SBI Life Insurance Company Ltd.
SBILIFEFinancial Services filings
Earnings calls
17 transcript(s)/analyst meet(s) served; 0 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (1 of 17 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20220505 | 2022-03-31 | yes | |
| TRANSCRIPT | 20220803 | 2022-06-30 | yes | |
| TRANSCRIPT | 20221101 | 2022-09-30 | yes | |
| TRANSCRIPT | 20230127 | 2022-12-31 | yes | |
| TRANSCRIPT | 20230503 | 2023-03-31 | yes | |
| TRANSCRIPT | 20240201 | 2023-03-31 | yes | |
| TRANSCRIPT | 20240503 | 2023-03-31 | yes | |
| TRANSCRIPT | 20231031 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240731 | 2024-03-31 | yes | |
| TRANSCRIPT | 20241030 | 2024-03-31 | yes | |
| TRANSCRIPT | 20250124 | 2024-03-31 | yes | |
| TRANSCRIPT | 20250502 | 2025-03-31 | yes | |
| TRANSCRIPT | 20250731 | 2025-06-30 | yes | |
| TRANSCRIPT | 20251031 | 2025-09-30 | yes | |
| TRANSCRIPT | 20260203 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260428 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260730 | 2026-06-30 | yes |
Model workbook
Download SBILIFE_model_v2.xlsx — every figure in it names the filing, the reporting context and the period it was read from.
Commentary — cross-call tabulation
| Quarter | Theme | Management sentences | Analyst sentences | Management share |
|---|---|---|---|---|
| Q1FY23 | AI and technology | 4 | 2 | 0.01 |
| Q1FY23 | Capex and capacity | 2 | 0 | 0.01 |
| Q1FY23 | Capital allocation | 0 | 0 | 0.00 |
| Q1FY23 | Competition | 2 | 1 | 0.01 |
| Q1FY23 | Credit quality | 1 | 0 | 0.00 |
| Q1FY23 | Currency and macro | 3 | 0 | 0.01 |
| Q1FY23 | Demand and volumes | 8 | 3 | 0.03 |
| Q1FY23 | Deposits and liquidity | 0 | 0 | 0.00 |
| Q1FY23 | Distribution and persistency | 10 | 6 | 0.03 |
| Q1FY23 | Margins and costs | 12 | 6 | 0.04 |
| Q1FY23 | People and attrition | 0 | 0 | 0.00 |
| Q1FY23 | Pricing and realisation | 9 | 6 | 0.03 |
| Q1FY23 | Raw materials and input costs | 0 | 0 | 0.00 |
| Q1FY23 | Regulation and policy | 6 | 3 | 0.02 |
| Q1FY26 | AI and technology | 2 | 0 | 0.01 |
| Q1FY26 | Capex and capacity | 4 | 5 | 0.02 |
| Q1FY26 | Capital allocation | 0 | 0 | 0.00 |
| Q1FY26 | Competition | 0 | 0 | 0.00 |
| Q1FY26 | Credit quality | 1 | 1 | 0.00 |
| Q1FY26 | Currency and macro | 0 | 0 | 0.00 |
| Q1FY26 | Demand and volumes | 1 | 0 | 0.00 |
| Q1FY26 | Deposits and liquidity | 1 | 0 | 0.00 |
| Q1FY26 | Distribution and persistency | 27 | 29 | 0.13 |
| Q1FY26 | Margins and costs | 21 | 10 | 0.10 |
| Q1FY26 | People and attrition | 0 | 0 | 0.00 |
| Q1FY26 | Pricing and realisation | 17 | 11 | 0.08 |
| Q1FY26 | Raw materials and input costs | 0 | 0 | 0.00 |
| Q1FY26 | Regulation and policy | 4 | 2 | 0.02 |
| Q1FY27 | AI and technology | 1 | 0 | 0.01 |
| Q1FY27 | Capex and capacity | 2 | 0 | 0.01 |
| Q1FY27 | Capital allocation | 0 | 2 | 0.00 |
| Q1FY27 | Competition | 0 | 0 | 0.00 |
| Q1FY27 | Credit quality | 1 | 0 | 0.01 |
| Q1FY27 | Currency and macro | 0 | 0 | 0.00 |
| Q1FY27 | Demand and volumes | 1 | 0 | 0.01 |
| Q1FY27 | Deposits and liquidity | 0 | 0 | 0.00 |
| Q1FY27 | Distribution and persistency | 15 | 2 | 0.09 |
| Q1FY27 | Margins and costs | 14 | 5 | 0.08 |
| Q1FY27 | People and attrition | 0 | 0 | 0.00 |
| Q1FY27 | Pricing and realisation | 10 | 7 | 0.06 |
| Q1FY27 | Raw materials and input costs | 0 | 0 | 0.00 |
| Q1FY27 | Regulation and policy | 9 | 5 | 0.05 |
| Q2FY23 | AI and technology | 5 | 2 | 0.03 |
| Q2FY23 | Capex and capacity | 1 | 7 | 0.01 |
| Q2FY23 | Capital allocation | 0 | 1 | 0.00 |
| Q2FY23 | Competition | 1 | 1 | 0.01 |
| Q2FY23 | Credit quality | 1 | 0 | 0.01 |
| Q2FY23 | Currency and macro | 2 | 2 | 0.01 |
| Q2FY23 | Demand and volumes | 7 | 3 | 0.04 |
| Q2FY23 | Deposits and liquidity | 3 | 1 | 0.02 |
| Q2FY23 | Distribution and persistency | 2 | 11 | 0.01 |
| Q2FY23 | Margins and costs | 8 | 21 | 0.05 |
| Q2FY23 | People and attrition | 2 | 1 | 0.01 |
| Q2FY23 | Pricing and realisation | 3 | 10 | 0.02 |
| Q2FY23 | Raw materials and input costs | 0 | 0 | 0.00 |
| Q2FY23 | Regulation and policy | 2 | 1 | 0.01 |
| Q2FY24 | AI and technology | 3 | 0 | 0.01 |
| Q2FY24 | Capex and capacity | 11 | 6 | 0.05 |
| Q2FY24 | Capital allocation | 0 | 0 | 0.00 |
| Q2FY24 | Competition | 1 | 0 | 0.00 |
| Q2FY24 | Credit quality | 1 | 0 | 0.00 |
| Q2FY24 | Currency and macro | 1 | 1 | 0.00 |
| Q2FY24 | Demand and volumes | 0 | 4 | 0.00 |
| Q2FY24 | Deposits and liquidity | 0 | 0 | 0.00 |
| Q2FY24 | Distribution and persistency | 34 | 23 | 0.14 |
| Q2FY24 | Margins and costs | 9 | 8 | 0.04 |
| Q2FY24 | People and attrition | 0 | 0 | 0.00 |
| Q2FY24 | Pricing and realisation | 17 | 12 | 0.07 |
| Q2FY24 | Raw materials and input costs | 0 | 0 | 0.00 |
| Q2FY24 | Regulation and policy | 6 | 3 | 0.02 |
| Q2FY26 | AI and technology | 1 | 0 | 0.01 |
| Q2FY26 | Capex and capacity | 2 | 4 | 0.01 |
| Q2FY26 | Capital allocation | 0 | 0 | 0.00 |
| Q2FY26 | Competition | 0 | 0 | 0.00 |
| Q2FY26 | Credit quality | 1 | 0 | 0.01 |
| Q2FY26 | Currency and macro | 1 | 0 | 0.01 |
| Q2FY26 | Demand and volumes | 0 | 0 | 0.00 |
| Q2FY26 | Deposits and liquidity | 0 | 0 | 0.00 |
| Q2FY26 | Distribution and persistency | 7 | 7 | 0.04 |
| Q2FY26 | Margins and costs | 16 | 13 | 0.09 |
| Q2FY26 | People and attrition | 0 | 1 | 0.00 |
| Q2FY26 | Pricing and realisation | 11 | 10 | 0.06 |
| Q2FY26 | Raw materials and input costs | 0 | 0 | 0.00 |
| Q2FY26 | Regulation and policy | 14 | 12 | 0.08 |
| Q3FY23 | AI and technology | 0 | 0 | 0.00 |
| Q3FY23 | Capex and capacity | 3 | 8 | 0.01 |
| Q3FY23 | Capital allocation | 1 | 3 | 0.00 |
| Q3FY23 | Competition | 0 | 1 | 0.00 |
| Q3FY23 | Credit quality | 1 | 0 | 0.00 |
| Q3FY23 | Currency and macro | 0 | 4 | 0.00 |
| Q3FY23 | Demand and volumes | 11 | 7 | 0.05 |
| Q3FY23 | Deposits and liquidity | 1 | 6 | 0.00 |
| Q3FY23 | Distribution and persistency | 13 | 26 | 0.06 |
| Q3FY23 | Margins and costs | 7 | 32 | 0.03 |
| Q3FY23 | People and attrition | 1 | 0 | 0.00 |
| Q3FY23 | Pricing and realisation | 6 | 13 | 0.03 |
| Q3FY23 | Raw materials and input costs | 0 | 0 | 0.00 |
| Q3FY23 | Regulation and policy | 5 | 3 | 0.02 |
| Q3FY26 | AI and technology | 1 | 0 | 0.01 |
| Q3FY26 | Capex and capacity | 5 | 1 | 0.03 |
| Q3FY26 | Capital allocation | 3 | 1 | 0.02 |
| Q3FY26 | Competition | 0 | 0 | 0.00 |
| Q3FY26 | Credit quality | 1 | 0 | 0.01 |
| Q3FY26 | Currency and macro | 0 | 1 | 0.00 |
| Q3FY26 | Demand and volumes | 3 | 1 | 0.02 |
| Q3FY26 | Deposits and liquidity | 1 | 1 | 0.01 |
| Q3FY26 | Distribution and persistency | 11 | 12 | 0.06 |
| Q3FY26 | Margins and costs | 19 | 14 | 0.10 |
| Q3FY26 | People and attrition | 0 | 0 | 0.00 |
| Q3FY26 | Pricing and realisation | 17 | 6 | 0.09 |
| Q3FY26 | Raw materials and input costs | 0 | 0 | 0.00 |
| Q3FY26 | Regulation and policy | 13 | 12 | 0.07 |
| Q4FY22 | AI and technology | 0 | 0 | 0.00 |
| Q4FY22 | Capex and capacity | 0 | 2 | 0.00 |
| Q4FY22 | Capital allocation | 2 | 2 | 0.02 |
| Q4FY22 | Competition | 0 | 0 | 0.00 |
| Q4FY22 | Credit quality | 3 | 1 | 0.03 |
| Q4FY22 | Currency and macro | 3 | 1 | 0.03 |
| Q4FY22 | Demand and volumes | 2 | 4 | 0.02 |
| Q4FY22 | Deposits and liquidity | 0 | 0 | 0.00 |
Guidance items
| quarter | metric | direction | sentence | page |
|---|---|---|---|---|
| Q4FY22 | other | MAINTAINED | Just see others like we always maintain our position that when you set our assumption, our assumption is set in line with that in long-term assumption should be | 9 |
| Q4FY22 | other | nan | Credit life for the quarter we did almost 540 Crores and for the whole year we have done approximately 1700 | 13 |
| Q4FY22 | other | nan | If you see historically our operating ROEV in the range of 20% so we will continue to look into that and as we mentioned in the earlier call as well a different | 17 |
| Q4FY22 | premium / VNB | nan | No, it is a part of see what we said was that there are a lot of factors including a little bit of price change not directly contributed entirely by that and go | 17 |
| Q4FY22 | margin | nan | So going forward you expect because the reason that we are going to sell more and more non-par, par because there is a demand and we introduce new product we ar | 17 |
| Q4FY22 | other | nan | We have looked in our current financial tax position we also projected out this and based on that we do the modeling there are other elements because as I menti | 20 |
| Q1FY23 | other | nan | It offers a comprehensive range of annuity with an option of deferred annuity pay-out. | 3 |
| Q1FY23 | other | nan | Considering the adverse impact of COVID-19 in Q1, FY ’22, followed by a strong performance in subsequent quarters of FY ’22, we expect a steady growth in our pe | 3 |
| Q1FY23 | premium / VNB | MAINTAINED | With our growth targets and product mix shift, we expect to maintain the healthy VNB growth rates. | 3 |
| Q1FY23 | other | nan | I think going forward also there will be good traction for this. | 5 |
| Q1FY23 | other | nan | And therefore I'm sure that there will be more non-par Platina being sold going forward. | 5 |
| Q1FY23 | other | nan | I think it's a very prudent way of doing things going forward. | 6 |
| Q1FY23 | other | nan | In any case, I think one of the things that every insurance company will do going forward, and I think every company in the world is going to do is going to kee | 6 |
| Q1FY23 | other | nan | And going forward, I think this will also grow slightly more, at least. | 7 |
| Q1FY23 | other | nan | I mean, looking at the trends, I think that it should be around this level, say, 25% to 30%. | 8 |
| Q1FY23 | other | nan | Going forward, I don't know how much that will sustain because markets have not been very good. | 8 |
| Q1FY23 | other | nan | I really cannot predict the pattern, but I suppose there will be some more growth in this product going forward. | 9 |
| Q1FY23 | other | nan | So these things will be determined by the demand, what the customer needs and what we can sustainably do going forward. | 10 |
| Q1FY23 | other | nan | So till there is visibility, let's say, in the next year, two years or whatever, at any given point of time, the kind of visibility that we have, we would be c | 10 |
| Q1FY23 | other | nan | Sir, what we are saying, Adarsh, is for the future outlook, for Year 3 onwards, whatever are the expected premium inflows, majority of the inflows are hedged. | 11 |
| Q1FY23 | margin | nan | And margin is one of those factors -- so margin, I will not be stuck on a particular number for the margin because going forward, if I sell more of some of the | 11 |
| Q1FY23 | other | nan | But then the value that I deliver will continue to grow because we are looking at good growth going forward, upwards of 25% growth in premiums. | 11 |
| Q1FY23 | other | nan | So going forward also, we’ll keep a look at the interest rate movement. | 12 |
| Q1FY23 | other | nan | I think ULIP should be somewhere around 55% around. | 13 |
| Q1FY23 | other | nan | So I don't think we'll continue to SBI Life Insurance Company Limited July 28, 2022 Page 13 of 13 grow at 87% of something in some of the things, but our target | 13 |
| Q1FY23 | other | nan | So 25% is what we will aim to have. | 13 |
| Q1FY23 | other | nan | That is what we are targeting, yes. | 14 |
| Q1FY23 | other | nan | For the full year. | 14 |
| Q1FY23 | other | nan | And going forward in this year, if we have a COVID free year, and if there are no other disruptions, which I essentially hope there won't be, I think we'll be a | 14 |
| Q2FY23 | other | nan | You will also recollect that I just shared about a new product that we have launched Retire Smart Plus and that’s also ULIP linked product and that is also expe | 7 |
| Q2FY23 | other | nan | Yes, so see outlook on interest rates it’s a, basically a thing that we keep calibrating. | 11 |
| Q2FY23 | other | nan | No, sorry I was talk about SBI employees, typically there should be one per branch at least that is the minimum that we need. | 13 |
| Q2FY23 | other | nan | So, that pent up demand spilled over into part of it, of course everything doesn’t get fulfilled because people forget, people don’t buy, people don’t fulfill, | 15 |
| Q2FY23 | other | nan | So, going forward every quarter three and quarter four has been stronger than quarter two, always in the past for SBI Life. | 15 |
| Q2FY23 | other | nan | So, thank you very much once again, wish you all a very Happy Diwali and hope that going forward we all keep ourselves insured and safe. | 23 |
| Q3FY23 | other | nan | Going forward, I think non-par guaranteed will continue to see a good traction. | 8 |
| Q3FY23 | other | nan | But going forward, we would track the number of people that we cover the NOPs, plus the average ticket sizes, which are increasing and plus the number of branch | 11 |
| Q3FY23 | other | nan | So, we have given you color about the products that we are expecting to sell and all that. | 13 |
| Q3FY23 | other | nan | So really speaking, whatever we see in the agency, we'll probably see the growth coming -- heavier growth coming forward -- going forward. | 13 |
| Q3FY23 | other | nan | But then having said that, we will have to take a view looking at our business model, which is right now and then to see whether we want to have a totally diffe | 21 |
| Q4FY23 | other | nan | The growth outlook, if you ask me, we expect, what we were expecting last year. | 6 |
| Q4FY23 | other | nan | And therefore, there were some, some of the things that did not sell as much as the others, the focus definitely is around what is happening around people's min | 8 |
| Q4FY23 | other | nan | But we feel that going forward protection being one of the areas which we feel is a very good product for the customer. | 8 |
| Q4FY23 | other | nan | So, therefore, protection focus will be there going forward. | 8 |
| Q4FY23 | other | nan | So, we expect margins to be around these levels. | 10 |
| Q4FY23 | other | nan | And based on that, we feel that going forward, we will be able to achieve this 20%-25% that we are looking for. | 16 |
| Q4FY23 | other | nan | So one of the things that I always say is that the whole idea of doing business is that it should be beneficial to the customer and all the stakeholders. | 18 |
| Q4FY23 | other | nan | Other banks are a smaller base, but they are likely to grow very well because the customers definitely need all the products that we have. | 18 |
| Q2FY24 | revenue growth | nan | Going forward, though we welcome the increase in number in the ULIP sales but we are also working internally to increase the share of non-par and protection pla | 8 |
| Q2FY24 | other | nan | And the way SBI channel has been poised to do now, we expect that not only as MD said about the product mix, but also the growth will be in tandem as we have gu | 9 |
| Q2FY24 | other | nan | And we will continue to monitor that and continue more penetration will be there for our Tier 2, Tier 3 cities going forward as far our agency is concerned. | 9 |
| Q2FY24 | other | nan | So, we will respond to the situation as the things pan out going forward. | 11 |
| Q2FY24 | other | nan | And we expect that they will do better in this next six months because the composition, which we are expecting from them is better non-ULIP as compared to | 14 |
| Q2FY24 | other | nan | So, this will take up the commission ratio further going forward. | 15 |
| Q2FY24 | other | nan | And we expect that we will achieve whatever targets we have fixed for ourselves in the FY '24 in the individual protection. | 15 |
| Q2FY24 | other | nan | And parallelly, what we are also focusing for agency channel is that the branch activation and the branches of SBI Life should be there across regions so that t | 15 |
| Q2FY24 | other | nan | At this moment, they're growing at 20% plus on YTD, H1'24, but it will definitely grow for the bigger numbers in the going forward. | 15 |
| Q2FY24 | margin | nan | As far as margin projections are concerned, we stand by the guidance that we had provided about it being in the range of 28% to 30% and we continue to stand by | 16 |
| nan | other | nan | Jhingran already explained that the focus remains strongly both on agency and banca channel and we don't see any meaningful difference in the expected growth ra | 9 |
| nan | other | nan | But overall, our growth trend in agency is as per our earlier guidance. | 10 |
| nan | other | nan | So, it will be difficult to comment earlier, further too for longer perspective, but currently three to six months, this is the target we are looking into. | 13 |
| nan | margin | nan | And we stick to our guidance of, say, around 28% of VoNB margin in the coming this quarter also. | 18 |
| nan | other | nan | So next year, we are growing at around 15%, and next year is still a quarter away. | 18 |
| nan | other | nan | And in addition to that, the regulators vision, the government's target for increasing insurance penetration, I don't see a very perceptible or meaningful negat | 19 |
| nan | premium / VNB | nan | Jhingran said, it will be in the range the APE basis is around 18%. | 20 |
| nan | other | nan | So overall, we expect that next FY'25 will be a similar kind of growth for | 20 |
| nan | other | nan | So that, particularly, we expect good numbers in the current quarter. | 21 |
| nan | other | nan | So, this is our focus area for the company on this particular FY'24 and going forward also into FY'25. | 23 |
| nan | other | nan | Let me give you some key highlights for the financial year 2024. | 3 |
| nan | margin | nan | And we expect this is going to further enhance our margin on that level. | 7 |
| nan | other | nan | Going forward, while we continue to offer all kind of products to all segments of customers, and it all depends on the customer's choice. | 8 |
| nan | volume | nan | So in terms of volume growth, we expect annuity to be a long-term growth story in India. | 9 |
| nan | other | nan | Having said that, we also say that we don't play the commission game to increase the top line and we will going forward also stick to that. | 9 |
| nan | other | nan | And we expect that we will try to improve upon those numbers, but GTI as you know this is based on some specific transactions. | 11 |
| nan | other | nan | As Abhijit said, we have already launched two products during this quarter and we expect that the individual protection will grow in a better proposition than t | 11 |
| nan | other | nan | So next year also, we will have some parameter-based numbers. | 14 |
| nan | other | nan | But we expect that this will correct in the coming years because as already mentioned, we are focusing on the product mix, which will go towards non-ULIP, so th | 15 |
| nan | other | nan | This year, it is with you, next year might be gone to other thing and particularly as a company we try to acquire or renew the business from a profitable type o | 17 |
| nan | other | nan | In addition to that with these new protection products also, on individual basis as well as on the group term basis, we will be targeting the education loan cus | 8 |
| nan | other | nan | So, we stand by the guidance that we gave during the end of the last financial year results. | 10 |
| nan | revenue growth | nan | Our top line growth will be in higher teens to 20% and regarding the margin also, we will be in the same range of plus/ minus 28% kind of. | 10 |
| nan | other | nan | So, we expect that annuity will also pick up overall for the financial year in the next few quarters. | 10 |
| nan | other | LOWERED | Although it is in the lower double digit, but the growth is back and second and 3rd Quarter usually are stronger for Banca and we expect that we will be back on | 11 |
| nan | other | nan | And we will try to enhance our penetration more on these regions to take the target which we have planned for the | 11 |
| nan | other | nan | So, net it is there is what we expect is the bank partners which have shown subdued growth will come back in Quarter 2, Quarter 3, Quarter 4 and we will continu | 13 |
| nan | other | nan | So as and when the composite licensing is introduced, the parent will take a call depending on the market condition and we will be guided by the parent bank in | 14 |
| nan | other | nan | So going forward we will continue to focus on the agency channel. | 14 |
| nan | other | nan | And we expect that the more and more offering we’ll have in the rider side, it will give opportunity to customer to fulfill their need and hence there will be a | 15 |
| nan | other | nan | The digital product that we are going to offer on the Yono channel, we have very high hopes because it is a much- simplified product with a lesser premium and w | 15 |
| nan | revenue growth | nan | We are very sure, very sanguine that the kind of 18%-20% growth guidance that we are giving we will be able to stick to that. | 15 |
| nan | other | nan | So, we expect that the credit life will grow better than what we have seen in the first quarter. | 16 |
| nan | other | nan | Second as far as the GTI businesses are concerned, it is a business which is getting negotiated during the course of the year and we expect that some transactio | 16 |
| nan | other | nan | If it is a positive VoNB definitely we will be going forward for the larger deals in the coming quarter. | 16 |
| nan | other | nan | So overall we expect that the group from the credit life as well as from the group annuity will go up in the coming quarters. | 16 |
| nan | other | nan | But our rates are quite competitive and we expect that this will bounce back in the coming quarters to come. | 16 |
| nan | other | nan | Further as we continue to innovate and customize our offerings to meet evolving needs and demands, we anticipate growth in the upcoming period. | 5 |
| nan | other | nan | In the recent past, we have launched two new products in the protection segment which offer higher margins and one of these products is a protection product for | 9 |
| nan | margin | nan | So, going forward we expect that the protection numbers will be better, and they will affect us, they will positively affect our margin also. | 9 |
| nan | other | nan | Okay, so since you talked about the protection guidance we gave it last time, unfortunately the products that I referred to in the last call were a bit delayed | 11 |
| nan | other | nan | So, that is what is making us give the guidance of higher protection percentage in the third quarter of the year. | 11 |
| nan | other | nan | Maybe next quarter we can talk about the numbers and everything | 13 |
| nan | other | nan | What I am saying is that, going forward the growth from this channel will be in addition to whatever is being sold from the branches and the CIS. | 14 |
| nan | other | nan | But we are investing in that channel and we expect good numbers going forward. | 14 |
| nan | margin | MAINTAINED | There is always an upside on the side and that we long term guidance we are always saying that our aim is to maintain the margin of 28%. | 15 |
| nan | premium / VNB | nan | So, if APE growth is happening around 15% to 16%, you are expecting 15% to 17% target, I think VNB growth will be in range of 12% to 15% kind of things. | 15 |
| nan | other | nan | I already explained that we are trying to develop this digital channel where the SBI customer is able to initiate the insurance purchase journey on the YONO pla | 15 |
| nan | other | nan | So, it will be a kind of a digital channel within the SBI channel, which we expect that both will flourish and we expect that the growth is, today it is a 7% gr | 16 |
| nan | other | nan | So, we expect similar kinds of numbers in this year also. | 16 |
| nan | other | nan | So, on the agency, I think MD already mentioned that we have grown at 33% in first half, and we expect similar kind of growth, 30% kind of growth for the second | 17 |
| nan | other | nan | On the annuity side, you know we had had some small degrowth in the current quarter, but I think there will be we don’t expect that to be the guidance for full | 18 |
| nan | other | nan | So, as Abhijit said, our non-PAR protection and PAR will continue to be part of 40 and 60 will be in the | 18 |
| nan | other | nan | So, this data analytics will help in identifying the customers in more precise way in the future and our CIF and our branch managers will be in a better positio | 21 |
| nan | other | nan | So, going forward, I will stick that the ability to grow at 15% remains intact. | 21 |
| nan | other | nan | YONO as a channel also the business is attributed to the branch to which the customer belongs to and as far as the target is concerned bank employee or a bank m | 21 |
| nan | other | MAINTAINED | And that is what will maintain going forward also. | 22 |
| nan | other | nan | But this year we are targeting in a different manner because a lot of products have been launched and we want to capitalize particularly on protection and non-P | 22 |
| nan | other | nan | We plan to change that cycle for SBI Life, and we are optimistic that this will help in this year to see that result going forward. | 22 |
| nan | margin | nan | And we internally are also expecting that margin will be much more than what we are given guidance. | 22 |
| nan | other | nan | So, the role of CIFs in the branch staff will continue to maybe explain the products and guide the customer to initiate the journey on the YONO platform also. | 23 |
| nan | other | LOWERED | So, credit life is flattish with the penetration levels in the bank are slightly lower than what we were expecting but we expect the penetration levels to come | 24 |
| nan | other | nan | So, we expect 9%-10% kind of growth in credit life for the full year. | 24 |
| nan | other | LOWERED | So, there the underwriting process for the higher ticket size will be lower and we expect that the same will help in improving the coverage ratio. | 24 |
| nan | other | nan | I told you this product was just launched towards the end of the quarter, September, so the numbers are negligible, but we expect this product to catch up and p | 25 |
| nan | other | nan | We expect this product will have a financial different segment. | 25 |
| nan | other | LOWERED | We expect this will be more attractive and it will help us to not only increase our protection share but also fulfill the underinsured population because a lot | 25 |
| nan | other | nan | And the VONB will be in the range of around the current rate, which is going at around single digit or will be around 10%. | 13 |
| nan | other | nan | And which we expect that will continue for the fourth quarter. | 14 |
| nan | other | nan | So, we have been investing a lot as far as agency is concerned, and we expect that it will continue to give us not only the growth but also the higher activity. | 14 |
| nan | other | nan | But if we are comfortable that it will be in the range of 60-40 in this year. | 15 |
| nan | other | nan | But we expect that this overall protection will continue to be good for us in the next 2 to 3 years. | 15 |
| nan | other | nan | And we expect that pure protection will definitely grow. | 15 |
| nan | margin | nan | It will help us to enhance the margin going forward. | 16 |
| nan | margin | MAINTAINED | So, over the period with a longer-term basis, you see the margin that we mentioned that it will remain in a range of 26% to 29% with objective to maintain minim | 16 |
| nan | premium / VNB | nan | So as we have already mentioned previously, Sanketh, the individual APE will be in this range of 14% and total APE will be in this range around 10% to 11%. | 17 |
| nan | other | nan | No, I'll give you. 17% growth should be there sequentially. | 20 |
| Q4FY25 | other | nan | Talking of overall growth, we delivered on individual IRP basis, 12% growth and going forward, we expect that we will continue to grow at around 13% to 14%, whi | 7 |
| Q4FY25 | other | nan | Going forward, what we are looking for is a 65%-35%kind of product mix. | 9 |
| Q4FY25 | margin | nan | So, in our last analyst call, we had given a guidance of around 28% margin. | 11 |
| Q4FY25 | margin | MAINTAINED | So barring spikes or dips from quarter-to- quarter, we expect to maintain the margin of around 27%-28% for the full year. | 11 |
| Q4FY25 | margin | nan | But broadly, I think MD has guided what is the broad margin. | 11 |
| Q4FY25 | other | nan | And 65%-35% kind of product mix broadly is also target for agency. | 11 |
| Q4FY25 | premium / VNB | nan | Credit Life APE is around INR250 crores for the financial year FY '25. | 12 |
| Q4FY25 | premium / VNB | nan | See, the first one is about the growth that is related to individual APE and that we are expected to grow between around 14%. | 12 |
| Q4FY25 | other | nan | And we don't see much dent on this going forward. | 15 |
| Q4FY25 | other | nan | See, as far as agency growth is concerned, we are very, very clear about the trajectory which we are focusing for SBI Life as far as our next 2 to 3 years are c | 16 |
| Q4FY25 | other | nan | And as far as the expense allocation methodology, which we have changed, this is basically we do once in 3 years to 5 years as far as our expense methodology as | 18 |
| Q1FY26 | other | nan | So now these branches, which we opened last year and this year also, we are opening, along with these new additional agents, we are sure that going forward, we | 9 |
| Q1FY26 | other | nan | But going forward, we are sure that our numbers will also come back along with the product mix that we are getting in this quarter. | 9 |
| Q1FY26 | other | nan | And I'm sure that in the remaining 3 quarters, we will be able to align the banca product mix also as per our expectation and as per our guidance set for the ye | 11 |
| Q1FY26 | other | MAINTAINED | I mean our guidance and our monitoring of our field forces, our frontline managers, everybody is aligned, and we are sure that we will be able to maintain this | 11 |
Claims reconciled to filings
| Quarter | Metric | Claimed | Kind | Anchor | Anchor value | Verdict | Source |
|---|---|---|---|---|---|---|---|
| Q4FY22 | profit after tax | 15.1 billion | money | nan | nan | NOT_YET_FILED_IN_POC | Date_20220505_SBI Life Insuran p3 |
| Q4FY22 | profit after tax | 15.1 billion | money | nan | nan | NOT_YET_FILED_IN_POC | Date_20220505_SBI Life Insuran p5 |
| Q4FY22 | operating profit / EBITDA | 68.9 billion | money | nan | nan | NOT_YET_FILED_IN_POC | Date_20220505_SBI Life Insuran p5 |
| Q1FY23 | profit after tax | 2.6 billion | money | nan | nan | NOT_YET_FILED_IN_POC | Date_20220803_SBI Life Insuran p3 |
| Q1FY23 | profit after tax | 2.6 billion | money | nan | nan | NOT_YET_FILED_IN_POC | Date_20220803_SBI Life Insuran p5 |
| Q2FY23 | profit after tax | 6.4 billion | money | nan | nan | NOT_YET_FILED_IN_POC | Date_20221101_SBI Life Insuran p3 |
| Q2FY23 | profit after tax | 6.4 billion | money | nan | nan | NOT_YET_FILED_IN_POC | Date_20221101_SBI Life Insuran p5 |
| Q3FY23 | profit after tax | 9.4 billion | money | nan | nan | NOT_YET_FILED_IN_POC | Date_20230127_SBI Life Insuran p3 |
| Q3FY23 | profit after tax | 9.4 billion | money | nan | nan | NOT_YET_FILED_IN_POC | Date_20230127_SBI Life Insuran p5 |
| Q2FY24 | profit after tax | 7.6 billion | money | nan | nan | NOT_YET_FILED_IN_POC | Date_20231031_SBI Life Insuran p3 |
| Q2FY24 | profit after tax | 7.6 billion | money | nan | nan | NOT_YET_FILED_IN_POC | Date_20231031_SBI Life Insuran p5 |
| Q2FY24 | operating profit / EBITDA | 44.4 billion | money | nan | nan | NOT_YET_FILED_IN_POC | Date_20231031_SBI Life Insuran p5 |
| nan | profit after tax | 10.8 billion | money | nan | nan | NO_QUARTER_IN_FILENAME | Date_20240201_SBI Life Insuran p3 |
| nan | profit after tax | 10.8 billion | money | nan | nan | NO_QUARTER_IN_FILENAME | Date_20240201_SBI Life Insuran p5 |
| nan | profit after tax | 18.9 billion | money | nan | nan | NO_QUARTER_IN_FILENAME | Date_20240503_SBI Life Insuran p3 |
| nan | profit after tax | 18.9 billion | money | nan | nan | NO_QUARTER_IN_FILENAME | Date_20240503_SBI Life Insuran p6 |
| nan | operating profit / EBITDA | 100.5 billion | money | nan | nan | NO_QUARTER_IN_FILENAME | Date_20240503_SBI Life Insuran p6 |
| Q1FY25 | revenue growth | 20 % | ratio | nan | nan | NOT_YET_FILED_IN_POC | Date_20240731_SBI Life Insuran p10 |
| Q3FY25 | profit after tax | 16 billion | money | nan | nan | NOT_YET_FILED_IN_POC | Date_20250124_SBI Life Insuran p4 |
| Q3FY25 | profit after tax | 16 billion | money | nan | nan | NOT_YET_FILED_IN_POC | Date_20250124_SBI Life Insuran p6 |
| Q4FY25 | profit after tax | 24.13 billion | money | PROFIT_AFTER_TAX | 8,135,064,000.00 | DIVERGES | Date_20250502_SBI Life Insuran p4 |
| Q4FY25 | profit after tax | 24.1 billion | money | PROFIT_AFTER_TAX | 8,135,064,000.00 | DIVERGES | Date_20250502_SBI Life Insuran p6 |
| Q4FY25 | operating profit / EBITDA | 117.8 billion | money | nan | nan | NO_ANCHOR | Date_20250502_SBI Life Insuran p6 |
| Q1FY26 | profit after tax | 5.94 billion | money | PROFIT_AFTER_TAX | 5,943,716,000.00 | AGREES | Date_20250731_SBI Life Insuran p7 |
| Q2FY26 | profit after tax | 10.89 billion | money | PROFIT_AFTER_TAX | 4,945,908,000.00 | DIFFERENT_BASIS_LIKELY | Date_20251031_SBI Life Insuran p4 |
| Q2FY26 | profit after tax | 10.89 billion | money | PROFIT_AFTER_TAX | 4,945,908,000.00 | DIFFERENT_BASIS_LIKELY | Date_20251031_SBI Life Insuran p6 |
| Q3FY26 | profit after tax | 16.7 billion | money | PROFIT_AFTER_TAX | 5,767,419,000.00 | DIVERGES | Date_20260203_SBI Life Insuran p6 |
| Q4FY26 | profit after tax | 24.7 billion | money | PROFIT_AFTER_TAX | 8,046,397,000.00 | DIVERGES | Date_20260428_SBI Life Insuran p4 |
| Q4FY26 | profit after tax | 24.7 billion | money | PROFIT_AFTER_TAX | 8,046,397,000.00 | DIVERGES | Date_20260428_SBI Life Insuran p6 |
| Q4FY26 | profit after tax | 31.2 billion | money | PROFIT_AFTER_TAX | 8,046,397,000.00 | ADJUSTED_MEASURE_NOT_STATUTORY | Date_20260428_SBI Life Insuran p6 |
| Q4FY26 | operating profit / EBITDA | 138.6 billion | money | nan | nan | NO_ANCHOR | Date_20260428_SBI Life Insuran p6 |
| Q1FY27 | profit after tax | 7.2 billion | money | PROFIT_AFTER_TAX | 7,249,331,000.00 | AGREES | Date_20260730_SBI Life Insuran p4 |
| Q1FY27 | profit after tax | 7.2 billion | money | PROFIT_AFTER_TAX | 7,249,331,000.00 | AGREES | Date_20260730_SBI Life Insuran p5 |
SBILIFE
files the life-insurance revenue and shareholders’ accounts. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | insurance life |
| Scope served | standalone |
| Panels on this page | 5 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 1,755.00 |
| 52-week range | 1654.1 – 2109.6 |
| Return 1M | 0.0% |
| Return 3M | 0.58% |
| Return 1Y | -3.42% |
| Return 3Y | 35.61% |
| Return 5Y | 43.61% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Net premium | 1,347.00 |
| Income from investments | 1,071.00 |
| Income from investments, net | 25,977.00 |
| Commission, net | 930.00 |
| Operating expenses related to insurance business | 1,635.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.55 | -0.00 |
| institutions foreign | 0.21 | -0.01 |
| institutions domestic | 0.20 | 0.01 |
| mutual funds | 0.16 | 0.01 |
| public | 0.45 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| TRANSCRIPT | 2026-06-30 | 17 |
Financial statements
Filed results, standalone, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Cash flow, as filed
| Line | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|
| Net cash from operating activities | 25,547.00 | 14,578.00 | 34,523.00 |
| Net cash from investing activities | -21,789.00 | -15,700.00 | -35,318.00 |
| Net cash from financing activities | -215.00 | 40.00 | -179.00 |
| Purchase of property, plant and equipment | 106.00 | 93.00 | 185.00 |
| Net increase in cash | 3,543.00 | -1,082.00 | -974.00 |
| con:CFO.BEFORE_TAX | 26,543.00 | 15,021.00 | 35,542.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 996.00 | 443.00 | 1,020.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 236,311.00 | 143,649.00 | 291,854.00 |
| con:INVESTMENTS_SOLD | 197,553.00 | 121,564.00 | 244,163.00 |
| con:PPE_DISPOSALS | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 |
Revenue account (policyholders), as filed
| Line | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|
| Net premium | 6,559.00 | 1,244.00 | 1,859.00 | 2,196.00 | 7,528.00 | 1,347.00 |
| Income from investments | 4,468.00 | 1,161.00 | 1,194.00 | 1,243.00 | 4,695.00 | 1,071.00 |
| Income from investments, net | 31,714.00 | 21,525.00 | -2,055.00 | 15,531.00 | 11,062.00 | 25,977.00 |
| Commission, net | 3,739.00 | 786.00 | 1,240.00 | 1,610.00 | 4,496.00 | 930.00 |
| Operating expenses related to insurance business | 4,491.00 | 1,129.00 | 1,519.00 | 1,909.00 | 6,225.00 | 1,635.00 |
Profit and loss account (shareholders), as filed
| Line | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|
| Income in the shareholders' account | 1,116.00 | 293.00 | 322.00 | 356.00 | 1,297.00 | 282.00 |
| Shareholders' other income | 1.00 | — | — | — | — | 0.00 |
| Transfer from the policyholders' account | 2,740.00 | 322.00 | 206.00 | 269.00 | 3,160.00 | 458.00 |
| con:EXTRAORDINARY_ITEMS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit carried to the balance sheet | 15,631.00 | 16,225.00 | 16,720.00 | 17,296.00 | 17,830.00 | 18,555.00 |
| Final dividend | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Earnings per share, basic | 24.07 | 5.93 | 4.93 | 5.75 | 24.62 | 7.22 |
| Total income | 117,119.00 | 38,696.00 | 22,809.00 | 45,803.00 | 112,966.00 | 46,091.00 |
| Other income | 17.00 | 3.00 | 3.00 | 4.00 | 20.00 | 3.00 |
| Total expenses | 114,124.00 | 38,228.00 | 22,609.00 | 45,376.00 | 109,677.00 | 45,551.00 |
| con:OTHER_OPERATING_EXPENSES | 1,565.00 | 376.00 | 649.00 | 845.00 | 2,736.00 | 782.00 |
| con:INS.PROVISIONS_DOUBTFUL | 1.00 | 0.00 | 0.00 | 0.00 | 1.00 | 0.00 |
Funds and assets, as filed
| Line | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|
| Other assets net of current liabilities | 3,456.00 | 3,076.00 | 2,338.00 | 970.00 | 5,686.00 | 1,892.00 |
| Total assets | 450,923.00 | 478,182.00 | 483,065.00 | 511,928.00 | 492,053.00 | 526,046.00 |
| Investments | 447,467.00 | 475,105.00 | 480,726.00 | 510,958.00 | 486,367.00 | 524,154.00 |
| Reserves and surplus | 15,791.00 | — | 16,921.00 | — | 18,083.00 | — |
| Borrowings | 0.00 | — | 0.00 | — | 0.00 | — |
| con:LOANS | 482.00 | — | 548.00 | — | 605.00 | — |
| Property, plant and equipment | 590.00 | — | 632.00 | — | 688.00 | — |
| Current assets | 8,557.00 | — | 8,035.00 | — | 12,386.00 | — |
| Current liabilities | 5,791.00 | — | 6,459.00 | — | 7,508.00 | — |
| con:PROVISIONS | 381.00 | — | 417.00 | — | 484.00 | — |
Solvency and underwriting ratios, as filed
| Line | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|
| Solvency ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Expenses of management ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INS.NPA_GROSS_NONLINKED_PAR | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INS.NPA_NET_LINKED_PAR | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 55.45 | 55.45 | 55.44 | 55.43 | 55.42 | 55.41 | 55.39 | 55.38 | 55.38 | 0.55 | 0.55 | 0.55 | 0.55 | 0.55 |
| Domestic institutions | 15.08 | 14.15 | 14.28 | 14.63 | 15.41 | 15.89 | 15.32 | 17.92 | 18.67 | 0.18 | 0.19 | 0.19 | 0.19 | 0.20 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 0.15 | 0.15 | 0.15 | 0.15 | 0.16 |
| Insurance companies | 2.66 | 2.20 | 1.97 | 1.77 | 1.68 | 1.73 | 1.67 | 1.55 | 1.94 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 |
| Foreign institutions | 25.13 | 26.22 | 26.18 | 25.92 | 25.16 | 24.71 | 25.19 | 22.48 | 21.88 | 0.22 | 0.22 | 0.22 | 0.22 | 0.21 |
| Government | — | — | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Public | 44.55 | 44.55 | 44.56 | 44.57 | 44.58 | 44.59 | 44.61 | 44.62 | 44.62 | 0.45 | 0.45 | 0.45 | 0.45 | 0.45 |
| Non-institutional | 4.33 | 4.18 | 4.10 | 4.02 | 4.01 | 3.99 | 4.10 | 4.22 | 4.06 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 |
| Shares outstanding | 1000894759 | 1000965645 | 1001090309 | 1001240203 | 1001465465 | 1001576855 | 1001923954 | 1002089000 | 1002135083 | 1002351320 | 1002568002 | 1002829838 | 1003092121 | 1003240534 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| SBI DFHI Ltd. | Fellow Subsidiary | Any other transaction, Sale of goods or services | 21,577,651,000.00 | 5 |
| State Bank of India | Holding Company | Any other transaction, Interest received, Investment | 15,326,802,000.00 | 23 |
| SBI Capital Markets Ltd. | Fellow Subsidiary | Any other transaction, Sale of goods or services | 9,713,340,000.00 | 3 |
| YES Bank Ltd. | Promotor Group (Others - Associate | Any other transaction, Interest received | 9,324,312,000.00 | 9 |
| Mr. Sangramjit Sarangi | Key Management Personnel | Any other transaction, Remuneration, Sale of goods o | 1,649,923,000.00 | 3 |
| Chhattisgarh Rajya Gramin Bank | Promotor Group (RRBs - Associates | Any other transaction, Sale of goods or services | 764,308,000.00 | 5 |
| SBI Life Insurance Company Limited Employee PF Trust | Significant Influence/Controlling | Any other transaction | 749,568,000.00 | 1 |
| SBI General Insurance Co. Ltd. | Fellow Subsidiary | Any other transaction, Sale of goods or services | 422,159,000.00 | 7 |
| SBI Life Insurance Company Limited Employees Gratuity Fund | Significant Influence/Controlling | Any other transaction, Sale of goods or services | 394,830,000.00 | 4 |
| SBI Cards & Payment Services Ltd. | Fellow Subsidiary | Any other transaction, Interest received, Investment | 268,388,000.00 | 4 |
| Ellaquai Dehati Bank | Promotor Group (RRBs - Associates | Any other transaction, Sale of goods or services | 72,840,000.00 | 5 |
| Andhra Pradesh Grameena Vikas Bank | Promotor Group (RRBs - Associates | Any other transaction | 63,740,000.00 | 3 |
| Rajasthan Marudhara Gramin Bank | Promotor Group (RRBs - Associates | Any other transaction, Sale of goods or services | 53,404,000.00 | 6 |
| Meghalaya Rural Bank | Promotor Group (RRBs - Associates | Any other transaction, Sale of goods or services | 49,236,000.00 | 6 |
| Telangana Grameena Bank | Promotor Group (RRBs - Associates | Any other transaction, Sale of goods or services | 48,586,000.00 | 5 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-07-30 | Q1FY27 | present. | Read the call |
| 2026-04-28 | Q4FY26 | Gaurav:, Samant Singh: | Read the call |
| 2026-02-03 | Q3FY26 | Read the call | |
| 2025-10-31 | Q2FY26 | Read the call | |
| 2025-07-31 | Q1FY26 | Read the call | |
| 2025-05-02 | Q4FY25 | Read the call | |
| 2025-01-24 | FYFY24 | Read the call | |
| 2024-10-30 | FYFY24 | numbers in coming quarters. | Read the call |
| 2024-07-31 | FYFY24 | Read the call | |
| 2024-05-03 | FYFY23 | Read the call | |
| 2024-02-01 | FYFY23 | Read the call | |
| 2023-10-31 | Q2FY24 | Read the call | |
| 2023-05-03 | Q4FY23 | Relations. | Read the call |
| 2023-01-27 | Q3FY23 | recorded. | Read the call |
| 2022-11-01 | Q2FY23 | Read the call | |
| 2022-08-03 | Q1FY23 | Read the call | |
| 2022-05-05 | Q4FY22 | Read the call |
What they said about it, quarter by quarter
| Topic | Q2FY24 | Q2FY26 | Q3FY23 | Q3FY26 | Q4FY22 | Q4FY23 | Q4FY25 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capital allocation | — | — | What we are hearing that deposit acquisition is a focus for few of the banks because we have SBI support, its fine. | — | My second question is that if one has to again very as a broad thumb rule assume that the accounting policy was such that one could amortize the custo… | In the month of March, the company had declared and paid an interim dividend of `2.5 per share. | — | — |
| Debt and cash | — | — | What are the future cash flows based on persistency what you expect? | — | — | We should worry more about the ALM aspects and cash flow making perspectives. | — | — |
| Demand | And how the growth has been shaping up and if you're planning on adding a few more banca tie-ups that may be there in the pipeline? | — | So, I just wanted to understand the sense of demand that you're seeing on ground, be it protection because some of your peers have indicated that ther… | So, what's happening there, I mean, that is kind of a hampering the demand of non-par in the market, I mean, your experience. | So that has been a very successful product and we see that in March there was a huge uptake of that and going forward I think there will be a huge dem… | But if you ask me, the outlook remains similar because the demand is there. | And lastly, the drop in ULIP this quarter that we are seeing, this degrowth, is this a conscious strategy or due to the lack of demand? | — |
| Guidance | So sir, can you help us understand what is the outlook for second half and which will be the key products that could drive? | Secondly, given this focus, should we expect potentially the milder near-term earnings growth potential as a greater portion of the profit may be defe… | With our growth targets and the product mix shift, we expect to maintain a healthy VNB growth rate. | First, in terms of non- par, so if you can just highlight how we see the traction in our new product launch smart platina advantage, and do we expect … | So just wanted to get your thoughts on how will the product mix look like in the next couple of years and what are the products we might look to guide… | With our growth target and the product mix shift, we expect to maintain the healthy and sustainable VoNB growth rates. | So if I were to look at the future guidance of 25% growth at agency, how would that break up between new agent additions versus productivity improveme… | — |
| Margin | Or are there other factors, say maybe some cost element that is there or some kind of assumption changes which is helping us to sustain the margin pro… | So, the 20-basis point margin impact is for last 9 days or 11% of first half individual business. | And VNB margin is at 29.6%, with an improvement of 478 bps over 24.8% in December '21. | First on the VNB margin, I think in the first half call you had mentioned that ceteris paribus the impact of GST is about 175 basis points. | As mentioned in last earnings call we have aligned our Value of New Business, VoNB margin and Indian Embedded Value as per Industry standards and repo… | VoNB margin is at 30.1% with an improvement of 420 bps over 25.9% in March 2022. | And I mean this again demonstrates your ability to tweak the product mix and your cost effectiveness that, of course, helps deliver this margin. | But if we were to look back those 10 years and break it into 5 and 5, possibly the first 5, of course, coming from a lower base, had a very, very stro… |
| People | — | — | — | — | — | — | — | — |
| Pricing | — | — | And given that, this environment, I mean, this particular segment is very competitive and few players have also increased pricing. | — | So you see that we had a certain measure in the last time in the pricing term. | — | Just wanted to understand that your peers have been highlighting that there is some pricing pressure in this part of the business. | — |
| Revenue growth | And how comfortable are you with this kind of growth of ULIPs through agency? | I think essentially, this quarter, growth was largely driven by this product. | New business premium registered a Y-o-Y growth of 14%, and stands at SBI Life Insurance Company Limited January 21, 2023 INR 215.1 billion, leading to… | — | New business premium is at 254.6 billion with a growth of 23% over the previous year. | New business premium registered a growth of 16% over the previous year and stands at `295.9 billion, leading to private market leadership. | First, you guided for around 25% growth at the agency counter. | — |