MarketFriction

HDFC Life Insurance Company Ltd

NSE HDFCLIFE · BSE 540777 · Life Insurance
₹534.20 +2.49%
NSE close2026-10-01
52 week range508.70 - 788.50
Market cap₹1,13,746 Cr.
P/E57.6
IPO 2017 · +84% since Results 15-10 Nifty 50Nifty 100Nifty 200Nifty 500Nifty Financial Services No price band Delivery 44.2%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales23,14226,92728,04126,93428,49717,30024,19129,46320,65129,42819,89033,759
Expenses23,55726,66327,76626,62328,80716,85223,81429,02420,33629,15719,78233,253
Operating Profit-415264275311-310448377439315271108506
OPM %-1.8%1.0%1.0%1.2%-1.1%2.6%1.6%1.5%1.5%0.9%0.6%1.5%
Other Income13610317490279-29124164157174428171
Interest000000000000
Depreciation000000000000
Profit before tax-279367450401-30419500604471445537677
Tax %-235%-0%8%-20%-1,541%-1%5%9%5%6%7%10%
Net Profit378368412479435421475548448418497611
EPS in Rs1.761.711.912.232.021.962.212.542.081.942.312.81
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales18,14130,64732,26038,85529,38071,52867,12670,207101,48296,92299,432103,727
Expenses17,18729,67431,18637,64028,23970,29466,34870,127100,83695,89497,679102,527
Operating Profit9539721,0741,2151,1411,235778806461,0281,7531,200
OPM %5%3.2%3.3%3.1%3.9%1.7%1.2%0.1%0.6%1.1%1.8%1.2%
Other Income1081392821363694457661,437410366465931
Interest89111400000000
Depreciation4541444547515676791041610
Profit before tax1,0081,0611,3001,2911,4631,6291,4871,4419771,2902,0572,130
Tax %19%16%15%1%11%16%11%5%-61%-40%7%
Net Profit8178871,1071,2781,2971,3611,3271,3681,5741,8111,9121,975
EPS in Rs4.094.445.506.336.436.736.286.377.328.418.869.14
Dividend Payout %22%25%25%26%0%30%27%30%27%25%24%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth19%7%12%4%
Compounded Profit Growth9%7%12%5%
Stock Price CAGR%-6%-6%-31%
Return on Equity14%11%11%11%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital1,9951,9951,9982,0122,0172,0192,0212,1132,1492,1512,1532,158
Reserves5461,1081,8282,6933,6254,7886,61913,50110,84412,51514,00215,592
Borrowings0000006006009509502,9503,099
Other Liabilities66,76773,44191,270105,778124,378125,417170,415214,521234,126287,071330,307369,654
Total Liabilities69,30976,54495,097110,483130,020132,224179,655230,734248,069302,687349,412390,502
Fixed Assets3463353373363703225856,6059971,5492,1432,716
CWIP61216510814203128109139
Investments67,02474,14491,723106,590124,958127,256173,564216,551238,197291,128334,756373,340
Other Assets1,9322,0533,0203,5514,6824,6375,4937,5598,8449,98212,40414,308
Total Assets69,30976,54495,097110,483130,020132,224179,655230,734248,069302,687349,412390,502
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity4,4595,6876,2306,7399,8687,3889,7035,9436,88310,72115,59722,625
Cash from Investing Activity-3,514-3,962-5,177-4,421-10,182-7,789-8,952-801-10,071-13,622-13,633-23,849
Cash from Financing Activity-168-212-236-196-33738678-2381,985-4031,607-275
Net Cash Flow7771,5138172,122-651-3641,4294,904-1,203-3,3043,572-1,499
Free Cash Flow4,3525,6546,1836,7069,8257,3519,6435,8876,79710,58715,30022,341
CFO/OP510%597%641%627%813%672%806%789%9,190%1,444%1,543%1,302%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days000020000000
Inventory Days
Days Payable
Cash Conversion Cycle000020000000
Working Capital Days-11-27-20-25-16-17-13-11-12-8-6-6
ROCE %41%36%31%31%23%24%20%12%10%5%7%10%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters50.39%50.37%50.37%50.37%50.34%50.32%50.32%50.28%50.25%50.21%50.21%50.54%
FIIs30.53%31.28%30.03%26.63%25.63%25.14%24.96%24.75%24.82%24.27%22.52%19.27%
DIIs6.87%6.56%7.93%11.24%13.25%13.72%14.10%14.57%14.59%15.23%17.25%20.19%
Public12.18%11.76%11.64%11.74%10.75%10.76%10.60%10.37%10.32%10.25%10.00%9.98%
Others0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.02%
No. of Shareholders8,75,8778,44,7288,58,8448,92,3557,83,8447,91,4477,71,9497,38,6307,26,9597,07,1416,91,6497,05,326

Fundamentals

Market Cap₹ 1,13,746 Cr.
Current Price₹ 524
Stock P/E57.6
Book Value₹ 90.0
ROCE10.3 %
ROE11.3 %
Dividend Yield0.40 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)4%
Compounded Profit Growth (TTM)5%
Consolidated figures.
Valuation
Market capRs 115,271 Cr
Enterprise valueRs 116,379 Cr
P/E (TTM)58.36x
Price to book6.49x
Price to sales1.11x
EV / EBITDA50.80x
EV / EBIT54.63x
EV / sales1.12x
Price to cash flow5.09x
Earnings yield1.71%
Dividend yield0.39%
P/E, 3-year average78.24x
P/B, 3-year average8.54x
P/E, 5-year average79.76x
P/B, 5-year average8.23x
Profitability
Operating margin (excl. other income)1.76%
Operating margin (incl. other income)2.23%
EBITDA margin2.21%
Pre-tax margin2.05%
Net profit margin1.90%
Net margin, latest quarter1.81%
ROE11.28%
ROCE10.30%
ROA0.52%
ROE, 3-year average11.47%
ROCE, 3-year average8.11%
ROA, 3-year average0.55%
ROE, 5-year average10.98%
ROCE, 5-year average9.12%
ROA, 5-year average0.57%
ROIC (approx.)10.50%
Tax rate7.04%
Other income / net worth2.62%
Growth
Sales growth (latest year)2.59%
Profit growth (latest year)5.61%
Sales CAGR, 3 years12.30%
Sales CAGR, 5 years6.81%
Profit CAGR, 3 years11.81%
Profit CAGR, 5 years7.04%
Sales growth QoQ69.73%
Profit growth QoQ22.85%
Sales growth YoY (latest quarter)14.58%
Profit growth YoY (latest quarter)11.46%
Per share
EPS (TTM)Rs 9.15
EPS (latest year)Rs 8.86
EPS (latest quarter)Rs 2.83
EPS, 3-year averageRs 8.20
EPS, 5-year averageRs 7.45
Book value per shareRs 82.26
Sales per shareRs 480.70
Cash flow per shareRs 104.85
Free cash flow per shareRs 103.54
Dividend per share (latest year)Rs 2.10
Dividend per share, 3-year averageRs 2.07
Dividend per share, 5-year averageRs 1.96
Dividends
Dividend payout23.70%
Dividend payout, 3-year average25.33%
Dividend payout, 5-year average26.58%
Efficiency
Asset turnover0.25x
Fixed asset turnover36.61x
Cash conversion cycle0 days
Working capital days-6 days
Leverage
Total debtRs 3,099 Cr
Cash and bankRs 1,990 Cr
Net debtRs 1,109 Cr
Debt to equity0.17x
Net debt / EBITDA0.48x
Owners' fund to total sources4.55%
Debt to assets0.79%
Cash flow
Cash from Operating Activity (latest year)Rs 22,625 Cr
Cash from Investing Activity (latest year)Rs -23,849 Cr
Cash from Financing Activity (latest year)Rs -275 Cr
Net Cash Flow (latest year)Rs -1,499 Cr
Free cash flow (latest year)Rs 22,341 Cr
FCFE (approx.: FCF + change in debt)Rs 22,490 Cr
Cash from ops / profit, 5 years7.73x
Sales to cash flow4.39x
Statement figures
Net sales (TTM)Rs 103,727 Cr
Net sales (latest year)Rs 99,432 Cr
Sales (latest quarter)Rs 33,759 Cr
Operating profit excl. other income (latest year)Rs 1,753 Cr
Operating profit (latest quarter)Rs 506 Cr
Other income (TTM)Rs 931 Cr
EBITDA (TTM)Rs 2,291 Cr
PBDT (TTM)Rs 2,291 Cr
Profit before tax (TTM)Rs 2,130 Cr
Tax (latest year)Rs 145 Cr
Net profit (TTM)Rs 1,975 Cr
Net profit (latest year)Rs 1,912 Cr
Net profit (latest quarter)Rs 611 Cr
Depreciation (TTM)Rs 161 Cr
Cost of goods sold (latest year)Rs 89,774 Cr
Total expenditure (latest year)Rs 97,679 Cr
Total income (latest year)Rs 99,896 Cr
Share capitalRs 2,158 Cr
ReservesRs 15,592 Cr
Shareholders' fundsRs 17,750 Cr
Total assetsRs 390,502 Cr
Net blockRs 2,716 Cr
Capital work in progressRs 139 Cr
InvestmentsRs 373,340 Cr
Other liabilitiesRs 369,654 Cr
Shares outstanding (crore)215.78
Ownership
Promoter holding50.54% (+0.26 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 58.4 is at the 1th percentile of its own 9.0-year range (median 91.9, low 56.9, high 126.0).
P/B 6.49 is at the 1th percentile (median 13.07).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodHDFCLIFENifty 50Difference
1 week+1.4%-2.8% +4.2 pts
1 month-1.1%-6.8% +5.7 pts
3 months-5.9%-7.6% +1.7 pts
6 months-9.5%+0.4% -10.0 pts
1 year-30.2%-9.9% -20.3 pts
2 years-26.6%-13.6% -13.0 pts
3 years-16.2%+14.2% -30.4 pts
5 years-26.8%+27.9% -54.7 pts
291 mutual fund schemes hold about ₹17,471 Cr. Over three months 71 bought more and 54 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
SBI Large Cap Fundd2.86%1,576 +0%
ICICI Pru Value Fund1.97%1,183 +1%
ICICI Pru India Opp Fund2.45%939 +6%
ICICI Pru Large Cap Fund1.07%862 -0%
SBI Large & Midcap Fund1.75%743 -3%
Nippon India Large Cap Fund1.30%706 +22%
SBI ELSS Tax Saver Fund1.74%553 +1%
Kotak Arbitrage Fund(M0.70%530 +135%
ICICI Pru Multi Asset Allocation Fund0.57%505 +10%
Nippon India Small Cap Fund0.56%465 -5%
ICICI Pru Business Cycle Fund2.88%457 +10%
Mirae Asset Large Cap Fund1.16%449 -3%
SBI Banking & Financial Services Fund4.12%447 -1%
ICICI Pru Banking & Fin Serv Fund2.60%295 -2%
ICICI Pru Banking & Fin Serv Fund2.60%292 -2%
ICICI Pru Equity Savings Fund(Q1.73%281 +5%
ICICI Pru Focused Fund1.31%236 +100%
Tata Arbitrage Fund0.92%229 -17%
ICICI Pru Balanced Advantage Fund(M0.30%229 -13%
HDFC Aggressive Hybrid Fund0.97%217 +1%
Bandhan Value Fund2.06%205 +18%
DSP Large Cap Fund2.67%190 +2%
DSP Aggressive Hybrid Fund1.43%168 +1%
Aditya Birla SL Large Cap Fund0.56%167 -2%
UTI Nifty 50 Index Fund0.53%156 -0%

Red flags

F-score 6 of 8
lookRegulator order or action Regulator order or action 2026-09-11: HDFC Life Insurance Company Limited has informed the Exchange about Action(s) taken or orders passed
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2024-08-09VISHAL BANDLISHEmployees/Designated Employeother1,886Rs 0.08 CrESOP
2024-08-09VISHAL BANDLISHEmployees/Designated Employeother12,230Rs 0.48 CrESOP
2024-08-09RUCHITA VORAEmployees/Designated Employeother4,500Rs 0.24 CrESOP
2024-08-09ESHWARI MURUGANEmployees/Designated Employeother7,200Rs 0.32 CrESOP
2024-08-09VISHAL SUBHARWALEmployees/Designated Employeother39,337Rs 2.09 CrESOP
2024-08-09NAGESH PAIEmployees/Designated Employeother7,000Rs 0.38 CrESOP
2024-08-09NAGESH PAIEmployees/Designated Employeother2,000Rs 0.11 CrESOP
2024-08-09VISHAL BANDLISHEmployees/Designated Employeother11,314Rs 0.50 CrESOP
2024-01-16RUCHITA VORAEmployees/Designated Employeother3,000Rs 0.16 CrESOP
2024-01-16VIBHA PADALKARDirectorother127,500Rs 6.78 CrESOP
2023-12-09NARENDRA GANGANEmployees/Designated Employeother109,500Rs 5.86 CrESOP
2023-12-09RANGARAJAN BNEmployees/Designated Employeother54,000Rs 2.87 CrESOP
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹33,759 Cr +14.6% vs Jun 2025. Net profit ₹611 Cr +11.5%.

Activity

Compare
CompanyMcap (Cr)P/EROCE
Life Insurance Corporation of India493,3508.2135.1 %
SBI Life Insurance Company Ltd174,09166.915.0 %
ICICI Prudential Life Insurance Company Ltd64,51440.110.1 %
Max Financial Services Ltd48,0544432.87 %
Canara HSBC Life Insurance Company Ltd14,2141088.35 %
No bulk or block deals on record.
Ex-dateActionFactor
2026-06-19Dividend - Rs 2.10 Per Share
2025-06-20Dividend - Rs 2.10 Per Share
2024-06-21Dividend - Rs 2 Per Share
2023-06-16Dividend - Rs 1.90 Per Share
2022-05-31Dividend - Rs 1.70 Per Share
2021-06-30 Dividend - Rs 2.02 Per Sh
2019-07-11 Annual General Meeting
2019-03-14 Interim Dividend - Rs 1.63 Per Share
2018-07-12 Annual General Meeting
2017-12-15 Interim Dividend - Rs 1.36 Per Share (Purpose Revised)
DateTypeWhat it says
2026-09-29General UpdatesGrant of Stock Options and Performance Restricted Stock Units
2026-09-11Regulatory actionAction(s) taken or orders passed
2026-08-31Concall / analyst meetSchedule of meet
2026-08-26AllotmentAllotment of 114000 equity shares under Employee Stock Option Schemes
2026-08-19UpdatesApproval from the Insurance Regulatory and Development Authority of India (IRDAI) for re-appointment of Executive Directors.
2026-08-04Concall / analyst meetSchedule of meet
2026-07-22Concall / analyst meetTranscript
2026-07-16Shareholder meetingProceedings of Annual General Meeting held on July 16, 2026
2026-07-15Concall / analyst meetLink of Recording
2026-07-15CessationCessation of Mr Sumit Bose as Independent Director, of the company w.e.f. July 18, 2026 upon completion of his tenure of two consecutive terms of five...
2026-07-15Statement of deviation(s) orStatement of deviation(s) or variation(s) under Reg. 32
2026-07-15Press ReleaseA press release dated July 15, 2026, titled "Press Release and Investor Presentation Financial Results Q1 FY 27".
2026-07-15Board meeting outcomeHDFC Life Insurance Company Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-06Concall / analyst meetSchedule of meet
2026-06-30Regulatory actionGST Order
2026-06-24General UpdatesThe Business Responsibility and Sustainability Reporting (BRSR)
2026-06-24Shareholder meetingNotice of Annual General Meeting to be held on July 16, 2026
2026-06-16AllotmentAllotment of 14523906 equity shares to HDFC Bank Limited on Jun 16, 2026
2026-05-26Concall / analyst meetCancellation Of Analyst/ Institutional Investor Meet
2026-05-25ESOPAllotment of 131539 Shares.
2026-05-18Shareholder meetingVoting results.
2026-05-18Disclosure under SEBI TakeovHDFC Bank Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial...
2026-05-07General UpdatesThe intimation of investor meet
2026-04-23Concall / analyst meetTranscript
2026-04-23UpdatesDisclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 Upd...
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest0.84
Max pain (expiry 2026-10-27)530
Largest call open interest at560
Largest put open interest at500
Implied volatility, at the money27.2%
Underlying at snapshot534.20
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
Trade dateShares sold short
2026-09-304,315
2026-09-2914,291
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Scrip PE is greater than 50 (4 trailing quarters)
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03