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 ₹ 5,75,540 Cr.
- Current Price ₹ 909
- High / Low ₹ 1,222 / 597
- Stock P/E 13.8
- Book Value ₹ 131
- Dividend Yield 1.10 %
- ROCE 73.0 %
- ROE 63.4 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company has delivered good profit growth of 73.2% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 79.2%
Cons
- The company has delivered a poor sales growth of 8.16% over past five years.
- Tax rate seems low
- Earnings include an other income of Rs.15,744 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
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
---|---|---|---|---|---|---|---|
571,508 | 628,043 | 690,914 | 723,606 | 784,628 | 845,966 | 868,138 | |
565,587 | 634,989 | 691,166 | 720,280 | 750,420 | 813,188 | 840,400 | |
Operating Profit | 5,920 | -6,947 | -252 | 3,326 | 34,207 | 32,779 | 27,738 |
OPM % | 1% | -1% | -0% | 0% | 4% | 4% | 3% |
2,615 | 20,870 | 12,820 | 9,248 | 7,800 | 14,829 | 15,744 | |
Interest | 0 | 0 | 0 | 0 | 77 | 128 | 0 |
Depreciation | 336 | 379 | 417 | 436 | 466 | 466 | 0 |
Profit before tax | 8,199 | 13,544 | 12,151 | 12,138 | 41,463 | 47,014 | 43,482 |
Tax % | 68% | 80% | 76% | 66% | 13% | 13% | |
2,627 | 2,710 | 2,974 | 4,125 | 35,997 | 40,916 | 41,777 | |
EPS in Rs | 6.52 | 56.91 | 64.69 | 66.13 | |||
Dividend Payout % | 2% | 2% | 0% | 23% | 5% | 15% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 8% |
3 Years: | 7% |
TTM: | 8% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 73% |
3 Years: | 140% |
TTM: | -9% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | 47% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 81% |
3 Years: | 79% |
Last Year: | 63% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|
Equity Capital | 100 | 100 | 100 | 6,325 | 6,325 | 6,325 |
Reserves | 710 | 902 | 6,784 | 5,013 | 39,908 | 76,422 |
269,401 | 253,414 | 4 | 1 | 0 | 0 | |
3,157,039 | 3,245,419 | 3,822,637 | 4,242,719 | 4,532,258 | 5,233,300 | |
Total Liabilities | 3,427,249 | 3,499,834 | 3,829,524 | 4,254,059 | 4,578,491 | 5,316,047 |
25,194 | 28,216 | 17,723 | 17,770 | 20,473 | 20,667 | |
CWIP | 710 | 734 | 148 | 199 | 331 | 403 |
Investments | 2,900,287 | 2,976,100 | 3,517,445 | 3,926,212 | 4,243,008 | 4,976,133 |
501,059 | 494,784 | 294,208 | 309,878 | 314,678 | 318,844 | |
Total Assets | 3,427,249 | 3,499,834 | 3,829,524 | 4,254,059 | 4,578,491 | 5,316,047 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|
13,274 | 54,367 | 80,602 | -3,783 | 54,519 | 26,122 | |
9,636 | -40,415 | 148,447 | 12,531 | -52,848 | -25,269 | |
-13,700 | -18,664 | -256,125 | 0 | -949 | -4,427 | |
Net Cash Flow | 9,210 | -4,712 | -27,077 | 8,748 | 722 | -3,574 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|
Debtor Days | 0 | 0 | 0 | 0 | 0 | 0 |
Inventory Days | ||||||
Days Payable | ||||||
Cash Conversion Cycle | 0 | 0 | 0 | 0 | 0 | 0 |
Working Capital Days | 78 | 63 | 35 | 42 | 43 | 39 |
ROCE % | 5% | 9% | 132% | 144% | 73% |
Documents
Announcements
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Announcement Under Regulation 30 (LODR)- Decrease In Shareholding In Vakrangee Limited
15 Oct - LIC decreases shareholding in Vakrangee Ltd from 6.429% to 4.414%.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
10 Oct - Certificate under Regulation 74(5) for Q3 2024.
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Announcement Under Regulation 30 Of SEBI (LODR) - Increase In Shareholding In Bank Of Maharashtra
5 Oct - LIC increases stake in Bank of Maharashtra to 7.10%.
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Announcement Under Regulation 30 Of SEBI (LODR) - Product Launch
4 Oct - Launch of LIC’s Single Premium Group Micro Term Insurance Plan.
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Announcement Under Regulation 30 Of SEBI (LODR) - Increase In Shareholding Of Apollo Tyres Limited
4 Oct - LIC increases shareholding in Apollo Tyres to 5.030%.
Annual reports
Concalls
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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.