Guidance ledger · Q4 FY26

HDFC Life Insurance Co Ltd HDFCLIFE

4 revisions on record · 2 lowered · 0 raised — the strikethrough is what management used to say

mixed guidance posture · shifted across quarters

Holding view → · latest concall · The pulse

↓ lowered FY26 individual APE growth Q2 FY26 → Q4 FY26

~~early teens~~ → 7% delivered

“we thus delivered a full -year individual APE growth of 7% ye ar-on-year”

→ narrowed GST impact taper - quarterly run-rate Q2 FY26 → Q4 FY26

~~around 3% gross annualized / 300 bps~~ → approximately 110 basis points by Q4

“The impact in Q4 was approximately 110 basis points, and we expect this to taper off further and be largely neutralized as we move into FY27”

↔ widened GST neutralization timing Q2 FY26 → Q4 FY26

~~next 2-3 quarters~~ → first half of FY27

“by the time we finish the first half of next year, we should be done with the GST impact”

↓ lowered Capital posture / further capital required Q3 FY26 → Q4 FY26

~~no requirement for further capital~~ → INR 1,000 crore preferential issue + INR 500 crore sub-debt headroom

“we have taken board approval to raise up to INR1,000 crores by way of a preferential issue to our parent, HDFC Bank”

Method. Revisions come from management's own stated numbers, compared quarter over quarter across the covered concalls; each carries the verbatim quote. “No revisions” can also mean guidance too vague to pin down — see the posture chip above. Not investment advice.