17% 15%

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
78.71 78.69 74.98 74.98 74.98 74.98 74.98 73.48 73.48 73.48 73.48 73.45
8.86 8.56 10.08 11.48 12.12 13.30 13.34 15.06 15.78 16.28 16.51 17.17
4.37 4.61 6.54 6.33 6.71 5.52 5.54 5.23 4.63 4.71 4.29 4.11
8.07 8.13 8.40 7.21 6.19 6.20 6.14 6.23 6.11 5.53 5.72 5.27

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