Stockrabit · Analysts
Questions across 22 calls

Shreya Shivani

Nomura

HDB Financial Services Limited

HDB Financial Services Limited CC-Oct25.pdf · 2025-10-15
Yes, hi. Thank you for the opportunity. I have a question on the LAP book. I can see your ticket sizes are on the higher side in this book. However, if you can help us understand, do we h ave under 10 lakh ticket size over here? What is the stress trend in this portion, if any? Now, second question is on the business loan and the gold loan. Broadly similar kind of a ticket size and assuming that the same kind of customer would come to you for either of the loans. Can you help me understand, was the trend very divergent? Did you go slow on business loan and gold loans, do we have an idea which must have grown at a much faster pace? So those are my two questions. Thank you.
Just on the LAP portion, any stress trends for your portfolio? I understand you do not have under 10 lakhs, but anything that you would like to highlight over there?

ICICI Prudential Life Insurance Company Limited

ICICI Prudential Life Insurance Company Limited CC-Sep25.pdf · 2025-10-14
Hi. Good afternoon. Thank you for the opportunity. I have two questions. My first question is, I am just trying to understand how the GST announcement on 15 th August and eventual implementation by 22nd September impacted your business for the second quarter. So, usually your September month tends to be about 30% -40% of your second quarter APE. Historically, that's how it has been. So, if you can help us with some numbers to understand how much of a steady state volume of Q2 got impacted because of this GST announcement and then eventual implementation. In terms of how much volumes got impacted, was it the entire 30%-40% got impacted or after 22nd September, you could, you know, a lot more got booked back so the impact was not that high. That's my first question. My second question is on your persistency, 13 th month, 61 st month trends. In the last quarter, you had explained how certain products and channels have impacted the 13 th month trends. Plus, the March 2023 book was a very solid book. So, that's why year-on- year basis things look weaker on the persistency side. So, can you help us understand, the trends don't seem to be improving. Is there some sustained challenge which is going on? That's my second question. And also, I wanted to, there's another third question that I wanted to ask. It's on the agency channel and you have just given an explanation on your distribution channels. But if you can help us understand that apart from this transition away from ULIPs a nd the annuity products that they sell a lot more, is there anything else that is troubling them? And are these channels going to seem further troubles or challenges as we start renegotiating our commission structures with our distributors going ahead? So, those are my three questions. Thank you.
So, just to follow up on that, as we do renegotiation on our commission structure, etc., should we expect the channels, particularly agency and even the other channels to continue seeing some sort of disturbance in Q3? I mean, it feels like a repeat of last year when we were renegotiating things due to surrender value regulation changes. So, should we expect a little bit of turbulence to continue into Q3?