SBI Life Insurance Company Ltd

SBI Life Insurance Company Ltd

₹ 1,529 1.29%
23 Feb - close price
About

SBI Life Insurance Company Ltd is engaged in the business of life insurance and annuity. It was started as a Joint-venture between State Bank of India and BNP Paribas Cardif S.A.[1]

Key Points

Ratios FY21
Solvency Ratio - 215%[1]
Claim Settlement Ratio - 100%[2]
Cost Ratio - 8%
Commission Ratio - 3.5%
Persistency Ratio (13 months) - 88%
Persistency Ratio (61 months) - 62%
VNB Margin - 20%[1]
Net Retention Ratio - 99%[3]

  • Market Cap 1,53,105 Cr.
  • Current Price 1,529
  • High / Low 1,536 / 1,039
  • Stock P/E 82.3
  • Book Value 144
  • Dividend Yield 0.16 %
  • ROCE 15.5 %
  • ROE 14.0 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company is expected to give good quarter

Cons

  • Stock is trading at 10.6 times its book value
  • Tax rate seems low
  • Earnings include an other income of Rs.1,761 Cr.
  • Promoter holding has decreased over last 3 years: -5.27%

* 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

Figures in Rs. Crores

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
26,718 20,289 16,004 25,636 20,672 20,671 4,806 27,717 26,817 21,296 27,895 28,805 39,033
26,432 20,624 15,752 25,364 20,272 20,941 4,516 27,292 26,483 22,197 27,471 28,392 38,681
Operating Profit 286 -335 252 272 400 -270 290 426 333 -901 424 413 352
OPM % 1% -2% 2% 1% 2% -1% 6% 2% 1% -4% 2% 1% 1%
10 837 17 11 10 995 11 11 13 1,723 9 12 18
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 296 502 270 282 410 725 301 437 346 822 433 424 370
Tax % 21% -6% 17% 13% 11% 7% 13% 14% 12% 5% 12% 10% 13%
233 532 223 247 364 672 263 377 304 777 381 380 322
EPS in Rs 2.33 5.32 2.23 2.47 3.64 6.72 2.63 3.76 3.04 7.76 3.81 3.80 3.21
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
13,760 14,870 17,258 23,299 19,324 30,548 34,068 44,604 43,798 81,913 82,983 80,636 117,028
13,331 14,443 16,747 22,505 18,404 29,479 32,736 43,130 42,447 81,040 82,254 80,420 116,741
Operating Profit 429 427 511 794 920 1,068 1,332 1,474 1,351 872 730 216 287
OPM % 3% 3% 3% 3% 5% 4% 4% 3% 3% 1% 1% 0% 0%
214 292 344 183 129 139 156 266 529 867 1,032 1,758 1,761
Interest 4 4 5 4 5 5 6 8 0 0 0 0 0
Depreciation 34 25 35 34 37 48 59 92 89 99 75 68 0
Profit before tax 604 690 816 939 1,007 1,154 1,422 1,642 1,790 1,640 1,687 1,906 2,048
Tax % 8% 9% 11% 13% 16% 17% 19% 19% 21% 11% 11% 10%
556 630 728 815 844 955 1,150 1,327 1,422 1,456 1,506 1,721 1,860
EPS in Rs 5.56 6.30 7.28 8.15 8.44 9.55 11.50 13.27 14.22 14.56 15.05 17.19 18.58
Dividend Payout % 9% 8% 14% 15% 14% 16% 17% 15% 0% 17% 13% 15%
Compounded Sales Growth
10 Years: 18%
5 Years: 19%
3 Years: 23%
TTM: 46%
Compounded Profit Growth
10 Years: 11%
5 Years: 8%
3 Years: 7%
TTM: 15%
Stock Price CAGR
10 Years: %
5 Years: 22%
3 Years: 21%
1 Year: 36%
Return on Equity
10 Years: 17%
5 Years: 15%
3 Years: 14%
Last Year: 14%

Balance Sheet

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,001 1,001
Reserves 1,156 1,736 2,356 3,056 3,733 4,552 5,528 6,576 7,743 9,400 10,622 12,017 12,968
0 0 0 0 0 0 0 0 0 0 0 0 0
46,085 50,978 57,284 70,064 78,696 96,687 115,193 139,157 156,837 216,430 261,715 301,669 338,453
Total Liabilities 48,240 53,714 60,640 74,121 83,429 102,240 121,720 146,734 165,580 226,830 273,337 314,686 352,422
263 283 304 292 301 507 511 563 568 564 919 867 542
CWIP 2 3 4 7 146 31 70 32 13 1 3 1 0
Investments 44,778 50,047 56,275 69,385 77,843 95,830 114,436 139,325 158,813 218,756 264,437 303,988 342,174
3,198 3,382 4,058 4,437 5,139 5,871 6,703 6,814 6,186 7,509 7,978 9,830 9,705
Total Assets 48,240 53,714 60,640 74,121 83,429 102,240 121,720 146,734 165,580 226,830 273,337 314,686 352,422

Cash Flows

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
6,468 1,130 166 2,711 5,778 8,525 10,395 13,473 19,299 23,878 21,852 28,656
-4,968 -227 -708 -178 -7,204 -9,032 -8,910 -13,552 -16,986 -19,203 -21,611 -30,203
0 -58 -58 -117 -144 -144 -221 -241 -198 3 -231 -415
Net Cash Flow 1,500 845 -600 2,416 -1,570 -651 1,264 -321 2,114 4,677 10 -1,962

Ratios

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 0 0 0 0 0 0 0 0 0 0 0 0
Inventory Days
Days Payable
Cash Conversion Cycle 0 0 0 0 0 0 0 0 0 0 0 0
Working Capital Days -11 -5 -2 0 -6 3 3 4 11 1 -3 1
ROCE % 32% 28% 27% 25% 23% 23% 24% 22% 22% 17% 15% 15%

Shareholding Pattern

Numbers in percentages

1 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
55.70% 55.70% 55.69% 55.69% 55.48% 55.48% 55.46% 55.45% 55.45% 55.45% 55.44% 55.43%
30.51% 27.24% 24.48% 24.47% 24.15% 23.90% 24.33% 25.09% 25.14% 26.22% 26.17% 25.92%
6.94% 9.64% 12.06% 12.00% 12.46% 12.29% 15.65% 14.93% 15.09% 14.15% 14.27% 14.63%
6.85% 7.43% 7.77% 7.84% 7.91% 8.33% 4.56% 4.54% 4.34% 4.19% 4.11% 4.01%
No. of Shareholders 4,01,4753,83,4873,90,0494,10,1754,08,0814,03,4073,93,3983,84,7723,74,6743,58,0883,49,4073,38,525

* 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.

Documents

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