SBILIFE

Valuation & Financial Ratios P/E ratio (TTM): 73.2×, which is well above sector average (18–20×), indicating a richly valued stock P/B ratio: 10.2–10.7× (book value per share ₹178) Dividend yield: 0.15% (₹2.7/share annually) ROE / ROCE: 15.1% / 16.9% respectively Strengths: Strong renewal income stream, improving VNB margins. Healthy ROE/ROCE, debt-free balance sheet Large-cap financial services leader with SBI parentage and scale. Risks: Valuation premium vs peers; high P/E and P/B indicate elevated expectations. ULIP-heavy product mix (60% of APE), which pressures margins during equity market volatility Sales growth slowdown—new business premium growth decelerated to 3% in Q1FY26 Distribution lag through SBI relative to competitor bancassurance partners.