New India Assurance Co. Ltd. (IN:NIACL)
:NIACL
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New India Assurance Co. Ltd.
(NIACL)
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Rating:52Neutral
Price Target:
₹125.00
▼(-20.38% Downside)
Action:N/ADate:01/04/26
The score is held back primarily by weak cash flow quality (repeated negative operating/free cash flow) and a notable 2025 revenue decline, despite a conservative, no-debt balance sheet. Technicals also remain bearish with the stock trading below major moving averages and a negative MACD, while valuation is neutral with a mid P/E and modest dividend yield.
Positive Factors
Conservative balance sheet (no debt)
No reported debt materially reduces financial leverage and solvency risk for a general insurer. Over 2–6 months this strengthens capital resilience against underwriting losses or catastrophes, preserves rating and reinsurance access, and gives flexibility to deploy equity into underwriting or investments without refinancing risk.
Negative Factors
Weak cash generation
Repeated negative operating and free cash flow despite reported net income indicates earnings-to-cash volatility. Over months this constrains the company's ability to fund claims, invest reserves, or expand underwriting without drawing on capital, reinsurance or external financing, limiting strategic flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet (no debt)
No reported debt materially reduces financial leverage and solvency risk for a general insurer. Over 2–6 months this strengthens capital resilience against underwriting losses or catastrophes, preserves rating and reinsurance access, and gives flexibility to deploy equity into underwriting or investments without refinancing risk.
Read all positive factors
New India Assurance Co. Ltd. (NIACL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹204.85B
Dividend Yield1.18%
Average Volume (3M)49.59K
Price to Earnings (P/E)16.9
Beta (1Y)1.45
Revenue GrowthN/A
EPS GrowthN/A
CountryIN
Employees11,938
SectorFinancial
Sector Strength70
IndustryInsurance - Diversified
Share Statistics
EPS (TTM)2.31
Shares Outstanding1,648,000,000
10 Day Avg. Volume33,983
30 Day Avg. Volume49,594
Financial Highlights & Ratios
PEG Ratio-3.54
Price to Book (P/B)0.59
Price to Sales (P/S)0.59
P/FCF Ratio-7.43
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)13.12
Revenue Forecast (FY)₹500.71B
New India Assurance Co. Ltd. Business Overview & Revenue Model
Company Description
The New India Assurance Company Limited, together with its subsidiaries, operates as a general insurance company in India and internationally. The company provides marine cargo and hull, motor, health, travel, home and contents, customized busines...
How the Company Makes Money
NIACL primarily makes money through (1) underwriting income from general insurance policies and (2) investment income on premiums (the insurance “float”). Underwriting income is generated by collecting gross written premiums from policyholders acr...
New India Assurance Co. Ltd. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
78
Positive
Cash Flow
34
Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 480.54B | 440.64B | 442.69B | 418.35B | 365.32B | 336.03B |
| Gross Profit | 437.07B | 398.96B | 406.40B | 386.34B | 335.24B | 306.65B |
| EBITDA | 10.49B | 11.74B | 15.31B | 14.58B | 3.48B | 24.89B |
| Net Income | 11.62B | 10.37B | 11.16B | 10.48B | 1.95B | 16.40B |
Balance Sheet | ||||||
| Total Assets | 1.11T | 1.10T | 1.07T | 982.23B | 964.96B | 924.70B |
| Cash, Cash Equivalents and Short-Term Investments | 154.49B | 177.10B | 171.92B | 153.93B | 138.19B | 139.39B |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 671.14B | 655.40B | 626.36B | 723.02B | 706.36B | 668.66B |
| Stockholders Equity | 435.44B | 441.83B | 454.39B | 392.96B | 398.54B | 384.93B |
Cash Flow | ||||||
| Free Cash Flow | -41.05B | -35.06B | -47.41B | -59.53B | -41.68B | 6.78B |
| Operating Cash Flow | -40.71B | -33.90B | -46.72B | -58.55B | -40.52B | 7.77B |
| Investing Cash Flow | 8.07B | 46.91B | 68.86B | 53.87B | 48.93B | -5.93B |
| Financing Cash Flow | -2.97B | -3.43B | -3.26B | -647.70M | -56.55M | 768.01M |
New India Assurance Co. Ltd. Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹300.37B | 56.68 | ― | ― | ― | ― | |
72 Outperform | ₹861.25B | 37.02 | ― | 0.69% | 14.43% | 25.13% | |
70 Outperform | ₹670.62B | 9.68 | ― | 2.69% | ― | ― | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
52 Neutral | ₹204.85B | 16.90 | ― | 1.18% | ― | ― |
* Financial Sector Average
IN:NIACL
New India Assurance Co. Ltd.
124.30
-31.19
-20.06%
IN:GICRE
General Insurance Corporation of India
382.25
-5.75
-1.48%
IN:GODIGIT
Go Digit General Insurance Limited
324.90
43.60
15.50%
IN:ICICIGI
ICICI Lombard General Insurance Co. Ltd.
1,727.70
-37.03
-2.10%
New India Assurance Co. Ltd. Corporate Events
New India Assurance Wins Appeal as Rs 672 Crore Tax Demand Scrapped
Feb 27, 2026
The New India Assurance Company Ltd. has disclosed that it received a favourable order from the National Faceless Appeal Centre of the Income Tax Department for the assessment year 2022-23. The authority deleted an income tax demand of Rs. 6,72,36...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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