The life insurer expanded its second-quarter net profit by 20% year-on-year to Rs 12,115 crore, supported by net premium income rising over 16% to Rs 1.47 lakh crore. While overall operational metrics improved, the bottom line contracted 11% compared to the first quarter, and the solvency ratio slipped sequentially from 2.42 to 2.35. Jefferies lowered its target price to Rs 510 while keeping a Buy rating, noting positive product mix changes and high sensitivity to equities. Other institutional brokerages expect a growth rebound across the second half of FY27 driven by new offerings and unit-linked insurance plans.
Key points
Jefferies sustained a Buy recommendation with a trimmed target of Rs 510 based on distrib…: Jefferies sustained a Buy recommendation with a trimmed target of Rs 510 based on distribution reforms and equity upside.
Systematix Institutional Equities raised its target price to Rs 470 in anticipation of an…: Systematix Institutional Equities raised its target price to Rs 470 in anticipation of an operational recovery in unit-linked insurance plans.
A sequential decline in both net profit and solvency metrics contributed to the company's…: A sequential decline in both net profit and solvency metrics contributed to the company's shares dropping to Rs 396.45.
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While the bottom line increased from the same period last year, it declined 11% from the Rs 13,548 crore reported in the first quarter of the same financial year. Net premium income meanwhile increased over 16% YoY to Rs 1.47 lakh crore, from Rs 1.26 lakh crore in the September quarter of FY26. This growth in premium income was largely driven by a sharp increase in single-premium collections, reflecting higher contributions from policies where customers pay the entire premium upfront. The shares of the company fell to Rs 396.45 apiece on Friday morning.
Net investment income in the shareholders' account increased by around 38% YoY to Rs 2,855 crore, from Rs 2,066 crore a year-ago. LIC's solvency ratio improved to 2.35 as of September 2026, from 2.13 a year earlier. However, the ratio declined sequentially from 2.42 in the June quarter. The insurer's expense of management ratio improved to 10.26% from 12.05% a year earlier, reflecting better cost efficiency.
Also read | LIC Q2 Results: Profit jumps 20% YoY to Rs 12,115 crore,…
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