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SBI Life Insurance Company Ltd

| Audited Financial Results for Quarter & Year Ended March 31, 2026

BULLISH SENTIMENT

Report Source

⬤22nd Apr 26

Summary : SBI Life reports strong FY26 results, declares dividend, and navigates regulatory changes.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Net Commission
  2. Operating Expenses (Employees remuneration and welfare expenses, Other operating expenses)
  3. Provisions for doubtful debts
  4. Provisions for diminution in value of investments
  5. Goods and Service Tax (GST) on charges
  6. Provision for taxes
  7. Benefits Paid (Net)
  8. Change in actuarial liability
  9. Gross premium income (First Year, Renewal, Single)
  10. Net premium income
  11. Income from investments (Net)
  12. Other income
  13. Transfer of funds from Shareholders A/c
  14. Net cash flow from operating activities: ₹34,52,267 Lakhs (FY26)
  15. Net cash flow from investing activities: ₹(35,31,799) Lakhs (FY26)
  16. Net cash flow from financing activities: ₹(17,880) Lakhs (FY26)
  17. Cash and cash equivalents at end of year: ₹9,16,464 Lakhs (FY26)
  18. ₹60,483 Lakhs as of March 31, 2026
  19. Shareholders' Funds: ₹19,08,600 Lakhs (FY26)
  20. Policyholders' Funds: ₹4,71,24,672 Lakhs (FY26)
  21. Total Assets: ₹4,92,05,337 Lakhs (FY26)
  22. Net Current Assets: ₹4,39,306 Lakhs (FY26)
  23. Company has no subsidiaries/associates/joint ventures; consolidated statements not applicable.

Corporate Overview

  1. Assessing financial impact of new Labour Codes
  2. Complying with IRDAI order for Sahara India Life Insurance Company Limited (SILIC) business transfer
  3. Compliance with IRDAI regulations
  4. Reliance on Appointed Actuary for liability valuation
  5. Life insurance business in India.
  6. Formal and factual in reporting financial results and regulatory compliance.
  7. Par life
  8. Par pension
  9. Par variable
  10. Non Par Individual Life
  11. Non Par Pension
  12. Non Par Group life
  13. Non Par Annuity
  14. Non Par Health
  15. Non Par Variable
  16. Linked Individual Life
  17. Linked Group
  18. Linked Pension

Risk Factors

  1. Uncertain financial impact of new Labour Codes.
  2. Regulatory compliance for SILIC business transfer.
  3. Seasonality affects interim financial performance.

Key Drivers

  1. Approved strong financial results for FY26.
  2. Declared interim dividend of ₹2.70 per share.
  3. Auditors issued unmodified opinion on financials.
  4. Employee stock options allotted, boosting morale.

Auditor’s Report

  1. Unmodified opinion
  2. Actuarial valuation of liabilities for life policies in force and discontinued policies where liability exists. Auditors relied on Appointed Actuary's certificate.

Board Commentary

  1. Interim dividend of ₹2.70 per equity share declared for FY26.
  2. Financial impact of Labour Codes
  3. Regulatory compliance for SILIC business transfer
  4. IRDAI order for transfer of SILIC business to SBI Life
  5. Evaluation of financial impact from new Labour Codes

Corporate Governance

  1. Board Audit Committee reviewed financial results.

Management Discussion & Analysis

Future Strategy

  1. Monitoring Labour Codes for future impact
  2. Seeking IRDAI directions for SILIC transfer compliance

Industry Overview

  1. Seasonality of the insurance industry affecting interim results.

Operational Focus Areas

  1. Ensuring compliance with SEBI and IRDAI regulations
  2. Accurate actuarial valuation of liabilities

Performance Drivers

  1. Growth in gross and net premium income
  2. Investment income performance
  3. Effective management of operating expenses

Risk Control Measures

  1. Continuous monitoring of Labour Codes developments
  2. Seeking IRDAI directions for SILIC transfer

Critical Risks

  1. Uncertain financial impact of new Labour Codes
  2. Regulatory compliance risks related to SILIC business transfer
  3. Seasonality of business impacting interim results