ICICI Lombard General Insurance Co. Ltd. (ICICIGI) AI Stock Analysis

• Market Cap: ₹1.00T
• Dividend Yield: 0.67%
• Average Volume (3M): 38.72K
• Price to Earnings (P/E): 35.4
• Beta (1Y): 0.70
• Revenue Growth: 14.43%
• EPS Growth: 25.13%
• Country: IN
• Employees: 13,670
• Sector: Financial
• Sector Strength: 70
• Industry: Insurance - Diversified
• EPS (TTM): 16.35
• Shares Outstanding: 497,562,160
• 10 Day Avg. Volume: 61,417
• 30 Day Avg. Volume: 38,722
• PEG Ratio: 1.19
• Price to Book (P/B): 6.17
• Price to Sales (P/S): 3.72
• P/FCF Ratio: 97.63
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹2,118.75
• Price Target Upside: 5.20% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 4

• Rating: 72 Outperform
• Price Target: ₹2,243.00 ▲(11.37% Upside)

ICICI Lombard's strong financial performance and positive technical indicators are the primary drivers of its stock score. However, the relatively high valuation limits the score, as the stock appears expensive compared to peers. The absence of earnings call data and corporate events means these factors do not influence the score.

ICICI Lombard General Insurance Co. Ltd. Business Overview & Revenue Model

Company Description

ICICI Lombard General Insurance Company Limited provides various general insurance products and services in India. The company primarily offers motor, car, two wheeler, health, health booster, personal accident, travel, home, marine, NRI, business, third party, crop, rural, fire, engineering, liability, employee group, cattle, weather, and cyber insurance products; and reinsurance services. It serves customers through body corporates, as well as small, micro, and medium enterprises; state and central governments, government-owned enterprises, and rural customers; and agents, brokers, bancassurance, telesales, direct alliances, motor insurance service providers, and online platforms. The company was incorporated in 2000 and is based in Mumbai, India.

How the Company Makes Money

ICICI Lombard General Insurance Co. Ltd. generates revenue primarily through the underwriting of insurance policies across various segments including health, motor, and property. The company earns premiums from policyholders who pay for insurance coverage. A significant portion of its revenue comes from the motor and health insurance sectors, which are among the largest segments in the general insurance market. Additionally, ICICI Lombard invests the premiums it collects in various financial instruments to earn investment income, which is a crucial component of its revenue model. The company also collaborates with banks and other financial institutions to expand its distribution and enhance its market reach. Partnerships with vehicle manufacturers and healthcare providers further bolster its ability to offer competitive products and services. Profitability is maintained by managing claims efficiently and optimizing operational costs.

ICICI Lombard General Insurance Co. Ltd. Financial Statement Overview

Summary

ICICI Lombard demonstrates strong financial performance with robust revenue and profit growth, effective operational management, and cost efficiency. The balance sheet is solid with low leverage and high financial stability, though cash flows show some challenges in growth.

Income Statement

ICICI Lombard has demonstrated a strong revenue growth trend, with a significant increase from 2024 to 2025. The gross profit margin remains consistent at 100%, reflecting cost efficiency. Net profit margin improved from 8.8% in 2024 to 10.4% in 2025, indicating enhanced profitability. The company's EBIT and EBITDA margins are robust, showcasing effective operational management. Overall, the income statement shows solid growth and profitability.

Balance Sheet

The balance sheet reveals a healthy equity position with an equity ratio of approximately 21.7% in 2025, indicating strong financial stability. The debt-to-equity ratio is low at 0.005, suggesting minimal leverage risk. Return on equity (ROE) improved to 16.7% in 2025, showing efficient use of equity to generate profits. Overall, the balance sheet reflects financial soundness with low risk due to manageable debt levels.

Cash Flow

Cash flow analysis presents a mixed picture. The free cash flow decreased from 2024 to 2025, but the company maintains positive free cash flow and a healthy operating cash flow to net income ratio of 0.46. The decrease in free cash flow growth rate suggests potential challenges in cash generation. However, the company has a positive free cash flow to net income ratio of 0.36, indicating adequate cash generation relative to profits.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	248.15B	240.20B	204.98B	187.42B	168.76B	127.32B
Gross Profit	248.15B	240.20B	204.98B	187.42B	168.76B	127.32B
EBITDA	0.00	0.00	0.00	0.00	0.00	0.00
Net Income	26.75B	25.08B	19.19B	17.29B	12.71B	14.73B
Balance Sheet
Total Assets	720.20B	690.20B	633.08B	550.86B	508.48B	392.98B
Cash, Cash Equivalents and Short-Term Investments	0.00	31.00B	36.10B	2.03B	2.85B	2.28B
Total Debt	0.00	816.10M	1.67B	1.20B	3.42B	4.85B
Total Liabilities	558.64B	540.36B	503.58B	446.42B	416.56B	316.99B
Stockholders Equity	161.55B	144.85B	122.05B	104.44B	91.93B	75.99B
Cash Flow
Free Cash Flow	0.00	9.16B	22.16B	21.69B	7.33B	16.95B
Operating Cash Flow	0.00	11.47B	24.07B	22.90B	8.09B	17.74B
Investing Cash Flow	0.00	-11.37B	-19.21B	-16.85B	1.12B	-13.67B
Financing Cash Flow	0.00	-2.57B	-3.55B	-6.95B	-8.79B	-2.12B

ICICI Lombard General Insurance Co. Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2014.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ICICIGI, the sentiment is Positive. The current price of 2014 is above the 20-day moving average (MA) of 1947.60, above the 50-day MA of 1904.27, and above the 200-day MA of 1862.09, indicating a bullish trend. The MACD of 35.25 indicates Negative momentum. The RSI at 62.14 is Neutral, neither overbought nor oversold. The STOCH value of 80.16 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:ICICIGI.

ICICI Lombard General Insurance Co. Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ICICIGI	―	₹1.00T	35.45	―	0.67%	14.43%	25.13%
GODIGIT	―	₹327.83B	70.91	―	―	―	―
STARHEALTH	―	₹296.68B	50.28	―	―	28.04%	-38.44%
HDFCLIFE	―	₹1.60T	84.85	―	0.28%	-17.31%	11.68%
Sector *	―	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%

ICICI Lombard General Insurance Co. Ltd. Corporate Events

ICICI Lombard Releases Audited Financial Results for September 2025

ICICI Lombard General Insurance has published its audited financial results for the quarter and half-year ending September 30, 2025, in major newspapers. This publication, which includes a QR code for accessing detailed financials, reflects the company’s commitment to transparency and regulatory compliance, potentially impacting its market perception positively.

ICICI Lombard Releases Earnings Call Recording for Q2 FY2026

ICICI Lombard General Insurance Company Limited announced that it hosted an earnings conference call on October 14, 2025, to discuss its financial performance for the quarter and half-year ended September 30, 2025. The audio recording of this call has been made available on the company’s website, providing stakeholders with insights into the company’s financial health and strategic direction.

ICICI Lombard Allots Equity Shares to Employees

ICICI Lombard General Insurance Company Limited has announced the allotment of 13,958 equity shares under its employee stock option and stock unit schemes. This move, approved by a Whole-time Director, reflects the company’s commitment to incentivizing its employees, aligning their interests with the company’s growth, and maintaining a competitive edge in the insurance sector.

ICICI Lombard Allots Over 96,000 Equity Shares Under Employee Schemes

ICICI Lombard General Insurance Company Limited has announced the allotment of 96,554 equity shares on October 3, 2025, under its employee stock option schemes. This move, approved by a Whole-time Director, is part of the company’s strategy to incentivize and retain employees, aligning their interests with the company’s growth. The newly allotted shares will have the same rights as the existing shares, reflecting the company’s commitment to maintaining equity among its shareholders.

ICICI Lombard Allots 82,081 Equity Shares Under Employee Schemes

ICICI Lombard General Insurance Co. Ltd. has announced the allotment of 82,081 equity shares under its employee stock option schemes. This move, approved by a Whole-time Director, reflects the company’s commitment to rewarding its employees and aligning their interests with the company’s growth, potentially enhancing employee motivation and retention.

ICICI Lombard Hosts Analyst and Investor Meetings

ICICI Lombard General Insurance Company Limited announced the schedule of its analyst and institutional investor meetings held on August 20, 2025. The company clarified that no presentation was made, and no unpublished price-sensitive information was shared during these meetings, which reflects its commitment to transparency and regulatory compliance.

ICICI Lombard Faces Revised GST Demand, Plans Legal Response

ICICI Lombard General Insurance Company Limited has received a revised GST demand order from the Office of the Commissioner (Appeals) CGST, Central Excise & Customs, Guwahati. The revised order demands a GST payment of ₹26,58,640, along with interest and a penalty. The company plans to evaluate legal options and potentially appeal against this order, reflecting ongoing regulatory challenges and compliance efforts in its operations.