Buy ICICI Lombard General Insurance Company, target price Rs 1470: Emkay Global Financial Services

Emkay Global Financial Services has buy call on ICICI Lombard General Insurance Company with a target price of Rs 1470. The current market price of ICICI Lombard General Insurance Company is Rs 1248.4.

ICICI Lombard General Insurance Company, incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 62041.26 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 30-09-2022, the company has reported a Standalone Total Income of Rs 4704.51 Crore, up 13.38 % from last quarter Total Income of Rs 4149.38 Crore and up 18.14 % from last year same quarter Total Income of Rs 3982.27 Crore. Company has reported net profit after tax of Rs 590.53 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 Chaturvedi & Co. as its auditors. As on 30-06-2022, the company has a total of 49 Crore shares outstanding.

Promoter/FII Holdings
Promoters held 48.03 per cent stake in the company as of 30-Jun-2022, while FIIs owned 26.43 per cent, DIIs 13.94 per cent.