I

ICICI Lombard General Insurance Company Limited

ICICIGINSE
Market snapshot · 2026-08-11 11:46 UTC

1,643.50

₹-5.30 (-0.32%)

MARKET CAP

₹82.07K Cr

STOCK P/E

34.0x

52W HIGH

₹2,064.90

52W LOW

₹1,544.60

BOOK VALUE

₹341.46

EPS

₹48.35

ROE

14.63%

SECTOR

Financials

DEBT/EQUITY

VOLUME

5.14L

P/B RATIO

4.81x

PEG RATIO

-0.74

Sector

Financials

Themes

Insurance
D
Dividend
E
Earnings
₹2,012.56₹1,912.47₹1,812.38₹1,712.29₹1,612.20VolumeEDEEDEAug '25Sep '25Nov '25Jan '26Mar '26Apr '26Jun '26Aug '26

AI Summary

✦ Clartha

ICICI Lombard is an Indian general insurer offering motor, health, and commercial insurance products. Motor and health provide retail scale, while fire, marine, engineering, aviation, liability, and cyber cover commercial demand. Crop, credit, travel, and home insurance broaden its product base. Recent open-interest activity reflects positive market sentiment but offers no clear operating catalyst for margins or growth. Revenue grew 13.0% year-on-year, ahead of 10.5% profit growth, while margins remained stable. ROE stands at 14.6%, indicating reasonable profitability without evidence of improving earnings quality. Debt-to-equity is unavailable, preventing leverage assessment. At 33.9 times earnings, the stock appears rich relative to 10.5% profit growth. The valuation assumes sustained premium growth and disciplined underwriting, leaving limited room for claims volatility or slower expansion.

Forecast

Analyst targets, estimate history, and probabilistic forward ranges for ICICIGI.

26.00 analysts

Price Forecast

Current
₹1,644
High Target
₹2,430
▲ +47.9%
Median Target
₹1,945
▲ +18.3%
Low Target
₹1,430
▼ -13.0%
Now₹1,644High ₹2,430Median ₹1,945Low ₹1,430Aug '25Now12M Target
Price history (1Y)
Analyst target range
26 analysts

Probabilistic Range

Probabilistic lognormal cone using 1Y realized volatility and analyst-target drift when available.

Time horizonRange ()Probability
3M₹1,414 - ₹1,93880%
6M₹1,335 - ₹2,08480%
12M₹1,235 - ₹2,31980%
Realized vol: +24.6% · Drift: +6.0%

Revenue Forecast

₹ Cr
Jun '26Current₹7,088.0
Sep 2026 ETrend estimate range
High₹8,301.0Base₹7,686.1Low₹7,071.2
Sep '25: ₹6,869.0 · Dec '25: ₹6,905.0 · Mar '26: ₹6,825.0 · Jun '26: ₹7,088.0 · Sep '26: ₹7,686.1 · Dec '26: ₹7,726.4
Sep '25Dec '25Mar '26Jun '26Sep '26 EDec '26 E6,869.06,905.06,825.07,088.07,686.17,726.4
PastCurrentTrend estimate: Low / Base / High

EPS Forecast

₹ / share
Jun '26Current₹8.08
Sep 2026 ETrend estimate range
High₹15.42Base₹13.77Low₹12.12
Sep '25: ₹16.47 · Dec '25: ₹13.23 · Mar '26: ₹10.96 · Jun '26: ₹8.08 · Sep '26: ₹13.77 · Dec '26: ₹11.06
Sep '25Dec '25Mar '26Jun '26Sep '26 EDec '26 E16.4713.2310.968.0813.7711.06
PastCurrentTrend estimate: Low / Base / High
Market Intelligence

Multi-factor synthesis of 5 key dimensions

Overall Outlook
Neutral
61%
Analyst Consensus
Weakening

From 26 analysts

Mean upside+18.7%

Fundamentals

Moderate

Fundamentals institutional score is 49 using EVA spread proxy 2.6%; growth durability 22.1.

Valuation

Attractive relative to peers

Valuation institutional score is 80 using relative multiple z-scores where peer dispersion is available.

Analyst Consensus

Neutral

Analyst View institutional score is 55 using mean target upside 18.7%; dispersion penalty 20.5; recommendation breadth from available consensus.

Technical Structure

Strong Trend

Technicals institutional score is 73 using EMA-20 continuation within 5% tolerance; VCP range/volume contraction proxy.

Market Sentiment

Neutral backdrop

Recent news flow is balanced or not decisive enough to tilt the tape. Based on 3 recent ticker-linked news items.

Signal Summary

Market intelligence remains Neutral. valuation and technical structure provide support, while fundamentals and market sentiment remain considerations.

Composite weights: Fundamentals 25%, Valuation 20%, Analyst Consensus 20%, Technical Structure 20%, Market Sentiment 15%.

Fundamentals ModerateValuation Attractive relative to peersAnalyst Consensus NeutralTechnical Structure Strong TrendMarket Sentiment Neutral backdrop

Key Data Points

Mean Target Price1,951.3 target
Mean Upside+18.7%
Technical Score73%
Fundamental Score49%
Data CoverageHigh

Important Note: This is market intelligence, not investment advice. Always conduct your own research and consider your financial goals and risk tolerance.

Valuation Metrics

Trading 9.6% below historical median. Valuation is stable — currently in the strongly undervalued zone (z-score: -0.53). Confidence: 88%.

Live forward EPS implies next-12-month EPS of ₹70.31. Applying the stock's normalized valuation corridor produces a fair range of ₹2,384.21 to ₹2,759.67, with base value near ₹2,644.36 (+60.9% vs current price).

Forward Valuation Outlook

Live forward estimate anchored to the company's historical valuation corridor.

Below normalized range

Forward EPS

₹70.31

Forward P/E

23.4x

Base Fair Value

₹2,644.36

Fair Range

₹2,384.21 - ₹2,759.67

Upside To Base

+60.9%

Estimate Source

Live forward EPS

Growth Estimate

-46.2%

P/B
Strongly Undervalued

5Y Average

5.85

Current

4.81

Overvalued

6.73

Undervalued

4.97

P/E
Strongly Undervalued

5Y Average

32.09

Current

33.99

Overvalued

39.25

Undervalued

33.91

P/S
Fair

5Y Average

2.80

Current

2.96

Overvalued

3.22

Undervalued

2.38

Peers & Comparison

Sector: Financials · Theme: Insurance

Insurance Business Peers8 peers
Avg P/E: 113.4x
CompanyRev. GrowthMarginP/Evs Avg52W Perf.
-40.2%0.2%
623.0x
Premium
+449% vs avg
-5.7%
BAJAJ FINSERV LTD.
BAJAJFINSVInsurance
+19.3%6.5%
31.7x
Undervalued
-72% vs avg
+5.9%
HDFC LIFE INS CO LTD
HDFCLIFEInsurance
+15.2%1.9%
58.7x
Undervalued
-48% vs avg
-29.5%
+18.8%2.1%
70.4x
Undervalued
-38% vs avg
+1.0%
DR. REDDY S LABORATORIES
DRREDDYPharmaceuticals
-5.6%10.0%
30.7x
Undervalued
-73% vs avg
-5.0%
BSE LIMITED
BSEStock Exchanges & Ratings
+64.0%48.9%
50.3x
Undervalued
-56% vs avg
+50.1%
HINDALCO INDUSTRIES LTD
HINDALCOMetals - Aluminium
+32.1%5.5%
14.4x
Undervalued
-87% vs avg
+58.0%
BAJAJ AUTO LIMITED
BAJAJ-AUTOTwo Wheelers
+64.0%16.3%
27.7x
Undervalued
-76% vs avg
+42.5%
Insurance Theme Peers8 peers
Avg P/E: 116.9x
CompanyRev. GrowthMarginP/Evs Avg52W Perf.
-40.2%0.2%
623.0x
Premium
+433% vs avg
-5.7%
BAJAJ FINSERV LTD.
BAJAJFINSVInsurance
+19.3%6.5%
31.7x
Undervalued
-73% vs avg
+5.9%
HDFC LIFE INS CO LTD
HDFCLIFEInsurance
+15.2%1.9%
58.7x
Undervalued
-50% vs avg
-29.5%
ICICI PRU LIFE INS CO LTD
ICICIPRULIInsurance
-83.1%2.6%
43.3x
Undervalued
-63% vs avg
-19.0%
+18.8%2.1%
70.4x
Undervalued
-40% vs avg
+1.0%
STAR HEALTH & AL INS CO L
STARHEALTHInsurance
+1407.8%3.6%
51.6x
Undervalued
-56% vs avg
+29.2%
GO DIGIT GENERAL INS LTD
GODIGITInsurance
+8.6%4.8%
49.9x
Undervalued
-57% vs avg
-25.7%
-1.3%18.3%
6.5x
Undervalued
-94% vs avg
-10.5%
WHY THESE PEERS

ICICI LOMBARD GIC LIMITED trades at a discount (34.0x vs peer avg 113.4x), suggesting potential undervaluation relative to the Insurance cohort. Peers include MAX FINANCIAL SERV LTD, BAJAJ FINSERV LTD., HDFC LIFE INS CO LTD — selected based on business model, industry classification, market cap similarity, and business theme alignment.

Financials

Real statement data for revenue, earnings quality, conversion, and balance-sheet coverage. Monetary values are shown in Rs crore.

Latest revenue

₹7.09K CrJun 2026

Latest net profit

₹403 CrJun 2026

Latest EPS

₹8.08Jun 2026

Net margin

7.0%Jun 2026

Performance

Bars show revenue and net profit. The line shows net margin.

Rs crore + margin %
Q1 '26Q2 '26Q3 '26Q4 '26Q1 '270.0%4.0%8.0%12.0%16.0%0.00 Cr2.00K Cr4.00K Cr6.00K Cr8.00K Cr
  • Revenue
  • Net income
  • Net margin %

Earnings

Revenue is shown in crores. EPS is rupees per share.

Rs crore + Rs/share
Q1 '26Q2 '26Q3 '26Q4 '26Q1 '270.00 Cr2.00K Cr4.00K Cr6.00K Cr8.00K Cr₹0₹5₹10₹15₹20
  • Revenue
  • EPS

Revenue to profit conversion

Bridge from operating numbers to profit for the latest reported period.

Rs crore
RevenueExpensesDepreciationOperatingprofitOther incomeInterestProfitbefore taxTax & otherNet Profit0.00 Cr2.00K Cr4.00K Cr6.00K Cr8.00K Cr

Latest reported period: Jun 2026

Debt level and coverage

Debt, cash and free cash flow compared on the same crore scale.

Rs crore
Annual view
Mar 2022Mar 2023Mar 2024Mar 2025Mar 20260.00 Cr20.00K Cr40.00K Cr60.00K Cr80.00K Cr
  • Debt
  • Free cash flow
  • Cash & equivalents

Results

MetricJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales +4,7165,2715,1945,3915,6016,1476,1616,0516,3966,8696,9056,8257,088
Expenses +4,2064,5094,6394,7014,8315,2075,1995,4435,4155,8256,0516,1386,566
Operating Profit5107625556907709409626099811,044854686522
OPM %11%14%11%13%14%15%16%10%15%15%12%10%7%
Other Income +1021984-21-2601333163214
Interest0000000000000
Depreciation0000000000000
Profit before tax5207645746987749199606689941,077870718536
Tax %25%24%25%26%25%24%25%24%25%24%24%24%25%
Net Profit +390577431520580694724510747820659547403
EPS in Rs7.9511.758.7610.5411.7714.0314.6310.2815.0416.4713.2310.968.08
Raw PDF

All values in ₹ Crores unless otherwise stated. Source: Screener Master (Standalone).

Shareholding Pattern

HolderJun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters +51.46%51.37%51.31%51.28%51.22%
FIIs +23.94%24.04%23.35%22.29%21.45%
DIIs +17.52%17.41%18.25%19.41%20.64%
Government +0.10%0.10%0.10%0.10%0.10%
Public +6.97%7.08%6.98%6.90%6.57%
Others0.01%0.01%0.02%0.02%
Jun 2026
Promoters +
FIIs +
DIIs +
Government +
Public +
Others

Events Timeline

Annual Report FY26

FY2026PDFCompany Reports Open

Update On Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015

Aug 08, 2026PDFCompany Reports Open

Communication Sent To Shareholders Regarding Transfer Of Equity Shares To Investor Education And Protection Fund (IEPF)

Aug 07, 2026PDFCompany Reports Open

Announcement under Regulation 30 (LODR)-Newspaper Publication

Aug 07, 2026PDFCompany Reports Open

Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS

Aug 04, 2026PDFCompany Reports Open