Nirmal Bang

Nirmal Bang, one of the leading stock broking companies in India, caters to retail and institutional clients by offering them a range of financial products and services, including equities, derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services and PMS.

Nirmal Bang is drawn from a diversity of professional backgrounds, and blend of experience, skill and dedication is shared with its clients. Nirmal Bang emphasizes adequate, thorough research local and world-wide developments, balancing these with the astute discovery of intrinsic values, synergies and growth. The aim is simply to help the investors to maximize their returns.

A Relationship Beyond Broking

External broker reports(aggregated public sources), Nirmal Bang

External broker reports(aggregated public sources)

Equity Bottom-Up

SBI Life Insurance Co Ltd / Equity Bottom-Up

<div><div><div><div><ul><li>Strong APE growth led by non-par: Overall APE grew by 4% YoY in 4QFY22 while FY22 growth stood at 25% YoY.</li></ul><div><div><div><div><ul><li>Product mix moves in favor of non-par: Overall product mix improved, leading to margin expansion in FY22.</li></ul><div><div><div><div><ul><li>Distribution mix largely stable: During FY22, banca APE grew by 25% YoY, in line with the overall company growth.</li></ul></div></div></div></div></div></div></div></div></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Strong APE growth led by non-par: Overall APE grew by 4% YoY in 4QFY22 while FY22 growth stood at 25% YoY.Product mix moves in favor of non-par: Overall product mix improved, leading to margin expansion in FY22.Distribution mix largely stable: During FY22, banca APE grew by 25% YoY, in line with the overall company growth.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

SBI Life Insurance - Growth and Margin Expansion Led by Non-Par