New India Assurance Company Ltd

New India Assurance Company Ltd

₹ 242 -1.21%
25 Jun 11:41 a.m.
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]

  • Market Cap 39,964 Cr.
  • Current Price 242
  • High / Low 325 / 115
  • Stock P/E 35.4
  • Book Value 170
  • Dividend Yield 0.77 %
  • ROCE 5.39 %
  • ROE 4.21 %
  • Face Value 5.00

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 29.5%

Cons

  • The company has delivered a poor sales growth of 9.51% over past five years.
  • Company has a low return on equity of 3.06% 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

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
9,157 8,069 9,633 9,430 8,460 8,542 11,541 10,504 10,132 9,840 10,517 11,318 11,658
8,909 7,969 9,536 8,846 9,178 8,398 11,522 9,607 10,013 9,504 10,777 10,449 11,173
Operating Profit 249 99 96 584 -717 144 19 896 118 336 -260 869 486
OPM % 3% 1% 1% 6% -8% 2% 0% 9% 1% 3% -2% 8% 4%
86 2 33 4 59 4 5 18 41 -25 6 0 34
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 335 102 129 587 -658 148 24 914 159 311 -254 869 520
Tax % 28% 12% 1% 16% 17% 20% -42% 18% 3% 16% 21% 18% 32%
241 89 127 491 -543 118 33 749 155 260 -200 715 354
EPS in Rs 1.46 0.54 0.77 2.98 -3.30 0.72 0.20 4.54 0.94 1.58 -1.21 4.34 2.15
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
9,478 10,869 13,235 15,104 19,320 19,692 27,514 30,523 32,831 35,642 40,801 43,333
11,215 13,151 15,516 18,062 19,844 24,464 27,832 28,852 30,797 35,489 39,539 41,903
Operating Profit -1,736 -2,282 -2,281 -2,958 -524 -4,773 -318 1,671 2,034 153 1,262 1,430
OPM % -18% -21% -17% -20% -3% -24% -1% 5% 6% 0% 3% 3%
2,814 3,241 4,004 4,031 1,738 7,579 1,051 58 102 90 61 15
Interest 3 2 3 3 5 9 0 0 0 0 0 0
Depreciation 37 33 24 32 45 72 87 91 98 83 78 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
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
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
Dividend Payout % 19% 28% 22% 27% 31% 33% 43% 0% 0% 30% 30% 28%
Compounded Sales Growth
10 Years: 15%
5 Years: 10%
3 Years: 10%
TTM: 6%
Compounded Profit Growth
10 Years: 24%
5 Years: 39%
3 Years: -11%
TTM: 7%
Stock Price CAGR
10 Years: %
5 Years: 11%
3 Years: 14%
1 Year: 111%
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
Equity Capital 200 200 200 200 200 412 824 824 824 824 824 824
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
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
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
152 158 199 243 2,004 479 474 466 407 421 418 417
CWIP 0 20 0 15 57 33 45 25 16 17 13 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
14,500 18,070 16,983 18,801 17,537 18,856 19,949 24,470 24,639 24,352 23,071 25,456
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

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 6,894
-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 1,898

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 -437
ROCE % 1% -1% 1% -2% 3% 2% -2% 7% 9% 1% 5%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 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%
0.02% 0.43% 0.58% 0.58% 0.60% 0.60% 0.62% 0.65% 0.66% 0.69% 0.77% 0.81%
13.07% 12.81% 12.57% 12.42% 12.16% 11.90% 11.92% 11.93% 11.93% 11.93% 11.71% 11.76%
1.48% 1.32% 1.41% 1.56% 1.80% 2.06% 2.02% 1.98% 1.97% 1.94% 2.09% 1.98%
No. of Shareholders 1,31,3401,25,3611,24,3551,28,2011,31,1471,34,0771,32,7991,32,2021,29,6911,27,0311,26,3661,41,734

* 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.

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Documents

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