New India Assurance Co. Ltd. (IN:NIACL)
:NIACL
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New India Assurance Co. Ltd.
(NIACL)
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Rating:66Neutral
Price Target:
₹178.00
▲(13.38% Upside)
Action:Reiterated
Date:05/15/26
The score is primarily driven by mixed financial performance: a strong, debt-free balance sheet is offset by thin profitability and historically volatile cash flows (despite a FY2026 improvement). Technicals add support with a generally positive trend and momentum, while valuation is reasonable but not compelling due to only a modest dividend yield.
Positive Factors
Debt-free balance sheet / low leverage
A debt-free balance sheet gives NIACL durable financial flexibility to underwrite large losses, invest the insurance float and support reserves without refinancing. Low leverage reduces insolvency risk, preserves rating resilience and enables strategic capital allocation over time.
Negative Factors
Thin and volatile profitability
Low and volatile net and operating margins limit the firm's ability to build retained earnings and absorb claim shocks. Thin profitability increases sensitivity to underwriting loss cycles and constrains reinvestment capacity, making earnings less resilient over time.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet / low leverage
A debt-free balance sheet gives NIACL durable financial flexibility to underwrite large losses, invest the insurance float and support reserves without refinancing. Low leverage reduces insolvency risk, preserves rating resilience and enables strategic capital allocation over time.
Read all positive factors
New India Assurance Co. Ltd. (NIACL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹269.45B
Dividend Yield1.18%
Average Volume (3M)49.59K
Price to Earnings (P/E)8.4
Beta (1Y)1.66
Revenue Growth13.30%
EPS Growth36.29%
CountryIN
Employees11,938
SectorFinancial
Sector Strength70
IndustryInsurance - Diversified
Share Statistics
EPS (TTM)7.06
Shares Outstanding1,648,000,000
10 Day Avg. Volume33,983
30 Day Avg. Volume49,594
Financial Highlights & Ratios
PEG Ratio0.38
Price to Book (P/B)0.51
Price to Sales (P/S)0.39
P/FCF Ratio23.12
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹175.00Price Target Upside11.46% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)8
Revenue Forecast (FY)₹516.97B
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 by underwriting non-life insurance policies and earning premiums in exchange for taking on insured risks. Its main revenue streams are: (1) Net premium income: policyholders pay premiums for coverage across lines such a...
New India Assurance Co. Ltd. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
78
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 480.54B | 501.47B | 440.64B | 442.69B | 418.35B | 365.32B |
| Gross Profit | 437.07B | 472.44B | 398.96B | 406.40B | 386.34B | 335.24B |
| EBITDA | 10.49B | 12.04B | 11.74B | 15.31B | 14.58B | 3.48B |
| Net Income | 11.62B | 14.14B | 10.37B | 11.16B | 10.48B | 1.95B |
Balance Sheet | ||||||
| Total Assets | 1.11T | 1.10T | 1.10T | 1.07T | 982.23B | 964.96B |
| Cash, Cash Equivalents and Short-Term Investments | 154.49B | 192.90B | 177.10B | 171.92B | 153.93B | 138.19B |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 671.14B | 717.56B | 655.40B | 626.36B | 723.02B | 706.36B |
| Stockholders Equity | 435.44B | 385.41B | 441.83B | 454.39B | 392.96B | 398.54B |
Cash Flow | ||||||
| Free Cash Flow | -41.05B | 8.42B | -35.06B | -47.41B | -59.53B | -41.68B |
| Operating Cash Flow | -40.71B | 9.22B | -33.90B | -46.72B | -58.55B | -40.52B |
| Investing Cash Flow | 8.07B | -36.19B | 46.91B | 68.86B | 53.87B | 48.93B |
| Financing Cash Flow | -2.97B | -2.97B | -3.43B | -3.26B | -647.70M | -56.55M |
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 |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹889.31B | 38.98 | ― | 0.69% | 12.68% | 9.94% | |
70 Outperform | ₹305.65B | 60.52 | ― | ― | 18.38% | -14.07% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | ₹269.45B | 8.39 | ― | 1.18% | 13.30% | 36.29% | |
62 Neutral | ₹287.70B | 49.37 | ― | ― | 8.39% | 27.09% |
* Financial Sector Average
IN:NIACL
New India Assurance Co. Ltd.
166.15
-9.21
-5.25%
IN:GODIGIT
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IN:ICICIGI
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1,801.15
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IN:STARHEALTH
Star Health & Allied Insurance Co. Ltd.
526.10
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17.39%
New India Assurance Co. Ltd. Corporate Events
New India Assurance Clears FY26 Results, Declares Dividend and Plans RTA Transition
May 11, 2026
The board of New India Assurance approved the audited financial results for the quarter and year ended 31 March 2026, confirming compliance with SEBI and IRDAI disclosure norms despite a qualified audit opinion. The company also recommended a fina...
New India Assurance clears FY26 results, sets record date for dividend
May 11, 2026
New India Assurance’s board has approved the audited financial results for the quarter and full year ended 31 March 2026, following a meeting held in Mumbai via hybrid mode. The auditors issued a qualified opinion but confirmed the results p...
New India Assurance Files FY2026 Investor Presentation with Exchanges
May 11, 2026
The New India Assurance Company Ltd. has submitted an investor presentation covering its results for the quarter and financial year ended 31 March 2026 to the stock exchanges. The company has also made this presentation available on its website, s...
New India Assurance Cancels Scheduled Investor Call, Plans to Reschedule
May 10, 2026
The New India Assurance Company Limited has notified stock exchanges that its planned conference call with analysts and institutional investors to discuss its financial performance for the quarter and year ended 31 March 2026 has been cancelled du...
New India Assurance Extends Trading Window Closure Ahead of FY26 Results
Apr 30, 2026
The New India Assurance Company Ltd. has announced a revised closure period for its trading window under SEBI’s Prohibition of Insider Trading Regulations, 2015, applicable to all designated persons and their immediate relatives. The window,...
CRISIL Reaffirms AAA/Stable Rating for New India Assurance
Apr 17, 2026
The New India Assurance Company Limited has had its CRISIL AAA/Stable credit rating reaffirmed by Crisil Ratings, indicating the highest degree of safety for timely servicing of debt obligations. This rating signals that debt exposures to the insu...
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.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.