Niva Bupa Health Insurance Company Ltd
Incorporated in 2008, Niva Bupa Health Insurance Ltd is a Tech driven leading health insurer in India.[1]
- Market Cap ₹ 14,646 Cr.
- Current Price ₹ 79.3
- High / Low ₹ 109 / 61.0
- Stock P/E 104
- Book Value ₹ 16.7
- Dividend Yield 0.00 %
- ROCE 7.45 %
- ROE 8.18 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company has delivered good profit growth of 40.1% CAGR over last 5 years
Cons
- Stock is trading at 4.74 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -0.55%
- Tax rate seems low
- Company has a low return on equity of 6.41% over last 3 years.
- Earnings include an other income of Rs.72.5 Cr.
* 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
Financial Services Financial Services Insurance General Insurance
Part of Nifty 500 BSE SmallCap BSE IPO BSE Allcap BSE Financial Services
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 851 | 1,057 | 1,413 | 1,877 | 2,853 | 4,115 | 5,374 | 5,621 | |
| 880 | 1,094 | 1,435 | 2,328 | 3,183 | 4,228 | 5,296 | 5,553 | |
| Operating Profit | -29 | -37 | -22 | -451 | -330 | -113 | 78 | 68 |
| OPM % | -3% | -3% | -2% | -24% | -12% | -3% | 1% | 1% |
| 0 | 0 | 0 | 281 | 374 | 224 | 160 | 72 | |
| Interest | 3 | 4 | 6 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 16 | 21 | 22 | 27 | 32 | 29 | 25 | 0 |
| Profit before tax | -48 | -62 | -50 | -197 | 13 | 82 | 214 | 141 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | |
| -48 | -62 | -50 | -197 | 13 | 82 | 214 | 141 | |
| EPS in Rs | 1.17 | |||||||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 38% |
| 3 Years: | 42% |
| TTM: | 27% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 40% |
| 3 Years: | 45% |
| TTM: | 4% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 1% |
| 3 Years: | 6% |
| Last Year: | 8% |
Balance Sheet
Figures in Rs. Crores
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 981 | 1,126 | 1,350 | 1,409 | 1,511 | 1,700 | 1,827 |
| Reserves | -719 | -780 | -773 | -903 | -683 | 351 | 1,231 |
| 0 | 0 | 0 | 250 | 250 | 250 | 250 | |
| 737 | 891 | 1,322 | 1,983 | 2,799 | 3,891 | 6,452 | |
| Total Liabilities | 1,000 | 1,237 | 1,899 | 2,738 | 3,877 | 6,192 | 9,760 |
| 30 | 39 | 46 | 49 | 52 | 58 | 66 | |
| CWIP | 2 | 2 | 2 | 1 | 4 | 1 | 9 |
| Investments | 816 | 1,067 | 1,622 | 2,401 | 3,366 | 5,458 | 8,175 |
| 152 | 129 | 230 | 287 | 455 | 675 | 1,510 | |
| Total Assets | 1,000 | 1,237 | 1,899 | 2,738 | 3,877 | 6,192 | 9,760 |
Cash Flows
Figures in Rs. Crores
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| 257 | 338 | 593 | 813 | 1,654 | |||
| -374 | -723 | -829 | -1,882 | -2,348 | |||
| 280 | 374 | 280 | 1,110 | 771 | |||
| Net Cash Flow | 164 | -12 | 43 | 41 | 78 |
Ratios
Figures in Rs. Crores
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventory Days | |||||||
| Days Payable | |||||||
| Cash Conversion Cycle | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Working Capital Days | -264 | -270 | -290 | -341 | -313 | -298 | -351 |
| ROCE % | -19% | -10% | -30% | 1% | 5% | 7% |
Documents
Announcements
-
Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015
1 Oct - Additional Commissioner dropped GST proceedings; alleged demands ₹2.78m and ₹1,238.52m for Jul 2017–Mar 2022, order Sep 30, 2025.
- Closure of Trading Window 30 Sep
-
Disclosure Under Regulation 30 For Receipt Of Approval From IRDAI For The Appointment Of Mr. Milind Gajanan Barve As The Chairman Of The Board
24 Sep - IRDAI approved Milind Gajanan Barve as Niva Bupa Chairman effective August 28, 2025.
-
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
18 Sep - Allotment of 2,87,325 equity shares of the Company
-
Announcement under Regulation 30 (LODR)-Change in Directorate
15 Sep - Appointment of Vivek Anant Karve as Independent Director for five years from Sept 15, 2025, subject to members' approval.
Concalls
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Aug 2025Transcript PPT
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May 2025Transcript PPT
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Feb 2025Transcript PPT REC
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Nov 2024Transcript PPT
Leading Insurance Company[1] Niva Bupa is the 3rd largest and the 2nd fastest growing standalone health insurer (SAHI) in India based on overall health gross direct premium income (GDPI) of Rs 5,494.43 crore in FY24 with an overall market share of 5.1%.