Life Insurance Corporation of India

Life Insurance Corporation of India

₹ 1,139 2.77%
22 Jul 2:04 p.m.
About

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]

Key Points

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.

  • Market Cap 7,20,417 Cr.
  • Current Price 1,139
  • High / Low 1,175 / 597
  • Stock P/E 17.5
  • Book Value 131
  • Dividend Yield 0.86 %
  • ROCE 66.4 %
  • ROE 63.4 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 73.1% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 79.1%

Cons

  • Stock is trading at 8.70 times its book value
  • The company has delivered a poor sales growth of 8.18% over past five years.
  • Tax rate seems low
  • Earnings include an other income of Rs.14,861 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

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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
189,975 154,944 181,817 174,831 212,098 168,799 217,092 197,714 201,231 190,163 203,033 214,054 238,968
186,404 153,693 183,940 172,156 213,222 168,360 202,366 194,094 189,692 180,169 194,558 204,815 238,657
Operating Profit 3,570 1,251 -2,123 2,675 -1,124 439 14,727 3,620 11,539 9,994 8,475 9,239 312
OPM % 2% 1% -1% 2% -1% 0% 7% 2% 6% 5% 4% 4% 0%
132 151 5,451 123 3,503 992 6,046 270 612 117 288 206 14,249
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 3,702 1,402 3,328 2,798 2,379 1,431 20,772 3,891 12,151 10,111 8,763 9,445 14,560
Tax % 28% 115% 97% 115% -1% 103% 26% -63% 8% 14% 13% 15% 14%
2,917 22 1,479 210 2,409 608 15,858 7,306 13,189 9,634 8,032 9,434 13,784
EPS in Rs 2.34 0.33 3.81 0.95 25.07 11.56 20.86 15.23 12.70 14.97 21.79
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
571,508 628,043 690,914 723,606 784,628 846,656
565,587 634,989 691,166 720,280 750,619 818,637
Operating Profit 5,920 -6,947 -252 3,326 34,009 28,019
OPM % 1% -1% -0% 0% 4% 3%
2,615 20,870 12,820 9,248 7,920 14,861
Interest 0 0 0 0 0 0
Depreciation 336 379 417 436 466 0
Profit before tax 8,199 13,544 12,151 12,138 41,463 42,880
Tax % 68% 80% 76% 66% 13% 14%
2,627 2,710 2,974 4,125 35,997 40,885
EPS in Rs 6.52 56.91 64.69
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: 14%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 74%
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 9
3,157,039 3,245,419 3,822,637 4,242,719 4,532,258 5,233,292
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 4,075
CWIP 710 734 148 199 331 0
Investments 2,900,287 2,976,100 3,517,445 3,926,212 4,243,008 4,993,128
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 -25,400
-13,700 -18,664 -256,125 0 -949 -4,427
Net Cash Flow 9,210 -4,712 -27,077 8,748 722 -3,706

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% 143% 66%

Shareholding Pattern

Numbers in percentages

1 Recently
Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
96.50% 96.50% 96.50% 96.50% 96.50% 96.50% 96.50% 96.50% 96.50%
0.12% 0.18% 0.17% 0.08% 0.08% 0.10% 0.06% 0.14% 0.19%
1.06% 0.91% 0.91% 0.90% 0.83% 0.84% 1.00% 0.85% 0.94%
2.32% 2.42% 2.42% 2.52% 2.58% 2.55% 2.43% 2.49% 2.37%
No. of Shareholders 37,89,05336,03,67934,42,34033,78,79932,81,54431,34,54129,36,74027,16,18125,63,693

* 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.

Click on the line-items to see the names of individual entities.

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