ICICI Lombard General Insurance Company Q2 FY27 Share Price & Earnings Call Analysis
Part of: Nifty Midcap 150 · Nifty Financial Services · Nifty Midcap 50 · NIFTY Midcap 100 · Nifty 200 · NIFTY LargeMidcap 250 · +3 more
- Market cap
- ₹85,167 Cr
- P/E
- 33.34
- ROE
- 16.58%
- PEG
- 2.35
- Price to sales
- 2.93
- Debt to equity
- 0.00
- 52W high / low
- ₹2,043 / ₹1,428
- Sales growth (5Y)
- 17.29%
- EBITDA margin
- 11.29%
- Net profit margin
- 9.55%
- Promoter holding
- 51.28%
- Sales (last year)
- ₹29,038 Cr
ICICI Lombard General Insurance Co. Ltd is one of the leading and established private sector general insurance companies in India. It offers a well-diversified range of products and risk management solutions through multiple distribution channels.[1]
Guidance scorecard · Q2 FY27 call
What ICICI Lombard's management guided
and where it ranks in Insurance
RevenueQ2 FY27 call
10–20%- Motor segment is expected to see strong growth in Q3 and Q4 FY2027, driven by robust vehicle sales and festive season demand. The company maintains market leadership with continued momentum from improved retention and volume growth.
- Health insurance continues its rapid expansion, notably Retail Health with a 66.4% growth in H1 FY2027, outpacing industry growth, indicating sustained future growth potential.
- Commercial lines have shown improvement with positive momentum expected in H2 FY2027 due to a more disciplined market environment.
- The company anticipates maintaining earned premium growth above industry average (13.9% vs. 13.2%) into Q3 and Q4 FY2027.
2 more points from ICICI Lombard's call on revenue
Create a free account to keep reading this call
MarginsQ2 FY27 call
FlatSee what ICICI Lombard said on margins — free account, 30 seconds.
CapexQ2 FY27 call
- Continued investment in technology and innovation (e.g., IL TakeCare app with 23.3 million downloads).
- Emphasis on scaling digital sourcing from 6% to 15%.
- Strengthening partnerships and distribution reach, including bancassurance.
- Regulatory and industry reforms expected to improve distribution efficiency.
FundraisingQ2 FY27 call
See what ICICI Lombard said on fundraising — free account, 30 seconds.
Order bookQ2 FY27 call
Ask what ICICI Lombard said on the order book →
Full Q2 FY27 analysisRanges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Insurance
on management's own guidance
- Max FinancialModerate growth2
- Niva Bupa HealthGood growth1
- HDFC Life Insurance CompanyModerate growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
ICICI Lombard General Insurance Company latest results (Sep 2026)
Revenue
₹8,220 Cr
+20% YoY
Net profit
₹946 Cr
+15% YoY
Operating margin
15%
EPS
₹18.94
ICICI Lombard General Insurance Company shareholding (Sep 2026)
Promoters
51.28%
+0.06 pp QoQ
FIIs
18.34%
−3.11 pp QoQ
DIIs
23.82%
+3.18 pp QoQ
Public
6.44%
−0.13 pp QoQ
Peers
Insurance companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | Niva Bupa Health | 20–40% | Flat | ₹14,006 Cr | 40.6 |
| 2 | Max Financial | 10–20% | Up 0–2% | ₹44,431 Cr | 241.1 |
| 3 | HDFC Life Insurance Company | 10–20% | Flat | ₹1.22L Cr | 59.6 |
| 4 | 10–20% | Flat | ₹2,159 Cr | 19.2 |
Sign up free to see every company in the sector ranking and track ICICI Lombard.
Pro shows every company guiding 40%+ revenue growth →Full Insurance rankingFinancials of ICICI Lombard
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
ICICI Lombard
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 47.91% | 51.27% | 51.81% | 51.66% | 51.60% | 51.55% | 51.46% | 51.37% | 51.31% | 51.28% | 51.22% | 51.28% |
| FIIs + | 23.04% | 23.05% | 23.94% | 24.75% | 24.36% | 23.68% | 23.94% | 24.04% | 23.35% | 22.29% | 21.45% | 18.34% |
| DIIs + | 17.86% | 15.96% | 17.15% | 16.59% | 17.17% | 17.74% | 17.52% | 17.41% | 18.25% | 19.41% | 20.64% | 23.82% |
| Government + | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% |
| Public + | 11.09% | 9.59% | 7.00% | 6.91% | 6.74% | 6.93% | 6.97% | 7.08% | 6.98% | 6.90% | 6.57% | 6.44% |
| No. of Shareholders | 2,52,680 | 2,39,489 | 2,37,248 | 2,36,699 | 2,38,406 | 2,40,853 | 2,40,980 | 2,39,812 | 2,35,714 | 2,29,930 | 2,29,599 | 2,39,052 |
Financials of ICICI Lombard
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 5,271 | 5,194 | 5,391 | 5,601 | 6,147 | 6,161 | 6,051 | 6,396 | 6,869 | 6,905 | 6,825 | 7,088 | 8,220 |
| YoY Sales growth | +13% | +14% | +19% | +19% | +17% | +19% | +12% | +14% | +12% | +12% | +13% | +11% | +20% |
| Expenses + | 4,509 | 4,639 | 4,701 | 4,831 | 5,207 | 5,199 | 5,443 | 5,415 | 5,825 | 6,051 | 6,138 | 6,566 | 7,005 |
| Operating Profit | 762 | 555 | 690 | 770 | 940 | 962 | 609 | 981 | 1,044 | 854 | 686 | 522 | 1,215 |
| OPM % | 14% | 11% | 13% | 14% | 15% | 16% | 10% | 15% | 15% | 12% | 10% | 7% | 15% |
| Other Income + | 2 | 19 | 8 | 4 | -21 | -2 | 60 | 13 | 33 | 16 | 32 | 14 | 32 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 764 | 574 | 698 | 774 | 919 | 960 | 668 | 994 | 1,077 | 870 | 718 | 536 | 1,247 |
| Tax % | 24% | 25% | 26% | 25% | 24% | 25% | 24% | 25% | 24% | 24% | 24% | 25% | 24% |
| Net Profit + | 577 | 431 | 520 | 580 | 694 | 724 | 510 | 747 | 820 | 659 | 547 | 403 | 946 |
| EPS in Rs | 11.75 | 8.76 | 10.54 | 11.77 | 14.03 | 14.63 | 10.28 | 15.04 | 16.47 | 13.23 | 10.96 | 8.08 | 18.94 |
Financials of ICICI Lombard
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 4,234 | 6,033 | 7,520 | 6,912 | 11,163 | 11,517 | 12,161 | 16,026 | 17,876 | 20,572 | 23,961 | 26,994 | 29,038 |
| Sales growth | -3% | +42% | +25% | -8% | +62% | +3% | +6% | +32% | +12% | +15% | +16% | +13% | +14% |
| Expenses + | 4,456 | 5,269 | 6,601 | 7,174 | 9,494 | 9,745 | 10,090 | 15,010 | 16,612 | 17,918 | 20,554 | 23,264 | 25,760 |
| Operating Profit | -221 | 764 | 919 | -262 | 1,669 | 1,772 | 2,072 | 1,016 | 1,264 | 2,654 | 3,407 | 3,731 | 3,277 |
| OPM % | -5% | 13% | 12% | -3.8% | 15% | 15% | 17% | 6% | 7% | 13% | 14% | 14% | 11% |
| Other Income + | 992 | 0 | -2 | 1,569 | -2 | 15 | 12 | 809 | 991 | 35 | 39 | 93 | 94 |
| Interest | 12 | 0 | 0 | 59 | 70 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 54 | 57 | 7 | 51 | 0 | 90 | 130 | 141 | 142 | 134 | 124 | 165 | 0 |
| Profit before tax | 705 | 708 | 910 | 1,196 | 1,598 | 1,697 | 1,954 | 1,684 | 2,113 | 2,555 | 3,321 | 3,659 | 3,371 |
| Tax % | 17% | 28% | 23% | 28% | 34% | 30% | 25% | 24% | 18% | 25% | 24% | 24% | |
| Net Profit + | 585 | 507 | 702 | 862 | 1,049 | 1,194 | 1,473 | 1,271 | 1,729 | 1,919 | 2,508 | 2,772 | 2,555 |
| EPS in Rs | 13.11 | 11.34 | 15.56 | 18.98 | 23.10 | 26.27 | 32.40 | 25.89 | 35.21 | 38.94 | 50.60 | 55.61 | 51.21 |
| Dividend Payout % | 15% | 26% | 22% | 17% | 26% | 13% | 25% | 35% | 28% | 28% | 25% | 24% |
Financials of ICICI Lombard
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 447 | 448 | 451 | 454 | 454 | 454 | 455 | 491 | 491 | 493 | 496 | 498 | 500 |
| Reserves | 2,439 | 2,789 | 3,450 | 4,087 | 4,946 | 5,680 | 7,144 | 8,702 | 9,953 | 11,712 | 13,989 | 16,135 | 18,324 |
| Borrowings + | 0 | 0 | 485 | 485 | 485 | 485 | 485 | 255 | 35 | 35 | 0 | 0 | 0 |
| Other Liabilities + | 11,760 | 12,440 | 18,965 | 24,723 | 27,517 | 30,423 | 31,214 | 41,401 | 44,607 | 51,068 | 54,660 | 59,477 | 65,412 |
| Total Liabilities | 14,646 | 15,676 | 23,351 | 29,750 | 33,403 | 37,042 | 39,298 | 50,848 | 55,086 | 63,308 | 69,145 | 76,111 | 84,236 |
| Fixed Assets + | 381 | 510 | 516 | 368 | 1,965 | 664 | 717 | 941 | 883 | 930 | 728 | 834 | 862 |
| CWIP | 9 | 10 | 11 | 38 | 17 | 12 | 14 | 11 | 25 | 94 | 74 | 88 | 0 |
| Investments | 10,200 | 11,426 | 14,806 | 18,193 | 20,714 | 26,327 | 30,788 | 38,412 | 42,836 | 48,584 | 53,508 | 58,338 | 64,332 |
| Other Assets + | 4,056 | 3,730 | 8,018 | 11,151 | 10,707 | 10,039 | 7,779 | 11,485 | 11,342 | 13,700 | 14,835 | 16,851 | 19,041 |
| Total Assets | 14,646 | 15,676 | 23,351 | 29,750 | 33,403 | 37,042 | 39,298 | 50,848 | 55,086 | 63,308 | 69,145 | 76,111 | 84,236 |
Financials of ICICI Lombard
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | -98 | 511 | 1,628 | 2,390 | 2,976 | 3,433 | 1,774 | 809 | 2,290 | 2,407 | 1,147 | 2,622 |
| Cash from Investing Activity + | 171 | -310 | -1,990 | -1,896 | -2,856 | -3,382 | -1,367 | 135 | -1,685 | -1,921 | -1,137 | -1,733 |
| Cash from Financing Activity + | -93 | -148 | 361 | -96 | -310 | -420 | -212 | -879 | -695 | -355 | -257 | -336 |
| Net Cash Flow | -20 | 53 | -1 | 398 | -190 | -369 | 195 | 65 | -90 | 131 | -247 | 554 |
| Free Cash Flow | -150 | 459 | 1,574 | 2,315 | 2,860 | 3,130 | 1,695 | 737 | 2,170 | 2,217 | 918 | 2,380 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 44% | 67% | 177% | -912% | 178% | 222% | 103% | 117% | 206% | 115% | 57% | 105% |
Financials of ICICI Lombard
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 0 | 0 | 0 | 0 | 292 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 0 | 0 | 0 | 0 | 292 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Working Capital Days | -576 | -532 | -521 | -720 | -564 | -670 | -705 | -690 | -685 | -661 | -603 | -599 |
| ROCE % | 27% | 23% | 24% | 17% | 31% | 27% | 27% | 19% | 21% | 23% | 24% | 22% |
Guidance history
How ICICI Lombard's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q2 FY27 call → | 10–20% | Flat | — | — | — |
| Q1 FY27 call → | 10–20% | Flat | Planned | — | Rising |
| Q4 FY26 call → | 0–10% | Flat | Planned | — | — |
| Q3 FY26 call → | 10–20% | Flat | — | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
20 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,937 stocks |
|---|---|---|
| Last 12 months | −16.8% | 33% |
| Last 6 months | −7.8% | 32% |
| Last 3 months | +3.8% | 68% |
The price is 25.2% below its all-time high of ₹2,261.7 (6 Sept 2024). Stocks more than 20% below their peak have their score halved, so 39 became 20.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,937 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For ICICI Lombard: 0.4 × 33 + 0.4 × 32 + 0.2 × 68 = 39, halved to 20 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 13 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
ICICI Lombard General Insurance Company: frequently asked questions
What is ICICI Lombard General Insurance Company share price today?
ICICI Lombard General Insurance Company last traded at ₹1,691.2, with a market capitalisation of ₹85,167 Cr and a P/E ratio of 33.3.
What were ICICI Lombard General Insurance Company's latest quarterly results?
For the quarter ended Sep 2026, ICICI Lombard General Insurance Company reported revenue of ₹8,220 Cr (+20% year on year) and net profit of ₹946 Cr, with an operating margin of 15%.
Is ICICI Lombard General Insurance Company's profit growing?
Net profit was ₹946 Cr in Sep 2026 against ₹820 Cr in Sep 2025, a change of +15%.
What is ICICI Lombard General Insurance Company's EPS?
ICICI Lombard General Insurance Company's earnings per share for the quarter ended Sep 2026 was ₹18.94.
What is the promoter holding in ICICI Lombard General Insurance Company?
Promoters held 51.28% of ICICI Lombard General Insurance Company in Sep 2026 (+0.06 pp versus Jun 2026).
How much do FIIs and DIIs hold in ICICI Lombard General Insurance Company?
In Sep 2026, foreign institutional investors held 18.34% and domestic institutions (including mutual funds) held 23.82% of ICICI Lombard General Insurance Company.
What is ICICI Lombard General Insurance Company's ROE and ROCE?
ICICI Lombard General Insurance Company's return on equity is 16.6% and its return on capital employed is 21.9%.
Does ICICI Lombard General Insurance Company pay a dividend?
Yes. ICICI Lombard General Insurance Company's dividend yield is 0.82% at the current price. The full payout history is on the ICICI Lombard General Insurance Company dividends page.
Which sector does ICICI Lombard General Insurance Company belong to?
ICICI Lombard General Insurance Company is in the Insurance sector. Its peer comparison and sector ranking are on this page.
What did ICICI Lombard General Insurance Company's management say on the latest earnings call?
Arthneeti's analysis of the Q2 FY27 earnings call covers revenue, margins, capex and fundraising guidance from ICICI Lombard General Insurance Company's management.
How does Arthneeti AI analyse ICICI Lombard General Insurance Company?
Arthneeti reads ICICI Lombard General Insurance Company's earnings call transcripts and filings and scores revenue growth, margins, capex and fundraising, then ranks the company against its sector.
Continue your research
What ICICI Lombard's management said in earlier quarters
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