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India First Life Insurance Essentials
As of September 18, 2024, India First Life Insurance, Unlisted share price is ₹45.00 per share and the face value is ₹10.00/share. The lot size of India First Life Insurance is None shares. The 52-week high for India First Life Insurance stock price is ₹45, while the 52-week low is ₹45
An International Securities Identification Number (ISIN) is a code that uniquely identifies a specific securities issue. The numbers are allocated by a country's respective national numbering agency (NNA).
Value of a security, as stated by its issuer. It has no relation with market price of the stock.
Total shares or total number of shares outstanding represents the amount of stock on the open market, including shares held by institutional investors and restricted shares held by insiders and company officers.
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It is the profit allocated to each outstanding share of common stock.
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It shows the relationship between the current price and the book value of each share. A lower P/B ratio can mean that the stock is undervalued.
Market capitalization is the aggregate valuation of the company based on its current share price and the total number of outstanding shares.
It measures companys total value, which includes market capitalization, debt and excludes cash.
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India First Life Insurance Growth
Compounded Sales Growth
Compounded Profit Growth
Return On Equity
Highlights
- Financials:- Over the last 5 years topline of the company grew at an annualized rate of 17.93% and bottom line grew at an annualized rate of 8.29%.
- Premium Growth:- In FY23, New Business Premium grew by 18%, Renewal Premium grew by 29%, and New Individual Business APE (Annualized Premium Equivalent) grew by 27% y-o-y (year-on-year).
- Solid Solvency and profitability:- In FY23, VoNB (Value of New Business) margin is 30.6%, Expense ratio of 19.01% and on the solvency side of things India First has a strong solvency margin of 2.18x.
- Notable AUM and CSR:- In FY23, the company's Asset Under Management (AUM) is 21,683 Cr. which is 14.53% up y-o-y and Claim Settlement Ratio (CSR) stood at 98.4%.
- Investment Thesis:- IndiaFirst Life has outpaced both the overall insurance industry and the private insurance industry in terms of individual new business growth. In the fiscal year 2022-23, it ranked 7th among all private insurers in terms of year-over-year growth. As compared to its peers' average P/E of 50.4x, the company is currently trading at a P/E of 42.9x, making it a more reasonably priced investment. Additionally, IndiaFirst is trading at a P/B of 3.1x as compared to its peers' average of 8.1x, which further solidifies its position as a bargain buy.
- Although the company's FY23 revenue growth and profitability are impressive, we will continue to monitor its performance for another 6 months before changing our rating.
- (Peers taken are SBI Life Insurance Company, HDFC Life Insurance Company, Max Life Insurance, LIC.)
- PSU Bank Backup:- The company is backed up by Bank of Baroda (65%), Union Bank of India (9%) and Carmel Point Investments India Private Limited (26%).
Business Rating
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Min. Investment: ₹