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Company details

535.85
543.45
497.30
775.65
6M Return -14.07%
1Y Return -19.91%
Mkt Cap.(Cr) 113,424.56
Volume 109,477
Div Yield 0.32%
OI
-
OI Chg %
-
Volume 109,477

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SWOT

  • swot

  • technicals

  • deals

  • shareholding


EMA SMA

Delivery and volume

Our Research View

Trading recommendation

Data not found

Investment recommendation

Business growth healthy; merger remains overhang

Call Date

20 Jul 2022

Entry Price

536.00

Target Price

635.00

Duration

12-18 Month

Rapid Results

Q1FY23 Quarterly Result Announced for HDFC Life Insurance Company Ltd.

HDFC Life Insurance Company announced Q1FY23 results:

  • 22% growth in total APE; Maintained top 3 ranking amongst life insurers
  • 31% growth in Protection APE; 96% growth in group credit protect business
  • New business margins increased to 26.8%; 25% growth in Value of New Business
  • 21% growth in PAT to Rs. 365 crore

Commenting on the Q1 FY23 performance, Ms. Vibha Padalkar, MD & CEO said “We continue to maintain a consistent growth trajectory, growing by 22% in terms of APE in Q1 FY23. This has enabled us to maintain our market leadership as a ‘Top 3 life insurer’ across individual and group business.

Our product mix remains balanced, with non-par savings at 35%, participating products at 30%, ULIPs at 25%, individual protection at 5% and annuity at 6%, based on individual APE.

Our protection share based on APE improved from 15.7% last year to 16.9% during Q1 FY23. Our credit protect business has registered strong growth of 96%, on the back of rise in disbursements across most of our partners. We continue to look at overall protection growth across individual and group platforms in an agnostic manner.

On the retirement front, our annuity business has grown by 10% on received premium basis, compared to a 9% de-growth for the industry in the quarter. On APE basis, our annuity business has grown by 39%. The regular premium variant of our recently launched annuity product - Systematic Retirement Plan has been well received across channels. We have also launched a new product Systematic Pension Plan, which is a participating pension plan. This product adds to the existing suite of pension products being offered to customers.

Renewal premiums have grown by 19%, supported by improving persistency. Our 13th and 61st month persistency for limited and regular pay policies, is at 88% and 54% vs 86% and 51% in first quarter of previous year.

New business margin for Q1 was 26.8% up from 26.2% in Q1 of the previous year, on the back of profitable product mix and growth in protection business. The Profit after Tax for Q1 FY23 was Rs 365 crore, an increase of 21% over Q1 FY22. As highlighted in our last earnings call, we completed raising sub-debt worth Rs 350 crore during this quarter. Post the dividend payout of Rs. 1.70 per share, approved by our shareholders in the AGM, our solvency stands at 178%. In order to further strengthen solvency to fuel growth, we will continue to evaluate raising equity capital as needed.

We are delighted to share that our pension subsidiary, HDFC Pension, crossed the 30,000 crore AUM mark and has almost doubled its AUM in just 15 months. As on June 30, 2022, HDFC Pension had a market share of 38%, maintaining its leadership position as private Pension Fund Manager (PFM) in terms of NPS AUM.

HDFC International, our overseas subsidiary, has received an in-principle approval from International Financial Services Centres Authority - IFSCA to setup a “global in-house center” at GIFT City. This entity will pool and optimize all processing activities of our international business. This is an important step for us towards eventually setting up an IFSC Insurance Office (IIO) at GIFT city, which can cater to the overseas insurance needs of the Indian diaspora.

Exide Life witnessed strong growth of 34% based on Individual WRP and continues to enjoy a healthy product mix and growth across channels. The integration of Exide Life is on track. We have received the initial NCLT approval for triggering the merger process, including intimations to various regulatory authorities and related NOCs. Subsequent to receipt of the NOCs from various regulatory authorities, we can expect to receive the final NCLT approval. We expect to receive the final nod from IRDAI and be able to merge the subsidiary in the second half of FY23.

On the regulatory front, we have been in regular dialogue with IRDAI and working on charting a roadmap to deepen life insurance penetration in India and welcome the initiatives taken by the regulator in this direction.”

 

Result PDF

Financials

  • Profit and loss statement

  • Balance sheet

  • Quarterly Result

  • Ratio

Sales(Cr.)

Operating Profit(Cr.)

Profit after Tax(Cr.)

Equity

Reserves and Surplus

Debt

Sales

Operating Profit

Profit after tax

PE

Debt/Equity

P BV

INSIDER & INSTITUIONAL ACTIVITY

Equity Capital: 15,610.01 Cr FV: 10.00
Period MF Net Purchase / (sold) FII Net
LAST 1M 2,384.58 23,141.09
LAST 3M 49,521.50 -18,551.54
LAST 6M 129,719.68 -157,153.27
LAST 12M 215,295.98 -222,611.80
  • Announcement
  • Corporate action
  • No Data Found

Date Action Type Ratio
May 31, 2022 Dividend 17
Jun 30, 2021 Dividend 20.2

Information

  • About Company
  • Company Info
  • Listing Info
82.21
51.52%
73.4714
0.75%
11.08%
Description
  • HDFC Life Insurance Company Ltd is in the Insurance sector, having the Market Capitalization of worth Rs. 1,35,708 crores, it is incorporated on 14th August 2000. It has reported consolidated sales of Rs.14761.37 crores at the end of the June'21 quarter. The company is also listed in the Bombay Stock Exchange (BSE) with the code 540777 and also listed in the National Stock Exchange (NSE) with the code HDFCLIFE.

    HDFC Life Insurance Company, having its headquarters in Mumbai, is a life insurance provider offering services to individuals and groups. It is a joint venture between two parties, HDFC Ltd & Abrdn plc, formerly known as Standard Life Aberdeen. HDFC Life got listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on 17th November 2017. HDFC Life provides a wide variety of products such as Pension, Protection, Health & Savings plans, among other services. HDFC Life operates through 410+ branches and expands to over 980+ cities, towns, and villages in the country. The promoters, i.e., HDFC Ltd and Aberdeen plc, hold 51.69% and 34.75% of the stake in the company, while the retail investors have the rest 13.56% of the stake.

    In June 2021, quarterly net sales were Rs. 14,761.37 crores, similar to 14567.39 crores for the April-June 2020 quarter. The quarterly net profit in June 2021 was Rs, 302.35 crores, down by 32.97% from Rs. 452.09 crores in June 2020. In June 2021, the operating profit was Rs. 522.14 crores, down by approximately 27.28% from Rs. 722.95 crores for the quarter ending in June 2020. From Rs. 2.23 in June 2020, the EPS of HDFC Life Insurance Company has fallen to Rs. 1.50 in June 2021. HDFC Life's stock closed at Rs. 670.50 on 13th August 2021 (NSE) and has returned -5.69% in the last six months and 10.14% last year.

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Registered Address

13th Floor Lodha Excelus, ApolloMills Compound Mahalaxmi, Mumbai, Maharashtra, 400011

Tel : 91-22-67516666
Email : investor.service:hdfclife.com
Website : http://www.hdfclife.com

Registrar

KFin Techologies Ltd

AGM Date (Month) : Jul
Face Value Equity Shares : 10
Market Lot Equity Shares : 1
BSE Code : 540777
NSE Code : HDFCLIFE
Book Closure Date (Month) :
BSE Group : A
ISIN : INE795G01014

ICICIdirect HDFC Life Insurance Company Ltd FAQ

You can buy HDFC Life Insurance Company Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy HDFC Life Insurance Company Ltd Share.
Company share prices and volatile and keep changing according to the market conditions. As of Aug 08, 2022 04:01 PM the closing price of HDFC Life Insurance Company Ltd was ₹ 536.75.
Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Aug 08, 2022 04:01 PM, the market cap of HDFC Life Insurance Company Ltd stood at ₹ 113,424.56.
The latest PE ratio of HDFC Life Insurance Company Ltd as of Aug 08, 2022 04:01 PM is 82.21
The latest PB ratio of HDFC Life Insurance Company Ltd as of Aug 08, 2022 04:01 PM is 0.14
The 52-week high of HDFC Life Insurance Company Ltd is ₹ 775.65 while the 52-week low is ₹ 497.30 .
According to analyst recommendations, HDFC Life Insurance Company Ltd has a “Buy” rating for the long term.

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