HDFC Life FY26 Earnings Call: Margin Recovery Expected as GST Impact Moderates
Published on: April 24, 2026, 1:14 a.m. | Source: scanx.trade
HDFC Life conducted its FY26 earnings conference call on April 16, 2026, reporting Value of New Business growth of 2% to ₹4,034 crores and individual APE growth of 7%. The company's new business margins declined 140 basis points to 24.20% due to GST impact, regulatory changes, and fixed cost absorption issues. Management expects margin recovery as GST headwinds moderate and targets VNB growth to match APE growth in FY27, with sector outperformance planned by FY27.
