Life Insurance Corp. of India (IN:LICI)
:LICI
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Life Insurance Corp. of India
(LICI)
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Rating:71Outperform
Price Target:
₹812.00
▼(-5.72% Downside)
Action:UpgradedDate:02/07/26
The score is driven primarily by solid financial statement strength (notably strong recent growth and very low leverage), tempered by meaningful cash flow volatility and recent negative operating/free cash flow. Technicals are supportive via a clear uptrend but look overextended, while valuation is a positive due to the low P/E with a modest dividend yield.
Positive Factors
Conservative Balance Sheet
Very low reported debt and a debt-to-equity ratio near zero materially reduce financial risk for a life insurer. This strengthens capacity to meet guaranteed liabilities, fund new business, and deploy capital into investments or product expansion without near-term refinancing pressure.
Negative Factors
Inconsistent Cash Generation
Swings to negative operating and free cash flow reduce financial flexibility and raise earnings-quality concerns for an insurer that depends on investment spreads. If persistent, weak cash conversion can constrain dividend capacity, new business investment, or capital buffers against underwriting stress.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Very low reported debt and a debt-to-equity ratio near zero materially reduce financial risk for a life insurer. This strengthens capacity to meet guaranteed liabilities, fund new business, and deploy capital into investments or product expansion without near-term refinancing pressure.
Read all positive factors
Life Insurance Corp. of India (LICI) vs. iShares MSCI India ETF (INDA)
Market Cap
₹4.65T
Dividend Yield1.4%
Average Volume (3M)56.04K
Price to Earnings (P/E)10.5
Beta (1Y)1.08
Revenue GrowthN/A
EPS GrowthN/A
CountryIN
Employees98,661
SectorFinancial
Sector Strength70
IndustryInsurance - Life
Share Statistics
EPS (TTM)19.07
Shares Outstanding6,324,997,600
10 Day Avg. Volume55,606
30 Day Avg. Volume56,042
Financial Highlights & Ratios
PEG Ratio0.66
Price to Book (P/B)4.56
Price to Sales (P/S)0.65
P/FCF Ratio-58.51
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹934.00Price Target Upside8.45% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)92.2
Revenue Forecast (FY)₹10.41T
Life Insurance Corp. of India Business Overview & Revenue Model
Company Description
Life Insurance Corporation of India provides life insurance products in India, Fiji, Mauritius, and the United Kingdom. It provides individual products, including participating insurance products; and non-participating products comprising savings ...
How the Company Makes Money
LICI makes money mainly through (1) premiums collected from policyholders, (2) investment income earned on the large pool of assets it manages, and (3) fees and charges associated with certain products.
1) Premium income (core operating revenue):...
Life Insurance Corp. of India Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
83
Very Positive
Cash Flow
46
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 9.04T | 8.91T | 8.49T | 7.85T | 7.27T | 6.86T |
| Gross Profit | 8.79T | 8.66T | 8.23T | 7.59T | 7.03T | 6.62T |
| EBITDA | 480.37B | 490.00B | 416.50B | 366.25B | 46.87B | 35.13B |
| Net Income | 487.33B | 483.20B | 409.16B | 359.97B | 41.25B | 29.74B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 56.61T | 53.16T | 45.78T | 42.54T | 38.30T |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 825.75B | 418.24B | 518.29B | 447.24B | 360.78B |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 12.88M | 36.65M |
| Total Liabilities | -1.28T | 55.33T | 52.33T | 45.32T | 42.43T | 38.23T |
| Stockholders Equity | 1.28T | 1.27T | 827.47B | 462.33B | 113.38B | 68.84B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -99.22B | 257.80B | 536.32B | -44.99B | 795.26B |
| Operating Cash Flow | 0.00 | -91.45B | 265.48B | 545.19B | -37.83B | 806.02B |
| Investing Cash Flow | 0.00 | 404.23B | -258.26B | -544.72B | 120.99B | 1.49T |
| Financing Cash Flow | 0.00 | -37.94B | -44.27B | -9.49B | 0.00 | -2.56T |
Life Insurance Corp. of India Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹841.88B | 37.02 | ― | 0.69% | 14.43% | 25.13% | |
71 Outperform | ₹4.65T | 10.45 | ― | 1.40% | ― | ― | |
68 Neutral | ₹1.22T | 96.63 | ― | 0.28% | -17.31% | 11.68% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | ₹1.78T | 88.47 | ― | 0.13% | ― | ― | |
65 Neutral | ₹2.63T | 36.52 | ― | 0.05% | 16.27% | 13.70% | |
55 Neutral | ₹729.35B | 61.88 | ― | 0.13% | -42.13% | 48.75% |
* Financial Sector Average
IN:LICI
Life Insurance Corp. of India
734.75
-46.89
-6.00%
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IN:ICICIPRULI
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IN:SBILIFE
SBI Life Insurance Co. Ltd.
1,773.75
263.50
17.45%
Life Insurance Corp. of India Corporate Events
LIC Discloses Participation in Global Investors’ Conference, Affirms No UPSI Shared
Feb 24, 2026
Life Insurance Corporation of India disclosed that its representatives participated in the 17th Enterprising India Global Investors’ Conference organized by IIFL Institutional Equities in Mumbai on February 24, 2026. The company emphasized t...
LIC Updates Exchanges on Participation in Kotak Institutional Investor Meet
Feb 23, 2026
Life Insurance Corporation of India disclosed that its representatives attended the Chasing Growth 2026 investor conference organized by Kotak Institutional Equities in Mumbai, as part of its ongoing engagement with analysts and institutional inve...
LIC Updates Exchanges on Participation in Axis Capital Investor Conference
Feb 10, 2026
Life Insurance Corporation of India notified stock exchanges that its representatives participated in Axis Capital’s flagship ‘Advantage India’ conference in Mumbai on February 10, 2026, in a group meeting format with analysts an...
LIC Publishes Analyst and Investor Call Audio on Website
Feb 5, 2026
Life Insurance Corporation of India has announced that the audio recording of its conference call with analysts and investors held on 5 February 2026 has been made available on the company’s website, in compliance with SEBI’s disclosur...
LIC to Launch New Single-Premium Whole Life Plan ‘Jeevan Utsav’ in January 2026
Jan 5, 2026
Life Insurance Corporation of India has announced the launch of a new individual savings product, LIC’s Jeevan Utsav, a single premium, non-participating, non-linked whole life insurance plan, which will be available for sale in the domestic...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.