SBI Life Gazes Into A New Long-Term Regime — Yes Securities Maintains 'Buy' After Q3 Results; Sees 25% Upside

The brokerage maintains ‘Buy’ rating on SBI Life with a revised price target of Rs 1920..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.SBI Life Insurance Company Ltd.'s growth improved in Q3, with management guiding for robust agency channel growth: New business APE grew 28.8%/13.2% QoQ/YoY. For Q3, Banca channel grew 9.1% YoY whereas the Agency channel jumped 23.2% YoY. For FY25, individual APE growth is expected to be 14% whereas overall APE growth is expected to be 11%. Overall APE growth is slower than individual APE growth due to slowdown in the group fund business. The overall growth guidance is 15-17% in the medium term. With the kind of base the company has, 10% growth going forward from the Banca channel is satisfactory, as per management. The agency channel is expected to grow at 30% plus in the medium term. Management is confident of this growth since the company is not dependent on large agents, which have to be pursued via high commission payouts..Click on the attachment to read the full report:.Kotak Mahindra, RBL Bank, SBI Life, Indian Hotels, ICICI Lombard, Metro Brands Q3 Review — HDFC 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.

SBI Life Gazes Into A New Long-Term Regime — Yes Securities Maintains 'Buy' After Q3 Results; Sees 25% Upside

Agency channel expected to drive growth going forward, says the brokerage.

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