Buy ICICI Lombard General Insurance Company, target price Rs 1550: ICICI Direct

ICICI Direct has buy call on ICICI Lombard General Insurance Company with a target price of Rs 1550. The current market price of ICICI Lombard General Insurance Company Ltd. is Rs 1288.05. Time period given by analyst is one year when ICICI Lombard General Insurance Company Ltd. price can reach defined target.

ICICI Lombard General Insurance Company Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 63101.31 Crore) operating in Financial Services sector.

ICICI Lombard General Insurance Company Ltd. key Products/Revenue Segments include Miscellaneous Insurance, Interest, Dividend & Rent, Fire Insurance, Income From Sale Of Share & Securities for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Standalone Total Income of Rs 4019.13 Crore, up .93 % from last quarter Total Income of Rs 3982.27 Crore and up 25.64 % from last year same quarter Total Income of Rs 3198.87 Crore. Company reported net profit after tax of Rs 317.53 Crore in latest quarter.

Investment Rationale
Muted business growth in the past two years and higher claims led by Covid, resulted in the recent underperformance. However, long term sustainable growth opportunity and market leadership along with focus on digital adoption provides a good opportunity to invest.

Promoter/FII Holdings
Promoters held 48.05 per cent stake in the company as of 31-Dec-2021, while FIIs owned 29.4 per cent, DIIs 12.19 per cent.