Niva Bupa Health Insurance Company Ltd.

•

nivabupa.comBSE: 544286NSE: NIVABUPA

Market Cap₹ 14,718 Cr.

Current Price

High / Low₹ 91 / 68

Stock P/E40.9

Book Value₹ 21

Price to Book4.03

Dividend Yield0.00 %

ROCE3.7 %

ROE4.2 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Financial Services

Buy

Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.

Confidence

84%

View full sector analysis →

PROS

Latest quarter profit grew 92.9% YoY, showing strong momentum
Attractively priced for its growth - PEG of 0.3
Institutional investors have been accumulating - FII+DII up 2.4pp
Company converts assets efficiently - asset turnover of 1.8x

CONS

Company is loss-making at the operating / net level
Promoter holding has decreased over last 2 years: -44.2pp
Company has a low return on equity of 6.1% over last 3 years
Free cash flow has been persistently negative
Operating margins have contracted to -7.7% from 13.2%
Effective tax rate is unusually low at 0.0% - earnings may be flattered

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Financial ServicesInsuranceInsurance

Part ofNIFTY TOTAL MKT NIFTY 500 NIFTY SMLCAP 250

S.No.	Name
1.	LICI	407.30	8.58	515234.31	2.46	135866.90	23.98	1276231.60	6.69	37.75	-76.97
2.	SBILIFE	1685.00	65.00	169064.40	0.16	7249.30	21.97	200782.10	16.88	14.15	-127.01
3.	HDFCLIFE	514.35	56.58	111747.11	0.41	611.19	11.46	16727.63	15.05	10.01	-98.79
4.	ICICIGI	1487.00	30.60	74290.94	0.91	4031.70	439.66	59500.40	1058.48	23.62	-10.35
5.	ICICIPRULI	460.00	39.63	66756.14	0.36	623.91	61.94	19180.08	17.17	11.82	79.46
6.	GICRE	350.05	6.92	61412.77	3.79	1743.67	-31.10	11097.77	-1.56	22.43	-10.45
7.	NIACL	205.75	44.08	33907.60	0.73	-2391.50	-695.39	97472.80	934.31	5.44	-24.14
8.	STARHEALTH	571.40	39.84	33633.95	0.00	549.73	109.40	4917.20	24.86	9.70	2.89
9.	GODIGIT	253.50	47.63	23452.42	0.00	86.39	-37.55	2006.96	7.61	13.56	-15.23
10.	NIVABUPA	79.57	40.88	14717.62	0.00	137.80	250.70	2273.72	86.37	3.75	-0.22
11.	CANHLIFE	149.55	108.18	14207.25	0.27	281.40	1101.54	20475.20	1138.35	8.35	-112.52

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	900	950	1,218	1,018	1,213	1,136	1,527	1,220	1,422	1,454	1,972	2,274
	1,027	1,071	1,215	1,228	1,387	1,282	1,420	1,464	1,627	1,705	1,773	2,288
Operating Profit	-127	-122	3	-209	-174	-146	107	-244	-205	-252	199	-14
OPM %	-14.06%	-12.82%	0.24%	-20.58%	-14.31%	-12.84%	7.02%	-20.01%	-14.43%	-17.31%	10.07%	-0.63%
	119	126	154	191	187	159	99	153	170	164	143	198
Interest	0	0	0	0	0	0	0	0	0	0	0	9
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0
Profit before Tax	-8	5	157	-19	13	13	206	-91	-35	-88	341	184
Tax %	-0.00%	0.00%	0.00%	-0.00%	0.00%	0.00%	0.00%	-0.00%	-0.00%	-0.00%	-1.16%	25.00%
Net Profit	-8	5	157	-19	13	13	206	-91	-35	-88	345	138
	-0.05	0.03	0.92	-0.11	0.08	0.07	1.13	-0.50	-0.19	-0.47	1.87	0.75

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	0	0	0	0	0	0	0	0	0	0	7,121
	0	0	0	0	0	0	0	0	0	0	7,394
Operating Profit	0	0	0	0	0	0	0	0	0	0	-273
OPM %	—	—	—	—	—	—	—	—	—	—	-3.83%
	1	3	0	0	0	7	6	3	13	1	675
Interest	0	0	0	0	0	0	0	0	0	0	9
Depreciation	0	0	0	0	0	0	0	0	0	0	0
Profit before Tax	-4	23	-48	-62	-50	-197	13	82	214	127	402
Tax %	-0.00%	0.00%	-0.00%	-0.00%	-0.00%	-0.00%	0.00%	0.00%	0.00%	-3.13%	10.44%
Net Profit	-4	23	-48	-62	-50	-197	13	82	214	131	360
EPS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.48	1.17	0.71	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: 118%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: -3%

RETURN ON EQUITY

10 Years:: -6%
5 Years:: -3%
3 Years:: 6%
Last Year:: 4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	926	926	981	1,126	1,350	1,409	1,511	1,700	1,827	1,847
	-693	-670	-719	-780	-773	-901	-680	350	1,231	1,366
	0	0	0	0	0	250	250	250	250	250
	-233	-256	-262	-346	-577	-757	-1,081	1	-0	-11
Total Liabilities	0	0	0	0	0	0	0	2,301	3,308	3,452
	32	37	30	39	46	49	52	58	66	85
Capital Work in Progress	0	0	0	0	0	0	0	1	9	3
Cash & Bank	18	28	30	19	30	59	102	143	220	159
	-50	-65	-60	-58	-76	-108	-154	2,099	3,012	3,205
Total Assets	0	0	0	0	0	0	0	2,301	3,308	3,452

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	77	106	166	214	449	582	1,135	813	1,654	905
Cash from Investing	-24	-43	-120	-303	-374	-761	-829	-1,882	-2,348	-961
Cash from Financing	28	0	55	145	280	374	280	1,110	771	-5
	12	-28	29	-51	164	-49	43	41	78	-62

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Mar 2022	Mar 2023	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	99.50	98.82	55.98	55.98	55.43	55.41	55.36	55.36	55.30
	0.00	0.00	8.85	8.90	10.76	10.72	10.31	10.60	12.09
	0.00	0.00	9.78	9.67	15.02	15.27	16.00	16.45	16.13
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.50	1.18	25.39	25.46	18.78	18.60	18.32	17.59	16.48

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-26

ESOP/ESOS/ESPS

2026-08-26 - Niva Bupa Health Insurance Company Limited has informed the Exchange regarding Allotment of 4,11,000 Equity Shares.

2026-08-20

Credit Rating

2026-08-20 - Niva Bupa Health Insurance Company Limited has informed the Exchange about Credit Rating

2026-08-20

Action(s) taken or orders passed

2026-08-20 - Niva Bupa Health Insurance Company Limited has informed the Exchange about receipt of the Order from the Insurance Regulatory and Development Authority of India

2026-08-13

Shareholders meeting

2026-08-13 - Niva Bupa Health Insurance Company Limited has submitted the Exchange a copy Scrutinizers report of Annual General Meeting held on August 12, 2026

2026-08-12

Shareholders meeting

2026-08-12 - Niva Bupa Health Insurance Company Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 12, 2026

2026-08-11

Updates

2026-08-11 - Niva Bupa Health Insurance Company Limited has informed the Exchange regarding 'Receipt of approval from Insurance Regulatory and Development Authority of India ( IRDAI ) for appointment of Mr. Ashwani Bhatia (DIN: 07423221) as the Chairperson of Niva Bupa Health Insurance Company Limited ( the Company )'.

2026-08-03

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-03 - Niva Bupa Health Insurance Company Limited has informed the Exchange about Transcript

2026-08-03

Copy of Newspaper Publication

2026-08-03 - Niva Bupa Health Insurance Company Limited has informed the Exchange about Copy of Newspaper Publication

2026-07-30

Analysts/Institutional Investor Meet/Con. Call Updates

2026-07-30 - Niva Bupa Health Insurance Company Limited has informed the Exchange about Link of Recording

News

Recent coverage and analyst commentary for NIVABUPA

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Niva Bupa Health Insurance Company Ltd.

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Name

LICI

407.30

8.58

515234.31

2.46

135866.90

23.98

1276231.60

6.69

37.75

-76.97

SBILIFE

1685.00

65.00

169064.40

0.16

7249.30

21.97

200782.10

16.88

14.15

-127.01

HDFCLIFE

514.35

56.58

111747.11

0.41

611.19

11.46

16727.63

15.05

10.01

-98.79

ICICIGI

1487.00

30.60

74290.94

0.91

4031.70

439.66

59500.40

1058.48

23.62

-10.35

ICICIPRULI

460.00

39.63

66756.14

0.36

623.91

61.94

19180.08

17.17

11.82

79.46

GICRE

350.05

6.92

61412.77

3.79

1743.67

-31.10

11097.77

-1.56

22.43

-10.45

NIACL

205.75

44.08

33907.60

0.73

-2391.50

-695.39

97472.80

934.31

5.44

-24.14

STARHEALTH

571.40

39.84

33633.95

0.00

549.73

109.40

4917.20

24.86

9.70

2.89

GODIGIT

253.50

47.63

23452.42

0.00

86.39

-37.55

2006.96

7.61

13.56

-15.23

NIVABUPA

79.57

40.88

14717.62

0.00

137.80

250.70

2273.72

86.37

3.75

-0.22

CANHLIFE

149.55

108.18

14207.25

0.27

281.40

1101.54

20475.20

1138.35

8.35

-112.52

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

900

950

1,218

1,018

1,213

1,136

1,527

1,220

1,422

1,454

1,972

2,274

1,027

1,071

1,215

1,228

1,387

1,282

1,420

1,464

1,627

1,705

1,773

2,288

Operating Profit

-127

-122

-209

-174

-146

107

-244

-205

-252

199

-14

OPM %

-14.06%

-12.82%

0.24%

-20.58%

-14.31%

-12.84%

7.02%

-20.01%

-14.43%

-17.31%

10.07%

-0.63%

119

126

154

191

187

159

153

170

164

143

198

Interest

Depreciation

Profit before Tax

-8

157

-19

206

-91

-35

-88

341

184

Tax %

-0.00%

0.00%

-0.00%

0.00%

-0.00%

-1.16%

25.00%

Net Profit

-8

157

-19

206

-91

-35

-88

345

138

-0.05

0.03

0.92

-0.11

0.08

0.07

1.13

-0.50

-0.19

-0.47

1.87

0.75

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

7,121

7,394

Operating Profit

-273

OPM %

—

-3.83%

675

Interest

Depreciation

Profit before Tax

-4

-48

-62

-50

-197

214

127

402

Tax %

-0.00%

0.00%

-0.00%

0.00%

-3.13%

10.44%

Net Profit

-4

-48

-62

-50

-197

214

131

360

EPS

0.00

0.48

1.17

0.71

—

Dividend Payout %

0.00%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

926

981

1,126

1,350

1,409

1,511

1,700

1,827

1,847

-693

-670

-719

-780

-773

-901

-680

350

1,231

1,366

250

-233

-256

-262

-346

-577

-757

-1,081

-0

-11

Total Liabilities

2,301

3,308

3,452

Capital Work in Progress

Cash & Bank

102

143

220

159

-50

-65

-60

-58

-76

-108

-154

2,099

3,012

3,205

Total Assets

2,301

3,308

3,452

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

106

166

214

449

582

1,135

813

1,654

905

Cash from Investing

-24

-43

-120

-303

-374

-761

-829

-1,882

-2,348

-961

Cash from Financing

145

280

374

280

1,110

771

-5

-28

-51

164

-49

-62

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Mar 2022

Mar 2023

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

99.50

98.82

55.98

55.43

55.41

55.36

55.30

0.00

8.85

8.90

10.76

10.72

10.31

10.60

12.09

0.00

9.78

9.67

15.02

15.27

16.00

16.45

16.13

Government

0.00

0.50

1.18

25.39

25.46

18.78

18.60

18.32

17.59

16.48

Niva Bupa Health Insurance Company Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Niva Bupa Health Insurance Company Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI