HDFC Life Insurance Company Q4FY22 and Year Ended results : Net Income fall 8.01% to ₹17,682 Cr YoY

Solvency Ratio : 176% in FY22 and 201% in FY21. Proposed Final Dividend of ₹ 1.70 per share

logo credit- hdfc life / seeklogo
article continues after this advertisement

HDFC Life Insurance Company Limited was incorporated as a public limited company at Mumbai on 14th August 2000. The Company obtained the certificate of commencement of business on October 12 2000, and the Company obtained its certificate of registration from Insurance Regulatory and Development Authority of India (IRDAI) to undertake the life insurance business on 23rd October 2000.HDFC Life is one of the most profitable life insurers based on Value of New Business (VNB) margin. Today the company has posted its Q4FY22 and year ended financial results, the details are as below :

(I) Audited Consolidated Financial Results for Quarter Ended (YoY comparison):

The company has reported, a consolidated Total Income of ₹17,682.31 crore in the quarter ended on March 31, 2022 as against ₹19,221.68 crore in the corresponding quarter ended last year on Mar 31, 2021, decreased by 8.01%.

The company has posted a consolidated Net Profit of ₹506.19 crore in the quarter ended on March 31, 2022 as against ₹319.06 crore in the corresponding quarter ended in last year on Mar 31, 2021. The PAT surges up by 58.65%.

The status of the EPS of the company stood at ₹2.47 as on March 31, 2022 compared to the previous quarter ended on Mar 31, 2021 which was ₹1.58, up by 56.33%.

₹*Mar 31, 2022 (Q4-Y22)Dec 31, 21 (Q3-Y22)Mar 31, 21 (Q4-Y21)
Total Income17,682.3114,246.7019,221.68
Total Expenses17014.0514061.4518786.35
PBT /(Loss)472.84277.70310.21
Total Tax /(credit)(33.35)2.42(8.85)
PAT /(Loss)506.19275.28319.06
*figures are in Crores

(II) Audited Consolidated Financial Result details for the Year Ended :

The company has reported, a consolidated Total Income of ₹67,059.50 crore in the financial year ended on March 31, 2022 as against ₹71,320.01 crore for the financial year ended on Mar 31, 2021, decreased by 5.97%.

The company has posted a consolidated Net Profit of ₹1,326.93 crore in the financial year ended on March 31, 2022 as against ₹1,360.87 crore for the financial year ended on March 31, 2021. The PAT surges down by 2.49%.

The status of the EPS of the company stood at ₹6.48 as on March 31, 2022 compared to the previous year ended on March 31, 2021 which was ₹6.73, down by 3.71%.

₹*Mar 31, 2022 (FY22)Mar 31, 2021 (FY21)
Total Income67,059.5071,320.01
Total Expenses66016.1370220.88
PBT /(Loss)1302.751354.28
Total Tax /(credit)(24.18)(6.59)
PAT /(Loss)1,326.931,360.87
*figures are in Crores
Market Times

(III) Key Highlights about the Performance :

  • Solvency Ratio : 176% in FY22 and 201% in FY21
  • Individual WRP (The sum of first year premium received during the year and 10% of single premiums including top-up premiums) growth of 16% resulting in industry market share expansion by 10 bps to 9.3%
  • 47% growth in protection new business premium; 24% growth in annuity business
  • 19.0% Operating RoEV [Operating Return on EV is the ratio of EVOP (Embedded Value Operating Profit) for any given period to the EV at the beginning of that period] (pre-EMR); Consolidated EV at ₹32,958 crore
  • AUM crossed ₹ 2 trillion mark, clocking 17% yoy growth
  • PAT at ₹ 1,208 crore; Proposed Final Dividend of ₹ 1.70 per share
  • 22% growth in VNB, NBM at 27.4%
  • covered 54 million lives in FY22, registering an increase of 36% over FY21. We settled close to 3.9 lakh claims during FY22. Gross and net claims were at ₹5,804 crore and ₹ 4,328 crore respectively for FY22. As on 31st March 2022, we carry reserves of ₹55 crore into FY23 as a prudent measure towards Covid.
  • New business margin for FY22 was 27.4%, vs 26.1% for FY21. Further, we delivered a value of new business for FY22 of ₹2,675 crore, 22% higher than FY21
  • Amongst top 2 in terms of Overall New Business and individual new business segment in private sector with market share at 21.0% and 14.8% respectively; Ranked #1 within group new business segment in private sector with market share of 27.9%

Shares of HDFC Life Insurance Company Limited was last trading in BSE at ₹ 540.25 as compared to the previous close of ₹ 554.05. The total number of shares traded during the day was 73130 in over 2721 trades.

The stock of HDFC Life Insurance Company last hit in BSE,

  • Intraday High of ₹ 551.30
  • Intraday low of ₹ 536.15