AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Change in Directorate 22 Sep - Board appointed Nihar Niranjan Jambusaria as Additional Independent Director for three years from September 22, 2026.
Source: Bse
SBI Life Insurance Company Limited (SBILIFE)
Large CapFinancial Services stocks · Large cap · NSE
SBI Life Insurance Company Limited, incorporated in Oct 2000, is an Indian life insurer registered with IRDAI. It offers Protection, Pension, Savings, and Health solutions to individuals and groups, focusing on customer-first approach, operating efficiency, and digital experiences. It has 1,230 offices and 358k+ insurance professionals.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals14 Oct 2026 · screener
Latest result24 Jul, 08:21 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags03 May 2026
Coverage10/10 · 100%
Valuation2026-07-20 · Rf 6.8% · Financial Services P/E 17.0 (n=243)
Technical timing lens
Trend score and candlestick chart
31Bearishfull bear SMA stack · SMA20 -1.3% / mo · MACD − · near 52W low
Stock trend: 22
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
Technical chart
SBILIFED candles · FIT view-6.8%Latest close ₹1647.80 on 2026-10-19
Bar
-0.5%
RSI
38
MACD hist
-5.31
52W pos
3%
2026-10-19O ₹1656.00H ₹1659.00L ₹1635.30C ₹1647.80Vol 9.5L 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
SBILIFENifty Financial ServicesNifty 500
- SBILIFE
- -9.7%
- Nifty 500
- -5.6%
- Nifty Financial Services
- -6.0%
- Vs Nifty 500
- -4.1 pp
Chart stats
19 Oct 2026- From 52W high
- -22.7%
- 52W range position
- 3%
- ATR (14)
- 2.4%
- Volume vs 20D
- 0.65x
- Avg traded value
- ₹250 Cr
- 20D price channel
- ₹1,634.5 - ₹1,791.4
₹2,132
₹1,634.5 - ₹2,132
₹40.2
Latest completed session
20-session average
20.0% annualized volatility
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 weak.
Suggested next step
Check latest quarters
Result consistency is weak; verify whether the thesis is improving or deteriorating.
U-Score
Legacy · OVERVALUED27
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Good62
Revenue +18.8% · PAT +22.1% YoY
Technical
Bearish31
Price trend and sector-relative-strength timing.
Valuation
Legacy model-39.9%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence65
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Good · 62/100Rev +19% YoY · PAT +22% YoY · +1038% QoQ · margin compression
Filed 24 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹46,337 Cr | +18.8% | +1038.2% |
| EBITDA | ₹757 Cr | +14.0% | +172.4% |
| Operating margin | 1.6% | -10 bps | +2760 bps |
| PAT | ₹725 Cr | +22.1% | -9.9% |
| PAT margin | 1.6% | +4 bps | -1821 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 64.20
- P/B
- 8.29
- EV/EBITDA
- 198.22
- Market Cap
- 167100.00Cr
Profitability
- ROE
- 13.70%
- ROCE
- 15.00%
- ROA
- 0.52%
- Dividend Y
- 0.16%
Growth (CAGR)
- Revenue 5Y
- 7.00%
- EPS 5Y
- 11.00%
- Revenue 3Y
- 12.00%
- EPS 3Y
- 13.00%
Balance Sheet
- Debt/Equity
- 0.00
- Interest Coverage
- —
- Altman Z
- 0.52
- Book Value
- 201.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 6/5
- OCF
- 34523.00 Cr
- EPS TTM
- 25.93
Shareholding
- Promoter Hold
- 55.32%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 7%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 112.3k-3.9% vs prev
Net Profit
₹ CrLatest: 2,470+2.4% vs prev
Return on Equity
%Latest: 12.9-8.9% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 38.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~1.4% over last month) — short-term momentum negative.
- RSI(14) at 38 — 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
36
RS percentile
Stage 4 Downtrend
1M return
-4.8%
3M return
-9.7%
6M return
-12.6%
1Y return
-14.9%
RS 1D
-1
RS 20D
-1
Sector rank
#9
Industry rank
#17
Stage evidence
- Price is 8.6% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -2.0%.
- 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 94.4+0.49%
RS vs Nifty 50094
Valuation & peers
U-Score 27 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 27 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation0/30
Growth7/25
Quality5/20
Balance Sheet4/15
Cash Flow5/10
Piotroski
7/9 (+5)
Penalties
1
Raw sum
27
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
27/100 · legacy band OVERVALUED
Positive drivers
- Piotroski is strong at 7/9.
- Cash flow contributes 5/10 to the score.
- Growth contributes 7/25 to the score.
Main drags
- Altman Z is 0.5, in distress territory.
- Fair-value margin of safety is negative at -39.9%.
- 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.
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.
PE
64.2
PB
8.3
EV/EBITDA
198.2
ROE
13.7%
ROCE
15.0%
FCF Yield
—
Debt/Equity
0.0
MoS
-39.9%
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
27
Previous: 27
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
-39.9%
Previous: -39.9%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
27
27
27
27
27
27
27
27
27
27
27
27
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
₹342.44
-381.2% MoS
Justified P/EV
2.15
Justified Value (EV)
₹1,178.2
-39.9% MoS
PEG
5.44
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.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
SHRIRAMFIN
Large
Shriram Finance Limited
Insurance
match 159
47
19.8
16.4%
+6%
FAIR VALUE
MUTHOOTFIN
Large
Muthoot Finance Limited
Insurance
match 157
67
9.1
30.9%
+79%
UNDERVALUED
NAM-INDIA
Large
Nippon Life India Asset Management Limited
Insurance
match 155
63
41.2
34.5%
+2%
UNDERVALUED
MANAPPURAM
Small
Manappuram Finance Limited
Insurance
match 149
21
21.0
7.0%
-510%
OVERVALUED
PILANIINVS
Small
Pilani Investment and Industries Corporation Limited
Insurance
match 147
37
—
0.2%
-40%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
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 2026-06-03T15:41:48.411Z
Management commentary snapshot
SBI Life reported robust FY26 performance with GWP up 19% to `1,012.9bn, AUM growing 9% to `4.9tn, and VoNB up 12% to `66.7bn. PAT growth was modest at 2% to `24.7bn, while cost ratios increased. Persistency improved across key metrics, and solvency remains strong at 1.90x.
The company demonstrated strong business growth across key metrics like GWP, AUM, and VoNB, maintaining market leadership in Individual Rated Premium. Persistency ratios improved, indicating better business quality. While PAT growth was modest and cost ratios increased, the robust solvency and management's focus on balanced growth and efficiency support the current thesis.
Current business mix
APE Product mix (%)
Latest issuer-disclosed distribution across 3 reported categories.
Par7.0%
Non Par33.0%
ULIP60.0%
Growth engines
Individual New Business Sum Assured
Individual New Business Sum Assured grew by 61% to `4,463 billion in FY26.
Other Channel Individual NBP
Individual NBP of Other channel increased by 38% to `50.7 billion in FY26 as compared to last year.
Annuity New Business Premium
Annuity New Business Premium grew by 34% to `70.3 billion in FY26.
Group Savings New Business Premium
Group Savings New Business Premium grew by 55% to `84.8 billion in FY26.
Capacity and execution
Insurance Professionals
The Company has strong distribution network of 358,506 trained insurance professionals.
Offices
Widespread operations with 1,230 offices across the country.
Agent Additions
Gross addition of +24% agents to 282,001.
Specified Persons Additions
Net addition of +93% Specified Persons to 17,150+.
Tailwinds
Improved Industry Momentum
The life insurance industry witnessed improved momentum during FY26.
Regulatory Support
Industry momentum supported by recent regulatory measures.
Shift to Protection Products
Gradual shift in customer preference towards protection-oriented products.
GST Exemption
Exemption of GST on individual policies enhanced affordability and supported demand during the period.
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 provided document presents financial and operational data for FY26 compared directly against FY25, making year-over-year analysis the most relevant for assessing annual performance trends.
Sector KPIs management disclosed
Assets under Management (AuM) Growth
Assets under Management grew by 9% from `4,480.4 billion as on March 31, 2025 to `4,871.6 billion as on March 31, 2026.
Value of New Business (VoNB) Margin
Value of New Business (VoNB) Margin stands at 27.5% in FY26.
Solvency Ratio
Robust Solvency ratio of 1.90 as on March 31, 2026, as against the regulatory requirement of 1.50.
13th Month Persistency
13th month persistency improved by 53 bps to 87.9% in FY26.
Management forward view
Industry Outlook
MD & CEO states the life insurance industry witnessed improved momentum during FY26, supported by regulatory measures and shift to protection.
Product Strategy
Company's product mix reflected evolving customer preferences, with balanced contributions from ULIPs, participating and non-participating savings.
Strategic Focus
SBI Life remains focused on maintaining a balanced approach to growth and profitability, strengthening product portfolio, distribution, and operational efficiencies.
Commitment to Stakeholders
Committed to enhancing insurance penetration and delivering long-term value to all stakeholders.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| VoNB Margin | 27.5% | Stability or improvement in the profitability of new business. |
| Solvency Ratio | 1.90 | Maintenance of robust capital adequacy above the regulatory minimum. |
| Total Cost Ratio | 10.6% | Trends in cost efficiency, particularly the operating expense ratio. |
| Persistency Ratios | 13th month: 87.9%, 49th month: 69.1% | Continued improvement in customer retention and overall business quality. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
65Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 45th percentile of the scored universe and 59th percentile within Financial Services. Main check: results consistency is weak at 45/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 20 Oct 2026
management-trust-v1
75 docs text-extracted · 33 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
45th percentile
overall median 67 · Financial Services: 59th pctile, median 62 · Large: 23rd pctile, median 73
Evidence depth
Financial-only
75 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
67
acceptable · profit to cash conversion
Balance sheet
62
acceptable · leverage and solvency
Discipline
60
acceptable · capital discipline
Results
45
watch · quarterly consistency
Trust positives
- ▸Promoter holding is 55.3%.
- ▸Promoter pledge is zero.
- ▸6 years of positive FCF.
- ▸Debt/equity is 0.00.
Trust risks
- ▸Altman Z is 0.52.
- ▸OPM spread across recent quarters is 29.2%.
- ▸Profit margin is 0.7%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching SBI Life Insurance Company Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 17 Sep - The Board Stakeholders'' Relationship and Sustainability Committee vide its circular resolution dated September 17, 2026 has allotted equity shares towards exercise of vested options. This …
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s 9 Sep - SBI Life reappointed K S Aiyar & Co. and J Singh & Associates as joint statutory auditors for FY 2026-27.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 8 Sep - Please find attached Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015.
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Change in Directorate 19 Aug - Mr. Narayan K Seshadri ceases as Independent Director on August 19, 2026 after completing two terms.
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 18 Aug - The Board Stakeholders'' Relationship and Sustainability Committee vide its circular resolution dated August 18, 2026 has allotted equity shares towards exercise of vested options. This …
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 8 Aug - SBI Life will meet Emkay Confluence investors in Mumbai on August 12, 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 26 Aug - SBI Life schedules investor meeting at Goldman Sachs Asia Leaders Conference 2026 in Hong Kong on Aug 31-Sep 1.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 23 Aug - Please find attached Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015.
Source: Bse
Concall transcriptJul 2026
Jul 2026 · Transcript
Source: Bse
Investor presentationJul 2026
Jul 2026 · PPT
Source: Bse
AnnouncementJul 2026
Jul 2026 · Announcement under Regulation 30 (LODR)-Newspaper Publication 17 Jul - Copies of newspaper publication w.r.t. 26th Annual General Meeting published in Financial Express and Loksatta on July 17, 2026.
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.