Financials Life Insurance Corporation of India

Equities

LICI

INE0J1Y01017

Life & Health Insurance

Market Closed - NSE India S.E. Other stock markets 05:13:48 03/05/2024 pm IST			5-day change	1st Jan Change
979.2 ^INR	-2.00%		-0.90%	+17.62%

29/04	Jindal Steel & Power Appoints CFO	MT
22/04	Life Insurance Corporation of India Announces Board Changes	CI

Valuation

Fiscal Period: March	2023	2024	2025	2026
Capitalization ¹	33,79,763	61,93,121	-	-
Enterprise Value (EV) ¹	29,24,777	57,38,526	56,97,314	56,51,896
P/E ratio	9.39 x	18.2 x	16.5 x	14.5 x
Yield	0.56%	0.51%	0.6%	0.5%
Capitalization / Revenue	0.43 x	0.72 x	0.66 x	0.61 x
EV / Revenue	0.37 x	0.67 x	0.61 x	0.55 x
EV / EBITDA	7.9 x	21.2 x	18.9 x	18 x
EV / FCF	-	-	-	-
FCF Yield	-	-	-	-
Price to Book	7.31 x	8.25 x	5.89 x	4.17 x
Nbr of stocks (in thousands)	63,24,998	63,24,998	-	-
Reference price ²	534.4	979.2	979.2	979.2
Announcement Date	24/05/23	-	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2022	2023	2024	2025	2026
Net sales ¹	-	79,11,044	85,83,501	94,07,705	1,02,11,640
EBITDA ¹	-	3,70,334	2,71,087	3,00,973	3,14,800
EBIT ¹	-	3,60,809	3,43,220	3,84,915	4,23,821
Operating Margin	-	4.56%	4%	4.09%	4.15%
Earnings before Tax (EBT) ¹	-	3,60,809	3,46,122	3,85,690	4,39,063
Net income ¹	41,247	3,59,966	3,50,606	3,76,504	4,29,318
Net margin	-	4.55%	4.08%	4%	4.2%
EPS ²	6.520	56.91	53.66	59.47	67.41
Free Cash Flow	-	-	-	-	-
FCF margin	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-
Dividend per Share ²	-	3.000	4.950	5.850	4.926
Announcement Date	30/05/22	24/05/23	-	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 S1	2024 Q4
Net sales	9,88,053	-	-	20,09,278	-	-	-	-
EBITDA	29,711	-	-	-	-	-	-	-
EBIT ¹	6,312	1,58,819	83,768	1,31,909	97,336	76,405	-	59,039
Operating Margin	0.64%	-	-	6.57%	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-
Net income	-	1,58,544	83,487	-	-	95,870	1,76,653	-
Net margin	-	-	-	-	-	-	-	-
EPS	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-
Announcement Date	12/08/22	11/11/22	09/02/23	24/05/23	10/08/23	-	10/11/23	-

¹INR in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-
Net Cash position ¹	-	4,54,986	4,54,596	4,95,808	5,41,226
Leverage (Debt/EBITDA)	-	-	-	-	-
Free Cash Flow	-	-	-	-	-
ROE (net income / shareholders' equity)	-	125%	56.8%	39.8%	31.5%
ROA (Net income/ Total Assets)	-	0.83%	0.66%	0.63%	0.6%
Assets ¹	-	4,35,05,736	5,30,01,714	6,01,44,465	7,16,12,715
Book Value Per Share ²	-	73.10	119.0	166.0	235.0
Cash Flow per Share	-	-	-	-	-
Capex	-	-	-	-	-
Capex / Sales	-	-	-	-	-
Announcement Date	30/05/22	24/05/23	-	-	-

¹INR in Million²INR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Life Insurance Corporation of India

Trading Rating

Investor Rating

ESG Refinitiv

D+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

979.2 INR

Average target price

1,089 INR

Spread / Average Target

+11.20%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Life Insurance

	1st Jan change	Capi.
LIFE INSURANCE CORPORATION OF INDIA	+17.62%	74.27B
CHINA LIFE INSURANCE COMPANY LIMITED	+10.87%	98.91B
PING AN INSURANCE (GROUP) COMPANY OF CHINA, LTD.	+2.63%	98.63B
AIA GROUP LIMITED	-9.85%	87.94B
CHINA PACIFIC INSURANCE (GROUP) CO., LTD.	+8.49%	31.02B
JAPAN POST HOLDINGS CO., LTD.	+20.29%	29.23B
FUBON FINANCIAL HOLDING CO., LTD.	+6.48%	27.81B
SBI LIFE INSURANCE COMPANY LIMITED	+0.74%	17.33B
HDFC LIFE INSURANCE COMPANY LIMITED	-12.49%	14.6B
NN GROUP N.V.	+20.70%	12.73B

Life Insurance