Buy ICICI Lombard General Insurance Company, target price Rs 1400: Motilal Oswal Financial Services

Motilal Oswal Financial Services has buy call on ICICI Lombard General Insurance Company with a target price of Rs 1400.The current market price of ICICI Lombard General Insurance Company is Rs 1095.7.

ICICI Lombard General Insurance Company, incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 53478.06 Crore) operating in Financial Services sector.

ICICI Lombard General Insurance Company key Products/Revenue Segments include Miscellaneous Insurance, Other Operating Revenue, Fire Insurance and Marine Insurance for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-12-2022, the company has reported a Standalone Total Income of Rs 4570.11 Crore, down -2.86 % from last quarter Total Income of Rs 4704.51 Crore and up 13.71 % from last year same quarter Total Income of Rs 4019.13 Crore. Company has reported net profit after tax of Rs 352.53 Crore in latest quarter.

The company’s top management includes Mrs.Lalita D Gupte, Mr.Murali Sivaraman, Mr.Sandeep Batra, Mr.Ashvin Parekh, Mr.Suresh Kumar, Mr.Uday Chitale, Mr.Ved Prakash Chaturvedi, Mr.Sanjeev Mantri, Mr.Alok Kumar Agarwal, Mr.Bhargav Dasgupta, Mr.Rakesh Jha. Company has PKF Sridhar & Santhanam�LLP as its auditors. As on 31-12-2022, the company has a total of 49 Crore shares outstanding.

Investment Rationale
While the brokerage's estimates for premium remains unchanged for FY24/FY25, our PAT estimates have been marginally lowered by 4% each for FY24/FY25.

Promoter/FII Holdings
Promoters held 48.02 per cent stake in the company as of 31-Dec-2022, while FIIs owned 23.39 per cent, DIIs 16.63 per cent.