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New India Assurance Co. Ltd.
(NIACL)
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Rating:63Neutral
Price Target:
₹219.00
▲(26.44% Upside)
Action:Reiterated
Date:09/09/26
The score is anchored by solid but mixed financials: a debt-free balance sheet and continued profitability are positives, but thin margins and historically volatile operating/free cash flow reduce confidence in earnings quality. Technicals are supportive with clear strength versus key moving averages and positive MACD, while valuation is a headwind due to a high P/E and low dividend yield.
Positive Factors
Debt-free balance sheet
The absence of reported debt gives NIACL substantial financial flexibility and reduces interest and refinancing pressure. A conservative balance sheet can help the insurer absorb claims volatility, support underwriting capacity, and preserve capital for business needs over the coming quarters.
Negative Factors
Volatile cash generation
Several consecutive years of negative operating and free cash flow indicate uneven conversion of reported earnings into cash. Although FY2026 improved, the sharp historical swing raises uncertainty about internally generated funding and could constrain flexibility if cash generation weakens again.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
The absence of reported debt gives NIACL substantial financial flexibility and reduces interest and refinancing pressure. A conservative balance sheet can help the insurer absorb claims volatility, support underwriting capacity, and preserve capital for business needs over the coming quarters.
Read all positive factors
New India Assurance Co. Ltd. (NIACL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹326.55B
Dividend Yield0.76%
Average Volume (3M)566.62K
Price to Earnings (P/E)42.4
Beta (1Y)1.75
Revenue Growth9.55%
EPS Growth-35.77%
CountryIN
Employees10,404
SectorGeneral
Sector StrengthN/A
IndustryInsurance - Diversified
Share Statistics
EPS (TTM)8.58
Shares Outstanding1,648,000,000
10 Day Avg. Volume1,334,618
30 Day Avg. Volume566,616
Financial Highlights & Ratios
PEG Ratio0.38
Price to Book (P/B)0.51
Price to Sales (P/S)0.38
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 TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)9.29
Revenue Forecast (FY)₹464.35B
New India Assurance Co. Ltd. Business Overview & Revenue Model
Company Description
The New India Assurance Company Limited, operating with its subsidiaries, functions as a global general insurance provider, serving markets both within India and internationally. Its extensive portfolio encompasses a broad spectrum of insurance pr...
How the Company Makes Money
NIACL makes money primarily through (1) underwriting income from general insurance premiums and (2) investment income from investing the funds it holds.
1) Underwriting (premium-based) revenue
- Gross written premium: NIACL sells general insuranc...
New India Assurance Co. Ltd. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
78
Positive
Cash Flow
45
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 507.40B | 440.64B | 442.69B | 418.35B | 365.32B |
| Gross Profit | 126.80B | 398.96B | 406.40B | 386.34B | 335.24B |
| EBITDA | 13.84B | 11.74B | 15.31B | 14.58B | 3.48B |
| Net Income | 14.14B | 10.37B | 11.16B | 10.48B | 1.95B |
Balance Sheet | |||||
| Total Assets | 1.10T | 1.10T | 1.07T | 982.23B | 964.96B |
| Cash, Cash Equivalents and Short-Term Investments | 192.90B | 177.10B | 171.92B | 153.93B | 138.19B |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 717.56B | 655.40B | 626.36B | 723.02B | 706.36B |
| Stockholders Equity | 385.41B | 441.83B | 454.39B | 392.96B | 398.54B |
Cash Flow | |||||
| Free Cash Flow | 8.42B | -35.06B | -47.41B | -59.53B | -41.68B |
| Operating Cash Flow | 9.22B | -33.90B | -46.72B | -58.55B | -40.52B |
| Investing Cash Flow | -36.19B | 46.91B | 68.86B | 53.87B | 48.93B |
| Financing Cash Flow | -2.97B | -3.43B | -3.26B | -647.70M | -56.55M |
New India Assurance Co. Ltd. Technical Analysis
Positive
173.20
Price Trends
183.80
Positive
174.43
Positive
161.58
Positive
Market Momentum
7.11
Negative
53.07
Neutral
29.75
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NIACL, the sentiment is Positive. The current price of 173.2 is below the 20-day moving average (MA) of 194.54, below the 50-day MA of 183.80, and above the 200-day MA of 161.58, indicating a bullish trend. The MACD of 7.11 indicates Negative momentum. The RSI at 53.07 is Neutral, neither overbought nor oversold. The STOCH value of 29.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:NIACL.
New India Assurance Co. Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹728.92B | 29.92 | ― | 0.92% | 11.82% | -9.68% | |
69 Neutral | ₹236.70B | 48.07 | ― | ― | 8.56% | 6.40% | |
69 Neutral | ₹330.92B | 39.24 | ― | ― | 20.55% | 42.94% | |
63 Neutral | ₹326.55B | 42.39 | ― | 0.76% | 9.55% | -35.77% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:NIACL
New India Assurance Co. Ltd.
198.15
6.73
3.52%
IN:GODIGIT
Go Digit General Insurance Limited
255.85
-100.00
-28.10%
IN:ICICIGI
ICICI Lombard General Insurance Co. Ltd.
1,459.00
-427.53
-22.66%
IN:STARHEALTH
Star Health & Allied Insurance Co. Ltd.
562.20
122.55
27.87%
New India Assurance Co. Ltd. Corporate Events
New India Assurance appoints two statutory auditors for FY 2026-27
Sep 9, 2026
New India Assurance Company Ltd. has announced the appointment of M/s S Ramanand Aiyar Co and M/s Chokshi Chokshi LLP as its statutory auditors for the financial year 2026-27, following their selection by the Comptroller Auditor General of Indi...
New India Assurance releases Q1 FY 2026 investor presentation
Jul 24, 2026
New India Assurance has released its investor presentation for the quarter ended 30 June 2026, providing shareholders and analysts with an overview of its financial and operational performance. The presentation, now available on the company’...
New India Assurance Publishes IEPF Share Transfer Notice to Equity Holders
Jul 12, 2026
The New India Assurance Company Ltd. has notified exchanges that it has published a notice to its equity shareholders regarding the transfer of certain equity shares to the Investor Education and Protection Fund (IEPF) account, as required under r...
New India Assurance Sets July 27, 2026 Virtual AGM for Shareholders
Jul 5, 2026
The New India Assurance Company Ltd. has scheduled its 107th Annual General Meeting for July 27, 2026, at 11:30 a.m., to be conducted via video conferencing and other audio-visual means. The AGM notice has been filed with BSE and NSE and is being ...
New India Assurance Advances Record Date for FY 2025-26 Dividend
Jun 25, 2026
The New India Assurance Company Ltd., a government-owned general insurer listed on BSE and NSE, provides a wide array of non-life insurance products to individuals and businesses across India. As a key public sector player, it operates under the o...
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.