Niva Bupa Health Insurance Company Ltd
NIVABUPA NSE
Niva Bupa Health Insurance Company Ltd
InsuranceNSE: NIVABUPA BSE: 544286 General Insurance
Key Fundamentals
SmallcapGeneral InsuranceInsuranceMarket Cap
₹15,274 Cr
Volatility
Moderate
P/E Ratio
88.6
EBITDA
₹163 Cr
Return on Equity
3.45%
Debt to Equity
0.07
Book Value
₹20.48
52W High
₹91.4
52W Low
₹67.5
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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31 extracted metrics + investor summaries across FY19–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
2- Company has reduced debt.
- Company has delivered good profit growth of 35.9% CAGR over last 5 years
Weaknesses
1- Company has a low return on equity of 5.20% over last 3 years.
Growth Rate
Revenue Growth
21.10% ↗
Net Income Growth
-38.74% ↘
Cash Flow Change
-45.31% ↘
ROE
-39.05% ↘
ROCE
-57.29% ↘
EBITDA Margin (Avg.)
-43.62% ↘
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 5d agoAI opinion · based on fundamentals
Risk high
Niva Bupa Health Insurance trades at a market cap of Rs 15,591 Cr with a PE of 89.5x and price-to-book of 4.11x. The company has delivered strong revenue growth at 33% CAGR over 3 years but reported a 43% TTM profit decline, with 3-year average ROE at a modest 5%.
Bull Case 7
- Strong revenue momentum with TTM sales growth of 28% and 3-year compounded sales CAGR of 33%, indicating robust demand for health insurance products
- 5-year compounded sales CAGR of 36% demonstrates sustained long-term top-line expansion well above industry averages
- Company is almost debt-free, providing financial flexibility and lower risk during economic downturns
- 5-year compounded profit CAGR of 35.9% shows the business has been able to scale profitability over the medium term
- 3-year compounded profit CAGR of 127% reflects a sharp turnaround from earlier losses to consistent profitability
- Operating in India's underpenetrated health insurance sector which has structural tailwinds from rising healthcare costs, post-COVID awareness, and low insurance penetration at under 5% of GDP
- Debt-free balance sheet allows the company to invest aggressively in distribution and product innovation without servicing costs
Bear Case 8
- PE ratio of 89.5x is elevated, implying the stock prices in significant future growth and leaves limited margin of safety
- TTM profit declined 43%, a sharp reversal from prior growth trajectory, raising concerns about claims ratio or cost pressures
- 3-year average ROE of only 5% and last year ROE of 3% indicate poor capital efficiency relative to the valuation premium
- Trading at 4.11x book value despite low ROE of 5%, suggesting the stock may be pricing in outcomes not yet reflected in fundamentals
- Zero dividend yield with no payout despite reporting profits, offering no return to shareholders while ROE remains low
- 1-year stock CAGR of only 3% suggests the market has already tempered expectations after the initial listing enthusiasm
- Health insurance is a competitive sector with public sector players, large private insurers, and new entrants potentially compressing margins over time
- Last year ROE dropped to 3% from the 3-year average of 5%, indicating a deteriorating return profile rather than an improving one
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 8h ago Positives 1
- Q1 profit surges 93% YoY Jul 30
Niva Bupa reported 93% YoY rise in net profit to ₹1,378 lakh for Q1FY27 (quarter ended June 30, 2026). Board also approved raising up to ₹500 crore via private placement of NCDs to strengthen capital base.
Neutral 3
- IRDAI approves new Chairperson Aug 11
IRDAI approved appointment of Ashwani Bhatia as Chairperson effective June 3, 2026, with formal nod received on August 10, 2026.
- 18th AGM concludes routinely Aug 12
Shareholders approved reappointment of directors, auditor fees, and remuneration revisions for key executives at the 18th AGM held August 12, 2026.
- Q1 earnings call scheduled Jul 27
Company hosted Q1FY27 earnings conference call on July 30, 2026 at 17:30 IST to discuss business performance for quarter ended June 30, 2026.
TL;DR: Niva Bupa is showing strong profit momentum with a 93% YoY jump in Q1FY27 net profit, and is proactively raising capital via NCDs. Leadership transition is orderly with IRDAI-approved chairperson appointment. No visible headwinds in recent news flow. The trend is improving, and capital-raising signals confidence in growth ahead.
Quarterly Results
| 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 | 969 | 1,026 | 1,316 | 1,124 | 1,321 | 1,258 | 1,671 | 1,932 | 1,574 | 1,611 | 2,251 | 2,471 |
| Expenses | 1,027 | 1,071 | 1,215 | 1,228 | 1,387 | 1,282 | 1,420 | 1,834 | 1,627 | 1,705 | 2,069 | 2,287 |
| Operating Profit | -58 | -46 | 100 | -103 | -66 | -24 | 251 | 98 | -53 | -94 | 182 | 184 |
| OPM % | -6% | -4.4% | 8% | -9% | -5% | -1.9% | 15% | 5% | -3.4% | -6% | 8% | 7% |
| Other Income | 50 | 50 | 57 | 84 | 79 | 37 | -45 | 0 | 18 | 7 | -1 | 0 |
| Interest | 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 |
| PBT | -8 | 5 | 157 | -19 | 13 | 13 | 206 | 98 | -35 | -88 | 181 | 184 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 27% | 0% | 0% | 12% | 25% |
| Net Profit | -8 | 5 | 157 | -19 | 13 | 13 | 206 | 71 | -35 | -88 | 159 | 138 |
| EPS in Rs | — | — | — | — | — | 0.07 | 1.13 | 0.39 | -0.19 | -0.47 | 0.86 | 0.75 |
Profit & Loss
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 851 | 1,057 | 1,413 | 1,877 | 2,853 | 4,115 | 5,374 | 6,695 | 7,907 |
| Expenses | 880 | 1,094 | 1,435 | 2,328 | 3,183 | 4,228 | 5,292 | 6,534 | 7,689 |
| Operating Profit | -29 | -37 | -22 | -451 | -330 | -113 | 83 | 160 | 218 |
| OPM % | -3.4% | -3.5% | -1.5% | -24% | -12% | -2.7% | 1.5% | 2.4% | 2.8% |
| Other Income | 0 | 0 | 0 | 281 | 374 | 224 | 155 | 2 | 23 |
| Interest | 3 | 4 | 6 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 16 | 21 | 22 | 27 | 32 | 29 | 25 | 36 | 0 |
| PBT | -48 | -62 | -50 | -197 | 13 | 82 | 214 | 127 | 242 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -3% | — |
| Net Profit | -48 | -62 | -50 | -197 | 13 | 82 | 214 | 131 | 174 |
| EPS in Rs | — | — | — | — | — | — | 1.17 | 0.71 | 0.95 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 981 | 1,126 | 1,350 | 1,409 | 1,511 | 1,700 | 1,827 | 1,847 |
| Reserves | -719 | -780 | -773 | -903 | -683 | 351 | 1,949 | 1,939 |
| Borrowings | 0 | 0 | 0 | 250 | 250 | 250 | 250 | 250 |
| Other Liabilities | 737 | 891 | 1,322 | 1,983 | 2,799 | 3,891 | 5,735 | 7,240 |
| Total Liabilities | 1,000 | 1,237 | 1,899 | 2,738 | 3,877 | 6,192 | 9,760 | 11,276 |
| Fixed Assets | 30 | 39 | 46 | 49 | 52 | 58 | 66 | 85 |
| CWIP | 2 | 2 | 2 | 1 | 4 | 1 | 9 | 3 |
| Investments | 816 | 1,067 | 1,622 | 2,401 | 3,366 | 5,458 | 8,175 | 9,670 |
| Other Assets | 152 | 129 | 230 | 287 | 455 | 675 | 1,510 | 1,518 |
| Total Assets | 1,000 | 1,237 | 1,899 | 2,738 | 3,877 | 6,192 | 9,760 | 11,276 |
Cash Flow
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Operating | — | — | 257 | 338 | 593 | 813 | 1,654 | 905 |
| Investing | — | — | -374 | -723 | -829 | -1,882 | -2,348 | -961 |
| Financing | — | — | 280 | 374 | 280 | 1,110 | 771 | -5 |
| Net Cash Flow | — | — | 164 | -12 | 43 | 41 | 78 | -62 |
| Free Cash Flow | — | — | 229 | 309 | 555 | 780 | 1,614 | 857 |
| CFO/OP | — | — | -1,180 | -75 | -180 | -720 | 2,000 | 577 |
Ratios
| 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 |
| Cash Conversion Cycle | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Working Capital Days | -264 | -270 | -290 | -341 | -313 | -298 | -351 | -354 |
| ROCE % | — | -19% | -10% | -30% | 1% | 5% | 7% | 3% |
Documents
2
Announcement under Regulation 30 (LODR)-Press Release / Media Release
2d - Niva Bupa reported FY26 PAT of ₹366 crore, GWP ₹8,586 crore, and 80% PAT growth. 2d - Niva Bupa reported FY26 PAT of ₹366 crore, GWP ₹8,586 crore, and 80% PAT growth.
3
Announcement under Regulation 30 (LODR)-Change in Directorate
8 May - Board appointed two directors, elevated Ankur Kharbanda to Deputy CEO, granted 12.25 million ESOPs; two directors resigned. 8 May - Board appointed two directors, elevated Ankur Kharbanda to Deputy CEO, granted 12.25 million ESOPs; two directors resigned.
4
Announcement under Regulation 30 (LODR)-Change in Management
8 May - Board approved two non-executive appointments, Ankur Kharbanda’s elevation, 12.25 million ESOPs, and two resignations effective May 8, 2026. 8 May - Board approved two non-executive appointments, Ankur Kharbanda’s elevation, 12.25 million ESOPs, and two resignations effective May 8, 2026.
5
Grant Of Stock Options
8 May - Board appointed two non-executive directors, elevated Ankur Kharbanda to Deputy CEO, approved 12.25 million ESOPs, noted two resignations. 8 May - Board appointed two non-executive directors, elevated Ankur Kharbanda to Deputy CEO, approved 12.25 million ESOPs, noted two resignations.
Frequently Asked Questions about Niva Bupa Health Insurance Company Ltd
What does Niva Bupa Health Insurance Company Ltd do?
Incorporated in 2008, Niva Bupa Health Insurance Ltd is a Tech driven leading health insurer in India.[1]
Where is Niva Bupa Health Insurance Company Ltd (NIVABUPA) listed?
Niva Bupa Health Insurance Company Ltd is listed on the Indian stock exchanges. It is listed on NSE: NIVABUPA and BSE: 544286. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Niva Bupa Health Insurance Company Ltd belong to?
Niva Bupa Health Insurance 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 Niva Bupa Health Insurance Company Ltd?
Niva Bupa Health Insurance Company Ltd has a market capitalisation of approximately ₹15273.56 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Niva Bupa Health Insurance Company Ltd?
The Price-to-Earnings (PE) ratio of Niva Bupa Health Insurance Company Ltd is 88.60. 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 Niva Bupa Health Insurance Company Ltd?
Over the past 52 weeks, Niva Bupa Health Insurance Company Ltd has traded between a low of ₹67.5 and a high of ₹91.4. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of Niva Bupa Health Insurance Company Ltd?
Niva Bupa Health Insurance Company Ltd has a Return on Equity (ROE) of 3.45%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Niva Bupa Health Insurance Company Ltd on Tapetide?
On Tapetide, you can view Niva Bupa Health Insurance 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
Incorporated in 2008, Niva Bupa Health Insurance Ltd is a Tech driven leading health insurer in India.[1]