ICICI Prudential Life Insurance Co. Ltd. (ICICIPRULI) AI Stock Analysis

• Market Cap: ₹968.93B
• Dividend Yield: 0.13%
• Average Volume (3M): 30.74K
• Price to Earnings (P/E): 70.7
• Beta (1Y): 1.08
• Revenue Growth: -42.13%
• EPS Growth: 48.75%
• Country: IN
• Employees: 20,318
• Sector: Financial
• Sector Strength: 70
• Industry: Insurance - Life
• EPS (TTM): 2.70
• Shares Outstanding: 1,447,781,500
• 10 Day Avg. Volume: 26,372
• 30 Day Avg. Volume: 30,742
• PEG Ratio: 1.79
• Price to Book (P/B): 6.93
• Price to Sales (P/S): 1.16
• P/FCF Ratio: -8.55
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 55 Neutral
• Price Target: ₹686.00 ▲(2.50% Upside)

The overall stock score of 55 reflects a mixed financial performance with strong operational efficiency but challenges in revenue growth and cash flow. Technical indicators suggest a neutral trend with weak momentum. The high P/E ratio indicates potential overvaluation, and the low dividend yield offers limited income potential.

Positive Factors

High Operating Efficiency

A 61.64% EBIT/EBITDA margin indicates durable operating efficiency and tight expense control across products. Over the medium term this supports sustainable underwriting profitability, funds product development and distribution, and provides a buffer versus cyclical premium or investment volatility.

Conservative Leverage

A debt-to-equity ratio of 0.21 reflects conservative financial leverage for an insurer, reducing solvency and liquidity risk. This structural strength preserves capital flexibility for regulatory needs, claim stress, or strategic investments without requiring immediate external financing.

Strong Bancassurance Distribution

The JV with ICICI Bank and Prudential plus bank partnerships create entrenched bancassurance distribution and brand credibility. That sustained channel access lowers customer acquisition costs and supports consistent premium flows, a durable advantage against new entrants over months.

Negative Factors

Declining Revenue

TTM revenue decline of -8.5% signals weakening new business or lapses in renewals. Over 2-6 months this shrinks scale economics, raises per-policy acquisition costs, and can erode margins and return on equity unless addressed through product, pricing, or distribution adjustments.

Weak Cash Generation

Negative operating and free cash flows on a trailing basis show cash earnings lag accounting profits, constraining liquidity to pay claims, invest in growth, or shore up regulatory capital. Persistent cash shortfalls could force capital raises or require tightened underwriting and expense control.

Low Net Profitability

A net margin of 1.78% despite high operating margins implies significant non-operating costs, reserve builds, or investment shortfalls. This limits retained earnings and capital accumulation, weakening the company's ability to fund growth and strengthen solvency over the medium term.

ICICI Prudential Life Insurance Co. Ltd. Business Overview & Revenue Model

Company Description

ICICI Prudential Life Insurance Company Limited provides life insurance, pension, and health insurance products to individuals and groups in India. The company also provides term life, health, savings, annuity, and retirement insurance products; and pension fund management services. It distributes its products through individual and corporate agents, banks, and brokers, as well as through its own sales force and website. The company was incorporated in 2000 and is based in Mumbai, India. ICICI Prudential Life Insurance Company Limited operates as a subsidiary of ICICI Bank Limited.

How the Company Makes Money

ICICI Prudential Life Insurance generates revenue primarily through the sale of life insurance policies, which include premium payments made by policyholders. The company earns money from both traditional life insurance products, such as endowment plans and term insurance, as well as unit-linked insurance plans (ULIPs) where premiums are invested in equity and debt markets. Additionally, ICICIPRULI collects investment income from the funds managed on behalf of policyholders. A significant portion of revenue also comes from renewals of existing policies, which contribute to a stable income stream. The company may also engage in partnerships with banks and financial institutions for distribution, enhancing its reach and sales capabilities. Other factors contributing to earnings include fee-based income from managing funds and charges associated with policy administration.

ICICI Prudential Life Insurance Co. Ltd. Financial Statement Overview

Summary

ICICI Prudential Life Insurance Co. Ltd. demonstrates operational efficiency with strong EBIT and EBITDA margins. However, challenges in revenue growth and cash flow generation pose risks. The balance sheet remains stable with low leverage, but the company needs to address cash flow issues to ensure long-term financial health.

Income Statement

The income statement shows a mixed performance. The company has a strong EBIT and EBITDA margin of 61.64% for the TTM, indicating efficient operations. However, the net profit margin is relatively low at 1.78%, and there is a negative revenue growth rate of -8.5% in the TTM, suggesting challenges in revenue generation.

Balance Sheet

The balance sheet reflects a stable financial position with a low debt-to-equity ratio of 0.21, indicating conservative leverage. The return on equity is moderate at 10.59%, showing decent profitability. The equity ratio is not explicitly calculated, but the company's equity position appears solid relative to its assets.

Cash Flow

The cash flow statement reveals some concerns, with negative operating and free cash flows in the TTM. The free cash flow to net income ratio is slightly above 1, indicating that cash flow generation is not aligned with net income. The negative free cash flow growth rate suggests potential liquidity issues.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	698.86B	698.86B	891.36B	486.84B	618.94B	827.31B
Gross Profit	649.79B	650.18B	854.06B	468.20B	602.21B	812.31B
EBITDA	20.56B	16.11B	11.56B	10.97B	9.76B	11.93B
Net Income	12.62B	11.86B	8.51B	8.13B	7.59B	9.56B
Balance Sheet
Total Assets	3.28T	3.14T	2.99T	2.56T	2.44T	2.17T
Cash, Cash Equivalents and Short-Term Investments	3.45B	125.67B	8.38B	7.71B	18.08B	7.41B
Total Debt	26.00B	26.00B	12.00B	12.00B	12.00B	12.00B
Total Liabilities	3.15T	3.02T	2.88T	2.46T	2.35T	2.08T
Stockholders Equity	125.44B	119.34B	110.05B	101.28B	91.58B	91.09B
Cash Flow
Free Cash Flow	-87.75B	-96.72B	-75.52B	-1.03B	16.42B	72.29B
Operating Cash Flow	-85.44B	-94.13B	-73.15B	894.94M	18.31B	73.14B
Investing Cash Flow	66.01B	68.75B	74.20B	-11.47B	-8.16B	-50.84B
Financing Cash Flow	13.61B	14.22B	-878.50M	-1.12B	-3.19B	12.05B

ICICI Prudential Life Insurance Co. Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 669.25
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ICICIPRULI, the sentiment is Positive. The current price of 669.25 is above the 20-day moving average (MA) of 665.66, above the 50-day MA of 639.95, and above the 200-day MA of 620.60, indicating a bullish trend. The MACD of 12.95 indicates Positive momentum. The RSI at 55.64 is Neutral, neither overbought nor oversold. The STOCH value of 37.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:ICICIPRULI.

ICICI Prudential Life Insurance Co. Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GICRE	70 Outperform	₹639.92B	6.68	―	2.69%	―	―
HDFCLIFE	68 Neutral	₹1.60T	84.69	―	0.28%	-17.31%	11.68%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
LICI	66 Neutral	₹5.23T	10.23	―	1.40%	―	―
SBILIFE	66 Neutral	₹2.07T	84.49	―	0.13%	―	―
MFSL	59 Neutral	₹568.75B	351.15	―	―	-16.19%	-53.19%
ICICIPRULI	55 Neutral	₹968.93B	70.70	―	0.13%	-42.13%	48.75%

ICICI Prudential Life Insurance Co. Ltd. Corporate Events

ICICI Prudential Life Publishes 9M FY2026 Financial Results in Newspapers

ICICI Prudential Life Insurance Company Limited has notified the stock exchanges that it has published newspaper advertisements detailing its financial results for the quarter and nine months ended December 31, 2025, in Financial Express and Loksatta on January 15, 2026. The company stated that the advertisements include a QR code and a web link to access the detailed financial results, which are also available on its website, underscoring its compliance with SEBI disclosure norms and its emphasis on transparent communication with investors and stakeholders.

ICICI Prudential Life Confirms All Securities in Demat Form, No Remat Requests in Q3 FY25

ICICI Prudential Life Insurance Company Limited has disclosed that, for the quarter ended December 31, 2025, all of its securities are held in dematerialised form and no requests for rematerialisation were received. Its registrar and transfer agent, KFin Technologies Limited, has certified that, as a result, the specific procedural requirements under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, did not apply to the company for the period, and that the necessary confirmations have been provided to the depositories and stock exchanges. The filing underscores the company’s continued compliance with India’s securities depository framework and highlights a fully demat-based shareholding structure, which supports transparency and ease of trading for investors.

ICICI Prudential Life Sells Pension Fund Arm to ICICI Bank for ₹2.04 Billion

ICICI Prudential Life Insurance has completed the sale of its entire 100% equity stake in ICICI Prudential Pension Funds Management Company Limited to ICICI Bank for a cash consideration of ₹2.035 billion, following execution of a share purchase agreement and completion of all formalities. With this transaction, ICICI PFM ceases to be a subsidiary of ICICI Prudential Life and becomes a wholly owned subsidiary of ICICI Bank, consolidating the pension fund management business under the bank’s direct control and marking a related-party, arm’s-length reorganisation within the ICICI group that may streamline group structure and clarify business lines for stakeholders.

ICICI Prudential Life Files December 2025 Performance Update with Exchanges

ICICI Prudential Life Insurance Company Limited has submitted its performance update for December 2025 to stock exchanges in compliance with regulatory disclosure requirements. The company has also made this performance update available on its website, reinforcing its ongoing commitment to transparency and timely communication with investors and market participants.

ICICI Prudential Life to Appeal GST Demand and Penalty Order for FY2019

ICICI Prudential Life Insurance Company has disclosed that it received an order under Section 74 of the Goods and Services Tax Act, 2017 from the Additional Commissioner of CGST and Central Excise, Maharashtra, relating to financial year 2019. The order upholds a GST demand involving reversal of input tax credit, comprising tax of ₹5.74 crore and an equivalent penalty, taking the total disputed amount to about ₹11.48 crore, though the company has indicated there is no financial impact at this stage. ICICI Prudential plans to challenge the order by filing an appeal with the Commissioner (Appeals) within the prescribed timelines, signaling that the matter remains under dispute and its ultimate financial implications will depend on the outcome of the appellate process.

ICICI Prudential Life to Appeal ₹188 Million GST Demand Order for FY2022

ICICI Prudential Life Insurance has disclosed that it received an order under Section 73 of the Goods and Services Tax Act, 2017 from the Additional Commissioner, GST Commissionerate, Secunderabad, Telangana, relating to financial year 2022. The order upholds a GST demand arising from alleged non-reversal of input tax credit, with a tax component of ₹171.1 million and a penalty of ₹17.1 million, bringing the total exposure to about ₹188.2 million; there is no interest component. The insurer has stated it will challenge the order by filing an appeal before the relevant appellate authority within the prescribed timelines, signalling that the liability is disputed and may not translate into an immediate financial outgo, though investors and other stakeholders will monitor the progression and potential impact of the tax dispute on the company’s finances and compliance profile.

ICICI Prudential Plans Investor and Analyst Meeting for December 2025

ICICI Prudential Life Insurance Company Limited has announced a scheduled meeting with investors and analysts on December 15, 2025, as part of the Citi India Financials Tour 2025. The meeting, organized by Citigroup Global Markets India Private Limited, will be held in Mumbai, and no unpublished price-sensitive information will be disclosed during the discussions.

ICICI Prudential Life Receives RBI Approval for Pension Fund Sale

ICICI Prudential Life Insurance Company Limited announced that it has received approval from the Reserve Bank of India for the sale of its entire 100% equity shareholding in ICICI Prudential Pension Funds Management Company Limited to ICICI Bank Limited. This approval is subject to certain conditions, including clearance from the Pension Fund Regulatory and Development Authority. This move is part of the company’s strategic realignment and could impact its operational focus, potentially strengthening ICICI Bank’s position in the pension fund management sector.

ICICI Prudential Life Insurance Receives ‘ICRA AAA/Stable’ Rating for ₹12 Billion Debenture Issue

ICICI Prudential Life Insurance Company Limited has announced that ICRA Limited has assigned a new credit rating of ‘ICRA AAA/Stable’ to its planned issuance of non-convertible debentures worth ₹12 billion. This high credit rating reflects the company’s strong financial stability and is expected to positively impact its market perception and stakeholder confidence.

ICICI Prudential Life Withdraws Credit Rating Post NCD Redemption

ICICI Prudential Life Insurance Company Limited announced the withdrawal of a credit rating by ICRA Limited for its Non-Convertible Debentures (NCD) issuance of Rs. 12 billion. The withdrawal was requested by the company following the redemption of these debentures. This move reflects the company’s proactive financial management and may impact its credit profile and stakeholder perceptions.

ICICI Prudential Life Secures CRISIL AAA/Stable Rating for Subordinated Debt

ICICI Prudential Life Insurance Company Limited has announced that CRISIL Ratings Limited has assigned a ‘CRISIL AAA/Stable’ rating to its Rs 1200 crore subordinated debt issuance. This rating reflects the company’s strategic importance to ICICI Bank, its strong market position, and its ability to maintain a healthy capital position and profitability. The reaffirmation of the rating underscores ICICI Prudential’s robust financial health and the ongoing support from ICICI Bank, which is crucial for its growth and operational stability.

ICICI Prudential Life Withdraws Credit Rating Post Debenture Redemption

ICICI Prudential Life Insurance Company Limited announced the withdrawal of its credit rating by CRISIL Ratings Limited for its Non-Convertible Debentures worth 12 billion INR. The company voluntarily requested the withdrawal following the redemption of these debentures, indicating a strategic move to manage its financial instruments and obligations effectively.

ICICI Prudential Life Announces H1-FY2026 Financial Results

ICICI Prudential Life Insurance Company Limited has announced the publication of its financial results for the quarter and half year ended September 30, 2025. The results were advertised in prominent newspapers, Financial Express and Loksatta, and are accessible via a Quick Response code and a weblink. This move ensures transparency and accessibility for stakeholders, reflecting the company’s commitment to regulatory compliance and effective communication.