SBI Life Insurance Company Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 116774.90 Crore) operating in Financial Services sector.
SBI Life Insurance Company Ltd. key Products/Revenue Segments include Amount transferred from Policyholder Account, Interest, Dividend & Rent and Profit/Loss on Sale/Redemption of Investments for the year ending 31-Mar-2020.
Financials
For the quarter ended 30-06-2021, the company reported a Standalone Total Income of Rs 243.50 Crore, down -83.17 % from last quarter Total Income of Rs 1446.43 Crore and down -35.70 % from last year same quarter Total Income of Rs 378.67 Crore. Company reported net profit after tax of Rs 223.16 Crore in latest quarter.
Investment Rationale
The brokerage expects revival in ULIPs and newer product launches going forward will support growth. Gradual improvement in the product mix will drive VNB margin. SBIL remains well placed in the life insurance space with a shift toward a profitable product mix and relatively comfortable valuations. It maintains a BUY rating on the stock with a revised target price of Rs 1,425 (2.7x FY24E EV).
Promoter/FII Holdings
Promoters held 55.69 per cent stake in the company as of 30-Sep-2021, while FIIs owned 24.48 per cent, DIIs 12.05 per cent.
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