ICICI Prudential Q3 VNB Margin Steady At 24.4%; Motilal Oswal Maintains 'Buy' — Check Target Price

In the longer term, ICICI Prudential’s profitability will be supported by higher volumes driven by GST exemption, increased traction of non-linked products, and improved product-level margins..NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .Motilal Oswal Report.ICICI Prudential Life Insurance Company Ltd.’s continued efforts toward product mix shift, increasing retail protection contribution and robust cost optimization measures have resulted in continued YoY expansion in VNB margin, despite the loss of input tax credit after GST exemption. In the longer term, the company’s profitability will be supported by higher volumes driven by GST exemption, increased traction of non-linked products, and improved product-level margins.The brokerage has maintained its APE growth estimates for FY26-28. However, have raised VNB margin assumption by 50bp/50bp/100bp for FY26/FY27/FY28 considering the Q3 FY26 performance. Motilal Oswal maintains Buy rating with a target price of Rs 800 (based on 1.7x FY28E enterprise value)..Click on the attachment to read the full report:.TCS Shares May Rally 36% Says Motilal Oswal After Q3 Results — Check Target Price.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

ICICI Prudential Q3 VNB Margin Steady At 24.4%; Motilal Oswal Maintains 'Buy' — Check Target Price

Motilal Oswal has maintained its APE growth estimates for FY26-28.

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