LIC Q4 Result Review: Brokerages Remain Bullish; Citi Sees 84% Upside — Check Target Price

Shares of Life Insurance Corporation of India (LIC) are in focus today, May 22 after declaration of quarterly results for the fiscal year 2025-26. Brokerages primarily gave positive reveiw on the state-run insurance company's earnings citing strong margins and improving product mix.

LIC reported a 23.2% year-on-year increase in its net profit for the fourth quarter of FY26, according to a regulatory filing on Thursday. The insurance giant posted a consolidated bottom-line of Rs 23,420 crore, compared to Rs 19,013 crore in the year-ago period. Net premium income rose 11.6% to Rs. 1.7 lakh crore from Rs. 1.5 lakh crore in the corresponding quarter of the last year. 

LIC also declared a final dividend of Rs 10 per per equity share of Rs 10 each. Record date to determine the eligibility of shareholders for the payout has been set as June 25, 2026. 

ALSO READ: LIC Dividend: Insurer Declares Rs 20/Share Dividend, But There's A Bonus Issue Catch; Check Record Date

Here's What Brokerages Say -

Highlighting the Q4 show, Citi mainatined a 'Buy' rating on the stock, while hiking the target price to Rs 1,475, a 84.3% upside from its closing price. Calling margin expansion a 'positive surprise', Macquarie retained 'Outperform' coverage at a target price of Rs 1,100, marking a 37.4% upside. Bernstein too, maintained 'Outperform' at a target price of 940, a 17.4% upside. The brokerage highlighted margin uplift in FY26 led by product mix.

Citi on LIC

• Maintain 'Buy'  and hikes target price  to Rs 1475.
• Strong operational performance
• Persistency-led releases from par
• Valuation remains benign
• Visibility on promoter holding structure is a key overhang

Macquarie on LIC

• Maintain 'Outperform' with target price  of Rs 1100
• Strong margin expansion delivers positive surprise
• Q4FY26: APE growth remains strong
• Improving product mix drives VNB margin higher
• RoEV improving steadily; valuation support remains intact

Bernstein on LIC

• Maintain Outperform with target price of Rs 940
• Q4FY26 - Good growth on top-line and bottomline
• Insurer saw continued margin uplift in FY26 aided by product mix shift (non-par) and favorable yield curve movements
• Management stated that margins could converge toward private peers level in medium-term, though acknowledged it will be a gradual process

ALSO READ: LIC Bonus Issue: Insurer Sets Record Date For 1:1 Allotment Of Additional Shares; Check Record Date

Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.