We expect the business momentum to continue and should result in record high core RoEV of 18% in FY22E which is a potential rerating event. SBI Life reported strong Q3FY22 performance with 30%/54% YoY APE/VNB growth in Q3FY22 along with stable VNB margin of 25.7%. However, the bigger takeaway is the combination of multiple levers #twitterx🍕
