ICICI Prudential Life shares slip 4% post Q1 results; here are price targets
ICICI Prudential Life Insurance Company reported a 34.2 per cent jump in net profit to Rs 302 crore for the first quarter of FY26.
- Jul 16, 2025,
- Updated Jul 16, 2025 11:49 AM IST
Shares of ICICI Prudential Life Insurance Company Ltd tanked 4 per cent in Wednesday's trade, even as a couple of brokerages upped target prices on the stock after the private life insurer's June quarter results.
ICICI Prudential Life Insurance Company reported a 34.2 per cent jump in net profit to Rs 302 crore for the first quarter of FY26 compared with Rs 225 crore in the corresponding quarter of year.
Following the results, ICICI Prudential Life Insurance shares fell 1.75 per cent, or Rs 11.70, to Rs 658 on the BSE at 10:30 pm. Earlier in the session, the stock hit a low of Rs 643, down nearly 4 per cent from its previous close of Rs 669.70.
Baking in Q1 numbers and rolling over to H1FY28, Centrum Broking changed its target on ICICI Prudential Life to Rs725 from Rs 680 with an unchanged target multiple of 1.6 times -– a 30 per cent discount to long term.
"We raise our target price to Rs 760 (from Rs 730 earlier), valuing the insurer at 1.8x FY27e EVPS (against 1.7x earlier) of INR 430. We reiterate BUY," JM Financial said.
At today's low of Rs 643, ICICI Prudential Life Insurance was down 19.1 per cent from its 52-week high of Rs 795 on BSE.
The private insurance company's Value of New Business (VNB) fell marginally to Rs 457 crore from Rs 472 crore in the first quarter of FY25. The Company reported a total premium growth of 8.1% year-on-year in Q1 FY26 on the back of its extensive distribution and comprehensive product suite, ICICI Prudential Life Insurance Company said in a statement.
Emkay Global said ICICI Pru Life delivered a largely in-line performance, led by 5 per cent decline in APE. VNB margin came at 24.5 per cent, higher than the estimated 24.2 per cent. The improvement in VNB margin was driven by lower contribution by ULIPs and a strong 24 per cent growth in Retail Protection. The management continues to focus on absolute VNB growth, while the product mix will mirror customer demand.
"Ahead, FY26 remains a story of two halves, with growth likely to pick up in H2FY26E. To bake in the Q1 developments, we have reduced our APE estimates by 2 per cent over FY26-28; however, we have increased our VNB margin estimates by 30-40 bps, resulting in largely unchanged VNB over FY26-28E. Ahead, growth revival will be key to the stock’s re-rating. We maintain ADD, with an unchanged Jun-26E target price of Rs 675, implying FY27E P/EV of 1.6x and implied P/VNB of 14.3x," Emkay said.
Shares of ICICI Prudential Life Insurance Company Ltd tanked 4 per cent in Wednesday's trade, even as a couple of brokerages upped target prices on the stock after the private life insurer's June quarter results.
ICICI Prudential Life Insurance Company reported a 34.2 per cent jump in net profit to Rs 302 crore for the first quarter of FY26 compared with Rs 225 crore in the corresponding quarter of year.
Following the results, ICICI Prudential Life Insurance shares fell 1.75 per cent, or Rs 11.70, to Rs 658 on the BSE at 10:30 pm. Earlier in the session, the stock hit a low of Rs 643, down nearly 4 per cent from its previous close of Rs 669.70.
Baking in Q1 numbers and rolling over to H1FY28, Centrum Broking changed its target on ICICI Prudential Life to Rs725 from Rs 680 with an unchanged target multiple of 1.6 times -– a 30 per cent discount to long term.
"We raise our target price to Rs 760 (from Rs 730 earlier), valuing the insurer at 1.8x FY27e EVPS (against 1.7x earlier) of INR 430. We reiterate BUY," JM Financial said.
At today's low of Rs 643, ICICI Prudential Life Insurance was down 19.1 per cent from its 52-week high of Rs 795 on BSE.
The private insurance company's Value of New Business (VNB) fell marginally to Rs 457 crore from Rs 472 crore in the first quarter of FY25. The Company reported a total premium growth of 8.1% year-on-year in Q1 FY26 on the back of its extensive distribution and comprehensive product suite, ICICI Prudential Life Insurance Company said in a statement.
Emkay Global said ICICI Pru Life delivered a largely in-line performance, led by 5 per cent decline in APE. VNB margin came at 24.5 per cent, higher than the estimated 24.2 per cent. The improvement in VNB margin was driven by lower contribution by ULIPs and a strong 24 per cent growth in Retail Protection. The management continues to focus on absolute VNB growth, while the product mix will mirror customer demand.
"Ahead, FY26 remains a story of two halves, with growth likely to pick up in H2FY26E. To bake in the Q1 developments, we have reduced our APE estimates by 2 per cent over FY26-28; however, we have increased our VNB margin estimates by 30-40 bps, resulting in largely unchanged VNB over FY26-28E. Ahead, growth revival will be key to the stock’s re-rating. We maintain ADD, with an unchanged Jun-26E target price of Rs 675, implying FY27E P/EV of 1.6x and implied P/VNB of 14.3x," Emkay said.