CANHLIFE
Canara HSBC Life Insurance Company share price & financials
- Price
- ₹149.74
- Market cap
- ₹14.9k Cr
- Sector
- Financial Services
- Calls analysed
- 5
Canara HSBC Life Insurance Company Limited Q1 FY27
What went well
- AP growth of 19% year-on-year, aligning with the stated guidance of 18% to 20% growth.
- Value of new business (VNB) stood at INR124 crores, registering a growth of 29% year-on-year.
- VNB margin improved to 21.1%, which is higher by 160 basis points over Q1 FY26.
What to watch
- Total expense ratio increased to 20.7% from 19.6% in Q1 FY26, primarily due to the GST change.
- ULIP contribution reduced by 13% year-on-year due to volatile equity markets.
What Canara HSBC Life Insurance Company Limited does
Canara HSBC Life Insurance is a bancassurance-led life insurance company incorporated in 2007 as a joint venture between Canara Bank (51%), HSBC Insurance (Asia Pacific) Holdings (26%), with Punjab National Bank (23%) as an investor-shareholder. It underwrites and sells individual and group life insurance products - protection/term plans, savings and ULIP plans, retirement/annuity solutions, credit life and employee-benefit covers - mainly through its bank partners' branch networks, supplemented by regional rural banks, a newly launched agency channel, and digital/direct distribution. It earns premium income (new business plus renewals) on policies sold across these channels and manages the resulting policyholder funds across linked and non-linked (debt/equity) investment portfolios.
Segments
- Protection
- Savings (Traditional/Par & Non-Par)
- ULIP (Unit Linked Insurance Plans)
- Annuity/Retirement
- Group business
- Bancassurance network via Canara Bank
- 9,800+ branches
- Rural distribution via Regional Rural Banks
- 4,648+ branches across 6 RRBs in 6 states
- Company's own branch offices
- 100+ pan-India (as of 31 March 2025)
- Total customer base
- ~100 Mn total customers, ~80 Mn addressable base
- Lives insured (individual + group, FY25)
- 82 lakh+
- Agency channel distributors onboarded
- ~500 (since launch in October 2025)
Guidance record · Q1 FY27
what the last two calls moved 14 tracked 5 delivered 1 missed 8 open- VNB Margin delivered said Q2 FY26 Promised: Inching towards 20% for FY26 Q1 FY27: Promise period concluded. No new updates.
- Non-PAR Book Hedging Ratio went quiet said Q2 FY26 Promised: Increase hedging to 85-90% in the Medium Term Q1 FY27: No update provided on the hedging ratio for the second consecutive quarter.
- Alternate Business Share of WPI revised up said Q4 FY26 Promised: Increase share of alternate business to 15% of WPI over next three years Q1 FY27: Management stated the alternate channel is now at ~10% and revised the 3-year target upwards to a '15% to 20% contribution'.
All 14 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 19.8%, net profit up 21.7% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3,323 | 1,516 | 2,783 | 3,632 | 2,348 −29% | 4,202 +177% | 1,374 −51% | 4,351 +20% |
| EBITDA | 6 | -23 | 34 | 6 | 16 +167% | -70 −204% | 116 +241% | 0 −100% |
| Net profit | 37 | 29 | 32 | 23 | 41 +11% | 28 −3% | 35 +9% | 28 +22% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +3.7% YTD
YTD: ₹146.48 on 1 Jan 2026 → ₹151.92. High ₹157.23 (4 Sept 2026), low ₹134.59 (18 May 2026).
How the price took the results
close before → close after
- Q1 FY27
- +0.0%
- 20 Jul
- Q4 FY26
- −2.4%
- 28 Apr
- Q3 FY26
- −1.9%
- 21 Jan
- Q2 FY26
- −0.2%
- 27 Oct
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
| Year ending | FY26 |
|---|---|
| Revenue | ₹11.6k Cr |
| Operating profit | ₹68 Cr |
| Operating margin | 0.6% |
| Interest | ₹0 Cr |
| Depreciation | ₹0 Cr |
| Net profit | ₹127 Cr |
| Net margin | 1.1% |
| ROCE | 8.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹950 Cr | ₹950 Cr | ₹950 Cr | ₹950 Cr | ₹950 Cr | ₹950 Cr |
| Reserves | ₹330 Cr | ₹340 Cr | ₹403 Cr | ₹469 Cr | ₹593 Cr | ₹655 Cr |
| Borrowings | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹250 Cr |
| Other liabilities | ₹21.3k Cr | ₹25.9k Cr | ₹30.0k Cr | ₹37.3k Cr | ₹43.9k Cr | ₹46.2k Cr |
| Total liabilities | ₹22.6k Cr | ₹27.2k Cr | ₹31.3k Cr | ₹38.8k Cr | ₹45.5k Cr | ₹48.1k Cr |
| Fixed assets | ₹37 Cr | ₹70 Cr | ₹73 Cr | ₹77 Cr | ₹39 Cr | ₹31 Cr |
| Capital work in progress | ₹7 Cr | ₹4 Cr | ₹5 Cr | ₹2 Cr | ₹0 Cr | ₹6 Cr |
| Investments | ₹21.9k Cr | ₹26.3k Cr | ₹30.2k Cr | ₹37.4k Cr | ₹44.1k Cr | ₹46.1k Cr |
| Other assets | ₹671 Cr | ₹875 Cr | ₹1.1k Cr | ₹1.3k Cr | ₹1.3k Cr | ₹1.9k Cr |
| Total assets | ₹22.6k Cr | ₹27.2k Cr | ₹31.3k Cr | ₹38.8k Cr | ₹45.5k Cr | ₹48.1k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Dec 2025, DIIs trimmed −1.18 pp while FIIs added +0.85 pp. The shareholder count shrank 3% to 84,466.
- Promoters
- 62.0%
- FIIs
- 5.4%
- DIIs
- 29.7%
- Public
- 2.5%
- Others
- 0.4%
Since Dec 2025
- DIIs −1.18 pp
- FIIs +0.85 pp
- Others +0.17 pp
How it drifted, 3 quarters
Over this window DIIs fell from 30.9% to 29.7% — −1.2 pp.
Ownership split by quarter, oldest first. Dec '25: Promoters 62.0%, FIIs 4.6%, DIIs 30.9%, Public 2.3%, Others 0.3%.Mar '26: Promoters 62.0%, FIIs 5.7%, DIIs 29.8%, Public 2.3%, Others 0.3%.Jun '26: Promoters 62.0%, FIIs 5.4%, DIIs 29.7%, Public 2.5%, Others 0.4%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Mirae Asset Eless Tax Saver Fund Mutual fund newly disclosed 4.03% held
- ICICI Prudential Balanced Advantage Fund Mutual fund newly disclosed 3.30% held
- DSP Regular Savings Fund Mutual fund newly disclosed 2.85% held
The same filing shows 1 holder trimming and 3 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Canara HSBC Life Insurance Company Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Canara Bank Bank | 36.50% | unchanged |
| HSBC Insurance (Asia-Pacific) Holdings Limited | 25.50% | unchanged |
| Punjab National Bank Bank | 13.00% | unchanged |
| HDFC Value Fund Mutual fund | 4.09% | −0.26 pp |
| Mirae Asset Eless Tax Saver Fund Mutual fund | 4.03% | newly disclosed |
| ICICI Prudential Balanced Advantage Fund Mutual fund | 3.30% | newly disclosed |
| DSP Regular Savings Fund Mutual fund | 2.85% | newly disclosed |
| Pictet - Indian Equities Global fund house | 1.45% | unchanged |
| The Hongkong And Shanghai Banking Corp.Ltd. FPI fund | 0.00% | unchanged |
| CRMF Trustee Private Limited | 0.00% | unchanged |
| Can Fin Homes Limited | 0.00% | unchanged |
| Karnataka Grameena Bank | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in CANHLIFE
Filings to Aug 2026
0 new, 4 added, 1 trimmed, 0 sold out — net +0.07 L shares (+0.0%).
- Held by funds
- ₹550 Cr
- 7 schemes
- Biggest holder
- HDFC Balanced Advantage Fund
- ₹436 Cr · 0.4% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| HDFC Balanced Advantage Fund HDFC Mutual Fund | ₹436 Cr | held | Oct '25 |
| HDFC Multi Cap Fund HDFC Mutual Fund | ₹104 Cr | held | Oct '25 |
| Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund | ₹6 Cr | +0.05 L | Mar '26 |
| SBI Nifty Smallcap 250 Index Fund SBI Mutual Fund | ₹3 Cr | +0.02 L | Mar '26 |
| Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund | ₹1 Cr | +0.00 L | Mar '26 |
| SBI Nifty 500 Index Fund SBI Mutual Fund | ₹0 Cr | −0.00 L | Mar '26 |
| SBI Nifty Small Cap 250 ETF SBI Mutual Fund | ₹0 Cr | +0.00 L | May '26 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
4 added, 1 trimmed — net +6,755 shares (+0.0%)
- Funds are sitting on
- +27%
- vs est. average cost
- Held by funds
- ₹550 Cr
- 7 schemes · ≈ 3.8% of the company
- Biggest holder
- HDFC Balanced Advantage Fund
- ₹436 Cr · 0.4% of that fund
Shares held by these funds +5%
Oct '25 3.75 cr shares Jul '26
All earnings calls (4)
Read the Q1 FY27 call →Learn to analyse Canara HSBC Life Insurance Company Limited
Guides on how to read this kind of business and the numbers that matter.