MarketFriction

Life Insurance Corporation of India

NSE LICI · BSE 543526 · Life Insurance
₹391.85 -0.85%
NSE close2026-10-01
52 week range360.75 - 468.48
Market cap₹4,93,350 Cr.
P/E8.21
IPO 2022 · -17% since Nifty 200Nifty 500Nifty Midcap 100Midcap 150Nifty Midcap Select No price band Delivery 52.5%

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
Sales203,033214,054238,717211,952231,132203,751243,134224,671241,524235,954276,744239,866
Expenses194,558204,815237,152202,180224,544191,818221,621214,198232,032223,588265,521225,854
Operating Profit8,4759,2391,5649,7736,58811,93421,51410,4749,49212,36611,22214,012
OPM %4.2%4.3%0.7%4.6%2.9%6%9%4.7%3.9%5%4.1%6%
Other Income28820614,2491,0017948189547801,0448223,1661,301
Interest000000000000
Depreciation000000000000
Profit before tax8,7639,44515,81310,7747,38212,75222,46811,25310,53713,18814,38815,312
Tax %13%15%12%15%16%14%15%15%14%15%-63%11%
Net Profit8,0329,43413,84210,5277,72311,00919,03910,95510,09612,90823,46713,584
EPS in Rs6.357.4910.948.346.118.7015.058.667.9810.2218.5510.74
Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales571,508628,043690,914723,606784,628845,966889,970977,772994,088
Expenses565,587634,989691,166720,280750,498813,316836,692929,011946,996
Operating Profit5,920-6,947-2523,32634,13032,65153,27848,76147,092
OPM %1.0%-1.1%-0.0%0.5%4.3%3.9%6%5.0%4.7%
Other Income2,61520,87012,8209,2487,80014,8293,4955,4216,333
Interest000000000
Depreciation3363794174364664665067070
Profit before tax8,19913,54412,15112,13841,46347,01456,26753,47553,425
Tax %68%80%76%66%13%13%14%-7%
Net Profit2,6272,7102,9744,12535,99740,91648,32057,45360,055
EPS in Rs3.2628.4632.3438.2045.4247.49
Dividend Payout %2%2%0%23%5%15%16%11%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth%7%8%10%
Compounded Profit Growth%81%17%23%
Stock Price CAGR%%6%-13%
Return on Equity%52%46%38%
Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital1001001006,3256,3256,3256,3256,325
Reserves7109026,7845,01239,90876,422120,901170,280
Borrowings269,401253,414410000
Other Liabilities3,157,0393,245,4193,822,6374,242,7194,532,2585,233,3005,533,3425,771,951
Total Liabilities3,427,2493,499,8343,829,5244,254,0584,578,4915,316,0475,660,5685,948,556
Fixed Assets25,19428,21617,72317,77020,47320,66721,33028,335
CWIP710734148199331403326419
Investments2,900,2872,976,1003,517,4453,926,2114,243,0084,976,1335,298,4295,556,359
Other Assets501,059494,784294,208309,878314,678318,844340,483363,444
Total Assets3,427,2493,499,8343,829,5244,254,0584,578,4915,316,0475,660,5685,948,556
Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity13,27454,36780,602-3,78354,51926,548-9,721-26,211
Cash from Investing Activity9,636-40,415148,44712,531-52,848-25,69541,40836,693
Cash from Financing Activity-13,700-18,664-256,1250-949-4,427-3,794-7,626
Net Cash Flow9,210-4,712-27,0778,748722-3,57427,8932,856
Free Cash Flow11,28153,44786,765-3,87953,97625,835-10,435-27,181
CFO/OP500%-908%-27,549%108%143%64%-19%-42%
Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days00000000
Inventory Days
Days Payable
Cash Conversion Cycle00000000
Working Capital Days7863354243393845
ROCE %5%9%131%143%73%53%35%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters96.50%96.50%96.50%96.50%96.50%96.50%96.50%96.50%96.50%96.50%96.50%96.50%
FIIs0.10%0.06%0.14%0.19%0.16%0.07%0.10%0.11%0.13%0.20%0.31%0.44%
DIIs0.84%1.00%0.85%0.94%1.16%1.26%1.27%1.37%1.35%1.33%1.27%0.99%
Public2.55%2.43%2.49%2.37%2.17%2.15%2.13%2.02%2.03%1.96%1.90%2.06%
No. of Shareholders31,34,54129,36,74027,16,18125,63,69323,98,13023,75,39623,71,84122,77,18022,27,96621,55,41721,11,76621,52,897

Fundamentals

Market Cap₹ 4,93,350 Cr.
Current Price₹ 390
Stock P/E8.21
Book Value₹ 140
ROCE35.1 %
ROE37.8 %
Dividend Yield2.56 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)10%
Compounded Profit Growth (TTM)23%
Consolidated figures.
Valuation
Market capRs 247,845 Cr
Enterprise valueRs 206,021 Cr
P/E (TTM)4.13x
Price to book3.00x
Price to sales0.25x
EV / EBITDA3.82x
EV / EBIT3.86x
EV / sales0.21x
Price to cash flow9.34x
Earnings yield24.24%
Dividend yield2.55%
P/E, 3-year average5.89x
P/B, 3-year average3.58x
P/E, 5-year average5.89x
P/B, 5-year average3.58x
Profitability
Operating margin (excl. other income)3.86%
Operating margin (incl. other income)5.61%
EBITDA margin5.42%
Pre-tax margin5.37%
Net profit margin6.04%
Net margin, latest quarter5.66%
ROE63.45%
ROCE72.90%
ROA0.83%
ROE, 3-year average77.92%
ROCE, 3-year average116.71%
ROA, 3-year average0.58%
ROE, 5-year average121.69%
ROCE, 5-year average72.92%
ROA, 5-year average0.38%
ROIC (approx.)113.62%
Tax rate12.97%
Other income / net worth17.92%
Growth
Sales growth (latest year)7.82%
Profit growth (latest year)13.67%
Sales CAGR, 3 years6.98%
Sales CAGR, 5 years8.16%
Profit CAGR, 3 years139.61%
Profit CAGR, 5 years73.17%
Sales growth QoQ-13.33%
Profit growth QoQ-42.11%
Sales growth YoY (latest quarter)6.76%
Profit growth YoY (latest quarter)23.98%
Per share
EPS (TTM)Rs 94.99
EPS (latest year)Rs 64.69
EPS (latest quarter)Rs 21.48
EPS, 3-year averageRs 42.71
EPS, 5-year averageRs 139.32
Book value per shareRs 130.83
Sales per shareRs 1,571.68
Cash flow per shareRs 41.97
Free cash flow per shareRs -42.97
Dividend per share (latest year)Rs 10.00
Dividend per share, 3-year averageRs 4.83
Dividend per share, 5-year averageRs 4.69
Dividends
Dividend payout15.46%
Dividend payout, 3-year average14.58%
Dividend payout, 5-year average11.33%
Efficiency
Asset turnover0.16x
Fixed asset turnover40.93x
Cash conversion cycle0 days
Working capital days45 days
Leverage
Cash and bankRs 41,824 Cr
Net debtRs -41,824 Cr
Net debt / EBITDA-0.78x
Owners' fund to total sources1.56%
Cash flow
Cash from Operating Activity (latest year)Rs 26,548 Cr
Cash from Investing Activity (latest year)Rs -25,695 Cr
Cash from Financing Activity (latest year)Rs -4,427 Cr
Net Cash Flow (latest year)Rs -3,574 Cr
Free cash flow (latest year)Rs -27,181 Cr
Cash from ops / profit, 5 years0.22x
Sales to cash flow31.87x
Statement figures
Net sales (TTM)Rs 994,088 Cr
Net sales (latest year)Rs 845,966 Cr
Sales (latest quarter)Rs 239,866 Cr
Operating profit excl. other income (latest year)Rs 32,651 Cr
Operating profit (latest quarter)Rs 14,012 Cr
Other income (TTM)Rs 6,333 Cr
EBITDA (TTM)Rs 53,891 Cr
PBDT (TTM)Rs 53,891 Cr
Profit before tax (TTM)Rs 53,425 Cr
Tax (latest year)Rs 6,098 Cr
Net profit (TTM)Rs 60,080 Cr
Net profit (latest year)Rs 40,916 Cr
Net profit (latest quarter)Rs 13,584 Cr
Depreciation (TTM)Rs 466 Cr
Cost of goods sold (latest year)Rs 765,244 Cr
Total expenditure (latest year)Rs 813,316 Cr
Total income (latest year)Rs 860,795 Cr
Share capitalRs 6,325 Cr
ReservesRs 76,422 Cr
Shareholders' fundsRs 82,747 Cr
Total assetsRs 5,316,047 Cr
Net blockRs 20,667 Cr
Capital work in progressRs 403 Cr
InvestmentsRs 4,976,133 Cr
Other liabilitiesRs 5,233,300 Cr
Shares outstanding (crore)632.50
Ownership
Promoter holding96.50% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 4.1 is the lowest in its own 4.5-year history (median 67.5, low 4.1, high 108.8).
P/B 3.00 is the lowest in 3.9 years (median 26.62).
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.
PeriodLICINifty 50Difference
1 week-3.5%-2.8% -0.7 pts
1 month-4.9%-6.8% +1.9 pts
3 months-8.9%-7.6% -1.3 pts
6 months+8.0%+0.4% +7.6 pts
1 year-11.8%-9.9% -1.8 pts
2 years-24.1%-13.6% -10.6 pts
3 years+20.6%+14.2% +6.4 pts
245 mutual fund schemes hold about ₹30,130 Cr. Over three months 214 bought more and 11 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
ICICI Pru Value Fund5.88%3,536 +393%
ICICI Pru Multi Asset Allocation Fund3.81%3,349 +347%
ICICI Pru Large Cap Fund2.61%2,093 +868%
SBI Aggressive Hybrid Fund2.36%2,090 +100%
SBI Focused Fund3.43%1,756 +100%
ICICI Pru India Opp Fund4.25%1,628 +382%
ICICI Pru Aggressive Hybrid Fund(A2.95%1,547 +355%
HDFC Balanced Advantage Fund1.18%1,270 +660%
SBI Large Cap Fundd0.97%535 +100%
SBI Flexicap Fund2.21%514 +100%
ICICI Pru Balanced Advantage Fund(M0.57%427 +268%
SBI Dividend Yield Fund3.84%328 +100%
HDFC Flexi Cap Fund0.28%324 +100%
Mirae Asset Large Cap Fund0.81%313 +100%
SBI Children's Fund-Investment Plan3.77%293 +100%
Mirae Asset Focused Fund4.31%291 +100%
Mirae Asset Focused Fund4.31%286 +100%
Kotak Multi Cap Fund0.97%284 +96%
SBI Contra Fund0.55%259 +6%
Kotak Arbitrage Fund(M0.31%234 +100%
Nippon India Focused Fund2.49%215 +100%
Aditya Birla SL PSU Equity Fund3.51%213 +156%
ICICI Pru Energy Opportunities Fund2.52%209 +100%
SBI Midcap Fund0.84%207 +100%
SBI Midcap Fund0.84%205 +100%

Red flags

F-score 4 of 8
No red flags in the latest statements and filings.
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.

Latest quarter

Jun 2026
Sales ₹239,866 Cr +6.8% vs Jun 2025. Net profit ₹13,584 Cr +24.0%.

Activity

Compare
CompanyMcap (Cr)P/EROCE
SBI Life Insurance Company Ltd174,09166.915.0 %
HDFC Life Insurance Company Ltd113,74657.610.3 %
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
2026-06-25Dividend - Rs 10 Per Share
2026-05-29Bonus 1:10.5000
2025-07-25Dividend - Rs 12 Per Share
2024-07-19Dividend - Rs 6 Per Share
2024-02-21Interim Dividend - Rs 4 Per Share
2023-07-21Dividend - Rs 3 Per Share
2022-08-25Dividend - Rs 1.50 Per Share
DateTypeWhat it says
2026-09-30General UpdatesThe superannuation of 4 SMPs of the Corporation w.e.f. September 30, 2026.
2026-09-30General UpdatesShri Shatmanyu Shrivastava, Chief Financial Officer, KMP of the Corporation will be superannuating w.e.f September 30, 2026.
2026-09-25General UpdatesThe notification of Govt of India for the approval of voluntary retirement of Shri Dinesh Pant.
2026-09-25Change in ManagementThe voluntary retirement of Shri Dinesh Pant approved by the Govt. of India.
2026-09-22General UpdatesThe InvestorsMeet attended by the representatives of the Corporation on September 22, 2026.
2026-09-21General UpdatesThe Investors Meet attended by the representatives of the Corporation on September 21, 2026.
2026-09-18General UpdatesThe Analyst/Institutional Investor Meet/Conference attended by the representatives of the Corporation on September 18, 2026.
2026-09-09Clarification - Financial ReThe Exchange has sought clarification from Life Insurance Corporation Of India for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the ...
2026-09-08General UpdatesThe Corporations participation in three Investor Meets/Conferences.
2026-08-31General UpdatesThe launch of new products.
2026-08-31Change in ManagementThe cessation of Senior Management Personnel.
2026-08-27General UpdatesSubscribed for Non-Convertible Debentures for Bajaj Finance Limited.
2026-08-19UpdatesPost OFS Shareholding Pattern.
2026-08-18General UpdatesRe-designation of Senior Management Personnel.
2026-08-17General UpdatesThe Investors Meet on August 17, 2026 have been attended by the representatives of the Corporation.
2026-08-13General UpdatesTheir representatives having attended the Investors Meet on August 13, 2026
2026-08-12General UpdatesThe Corporations participation in investor conference to be held on August 17, 2026
2026-08-12General UpdatesThe Transcript of Earnings Conference Call of the Corporation with Analyst/Investors held on August 06, 2026 is attached.
2026-08-12General UpdatesThe presentation enclosed for Analysts/institutional Invetors Meet/Conference to be scheduled on August 13, 2026.
2026-08-07UpdatesThe disclosured received by Corporation under Regulation 7(2)(a) of PIT Regulations.
2026-08-07General UpdatesThe launch of new product.
2026-08-06General UpdatesAudio Recording of Conference Call.
2026-08-06General UpdatesThe Investor Meet of the Corporation to be held on August 13, 2026
2026-08-06General UpdatesPresentation for Analyst Call of the Corporation.
2026-08-06Board meeting outcomeLife Insurance Corporation Of India has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest0.66
Max pain (expiry 2026-10-27)400
Largest call open interest at400
Largest put open interest at400
Implied volatility, at the money22.7%
Underlying at snapshot391.85
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
2026-09-291,400
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Life Insurance Corporation of India?

Life Insurance Corporation of India (LICI) has a market capitalisation of Rs 4,93,350 Cr. at the 2026-10-01 close.

What is the P/E ratio of Life Insurance Corporation of India?

Life Insurance Corporation of India trades at a P/E of 8.21 on trailing twelve-month profit, at the 2026-10-01 close.

What were Life Insurance Corporation of India's latest quarterly results?

In the Jun 2026 quarter, Life Insurance Corporation of India sales was Rs 239,866 Cr (+6.8% vs Jun 2025) and net profit was Rs 13,584 Cr.

What is the 52-week high and low of Life Insurance Corporation of India?

The 52-week high is Rs 468.48 and the 52-week low is Rs 360.75.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03