Guidance ledger · Q4 FY26

SBI Life Insurance Company Limited SBILIFE

3 revisions on record · 1 lowered · 0 raised — the strikethrough is what management used to say

directional guidance only · held across quarters

Holding view → · latest concall · The pulse

→ narrowed VoNB margin guidance band Q1 FY26 → Q4 FY26

~~26% to 28% (Q1FY26 framing)~~ → 27% to 28% (Q4FY26 verbal narrowing)

“So I think we said '27 to '28, and we will stick to that”

→ narrowed Individual APE growth guidance Q1 FY26 → Q4 FY26

~~mid-teens for FY26 (Q1FY26)~~ → around 14% CAGR maintained for FY27

“Going forward also, we intend to maintain the growth rate at around 14%, which has been our CAGR for the last 3 to 5 years”

↓ lowered Protection share of APE target Q2 FY26 → Q4 FY26

~~above 10% (Q2FY26 target)~~ → 9% delivered FY26, target remains above 10%

“Protection business contributes 9% of APE and stands at INR22.4 billion”

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.