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Last Updated on: 21 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 540716 | NSE: ICICIGI

ICICI Lombard General Insurance Company Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 21, 2024, 10:03 pm

Market Cap 89,408 Cr.
Current Price 1,805
High / Low2,302/1,354
Stock P/E40.2
Book Value 275
Dividend Yield0.33 %
ROCE22.5 %
ROE17.0 %
Face Value 10.0
PEG Ratio7.01

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for ICICI Lombard General Insurance Company Ltd

Competitors of ICICI Lombard General Insurance Company Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
New India Assurance Company Ltd (NIACL) 28,190 Cr. 171325/16920.7 1851.21 %0.56 %1.19 % 5.00
ICICI Lombard General Insurance Company Ltd 89,408 Cr. 1,8052,302/1,35440.2 2750.33 %22.5 %17.0 % 10.0
Industry Average58,799.00 Cr988.0030.45230.000.77%11.53%9.10%7.50

All Competitor Stocks of ICICI Lombard General Insurance Company Ltd

Quarterly Result

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Sales4,0233,9764,0074,0204,1294,6694,5594,5194,7165,2515,1755,3915,601
Expenses3,7753,3883,5984,3913,6844,0954,1054,8744,2064,5074,6384,7014,831
Operating Profit248588409-371445574454-355510744537690770
OPM %6%15%10%-9%11%12%10%-8%11%14%10%13%14%
Other Income1161278120361192810203784
Interest0000000000000
Depreciation0000000000000
Profit before tax258594421410465610465573520764574698774
Tax %25%25%25%24%25%3%24%24%25%24%25%26%25%
Net Profit194447318313349591353437390577431520580
EPS in Rs4.279.116.476.377.1112.027.188.907.9511.758.7610.5411.77

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024TTM
Sales4,0124,3524,2346,0337,5206,91211,16311,51712,18316,02617,87620,48721,418
Expenses4,1914,5784,4565,2696,6017,1749,4949,74510,59415,01016,61217,91018,678
Operating Profit-178-225-221764919-2621,6691,7721,5891,0161,2642,5772,741
OPM %-4%-5%-5%13%12%-4%15%15%13%6%7%13%13%
Other Income5868179920-21,569-21549580999111269
Interest8912005970000000
Depreciation495054577510901301411421340
Profit before tax3515337057089101,1961,5981,6971,9541,6842,1132,5552,809
Tax %-0%3%17%28%23%28%34%30%25%24%18%25%
Net Profit3535205855077028621,0491,1941,4731,2711,7291,9192,109
EPS in Rs8.0711.6913.1111.3415.5618.9823.1026.2732.4025.8935.2138.9442.82
Dividend Payout %0%0%15%26%22%17%26%13%25%35%31%28%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)47.31%12.50%-13.33%38.46%22.79%21.69%13.82%23.37%-13.71%36.03%10.99%
Change in YoY Net Profit Growth (%)0.00%-34.81%-25.83%51.79%-15.67%-1.10%-7.87%9.54%-37.08%49.75%-25.05%

ICICI Lombard General Insurance Company Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:17%
5 Years:13%
3 Years:19%
TTM:17%
Compounded Profit Growth
10 Years:14%
5 Years:13%
3 Years:9%
TTM:27%
Stock Price CAGR
10 Years:%
5 Years:6%
3 Years:7%
1 Year:25%
Return on Equity
10 Years:18%
5 Years:18%
3 Years:17%
Last Year:17%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 11:33 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital437445447448451454454454455491491493495
Reserves1,4331,9492,4392,7893,4504,0874,9465,6807,1448,7029,95311,71213,127
Borrowings000048548548548548525535350
Other Liabilities10,76712,35011,76012,44018,96524,72327,51730,42331,21441,40144,60751,06854,392
Total Liabilities12,63714,74414,64615,67623,35129,75033,40337,04239,29850,84855,08663,30868,014
Fixed Assets3903733815105163681,965664717941883930760
CWIP101791011381712141125940
Investments7,8009,29010,20011,42614,80618,19320,71426,32730,78838,41242,83648,58451,557
Other Assets4,4365,0644,0563,7308,01811,15110,70710,0397,77911,48511,34213,70015,697
Total Assets12,63714,74414,64615,67623,35129,75033,40337,04239,29850,84855,08663,30868,014

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +984595-985111,6282,3902,9763,4331,7748092,2902,407
Cash from Investing Activity +-962-706171-310-1,990-1,896-2,856-3,382-1,367135-1,685-1,921
Cash from Financing Activity +1024-93-148361-96-310-420-212-879-695-355
Net Cash Flow124-108-2053-1398-190-36919565-90131

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-178.00-225.00-221.00764.00434.00-747.00-484.00-484.00-484.00-254.00-34.00-33.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days00000029200000
Inventory Days
Days Payable
Cash Conversion Cycle00000029200000
Working Capital Days-529-519-576-532-521-720-564-670-704-690-685-664
ROCE %18%26%27%23%24%17%31%27%27%19%21%23%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters48.08%48.05%48.04%48.03%48.02%48.02%48.02%48.01%48.00%47.91%51.27%51.81%
FIIs27.73%28.12%26.88%25.00%24.07%23.39%22.85%22.00%22.37%23.04%23.05%23.94%
DIIs10.54%13.47%13.73%15.37%15.89%16.68%17.23%18.10%18.41%17.86%15.96%17.15%
Government0.00%0.00%0.00%0.00%0.09%0.10%0.10%0.10%0.10%0.10%0.10%0.10%
Public13.65%10.36%11.34%11.59%11.92%11.79%11.79%11.79%11.11%11.09%9.59%7.00%
No. of Shareholders2,65,1042,75,0022,87,7012,91,4282,98,0482,92,2822,87,0232,75,3562,64,7102,52,6802,39,4892,37,248

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Focused Equity Fund5,700,0003.21144.452,000,0002024-11-20185%
SBI Equity Hybrid Fund4,400,0001.21883.432,000,0002024-11-20120%
ICICI Prudential Multi Asset Fund3,331,8911.44668.982,000,0002024-11-2066.59%
Nippon India Growth Fund2,000,0001.22401.562,000,0002024-11-200%
ICICI Prudential Value Discovery Fund1,887,1500.78378.92,000,0002024-11-20-5.64%
Aditya Birla Sun Life Flexi Cap Fund1,786,6411.57358.722,000,0002024-11-20-10.67%
Nippon India Large Cap Fund1,700,0001.07341.332,000,0002024-11-20-15%
SBI Flexi Cap Fund1,624,9231.43326.252,000,0002024-11-20-18.75%
Nippon India ELSS Tax Saver Fund1,500,0001.82301.172,000,0002024-11-20-25%
Kotak Small Cap Fund - Regular Plan1,000,0001.15200.782,000,0002024-11-20-50%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)39.0335.2125.9132.4126.27
Diluted EPS (Rs.)38.7835.1625.8232.2726.19
Cash EPS (Rs.)40.7438.1028.7732.4026.27
Book Value[Excl.RevalReserv]/Share (Rs.)247.71212.64192.89178.53125.54
Book Value[Incl.RevalReserv]/Share (Rs.)247.71212.64192.89178.53125.54
Dividend / Share (Rs.)11.0010.009.008.003.50
Revenue From Operations / Share (Rs.)371.39363.98290.63236.30222.51
PBDIT / Share (Rs.)55.2847.5537.9243.8638.22
PBIT / Share (Rs.)53.4944.6635.0343.8638.22
PBT / Share (Rs.)51.8643.0134.3042.9837.34
Net Profit / Share (Rs.)38.9435.2025.8932.4026.27
PBDIT Margin (%)14.8813.0613.0418.5617.17
PBIT Margin (%)14.4012.2612.0518.5617.17
PBT Margin (%)13.9611.8111.8018.1816.78
Net Profit Margin (%)10.489.678.9013.7111.80
Return on Networth / Equity (%)15.7216.5513.4218.1520.92
Return on Capital Employeed (%)20.2920.6117.6823.1828.05
Return On Assets (%)3.033.132.493.743.22
Long Term Debt / Equity (X)0.000.000.020.050.08
Total Debt / Equity (X)0.000.000.020.050.08
Asset Turnover Ratio (%)0.300.330.310.280.28
Current Ratio (X)0.260.240.270.240.31
Quick Ratio (X)0.260.240.270.240.31
Dividend Payout Ratio (NP) (%)26.8826.9829.7412.3426.64
Dividend Payout Ratio (CP) (%)25.6924.9226.7612.3426.64
Earning Retention Ratio (%)73.1273.0270.2687.6673.36
Cash Earning Retention Ratio (%)74.3175.0873.2487.6673.36
Interest Coverage Ratio (X)34.0228.9751.1849.8843.37
Interest Coverage Ratio (Post Tax) (X)24.9622.4535.9537.8530.81
Enterprise Value (Cr.)82720.3652355.2465177.2865528.0349384.75
EV / Net Operating Revenue (X)4.522.934.576.104.88
EV / EBITDA (X)30.3722.4235.0232.8628.43
MarketCap / Net Operating Revenue (X)4.542.944.576.084.84
Retention Ratios (%)73.1173.0170.2587.6573.35
Price / BV (X)6.805.036.898.048.58
Price / Net Operating Revenue (X)4.542.944.576.084.84
EarningsYield0.020.030.010.020.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of ICICI Lombard General Insurance Company Ltd as of November 21, 2024 is: 1,885.55

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of November 21, 2024, ICICI Lombard General Insurance Company Ltd is Undervalued by 4.46% compared to the current share price 1,805.00

Intrinsic Value of ICICI Lombard General Insurance Company Ltd as of November 21, 2024 is: 1,993.69

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 21, 2024, ICICI Lombard General Insurance Company Ltd is Undervalued by 10.45% compared to the current share price 1,805.00

Last 5 Year EPS CAGR: 5.74%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 23.58%, which is a positive sign.
  2. The stock has a low average Working Capital Days of -614.50, which is a positive sign.
  3. The company has higher reserves (5,954.69 cr) compared to borrowings (211.54 cr), indicating strong financial stability.
  4. The company has shown consistent growth in sales (10.69 cr) and profit (247.54 cr) over the years.
  1. The stock has a high average Cash Conversion Cycle of 24.33, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in ICICI Lombard General Insurance Company Ltd:
    1. Net Profit Margin: 10.48%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 20.29% (Industry Average ROCE: 11.53%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 15.72% (Industry Average ROE: 9.1%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 24.96
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 0.26
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 40.2 (Industry average Stock P/E: 30.45)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

ICICI Lombard General Insurance Company Ltd. is a Public Limited Listed company incorporated on 30/10/2000 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L67200MH2000PLC129408 and registration number is 129408. Currently Company is involved in the business activities of Non-life insurance. Company’s Total Operating Revenue is Rs. 14266.68 Cr. and Equity Capital is Rs. 490.89 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Finance - Non Life InsuranceICICI Lombard House, Mumbai Maharashtra 400025investors@icicilombard.com
http://www.icicilombard.com
Management
NamePosition Held
Mrs. Lalita D GupteChairperson
Mr. Sanjeev MantriManaging Director & CEO
Mr. Alok Kumar AgarwalExecutive Director
Mr. Sandeep BatraNon Exe.Non Ind.Director
Mr. Rakesh JhaNon Exe.Non Ind.Director
Mr. Uday ChitaleInd. Non-Executive Director
Mr. Suresh KumarInd. Non-Executive Director
Mr. Ved Prakash ChaturvediInd. Non-Executive Director
Mr. Murali SivaramanInd. Non-Executive Director
Mr. Antony JacobInd. Non-Executive Director
Ms. Preeti ReddyInd. Non-Executive Director

FAQ

What is the latest intrinsic value of ICICI Lombard General Insurance Company Ltd?

The latest intrinsic value of ICICI Lombard General Insurance Company Ltd as on 21 November 2024 is ₹1885.55, which is 4.46% higher than the current market price of ₹1,805.00.

What is the Market Cap of ICICI Lombard General Insurance Company Ltd?

The Market Cap of ICICI Lombard General Insurance Company Ltd is 89,408 Cr..

What is the current Stock Price of ICICI Lombard General Insurance Company Ltd as on 21 November 2024?

The current stock price of ICICI Lombard General Insurance Company Ltd as on 21 November 2024 is ₹1,805.

What is the High / Low of ICICI Lombard General Insurance Company Ltd stocks in FY 2024?

In FY 2024, the High / Low of ICICI Lombard General Insurance Company Ltd stocks is 2,302/1,354.

What is the Stock P/E of ICICI Lombard General Insurance Company Ltd?

The Stock P/E of ICICI Lombard General Insurance Company Ltd is 40.2.

What is the Book Value of ICICI Lombard General Insurance Company Ltd?

The Book Value of ICICI Lombard General Insurance Company Ltd is 275.

What is the Dividend Yield of ICICI Lombard General Insurance Company Ltd?

The Dividend Yield of ICICI Lombard General Insurance Company Ltd is 0.33 %.

What is the ROCE of ICICI Lombard General Insurance Company Ltd?

The ROCE of ICICI Lombard General Insurance Company Ltd is 22.5 %.

What is the ROE of ICICI Lombard General Insurance Company Ltd?

The ROE of ICICI Lombard General Insurance Company Ltd is 17.0 %.

What is the Face Value of ICICI Lombard General Insurance Company Ltd?

The Face Value of ICICI Lombard General Insurance Company Ltd is 10.0.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in ICICI Lombard General Insurance Company Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE