Triple-digit ROE & ROCE PSU stock to announce results on Monday; PAT surged by 800 per cent in FY23!

The stock has delivered a multibagger return of around 74 per cent in the past 1 year.

Life Insurance Corporation of India (LICI) is the largest life insurance provider in India, holding a market share of over 66.2 per cent in new business premiums. The company offers a wide range of insurance products, including participating and non-participating options. These products encompass unit-linked plans, savings plans, term insurance, health insurance, and annuity & pension products.

The company has informed via press release that a meeting of the Board of Directors of Life Insurance Corporation of India (LIC) is scheduled for Monday, May 27, 2024. The meeting will address, among other things: Considering and approving the audited standalone and consolidated financial results for the year ended March 31, 2024, and recommending a final dividend for the financial year 2023-24, if any.

Share Performance:

On Friday, the company's stock closed at around Rs 1029.80 per share, with a market capitalisation of Rs 6,51,348 crore. Additionally, the stock has delivered a return of around 73 per cent in the past year.

Financial performance:

According to the Quarterly Results, in Q3 FY24, the company reported a revenue of Rs 2,13,345 crore, representing a growth of 8.32 per cent, and a net profit of Rs 9,444 crore. In FY23, the company reported a revenue of Rs 7,81,543 crore and a net profit of Rs 36,397 crore, compared to a net profit of Rs 4,043 crore in the previous year representing a gain of 800 per cent YoY.

In terms of ownership, promoters hold a significant majority stake of 96.50 per cent. Meanwhile, Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) hold minimal shares, at 0.14 per cent and 0.85 per cent, respectively. The public shareholding remains low at just 2.49 per cent.

Investors must keep this Large-Cap stock on their radar.

Disclaimer: The article is for informational purposes only and not investment advice.