SBI Life shares in focus after Q4 net profit declines 1%: Here’s why Nomura, Nuvama, other brokerages remain bullish

SBI Life reported a marginal 1% YoY decline in Q4 FY26 net profit, but strong premium growth and stable operating metrics kept brokerages positive. Firms like Nomura, HDFC Securities and Nuvama retained ‘Buy’ ratings, citing resilient performance, healthy margins outlook and long-term growth visibility despite near-term softness in APE and VNB.