# SBI Life Insurance Company (SBILIFE.NSE)

Canonical: https://gigainvestors.com/s/SBILIFE.NSE

Analysis as of: 2026-10-16T07:33:24.255Z. Financial observations: FY2016–FY2026.

Listing currency: INR. Reporting currency: INR.

## Verdict

A wonderful business

Quality tests for Buy: pass (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: INR 1,661.80 per share; close as of 2026-10-15.

## Checklist

### understandable: pass

- Financial history: 10 years

- Profitable years in the last ten: 10

- Required profitable years: 8

- Return on common equity variation (informational): 0.13×

Chart: Net income; fiscal year observations.

- FY2017: INR 9.6B

- FY2018: INR 12B

- FY2019: INR 13B

- FY2020: INR 14B

- FY2021: INR 15B

- FY2022: INR 15B

- FY2023: INR 17B

- FY2024: INR 19B

- FY2025: INR 24B

- FY2026: INR 25B

### moat: pass

- Common book per share

- Parent-total proxy for preferred equity and common earnings

- Bank / P&C ROTE, median of available years: 14.1%

- Required median return: 10.0%

- Return uses tangible common equity: No

- Bank ROTE, second-lowest year: 12.9%

- Years with reported combined ratio: 0

Chart: Return on common equity; fiscal year observations.

- FY2017: 17.2%

- FY2018: 17.6%

- FY2019: 17.5%

- FY2020: 16.3%

- FY2021: 14.0%

- FY2022: 13.0%

- FY2023: 13.2%

- FY2024: 12.7%

- FY2025: 14.2%

- FY2026: 12.9%

### economics: pass

- Common book per share

- Parent-total proxy for preferred equity and common earnings

- Book value per share + reinvested dividends, annualized return: 17.2%

- Book return interval: 10 years

- Starting book value per share: INR 47.33

- Ending book value per share: INR 190.24

Chart: Annual book + dividend return; fiscal year observations.

- FY2017: 19.8%

- FY2018: 20.3%

- FY2019: 19.1%

- FY2020: 18.0%

- FY2021: 19.0%

- FY2022: 14.1%

- FY2023: 15.8%

- FY2024: 16.5%

- FY2025: 15.7%

- FY2026: 13.9%

### management: pass

- Common book per share

- Parent-total proxy for preferred equity and common earnings

- Unreported buybacks treated as zero; retained-earnings test is conservative

- Diluted shares, 10-year annual growth: 0.0%

- Diluted shares, 5-year annual growth: 0.1%

- Share growth excluding flagged crisis recapitalisations: 0.0%

- Five-year share growth excluding flagged crisis recapitalisations: 0.1%

- Flagged crisis recapitalisations: 0

- Book created / earnings retained after dividends and buybacks: 1.01×

- Book value created per share: INR 142.91

- Earnings retained per share after dividends and buybacks: INR 141.13

Chart: Shares (first year = 100); fiscal year observations.

- FY2016: 100

- FY2017: 100

- FY2018: 100

- FY2019: 100

- FY2020: 100

- FY2021: 100

- FY2022: 100

- FY2023: 100

- FY2024: 100

- FY2025: 100

- FY2026: 100

### accounting: pass

- Financial accounting warning count: 0

- Loans, annualized growth: 29.4%

- Known restatement years: 0

## Holders

## Price story

Up 21% since Oct 2023 · net income +2.4%

Story as of 2026-10-16T09:59:56.021Z; price observation 2026-10-15.

### Net income · FY2026

net income +2.4%; source https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/; observed 2026-10-16.

- FY2017: INR 9.6B 

- FY2018: INR 12B 

- FY2019: INR 13B 

- FY2020: INR 14B 

- FY2021: INR 15B 

- FY2022: INR 15B 

- FY2023: INR 17B 

- FY2024: INR 19B 

- FY2025: INR 24B 

- FY2026: INR 25B 

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in life insurance; annual sales are INR 1.1 trillion.

- Source: https://www.screener.in/company/SBILIFE/ (filed 2026-10-16T07:33:24.255Z); FY2026: revenue 1123150000000.

### Why customers stay

It earns 14.1% on shareholders’ money, excluding intangible assets.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:33:24.255Z); 10-year return on tangible equity observations [[2017,0.17201008645533142],[2018,0.17616421568627452],[2019,0.1751583949313622],[2020,0.16264440123527393],[2021,0.14],[2022,0.12958182756840475],[2023,0.1321687202335228],[2024,0.1270311242286021],[2025,0.14208419193405947],[2026,0.12942994865346327]]; median 0.14104209596702974. ROIC follows the displayed moat series; financial companies use return on tangible equity.

### Where the cash goes

Paid dividends in 9 of 9 years.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:33:24.255Z); Dividend observations: [[2017,1200000000],[2018,1500000000],[2019,2000000000],[2020,2000000000],[2022,2500000000],[2023,4500000000],[2024,2700000000],[2025,2710000000],[2026,2710000000]]. Zero only counted when supported by a complete cash-flow statement.

### What the price says

The price is 1.5 times annual sales.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:33:24.255Z); Closing price 1661.8 INR; reporting-to-trading FX 1; FY2026 annual sales per share 1119.486838675709; price multiple 1.4844301358342162. FY2026 cash earnings/share 23.921723837614756. Closing-price date 2026-10-15.

## Monthly share-price history (INR per share)

- 2017-11: INR 654.90 per share

- 2017-12: INR 695.35 per share

- 2018-01: INR 660.65 per share

- 2018-02: INR 694.50 per share

- 2018-03: INR 678.25 per share

- 2018-04: INR 743.10 per share

- 2018-05: INR 689.80 per share

- 2018-06: INR 674.35 per share

- 2018-07: INR 686.00 per share

- 2018-08: INR 672.40 per share

- 2018-09: INR 511.60 per share

- 2018-10: INR 560.40 per share

- 2018-11: INR 571.40 per share

- 2018-12: INR 597.85 per share

- 2019-01: INR 595.00 per share

- 2019-02: INR 578.55 per share

- 2019-03: INR 583.40 per share

- 2019-04: INR 639.85 per share

- 2019-05: INR 694.25 per share

- 2019-06: INR 723.70 per share

- 2019-07: INR 797.55 per share

- 2019-08: INR 838.70 per share

- 2019-09: INR 846.40 per share

- 2019-10: INR 991.50 per share

- 2019-11: INR 960.05 per share

- 2019-12: INR 961.60 per share

- 2020-01: INR 994.10 per share

- 2020-02: INR 890.40 per share

- 2020-03: INR 641.00 per share

- 2020-04: INR 726.85 per share

- 2020-05: INR 768.65 per share

- 2020-06: INR 806.45 per share

- 2020-07: INR 912.85 per share

- 2020-08: INR 827.75 per share

- 2020-09: INR 811.45 per share

- 2020-10: INR 769.15 per share

- 2020-11: INR 846.05 per share

- 2020-12: INR 904.25 per share

- 2021-01: INR 864.45 per share

- 2021-02: INR 866.90 per share

- 2021-03: INR 880.85 per share

- 2021-04: INR 928.70 per share

- 2021-05: INR 975.65 per share

- 2021-06: INR 1,008.15 per share

- 2021-07: INR 1,098.60 per share

- 2021-08: INR 1,192.05 per share

- 2021-09: INR 1,215.10 per share

- 2021-10: INR 1,145.55 per share

- 2021-11: INR 1,160.55 per share

- 2021-12: INR 1,196.00 per share

- 2022-01: INR 1,233.25 per share

- 2022-02: INR 1,060.15 per share

- 2022-03: INR 1,121.45 per share

- 2022-04: INR 1,105.50 per share

- 2022-05: INR 1,174.15 per share

- 2022-06: INR 1,081.60 per share

- 2022-07: INR 1,294.40 per share

- 2022-08: INR 1,329.10 per share

- 2022-09: INR 1,250.45 per share

- 2022-10: INR 1,265.95 per share

- 2022-11: INR 1,282.90 per share

- 2022-12: INR 1,231.30 per share

- 2023-01: INR 1,219.55 per share

- 2023-02: INR 1,121.00 per share

- 2023-03: INR 1,101.10 per share

- 2023-04: INR 1,140.10 per share

- 2023-05: INR 1,235.00 per share

- 2023-06: INR 1,306.90 per share

- 2023-07: INR 1,282.15 per share

- 2023-08: INR 1,292.55 per share

- 2023-09: INR 1,305.40 per share

- 2023-10: INR 1,367.85 per share

- 2023-11: INR 1,435.25 per share

- 2023-12: INR 1,432.60 per share

- 2024-01: INR 1,401.15 per share

- 2024-02: INR 1,552.55 per share

- 2024-03: INR 1,500.25 per share

- 2024-04: INR 1,436.55 per share

- 2024-05: INR 1,386.40 per share

- 2024-06: INR 1,491.95 per share

- 2024-07: INR 1,753.65 per share

- 2024-08: INR 1,850.30 per share

- 2024-09: INR 1,844.00 per share

- 2024-10: INR 1,622.15 per share

- 2024-11: INR 1,437.75 per share

- 2024-12: INR 1,390.40 per share

- 2025-01: INR 1,483.60 per share

- 2025-02: INR 1,430.50 per share

- 2025-03: INR 1,547.85 per share

- 2025-04: INR 1,765.80 per share

- 2025-05: INR 1,812.20 per share

- 2025-06: INR 1,838.30 per share

- 2025-07: INR 1,840.70 per share

- 2025-08: INR 1,805.50 per share

- 2025-09: INR 1,790.60 per share

- 2025-10: INR 1,955.70 per share

- 2025-11: INR 1,966.00 per share

- 2025-12: INR 2,034.90 per share

- 2026-01: INR 1,998.50 per share

- 2026-02: INR 2,037.20 per share

- 2026-03: INR 1,777.30 per share

- 2026-04: INR 1,819.00 per share

- 2026-05: INR 1,830.10 per share

- 2026-06: INR 1,765.70 per share

- 2026-07: INR 1,882.00 per share

- 2026-08: INR 1,740.50 per share

- 2026-09: INR 1,696.40 per share

- 2026-10: INR 1,661.80 per share

## Annual estimated value (INR per share)

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.
← Companies

SBI Life Insurance Company

SBILIFE · NSE

Nifty 50

A wonderful business

Passes the quality tests.

Share price
INR 1,661.80
Quality tests
Pass
Annual history
12 years
Market value
$18B

The business

How it makes money
Why customers stay
Where the cash goes
What the price says

1. Is this a good business?

Evidence only; not required for Buy

Profits were positive in 10 years (at least 8 needed).

10y median
INR 15B
Worst year
INR 9.6B
Latest · 2026
INR 25B

Earned a median 14.1% on equity (minimum 10%).

10y median
14.1%
Worst year
12.7%
Latest · 2026
12.9%

Book value plus dividends grew 17.2% a year (minimum 7%).

10y median
17.3%
Worst year
13.9%
Latest · 2026
13.9%

Ordinary share growth was 0% over the full period and 0.1% over five years (either must be at most 2% a year).

11y median
100
Worst year
100
Latest · 2026
100

0 accounting warnings were found (none allowed).

accounting warnings
0
Passing bar
≤ 0

Profit record · pass 0 loss years in 10 (at most 2), three-year average earnings per share 22.53 INR.

Net incomeINR 25B
25B020172026
FY2017 · Net income: INR 9.6B; FY2018 · Net income: INR 12B; FY2019 · Net income: INR 13B; FY2020 · Net income: INR 14B; FY2021 · Net income: INR 15B; FY2022 · Net income: INR 15B; FY2023 · Net income: INR 17B; FY2024 · Net income: INR 19B; FY2025 · Net income: INR 24B; FY2026 · Net income: INR 25B
Net income
Book / shareINR 190.24
190.24020172026
FY2017 · Book / share: INR 55.52; FY2018 · Book / share: INR 65.28; FY2019 · Book / share: INR 75.76; FY2020 · Book / share: INR 87.43; FY2021 · Book / share: INR 104.00; FY2022 · Book / share: INR 116.14; FY2023 · Book / share: INR 130.00; FY2024 · Book / share: INR 148.80; FY2025 · Book / share: INR 169.40; FY2026 · Book / share: INR 190.24
Book / share
Dividend / shareINR 2.70
4.49020172026
FY2017 · Dividend / share: INR 1.20; FY2018 · Dividend / share: INR 1.50; FY2019 · Dividend / share: INR 2.00; FY2020 · Dividend / share: INR 2.00; FY2021 · Dividend / share: INR 0; FY2022 · Dividend / share: INR 2.50; FY2023 · Dividend / share: INR 4.49; FY2024 · Dividend / share: INR 2.69; FY2025 · Dividend / share: INR 2.70; FY2026 · Dividend / share: INR 2.70
Dividend / share
Return on equity12.9%
17.6%0.0%20172026
FY2017 · Return on equity: 17.2%; FY2018 · Return on equity: 17.6%; FY2019 · Return on equity: 17.5%; FY2020 · Return on equity: 16.3%; FY2021 · Return on equity: 14.0%; FY2022 · Return on equity: 13.0%; FY2023 · Return on equity: 13.2%; FY2024 · Return on equity: 12.7%; FY2025 · Return on equity: 14.2%; FY2026 · Return on equity: 12.9%
Return on equity
Diluted shares1.0B
1.0B020172026
FY2017 · Diluted shares: 1,000M; FY2018 · Diluted shares: 1.0B; FY2019 · Diluted shares: 1.0B; FY2020 · Diluted shares: 1.0B; FY2021 · Diluted shares: 1.0B; FY2022 · Diluted shares: 1.0B; FY2023 · Diluted shares: 1.0B; FY2024 · Diluted shares: 1.0B; FY2025 · Diluted shares: 1.0B; FY2026 · Diluted shares: 1.0B
Diluted shares
Prices 15 Oct 2026 · FY2026