Arthneeti

ICICI Life Insurance Q2 FY27 Share Price & Earnings Call Analysis

₹455.55-2.44% today
Market cap
₹66,376 Cr
P/E
37.73
ROE
10.04%
PEG
1.47
Price to sales
1.00
Debt to equity
0.18
52W high / low
₹688 / ₹431
Sales growth (5Y)
-5.27%
EBITDA margin
1.19%
Net profit margin
2.52%
Promoter holding
74.70%
Sales (last year)
₹66,676 Cr

Guidance scorecard · Q2 FY27 call

What ICICI Life Insurance's management guided

Revenue10–20%MarginsFlatCapexWhat management saidFundraisingWhat management saidOrder bookWhat management said

RevenueQ2 FY27 call

10–20%
  • Agency channel is on an improving trajectory, showing positive growth in recent quarters, with a medium-term focus to deliver better growth than the overall company.
  • Direct channel grew by 10.9% YoY in H1-FY2027, with focus on scaling online business and digital capabilities.
  • Partnership distribution channel saw strong growth of 34.1% YoY in H1-FY2027; bancassurance channel also growing steadily.
  • Overall business growth is expected to be sustainable, focusing on balanced growth of protection and annuity products alongside savings.
  • Management intends to deliver sustainable growth rather than committing to specific double-digit targets, emphasizing quality growth and operational efficiencies.

2 more points from ICICI Life Insurance's call on revenue

Create a free account to keep reading this call

Full Q2 FY27 analysis

MarginsQ2 FY27 call

Flat

See what ICICI Life Insurance said on margins — free account, 30 seconds.

Full Q2 FY27 analysis

CapexQ2 FY27 call

  • There is an emphasis on leveraging technology, digital tools, and AI-driven initiatives to improve productivity and cost-efficiency.
  • Investment in agency channel continues with a 23% growth in gross addition of agents, reflecting commitment to distribution.
  • The company is also focused on strengthening proprietary channels and multi-partner distribution.
Full Q2 FY27 analysis

FundraisingQ2 FY27 call

See what ICICI Life Insurance said on fundraising — free account, 30 seconds.

Full Q2 FY27 analysis

Order bookQ2 FY27 call

Ask what ICICI Life Insurance said on the order book →

Full Q2 FY27 analysis

Ranges 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

This quarter's potential multibaggers
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does ICICI Life Insurance rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

ICICI Life Insurance latest results (Sep 2026)

Revenue

₹12,031 Cr

+1% YoY

Net profit

₹374 Cr

+25% YoY

Operating margin

3.2%

EPS

₹2.58

What management said on the call →

ICICI Life Insurance shareholding (Sep 2026)

Promoters

74.71%

+1.98 pp QoQ

FIIs

9.26%

−0.96 pp QoQ

DIIs

10.76%

−1.05 pp QoQ

Public

5.26%

+0.04 pp QoQ

Full shareholding pattern →Dividend history →

ICICI Life Insurance announcements

All announcements →

Financials of ICICI Life Insurance

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

ICICI Life Insurance

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +73.27%73.24%73.17%73.05%73.01%73.00%72.96%72.93%72.88%72.80%72.73%74.71%
FIIs +14.73%13.35%13.23%12.98%12.78%13.24%13.12%13.15%11.48%10.89%10.22%9.26%
DIIs +6.92%8.54%8.82%9.29%9.45%8.80%8.86%8.65%10.41%11.05%11.81%10.76%
Public +5.06%4.85%4.75%4.66%4.76%4.94%5.07%5.26%5.22%5.23%5.22%5.26%
No. of Shareholders3,58,7593,41,0393,29,3743,23,6613,26,2083,29,8973,41,3463,45,2733,36,2343,27,8413,19,8723,22,061

Financials of ICICI Life Insurance

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +17,38726,42922,48125,39525,1574,53615,68725,40011,93522,8333,29928,51312,031
YoY Sales growth-23%+52%+105%+9%+45%-83%-30%+0%-53%+403%-79%+12%+1%
Expenses +17,67626,57822,75325,35424,8314,28615,26225,17711,94022,0783,93828,21911,650
Operating Profit-289-150-27342327250424223-6755-639293382
OPM %-1.7%-0.6%-1.2%0.2%1.3%6%2.7%0.9%-0.1%3.3%-19%1.0%3.2%
Other Income +566416543231-23161175169399-25390517664
Interest0000000000000
Depreciation0000000000000
Profit before tax277266271272303411599392394502266470446
Tax %12%15%36%17%17%21%36%23%24%22%-129%18%16%
Net Profit +244227174225252326386302299390609386374
EPS in Rs1.701.581.211.561.742.252.672.092.072.704.202.662.58

Financials of ICICI Life Insurance

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +34,45120,84737,81438,83041,46021,02283,18063,56449,40089,67970,77563,46766,676
Sales growth+57%-39%+81%+3%+7%-49%+296%-24%-22%+82%-21%-10%+16%
Expenses +32,79519,00536,00737,05840,69521,33983,56565,72050,19190,55669,28562,00865,885
Operating Profit1,6561,8421,8071,772765-317-385-2,155-791-8771,4901,459791
OPM %4.8%9%4.8%4.6%1.9%-1.5%-0.5%-3.4%-1.6%-1.0%2.1%2.3%1.2%
Other Income +4301301325911,5781,6683,1791,9552,021230239893
Interest17015202300000000
Depreciation400584457616067841131331440
Profit before tax1,6421,8421,8641,8401,2761,2001,2239571,0811,0311,5871,5541,684
Tax %0%10%10%12%11%11%22%21%25%17%25%-3%
Net Profit +1,6401,6501,6821,6201,1411,0699607548118521,1891,6001,759
EPS in Rs11.4611.5211.7211.287.947.446.695.255.645.928.2311.0412.14
Dividend Payout %51%73%63%59%40%11%30%10%11%10%10%15%

Financials of ICICI Life Insurance

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital1,4321,4321,4351,4361,4361,4361,4361,4371,4391,4411,4451,4491,451
Reserves3,8343,8924,9735,1415,4405,7837,6837,7268,65314,55514,89814,08413,182
Borrowings +01,02900001,2001,2001,2001,2002,6002,5952,595
Other Liabilities +95,95098,413118,334135,245156,215148,817206,909234,077244,555281,805295,297301,607315,366
Total Liabilities101,216104,766124,743141,821163,090156,035217,228244,440255,847299,000314,240319,735332,594
Fixed Assets +2092122074044639329119169681,1671,3141,378715
CWIP67718132022541174935430
Investments99,492103,027121,586138,540159,009150,781211,736237,625247,731289,238303,490307,369322,543
Other Assets +1,5091,5202,9432,8593,6064,3014,5595,8457,0318,5469,40210,9449,335
Total Assets101,216104,766124,743141,821163,090156,035217,228244,440255,847299,000314,240319,735332,594

Financials of ICICI Life Insurance

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +5283,6364,1325,69311,3818,6007,3201,83188-7,305-9,400-5,341
Cash from Investing Activity +-1,82025-699-5,392-7,563-10,802-5,090-815-1,1477,4146,8617,557
Cash from Financing Activity +-966-1,442-994-1,188-843-4051,205-319-112-881,423-171
Net Cash Flow-2,2572,2192,439-8872,975-2,6083,434696-1,17221-1,1162,046
Free Cash Flow4763,5854,0815,62511,2738,5427,2811,736-107-7,539-9,655-5,461
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit32%197%229%321%1,487%-2,730%-1,956%-96%-46%807%-608%-326%

Financials of ICICI Life Insurance

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days030000000000
Inventory Days
Days Payable
Cash Conversion Cycle030000000000
Working Capital Days-10-16-2-9-9-5-2-6-523-1
ROCE %34%32%29%29%19%17%14%9%10%2%9%8%

Guidance history

How ICICI Life Insurance's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q2 FY27 call →10–20%Flat———
Q1 FY27 call →10–20%Flat——Rising
Q4 FY26 call →0–10%Flat———
Q3 FY26 call →10–20%Flat———

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

10out of 100

Momentum score · price trend

10 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,937 stocks
Last 12 months−27.7%18%
Last 6 months−14.9%19%
Last 3 months−10.5%30%

The price is 42.3% below its all-time high of ₹789.5 (27 Sept 2024). Stocks more than 20% below their peak have their score halved, so 21 became 10.

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 Life Insurance: 0.4 × 18 + 0.4 × 19 + 0.2 × 30 = 21, halved to 10 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 Life Insurance: frequently asked questions

What is ICICI Life Insurance share price today?

ICICI Life Insurance last traded at ₹455.55, with a market capitalisation of ₹66,376 Cr and a P/E ratio of 37.7.

What were ICICI Life Insurance's latest quarterly results?

For the quarter ended Sep 2026, ICICI Life Insurance reported revenue of ₹12,031 Cr (+1% year on year) and net profit of ₹374 Cr, with an operating margin of 3.2%.

Is ICICI Life Insurance's profit growing?

Net profit was ₹374 Cr in Sep 2026 against ₹299 Cr in Sep 2025, a change of +25%.

What is ICICI Life Insurance's EPS?

ICICI Life Insurance's earnings per share for the quarter ended Sep 2026 was ₹2.58.

What is the promoter holding in ICICI Life Insurance?

Promoters held 74.71% of ICICI Life Insurance in Sep 2026 (+1.98 pp versus Jun 2026).

How much do FIIs and DIIs hold in ICICI Life Insurance?

In Sep 2026, foreign institutional investors held 9.26% and domestic institutions (including mutual funds) held 10.76% of ICICI Life Insurance.

What is ICICI Life Insurance's ROE and ROCE?

ICICI Life Insurance's return on equity is 10% and its return on capital employed is 8.38%.

Does ICICI Life Insurance pay a dividend?

Yes. ICICI Life Insurance's dividend yield is 0.36% at the current price. The full payout history is on the ICICI Life Insurance dividends page.

What did ICICI Life Insurance'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 Life Insurance's management.

How does Arthneeti AI analyse ICICI Life Insurance?

Arthneeti reads ICICI Life Insurance'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 Life Insurance's management said in earlier quarters

Earlier calls (7)