AgenciesRelated
Emkay Global has buy call on HDFC Life Insurance Company with a target price of Rs 690. The current market price of HDFC Life Insurance Company is Rs 545.5. Time period given by analyst is one year when HDFC Life Insurance Company Ltd. price can reach defined target.
HDFC Life Insurance Company Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 115401.82 Crore) operating in Financial Services sector.
HDFC Life Insurance Company Ltd. key Products/Revenue Segments include Amount transferred from Policyholder Account, Interest, Dividend & Rent and Profit/Loss on Sale/Redemption of Investments for the year ending 31-Mar-2021.
Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 17856.00 Crore, up 23.91 % from last quarter Total Income of Rs 14410.36 Crore and down -12.54 % from last year same quarter Total Income of Rs 20415.12 Crore. Company reported net profit after tax of Rs 506.19 Crore in latest quarter.
Investment Rationale
To reflect FY22 developments, the brokerage has tweaked estimates slightly and have introduced FY25 estimates. It increases TP to Rs 690 from Rs 670 as it rolls forward to Jun'23 TP and slightly increase VNB margins. It continues to value HDFC Life standalone on the appraisal value method and assign 2x FY23E P/EV to Exide Life. Notwithstanding near-term turbulence, HDFCLIFE warrants a premium valuation for its consistent robust performance. It reiterates Buy rating on the stock.
Promoter/FII Holdings
Promoters held 51.53 per cent stake in the company as of 31-Mar-2022, while FIIs owned 26.65 per cent, DIIs 7.47 per cent.
HDFC Life Insurance Company Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 115401.82 Crore) operating in Financial Services sector.
HDFC Life Insurance Company Ltd. key Products/Revenue Segments include Amount transferred from Policyholder Account, Interest, Dividend & Rent and Profit/Loss on Sale/Redemption of Investments for the year ending 31-Mar-2021.
Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 17856.00 Crore, up 23.91 % from last quarter Total Income of Rs 14410.36 Crore and down -12.54 % from last year same quarter Total Income of Rs 20415.12 Crore. Company reported net profit after tax of Rs 506.19 Crore in latest quarter.
Investment Rationale
To reflect FY22 developments, the brokerage has tweaked estimates slightly and have introduced FY25 estimates. It increases TP to Rs 690 from Rs 670 as it rolls forward to Jun'23 TP and slightly increase VNB margins. It continues to value HDFC Life standalone on the appraisal value method and assign 2x FY23E P/EV to Exide Life. Notwithstanding near-term turbulence, HDFCLIFE warrants a premium valuation for its consistent robust performance. It reiterates Buy rating on the stock.
Promoter/FII Holdings
Promoters held 51.53 per cent stake in the company as of 31-Mar-2022, while FIIs owned 26.65 per cent, DIIs 7.47 per cent.
(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
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