SBI Life Insurance Company Q2 FY27 Results: Standalone Net Profit ₹549 Crore

Summary

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Tax expense was ₹4.50 crore, 0.8% of profit before tax, compared with ₹18.59 crore a year earlier, which was 3.6% of that quarter's profit before tax.

Against the June 2026 quarter the picture is different: net profit fell 24.2% from ₹725 crore and profit before tax fell 25.8% from ₹746 crore. The filing gives the figures for both quarters but no reason for the fall.

The expenses of management ratio was 11.39% for the quarter, against 12.05% in the June 2026 quarter and 11.00% a year earlier, according to the analytical ratios in the filing. Policyholders' account income from investments was a net negative ₹2,613.83 crore for the quarter, which the statement shows without an explanation in the notes read.

The results are prepared under Indian GAAP. IRDAI granted the company a one-year forbearance for FY 2026-27, so it has deferred adoption of Ind AS. The joint statutory auditors issued Limited Review Reports with unmodified opinion.

The filing says that the Sahara India Life Insurance Company business transfer ordered by IRDAI on 2 Jun 2023 is no longer sub judice after the SAT dismissed SILIC's appeal on 5 Dec 2025.

The embedded value as at 30 Sep 2026 was ₹87,350 crore, and the value of new business for the six months was ₹3,270 crore, according to an opinion from Willis Towers Watson reviewed by the company. The company's solvency ratio stood at 1.97 times.

Inference

The filing reports no dividend for the quarter in the sections read, and the company's shareholders' account shows an interim dividend paid in the cash flow statement for the period. The filing does not give a reason for the fall in profit against the June 2026 quarter, and it does not say whether any dividend has been declared for the quarter ended 30 Sep 2026.

The company allotted 164,539 equity shares of ₹10 face value to employees under ESOS 2018 during the quarter. The Board has agreed to seek shareholder approval by postal ballot for the appointment of Nihar Niranjan Jambusaria as an Independent Director, with e-voting from 4 Nov 2026 to 3 Dec 2026.

The filing says that results for a quarter are not necessarily indicative of results for any other interim period or full year, given seasonality in the industry. The effect of the SILIC business transfer on future results after 1 Apr 2027 is not stated.

Reference: Original filing (PDF)