ICICI Prudential Life Insurance Company Ltd carries on business of providing life insurance, pensions and health insurance products to individuals and groups. The business is conducted in participating, non-participating and unit linked lines of business. These products are distributed through individual agents, corporate agents, banks, brokers, sales force and company's website.[1]It is promoted by ICICI Bank and Prudential Corporation :-ICICI Bank (51% stake)[2]-The company is a part of ICICI Bank Ltd which is the 2nd largest private bank in India. It offers a diversified range of products and services to retail, SME and corporate customers.[3]Prudential Plc (22% stake) -It is a British multinational insurance company based in London, England. It is the largest UK life insurer in Asia with presence in India, China, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines and other Asian countries. It is also present in African subcontinent in Nigeria, Ghana, Togo and other countries.[4]
PromoterAs of Sep 2025, ICICI Bank holds 51% and Prudential Corporation holds a 22% stake in the company. The company is a critical entity for ICICI Bank, receiving financial support and board oversight from the bank. The parent company serves as a corporate agent for ICICI Pru Life, providing access to the bank's branch network and customer base for selling insurance products.[1][2]
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Life Insurance | 851.95 | 10.55 | 538889.88 | 1.41 | 10095.92 | 30.66 | 241524.29 | 4.50 | 53.13 | 913081.59 | 5.85 | 51102.85 | 10098.48 | 3.80 | 0.87 | 0.00 |
| 2. | SBI Life Insuran | 2070.80 | 84.68 | 207755.22 | 0.13 | 494.59 | -6.58 | 23115.32 | -42.64 | 16.88 | 104044.75 | 1.28 | 2453.29 | 494.59 | 11.35 | 0.56 | 0.00 |
| 3. | HDFC Life Insur. | 772.35 | 88.01 | 166626.84 | 0.27 | 448.29 | 3.01 | 20650.68 | -27.53 | 6.58 | 91604.78 | 1.72 | 1893.31 | 448.29 | 9.81 | 0.51 | 0.14 |
| 4. | ICICI Pru Life | 684.60 | 75.52 | 99177.27 | 0.12 | 299.26 | 18.89 | 11934.76 | -52.56 | 8.86 | 57557.14 | 1.55 | 1313.28 | 299.26 | 7.78 | 0.39 | 0.20 |
| 5. | Max Financial | 1727.10 | 364.97 | 59604.77 | 0.00 | 5.87 | -96.33 | 9791.59 | -26.77 | 8.13 | 43911.67 | 0.57 | 163.31 | 4.15 | 11.24 | 0.23 | 0.34 |
| 6. | Canara HSBC | 153.12 | 120.56 | 14550.31 | 0.00 | 40.81 | 10.69 | 2347.94 | -29.35 | 8.73 | 10709.57 | 1.22 | 116.75 | 40.81 | – | 0.29 | 0.00 |
| – | Median: 6 Co. | 812.15 | 86.34 | 132902.05 | 0.12 | 373.77 | 6.85 | 16292.72 | -28.44 | 8.79 | 74580.96 | 1.42 | 1603.3 | 373.77 | 9.81 | 0.45 | 0.07 |
Standalone figures in ₹ crores
| Dec 2022 | Dec 2023 | Dec 2024 | Jun 2023 | Jun 2024 | Jun 2025 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 17,425 | 26,429 | 4,536 | 23,383 | 25,395 | 25,400 | 10,983 | 22,481 | 15,687 | 22,604 | 17,387 | 25,157 | 11,935 |
Expenses | 17,499 | 26,578 | 4,286 | 23,657 | 25,354 | 25,177 | 11,395 | 22,753 | 15,262 | 22,866 | 17,676 | 24,831 | 11,940 |
Operating Profit | -74 | -150 | 250 | -275 | 42 | 223 | -413 | -273 | 424 | -262 | -289 | 327 | -6 |
Other Income | 349 | 416 | 161 | 492 | 231 | 169 | 776 | 543 | 175 | 504 | 566 | -23 | 399 |
Profit before tax | 275 | 266 | 411 | 217 | 272 | 392 | 364 | 271 | 599 | 242 | 277 | 303 | 394 |
Tax % | 20% | 15% | 21% | 5% | 17% | 23% | 35% | 36% | 36% | 18% | 12% | 17% | 24% |
Net Profit | 221 | 227 | 326 | 207 | 225 | 302 | 235 | 174 | 386 | 199 | 244 | 252 | 299 |
EPS in Rs | 1.53 | 1.58 | 2.25 | 1.44 | 1.56 | 2.09 | 1.63 | 1.21 | 2.67 | 1.39 | 1.70 | 1.74 | 2.07 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 21,886 | 34,451 | 20,847 | 37,814 | 38,830 | 41,460 | 21,022 | 83,180 | 63,564 | 49,400 | 89,679 | 70,775 | 57,557 |
Expenses | 20,380 | 32,795 | 19,005 | 36,007 | 37,058 | 40,695 | 21,339 | 83,565 | 65,720 | 50,191 | 90,556 | 69,585 | 56,666 |
Operating Profit | 1,505 | 1,656 | 1,842 | 1,807 | 1,772 | 765 | -317 | -385 | -2,155 | -791 | -877 | 1,190 | 892 |
Other Income | 129 | 43 | 0 | 130 | 132 | 591 | 1,578 | 1,668 | 3,179 | 1,955 | 2,021 | 530 | 904 |
Interest | 15 | 17 | 0 | 15 | 20 | 23 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Depreciation | 47 | 40 | 0 | 58 | 44 | 57 | 61 | 60 | 67 | 84 | 113 | 133 | 0 |
Profit before tax | 1,573 | 1,642 | 1,842 | 1,864 | 1,840 | 1,276 | 1,200 | 1,223 | 957 | 1,081 | 1,031 | 1,587 | 1,796 |
Net Profit | 1,562 | 1,640 | 1,650 | 1,682 | 1,620 | 1,141 | 1,069 | 960 | 754 | 811 | 852 | 1,189 | 1,313 |
EPS in Rs | 10.93 | 11.46 | 11.52 | 11.72 | 11.28 | 7.94 | 7.44 | 6.69 | 5.25 | 5.64 | 5.92 | 8.23 | 9.08 |
Dividend Payout % | 70% | 51% | 73% | 63% | 59% | 40% | 11% | 30% | 10% | 11% | 10% | 10% | – |
Standalone figures in ₹ crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 1,429 | 1,432 | 1,432 | 1,435 | 1,436 | 1,436 | 1,436 | 1,436 | 1,437 | 1,439 | 1,441 | 1,445 | 1,447 |
Reserves | 2,955 | 3,834 | 3,892 | 4,973 | 5,141 | 5,440 | 5,783 | 7,683 | 7,726 | 8,653 | 14,555 | 14,898 | 11,280 |
Borrowings | 0 | 0 | 1,029 | 0 | 0 | 0 | 0 | 1,200 | 1,200 | 1,200 | 1,200 | 2,600 | 2,600 |
Other Liabilities | 77,090 | 95,950 | 98,413 | 118,334 | 135,245 | 156,215 | 148,817 | 206,909 | 234,077 | 244,555 | 281,805 | 295,297 | 309,189 |
Total Liabilities | 81,474 | 101,216 | 104,766 | 124,743 | 141,821 | 163,090 | 156,035 | 217,228 | 244,440 | 255,847 | 299,000 | 314,240 | 324,516 |
Fixed Assets | 197 | 209 | 212 | 207 | 404 | 463 | 932 | 911 | 916 | 968 | 1,167 | 1,314 | 831 |
Gross Block | 196.90 | 209.04 | 464.29 | 514.01 | 743.70 | 815.95 | 1,333.51 | 1,355.50 | 1,382.31 | 1,497.71 | 1,768.16 | 1,844.45 | – |
Accumulated Depreciation | 0.00 | 0.00 | 252.25 | 307.46 | 339.22 | 353.18 | 401.22 | 444.36 | 466.29 | 529.92 | 600.88 | 530.85 | – |
CWIP | 5 | 6 | 7 | 7 | 18 | 13 | 20 | 22 | 54 | 117 | 49 | 35 | 0 |
Investments | 80,102 | 99,492 | 103,027 | 121,586 | 138,540 | 159,009 | 150,781 | 211,736 | 237,625 | 247,731 | 289,238 | 303,490 | 315,813 |
Other Assets | 1,171 | 1,509 | 1,520 | 2,943 | 2,859 | 3,606 | 4,301 | 4,559 | 5,845 | 7,031 | 8,546 | 9,402 | 7,872 |
Total Assets | 81,474 | 101,216 | 104,766 | 124,743 | 141,821 | 163,090 | 156,035 | 217,228 | 244,440 | 255,847 | 299,000 | 314,240 | 324,516 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | -2,381 | 528 | 3,636 | 4,132 | 5,693 | 11,381 | 8,600 | 7,320 | 1,831 | 88 | -7,305 | -9,405 |
Cash from Investing Activity | 6,004 | -1,820 | 25 | -699 | -5,392 | -7,563 | -10,802 | -5,090 | -815 | -1,147 | 7,414 | 6,866 |
Cash from Financing Activity | -1,091 | -966 | -1,442 | -994 | -1,188 | -843 | -405 | 1,205 | -319 | -112 | -88 | 1,423 |
Net Cash Flow | 2,532 | -2,257 | 2,219 | 2,439 | -887 | 2,975 | -2,608 | 3,434 | 696 | -1,172 | 21 | -1,116 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 0 | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Inventory Days | – | – | – | – | – | – | – | – | – | – | – | – |
Days Payable | – | – | – | – | – | – | – | – | – | – | – | – |
Cash Conversion Cycle | 0 | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Working Capital Days | -17 | -10 | -16 | -2 | -9 | -9 | -5 | -2 | -6 | -5 | 2 | 3 |
ROCE % | 38% | 34% | 32% | 29% | 29% | 19% | 17% | 14% | 9% | 10% | 2% | 9% |
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Stock Analysis
ICICI Prudential Life Insurance Company Limited is a life insurance provider offering a diverse range of products, including life insurance, pensions, and health insurance, distributed through various channels. It is promoted by ICICI Bank and Prudential Corporation.
Key growth drivers include India's favorable demographics, increasing financial literacy, and a significant protection gap in the market. The recent GST exemption on individual life insurance policies is expected to enhance affordability, boost demand, and deepen market penetration.
Currently no data available for Order Book.
Past tax disputes regarding Input Tax Credit (ITC) reversal for FY2019, FY2022, and FY2023, with some demands upheld, leading to appeals. Some quarterly results showed a decline in Annualised Premium Equivalent (APE) and Retail Weighted Received Premium (RWRP).
The Board of Directors meeting on January 13, 2026, to approve unaudited financial results for Q3 and 9M FY2026 is a key upcoming event.
Corporate Announcements
