ICICI Prudential Life Insurance Company valuation — what today's price assumes
Ten years of ICICI Prudential Life Insurance Company (ICICIPRULI)'s results, the ratios that matter for this business, and the growth and returns today's share price already implies — all built from its filed accounts.
We do not publish one number for ICICI Prudential Life Insurance Company — and here is why.
On today's figures our model puts ICICI Prudential Life Insurance Company at roughly 2.7 times what the market pays for it. On a company this widely followed, a gap that large almost always means our model is missing something rather than that thousands of investors are wrong. So we show the workings and say plainly that we cannot stand behind a single figure here.
What the market is assuming
Worked backwards from today's share price: the new-business multiple today’s price implies for ICICI Prudential Life Insurance Company, against what the model assumes.
How to read this. The number on the left is the new-business multiple today’s share price quietly takes for granted. The number on the right is what the model actually assumes. When the two are far apart, that gap is the bet you would be taking.
The numbers behind them
Revenue and net profit as filed, in ₹ crore.
| Year | Revenue | Net profit | Margin |
|---|---|---|---|
| FY2025 | 70,620 | 1,186 | 1.7% |
| FY2026 | 63,420 | 1,608 | 2.5% |
How this company gets valued — and why
Our model and the market disagree so far apart on this company that the model is the more likely one to be wrong. Rather than publish a number we cannot stand behind, we show the workings and say so.
Estimate withheld — model and market disagree too farUnderstand this method
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The complete valuation
Unlock the complete valuation report
- ✓Fair value per share — with the full working behind it
- ✓Bull, base and bear cases — and what moves between them
- ✓Every assumption — growth, margins, cost of capital, with sources
- ✓Peer comparison — how rivals are priced on the same measures
- ✓Downloadable PDF report — the full write-up, yours to keep
Compare with peers
The same valuation, run side by side.
ICICI Prudential Life Insurance Company vs HDFC LifeThe two largest private life insurers, on embedded value.→ICICI Prudential Life Insurance Company vs SBI LifeThe bank-backed private comparison on the same measures.→ICICI Prudential Life Insurance Company vs LICPrivate against the state-owned incumbent.→Frequently asked
Is ICICI Prudential Life Insurance Company overvalued?
At ₹458 the market is pricing in roughly 2.6% sustained VNB, against the ~25.0% its own record supports. That is less than it has delivered — on these numbers the market is asking the business for less than its own record, which usually means it doubts the record repeats.
What is the intrinsic value of ICICI Prudential Life Insurance Company?
This business is a group of operations with different economics, so a single blended figure would describe none of them. The parts are valued separately and the breakdown is in the report, rather than one number that cannot be defended.
How does FairStocks calculate fair value?
From published financial statements. The method is chosen to fit the business — a bank on excess return, a regulated utility on its rate base, a conglomerate by its parts — and every assumption is shown with its source. When the numbers do not support an estimate, no estimate is published. This is an educational research tool: it reports what the model computed and does not recommend buying or selling anything.
What assumptions are used to value ICICI Prudential Life Insurance Company?
A cost of capital of 11.05%, growth drawn from the company's own record rather than from guidance, and the valuation method that fits the business. All of them are listed in the report, with how much each one moves the answer.