New India Assurance Company Ltd

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New India Assurance Company Ltd

₹ 171 -3.34%
21 Nov - close price
newindia.co.in BSE: 540769 NSE: NIACL
About

New India Assurance Company Ltd is India's largest non-life insurance company. It is promoted by the Government of India (GoI) holding ~86% stake.

It was established by Sir Dorabji Tata in 1919 and was nationalised in 1973. Post nationalisation, it became one of 4 subsidiaries of General Insurance Company of India (GIC) but gained autonomy after GIC became a re-insurance company in 1999.[1]

Key Points

Ratios (FY22)
Incurred Claims Ratio - 84%
Commission Ratio - 9%
Expense Ratio - 20%[1]
Adj. Combined Ratio - 97%
Solvency Ratio - 213%[2]
Net Retention Ratio - 81.4%[3]

Website BSE NSE
  • Market Cap ₹ 28,190 Cr.
  • Current Price ₹ 171
  • High / Low ₹ 325 / 169
  • Stock P/E 20.8
  • Book Value ₹ 180
  • Dividend Yield 1.21 %
  • ROCE 5.42 %
  • ROE 4.23 %
  • Face Value ₹ 5.00
Edit ratios

Pros

  • Company is almost debt free.
  • Stock is trading at 0.95 times its book value
  • Company has been maintaining a healthy dividend payout of 21.0%

Cons

  • The company has delivered a poor sales growth of 9.59% over past five years.
  • Company has a low return on equity of 3.07% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Insurance Industry: Finance & Investments

Part of BSE 400 MidSmallCap Index BSE CPSE BSE Allcap BSE 150 MidCap Index Nifty 500

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
9,633 9,430 8,460 8,542 11,541 10,504 10,132 9,840 10,517 11,318 11,658 10,368 10,740
9,536 8,846 9,178 8,398 11,522 9,607 10,013 9,504 10,777 10,449 11,173 10,115 10,608
Operating Profit 96 584 -717 144 19 896 118 336 -260 869 486 253 132
OPM % 1% 6% -8% 2% 0% 9% 1% 3% -2% 8% 4% 2% 1%
33 4 59 4 5 18 41 -25 6 0 34 3 5
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 129 587 -658 148 24 914 159 311 -254 869 520 255 137
Tax % 1% 16% -17% 20% -42% 18% 3% 16% -21% 18% 32% 15% 48%
127 491 -543 118 33 749 155 260 -200 715 354 217 71
EPS in Rs 0.77 2.98 -3.30 0.72 0.20 4.54 0.94 1.58 -1.21 4.34 2.15 1.32 0.43
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
9,478 10,869 13,235 15,104 19,320 19,692 27,514 30,523 32,831 35,642 40,801 43,489 44,084
11,215 13,151 15,516 18,062 19,844 24,464 27,832 28,852 30,797 35,489 39,539 41,995 42,345
Operating Profit -1,736 -2,282 -2,281 -2,958 -524 -4,773 -318 1,671 2,034 153 1,262 1,493 1,739
OPM % -18% -21% -17% -20% -3% -24% -1% 5% 6% 0% 3% 3% 4%
2,814 3,241 4,004 4,031 1,738 7,579 1,051 58 102 90 61 9 42
Interest 3 2 3 3 5 9 0 0 0 0 0 0 0
Depreciation 37 33 24 32 45 72 87 91 98 83 78 57 0
Profit before tax 1,038 923 1,695 1,037 1,164 2,725 645 1,639 2,037 160 1,245 1,445 1,781
Tax % 15% 14% 19% 10% 13% 19% 10% 13% 21% -3% 15% 22%
883 797 1,374 935 1,008 2,201 580 1,418 1,605 164 1,055 1,129 1,357
EPS in Rs 22.08 19.93 34.36 23.36 25.20 13.36 3.52 8.60 9.74 1.00 6.40 6.85 8.24
Dividend Payout % 19% 28% 22% 27% 31% 33% 43% 0% 0% 30% 5% 28%
Compounded Sales Growth
10 Years: 15%
5 Years: 10%
3 Years: 10%
TTM: 8%
Compounded Profit Growth
10 Years: 24%
5 Years: 39%
3 Years: -11%
TTM: 41%
Stock Price CAGR
10 Years: %
5 Years: 2%
3 Years: 6%
1 Year: -3%
Return on Equity
10 Years: 3%
5 Years: 4%
3 Years: 3%
Last Year: 4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 200 200 200 200 200 412 824 824 824 824 824 824 824
Reserves 14,899 16,889 19,557 18,910 19,951 23,738 22,639 20,013 23,921 24,139 24,821 27,159 28,897
0 0 0 0 0 0 0 0 0 0 0 0 0
30,828 36,509 42,383 44,495 49,180 50,756 56,195 55,503 66,675 70,387 71,369 79,201 80,796
Total Liabilities 45,927 53,597 62,140 63,605 69,331 74,906 79,658 76,340 91,420 95,350 97,013 107,184 110,517
152 158 199 243 2,004 479 474 466 407 421 418 400 413
CWIP 0 20 0 15 57 33 45 25 16 17 13 18 0
Investments 31,274 35,350 44,958 44,546 49,734 55,538 59,190 51,379 66,358 70,559 73,511 81,311 87,346
14,500 18,070 16,983 18,801 17,537 18,856 19,949 24,470 24,639 24,352 23,071 25,456 22,758
Total Assets 45,927 53,597 62,140 63,605 69,331 74,906 79,658 76,340 91,420 95,350 97,013 107,184 110,517

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
867 -1,558 -155 455 -1,274 -966 751 -4,065 -5,846 -4,678
-1,324 751 1,393 -580 2,331 2,830 -250 4,870 5,672 6,956
-257 -360 -302 1,128 -474 -298 10 0 -49 -318
Net Cash Flow -715 -1,167 936 1,002 584 1,567 511 805 -223 1,961

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 0 0 0 0 120 0 0 0 0 0 0 0
Inventory Days
Days Payable
Cash Conversion Cycle 0 0 0 0 120 0 0 0 0 0 0 0
Working Capital Days -565 -576 -554 -535 -466 -506 -422 -450 -473 -470 -437 -436
ROCE % 1% -1% 1% -2% 3% 2% -2% 7% 9% 1% 5% 5%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
85.44% 85.44% 85.44% 85.44% 85.44% 85.44% 85.44% 85.44% 85.44% 85.44% 85.44% 85.44%
0.58% 0.58% 0.60% 0.60% 0.62% 0.65% 0.66% 0.69% 0.77% 0.81% 0.80% 0.86%
12.57% 12.42% 12.16% 11.90% 11.92% 11.93% 11.93% 11.93% 11.71% 11.76% 11.64% 11.28%
1.41% 1.56% 1.80% 2.06% 2.02% 1.98% 1.97% 1.94% 2.09% 1.98% 2.12% 2.43%
No. of Shareholders 1,24,3551,28,2011,31,1471,34,0771,32,7991,32,2021,29,6911,27,0311,26,3661,41,7341,50,9831,56,767

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

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