17 Oct 2025 | 3 Mins Read
Motilal Oswal recommends buying ICICI Prudential Life, targets Rs 720
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ICICI Prudential Life Insurance reported a 3% YoY decline in Q2FY26 APE to INR24.2b and 4% YoY decline to INR42.9b in 1HFY26. VNB margin expanded 100bp YoY to 24.4% and PAT grew 19% YoY to INR3b in Q2FY26. The EV grew 10% YoY to INR505b, and EV estimates were revised 1% downward due to GST ITC impact. Motilal Oswal maintains a BUY recommendation.