HDFC Life Insurance Company Limited has informed the Exchange about Transcript
HDFCLIFE · price
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HDFC Life reported FY25 individual APE growth of 18%, in line with its stated aspiration, with industry market share expanding 70 bps to 11.1%. Value of New Business grew 13% to Rs. 3,962 crore at a margin of 25.6%, while embedded value rose to Rs. 55,423 crore with a 16.7% operating RoEV. Profit after tax was up 15% to Rs. 1,802 crore, solvency ratio stood at a strong 194% after raising Rs. 2,000 crore of sub-debt, and persistency improved to 87% (13th month) and 63% (61st month). The board recommended a final dividend of Rs. 2.10 per share. Management reiterated its aspiration to double key metrics every 4-4.5 years, expects margins to remain range-bound in the short term as it invests in distribution and technology, with a slight upward bias over a 4-year horizon.
Strong FY25 performance with market share gains, healthy VNB growth, and improving persistency is positive for the stock. However, near-term margins are likely to stay flat due to higher investments, which may temper valuation re-rating until cost benefits from Project INSPIRE and agency build-out materialise.