ICICI Prudential Life Insurance Company Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹438.20Overvalued by 14.25%vs CMP ₹511.00

P/E (46.1) × ROE (12.6%) × BV (₹94.00) × DY (0.32%)

₹203.98Overvalued by 60.08%vs CMP ₹511.00

MoS: -150.5% (Negative)Confidence: 58/100 (Moderate)Models: 2 Fair, 7 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹492.41	22%	Fair (-3.6%)
Graham Number	Earnings	₹141.45	16%	Over (-72.3%)
Earnings Power	Earnings	₹33.82	13%	Over (-93.4%)
DCF	Cash Flow	₹154.40	13%	Over (-69.8%)
Net Asset Value	Assets	₹93.91	7%	Over (-81.6%)
EV/EBITDA	Enterprise	₹88.85	9%	Over (-82.6%)
Earnings Yield	Earnings	₹94.60	7%	Over (-81.5%)
ROCE Capital	Returns	₹5.96	7%	Over (-98.8%)
Revenue Multiple	Revenue	₹487.61	5%	Fair (-4.6%)
Consensus (9 models)		₹203.98	100%	Overvalued

Key Drivers: Wide model spread (₹6–₹492) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 12.4%

*Investments are subject to market risks

Analysis summary

Data coverage: Price-data record updated 25 August 2026, 6:51 am +05:30. Annual results through Mar 2025; quarterly results through Dec 2025; cash flow through Mar 2026. Each section can have a different reporting period. The share price is not live.

Valuation in context

Operating performance

Revenue for Mar 2025 was ₹70,778.00 Cr, versus ₹89,683.00 Cr in Mar 2024 (-21.1% year on year). Net profit for Mar 2025 was ₹1,186.00 Cr, versus ₹851.00 Cr in Mar 2024 (39.4% year on year). These are the latest annual periods stored on this page; check the quarterly table separately for more recent developments.

Cash generation

For the same Mar 2025 period, operating cash flow was ₹-9,408.00 Cr against net profit of ₹1,186.00 Cr. Cash flow covered -7.93 times reported profit. The gap warrants checking receivables, working capital and one-off items in the cash-flow statement. For financial businesses, lending and investment movements can dominate operating cash flow; also examine asset quality, capital adequacy and the business mix.

Balance-sheet check

Reported borrowings were ₹2,595.00 Cr in Mar 2026. Read this alongside cash, interest costs and repayment obligations; reserves are an accounting balance and are not the same as available cash.

How to use the valuation and peer comparisons

The Intrinsic Value panel combines the available model estimates using the displayed weights. Earnings, cash-flow, dividend and asset-based methods can give very different answers. The displayed 12% cost of equity and 4% terminal growth assumptions apply where relevant; historical EPS growth is not a promise of future growth. Use the individual values and their spread to judge sensitivity.

The peer group follows the stored industry classification and may include different business models. Compare reporting periods, leverage and recurring earnings before interpreting a valuation gap. For banks and other financial businesses, capital adequacy and asset quality can be more informative than industrial-company cash-flow ratios.

Sources: Company data source. Check the company filings linked by the source for the reporting basis and exceptional items.

Automatically generated interpretation of the stored financial data, not a separately researched analyst opinion. Missing data is not evidence of poor performance. New filings become available here after the existing data refresh process captures them.

Investment Snapshot

ICICI Prudential Life Insurance Company Ltd scores 64/100 (Average)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health79/100 · Strong

ROCE 10.1% AverageROE 12.6% GoodD/E 0.21 Low debtInterest Coverage 10.6x StrongProfitable 5/5 available years Reported history

Smart Money45/100 · Moderate

FII holding down -2.93% (6mo) SellingDII holding up 3.16% MF buyingPromoter holding at 72.7% Stable

Earnings Quality50/100 · Moderate

CFO/NP ratio: -5.84x Poor cash conversionOPM expanding (-3% → 1%) Improving

Quarterly Momentum70/100 · Strong

Revenue (4Q): -2% YoY FlatProfit (4Q): +41% YoY Strong

Industry Rank60/100 · Moderate

P/E 46.1 vs industry 136.0 Lower P/EROCE 10.1% vs industry 14.7% Average3Y sales CAGR: 4% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores use stored reporting periods and are screening indicators, not investment recommendations. Missing health ratios are excluded. Broad industry groups and financial-sector accounting can limit comparability.

Share Price and Basic Stock Data

Last Updated: August 25, 2026, 6:51 am

Market Cap	74,173 Cr.
Current Price	511
Intrinsic Value	₹203.98
High / Low	707/460
Stock P/E	46.1
Book Value	94.0
Dividend Yield	0.32 %
ROCE	10.1 %
ROE	12.6 %
Face Value	10.0
PEG Ratio	3.73

Understand these figures: how to read the P/E ratio, ROE versus earnings per share, and calculate intrinsic value.

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for ICICI Prudential Life Insurance Company Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
ICICI Prudential Life Insurance Company Ltd	74,173 Cr.	511	707/460	46.1	94.0	0.32 %	10.1 %	12.6 %	10.0
Max Financial Services Ltd	54,176 Cr.	1,570	1,892/1,408	499	153	0.00 %	2.87 %	1.52 %	2.00
HDFC Life Insurance Company Ltd	1,20,127 Cr.	553	815/530	60.8	90.0	0.38 %	10.3 %	11.3 %	10.0
SBI Life Insurance Company Ltd (SBILIFE)	1,69,034 Cr.	1,685	2,133/1,671	65.0	201	0.16 %	15.0 %	13.7 %	10.0
Life Insurance Corporation of India	5,38,004 Cr.	425	468/361	8.97	0.00	2.34 %	35.1 %	37.8 %	10.0
Industry Average	191,102.80 Cr	948.80		135.97	107.60	0.64%	14.67%	15.38%	8.40

All Competitor Stocks of ICICI Prudential Life Insurance Company Ltd

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	17,426	10,984	23,384	17,388	26,430	22,482	25,396	25,158	4,536	15,687	25,401	11,936	22,834
Expenses	17,502	11,400	23,663	17,682	26,584	22,760	25,362	24,839	4,295	15,272	25,188	11,955	22,093
Operating Profit	-76	-416	-280	-293	-155	-278	34	319	241	415	213	-19	741
OPM %	-0%	-4%	-1%	-2%	-1%	-1%	0%	1%	5%	3%	1%	-0%	3%
Other Income	352	780	496	570	420	549	237	-17	169	183	177	408	-243
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	277	364	216	276	265	270	271	302	410	598	390	389	498
Tax %	20%	35%	5%	12%	14%	36%	17%	17%	21%	36%	23%	24%	22%
Net Profit	222	235	206	244	227	174	224	251	325	385	301	296	387
EPS in Rs	1.54	1.64	1.43	1.69	1.58	1.21	1.56	1.74	2.25	2.67	2.08	2.04	2.67

Last Updated: February 5, 2026, 3:06 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 11:16 am

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	21,888	34,453	20,849	37,816	38,832	41,463	21,025	83,182	63,564	50,478	89,683	70,778	75,859
Expenses	20,384	32,798	19,008	36,010	37,062	40,922	21,344	83,572	65,728	52,235	90,580	69,621	74,509
Operating Profit	1,504	1,655	1,842	1,806	1,771	541	-319	-390	-2,163	-1,757	-897	1,157	1,350
OPM %	7%	5%	9%	5%	5%	1%	-2%	-0%	-3%	-3%	-1%	2%	2%
Other Income	129	43	0	130	132	813	1,578	1,669	3,191	2,925	2,039	558	526
Interest	15	17	0	15	20	23	0	0	0	0	0	0	0
Depreciation	47	40	0	58	44	57	61	60	67	84	113	134	0
Profit before tax	1,572	1,642	1,842	1,863	1,839	1,274	1,198	1,219	961	1,085	1,028	1,582	1,876
Tax %	1%	0%	10%	10%	12%	11%	11%	22%	21%	25%	17%	25%
Net Profit	1,561	1,640	1,650	1,682	1,619	1,139	1,067	956	759	813	851	1,186	1,369
EPS in Rs	10.92	11.46	11.52	11.72	11.28	7.93	7.43	6.66	5.28	5.65	5.90	8.20	9.46
Dividend Payout %	70%	51%	73%	63%	59%	40%	11%	30%	10%	11%	10%	10%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	5.06%	0.61%	1.94%	-3.75%	-29.65%	-6.32%	-10.40%	-20.61%	7.11%	4.67%	39.37%
Change in YoY Net Profit Growth (%)	0.00%	-4.45%	1.33%	-5.68%	-25.90%	23.33%	-4.08%	-10.20%	27.72%	-2.44%	34.69%

ICICI Prudential Life Insurance Company Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	7%
5 Years:	27%
3 Years:	4%
TTM:	-23%

Compounded Profit Growth
10 Years:	-3%
5 Years:	2%
3 Years:	16%
TTM:	45%

Stock Price CAGR
10 Years:	%
5 Years:	7%
3 Years:	0%
1 Year:	-21%

Return on Equity
10 Years:	14%
5 Years:	9%
3 Years:	9%
Last Year:	10%

Last Updated: September 5, 2025, 6:45 am

Balance Sheet

Last Updated: July 2, 2026, 3:30 am

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	1,432	1,432	1,435	1,436	1,436	1,436	1,436	1,437	1,439	1,441	1,445	1,449
Reserves	3,833	3,891	4,971	5,138	5,435	5,777	7,673	7,721	8,651	9,564	10,488	12,182
Borrowings	0	1,029	0	0	0	0	1,200	1,200	1,200	1,200	2,600	2,595
Other Liabilities	95,951	98,413	118,335	135,245	156,215	148,818	206,911	234,079	244,562	286,796	299,705	303,509
Total Liabilities	101,215	104,765	124,741	141,819	163,086	156,031	217,220	244,437	255,851	299,001	314,239	319,735
Fixed Assets	209	212	207	404	463	932	911	433	479	1,168	1,315	1,378
CWIP	6	7	7	18	13	20	22	54	117	49	36	43
Investments	99,491	103,024	121,581	138,537	159,003	150,776	211,727	238,101	248,216	289,230	303,475	307,369
Other Assets	1,509	1,522	2,946	2,859	3,607	4,303	4,560	5,848	7,039	8,553	9,412	10,944
Total Assets	101,215	104,765	124,741	141,819	163,086	156,031	217,220	244,437	255,851	299,001	314,239	319,735

Reserves and Borrowings Chart

Cash Flow

Month	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 +	523	3,634	4,130	5,690	11,377	8,596	7,314	1,831	89	-7,315	-9,408	-5,355
Cash from Investing Activity +	-1,822	27	-696	-5,389	-7,559	-10,797	-5,084	-816	-1,145	7,420	6,869	7,571
Cash from Financing Activity +	-966	-1,442	-994	-1,188	-843	-405	1,205	-319	-112	-88	1,422	-171
Net Cash Flow	-2,264	2,219	2,439	-887	2,975	-2,606	3,434	696	-1,168	17	-1,116	2,045
Free Cash Flow	471	3,583	4,078	5,622	11,270	-112,909	7,279	1,736	-105	-7,550	-9,663	-5,473
CFO/OP	32%	208%	229%	321%	2,103%	-2,710%	-1,930%	-95%	-21%	790%	-623%	-365%

Free Cash Flow

Free cash flow reported in the stored cash-flow statement (₹ Cr)
Period	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Free Cash Flow	471.00	3,583.00	4,078.00	5,622.00	11,270.00	-112,909.00	7,279.00	1,736.00	-105.00	-7,550.00	-9,663.00	-5,473.00

This table and the chart use the Free Cash Flow row from the same stored cash-flow statement. Free cash flow generally measures operating cash flow after capital expenditure; check the source definition and reporting basis. It is not operating profit minus borrowings.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	0	0	3	0	0	0	0	0	0	0	0	0
Inventory Days
Days Payable
Cash Conversion Cycle	0	0	3	0	0	0	0	0	0	0	0	0
Working Capital Days	-17	-10	-16	-2	-9	-9	-5	-2	-6	-5	2	3
ROCE %	38%	34%	32%	29%	29%	16%	17%	14%	9%	10%	9%	12%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	73.30%	73.27%	73.24%	73.17%	73.05%	73.01%	73.00%	72.96%	72.93%	72.88%	72.80%	72.73%
FIIs	15.51%	14.73%	13.35%	13.23%	12.98%	12.78%	13.24%	13.12%	13.15%	11.48%	10.89%	10.22%
DIIs	6.37%	6.92%	8.54%	8.82%	9.29%	9.45%	8.80%	8.86%	8.65%	10.41%	11.05%	11.81%
Public	4.81%	5.06%	4.85%	4.75%	4.66%	4.76%	4.94%	5.07%	5.26%	5.22%	5.23%	5.22%
No. of Shareholders	3,52,395	3,58,759	3,41,039	3,29,374	3,23,661	3,26,208	3,29,897	3,41,346	3,45,273	3,36,234	3,27,841	3,19,872

Shareholding Pattern Chart

No. of Shareholders

ICICI Prudential Life Insurance Company Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
ICICI Prudential Large Cap Fund	16,342,087	1.36	1040.75	16,844,782	2026-02-23 07:04:07	-2.98%
SBI Large Cap Fund	10,121,950	1.18	644.62	9,380,396	2026-02-23 03:29:49	7.91%
ICICI Prudential Multi Asset Fund	9,020,624	0.71	574.48	8,621,312	2026-02-23 07:04:07	4.63%
SBI Contra Fund	8,824,999	1.15	562.02	1,824,999	2025-12-08 07:44:19	383.56%
SBI Midcap Fund	8,082,325	2.3	514.72	N/A	N/A	N/A
ICICI Prudential Large & Mid Cap Fund	7,217,902	1.67	459.67	6,753,279	2026-02-23 07:04:07	6.88%
SBI ELSS Tax Saver Fund	6,904,842	1.38	439.73	N/A	N/A	N/A
SBI Balanced Advantage Fund	5,629,765	0.89	358.53	4,309,217	2025-12-08 06:40:04	30.64%
SBI Banking & Financial Services Fund	4,536,806	2.77	288.93	3,900,000	2026-02-23 07:04:07	16.33%
SBI Flexicap Fund	3,365,186	0.93	214.31	N/A	N/A	N/A

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	8.21	5.91	5.66	5.28	6.66
Diluted EPS (Rs.)	8.16	5.89	5.65	5.26	6.65
Cash EPS (Rs.)	9.13	6.69	6.24	5.75	7.08
Book Value[Excl.RevalReserv]/Share (Rs.)	82.29	76.12	69.90	63.50	84.28
Book Value[Incl.RevalReserv]/Share (Rs.)	82.57	76.39	70.13	63.72	84.76
Revenue From Operations / Share (Rs.)	489.70	622.53	343.42	433.49	579.27
PBDIT / Share (Rs.)	10.68	6.12	10.89	8.15	9.97
PBIT / Share (Rs.)	9.76	5.33	10.31	7.69	9.56
PBT / Share (Rs.)	8.75	4.48	9.53	6.89	9.33
Net Profit / Share (Rs.)	8.20	5.90	5.65	5.28	6.66
NP After MI And SOA / Share (Rs.)	8.20	5.90	5.65	5.28	6.66
PBDIT Margin (%)	2.18	0.98	3.17	1.88	1.72
PBIT Margin (%)	1.99	0.85	3.00	1.77	1.65
PBT Margin (%)	1.78	0.71	2.77	1.59	1.61
Net Profit Margin (%)	1.67	0.94	1.64	1.21	1.14
NP After MI And SOA Margin (%)	1.67	0.94	1.64	1.21	1.14
Return on Networth / Equity (%)	9.96	7.75	8.09	8.31	7.90
Return on Capital Employeed (%)	0.45	0.26	0.59	0.46	0.64
Return On Assets (%)	0.37	0.28	0.31	0.31	0.44
Long Term Debt / Equity (X)	0.21	0.10	0.11	0.13	0.09
Total Debt / Equity (X)	0.21	0.10	0.11	0.13	0.09
Asset Turnover Ratio (%)	0.23	0.32	0.19	0.26	0.44
Current Ratio (X)	1.29	1.24	1.01	0.93	1.04
Quick Ratio (X)	1.29	1.24	1.01	0.93	1.04
Dividend Payout Ratio (NP) (%)	7.29	10.14	9.71	37.84	0.00
Dividend Payout Ratio (CP) (%)	6.55	8.95	8.81	34.77	0.00
Earning Retention Ratio (%)	92.71	89.86	90.29	62.16	0.00
Cash Earning Retention Ratio (%)	93.45	91.05	91.19	65.23	0.00
Interest Coverage Ratio (X)	10.60	7.19	13.85	10.29	43.57
Interest Coverage Ratio (Post Tax) (X)	6.96	4.82	10.71	7.93	33.75
Enterprise Value (Cr.)	83325.68	88088.58	63088.95	72358.44	64578.41
EV / Net Operating Revenue (X)	1.18	0.98	1.28	1.16	0.77
EV / EBITDA (X)	53.98	99.93	40.26	61.75	45.08
MarketCap / Net Operating Revenue (X)	1.15	0.97	1.27	1.15	0.76
Retention Ratios (%)	92.70	89.85	90.28	62.15	0.00
Price / BV (X)	6.87	8.00	6.23	7.87	5.28
Price / Net Operating Revenue (X)	1.15	0.97	1.27	1.15	0.76
EarningsYield	0.01	0.01	0.01	0.01	0.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Frequently asked questions

What is the intrinsic value of ICICI Prudential Life Insurance Company Ltd and is it undervalued?

ICICI Prudential Life Insurance Company Ltd: the stored intrinsic value estimate is ₹203.98, compared with a stored share price of ₹511.00. The model value is 60.1% below that quote. The model classifies this as overvalued; it is an estimate dependent on the inputs and assumptions, not a price target or a buy/sell recommendation. The estimate uses the available valuation models and weights shown in the Intrinsic Value panel, including earnings, cash-flow and asset-based approaches where data permits. It is not a P/E-only calculation.

What share price and 52-week range are shown for ICICI Prudential Life Insurance Company Ltd?

The stored share price is ₹511.00. Price-data record updated: 25 August 2026, 6:51 am +05:30. This is not a live quote. The stored 52-week high / low is 707/460; this is a rolling range, not a financial-year range.

How have ICICI Prudential Life Insurance Company Ltd's revenue and profit changed?

Does ICICI Prudential Life Insurance Company Ltd's profit convert into cash?

What should I check in ICICI Prudential Life Insurance Company Ltd's balance sheet?

Reported borrowings were ₹2,595.00 Cr in Mar 2026. Read this alongside cash, interest costs and repayment obligations; reserves are an accounting balance and are not the same as available cash.

How should I compare ICICI Prudential Life Insurance Company Ltd's P/E with other stocks?

The stored P/E is 46.10. Compare companies with similar business models, growth, leverage and accounting periods. The industry group on this page is broad, and its average can be affected by outliers. A lower P/E alone does not establish undervaluation.

What could change ICICI Prudential Life Insurance Company Ltd's intrinsic value estimate?

Changes in sustainable earnings, cash generation, capital needs, debt and share count can change the estimate. The displayed model uses a 12% cost of equity and 4% terminal growth assumption where applicable. Higher discount rates or weaker growth generally reduce discounted values. Compare the individual model values and weights, and verify fresh filings before relying on the result.