SBI Life Insurance Company's Gross Written Premium (GWP) for Q2FY25 was INR 204,132 million, showing a 1.2% year-on-year growth and a significant 31.1% increase quarter-on-quarter. This growth was driven by a 15.8% rise in renewal premiums.

The reported figure fell short of market expectations. The Value of New Business (VNB) decreased by 2.7% year-on-year to INR 14,500 million, despite a strong 49.5% quarter-on-quarter growth. The company's Profit After Tax (PAT) for the quarter reached INR 5,294 million, marking a 39.3% increase year-on-year and a slight 1.9% rise quarter-on-quarter.

As of September 30, 2024, the company's Assets Under Management (AUM) stood at INR 4,389.5 billion, reflecting a 27.2% year-on-year increase. The debt-equity ratio was reported at 60:40. The embedded value for the quarter was INR 660.7 billion, showing a 28.9% year-on-year growth. The operating return on embedded value (ROEV) was 19.5%. SBI Life's solvency ratio was strong at 2.04x, well above the regulatory minimum of 1.5x.

KR Choksey revised its target price for the stock to INR 1,901 per share, down from INR 2,160, while maintaining a "BUY" rating. The revised target price reflects a multiple of 2.2x for its FY26E embedded value.