Corporation of India informed about the transcript of Earning conference call
LICI · price
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LIC reported its highest-ever FY'26 results with PAT of Rs 57,419 crore (+19.25% YoY) and VNB of Rs 14,179 crore (+41.63% YoY). VNB margin improved 360 bps to 21.2%. Total premium income was Rs 5,36,000 crore (+9.8% YoY) with market share at 56.6%. Non-par business within individual APE grew 43.78% to Rs 15,214 crore, now constituting 35.11% of individual APE vs 27.69% last year. The company achieved its long-standing ambition of crossing Rs 5,000 crore through Bancassurance & Alternate Channels (+45.19% to Rs 5,076 crore). Management cited GST impact as a one-time 2.8% negative on margins and expressed caution on dividend policy ahead of risk-based capital (RBC) regulations due to LIC's large equity exposure. The board recommended dividend of Rs 10 per share (Rs 20 pre-bonus).
Strong operational performance with improving margins and VNB growth signals better profitability trajectory. Management's cautious stance on capital ahead of potential RBC changes may limit near-term dividend upside despite healthy solvency at 2.35x.