ICICI Lombard shares slip 4% as Q4 profit dips 2% to Rs 510 crore

ICICI Lombard General Insurance shares slipped 4.2% to their day’s low of Rs 1,745.60 on the NSE on Wednesday after the company reported a 2% year-on-year decline in net profit to Rs 510 crore for the quarter ended 31 March, compared with Rs 520 crore in the same period last year.

Despite the dip in profit, total income rose to Rs 5,851 crore from Rs 5,165 crore a year ago. Gross direct premium income also inched up 2.3% to Rs 6,211 crore against Rs 6,073 crore in the year-ago quarter.

"There is some semblance and much better discipline in the market in the first two weeks of the financial year," said Sanjeev Mantri MD ICICI Lombard. Health, which contributes 38%, could grow to 40% in a year's time, Mantri said.


The company’s board has recommended a final dividend of Rs 7 per share (70% of the face value of Rs 10) for the financial year ended 31 March 2025.

ICICI Lombard’s solvency ratio stood at 2.69 times as of March-end, higher than 2.62 times a year ago and comfortably above the regulatory minimum of 1.5 times.

For the full year, profit after tax jumped 30.7% to Rs 2,508 crore, with return on average equity rising to 19.1% from 17.2% in FY24.

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ICICI Lombard shares price target

Brokerage firm Nuvama has maintained a ‘Buy’ rating on the stock with a target price of Rs 2,100. The brokerage noted that investment book growth moderated to 9.4% YoY, while Q4 gross written premium (GWP) growth eased to 10.2%, mainly due to slowing new vehicle sales. Reflecting this, Nuvama cut its adjusted profit after tax (APAT) estimates for FY26E and FY27E by 6.8% and 6.7%, respectively.

Additionally, weak investment income contributed to a decline in APAT, which fell 1.9% YoY and 29.7% quarter-on-quarter to Rs 510 crore.

ICICI Lombard shares performance

In its last trading session, ICICI Lombard shares closed at Rs 1,821.3, up 6% on the BSE, while the benchmark Sensex surged 2.1%. The stock has declined 13.5% in the last six months but gained 67% over the past two years. The company’s market capitalization stands at Rs 90,289 crore.

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