Q3FY26 performance: HDFC Life delivered a mixed Q3FY26 performance, with moderation seen in premium growth, though GST-led improvement in protection demand, supported margins. Net premium income grew 8.8% YoY (-2.8% QoQ) to 18,242 crore. Product mix remained skewed towards ULIP (ULIP 43%, Par 27%, Non-par 19%, Term 7%, Annuity 4%). VNB for 9MFY26 rose 7% YoY to 2,773 crore, with VNB margin slightly down by 10 bps QoQ at 24.4% amid GST-related headwinds. PAT grew 7% YoY to 1,414 crore for 9MFY26, embedded value...