ICICI Lombard General Insurance Company Limited

NSEI:ICICIGI Stock Report

Market Cap: ₹911.3b

ICICI Lombard General Insurance Valuation

Is ICICIGI undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ICICIGI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ICICIGI (₹1804.7) is trading above our estimate of fair value (₹741.19)

Significantly Below Fair Value: ICICIGI is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ICICIGI?

Key metric: As ICICIGI is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for ICICIGI. This is calculated by dividing ICICIGI's market cap by their current earnings.
What is ICICIGI's PE Ratio?
PE Ratio40.1x
Earnings₹22.25b
Market Cap₹911.33b

Price to Earnings Ratio vs Peers

How does ICICIGI's PE Ratio compare to its peers?

The above table shows the PE ratio for ICICIGI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average79.7x
NIACL New India Assurance
16.5x-5.6%₹281.1b
GODIGIT Go Digit General Insurance
104.4x29.9%₹298.9b
ICICIPRULI ICICI Prudential Life Insurance
111.9x1.7%₹980.3b
HDFCLIFE HDFC Life Insurance
85.8x16.0%₹1.5t
ICICIGI ICICI Lombard General Insurance
40.1x15.3%₹893.4b

Price-To-Earnings vs Peers: ICICIGI is good value based on its Price-To-Earnings Ratio (40.1x) compared to the peer average (79.7x).

Price to Earnings Ratio vs Industry

How does ICICIGI's PE Ratio compare vs other companies in the Asian Insurance Industry?

7 CompaniesPrice / EarningsEstimated GrowthMarket Cap
ICICIGI 40.1xIndustry Avg. 11.0xNo. of Companies46PE0816243240+
7 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ICICIGI is expensive based on its Price-To-Earnings Ratio (40.1x) compared to the Asian Insurance industry average (11x).

Price to Earnings Ratio vs Fair Ratio

What is ICICIGI's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ICICIGI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio40.1x
Fair PE Ratio37.5x

Price-To-Earnings vs Fair Ratio: ICICIGI is expensive based on its Price-To-Earnings Ratio (40.1x) compared to the estimated Fair Price-To-Earnings Ratio (37.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ICICIGI forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹1,804.70
₹2,142.11
+18.7%
14.6%₹2,600.00₹1,400.00n/a27
Nov ’25₹1,916.30
₹2,142.11
+11.8%
14.6%₹2,600.00₹1,400.00n/a27
Oct ’25₹2,153.90
₹2,058.42
-4.4%
16.4%₹2,650.00₹1,300.00n/a26
Sep ’25₹2,141.75
₹1,974.42
-7.8%
16.6%₹2,600.00₹1,291.00n/a26
Aug ’25₹2,004.35
₹1,943.52
-3.0%
14.8%₹2,331.00₹1,291.00n/a27
Jul ’25₹1,807.10
₹1,773.64
-1.9%
13.4%₹2,100.00₹1,215.00n/a25
Jun ’25₹1,580.75
₹1,758.64
+11.3%
13.3%₹2,100.00₹1,100.00n/a25
May ’25₹1,710.65
₹1,752.83
+2.5%
13.5%₹2,100.00₹1,100.00n/a24
Apr ’25₹1,697.85
₹1,635.86
-3.7%
13.8%₹2,000.00₹1,100.00n/a22
Mar ’25₹1,643.85
₹1,592.17
-3.1%
11.8%₹1,875.00₹1,100.00n/a24
Feb ’25₹1,512.35
₹1,573.63
+4.1%
11.0%₹1,780.00₹1,100.00n/a24
Jan ’25₹1,437.20
₹1,486.00
+3.4%
13.4%₹1,750.00₹995.00n/a24
Dec ’24₹1,457.65
₹1,483.92
+1.8%
13.3%₹1,750.00₹995.00n/a24
Nov ’24₹1,357.80
₹1,472.56
+8.5%
13.1%₹1,750.00₹995.00₹1,916.3025
Oct ’24₹1,309.55
₹1,432.80
+9.4%
12.7%₹1,700.00₹995.00₹2,153.9025
Sep ’24₹1,341.35
₹1,432.80
+6.8%
12.7%₹1,700.00₹995.00₹2,141.7525
Aug ’24₹1,362.65
₹1,427.79
+4.8%
12.9%₹1,700.00₹995.00₹2,004.3524
Jul ’24₹1,344.45
₹1,373.23
+2.1%
14.1%₹1,650.00₹980.00₹1,807.1022
Jun ’24₹1,225.25
₹1,356.86
+10.7%
13.6%₹1,650.00₹980.00₹1,580.7522
May ’24₹1,079.15
₹1,351.87
+25.3%
13.3%₹1,650.00₹980.00₹1,710.6523
Apr ’24₹1,069.50
₹1,388.25
+29.8%
13.0%₹1,620.00₹920.00₹1,697.8524
Mar ’24₹1,100.45
₹1,409.70
+28.1%
10.9%₹1,620.00₹995.00₹1,643.8523
Feb ’24₹1,125.35
₹1,413.46
+25.6%
10.7%₹1,620.00₹995.00₹1,512.3524
Jan ’24₹1,236.80
₹1,432.54
+15.8%
11.4%₹1,650.00₹995.00₹1,437.2024
Dec ’23₹1,224.60
₹1,432.54
+17.0%
11.4%₹1,650.00₹995.00₹1,457.6524
Nov ’23₹1,172.10
₹1,436.44
+22.6%
11.2%₹1,650.00₹995.00₹1,357.8025

Analyst Forecast: Target price is less than 20% higher than the current share price.

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