# HDFCLIFE (HDFCLIFE) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/hdfclife

## Current market snapshot

- Exchange: BSE
- Country: India
- Price: ₹557.5
- Change: -0.31%
- As of: 2026-10-13
- 1D return: +0.47%
- 5D return: +5.32%
- 1M return: +6.29%
- Latest complete quarter: fy27_q1

## Faxioms Analysis

_As of 2026-10-12_

### Technical Outlook

As of October 12, 2026, HDFCLIFE's daily technical setup shows a bullish trend with price above key moving averages and the Supertrend indicator, supported by a positive EMA slope. However, this short-term strength contrasts with a bearish trend on the monthly timeframe, where price is below all major averages and the Supertrend. Weekly indicators present a mixed picture, with price above the 20-day SMA but below other averages and the Supertrend, suggesting developing trend strength with an ADX of 20.23.

The stock is positioned near the upper end of its 20-day and 50-day ranges, at +84.9% and +86.1% respectively, but is near the lower end of its 252-day range at +18.1%. Recent market activity shows 5 events in 30 days, with 2 positive, 2 neutral, and 1 downside event. The nearest support is at ₹555.45 (0.68% below current price), while resistance is at ₹563.55 (0.77% above current price). A confirmed break above ₹563.55 could strengthen the bullish case, while a move below ₹555.45 may signal further weakness, especially if it coincides with a shift in daily trend indicators.

- Daily trend is bullish, but monthly trend is bearish, indicating conflicting timeframes.
- Daily trend strength is weak (ADX 16.65), while weekly trend strength is developing (ADX 20.23) and monthly trend is established (ADX 31.47).
- Stock is near the upper end of its short-term ranges (+84.9% on 20-day, +86.1% on 50-day) but near the lower end of its long-term range (+18.1% on 252-day).
- Nearest support is at ₹555.45 (-0.68%) and nearest resistance is at ₹563.55 (+0.77%).
- Confirmation of the bullish setup would be a sustained move above ₹563.55, while invalidation would occur on a break below ₹555.45.

- Doji
- Inside Bar
- Harami

### News Context

During the week ending October 12, 2026, HDFC Life Insurance Company was mentioned in market commentary as a potential stock pick. Separately, a report comparing Life Insurance Corporation (LIC) with private life insurers highlighted that while LIC saw faster growth in individual life insurance premiums in September 2026, private players, including HDFC Life and ICICI Prudential Life, experienced faster growth in total new business premiums for the same period. This indicates a competitive landscape for new business acquisition within the life insurance sector.

- On October 12, 2026, HDFC Life was identified as a stock to buy by a market commentary, which also provided price targets.
- In September 2026, HDFC Life was noted as a private insurer that grew faster in total new business premiums compared to LIC, although LIC outpaced private insurers in individual life insurance premium growth.
- A report published on October 9, 2026, discussed premium growth trends for LIC versus private life insurers, specifically mentioning HDFC Life's performance.

- [HDFC Life, Bank of Maharashtra, Fortis among top stocks to buy; check price targets](https://www.businesstoday.in/markets/stocks/story/hdfc-life-bank-of-maharashtra-fortis-among-top-stocks-to-buy-check-price-targets-560921-2026-10-12)
- [LIC vs private life insurers: Who saw faster premium growth in September 2026? What policy buyers should know | Mint](https://www.livemint.com/money/personal-finance/lic-vs-private-life-insurers-who-saw-faster-premium-growth-in-september-2026-what-policy-buyers-should-know-11791556813243.html)

### What Changed

As of October 12, 2026, HDFC Life Insurance Company remains listed on the BSE. Recent news highlights the company's inclusion in stock recommendations, with one report from October 12, 2026, mentioning HDFC Life alongside Bank of Maharashtra and Fortis Healthcare as potential stocks to buy, referencing unspecified price targets. Separately, a report from September 2026 discussed premium growth trends in the life insurance sector, noting that while LIC outpaced private insurers in individual policy growth, private players, including HDFC Life and ICICI Prudential Life, showed faster growth in total new business premiums. This indicates ongoing competitive dynamics within the Indian life insurance market.

- HDFC Life was mentioned in a stock recommendation report dated October 12, 2026, as a stock to consider buying.
- A September 2026 report indicated HDFC Life was among private insurers with faster growth in total new business premiums, compared to LIC's individual policy growth.
- HDFC Life Insurance Company is listed on the BSE.

- [HDFC Life, Bank of Maharashtra, Fortis among top stocks to buy; check price targets](https://www.businesstoday.in/markets/stocks/story/hdfc-life-bank-of-maharashtra-fortis-among-top-stocks-to-buy-check-price-targets-560921-2026-10-12)
- [LIC vs private life insurers: Who saw faster premium growth in September 2026? What policy buyers should know | Mint](https://www.livemint.com/money/personal-finance/lic-vs-private-life-insurers-who-saw-faster-premium-growth-in-september-2026-what-policy-buyers-should-know-11791556813243.html)

### Official Filings

HDFC Life Insurance Company Limited has confirmed the payment of annual interest on its unsecured non-convertible debentures. On October 9, 2026, the company disbursed ₹80.50 crore in interest to debenture holders for its ₹1,000 crore debentures (ISIN: INE795G08035), which carry an 8.05% coupon rate. This payment was made on the due date, fulfilling a regulatory requirement under SEBI Listing Regulations. Separately, the company has scheduled a board meeting for October 15, 2026, to review the unaudited financial results for the half-year ended September 30, 2026, and to consider a debt issuance for fund-raising purposes. Additionally, the company announced the grant of stock options and performance restricted stock units on September 29, 2026, under its 2025 schemes, with specific vesting schedules and exercise conditions.

- On October 9, 2026, HDFC Life Insurance Company Limited paid ₹80.50 crore in annual interest on its ₹1,000 crore unsecured non-convertible debentures (ISIN: INE795G08035) with an 8.05% coupon rate.
- A board meeting is scheduled for October 15, 2026, to approve unaudited financial results for the half-year ended September 30, 2026, and to consider a debt issuance.
- On September 29, 2026, the company approved the grant of 23,85,355 equity stock options at ₹531.60 per option and 11,05,140 performance restricted stock units at ₹10 per unit.
- The stock options and restricted stock units have a three-year vesting schedule: 30% on the first and second anniversaries, and 40% on the third anniversary.

- [Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal](https://nsearchives.nseindia.com/content/debt/WDM/HDFCLIFE2_09102026150632_Interest_Payment_Intimation.pdf)
- [Chapter VIII - Specifications related to ISIN for debt |SUBJECT: Chapter VIII - Specifications related to ISIN for debt](https://nsearchives.nseindia.com/content/debt/WDM/HDFCLIFE2_07102026190617_Half-yearly_disclosure_-_Statement_of_NCDs.pdf)
- [HDFC Life Insurance Company Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/HDFCLIFE2_06102026170537_Earnings_Call_Intimation__2_.pdf)
- [HDFC Life Insurance Company Limited has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_15574_WebXMLFile_20261006_184755541.xml)
- [Financial Results/Fund Raising |Meeting Date: 15-Oct-2026](https://nsearchives.nseindia.com/corporate/HDFCLIFE2_30092026173424_SEintimation.pdf)
- [HDFC Life Insurance Company Limited has informed the Exchange about Board Meeting to be held on 15-Oct-2026 to consider and approve the Half Yearly Unaudited Financial results of the Company for the period ended September 2026 and Fund raising. |SUBJECT: Board Meeting Intimation](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_15574_WebXMLFile_20260930_175654914.xml)
- [Board Meeting Intimation |Meeting Date: 15-Oct-2026](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_15574_WebXMLFile_20260930_175654914.xml)
- [HDFC Life Insurance Company Limited has informed the Exchange about Grant of Stock Options and Performance Restricted Stock Units |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/HDFCLIFE2_29092026173437_SEannouncement2909.pdf)
- [FOR QUARTER ENDING : 31-MAR-25](https://nsearchives.nseindia.com/corporate/xbrl/INVESTOR_DEBT_1427685_29042025041257_WEB.xml)
- [HDFC Life Insurance Company Limited has informed the Exchange about Action(s) taken or orders passed (sub-para 20) |SUBJECT: Actions initiated/taken or orders passed-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/AIATOP_15574_WebXMLFile_20260911_202702461.xml)

### Fundamentals

HDFC Life reported a sequential decrease in Gross Premium Income for Q1 FY2026-27, which stood at ₹17,232.29 crore, down from ₹26,463.66 crore in Q4 FY2025-26. This decline was observed across all premium types, including First Year Premium, Renewal Premium, and Single Premium. Net Premium Income also followed this trend, decreasing to ₹16,727.63 crore from ₹25,998.42 crore. A significant positive development was the substantial increase in Income From Investments Net, which rose to ₹16,685.48 crore in Q1 FY2026-27, a notable shift from a negative ₹6,487.58 crore in the prior quarter. This surge in investment income appears to have offset the decline in premium income, leading to a sequential increase in Net Profit to ₹611 crore in Q2 FY2026-27 from ₹497 crore in Q1 FY2026-27, with a corresponding rise in EPS to ₹2.81 from ₹2.31. The company's operating profit margin (OPM) also improved sequentially to 1.5% in Q2 FY2026-27 from 0.6% in Q1 FY2026-27.

Looking at longer-term trends, the company has shown compounded sales growth of 12% over the last 3 years and compounded profit growth of 12% over the same period. Return on Equity has remained stable at 11% over the last three years. However, the stock price has seen a CAGR of -4% over the last 3 years and -26% over the last year, indicating a divergence between fundamental performance and market valuation. The balance sheet shows a steady increase in Total Liabilities, driven by 'Other Liabilities', while 'Borrowings' have also increased significantly from ₹950 crore in Mar 2024 to ₹2,950 crore in Mar 2025 and ₹3,099 crore in Mar 2026. Equity Capital has remained relatively stable, with Reserves showing consistent growth. The company's ROCE % has improved from 5.0% in Mar 2024 to an estimated 10.0% in Mar 2026.

The most important checkpoint for the next results will be the sustainability of the improved operating profit margin and the continued contribution from investment income, especially in light of the sequential decline in premium collections.

- Gross Premium Income decreased sequentially to ₹17,232.29 crore in Q1 FY2026-27.
- Net Profit increased sequentially to ₹611 crore in Q2 FY2026-27, supported by a significant rise in investment income.
- Borrowings have increased to ₹3,099 crore by Mar 2026, while ROCE % improved to an estimated 10.0% by Mar 2026.
- Monitor the sustainability of operating profit margin and investment income in the upcoming results.

### Bull Case

On October 12, 2026, HDFC Life Insurance Company (HDFCLIFE) on the BSE exhibited a bullish daily trend according to its technical indicators, including a positive EMA 20 slope of 5.77 and a SuperTrend direction classified as bullish. The company's market capitalization stood at ₹1,209,371,656,273.65, with a turnover of ₹1,512,878,000.0 on the trading day. Recent news highlights HDFC Life as a stock pick by some market observers and notes its faster growth in total new business premiums compared to some peers in September 2026, although LIC outpaced private insurers in individual life insurance premium growth for the same period.

- Daily technical indicators on October 12, 2026, showed a bullish trend for HDFCLIFE, with EMA 20 slope at 5.77 and SuperTrend direction as bullish.
- The company's market capitalization was ₹1,209,371,656,273.65 as of October 12, 2026.
- HDFC Life was identified as a stock pick in recent market commentary.
- In September 2026, HDFC Life showed faster growth in total new business premiums among private insurers.

- [HDFC Life, Bank of Maharashtra, Fortis among top stocks to buy; check price targets](https://www.businesstoday.in/markets/stocks/story/hdfc-life-bank-of-maharashtra-fortis-among-top-stocks-to-buy-check-price-targets-560921-2026-10-12)
- [LIC vs private life insurers: Who saw faster premium growth in September 2026? What policy buyers should know | Mint](https://www.livemint.com/money/personal-finance/lic-vs-private-life-insurers-who-saw-faster-premium-growth-in-september-2026-what-policy-buyers-should-know-11791556813243.html)
- [Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal](https://nsearchives.nseindia.com/content/debt/WDM/HDFCLIFE2_09102026150632_Interest_Payment_Intimation.pdf)
- [Chapter VIII - Specifications related to ISIN for debt |SUBJECT: Chapter VIII - Specifications related to ISIN for debt](https://nsearchives.nseindia.com/content/debt/WDM/HDFCLIFE2_07102026190617_Half-yearly_disclosure_-_Statement_of_NCDs.pdf)
- [HDFC Life Insurance Company Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/HDFCLIFE2_06102026170537_Earnings_Call_Intimation__2_.pdf)
- [HDFC Life Insurance Company Limited has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_15574_WebXMLFile_20261006_184755541.xml)
- [Financial Results/Fund Raising |Meeting Date: 15-Oct-2026](https://nsearchives.nseindia.com/corporate/HDFCLIFE2_30092026173424_SEintimation.pdf)
- [HDFC Life Insurance Company Limited has informed the Exchange about Board Meeting to be held on 15-Oct-2026 to consider and approve the Half Yearly Unaudited Financial results of the Company for the period ended September 2026 and Fund raising. |SUBJECT: Board Meeting Intimation](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_15574_WebXMLFile_20260930_175654914.xml)
- [Board Meeting Intimation |Meeting Date: 15-Oct-2026](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_15574_WebXMLFile_20260930_175654914.xml)
- [HDFC Life Insurance Company Limited has informed the Exchange about Grant of Stock Options and Performance Restricted Stock Units |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/HDFCLIFE2_29092026173437_SEannouncement2909.pdf)

### Bear Case

The company's technical indicators suggest a cautious outlook. The monthly trend analysis indicates a bearish supertrend direction, and the weekly trend also shows a bearish supertrend direction with negative slopes for both the 20-day and 50-day simple moving averages. Furthermore, the period returns show a significant year-to-date decline of -25.4% and a -25.2% return over the past year. The current drawdown stands at -31.3%, with a maximum drawdown of -36.9% observed historically. This indicates a notable decrease from recent peaks.

- Monthly trend shows a bearish supertrend direction.
- Weekly trend shows a bearish supertrend direction with negative SMA slopes.
- Year-to-date return is -25.4% as of 2026-10-12.
- Current drawdown is -31.3%.

- [HDFC Life, Bank of Maharashtra, Fortis among top stocks to buy; check price targets](https://www.businesstoday.in/markets/stocks/story/hdfc-life-bank-of-maharashtra-fortis-among-top-stocks-to-buy-check-price-targets-560921-2026-10-12)
- [LIC vs private life insurers: Who saw faster premium growth in September 2026? What policy buyers should know | Mint](https://www.livemint.com/money/personal-finance/lic-vs-private-life-insurers-who-saw-faster-premium-growth-in-september-2026-what-policy-buyers-should-know-11791556813243.html)
- [Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal](https://nsearchives.nseindia.com/content/debt/WDM/HDFCLIFE2_09102026150632_Interest_Payment_Intimation.pdf)
- [Chapter VIII - Specifications related to ISIN for debt |SUBJECT: Chapter VIII - Specifications related to ISIN for debt](https://nsearchives.nseindia.com/content/debt/WDM/HDFCLIFE2_07102026190617_Half-yearly_disclosure_-_Statement_of_NCDs.pdf)
- [HDFC Life Insurance Company Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/HDFCLIFE2_06102026170537_Earnings_Call_Intimation__2_.pdf)
- [HDFC Life Insurance Company Limited has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_15574_WebXMLFile_20261006_184755541.xml)
- [Financial Results/Fund Raising |Meeting Date: 15-Oct-2026](https://nsearchives.nseindia.com/corporate/HDFCLIFE2_30092026173424_SEintimation.pdf)
- [HDFC Life Insurance Company Limited has informed the Exchange about Board Meeting to be held on 15-Oct-2026 to consider and approve the Half Yearly Unaudited Financial results of the Company for the period ended September 2026 and Fund raising. |SUBJECT: Board Meeting Intimation](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_15574_WebXMLFile_20260930_175654914.xml)
- [Board Meeting Intimation |Meeting Date: 15-Oct-2026](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_15574_WebXMLFile_20260930_175654914.xml)
- [HDFC Life Insurance Company Limited has informed the Exchange about Grant of Stock Options and Performance Restricted Stock Units |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/HDFCLIFE2_29092026173437_SEannouncement2909.pdf)

### FAQs

**What were HDFC Life's recent interest and principal payment obligations?**

On October 9, 2026, HDFC Life Insurance Company Limited paid ₹80.50 crore in annual interest on its ₹1,000 crore unsecured non-convertible debentures. These debentures have an 8.05% coupon rate and were due for payment on October 9, 2026.

**What is HDFC Life's current technical trend direction based on daily and weekly indicators?**

As of the daily trend analysis on October 12, 2026, HDFC Life's SuperTrend direction is indicated as bullish. However, the weekly trend analysis shows a bearish SuperTrend direction.

**What are HDFC Life's nearest support and resistance levels?**

The nearest support level for HDFC Life is at ₹555.45, which is 0.68% below the current price. The nearest resistance level is at ₹563.55, which is 0.77% above the current price.

**When will HDFC Life discuss its H1 FY27 financial performance?**

HDFC Life Insurance Company Limited is scheduled to host an earnings conference call on Thursday, October 15, 2026, at 16:15 IST to discuss its financial performance for H1 FY27.

- [HDFC Life, Bank of Maharashtra, Fortis among top stocks to buy; check price targets](https://www.businesstoday.in/markets/stocks/story/hdfc-life-bank-of-maharashtra-fortis-among-top-stocks-to-buy-check-price-targets-560921-2026-10-12)
- [LIC vs private life insurers: Who saw faster premium growth in September 2026? What policy buyers should know | Mint](https://www.livemint.com/money/personal-finance/lic-vs-private-life-insurers-who-saw-faster-premium-growth-in-september-2026-what-policy-buyers-should-know-11791556813243.html)
- [Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal](https://nsearchives.nseindia.com/content/debt/WDM/HDFCLIFE2_09102026150632_Interest_Payment_Intimation.pdf)
- [Chapter VIII - Specifications related to ISIN for debt |SUBJECT: Chapter VIII - Specifications related to ISIN for debt](https://nsearchives.nseindia.com/content/debt/WDM/HDFCLIFE2_07102026190617_Half-yearly_disclosure_-_Statement_of_NCDs.pdf)
- [HDFC Life Insurance Company Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/HDFCLIFE2_06102026170537_Earnings_Call_Intimation__2_.pdf)
- [HDFC Life Insurance Company Limited has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_15574_WebXMLFile_20261006_184755541.xml)
- [Financial Results/Fund Raising |Meeting Date: 15-Oct-2026](https://nsearchives.nseindia.com/corporate/HDFCLIFE2_30092026173424_SEintimation.pdf)
- [HDFC Life Insurance Company Limited has informed the Exchange about Board Meeting to be held on 15-Oct-2026 to consider and approve the Half Yearly Unaudited Financial results of the Company for the period ended September 2026 and Fund raising. |SUBJECT: Board Meeting Intimation](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_15574_WebXMLFile_20260930_175654914.xml)
- [Board Meeting Intimation |Meeting Date: 15-Oct-2026](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_15574_WebXMLFile_20260930_175654914.xml)
- [HDFC Life Insurance Company Limited has informed the Exchange about Grant of Stock Options and Performance Restricted Stock Units |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/HDFCLIFE2_29092026173437_SEannouncement2909.pdf)
## Technical analytics

- As of: 2026-10-13
- Daily trend: Weak Uptrend
- Weekly trend: Weak Uptrend
- Pivot point: ₹555.45
- Risk regime: Higher Price Risk

### Support levels
- 547.60625
- 543
- 531.2937499999999

### Resistance levels
- 565.0625
- 626.39375
- 647.25

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +0.47% |
| return_10 | +5.32% |
| return_1m | +5.52% |
| return_1y | -25.16% |
| return_20 | +6.29% |
| return_3m | -1.49% |
| return_5 | +5.32% |
| return_6m | -7.43% |
| return_since_start | -9.39% |
| return_ytd | -25.44% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | high_risk |
| label | Higher price risk |
| summary | Recent drawdown or price variability is materially high and may lead to larger short-term outcomes. |
| maximum_drawdown | -36.88% |
| annualized_volatility | +23.33% |

## Quarterly financials

- Latest complete quarter: fy27_q1

# Year-on-year premium and profit growth as investment income rebounds

HDFC Life’s first quarter of FY2026-27 posted higher premium income and net profit compared with the same quarter a year earlier. Profit also rose from the previous quarter, helped by a sharp rebound in investment income. The solvency ratio improved from the prior quarter, though it remained below the year-ago level, while persistency edged lower.

## Premium income rises year-on-year but remains below the seasonally higher fourth quarter

Gross Premium Income increased 15.75% year-on-year to ₹17,232.29 crore, with gains across all three components:

- First Year Premium rose 7.3% to ₹2,746.34 crore
- Renewal Premium rose 18.76% to ₹9,033.26 crore
- Single Premium rose 15.48% to ₹5,452.69 crore

All components declined from Q4 FY2025-26, a pattern consistent with the prior year when Q1 was lower than the preceding Q4.

Net Premium Income (after reinsurance ceded) followed a similar trajectory, rising 15.05% year-on-year to ₹16,727.63 crore but declining 35.66% from the previous quarter.

## Profitability improves year-on-year and sequentially

Profit Before Tax increased 11.82% year-on-year to ₹630.19 crore, and Profit After Tax increased 11.46% to ₹611.19 crore.

On a sequential basis, both measures increased despite the lower premium income. Profit Before Tax rose from ₹489.70 crore in Q4 FY2025-26, and Profit After Tax rose from ₹497.49 crore. The improvement was driven by a large swing in investment income, which offset the decline in premiums.

## Expenses of Management

Expenses of Management decreased 21% sequentially to ₹3,900.03 crore but increased 19.18% from the same quarter a year earlier.

Separately, other expense categories also recorded sequential declines: Commission fell 24.08% to ₹2,111.19 crore, Operating Expenses fell 17.03% to ₹1,785.38 crore, and Employee Remuneration fell 4.75% to ₹921.92 crore.

## Investment income swings sharply

Income From Investments Net swung from a loss of ₹6,487.58 crore in Q4 FY2025-26 to a gain of ₹16,685.48 crore in Q1 FY2026-27. The more stable Investment Income line (interest and dividends) stood at ₹345.40 crore, up 7.44% from the year-ago quarter.

## Solvency and persistency

The Solvency Ratio improved to 1.85 from 1.77 in Q4 FY2025-26 but was below the 1.92 reported in Q1 FY2025-26. The 13th-month persistency ratio declined to 80.03%, compared with 81.63% sequentially and 82.71% a year earlier.

## Key Takeaway

HDFC Life delivered year-on-year growth in premiums and profits during the first quarter. Profit also rose from the prior quarter despite a typical seasonal drop in premium income, as a sharp rebound in net investment income drove the bottom-line improvement. The solvency ratio strengthened from the previous quarter, while persistency edged lower. The sizeable swing in net investment income highlights the impact of investment performance on reported earnings.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q1
- As of: 2026-06-30
- Promoter holding: +50.54%
- FII holding: +19.26%
- DII holding: +20.19%
- Mutual fund holding: +16.57%
- Retail holding: +3.63%
- Promoter pledged: +0.00%

### Major reported shareholders

- HDFC BANK LIMITED — +50.54%
- ICICI Prudential Mutual Fund — +4.48%
- SBI Mutual Fund — +4.23%
- Exide Industries Limited — +4.01%
- CAMAS INVESTMENTS PTE. LTD. — +1.68%
- Nippon Life Mutual Fund — +1.37%
- NPS TRUST — +1.18%
- GOVERNMENT PENSION FUND GLOBAL — +1.14%
- Quant Mutual Fund — +1.06%
- FOREIGN INSTITUTIONAL INVESTORS — +0.01% (Other)

## Official filings

- 2026-10-09 — Generic Announcement: HDFC Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/HDFCLIFE2_09102026150632_Interest_Payment_Intimation.pdf)
- 2026-10-07 — Generic Announcement: HDFC Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/HDFCLIFE2_07102026190617_Half-yearly_disclosure_-_Statement_of_NCDs.pdf)
- 2026-10-06 — Generic Announcement: HDFC Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HDFCLIFE2_06102026170537_Earnings_Call_Intimation__2_.pdf)
- 2026-10-06 — Generic Announcement: HDFC Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_15574_WebXMLFile_20261006_184755541.xml)
- 2026-09-30 — Board Meeting Notice: HDFC Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HDFCLIFE2_30092026173424_SEintimation.pdf)
- 2026-09-30 — Generic Announcement: HDFC Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_15574_WebXMLFile_20260930_175654914.xml)
- 2026-09-30 — Board Meeting Notice: HDFC Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_15574_WebXMLFile_20260930_175654914.xml)
- 2026-09-29 — Generic Announcement: HDFC Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HDFCLIFE2_29092026173437_SEannouncement2909.pdf)
- 2026-09-11 — Official Filing: HDFC Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INVESTOR_DEBT_1427685_29042025041257_WEB.xml)
- 2026-09-11 — Generic Announcement: HDFC Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/AIATOP_15574_WebXMLFile_20260911_202702461.xml)
- 2026-09-11 — Generic Announcement: HDFC Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HDFCLIFE2_11092026203642_GSTOrder.pdf)
- 2026-09-03 — Generic Announcement: HDFC Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/HDFCLIFE2_03092026171035_Record_Date_Intimation_-_NCDs__2_.pdf)
- 2026-08-31 — Generic Announcement: HDFC Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HDFCLIFE2_31082026172241_SE_Intimation_-_Analyst_Meet.pdf)
- 2026-08-31 — Generic Announcement: HDFC Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_15574_WebXMLFile_20260831_170637334.xml)
- 2026-08-26 — Generic Announcement: HDFC Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_15574_WebXMLFile_20260826_185046877.xml)
- 2026-08-26 — Generic Announcement: HDFC Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_15574_WebXMLFile_20260826_184946853.xml)
- 2026-08-26 — Generic Announcement: HDFC Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HDFCLIFE2_26082026190720_ESOPAllotment.pdf)
- 2026-08-19 — Management Change: HDFC Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HDFCLIFE2_19082026164631_SE1908.pdf)
- 2026-08-17 — Generic Announcement: HDFC Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_15574_WebXMLFile_20260817_170407845.xml)
- 2026-08-04 — Generic Announcement: HDFC Life Insurance Company Limited senior management will participate in investor conferences on August 14, 2026 (Emkay Confluence 2026 in Mumbai), August 19, 2026 (Motilal Oswal 22nd Annual Global Investor Conference 2026), and August 28, 2026 (Morgan Stanley: India Financials Investors Group Trip). The schedule is subject to change, and the investor presentation is available on the company's website. — [Official attachment](https://nsearchives.nseindia.com/corporate/HDFCLIFE2_04082026161337_SE_Announcement_-_Analyst_Meet_Intimation.pdf)
- 2026-07-22 — Official Filing: HDFC Life Insurance Company Limited hosted an Earnings Conference Call on July 15, 2026, to discuss its Q1 FY27 financial performance. The company reported a 9% overall APE growth, with individual APE and WRP growing by 7% and 8% respectively. Value of New Business (VNB) grew by 9% to INR 879 crores, with new business margins at 25%. Assets under management exceeded INR 4 trillion, and the solvency ratio improved to 185%. Profit after tax for the quarter was INR 611 crores, a 12% year-on-year increase.
- 2026-07-16 — Official Filing: HDFC Life Insurance Company Limited held its 26th Annual General Meeting on July 16, 2026, where all resolutions presented to members were passed with the required majority. The meeting, conducted via video-conferencing, included the adoption of financial statements for the year ended March 31, 2026, and the declaration of a dividend of ₹2.10 per equity share. Key appointments and re-appointments, including directors and auditors, were also approved, along with related party transactions with HDFC Bank Limited.
- 2026-07-15 — Official Filing: HDFC Life Insurance Company Limited's Board of Directors approved the un-audited standalone and consolidated financial results for the quarter ended June 30, 2026, during a meeting held on July 15, 2026. The company also provided limited review reports for these financial results as required by SEBI regulations.
- 2026-07-15 — Official Filing: HDFC Life Insurance Company Limited reported no deviation or variation in the utilization of approximately Rs. 1,000 crore raised through a preferential issue as of June 30, 2026. The statement, reviewed by the Audit Committee on July 15, 2026, confirms that funds were used in accordance with the stated objects. The funds were raised on June 16, 2026.

## News and market events

- 2026-10-12 — BUSINESSTODAY: **HDFC Life, Bank of Maharashtra, Fortis among top stocks to buy; check price targets** — Stocks to buy, Stock picks, Stocks to trade, trading views, Mayur Uniquoters, Bank of Maharashtra, HDFC Life Insurance Company, Fortis Healthcare, Mayur Uniquoters shares, Bank of Maharashtra shares, HDFC Life shares, Fortis Healthcare shares, Mayur Uniquoters share price, Bank of Maharashtra share price, HDFC Life share price, Fortis Healthcare share price, Mayur Uniquoters stock price, Bank of Maharashtra stock price, HDFC Life stock price, Fortis Healthcare stock price, Mayur Uniquoters target price, Bank of Maharashtra target price, HDFC Life target price, Fortis Healthcare target price — [Source](https://www.businesstoday.in/markets/stocks/story/hdfc-life-bank-of-maharashtra-fortis-among-top-stocks-to-buy-check-price-targets-560921-2026-10-12)
- 2026-10-09 — Mint: **LIC vs private life insurers: Who saw faster premium growth in September 2026? What policy buyers should know | Mint** — LIC outpaced private insurers in individual life insurance premium growth in September 2026, but private players grew faster in total new business premiums. HDFC Life and ICICI Prudential Life stood out. What do these trends mean for policy buyers? — [Source](https://www.livemint.com/money/personal-finance/lic-vs-private-life-insurers-who-saw-faster-premium-growth-in-september-2026-what-policy-buyers-should-know-11791556813243.html)
- 2026-10-05 — The Hindu: **Gap-Up fades as IT and HDFC Bank drag Nifty to near-flat; crude, Rupee weigh** — Bank Nifty, which had surged over 600 points in early trade, surrendered nearly all its gains through the session — [Source](https://www.thehindubusinessline.com/markets/gap-up-fades-as-it-and-hdfc-bank-drag-nifty-to-near-flat-crude-rupee-weigh/article71546207.ece)
- 2026-09-28 — Mint: **SBI Life, HDFC Life, ICICI Prudential: Should you invest in insurance stocks amid IRDAI new reforms? Experts suggestion** — Prathamesh Kadival, Research Analyst at Bonanza, believes that India's insurance sector is entering an important phase as IRDAI pushes for lower costs, greater transparency and better value for policyholders — [Source](https://www.livemint.com/market/stock-market-news/sbi-life-hdfc-life-icici-prudential-should-you-invest-in-insurance-stocks-amid-irdai-new-reforms-experts-suggestion-11790586686269.html)
- 2026-09-28 — Economic Times: **Trouble continues: Turtlemint, PB Fintech, other insurance stocks drop up to 38% in 3 days. What are analysts saying?** — Insurance stocks including PB Fintech, Turtlemint, ICICI Lombard, HDFC Life and SBI Life face selling pressure as proposed IRDAI distribution reforms raise concerns over commissions, revenue and earnings. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/trouble-continues-turtlemint-pb-fintech-other-insurance-stocks-drop-up-to-38-in-3-days-what-are-analysts-saying/articleshow/134534271.cms)
- 2026-09-26 — The Hindu: **PB Fintech, HDFC Life, SBI Life: What IRDAI Caps Mean** — IRDAI’s proposed commission and expense caps could reshape insurance economics. Here is what investors should know before buying affected stocks. — [Source](https://www.thehindubusinessline.com/portfolio/stock-fundamental-analysis-india/pb-fintech-hdfc-life-sbi-life-irdai-commission-caps/article71512136.ece)
- 2026-09-26 — REDIFF.COM: **Longest Nifty Losing Streak Since Covid** — 'India is collateral damage. There is no way that foreign investors are going to bring money in India despite our yields also going up.' — [Source](https://www.rediff.com/business/report/longest-nifty-losing-streak-since-covid/20260926.htm)
- 2026-09-25 — BUSINESSTODAY: **Sensex, Nifty extend losing streak to seventh week, longest ever; what's next?** — Sensex, Nifty, stock market, Indian stock market, share market, Nifty 50, BSE Sensex, weekly market performance, seven-week losing streak, longest losing streak, Friday market, realty stocks, auto stocks, FMCG stocks, IT stocks, midcap stocks, smallcap stocks, foreign fund outflows, crude oil prices, global yields, Nifty outlook, market outlook — [Source](https://www.businesstoday.in/markets/stocks/story/sensex-nifty-extend-losing-streak-to-seventh-week-longest-ever-whats-next-557889-2026-09-25)
- 2026-09-25 — BUSINESSTODAY: **SBI Life, Max Fin, HDFC Life, LIC share price targets: IRDAI may need to revisit proposed cap, says Systematix** — SBI Life share price, Max Financial share price, HDFC Life share price, LIC share price, insurance stocks, life insurance stocks — [Source](https://www.businesstoday.in/markets/stocks/story/sbi-life-max-fin-hdfc-life-lic-share-price-targets-irdai-may-need-to-revisit-proposed-cap-says-systematix-557757-2026-09-25)
- 2026-09-24 — Economic Times: **Irdai commission curbs spark sharp selloff in insurers, banks and NBFCs** — Shares of insurers, banks, and non-banking finance companies dropped sharply following proposed commission caps by Irdai. The proposals raised concerns over the outlook for businesses reliant on insurance distribution. Major companies such as PB Fintech and Max Financial Services experienced significant declines. Analysts indicate that banks and NBFCs could face negative impacts from the changes in commission structures. — [Source](https://economictimes.indiatimes.com/industry/banking/finance/insure/irdai-commission-curbs-spark-sharp-selloff-in-insurers-banks-and-nbfcs/articleshow/134468312.cms)
- 2026-09-24 — Mint: **IRDAI commission proposals: Why does Nithin Kamath see regulatory risk as key?** — Zerodha CEO Nithin Kamath warned that regulatory risk is the biggest threat to financial businesses after IRDAI's proposed changes to insurance commission rules. The reforms aim to restructure insurance distribution expenses, which could affect commission rates and the economics of fintech models. — [Source](https://www.livemint.com/market/stock-market-news/irdai-commission-proposals-why-does-nithin-kamath-see-regulatory-risk-as-key-11790271257779.html)
- 2026-09-24 — Economic Times: **IRDAI proposal hits insurance stocks; FSSAI vs ecomm giants** — The insurance regulator has proposed new limits on commissions as part of a wider overhaul. This and more in todays ETtech Top 5. — [Source](https://economictimes.indiatimes.com/tech/newsletters/tech-top-5/insurance-policy-revamp-fssai-vs-ecomm-giants/articleshow/134463566.cms)
- 2026-09-24 — BUSINESS: **Nifty hits over five-month low as banks, NBFCs slide amid high oil prices** — Nifty suffers its steepest single-day fall since July 8 as Brent crude nears $105 a barrel and selling in banks and NBFCs intensifies — [Source](https://www.business-standard.com/markets/news/nifty-hits-over-five-month-low-as-banks-nbfcs-slide-amid-high-oil-prices-126092401078_1.html)
- 2026-09-24 — BUSINESSTODAY: **Biggest risk is regulatory risk...: Nithin Kamath warns fintech valuations face rule-change risk after IRDAI commission proposals** — Nithin Kamath, IRDAI commission proposals, regulatory risk, fintech valuations, insurance commissions, Zerodha brokerage, insurance distribution, fintech sector, business models, financial services — [Source](https://www.businesstoday.in/latest/corporate/story/biggest-risk-is-regulatory-risk-nithin-kamath-warns-fintech-valuations-face-rule-change-risk-after-irdai-commission-proposals-557647-2026-09-24)
- 2026-09-24 — CNBC-TV18: **PB Fintech wipes out nearly a decade of revenue in one day** — PB Fintech shares plunged 36% on Thursday, wiping out ₹31,426 crore in market value after IRDAI proposed tighter curbs on commissions and insurers’ management expenses, with the losses spilling over to insurers, banks and other financial stocks. — [Source](https://www.cnbctv18.com/market/pb-fintech-wipes-out-nearly-a-decade-of-revenue-in-one-day-19997865.htm)
- 2026-09-24 — Economic Times: **IRDAI proposals on insurance’s money machine leads to bloodbath for stocks: What happens to your money** — Insurance premiums may decrease if the Insurance Regulatory and Development Authority of India implements proposed commission changes. Proposed limits on commissions aim to reduce mis-selling and distribution costs in the insurance market. The changes could significantly impact banks, brokers, and digital distributors dependent on commissions for income. Insurers may need to adapt their distribution models in response to the proposed regulations. — [Source](https://economictimes.indiatimes.com/industry/banking/finance/insure/irdai-proposals-on-insurance-commission-leads-to-bloodbath-for-insurer-stocks-pb-fintech-max-life-sbi-life-what-happens-to-your-money/articleshow/134457957.cms)
- 2026-09-24 — Mint: **Sensex, Nifty crash today: What led to 'Thursday Tank' - Top impact made by these news; check biggest losers, m-cap loss** — Rising crude oil prices and bond yields weighed on the market, prompting concerns over inflation and a potential Fed rate hike. Banking and financial stocks fell sharply on proposed changes to insurance rules, leading to a broad selloff and a loss of nearly ₹4 lakh crore in investor wealth. — [Source](https://www.livemint.com/market/stock-market-news/sensex-nifty-crash-today-what-led-to-thursday-tank-top-impact-made-by-these-news-check-biggest-losers-m-cap-loss-11790240847834.html)
- 2026-09-24 — BUSINESSTODAY: **PB Fintech shares crack 26% after Irdai consultation paper; is there more pain ahead?** — PB Fintech, PB Fintech shares, PB Fintech stock, Policybazaar, Paisabazaar, Irdai, Irdai consultation paper, insurance sector, insurance distribution, insurance commissions, Expenses of Management, EoM, Yashish Dahiya, insurance stocks, stock market today, share market today — [Source](https://www.businesstoday.in/markets/stocks/story/pb-fintech-shares-crack-26-after-irdai-consultation-paper-is-there-more-pain-ahead-557475-2026-09-24)
- 2026-09-24 — Mint: **PB Fintech leads slump in insurance stocks on IRDAI's fee cap plan | Stock Market News** — The IRDAI has proposed measured that could slash insurance fee income for banks and digital brokers by as much as 90% in high-margin categories. — [Source](https://www.livemint.com/market/stock-market-news/pb-fintech-leads-slump-in-insurance-stocks-on-irdais-fee-cap-plan-11790228201934.html)
- 2026-09-24 — CNBC-TV18: **Block Deals Today: Four stocks see equity worth ₹3,300 crore change hands; Details here** — Sources had previously told CNBC-TV18 that Blue Stone, Nephrocare Health Services and Sedemac Mechatronics were set to witness block deals on Thursday, September 24. The block deals took place across the pre-open block window and after market open as well. — [Source](https://www.cnbctv18.com/market/block-deals-today-bluestone-jewellery-sedemac-mechatronics-nephrocare-gcpl-share-price-value-buyers-sellers-shareholding-supply-promoters-19997149.htm)
- 2026-09-24 — The Hindu: **Sensex, Nifty slide over 0.8% as rising crude, US bond yields rattle markets; financials lead losses** — HDFC Life Insurance was the top loser on the Nifty 50, falling 6.28% to ₹526.25 from a previous close of ₹561.50 — [Source](https://www.thehindubusinessline.com/markets/sensex-nifty-slide-over-08-as-rising-crude-us-bond-yields-rattle-markets-financials-lead-losses/article71502720.ece)
- 2026-09-24 — MONEYCONTROL: **HDFC Life, ICICI Prudential Life shares plunge 7% as IRDAI commission proposals rattle insurers** — hdfc life insurance stock update, icici prudential life insurance share price today, insurance stocks crash, irdai insurance commission cap, life insurance stocks fall — [Source](https://www.moneycontrol.com/news/business/markets/hdfc-life-icici-prudential-life-shares-plunge-7-as-irdai-commission-proposals-rattle-insurers-14036984.html)
- 2026-09-24 — Economic Times: **Explained: Why PB Fintech, SBI Life, HDFC Life and other insurance stocks tanked up to 10% on Thursday** — IRDAI has proposed insurance distribution reforms, including a ban on dark patterns, lower Expense of Management limits and greater commission transparency. The changes could affect customer acquisition costs and distribution economics for insurers and insurance platforms. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/why-pb-fintech-sbi-life-hdfc-life-other-insurance-stocks-could-face-pressure-on-thursday/articleshow/134450720.cms)
- 2026-09-24 — BUSINESSTODAY: **Max Financial, ICICI Pru Life, HDFC Life, SBI Life shares tumble up to 10%; here's why** — HDFC Life share price, ICICI Pru Life share price, SBI Life share price, insurance stocks, why insurance stocks down today — [Source](https://www.businesstoday.in/markets/stocks/story/icici-prudential-life-hdfc-life-sbi-life-shares-tumble-up-to-10-heres-why-557442-2026-09-24)
- 2026-09-24 — BUSINESSTODAY: **GIFT Nifty down 190 pts; NSE, Sedemac, Nephrocare, Ola Electric, telcos among top stocks in focus** — GIFT Nifty, GIFT Nifty cues today, GIFT Nifty Signals today, Stocks in news, Stocks in buzz, Stocks to buy, NSE, National Stock Exchange of India, Sedemac Mechatronics, Nephrocare Health Services, Ola Electric Mobility, Bharat Electronics, Max Estates, GHCL telcos, insurance companies, Vodafone Idea, Reliance Industries, Bharti Airtel, Exide Industries, Concord Biotech, Rainbow Children's Medicare, Avantel, GCHL, Zuari Industries, Pyramid Technoplast — [Source](https://www.businesstoday.in/markets/trending-stocks/story/gift-nifty-down-190-pts-nse-sedemac-nephrocare-ola-electric-telcos-among-top-stocks-in-focus-557423-2026-09-24)

## Business profile

**Strategic vision:** Life insurance provider offering protection, savings, and retirement solutions.

### Business segments
- **Individual Life Insurance:** Offers individual term insurance, unit-linked insurance plans, traditional savings plans, and immediate/deferred annuity retirement options.
- **Group Insurance:** Provides group term life insurance, credit-linked protection for loan buyers, and employee gratuity/superannuation schemes.

### Competitive strengths
- Association with HDFC Bank provides a strong distribution network.
- Integration of digital platforms with partner bank databases enables instant underwriting.
- Partnerships with global reinsurance corporations manage underwritten risk.

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## Freshness and sources

- Data as of: 2026-10-13
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/hdfclife
Markdown representation: https://faxioms.com/stocks/hdfclife?render=md