New India Assurance Company Ltd
NIACL NSE
New India Assurance Company Ltd
InsuranceNSE: NIACL BSE: 540769 General Insurance
Key Fundamentals
SmallcapGeneral InsuranceInsuranceMarket Cap
₹30,173 Cr
Volatility
Moderate
P/E Ratio
39.33
EBITDA
₹1,314 Cr
Return on Equity
4.74%
Debt to Equity
0
Book Value
₹149.43
EPS
₹6.65
52W High
₹218
52W Low
₹116.97
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view New India Assurance Company Ltd insights
35 extracted metrics + investor summaries across FY15–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
1- Company has been maintaining a healthy dividend payout of 25.5%
Weaknesses
3- The company has delivered a poor sales growth of 8.52% over past five years.
- Company has a low return on equity of 4.24% over last 3 years.
- Earnings include an other income of Rs.717 Cr.
Growth Rate
Revenue Growth
16.08% ↗
Net Income Growth
39.23% ↗
Cash Flow Change
-33.70% ↘
ROE
41.49% ↗
ROCE
-22.50% ↗
EBITDA Margin (Avg.)
5.28% ↗
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 20h agoAI opinion · based on fundamentals
Risk high
New India Assurance Company Ltd is a public sector general insurer with a market cap of Rs.29,283 Cr trading at a PE of 38x and PB of 1.2x. The company has shown TTM sales growth of 11% but TTM profit declined 36%, with a 3-year average ROE of just 4%, reflecting the challenge of translating premium growth into consistent profitability.
Bull Case 7
- Compounded sales growth of 13% over 10 years demonstrates long-term top-line expansion in India's underpenetrated general insurance market
- TTM revenue growth of 11% indicates continued momentum in premium collection despite competitive pressures
- 3-year compounded profit CAGR of 99% shows a strong recovery from prior loss-making years, albeit off a low base
- Price-to-book ratio of 1.2x is relatively undemanding for an insurance company with a large balance sheet and government backing
- Consistent dividend payout of 25.5% provides some income visibility with a current yield of 0.84%
- 3-year stock CAGR of 13% indicates the market has re-rated the company following its profit recovery phase
- Last year ROE improved to 5% from a 5-year average of 3%, suggesting gradual improvement in capital efficiency
Bear Case 8
- TTM profit declined 36%, indicating significant earnings volatility and vulnerability to claims experience
- 3-year average ROE of only 4% is well below cost of equity, reflecting persistent underperformance in capital utilization
- PE of 38x is elevated for a company with 5-year profit CAGR of -3%, offering minimal margin of safety
- Earnings quality is questionable with other income of Rs.717 Cr forming a material portion of reported profits
- 5-year compounded sales growth of only 9% (screener data shows 8.52%) lags private sector peers growing at 15-20%
- 5-year stock CAGR of just 5% has significantly underperformed broader market indices over the same period
- 5-year ROE average of just 3% suggests structural inefficiency in underwriting and expense management as a PSU insurer
- 1-year stock return of -3% shows recent market sentiment has turned negative despite the 11% top-line growth
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 20h ago Headwinds 3
- Q1 net loss of ₹257 crore Jul 27
NIACL posted a net loss of ₹257 crore in Q1FY27, reversing a ₹391 crore profit YoY. Incurred claims ratio surged to 103.38% driven by Motor Third Party segment pressures.
- Combined ratio worsens to 121% Jul 27
Combined ratio deteriorated to 121.44% in Q1FY27, underscoring persistent structural underwriting challenges despite top-line growth.
- Investment income decline Jul 27
Investment income fell to ₹2,146 crore in Q1FY27, reducing the buffer that typically offsets underwriting losses.
Positives 3
- FY26 PAT surged 40% Jul 26
Revised Annual Report shows global PAT surged 40% to ₹1,384 crore for FY2025-26, with global GWP reaching ₹47,174 crore.
- ₹1.50 dividend declared Jul 27
Shareholders approved a ₹1.50 per share final dividend for FY26 at the 107th AGM, signaling confidence in full-year profitability.
- GWP grew 2.9% in Q1 Jul 27
Gross written premium grew 2.90% YoY to ₹13,720 crore in Q1FY27, indicating continued top-line momentum despite loss.
Neutral 2
- CMD re-appointed, board changes Jul 27
AGM approved re-appointment of CMD Girija Subramanian and new board additions, ensuring leadership continuity.
- Revised annual report uploaded Jul 26
NIACL uploaded revised FY2025-26 Annual Report incorporating BRSR disclosures and CAG comments.
TL;DR: NIACL delivered strong full-year FY26 results with 40% PAT growth, but Q1FY27 reveals a sharp reversal with a ₹257 crore loss driven by motor claims inflation and a 121% combined ratio. The dividend declaration signals management confidence, yet underwriting discipline remains the core risk. The trend is deteriorating on a quarterly basis, and investors should watch whether motor segment reforms or re-pricing can arrest the claims ratio blowout in coming quarters.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 9,900 | 10,567 | 11,366 | 11,686 | 10,418 | 10,786 | 10,703 | 11,664 | 11,719 | 13,450 | 12,069 | 12,544 | 11,900 |
| Expenses | 9,557 | 10,813 | 10,500 | 11,252 | 10,148 | 10,646 | 10,605 | 11,239 | 11,530 | 13,524 | 11,863 | 12,525 | 12,105 |
| Operating Profit | 343 | -246 | 866 | 434 | 270 | 140 | 98 | 426 | 189 | -74 | 206 | 19 | -205 |
| OPM % | 3.5% | -2.3% | 8% | 3.7% | 2.6% | 1.3% | 0.9% | 3.6% | 1.6% | -0.6% | 1.7% | 0.1% | -1.7% |
| Other Income | -25 | 4 | 0 | 36 | 2 | 1 | 9 | 77 | 202 | 98 | 166 | 427 | 27 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PBT | 318 | -242 | 866 | 470 | 272 | 141 | 107 | 502 | 391 | 23 | 372 | 446 | -179 |
| Tax % | 16% | -19% | 18% | 34% | 14% | 48% | -221% | 36% | 0% | 14% | -1% | -26% | 37% |
| Net Profit | 261 | -175 | 722 | 313 | 243 | 91 | 349 | 356 | 402 | 55 | 380 | 580 | -239 |
| EPS in Rs | 1.58 | -1.07 | 4.38 | 1.89 | 1.45 | 0.54 | 2.12 | 2.18 | 2.43 | 0.33 | 2.31 | 3.51 | -1.47 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 13,354 | 15,215 | 20,234 | 19,798 | 27,660 | 28,343 | 33,066 | 35,821 | 41,007 | 43,285 | 43,541 | 49,758 | 49,962 |
| Expenses | 17,107 | 18,195 | 20,692 | 24,590 | 27,944 | 29,406 | 30,931 | 35,644 | 39,728 | 42,017 | 42,552 | 49,332 | 50,016 |
| Operating Profit | -3,753 | -2,980 | -458 | -4,793 | -284 | -1,063 | 2,136 | 177 | 1,279 | 1,268 | 989 | 426 | -54 |
| OPM % | -28% | -20% | -2.3% | -24% | -1% | -3.8% | 6% | 0.5% | 3.1% | 2.9% | 2.3% | 0.9% | -0.1% |
| Other Income | 5,487 | 4,063 | 1,704 | 7,601 | 1,050 | 2,816 | 27 | 87 | 60 | 203 | 84 | 888 | 717 |
| Interest | 3 | 4 | 6 | 12 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 28 | 34 | 47 | 74 | 90 | 93 | 103 | 87 | 82 | 59 | 51 | 81 | 0 |
| PBT | 1,703 | 1,045 | 1,194 | 2,722 | 677 | 1,659 | 2,060 | 178 | 1,256 | 1,412 | 1,022 | 1,233 | 663 |
| Tax % | 19% | 11% | 14% | 20% | 11% | 13% | 21% | 0% | 16% | 23% | 5% | -10% | — |
| Net Profit | 1,412 | 959 | 1,050 | 2,190 | 610 | 1,447 | 1,645 | 198 | 1,050 | 1,120 | 1,038 | 1,417 | 776 |
| EPS in Rs | 35.4 | 24.03 | 26.15 | 13.29 | 3.67 | 8.75 | 9.95 | 1.18 | 6.36 | 6.77 | 6.29 | 8.57 | 4.68 |
| Div. Payout % | 21% | 26% | 30% | 33% | 41% | 0% | 0% | 25% | 5% | 30% | 29% | 18% | — |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 200 | 200 | 200 | 412 | 824 | 824 | 824 | 824 | 824 | 824 | 824 | 824 |
| Reserves | 20,035 | 19,426 | 20,484 | 24,228 | 23,303 | 20,721 | 24,732 | 24,981 | 25,040 | 27,472 | 28,171 | 27,707 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 42,726 | 44,780 | 49,473 | 51,094 | 56,426 | 55,707 | 66,914 | 70,691 | 72,359 | 79,150 | 80,776 | 81,817 |
| Total Liabilities | 62,961 | 64,407 | 70,157 | 75,734 | 80,553 | 77,252 | 92,470 | 96,496 | 98,223 | 1,07,446 | 1,09,771 | 1,10,349 |
| Fixed Assets | 302 | 350 | 399 | 560 | 561 | 558 | 547 | 563 | 564 | 471 | 533 | 520 |
| CWIP | 0 | 15 | 57 | 33 | 45 | 25 | 16 | 18 | 14 | 20 | 6 | 13 |
| Investments | 45,365 | 44,972 | 51,907 | 56,024 | 59,801 | 52,029 | 67,025 | 71,319 | 74,360 | 82,069 | 80,942 | 78,160 |
| Other Assets | 17,293 | 19,069 | 17,795 | 19,117 | 20,147 | 24,640 | 24,883 | 24,597 | 23,285 | 24,886 | 28,290 | 31,657 |
| Total Assets | 62,961 | 64,407 | 70,157 | 75,734 | 80,553 | 77,252 | 92,470 | 96,496 | 98,223 | 1,07,446 | 1,09,771 | 1,10,349 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 847 | -1,605 | -124 | 425 | -1,334 | -967 | 777 | -4,052 | -5,855 | -4,672 | -3,390 | -4,532 |
| Investing | -1,345 | 741 | 1,340 | -494 | 2,337 | 2,825 | -334 | 4,900 | 5,701 | 7,203 | 3,285 | 2,050 |
| Financing | -208 | -366 | -307 | 1,125 | -476 | -300 | 77 | -6 | -65 | -326 | -343 | -297 |
| Net Cash Flow | -706 | -1,229 | 910 | 1,056 | 527 | 1,558 | 520 | 842 | -219 | 2,206 | -448 | -2,778 |
| Free Cash Flow | 795 | -1,683 | -277 | 208 | -1,436 | -1,033 | 728 | -4,148 | -5,928 | -4,723 | -3,496 | -4,597 |
| CFO/OP | -23 | 54 | 27 | -9 | 310 | 66 | 57 | -2,381 | -430 | -341 | -314 | -1,092 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Conversion Cycle | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Working Capital Days | -549 | -533 | -447 | -506 | -421 | -486 | -471 | -469 | -436 | -439 | -466 | -441 |
| ROCE % | 1% | -2% | 3% | 2% | -1% | 7% | 9% | 1% | -2% | 5% | 4% | 4% |
Documents
2
The Record Date For The Payment Of Dividend For FY 2025-26 Is 04Th September, 2026
5h - Board approved FY26 audited results, recommended Rs1.50 final dividend, and set 4 Sept 2026 record date. 5h - Board approved FY26 audited results, recommended Rs1.50 final dividend, and set 4 Sept 2026 record date.
3
Board Meeting Outcome for Outcome Of The Board Meeting Held On 11Th May, 2026
5h - Board approved FY26 audited results, recommended Rs1.50 final dividend, record date 4 September 2026. 5h - Board approved FY26 audited results, recommended Rs1.50 final dividend, record date 4 September 2026.
4
Announcement under Regulation 30 (LODR)-Investor Presentation
4h - Investors Presentation for the Quarter and Year ended on 31.03.2026 4h - Investors Presentation for the Quarter and Year ended on 31.03.2026
5
Cancellation Of Investors Meet Scheduled On 12Th May, 2026.
1d - Scheduled Q4 FY26 investor conference call on 12 May 2026 cancelled; revised schedule to be announced. 1d - Scheduled Q4 FY26 investor conference call on 12 May 2026 cancelled; revised schedule to be announced.
Frequently Asked Questions about New India Assurance Company Ltd
What does New India Assurance Company Ltd do?
New India Assurance Company Ltd is India's largest non-life insurance company. It is promoted by the Government of India (GoI) holding ~86% stake.
It was established by Sir Dorabji Tata in 1919 and was nationalised in 1973. Post nationalisation, it became one of 4 subsidiaries of General Insuranc...
Where is New India Assurance Company Ltd (NIACL) listed?
New India Assurance Company Ltd is listed on the Indian stock exchanges. It is listed on NSE: NIACL and BSE: 540769. You can view its live share price, financials, and ratios on Tapetide.
Which sector does New India Assurance Company Ltd belong to?
New India Assurance Company Ltd operates in the Insurance sector within the General Insurance industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of New India Assurance Company Ltd?
New India Assurance Company Ltd has a market capitalisation of approximately ₹30173.23 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of New India Assurance Company Ltd?
The Price-to-Earnings (PE) ratio of New India Assurance Company Ltd is 39.33. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of New India Assurance Company Ltd?
Over the past 52 weeks, New India Assurance Company Ltd has traded between a low of ₹116.97 and a high of ₹218. This range helps investors understand the stock's price volatility and recent trading levels.
Does New India Assurance Company Ltd pay dividends?
Yes, New India Assurance Company Ltd has a dividend yield of 0.82%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of New India Assurance Company Ltd?
New India Assurance Company Ltd has a Return on Equity (ROE) of 4.74%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research New India Assurance Company Ltd on Tapetide?
On Tapetide, you can view New India Assurance Company Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
New India Assurance Company Ltd is India's largest non-life insurance company. It is promoted by the Government of India (GoI) holding ~86% stake. It was established by Sir Dorabji Tata in 1919 and was nationalised in 1973. Post nationalisation, it became one of 4 subsidiaries of General Insurance Company of India (GIC) but gained autonomy after GIC became a re-insurance company in 1999.[1]
Website newindia.co.in
CEO Mr. James Day
Employees 10,949
Listed 2017-11-13
Face Value ₹ 5
Issued Size 1,64,80,00,000