NIVABUPA
Niva Bupa Health Insurance Company Limited
Niva Bupa Health Insurance Company Limited (NIVABUPA) financial statements and selected valuation metrics through 31 March 2026.
Financial Services›Financial Services›Insurance›General Insurance
nivabupa.com(opens the company website in a new tab)Key metrics
Price as of 2026-10-19
Full years shown; sign in free for the trailing twelve months. Learn about these metrics →
Price & valuation
Share price and valuation multiples (P/E, P/B and more) over time.
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What you need to know
Niva Bupa sells health insurance in India to retail customers, plus group cover for employers and small businesses, through agents, bank partners and digital channels.
Company snapshot
6thBy market cap
Ranked among 6 companies in General Insurance.
What we see
- ✓Cash flow from operations is higher than reported profit — earnings quality looks solid.
- ✗Net margin is very thin at 1.9% — little room for error if costs rise.
Statement tables · Standalone
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Standalone only
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Insurance layout · ₹ Cr · quarterly
| Metric | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Premium | 1,672 Cr | 1,288 Cr | 1,450 Cr | 1,767 Cr | 2,302 Cr |
| Expenses | 313 Cr | 244 Cr | 308 Cr | 317 Cr | 306 Cr |
| Operating profit | 1,359 Cr | 1,044 Cr | 1,142 Cr | 1,450 Cr | 1,995 Cr |
| Investment income | — | — | — | — | — |
| Other income | -56 Cr | 2 Cr | 18 Cr | 7 Cr | -25 Cr |
| Profit before tax | 206 Cr | -91 Cr | -35 Cr | -88 Cr | 341 Cr |
| Tax % | 0.0% | 0.0% | 0.0% | 0.0% | -1.2% |
| Net profit | 206 Cr | -91 Cr | -35 Cr | -88 Cr | 345 Cr |
| EPS (₹) | ₹1.13 | ₹-0.50 | ₹-0.19 | ₹-0.47 | ₹1.87 |
Profit & loss (annual)
Annual insurance P&L · TTM where available · ₹ Cr
| Metric | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|
| Premium | 1,753 Cr | 2,663 Cr | 3,811 Cr | 5,369 Cr | 6,806 Cr | Sign in free for the trailing twelve months |
| Expenses | — | — | — | 1,083 Cr | 1,175 Cr | Sign in free for the trailing twelve months |
| Operating profit | — | — | — | 4,286 Cr | 5,632 Cr | Sign in free for the trailing twelve months |
| Investment income | — | — | — | — | — | Sign in free for the trailing twelve months |
| Other income | — | — | — | 142 Cr | 1 Cr | Sign in free for the trailing twelve months |
| Profit before tax | -197 Cr | 13 Cr | 82 Cr | 214 Cr | 127 Cr | Sign in free for the trailing twelve months |
| Tax % | — | — | — | 0.0% | -3.1% | Sign in free for the trailing twelve months |
| Net profit | -197 Cr | 13 Cr | 82 Cr | 214 Cr | 131 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | ₹-1.42 | ₹0.09 | ₹0.51 | ₹1.22 | ₹0.71 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | 0.0% | 0.0% | Sign in free for the trailing twelve months |
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Equity capital | 1,409 Cr | 1,511 Cr | 1,700 Cr | 1,827 Cr | 1,847 Cr |
| Reserves | 123 Cr | 331 Cr | 1,283 Cr | 1,950 Cr | 1,959 Cr |
| Borrowings | 250 Cr | 250 Cr | 250 Cr | 250 Cr | 250 Cr |
| Other liabilities | 0.0090 Cr | 0.31 Cr | 0.04 Cr | 5,733 Cr | 7,219 Cr |
| Total liabilities | 1,782 Cr | 2,092 Cr | 3,233 Cr | 9,760 Cr | 11,276 Cr |
| Fixed assets (net) | — | — | — | 75 Cr | 88 Cr |
| CWIP | — | — | — | — | — |
| Investments | — | — | — | 8,175 Cr | 9,670 Cr |
| Cash & bank | 59 Cr | 102 Cr | 143 Cr | 220 Cr | 159 Cr |
| Other assets | 1,723 Cr | 1,990 Cr | 3,090 Cr | 1,289 Cr | 1,360 Cr |
| Total assets | 1,782 Cr | 2,092 Cr | 3,233 Cr | 9,760 Cr | 11,276 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Cash from operating activity | 338 Cr | 593 Cr | 813 Cr | 1,654 Cr | 905 Cr |
| Cash from investing | -723 Cr | -829 Cr | -1,882 Cr | -2,348 Cr | -961 Cr |
| Cash from financing | 374 Cr | 280 Cr | 1,110 Cr | 771 Cr | -5 Cr |
| Net cash flow | -12 Cr | 43 Cr | 41 Cr | 78 Cr | -62 Cr |
| Free cash flow (OCF − Capex) | 309 Cr | 555 Cr | 780 Cr | 1,613 Cr | 856 Cr |
Ratios
| Metric | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| ROCE % | — | — | — | — | — |
| ROE % | -12.8% | 0.7% | 2.7% | 5.7% | 3.4% |
| Debtor days | — | — | — | — | — |
| Inventory days | — | — | — | — | — |
| Days payable | — | — | — | — | — |
| Cash conversion cycle | — | — | — | — | — |
| Debt / equity | 0.16 | 0.14 | 0.08 | 0.07 | 0.07 |
| Current ratio | — | — | — | 0.40 | 0.34 |
| Net debt / EBITDA | — | — | — | — | — |
Regulatory ratios (as filed, standalone basis)
IRDAI ratios as filed with results. Key metrics may show the investor-deck figure, which can differ.
| Metric | Mar 2025 | Mar 2026 |
|---|---|---|
| Solvency ratio | 303.0% | 249.0% |
| Claims ratio | 61.2% | 68.1% |
| Combined ratio | 101.2% | 103.4% |
| Expenses of management ratio | 39.2% | 33.7% |
| Net retention ratio | 79.4% | 79.3% |