SBI Life Insurance Company Limited (SBILIFE) Earnings Call Transcripts

SBI Life Insurance Company Limited's Latest Earnings Call - April 22, 2026

SBI Life Insurance Company Limited reported its Q4 FY '26 earnings, showcasing a robust performance with a 20% growth in new business premium to INR 425.5 billion and a profit after tax increase of 2% to INR 24.7 billion. The company maintained a VoNB margin of 27.5%, despite the GST impact, and reported an embedded value of INR 87.9 billion. Management reiterated confidence in achieving a 14% growth rate moving forward, supported by product diversification and channel expansion.

Reported metrics

Guidance from management

Management expects to maintain a growth rate of around 14% in the coming years, supported by a balanced product mix and channel expansion.

What management said

Coming to growth prospects, you are aware that the company 3-year CAGR is at 12.9%. And last financial year, we have grown by [indiscernible] going forward also, we intend to maintain the growth rate at around 14%, which is has been our CAGR for the last 3 to 5 years. And we will continue to maintain this kind of growth rate in coming years also.

Our share is 4%, 4% of shares for [indiscernible], credit client is over and above that. And broadly, that number has been flat but the mix has changed favorably from TROP towards higher proportion of pure protection. So the premium numbers are not seen as a proportion, obviously, absolute numbers have grown but share has remained broadly constant, but I'm assured we have seen significantly higher [indiscernible]

What analysts pressed on

Analysts expressed concerns about the impact of GST on margins and the sustainability of growth in the banca channel. Questions were also raised about the company's ability to maintain margins amidst a changing product mix.

Main topics on the call

• New Business Premium Growth — New business premium grew by 20% to INR 425.5 billion, with a private market share of 21.4%. This growth was driven by a balanced product mix and diversified distribution strategy.
• Profitability and Margins — Profit after tax increased by 2% to INR 24.7 billion. VoNB margin stood at 27.5%, despite the GST impact. Excluding GST, VoNB margin would have been 29%.
• Channel and Product Mix — The company is focusing on strengthening its agency channel and diversifying its product mix. The agency channel's contribution is expected to grow, with a shift towards non-ULIP products.
• Regulatory and Accounting Changes — SBI Life is preparing for the transition to Indian Accounting Standards by April 2027. The company is confident in navigating regulatory changes.

Read the full SBI Life Insurance Company Limited transcript (April 22, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 27 SBI Life Insurance Company Limited earnings call transcripts on record, spanning January 22, 2020 to July 24, 2026. Based on this history, SBI Life Insurance Company Limited reports quarterly. The most recent call on file is dated July 24, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

SBILIFE

Exchange

NSEI

Country

IN

Sector

Financials

Industry

Insurance

Calls on record

27

First call

January 22, 2020

Most recent

July 24, 2026

Reporting cadence

quarterly