Life Insurance Corporation of India
Life Insurance Corporation (LIC) is the largest insurance provider company in India. It has a market share of above 66.2% in new business premium. The company offers participating insurance products and non-participating products like unit-linked insurance products, saving insurance products, term insurance products, health insurance, and annuity & pension products.[1]
- Market Cap ₹ 6,23,836 Cr.
- Current Price ₹ 986
- High / Low ₹ 1,175 / 543
- Stock P/E 15.5
- Book Value ₹ 96.7
- Dividend Yield 0.41 %
- ROCE 149 %
- ROE 130 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company has delivered good profit growth of 71.6% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 108%
Cons
- Stock is trading at 10.2 times its book value
- The company has delivered a poor sales growth of 8.37% over past five years.
- Tax rate seems low
* 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
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|
492,068 | 522,848 | 559,986 | 615,920 | 681,605 | 720,515 | 781,543 | 805,044 | |
483,728 | 513,419 | 550,030 | 608,641 | 670,921 | 708,925 | 747,039 | 760,876 | |
Operating Profit | 8,339 | 9,429 | 9,957 | 7,280 | 10,684 | 11,590 | 34,504 | 44,169 |
OPM % | 2% | 2% | 2% | 1% | 2% | 2% | 4% | 5% |
607 | 801 | 841 | 2,698 | 623 | 789 | 7,661 | 1,066 | |
Interest | 47 | 46 | 39 | 58 | -0 | -0 | -0 | 0 |
Depreciation | 326 | 302 | 333 | 375 | 413 | 433 | 465 | 0 |
Profit before tax | 8,573 | 9,882 | 10,425 | 9,545 | 10,895 | 11,945 | 41,700 | 45,235 |
Tax % | 74% | 75% | 74% | 72% | 73% | 66% | 13% | |
2,232 | 2,446 | 2,688 | 2,713 | 2,901 | 4,043 | 36,397 | 40,341 | |
EPS in Rs | 6.39 | 57.55 | 63.78 | |||||
Dividend Payout % | -0% | -0% | 2% | 2% | -0% | 23% | 5% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 8% |
3 Years: | 8% |
TTM: | 2% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 72% |
3 Years: | 138% |
TTM: | 59% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | 79% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 118% |
3 Years: | 108% |
Last Year: | 130% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|
Equity Capital | 100 | 100 | 100 | 100 | 100 | 6,325 | 6,325 | 6,325 |
Reserves | 506 | 550 | 579 | 640 | 6,261 | 4,084 | 39,344 | 54,852 |
-0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | |
2,571,339 | 2,844,339 | 3,111,132 | 3,202,760 | 3,805,395 | 4,220,181 | 4,504,843 | 4,834,257 | |
Total Liabilities | 2,571,946 | 2,844,989 | 3,111,811 | 3,203,500 | 3,811,756 | 4,230,590 | 4,550,512 | 4,895,434 |
2,403 | 2,574 | 2,643 | 17,138 | 17,693 | 17,744 | 20,446 | 3,883 | |
CWIP | 182 | 175 | 241 | 246 | 148 | 198 | 331 | -0 |
Investments | 2,335,631 | 2,604,269 | 2,829,867 | 2,906,128 | 3,506,930 | 3,911,654 | 4,227,894 | 4,590,990 |
233,729 | 237,972 | 279,059 | 279,988 | 286,984 | 300,993 | 301,842 | 300,561 | |
Total Assets | 2,571,946 | 2,844,989 | 3,111,811 | 3,203,500 | 3,811,756 | 4,230,590 | 4,550,512 | 4,895,434 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|
70,555 | 67,931 | 19,849 | 74,769 | 55,723 | -3,135 | 59,718 | |
-78,249 | -75,610 | 1,895 | -85,722 | -54,013 | 10,377 | -57,899 | |
-2,497 | -2,370 | -2,252 | -2,608 | -0 | -0 | -949 | |
Net Cash Flow | -10,191 | -10,049 | 19,492 | -13,562 | 1,710 | 7,241 | 870 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|
Debtor Days | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
Inventory Days | |||||||
Days Payable | |||||||
Cash Conversion Cycle | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
Working Capital Days | 41 | 41 | 52 | 38 | 35 | 42 | 41 |
ROCE % | 1,580% | 1,575% | 1,354% | 307% | 142% | 149% |
Documents
Announcements
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Announcement Under Regulation 30 (LODR)- Change In Senior Management Personnel
24h - Change in Senior Management Personnel consequent upon his/her elevation in higher cadre.
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Annual Certificate Under Regulation 40 (9) Of SEBI (LODR) Regulations, 2015
19 Apr - Annual Certificate issued by M/s S. N. Ananthasubramanian & Co., Practicing Company Secretaries, for the financial year ended March 31, 2024.
- Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 19 Apr
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Announcement under Regulation 30 (LODR)-Change in Management
18 Apr - Change in Senior Management Personnel consequent upon his elevation to higher cadre.
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Announcement under Regulation 30 (LODR)-Change in Management
16 Apr - Life Insurance Corporation of India has informed about the Changes in Senior Management Personnel due to their elevation to higher cadre.
Annual reports
Concalls
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Feb 2024Transcript PPT
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Feb 2024TranscriptNotesPPT
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Nov 2023Transcript PPT REC
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Nov 2023TranscriptNotesPPT
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Aug 2023Transcript PPT
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Aug 2023TranscriptNotesPPT
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Jun 2023Transcript PPT
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May 2023TranscriptNotesPPT
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Feb 2023Transcript PPT
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Nov 2022Transcript PPT
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Sep 2022TranscriptNotesPPT
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Aug 2022Transcript PPT
Largest Insurance Company[1] LIC, owned by \ Government of India, is India's largest life insurance company with a history of over 65 years and a 61.6% market share in terms of premiums, 61.4% in New Business Premium, 71.8% in a number of individual policies issued, 88.8% in a number of group policies issued for 9MFY2022.
LIC is ranked fifth globally[2] by life insurance GWP and 10th globally in terms of total assets. It is the largest asset manager in India with an AUM of Rs 40.1 lakh crore as of Dec 2021, which is 17.0% of India's GDP. Its investments in listed equity represented around 4% of the total market capitalization of NSE and more government bonds than the RBI.