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LIC of India

Life Insurance Corporation of India

LICI NSE
₹408.00 +12.50 (+3.16%)
P/E
8.59
View as Markdown
MCP
Close 4 Nov 2026 ₹408.00 −40.05 −8.94% 1Y
Start ₹448.05

Key Fundamentals

LargecapInsuranceFinancial Services

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

ROCE
35.10%
Debt to Equity
0.00
EPS (TTM)
₹47.49
Book Value
₹140.36
Market Cap
—
P/E (TTM)
8.59
P/B
2.91
ROE
37.80%
Dividend Yield
2.53%
EBITDA
₹55,563 Cr
52W High
₹468.48
52W Low
₹360.75
Day Range
₹395.50 – ₹409.80
Volume
64,48,781

Peer Comparison

Financial Services › Insurance › Life Insurance

LIC of India peer comparison
LIC of India (this company)
₹408.008.59₹5,11,882 Cr2.912.53%37.80%35.10%₹9,94,088 Cr₹60,055 Cr
SBI Life Insurance
₹1,710.2064.61₹1,69,937 Cr8.360.16%13.70%15.00%₹1,21,160 Cr₹2,656 Cr
HDFC Life Insurance
₹532.5056.29₹1,15,614 Cr5.940.40%11.30%10.30%₹1,07,513 Cr₹2,048 Cr
Max Financial Services
₹1,244.30390.06₹41,931 Cr7.510.00%1.52%2.87%₹49,822 Cr₹137 Cr
Canara HSBC Life Insurance Company
₹122.8987.16₹11,515 Cr7.120.33%8.11%8.35%₹12,482 Cr₹134 Cr
Median 5 companies₹532.5064.61₹1,15,614 Cr7.120.33%11.30%10.30%₹1,07,513 Cr₹2,048 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. 1 company is not shown because they are not listed on an exchange we cover.

Tapetide Score

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

Overall score

69 Strong

Data confidence 97/100

Category scores

Quality
95
Strong
Returns, margins, earnings quality 22% weight
Valuation
79
Strong
Cheap vs sector & own history 24% weight
Growth
38
Weak
Sales & profit trajectory 9% weight
Financial Health
73
Strong
Solvency, leverage, coverage 9% weight
Momentum
44
Weak
Trend strength, vol-adjusted 12% weight
Ownership
64
Good
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 a good return on equity (ROE) track record: 3 Years ROE 45.6%

Weaknesses

2
  • The company has delivered a poor sales growth of 7.19% over past five years.
  • Tax rate seems low

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBullish559
OscillatorsNeutral252
Moving AveragesStrong Bullish307

Key readings

RSI (14)
59.64
Neutral
MACD (12,26,9)
−0.93
Bullish
SMA (50)
400.06
Bullish
SMA (200)
409.39
Bearish

As of

Analyst Rating

Based on 23 analysts
BUY87%

20 of 23 analysts rate Buy, 2 Hold, 1 Sell.

As of

BUY
20
87%
HOLD
2
9%
SELL
1
4%

Growth Rate

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

Revenue

Revenue growth by window
5Y+7.19%
3Y+7.61%
1Y+9.87%
TTM+10.13%

Net profit

Net profit growth by window
5Y+80.80%
3Y+16.86%
1Y+18.90%
TTM+23.25%

Operating cash flow

Operating cash flow growth by window
5YTurned negative
3YTurned negative
1YOutflow widened by ₹16,490 Cr
TTM—

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

Operating margin· change in pp

Operating margin growth by window
5Y+5.03 pp
3Y+0.64 pp
1Y−1.00 pp
TTM−0.86 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2019₹5,71,508 Cr
Mar 2020₹6,28,043 Cr
Mar 2021₹6,90,914 Cr
Mar 2022₹7,23,606 Cr
Mar 2023₹7,84,628 Cr
Mar 2024₹8,45,966 Cr
Mar 2025₹8,89,970 Cr
Mar 2026₹9,77,772 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2019₹2,627 Cr
Mar 2020₹2,710 Cr
Mar 2021₹2,974 Cr
Mar 2022₹4,125 Cr
Mar 2023₹35,997 Cr
Mar 2024₹40,916 Cr
Mar 2025₹48,320 Cr
Mar 2026₹57,453 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹54,631 Cr
Reported High Mean Low

Analyst consensus here uses a different definition from reported ebitda (they differ 1.8× on periods where both exist), so the forecast is shown on its own rather than joined to the reported line.

AI Analysis — Bull vs Bear

Figures as of 3 Nov 2026
AI opinion · based on fundamentals
Risk medium

Life Insurance Corporation of India trades at ₹395.5 as of 2026-11-03 with a market cap of ₹5,00,813 crore. The stock carries a PE of 8.33x with a robust ROE of 32.48% and zero debt, but has delivered a negative 1-year stock return of -13% and trades 15.6% below its 52-week high of ₹468.48.

Bull Case 5
  • Virtually debt-free balance sheet with a debt-to-equity ratio of 0, providing exceptional financial stability for a large insurance franchise
  • Strong return on equity of 32.48% as of 2026-11-03, supported by a 3-year average ROE of 46% and 5-year average ROE of 52%, indicating consistent and efficient capital deployment
  • Compounded profit growth of 17% over 3 years and 81% over 5 years reflects a meaningful earnings expansion trajectory
  • TTM profit growth of 23% indicates continued earnings momentum in the most recent period
  • Market cap of ₹5,00,813 crore underscores LIC's dominant scale in the Indian insurance sector, offering structural advantages in distribution and brand trust
Bear Case 7
  • Poor revenue growth with compounded sales expanding at only 7% over 5 years and 8% over 3 years, signalling limited top-line momentum for a company of this scale
  • Stock has declined 13% over the past 1 year and trades 15.6% below its 52-week high of ₹468.48, reflecting sustained negative price sentiment
  • Price-to-book ratio of 2.82x on a company with a low ROCE of 0.98% raises questions about whether the market is paying a premium for sub-par capital efficiency on total capital employed
  • ROCE of just 0.98% is extremely low, suggesting that while equity returns are high, overall capital efficiency across the balance sheet remains weak
  • The apparently low effective tax rate could normalize higher in future periods, which would compress net earnings and reduce EPS from the current ₹47.49
  • 3-year stock CAGR of only 7% significantly trails the broader Indian equity market returns over the same period, indicating persistent underperformance
  • Last year ROE of 38% shows a declining trend from the 3-year average of 46% and 5-year average of 52%, pointing to potential margin or efficiency erosion

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

AI News Digest

9h ago

TL;DR: LIC shows no material headwinds in the latest news cycle. The launch of three new products across pension, health, and cancer cover segments signals an active push to diversify revenue streams. Board-level appointments add experienced governance talent. The near-term outlook is steady, with product expansion likely supporting premium growth if distribution execution follows through.

Positives 1
  • Three new insurance products launched Oct 12

    LIC introduced New Jeevan Dhara-II, Health Shield, and New Cancer Cover for domestic sale starting October 19, 2026, broadening its product portfolio across pension, health, and critical illness segments.

Neutral 2
  • Five independent directors appointed Oct 7

    LIC appointed five independent directors for four-year terms, including former Federal Bank CEO Shyam Srinivasan and RBI Executive Director Ganesh Kumar Sundara Iyer, strengthening board governance.

  • CFO re-designation for Sonija M.S. Oct 8

    Sonija M.S. was re-designated as Chief (I/C) Finance & Accounts and classified as Senior Management Personnel effective October 8, 2026.

Quarterly Results

₹ Cr
LICI quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
1,90,163
2,03,033
2,14,054
2,38,717
2,11,952
2,31,132
2,03,751
2,43,134
2,24,671
2,41,524
2,35,954
2,76,744
2,39,866
Expenses
1,80,169
1,94,558
2,04,815
2,37,152
2,02,180
2,24,544
1,91,818
2,21,621
2,14,198
2,32,032
2,23,588
2,65,521
2,25,854
Operating Profit
9,994
8,475
9,239
1,564
9,773
6,588
11,934
21,514
10,474
9,492
12,366
11,222
14,012
OPM %
5%
4.2%
4.3%
0.7%
4.6%
2.9%
6%
9%
4.7%
3.9%
5%
4.1%
6%
Other Income
117
288
206
14,249
1,001
794
818
954
780
1,044
822
3,166
1,301
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
10,111
8,763
9,445
15,813
10,774
7,382
12,752
22,468
11,253
10,537
13,188
14,388
15,312
Tax %
14%
13%
15%
12%
15%
16%
14%
15%
15%
14%
15%
−63%
11%
Net Profit
9,634
8,032
9,434
13,842
10,527
7,723
11,009
19,039
10,955
10,096
12,908
23,467
13,584
EPS (₹)
7.62
6.35
7.49
10.94
8.34
6.11
8.7
15.05
8.66
7.98
10.22
18.55
10.74

Profit & Loss

₹ Cr
LICI profit and loss, annual, ₹ crore
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
5,71,508
6,28,043
6,90,914
7,23,606
7,84,628
8,45,966
8,89,970
9,77,772
9,94,088
Expenses
5,65,587
6,34,989
6,91,166
7,20,280
7,50,498
8,13,316
8,36,692
9,29,011
9,46,996
Operating Profit
5,920
−6,947
−252
3,326
34,130
32,651
53,278
48,761
47,092
OPM %
1%
−1.1%
0%
0.5%
4.3%
3.9%
6%
5%
4.7%
Other Income
2,615
20,870
12,820
9,248
7,800
14,829
3,495
5,421
6,333
Interest
0
0
0
0
0
0
0
0
0
Depreciation
336
379
417
436
466
466
506
707
0
PBT
8,199
13,544
12,151
12,138
41,463
47,014
56,267
53,475
53,425
Tax %
68%
80%
76%
66%
13%
13%
14%
−7%
—
Net Profit
2,627
2,710
2,974
4,125
35,997
40,916
48,320
57,453
60,055
EPS (₹)
—
—
—
3.26
28.46
32.34
38.2
45.42
47.49
Div. Payout %
2%
2%
0%
23%
5%
15%
16%
11%
—

Balance Sheet

₹ Cr
LICI balance sheet, annual, ₹ crore
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
100
100
100
6,325
6,325
6,325
6,325
6,325
Reserves
710
902
6,784
5,012
39,908
76,422
1,20,901
1,70,280
Borrowings
2,69,401
2,53,414
4
1
0
0
0
0
Other Liabilities
31,57,039
32,45,419
38,22,637
42,42,719
45,32,258
52,33,300
55,33,342
57,71,951
Total Liabilities
34,27,249
34,99,834
38,29,524
42,54,058
45,78,491
53,16,047
56,60,568
59,48,556
Fixed Assets
25,194
28,216
17,723
17,770
20,473
20,667
21,330
28,335
CWIP
710
734
148
199
331
403
326
419
Investments
29,00,287
29,76,100
35,17,445
39,26,211
42,43,008
49,76,133
52,98,429
55,56,359
Other Assets
5,01,059
4,94,784
2,94,208
3,09,878
3,14,678
3,18,844
3,40,483
3,63,444
Total Assets
34,27,249
34,99,834
38,29,524
42,54,058
45,78,491
53,16,047
56,60,568
59,48,556

Cash Flow

₹ Cr
LICI cash flow, annual, ₹ crore
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
13,274
54,367
80,602
−3,783
54,519
26,548
−9,721
−26,211
Investing
9,636
−40,415
1,48,447
12,531
−52,848
−25,695
41,408
36,693
Financing
−13,700
−18,664
−2,56,125
0
−949
−4,427
−3,794
−7,626
Net Cash Flow
9,210
−4,712
−27,077
8,748
722
−3,574
27,893
2,856
Free Cash Flow
11,281
53,447
86,765
−3,879
53,976
25,835
−10,435
−27,181
CFO/OP
500
−908
−27,549
108
143
64
−19
−42

Ratios

LICI financial ratios, annual
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
0
0
0
0
0
0
0
0
Cash Conversion Cycle
0
0
0
0
0
0
0
0
Working Capital Days
78
63
35
42
43
39
38
45
ROCE %
—
5%
9%
131%
143%
73%
53%
35%

Insights

Beta

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

Log in to view LIC of India insights

35 extracted metrics across FY19–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 90.00%
  • DIIs 6.17%
  • Public 1.84%
  • FIIs 1.55%
  • Others 0.44%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Documents

Frequently Asked Questions about LIC of India

What does Life Insurance Corporation of India do?
Life Insurance Corporation (LIC) is the largest insurance provider company in India. It has a market share of above 66.2% in new business premium. The company offers participating insurance products and non-participating products like unit-linked insurance products, saving insurance products, term…
Where is Life Insurance Corporation of India (LICI) listed?
Life Insurance Corporation of India trades as LICI on the NSE and under code 543526 on the BSE.
Which sector does Life Insurance Corporation of India belong to?
Life Insurance Corporation of India is classified under the Insurance sector, in the Life Insurance industry.
What is the PE ratio of Life Insurance Corporation of India?
Life Insurance Corporation of India trades at a PE ratio of 8.59 as of 4 Nov 2026, on earnings per share of ₹47.49, against a book value of ₹140.36 per share.
What is the 52-week high and low of Life Insurance Corporation of India?
Over the last 52 weeks Life Insurance Corporation of India has traded between ₹360.75 and ₹468.48 as of 4 Nov 2026.
Does Life Insurance Corporation of India pay dividends?
Life Insurance Corporation of India has a dividend yield of 2.53%.
What is the Return on Equity (ROE) of Life Insurance Corporation of India?
Life Insurance Corporation of India reported a return on equity of 37.80%. Its debt-to-equity ratio is 0.00.

Company Information

Life Insurance Corporation (LIC) is the largest insurance provider company in India. It has a market share of above 66.2% in new business premium. The company offers participating insurance products and non-participating products like unit-linked insurance products, saving insurance products, term insurance products, health insurance, and annuity & pension products.

Website licindia.in
Listed 17 May 2022
Face Value ₹10

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