ICICI Prudential Life Insurance Company Limited (ICICIPRULI)

Large Cap

Financial Services stocks · Large cap · NSE

ICICI Prudential Life Insurance Company Limited offers a comprehensive suite of life insurance products across savings, protection, and annuity segments. It leverages diversified distribution channels including bancassurance, agency, direct, and partnership distribution, focusing on sustainable VNB growth, profitability, and risk prudence.

₹438

-7.00 · -1.57%

Market cap ₹65,641 Cr

IndicesNifty 500

ThemesInsurance

Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm IST

Details

Quote19 Oct, 03:31 pm IST

Base fundamentals14 Oct 2026 · screener

Latest result13 Oct, 01:18 pm IST

Score20 Oct, 04:30 am IST · v4.3-runtime-valuation

Tags03 May 2026

Coverage13/14 · 93%

Valuation2026-07-20 · Rf 6.8% · Financial Services P/E 17.0 (n=243)

Technical timing lens

Trend score and candlestick chart

28Bearish

full bear SMA stack · SMA20 -6.7% / mo · MACD − · near 52W low

Stock trend: 18

Sector RS: 44

Sector 3M: -5.8% vs Nifty 500 -5.6%

Financial Services FPI tailwindNot confirmed

Latest mapped FPI equity flow was not positive. View sector evidence

Compare peers →

Technical chart

ICICIPRULID candles · FIT view-14.8%

Latest close ₹438.00 on 2026-10-19

Bar

-1.7%

RSI

MACD hist

-0.46

52W pos

2026-10-19O ₹445.50H ₹448.00L ₹435.05C ₹438.00Vol 10.0L sh

Up bar

Down bar

EMA 20

EMA 50

Volume + 20D avg

Result date

RSI(14)

MACD / signal

Market context

Relative performance and chart statistics

Adjusted completed-session prices, rebased to 100

ICICIPRULINifty Financial ServicesNifty 500

ICICIPRULI: -12.1%
Nifty 500: -5.6%
Nifty Financial Services: -6.0%
Vs Nifty 500: -6.5 pp

Chart stats

19 Oct 2026

From 52W high: -38.0%
52W range position: 1%
ATR (14): 3.0%
Volume vs 20D: 0.53x
Avg traded value: ₹82.8 Cr
20D price channel: ₹435.1 - ₹500

Quarter ended 30 Sept 2026

Good · 65

Rev +16% YoY · PAT +25% YoY · operating leverage

Revenue: ₹13,803.9 Cr; YoY +15.7%
PAT: ₹374.2 Cr; YoY +25.2%
Operating margin: NDF; QoQ NDF
PAT margin: 2.7%; QoQ +136 bps

Filed 13 Oct 2026Full result & history →

Current-quarter concall

Transcript not linked yet

No source-linked earnings-call transcript is available for this company in the active results quarter.

Search Concall Intelligence

Technical snapshot

Positioning and participation

Stage 4 Downtrend

Current trend context ranked against the Nifty 500. It describes the chart; it is not a buy or sell signal.

RS percentile: 18; -3 ranks over 20D
Stage 2 entry: Not in Stage 2; Current classification: Stage 4 Downtrend
Sector rotation: #9; neutral · 99 stocks
Industry rotation: #17; neutral · 15 stocks

Trend structure

Below 20-DMABelow 50-DMABelow 200-DMA

RSI (14)

Weak momentum

MACD

Below signal

Histogram -0.46

Volume participation

0.5x average

Versus 20-session average

20-session position

5% of range

₹435.05 low · ₹500 high

Relative performance

vs Nifty 500

1M: -7.5 pp; stock -11.0%
3M: -6.5 pp; stock -12.1%
6M: -17.9 pp; stock -21.5%
1Y: -19.5 pp; stock -26.6%

From 52W high

-38.0%

High ₹706.8

52W range position

₹435.05 - ₹706.8

ATR (14)

3.0%

₹12.96

Avg traded value

₹82.8 Cr

20-session average

Current setup

No confirmed setup attached

Review the chart and detailed technical evidence before drawing a conclusion.

Open detailed technicals →

Research snapshot

What the evidence says now

Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is consistent.

Suggested next step

Research, do not rush

The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.

U-Score

Legacy · OVERVALUED

Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.

Financials

Fundamentals, quarterly history, margins, returns and balance-sheet evidence

Quarter ended 30 Sept 2026

Good · 65/100

Rev +16% YoY · PAT +25% YoY · operating leverage

Filed 13 Oct 2026

Open results browser →

Metric	This quarter	YoY	QoQ
Revenue	₹13,803.9 Cr	+15.7%	-51.6%
EBITDA	NDF	NDF	NDF
Operating margin	NDF	NDF	NDF
PAT	₹374.2 Cr	+25.2%	-3.0%
PAT margin	2.7%	+20 bps	+136 bps

NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.

Fundamentals

Valuation

P/E: 37.30
P/B: 4.48
EV/EBITDA: 86.27
Market Cap: 65641.00Cr

Profitability

ROE: 10.00%
ROCE: 8.38%
ROA: 0.53%
Dividend Y: 0.36%

Growth (CAGR)

Revenue 5Y: -5.00%
EPS 5Y: 11.00%
Revenue 3Y: 9.00%
EPS 3Y: 25.00%

Balance Sheet

Debt/Equity: 0.18
Interest Coverage: —
Altman Z: 0.40
Book Value: 101.00

Cash Flow

FCF Yield: 3.38%
FCF Positive Y: 8/5
OCF: -5341.00 Cr
EPS TTM: 12.14

Shareholding

Promoter Hold: 72.73%
Promoter Pledge: 0.00%
Momentum 52W: 4%

Financial History

Updated 20/10/2026

Revenue

₹ Cr

Latest: 13.8k-51.6% vs prev

Net Profit

₹ Cr

Latest: 374-3.1% vs prev

ROE is shown only in the Annual view — quarterly equity data isn't published.

Technicals

Trend interpretation, Stage 2, relative strength, volume and indicator evidence

Daily technical trend read

Bearish setup

Trend is weak — long-term trend down. RSI 34.

Price < SMA20 < SMA50 < SMA200 — full bearish stack.
SMA20 falling (~7.2% over last month) — short-term momentum negative.
RSI(14) at 34 — falling, no extreme reading.
MACD below signal, histogram expanding negatively — bearish momentum building.
Within 5% of 52-week low — testing support.

Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.

Nifty 500 leadership

Relative Strength & Trend Stage

RS percentile

Stage 4 Downtrend

1M return

-11.0%

3M return

-12.1%

6M return

-18.9%

1Y return

-27.1%

RS 1D

RS 20D

-3

Sector rank

Industry rank

#17

Stage evidence

Price is 13.0% below the 30-week proxy.
The 50-DMA is below the 30-week proxy and its slope is falling -4.2%.
Both 3-month and 6-month returns are negative.

50-DMA

price below

200-DMA

price below

Sector

neutral

Industry

neutral

Relative-strength line vs Nifty 500 (base 100)

262 observations

19 Oct 2026Value 77.09-0.55%

RS vs Nifty 50077

Valuation & peers

U-Score 23 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies

Distress Watch

Fundamental score breakdown

U band · OVERVALUED

Valuation0/30

Growth9/25

Quality3/20

Balance Sheet4/15

Cash Flow5/10

Piotroski

4/9 (+1)

Penalties

Raw sum

Why this score?

Top U-Score contributors and drags from the latest stored fundamentals.

23/100 · legacy band OVERVALUED

Positive drivers

FCF yield is supportive at 3.4%.
Cash flow contributes 5/10 to the score.
Growth contributes 9/25 to the score.

Main drags

Altman Z is 0.4, in distress territory.
Fair-value margin of safety is negative at -17.9%.
Valuation is weaker at 0/30; verify the latest quarterly trend.

Sector valuation model

Insurance valuation: embedded value and VNB quality

Insurance economics depend on long-duration book value and new-business profitability.

Insurance P/EV

Primary lens

P/embedded value where available, plus VNB growth and margin.

Secondary checks

Persistency, product mix, solvency, distribution strength.

Main risk check

Accounting profit is less useful than embedded value quality.

37.3

4.5

EV/EBITDA

86.3

ROE

10.0%

ROCE

8.4%

FCF Yield

3.4%

Debt/Equity

0.2

MoS

-17.9%

Score movement

Stored run vs live recompute

This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.

Stored run: 20 Oct 2026

v4.3-runtime-valuation

Final score

Previous: 23

Legacy U-Score band

OVERVALUED

Previous: OVERVALUED

Margin of safety

-17.9%

Previous: -17.9%

Score history

12 stored score snapshots. Latest stored move: +0 points.

20 Oct 2026

v4.3-runtime-valuation

Factor attribution

No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.

Modelled fair value

Graham Number

₹166.1

-163.7% MoS

Growth-justified P/E

30.6

Growth-justified Value

₹371.48

-17.9% MoS

PEG

2.25

Comparable companies

Peers

Business-comparable peers in Financial Services — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.

Compare all ↗

Ticker

Name

Why peer

Score

ROE

MoS

Verdict

CANHLIFE

Large

Canara HSBC Life Insurance Company Limited

HDFC Life Insurance Company Limited

Max Financial Services Limited

Life Insurance Corporation Of India

Nippon Life India Asset Management Limited

Business, management & trust

Growth engines, risks, management commitments and evidence-backed delivery

Business and thesis

Where growth can come from, and what can break the case

Thesis intactReviewed 2026-07-16T05:41:39.290Z

Management commentary snapshot

ICICI Prudential Life reports robust Q1-FY2027 performance with APE up 14.6% YoY, VNB up 24.9% YoY, and PAT up 27.8% YoY. Retail sum assured surged 45.9% YoY, driven by strong protection and annuity growth. Solvency ratio remains healthy at 225.4%.

The company delivered strong Q1-FY2027 results, with VNB growth outpacing APE, indicating improved profitability. Retail protection and annuity segments show significant momentum. While cost efficiency improved in the savings LOB, the overall cost/premium ratio increased. Solvency remains robust, supporting future growth, though 13-month persistency saw a slight decline.

Current business mix

APE by Product Mix (Q1-FY2027)

Latest issuer-disclosed distribution across 5 reported categories.

Linked43.0%

Non-linked17.0%

Protection28.0%

Annuity6.0%

Group funds6.0%

Growth engines

Retail Protection

Retail protection APE grew 60.4% Y-o-Y in Q1-FY2027.

Annuity Segment

Annuity APE grew 33.0% Y-o-Y in Q1-FY2027.

Partnership Distribution

Partnership distribution APE grew 29.5% Y-o-Y in Q1-FY2027.

Group Business

Group APE grew 38.8% Y-o-Y in Q1-FY2027.

Capacity and execution

Advisor Recruitment

15,000+ advisors recruited in Q1-FY2027.

Partnership Expansion

25+ partnerships added in Q1-FY2027.

Tailwinds

Favorable Demography

Large and growing working population (age 25-59 years) in India, projected to reach 777.5 mn by FY2034.

Financialisation of Savings

Life insurance constitutes 17% of household financial savings, indicating significant growth potential.

Low Protection Penetration

India's retail protection sum assured is 27% of GDP, significantly lower than developed markets, implying substantial headroom for growth.

Rising Retirement Population

The ageing population is growing faster, creating an increasing demand for retirement and annuity products.

Headwinds

Credit Life Segment Flatness

The credit life segment remains flat due to Micro Finance Institution (MFI) headwinds.

Risk radar

Interest Rate Risk

66.2% of liabilities largely pass on market performance to customers; derivatives are used to hedge interest rate risks for non-par guaranteed savings, protection & annuities.

Insurance Risks

Persistency experience and mortality experience are monitored regularly.

Market Risk (Equity Values)

A 10% increase/decrease in equity values impacts Embedded Value (EV) by +/- 1.5%.

Management accountability

What management said, and what results must prove

Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.

Analyst reading lens

Compare YOY

The document explicitly provides Q1-FY2027 results compared to Q1-FY2026, indicating a focus on annual performance trends for this seasonal business.

Sector KPIs management disclosed

Annualised Premium Equivalent (APE)

₹ 21.36 bn, 14.6% Y-o-Y growth.

Value of New Business (VNB)

₹ 5.71 bn, 24.9% Y-o-Y growth.

VNB Margin

26.7% in Q1-FY2027, up from 24.5% in Q1-FY2026.

Assets Under Management (AUM)

₹ 3,338.18 bn at June 30, 2026, 2.9% Y-o-Y growth.

Management forward view

Company Renaming Proposal

Board approved proposal to rename the Company as ‘ICICI Life Insurance Limited’, pending regulatory approval.

Strategic Focus

Company remains well-positioned to drive sustainable growth, enhance customer outcomes & create long-term value for stakeholders.

VNB Growth Strategy

Deliver sustainable VNB growth by balancing business growth, profitability and risk & prudence.

Thesis monitor

Numbers and claims to verify in the next filings

Checkpoint	Current evidence	What to verify next
VNB Margin	26.7% in Q1-FY2027	Sustained expansion in VNB margin, indicating improved profitability of new business.
Retail Protection APE Growth	60.4% Y-o-Y in Q1-FY2027	Continued high growth rates in the retail protection segment, a key focus area.
13th Month Persistency	84.0% at June 30, 2026	Stabilization or improvement in persistency ratios, crucial for long-term profitability.
Overall Cost/Total Premium	21.8% in Q1-FY2027	Evidence of overall cost efficiency improvements, despite the increase this quarter.

Verification checkpoints are IndiaPulse research interpretation, not investment advice.

Show extracted source claims

macro expectationnot yet verifiable

Indian economy is poised to head towards sustained growth, fuelled by favourable demographics and rising affluence.

Timeframe: sustained growthDirection: positiveConfidence: high

"Indian economy poised to head towards sustained growth fuelled by favourable demographics, rising affluence"

macro expectationnot yet verifiable

Indian economy is poised to head towards sustained growth, fuelled by favourable demographics and rising affluence.

Timeframe: sustained growthDirection: positiveConfidence: high

"Indian economy poised to head towards sustained growth fuelled by favourable demographics, rising affluence"

margin outlooknot yet verifiable

Profitability will be built by growing the protection business faster, continuously improving business persistency, and maintaining focus on cost management.