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ICICI Lombard General Insurance Company

ICICIGI NSE
₹1,596.30 No trade today
P/E
31.17
View as Markdown
MCP
Close 4 Nov 2026 ₹1,596.30 −404.70 −20.2% 1Y
Start ₹2,001.00

Key Fundamentals

MidcapInsuranceFinancial Services

Price-based figures as of · EPS basis: Standalone · TTM

ROCE
21.90%
Debt to Equity
0.00
EPS (TTM)
₹51.21
Book Value
₹376.60
Market Cap
—
P/E (TTM)
31.17
P/B
4.24
ROE
16.60%
Dividend Yield
0.44%
EBITDA
₹3,824 Cr
52W High
₹2,064.90
52W Low
₹1,423.10
Volume
0

Peer Comparison

Financial Services › Insurance › General Insurance

ICICI Lombard General Insurance peer comparison
ICICI Lombard General Insurance (this company)
₹1,596.3031.17₹80,888 Cr4.240.44%16.60%21.90%₹29,038 Cr₹2,555 Cr
GIC of India
₹323.856.40₹56,281 Cr0.774.15%14.60%17.40%₹52,763 Cr₹8,877 Cr
Star Health Insurance
₹530.5036.99₹30,850 Cr2.990.00%7.61%9.69%₹19,114 Cr₹844 Cr
New India Assurance Company
₹160.4534.28₹26,368 Cr0.940.96%4.92%4.29%₹49,962 Cr₹776 Cr
Go Digit General Insurance
₹257.1548.25₹24,008 Cr5.100.00%12.20%13.10%₹10,196 Cr₹492 Cr
Niva Bupa Health Insurance Company
₹77.1481.20₹14,080 Cr3.770.00%3.46%3.15%₹7,907 Cr₹174 Cr
Median 6 companies₹290.5035.64₹28,609 Cr3.380.22%9.91%11.40%₹24,076 Cr₹810 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

54 Average

Data confidence 97/100

Category scores

Quality
80
Strong
Returns, margins, earnings quality 22% weight
Valuation
48
Average
Cheap vs sector & own history 24% weight
Growth
50
Average
Sales & profit trajectory 9% weight
Financial Health
73
Strong
Solvency, leverage, coverage 9% weight
Momentum
21
Poor
Trend strength, vol-adjusted 12% weight
Ownership
51
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 25.7%

No weaknesses listed

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish964
OscillatorsBearish261
Moving AveragesStrong Bearish703

Key readings

RSI (14)
49.86
Neutral
MACD (12,26,9)
−1.02
Bearish
SMA (50)
1,568.29
Bullish
SMA (200)
1,732.66
Bearish

As of

Analyst Rating

Based on 24 analysts
BUY50%

12 of 24 analysts rate Buy, 11 Hold, 1 Sell.

As of

BUY
12
50%
HOLD
11
46%
SELL
1
4%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Sep 2026 against Sep 2025.

Revenue

Revenue growth by window
10Y+16.16%
5Y+17.29%
3Y+14.73%
1Y+12.66%
TTM+13.98%

Net profit

Net profit growth by window
10Y+18.52%
5Y+13.48%
3Y+17.04%
1Y+10.53%
TTM−8.78%

Operating cash flow

Operating cash flow growth by window
10Y+17.77%
5Y+8.13%
3Y+4.62%
1Y+128.60%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+1.16 pp
5Y−3.22 pp
3Y+6.75 pp
1Y−0.40 pp
TTM−2.82 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹7,520 Cr
Mar 2018₹6,912 Cr
Mar 2019₹11,163 Cr
Mar 2020₹11,517 Cr
Mar 2021₹12,161 Cr
Mar 2022₹16,026 Cr
Mar 2023₹17,876 Cr
Mar 2024₹20,572 Cr
Mar 2025₹23,961 Cr
Mar 2026₹26,994 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹702 Cr
Mar 2018₹862 Cr
Mar 2019₹1,049 Cr
Mar 2020₹1,194 Cr
Mar 2021₹1,473 Cr
Mar 2022₹1,271 Cr
Mar 2023₹1,729 Cr
Mar 2024₹1,919 Cr
Mar 2025₹2,508 Cr
Mar 2026₹2,772 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹3,531 Cr −7.7% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 30 Oct 2026
AI opinion · based on fundamentals
Risk medium

ICICI Lombard General Insurance trades at ₹1,580.8 as of 2026-10-30, with a market cap of ₹78,979 crore and a PE of 30.87x. The company is virtually debt-free with a consistent ROE averaging 17% over five years, though TTM profit growth has turned negative at -9% even as revenue grew 14% TTM.

Bull Case 7
  • Debt-free balance sheet with a debt-to-equity ratio of 0, providing strong financial flexibility and resilience against economic downturns
  • Consistent long-term revenue compounding at 16% CAGR over 10 years and 17% over 5 years, reflecting durable demand for general insurance products in India
  • Steady ROE profile averaging 17-18% across 3-year, 5-year, and 10-year horizons, indicating disciplined capital allocation and underwriting profitability
  • 10-year compounded profit growth of 18% demonstrates the company's ability to scale earnings over full market cycles
  • Healthy dividend payout ratio of 25.7% with a current yield of 0.45%, showing commitment to returning capital to shareholders
  • TTM revenue growth of 14% suggests the top line continues to expand at a solid pace even as profitability faces near-term pressure
  • Stock is trading 23.4% below its 52-week high of ₹2,064.9, which may reflect some de-rating of near-term headwinds already priced in
Bear Case 6
  • TTM profit growth has turned negative at -9%, a sharp reversal from the 10-year CAGR of 18%, signalling margin or loss-ratio pressures
  • PE of 30.87x is elevated for a general insurer facing declining profitability, implying the market is pricing in a recovery that may not materialise quickly
  • Stock CAGR of -18% over 1 year and only 2% over 5 years indicates prolonged underperformance relative to broader Indian market returns
  • 3-year compounded profit growth of 14% lags the 3-year revenue growth of 15%, pointing to slight operating leverage erosion
  • ROCE of -8.32% raises questions about the return profile when viewed on a capital-employed basis, even though the metric can be less meaningful for insurers
  • Dividend yield of just 0.45% offers limited income cushion for investors during a period of negative price returns

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: ICICI Lombard is delivering solid earnings growth with Q2FY27 PAT up 15% YoY and a healthy interim dividend of ₹7 per share. No material headwinds have surfaced in recent news flow. Administrative updates around the RTA office shift and a one-off investor meet cancellation are non-events. The earnings trend is positive, and continued investor engagement through November meetings suggests management confidence in the outlook.

Positives 1
  • Q2 PAT up 15% YoY Oct 14

    ICICI Lombard reported net profit of ₹946 crore for Q2FY27, a 15% YoY increase. An interim dividend of ₹7 per share was declared with record date October 23.

Neutral 2
  • RTA corporate office relocation Nov 4

    KFin Technologies, ICICI Lombard's RTA, will shift its Hyderabad corporate office to Rajapushpa West Avenue effective December 1, 2026. Registered office and digital contacts remain unchanged.

  • Oct 23 investor meet cancelled Oct 22

    Analyst/investor meeting scheduled for October 23 was cancelled due to unavoidable circumstances. Five in-person Mumbai meetings planned for November 2026 remain on track.

Quarterly Results

₹ Cr
ICICIGI quarterly results, ₹ crore
Particulars Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
5,271
5,194
5,391
5,601
6,147
6,161
6,051
6,396
6,869
6,905
6,825
7,088
8,220
Expenses
4,509
4,639
4,701
4,831
5,207
5,199
5,443
5,415
5,825
6,051
6,138
6,566
7,005
Operating Profit
762
555
690
770
940
962
609
981
1,044
854
686
522
1,215
OPM %
14%
11%
13%
14%
15%
16%
10%
15%
15%
12%
10%
7%
15%
Other Income
2
19
8
4
−21
−2
60
13
32.09
16
32
14
31.02
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
PBT
764
574
698
774
919
960
668
994
1,077
870
718
536
1,247
Tax %
24%
25%
26%
25%
24%
25%
24%
25%
24%
24%
24%
25%
24%
Net Profit
577
431
520
580
694
724
510
747
820
659
547
403
946
EPS (₹)
11.75
8.76
10.54
11.77
14.03
14.63
10.28
15.04
16.47
13.23
10.96
8.08
18.94

Profit & Loss

₹ Cr
ICICIGI profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
4,234
6,033
7,520
6,912
11,163
11,517
12,161
16,026
17,876
20,572
23,961
26,994
29,038
Expenses
4,456
5,269
6,601
7,174
9,494
9,745
10,090
15,010
16,612
17,918
20,554
23,264
25,760
Operating Profit
−221
764
919
−262
1,669
1,772
2,072
1,016
1,264
2,654
3,407
3,731
3,277
OPM %
−5%
13%
12%
−3.8%
15%
15%
17%
6%
7%
13%
14%
14%
11%
Other Income
992
0
−2
1,569
−2
15
12
809
991
35
39
93
94
Interest
12
0
0
59
70
0
0
0
0
0
0
0
0
Depreciation
54
57
7
51
0
90
130
141
142
134
124
165
0
PBT
705
708
910
1,196
1,598
1,697
1,954
1,684
2,113
2,555
3,321
3,659
3,371
Tax %
17%
28%
23%
28%
34%
30%
25%
24%
18%
25%
24%
24%
—
Net Profit
585
507
702
862
1,049
1,194
1,473
1,271
1,729
1,919
2,508
2,772
2,555
EPS (₹)
13.11
11.34
15.56
18.98
23.1
26.27
32.4
25.89
35.21
38.94
50.6
55.61
51.21
Div. Payout %
15%
26%
22%
17%
26%
13%
25%
35%
28%
28%
25%
24%
—

Balance Sheet

₹ Cr
ICICIGI balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital
447
448
451
454
454
454
455
491
491
493
496
498
500
Reserves
2,439
2,789
3,450
4,087
4,946
5,680
7,144
8,702
9,953
11,712
13,989
16,135
18,324
Borrowings
0
0
485
485
485
485
485
255
35
35
0
0
0
Other Liabilities
11,760
12,440
18,965
24,723
27,517
30,423
31,214
41,401
44,607
51,068
54,660
59,477
65,412
Total Liabilities
14,646
15,676
23,351
29,750
33,403
37,042
39,298
50,848
55,086
63,308
69,145
76,111
84,236
Fixed Assets
381
510
516
368
1,965
664
717
941
883
930
728
834
862
CWIP
9
10
11
38
17
12
14
11
25
94
74
88
0
Investments
10,200
11,426
14,806
18,193
20,714
26,327
30,788
38,412
42,836
48,584
53,508
58,338
64,332
Other Assets
4,056
3,730
8,018
11,151
10,707
10,039
7,779
11,485
11,342
13,700
14,835
16,851
19,041
Total Assets
14,646
15,676
23,351
29,750
33,403
37,042
39,298
50,848
55,086
63,308
69,145
76,111
84,236

Cash Flow

₹ Cr
ICICIGI cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
−98
511
1,628
2,390
2,976
3,433
1,774
809
2,290
2,407
1,147
2,622
Investing
171
−310
−1,990
−1,896
−2,856
−3,382
−1,367
135
−1,685
−1,921
−1,137
−1,733
Financing
−93
−148
361
−96
−310
−420
−212
−879
−695
−355
−257
−336
Net Cash Flow
−20
53
−1
398
−190
−369
195
65
−90
131
−247
554
Free Cash Flow
−150
459
1,574
2,315
2,860
3,130
1,695
737
2,170
2,217
918
2,380
CFO/EBITDA
44
67
177
−912
178
222
103
117
206
115
57
105

Ratios

ICICIGI financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
0
0
0
0
292
0
0
0
0
0
0
0
Cash Conversion Cycle
0
0
0
0
292
0
0
0
0
0
0
0
Working Capital Days
−576
−532
−521
−720
−564
−670
−705
−690
−685
−661
−603
−599
ROCE %
27%
23%
24%
17%
31%
27%
27%
19%
21%
23%
24%
22%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view ICICI Lombard General Insurance insights

38 extracted metrics across FY08–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 51.28%
  • DIIs 23.93%
  • FIIs 18.34%
  • Public 5.08%
  • Others 1.36%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about ICICI Lombard General Insurance Company

What does ICICI Lombard General Insurance Company Ltd do?
ICICI Lombard General Insurance Co. Ltd is one of the leading and established private sector general insurance companies in India. It offers a well-diversified range of products and risk management solutions through multiple distribution channels.
Where is ICICI Lombard General Insurance Company Ltd (ICICIGI) listed?
ICICI Lombard General Insurance Company Ltd trades as ICICIGI on the NSE and under code 540716 on the BSE.
Which sector does ICICI Lombard General Insurance Company Ltd belong to?
ICICI Lombard General Insurance Company Ltd is classified under the Insurance sector, in the General Insurance industry.
What is the PE ratio of ICICI Lombard General Insurance Company Ltd?
ICICI Lombard General Insurance Company Ltd trades at a PE ratio of 31.17 as of 4 Nov 2026, on earnings per share of ₹51.21, against a book value of ₹376.6 per share.
What is the 52-week high and low of ICICI Lombard General Insurance Company Ltd?
Over the last 52 weeks ICICI Lombard General Insurance Company Ltd has traded between ₹1,423.1 and ₹2,064.9 as of 4 Nov 2026.
Does ICICI Lombard General Insurance Company Ltd pay dividends?
ICICI Lombard General Insurance Company Ltd has a dividend yield of 0.44%.
What is the Return on Equity (ROE) of ICICI Lombard General Insurance Company Ltd?
ICICI Lombard General Insurance Company Ltd reported a return on equity of 16.60%. Its debt-to-equity ratio is 0.00.

Company Information

ICICI Lombard General Insurance Co. Ltd is one of the leading and established private sector general insurance companies in India. It offers a well-diversified range of products and risk management solutions through multiple distribution channels. It was established in 2001 as a JV between ICICI Bank and Fairfax Financial Holdings Ltd. ICICI held 64% stake and the rest was held by JV partner. Fairfax Financial exited in 2019 by selling its remaining 5% stake in the company for ~2,600 crores.

Website icicilombard.com
CEO Mr. Sanjeev Radheyshyam Mantri B.Com, CA
Employees 15,123
Listed 27 Sep 2017
Face Value ₹10

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