LIC Q3 Review: Yes Securities Maintains 'Buy' On The Stock, Revises Target Price, Sees 23% Upside — Here's Why

LIC's total annual premium equivalent has de-grown -24.4% YoY and -39.6% QoQ to Rs 99.5 billion in Q3 FY25. Individual Non-Par segment was the only broad segment to grow at 18% YoY, driven by ULIP, which nearly tripled YoY, up 198.5%. .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..Yes Securities Report.VNB margin - Calculated value of new business margin improved on sequential basis as Life Insurance Corporation of India redesigns products, adjusts commission and continues to enhance product mix: The VNB margin for Q3 FY25 was 19.4%, down -65bps YoY but up 149 bps QoQ. The VNB margin for 9M FY25 was 17.1% compared with 16.6% in 9M FY24, up 50bps YoY. Change of product design and change in product mix were the key factors that led to the 50 bps expansion in VNB margin on YoY basis. Mix of business has been an important factor with rising share of Non-Par business having a positive impact. The decline in risk free rate has had a negative impact of 210 bps on margin, whereas product mix has had a positive 240 bps impact. With regard to product design, there has been a revision of premium rates on some products but not where the company already had a good margin. Apart from changes to product design, commission rates have also been realigned.Click on the attachment to read the full report:.Somany Ceramics Q3 Review — Benign Show As Expected, Lucrative Valuations Drives 'Buy', Says Yes Securities .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.

LIC Q3 Review: Yes Securities Maintains 'Buy' On The Stock, Revises Target Price, Sees 23% Upside — Here's Why

Yes Securities maintains a recently assigned Buy rating with a revised price target of Rs 1000

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