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HDFC Life Insurance Company Ltd

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NSEBSE

644.252.15 (0.33%)

03:59 PM,26th Sep 2023

644.00-0.25 (-0.04%)

04:01 PM,26th Sep 2023

BSE : 540777

NSE : HDFCLIFE

Sector : Financials

ISIN Code : INE795G01014

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Last Updated: Sep 26 2023 | 04:01 PM IST

Market Cap (₹ Cr)

138511

Turnover (₹ Cr)

12.68

Volume (Shares)

1968753

Face Value

10

52-WK High

690.85

52-WK High Date

13 Jul 2023

52-WK Low

457.80

52-WK Low Date

16 Mar 2023

All Time High

775.65

All Time High Date

02 Sep 2021

All Time Low

307.00

All Time Low Date

17 Nov 2017

HDFC Life Insurance Company Ltd

HDFC Life Insurance Company Limited is formed as a Joint Venture between Housing Development Finance Corporation Limited (HDFC Limited) and Abrdn plc formerly Standard Life Aberdeen plc. HDFC Standard Life Insurance Company Limited was incorporated as a Public Limited Company at Mumbai on 14th August 2000. The Company obtained the Certificate of Commencement of Business on October 12 2000. Further Company obtained Certificate of Registration from Insurance Regulatory and Development Authority of India (IRDAI) to undertake the life insurance business on 23rd October 2000. Currently the Company has 498 branches across India. The Company is a leading long-term life insurance solutions provider in India offering a range of individual and group insurance solution that meet various customer needs such as Protection Pension Savings Investment Annuity and Health. It offers a range of individual and group insurance solutions including participating non-participating and unit linked lines of businesses. The portfolio comprises of various insurance and investment products such as Protection Pension Savings Investment Annuity and Health. It has a broad diversified product portfolio covering five principal segments across the individual and group categories namely participating non-participating protection term non-participating protection health other nonparticipating and unit-linked insurance products. In 2003 HDFC Standard Life crossed 1 lakh policies and 10000 individual agents. During the year the company entered into distribution tie-ups with HDFC Bank and other banks. In 2004 the company launched unit linked products. During the year the company entered into distribution tie-up with Saraswat Co-operative Bank Limited. In 2007 HDFC Standard Life crossed the 5 lakh policy milestone. In 2010 HDFC Standard Life's total assets under management (AUM) crossed Rs 20000 crore.In Fiscal 2012 the Company established a wholly-owned subsidiary HDFC Pension to operate the pension fund business under the National Pension System. HDFC Pension is the second largest private pension fund management company in India in terms of assets under management and subscribers in Fiscal 2017. In FY 2011-12 the Company launched HDFC Life Credit Protect which offers term insurance coverage for retail loans.HDFC Standard Life turned profitable in fiscal 2012 and registered a profit of Rs 271 crore. In December 2013 the company declared a maiden dividend. In 2014 the company's AUM crossed Rs 50000 crore mark.In 2016 HDFC Standard Life's total premium crossed the Rs 16000 crore mark. During the year Standard Life Mauritius increased its stake in HDFC Standard Life Insurance Company from to 35% from 26%. In Fiscal 2016 The Company established a first international subsidiary in the UAE HDFC International to operate the reinsurance business. HDFC International has signed reinsurance treaties for two distinct lines of individual life business and entered into arrangements to offer reinsurance for group and credit life schemes. The Company expects the pension and reinsurance business to help them diversify its sources of revenue and profitability in future. On 31 July 2017 HDFC Standard Life Insurance Company and Max Group entities called off proposed merger of their life insurance businesses as the parties were unable to obtain the requisite regulatory approvals to consummate the merger. Earlier on 8 August 2016 HDFC Standard Life Insurance Company and Max Group Entities had announced the merger of their life insurance businesses through a composite scheme of arrangement and had entered into certain definitive agreements to implement the same subject to satisfaction of various conditions including the receipt of necessary approvals.During the FY2018 the Company completed its Initial Public Offer by way of an offer for sale up to 299827818 equity shares of face value of Rs 10 each of the Company by promoters of the Company i.e. Housing Development Finance Corporation Limited and Standard Life (Mauritius Holding) 2006 Limited. The Shares of the Company were listed on National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) on 17 November 2017.In FY 2018-19 Company launched HDFC Life Sanchay Plus to cater to growing customer need for guaranteed income which brought HDFC Life Sanchay Par Advantage to the customers. During FY 2018 HDFC Life launched an innovative deferred pension single premium annuity plan known as HDFC Life Pension Guaranteed Plan. At the end of FY 2018 HDFC Life had 34 Individual and 11 Group products with 8 Riders available for it's customers.The Company received the `Economic Times Great Place to Work' award during FY 2018.During the FY2019 the total new business premium increased to Rs 14971 crore showcasing a growth of 32% over previous yearwhile group new business premium showcased strong growth of 36% to end at Rs 7327 crore. The total premium during FY 2019 was Rs 29186 crore compared to Rs 23564 crore during FY 2018 registering a sustainable growth of 24% primarily due to healthy new business growth of 32% and growth of 16% in renewal premium.The corporate name of the Company was changed from HDFC Standard Life Insurance Company Limited to HDFC Life Insurance Company Limited on 17 January 2019. The name of the Company was changed to align the corporate name with its brand name. During the FY2020 the total new business premium increased by 15% to Rs 17238 crore.The company maintained its leadership position within the group segment recording growth of 20% to end at Rs 8775 crore. The total premium grew by 12% to Rs 32707 crore compared to Rs 29186 crore in FY 2019 underpinned by new business growth of 15% and 9% growth in renewal premium.The assets under management (AUM) were Rs 127226 crore with a debt-equity proportion of 71:29 as on 31 March 2020 thereby clocking a 1% growth over last year.In September 2020 the Company launched HDFC Life Group Poorna Suraksha a group term product which has a suite of benefits such as easier on-boarding long-term coverage portability and customised underwriting and pricing. During the FY2021the total new business premium increased by 17% to Rs 20107 crore. The company maintained its leadership position within the group segment recording growth of 14% to end at Rs 10031 crore.The total premium grew by 18% to Rs 38583 crore in FY 2020-21 compared to Rs 32707 crore in FY 2019-20 on account of new business growth of 17% and 19% growth in renewal premium.The assets under management (AUM) stood at Rs 173839 crore with a debt-equity proportion of 64:36 as on 31 March 2021 thereby clocking a 37% growth over the previous year.During the year 2020-21 the Company has issued and allotted 6000 unsecured redeemable nonconvertible debentures (NCDs) each having a face value of Rs 1000000/- for an aggregate nominal value of Rs 600 crore as subordinated debt.These NCDs are listed on the wholesale debt market segment of the National Stock Exchange of India Limited.The Board of Directors of the Company approved the Share Purchase and Share Swap Agreement dated 03 September 2021 entered into by and amongst the Company Exide Industries Limited and Exide Life Insurance Company Limited in connection with the acquisition of 100% of the share capital of and subsequent merger of Exide Life Insurance Company Limited into the Company for a total consideration of Rs. 668700 lakhs. The proposed preferential issuance of equity shares to Exide Industries has been approved by shareholders of the Company at the Extra Ordinary General Meeting held on 29 September 2021.In April 2021 Company introduced HDFC Life Saral Jeevan Bima a Term Insurance Plan by offering a lumpsum benefit in case of any eventualities.In July 2021 the Company launched HDFC Life Saral Pension a single premium non-participating non-linked annuity plan.In October 2021 Company introduced HDFC Life Sanchay Fixed Maturity Plan a plan that offers guaranteed returns in the form of a lumpsum benefit on maturity.In December 2021 the Company introduced HDFC Life Systematic Retirement Plan a deferred annuity plan available under both individual and group categories which offers guaranteed income for whole of life by paying premiums for a limited payment term option to choose deferment period from 5 to 15 years.As on March 31 2022 the Company had 39 individual and 13 group products in its portfolio along with 7 optional rider benefits catering to a diverse range of customer needs. During FY 2021-22 Company launched a Systematic Retirement Plan designed to lock in future rates by investing systematically. In FY 2021- 22 Company's largest distribution channel Bancassurance contributed 60% of the Individual APE. In FY 2021-22 the Company covered 5.4 crore lives policies issued through various channels out of which 915102 are individual policies issued. It added over 9 lakh new policies during year 2021-22.In FY 2021-22 the Company acquired 100% equity shares of Exide Life Insurance Co Ltd and became its wholly owned subsidiary effective from January 01 2022.The Asset Under Management (AUM) was Rs 204170 crore as on March 31 2022.In January 2023 the Company introduced HDFC Life Smart Pension Plus and Group Traditional Secure Plan.During the year 2022-23 the business of erstwhile Exide Life Insurance Company Limited got merged into the Company through the Scheme of Arrangement made effective from October 15 2022.

HDFC Life Insurance Company Ltd - Key Fundamentals

PARAMETER VALUES
Market Cap (₹ Cr)

138511

EPS - TTM (₹) [S]

6.58

P/E Ratio (X) [S]

10.68

Face Value (₹) 10
Latest Dividend (%)19.00
Latest Dividend Date 16 Jun 2023
Dividend Yield (%) 0.29
Book Value Share (₹) [S]60.30
P/B Ratio (₹) [S]10.68
[*C] Consolidated [*S] Standalone

Funds Owing this Stock

Scheme Name Amount Invested ( ₹ Cr ) No Of Shares Net Asset (%)
Baroda BNP Paribas Conservative Hybrid Fund-Dir (IDCW-Q) 1.16 18000 0.20
Baroda BNP Paribas Conservative Hybrid Fund-Reg (G) 1.16 18000 0.20
Baroda BNP Paribas Conservative Hybrid Fund-Reg (IDCW-M) 1.16 18000 0.20
Baroda BNP Paribas Conservative Hybrid Fund-Reg (IDCW-Q) 1.16 18000 0.20
Baroda BNP Paribas Conservative Hybrid Fund-Dir (IDCW-M) 1.16 18000 0.20
Baroda BNP Paribas Conservative Hybrid Fund-Dir (G) 1.16 18000 0.20
Nippon India Hybrid Bond Fund (IDCW-M) 0.66 10159 0.08
Nippon India Hybrid Bond Fund (G) 0.66 10159 0.08
Nippon India Hybrid Bond Fund - Direct (IDCW-Q) 0.66 10159 0.08
Nippon India Hybrid Bond Fund - Direct (IDCW-M) 0.66 10159 0.08

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Research Reports

Date BrokerActionPrices(Rs)Report
28-10-2021Geojit Financial Services Buy 690

Stock Strength

Today's Low/High

638.15

648.85

Week Low/High

638.15

666.00

Month Low/High

624.65

678.00

Year Low/High

457.80

691.00

All time Low/High

307.65

776.00

Share Price Returns

Period BSENSE SENSEXNIFTY
1 Week-2.48%-2.38%-2.44-2.33%
1 Month2.55%2.54%1.632.07%
3 Month2.76%2.77%4.715.35%
6 Month30.87%30.88%14.6316.05%
1 Year19.44%19.43%13.5113.49%
3 Year11.61%11.56%76.3877.96%

Financials

Graph
Table

Bulk/ Block

ALL
NSE
BSE
ALL
BUY
SELL
DateClient NameExchangeTransactionQuantityPrice
28-06-2023HOUSING DEVELOPMENT FINANCE CORPORATION LIMITEDBSEBUY16578664674.87
27-06-2023HOUSING DEVELOPMENT FINANCE CORPORATION LIMITEDNSEBUY14880000667.10
31-05-2023ABRDN (MAURITIUS HOLDINGS)2006 LIMITEDBSESELL35694105579.60
31-05-2023ABRDN (MAURITIUS HOLDINGS)2006 LIMITEDBSESELL2600000579.60
31-05-2023ABRDN (MAURITIUS HOLDINGS)2006 LIMITEDBSESELL2750000579.60
31-05-2023ABRDN (MAURITIUS HOLDINGS)2006 LIMITEDBSESELL2575000579.60
31-05-2023ABRDN (MAURITIUS HOLDINGS)2006 LIMITEDBSESELL2575000579.60
31-05-2023ABRDN (MAURITIUS HOLDINGS)2006 LIMITEDBSESELL3325000579.60
31-05-2023ABRDN (MAURITIUS HOLDINGS)2006 LIMITEDBSESELL1850000579.60
31-05-2023ABRDN (MAURITIUS HOLDINGS)2006 LIMITEDBSESELL14200000579.60

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Peer Group Comparison

NamePrice(In Rs)Chg(%)Mkt Cap(Rs Cr)Sales(Rs Cr)Profit(Rs Cr)EPS(Rs)P/E(x)

Shareholding Pattern

Jun 2023
Archive
CategoryShare(%)
Promoter50.33
Financial Institutions Banks0.06
Foreign Institutional Investors30.88
Insurance Companies1.57
Mutual Funds Uti4.01
Other Institutional Investors0.53
Indian Public7.14
Others Non Institutional Investors5.45
Custodians0.03

Corporate Action

Announcement DatePurposeFromToRemarks
Data Not Found

Price History

Search for Price History

DateOpenHighLowCloseSharesTrades
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Company Info

Company Information

Chairman : Deepak Parekh

Nominee : Keki Mistry.

Nominee : Norman Keith Skeoch

Nominee : Renu S Karnad

Independent Director : Jamshed J Irani

Independent Director : A K T Chari

Independent Director : VEGULAPARANAN KASI VISWANATHAN

Independent Director : Prasad Chandran

Independent Director : Sumit Bose

Independent Director : Ranjan Mathai

Independent Director : Ketan Dalal

Managing Director & CEO : Vibha Padalkar

Company Secretary : Narendra Gangan

Nominee : Sir Gerry Grimstone

Alternate Director : Rushad Abadan

Alternate Director : James Aird

Whole-time Director : Suresh Badami

Registered Office: 13th Floor Lodha Excelus, ApolloMills Compound Mahalaxmi,Mumbai,Maharashtra-400011 Ph: 91-22-67516666

Email:investor.service@hdfclife.com

URL:http://www.hdfclife.com