Company Valuation: ICICI Prudential Life Insurance Company Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 6,39,870 7,19,947 6,26,786 8,76,831 8,15,667 7,00,966 - -
Change - 12.51% -12.94% 39.89% -6.98% -14.06% - -
Enterprise Value (EV) 1 6,46,287 7,25,237 6,31,033 8,80,454 8,31,595 7,53,053 7,16,552 7,16,822
Change - 12.22% -12.99% 39.53% -5.55% -9.44% 0.26% 0.04%
P/E ratio 67x 95.2x 77.1x 103x 69.2x 46.6x 41.1x 36.4x
PBR 7.03x 7.86x 6.21x 7.97x 6.83x 5.42x 4.74x 4.31x
PEG - -4.6x 10.4x 24.25x 1.8x 1.4x 1.7x 2.8x
Capitalization / Revenue 1.83x 1.98x 1.63x 2.1x 1.73x 1.44x 1.27x 1.15x
EV / Revenue 1.85x 2x 1.64x 2.11x 1.76x 1.47x 1.29x 1.17x
EV / EBITDA - - - - - - - -
EV / EBIT 60x 91.3x 70.1x 95.6x 62.4x 41.6x 32.5x 28.5x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 2 0.55 0.6 0.6 0.85 1.65 1.312 1.455
Rate of return 0.45% 0.11% 0.14% 0.1% 0.15% 0.32% 0.27% 0.3%
EPS 2 6.65 5.26 5.65 5.89 8.16 10.94 11.75 13.26
Distribution rate 30.1% 10.5% 10.6% 10.2% 10.4% 15.1% 11.2% 11%
Net sales 1 3,49,734 3,63,213 3,85,595 4,17,597 4,72,594 5,13,356 5,54,106 6,11,977
EBITDA - - - - - - - -
EBIT 1 10,774 7,948 9,003 9,205 13,317 18,119 22,048 25,164
Net income 1 9,562 7,592 8,135 8,507 11,855 16,079 17,359 19,902
Net Debt 1 6,417 5,291 4,248 3,623 15,928 14,573 15,586 15,856
Reference price 2 445.60 500.90 435.70 608.65 564.35 483.25 483.25 483.25
Nbr of stocks (in thousands) 14,35,974 14,37,306 14,38,571 14,40,616 14,45,321 14,50,525 - -
Announcement Date 19/04/21 16/04/22 20/04/23 23/04/24 15/04/25 14/04/26 - -
1INR in Million2INR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
50.93x1.42x - 0.22% 735.59Cr
5.82x1.43x - 3.58% 13TCr
9.92x0.47x11.73x1.5% 5.31TCr
11.85x - - 3.86% 5.24TCr
17.65x10.44x99.21x2.35% 3.62TCr
8.92x2.13x10.16x5.8% 2.16TCr
67.22x1.38x - 0.18% 1.88TCr
11.64x - - 4.18% 1.48TCr
16.64x0.82x - 2.92% 1.31TCr
63.04x1.15x - 0.38% 1.3TCr
Average 26.36x 2.41x 40.36x 2.5% 3.58TCr
Weighted average by Cap. 15.57x 2.39x 39.99x 2.96%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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