Niva Bupa Health Insurance Company Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹13,428 Cr
- P/E
- 77.06
- ROE
- 3.46%
- PEG
- 0.61
- Price to sales
- 1.72
- Debt to equity
- 0.07
- 52W high / low
- ₹88.4 / ₹68.4
- Sales growth (5Y)
- 36.49%
- EBITDA margin
- 2.76%
- Net profit margin
- 1.95%
- Promoter holding
- 55.29%
- Sales (last year)
- ₹7,907 Cr
Incorporated in 2008, Niva Bupa Health Insurance Ltd is a Tech driven leading health insurer in India.[1]
Guidance scorecard · Q1 FY27 call
What Niva Bupa Health Insurance Company Ltd's management guided
and where it ranks in Insurance
Insurance
RevenueQ1 FY27 call
20–40%- Niva Bupa aims to sustain growth 8-10 percentage points faster than the overall market, focusing on retail health.
- Growth drivers include diversified multi-channel distribution, expansion in Tier 2 and Tier 3 towns (Bharat initiative), and continuous advisor network expansion.
- New products, such as Reassure 3.0 launched in August last year, have been successful in contributing to growth.
- The company leverages AI-led capabilities and GenAI initiatives to enhance advisor and employee productivity, supporting growth.
- July 2026 showed strong premium momentum, suggesting positive near-term growth outlook.
2 more points from Niva Bupa Health Insurance Company Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Niva Bupa Health Insurance Company Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- The company has an enabling resolution to raise up to INR 500 crores through debt for growth plans over the next 2 years.
- Existing debt of INR 250 crores has a call option due this year, which is part of the reason for potential debt raise.
- Investment strategy remains conservative but focused on yield, with approximately 4% of AUM committed to Alternative Investment Funds (AIFs), mostly performing credit AIFs, seeking to increase to regulatory limits.
2 more points from Niva Bupa Health Insurance Company Ltd's call on capex
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FundraisingQ1 FY27 call
PlannedSee what Niva Bupa Health Insurance Company Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Ask what Niva Bupa Health Insurance Company Ltd said on the order book →
Full Q1 FY27 analysisRanges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Insurance
on management's own guidance
- 2
- Max Financial Services LtdGood growth1
- Medi Assist Healthcare Services LtdGood growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Insurance companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | Max Financial Services Ltd | 20–40% | Flat | ₹44,689 Cr | 411.9 |
| 2 | Niva Bupa Health Insurance Company LtdThis stock | 20–40% | Flat | ₹14,047 Cr | 80.6 |
| 3 | Medi Assist Healthcare Services Ltd | 20–40% | Flat | ₹2,286 Cr | 23.1 |
| 4 | 10–20% | Flat | ₹1.20L Cr | 58.6 |
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Pro shows every company guiding 40%+ revenue growth →Full Insurance rankingFinancials of Niva Bupa Health Insurance Company Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Niva Bupa Health Insurance Company Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 969 | 1,026 | 1,316 | 1,124 | 1,321 | 1,258 | 1,671 | 1,371 | 1,574 | 1,611 | 2,139 |
| Expenses + | 1,027 | 1,071 | 1,215 | 1,228 | 1,387 | 1,282 | 1,420 | 1,464 | 1,627 | 1,705 | 1,773 |
| Operating Profit | -58 | -46 | 100 | -103 | -66 | -24 | 251 | -93 | -53 | -94 | 365 |
| OPM % | -6% | -4% | 8% | -9% | -5% | -2% | 15% | -7% | -3% | -6% | 17% |
| Other Income + | 50 | 50 | 57 | 84 | 79 | 37 | -45 | 2 | 18 | 7 | -24 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 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 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -1% |
| Net Profit + | -8 | 5 | 157 | -19 | 13 | 13 | 206 | -91 | -35 | -88 | 345 |
| EPS in Rs | 0.07 | 1.13 | -0.50 | -0.19 | -0.47 | 1.87 |
Financials of Niva Bupa Health Insurance Company Ltd
Profit & Loss
Annual income statement trend
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Sales + | 851 | 1,057 | 1,413 | 1,877 | 2,853 | 4,115 | 5,374 | 6,695 |
| Expenses + | 880 | 1,094 | 1,435 | 2,328 | 3,183 | 4,228 | 5,296 | 6,570 |
| Operating Profit | -29 | -37 | -22 | -451 | -330 | -113 | 78 | 125 |
| OPM % | -3% | -3% | -2% | -24% | -12% | -3% | 1% | 2% |
| Other Income + | 0 | 0 | 0 | 281 | 374 | 224 | 160 | 2 |
| 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 | 127 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -3% |
| Net Profit + | -48 | -62 | -50 | -197 | 13 | 82 | 214 | 131 |
| EPS in Rs | 1.17 | 0.71 | ||||||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Niva Bupa Health Insurance Company Ltd
Balance Sheet
Capital structure and asset base
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 981 | 1,126 | 1,350 | 1,409 | 1,511 | 1,700 | 1,827 | 1,847 |
| Reserves | -719 | -780 | -773 | -903 | -683 | 351 | 1,231 | 1,939 |
| Borrowings + | 0 | 0 | 0 | 250 | 250 | 250 | 250 | 250 |
| Other Liabilities + | 737 | 891 | 1,322 | 1,983 | 2,799 | 3,891 | 6,452 | 7,827 |
| Total Liabilities | 1,000 | 1,237 | 1,899 | 2,738 | 3,877 | 6,192 | 9,760 | 11,864 |
| Fixed Assets + | 30 | 39 | 46 | 49 | 52 | 58 | 66 | 88 |
| CWIP | 2 | 2 | 2 | 1 | 4 | 1 | 9 | 0 |
| Investments | 816 | 1,067 | 1,622 | 2,401 | 3,366 | 5,458 | 8,175 | 9,670 |
| Other Assets + | 152 | 129 | 230 | 287 | 455 | 675 | 1,510 | 2,106 |
| Total Assets | 1,000 | 1,237 | 1,899 | 2,738 | 3,877 | 6,192 | 9,760 | 11,864 |
Financials of Niva Bupa Health Insurance Company Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 257 | 338 | 593 | 813 | 1,654 | 905 | ||
| Cash from Investing Activity + | -374 | -723 | -829 | -1,882 | -2,348 | -961 | ||
| Cash from Financing Activity + | 280 | 374 | 280 | 1,110 | 771 | -5 | ||
| Net Cash Flow | 164 | -12 | 43 | 41 | 78 | -62 | ||
| Free Cash Flow | 229 | 309 | 555 | 780 | 1,613 | 857 | ||
| CFO/OP | -1,180% | -75% | -180% | -720% | 2,121% | 725% |
Financials of Niva Bupa Health Insurance Company Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventory Days | ||||||||
| Days Payable | ||||||||
| Cash Conversion Cycle | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Working Capital Days | -264 | -270 | -290 | -341 | -313 | -298 | -351 | -322 |
| ROCE % | -19% | -10% | -30% | 1% | 5% | 7% | 3% |
Guidance history
How Niva Bupa Health Insurance Company Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 20–40% | Flat | Planned | Planned | — |
| Q4 FY26 call → | 20–40% | Flat | Planned | — | — |
| Q3 FY26 call → | 20–40% | Flat | — | — | — |
| Q2 FY26 call → | 20–40% | Flat | — | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
23 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −3.0% | 58% |
| Last 6 months | −7.2% | 44% |
| Last 3 months | −16.5% | 29% |
The price is 23.5% below its all-time high of ₹95.02 (6 Dec 2024). Stocks more than 20% below their peak have their score halved, so 47 became 23.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Niva Bupa Health Insurance Company Ltd: 0.4 × 58 + 0.4 × 44 + 0.2 × 29 = 47, halved to 23 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Niva Bupa Health Insurance Company Ltd's management said in earlier quarters
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