New India Assura Q1 FY27 Results (NSE: NIACL)
Signal: Slipped to loss
The read
Q1FY27 net loss of ₹128.5 Cr vs profit of ₹402 Cr a year ago—a sharp reversal due to underwriting losses in Motor and Health (combined ratio 121.44%) and a one-time deferred tax charge of ₹5,921 Lakhs from opting the new tax regime; total income grew ~11% but underwriting deficits widened, making this the worst quarter in recent years.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹12,994.5 Cr | 10.9% | 3.6% |
| Net profit | ₹-128.54 Cr | -132% | |
| EPS | ₹-1.56 | -165.8% |
P&L walk
No consolidated filing; standalone only.
Segments
Health and Motor segments are the primary drags, together contributing a loss of ₹1,42,753 Lakhs; Fire and Miscellaneous segments provided positive underwriting profits of ₹48,101 Lakhs and ₹24,012 Lakhs respectively, but insufficient to offset the losses.
Key positives
- Total income grew ~11% YoY to ~₹12,994 Cr, driven by premium growth in Motor (+12%) and Health (+2%).
- Investment income held steady at ~₹1,553 Cr, providing a stable earnings base.
- Solvency ratio remains comfortable at 1.80x, above regulatory minimum.
Key concerns
- Net loss of ₹128.5 Cr vs profit of ₹402 Cr a year ago—underwriting losses widened sharply.
- Combined ratio deteriorated to 121.44% from 116.16% a year ago, indicating worsening underwriting profitability.
- Health segment loss of ₹1,057 Cr and Motor loss of ₹370 Cr are the primary drags; these segments need remedial action.
Research and educational content only. Not investment advice.