Buy ICICI Lombard General Insurance Company, target price Rs 1490: Emkay Global

Emkay Global has buy call on ICICI Lombard General Insurance Company with a target price of Rs 1490. The current market price of ICICI Lombard General Insurance Company Ltd. is Rs 1073.4.

ICICI Lombard General Insurance Company Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 52618.64 Crore) operating in Financial Services sector.

ICICI Lombard General Insurance Company Ltd. 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 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 reported net profit after tax of Rs 352.53 Crore in latest quarter.



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.