LICI

Life Insurance Corporation Of India share price & financials

Price
₹440.15
Market cap
₹5.3L Cr
Sector
Financial Services
Calls analysed
7
Latest concall · Q1 FY27 · call held 06 Aug 2026

Life Insurance Corporation Of India Q1 FY27

PAT ₹13,492 cr +23%AUM ₹59,39,384.39 cr +4%

What went well

  • Profit After Tax (PAT) grew 22.81% YoY to ₹13,492 crore.
  • Net VNB Margin improved by 750 basis points to 22.9% from 15.4% in Q1 FY26.
  • Individual New Business Premium Income increased by 14.48% YoY to ₹14,351 crore.

What to watch

  • Overall market share by first year premium income decreased to 60.10% from 63.51% in Q1 FY26.
  • ULIP premium reduced due to market volatility.
Read the full call →

What Life Insurance Corporation Of India does

Life Insurance Corporation of India is the country's largest and market-leading life insurer, selling savings, protection, annuity, pension and micro-insurance policies to individuals and groups. It distributes through the largest agency force in India alongside bancassurance, brokers, corporate agents and a growing digital channel, and services policies through a pan-India office network. It also administers several government social-security insurance schemes.

Segments

  • Individual Business
  • Group Business
  • Participating (Par) products
  • Non-Participating (Non-par) products
Market position
Largest life insurer in India (market leader)
Agency force
14.72 lakh agents (largest agency force in India)
Branch offices
2,130
Divisional offices
113
Satellite offices
1,584
In-force products
58 insurance products
Founded 1956Headquarters Mumbai, India Company website

Guidance record · Q1 FY27

what the last two calls moved 14 tracked 4 delivered 2 missed 8 open
  • Net VNB Margin delivered said Q3 FY25 Promised: Better than 17.1% going forward Q1 FY27: Reported Net VNB Margin of 22.9%, continuing to significantly exceed the original target of >17.1%.
  • FRA Initiation went quiet said Q3 FY25 Promised: Start Forward Rate Agreement hedging within FY25 Q1 FY27: No mention of Forward Rate Agreements in the quarterly results or call. The promise remains unaddressed since its FY25 deadline passed.
  • Digital Interface Quality on track said Q3 FY26 Promised: Launch more features for a much more digital-savvy interface this calendar year (2026) Q1 FY27: Progress continues with the launch of MyLIC and Super Sales Saathi mobile applications, and a 25.56% YoY increase in policies completed via the Ananda app.

All 14 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 6.8%, net profit up 22.8% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue2,30,331 2,02,823 2,42,479 2,23,917 2,40,690 +4%2,35,467 +16%2,76,206 +14%2,39,145 +7%
EBITDA7,977 11,985 21,492 11,857 10,546 +32%14,080 +17%11,200 −48%13,936 +18%
Net profit7,621 11,056 19,013 10,987 10,053 +32%12,958 +17%23,420 +23%13,492 +23%
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 −54.0% 1Y

₹400₹600₹800Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 6 Nov 2025Q3 FY26 — 12 Feb 2026Q4 FY26 — 21 May 2026Q1 FY27 — 6 Aug 2026

1Y: ₹877.65 on 10 Sept 2025 → ₹404.1. High ₹924.15 (7 Nov 2025), low ₹387.55 (6 Aug 2026).

How the price took the results

close before → close after

Q1 FY27
−1.4%
6 Aug
Q4 FY26
−0.0%
21 May
Q3 FY26
+0.6%
12 Feb
Q2 FY26
−1.1%
6 Nov

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

Revenue grew 7.6% a year over 3 years, FY23 to FY26. Operating margin widened to 4.9%.

Year endingFY23FY24FY25FY26
Revenue₹784.0k Cr₹843.0k Cr₹886.8k Cr₹976.3k Cr
Operating profit₹32.6k Cr₹31.9k Cr₹52.5k Cr₹47.7k Cr
Operating margin4.2%3.8%5.9%4.9%
Interest₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Depreciation₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Net profit₹37.2k Cr₹40.7k Cr₹48.2k Cr₹57.4k Cr
Net margin4.7%4.8%5.4%5.9%
Cash from operations₹59.7k Cr₹28.9k Cr₹-6.8k Cr₹-25.4k Cr
Free cash flow₹59.2k Cr₹28.4k Cr₹-7.5k Cr₹-26.4k Cr
ROCE148.0%73.0%54.0%35.0%
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 endingFY21FY22FY23FY24FY25FY26
Equity capital₹100 Cr₹6.3k Cr₹6.3k Cr₹6.3k Cr₹6.3k Cr₹6.3k Cr
Reserves₹6.3k Cr₹4.1k Cr₹39.3k Cr₹75.6k Cr₹135.6k Cr₹169.0k Cr
Borrowings₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹1 Cr₹0 Cr
Other liabilities₹3805.4k Cr₹4220.2k Cr₹4504.8k Cr₹5203.6k Cr₹5769.3k Cr₹5729.1k Cr
Total liabilities₹3811.8k Cr₹4230.6k Cr₹4550.5k Cr₹5285.5k Cr₹5911.3k Cr₹5904.5k Cr
Fixed assets₹17.7k Cr₹17.7k Cr₹20.4k Cr₹20.6k Cr₹4.5k Cr₹28.3k Cr
Capital work in progress₹148 Cr₹198 Cr₹331 Cr₹402 Cr₹0 Cr₹419 Cr
Investments₹3506.9k Cr₹3911.7k Cr₹4227.9k Cr₹4958.5k Cr₹5571.6k Cr₹5521.9k Cr
Other assets₹287.0k Cr₹301.0k Cr₹301.8k Cr₹306.0k Cr₹335.1k Cr₹353.8k Cr
Total assets₹3811.8k Cr₹4230.6k Cr₹4550.5k Cr₹5285.5k Cr₹5911.3k Cr₹5904.5k 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 Jun 2025, DIIs trimmed −0.38 pp while FIIs added +0.33 pp. The shareholder count shrank 5% to 21,52,897.

Promoters
96.5%
FIIs
0.4%
DIIs
1.0%
Public
2.1%

Since Jun 2025

  • DIIs −0.38 pp
  • FIIs +0.33 pp
  • Public +0.04 pp

How it drifted, 12 quarters

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 96.5%, FIIs 0.1%, DIIs 0.8%, Public 2.5%.Dec '23: Promoters 96.5%, FIIs 0.1%, DIIs 1.0%, Public 2.4%.Mar '24: Promoters 96.5%, FIIs 0.1%, DIIs 0.8%, Public 2.5%.Jun '24: Promoters 96.5%, FIIs 0.2%, DIIs 0.9%, Public 2.4%.Sep '24: Promoters 96.5%, FIIs 0.2%, DIIs 1.2%, Public 2.2%.Dec '24: Promoters 96.5%, FIIs 0.1%, DIIs 1.3%, Public 2.1%.Mar '25: Promoters 96.5%, FIIs 0.1%, DIIs 1.3%, Public 2.1%.Jun '25: Promoters 96.5%, FIIs 0.1%, DIIs 1.4%, Public 2.0%.Sep '25: Promoters 96.5%, FIIs 0.1%, DIIs 1.4%, Public 2.0%.Dec '25: Promoters 96.5%, FIIs 0.2%, DIIs 1.3%, Public 2.0%.Mar '26: Promoters 96.5%, FIIs 0.3%, DIIs 1.3%, Public 1.9%.Jun '26: Promoters 96.5%, FIIs 0.4%, DIIs 1.0%, Public 2.1%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Life Insurance Corporation Of India above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
President Of India 96.50%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 LICI

Filings to Aug 2026

17 new, 8 added, 0 trimmed, 0 sold out — net +1688.16 L shares (+833.0%).

Held by funds
₹7.9k Cr
30 schemes
Biggest holder
SBI Aggressive Hybrid Fund
₹2.1k Cr · 2.4% of that fund
SchemeHoldingLast month
SBI Aggressive Hybrid Fund SBI Mutual Fund₹2.1k Crnew
SBI Focused Fund SBI Mutual Fund₹1.8k Crnew
SBI Large Cap Fund SBI Mutual Fund₹535 Crnew
SBI Flexicap Fund SBI Mutual Fund₹514 Crnew
SBI Dividend Yield Fund SBI Mutual Fund₹328 Crnew
SBI Children's Fund - Investment Plan (Erstwhile known as SBI Magnum Children's Benefit Fund- IP) SBI Mutual Fund₹293 Crnew
SBI Contra Fund SBI Mutual Fund₹259 Crheld
Nippon India Focused Fund Nippon India Mutual Fund₹215 Crnew

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

8 added, 0 trimmed — net +16.88 cr shares (+833.0%)

Funds are sitting on
+5%
vs est. average cost
Held by funds
₹7.9k Cr
30 schemes · ≈ 1.6% of the company
Biggest holder
SBI Aggressive Hybrid Fund
₹2.1k Cr · 2.4% of that fund
Longest holder
SBI Balanced Advantage Fund
4y 4m · since May '22

Shares held by these funds −46%

Aug '23 2.03 cr shares Jul '26

All earnings calls (7)

Read the Q1 FY27 call →

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